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Coca-Cola (KO)

Market Price (9/18/2025): $67.04 | Market Cap: $288.5 Bil
Sector: Consumer Staples | Industry: Soft Drinks & Non-alcoholic Beverages

Coca-Cola (KO)

Market Price (9/18/2025): $67.04
Market Cap: $288.5 Bil
Sector: Consumer Staples
Industry: Soft Drinks & Non-alcoholic Beverages

Investment Highlights

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2%, Dividend Yield is 2.9%		 Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -42%		 Expensive valuation multiples
P/SPrice/Sales ratio is 6.1x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 222x
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%		  Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.5%
2 Low stock price volatility
Vol 12M is 17%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 7.2%, Dividend Yield is 2.9%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 31%
2 Low stock price volatility
Vol 12M is 17%
3 Weak multi-year price returns
2Y Excs Rtn is -25%, 3Y Excs Rtn is -42%
4 Expensive valuation multiples
P/SPrice/Sales ratio is 6.1x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 222x
5 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.5%

Market Valuation

 9/18/252024202320222021
Share Price CYE$67.04$60.90$55.93$58.53$52.92
Market Cap CYE ($ Bil)288.5262.2241.5253.1228.7
Total Debt ($ Bil)49.444.542.139.142.8
Total Cash ($ Bil)14.314.613.711.612.6
Enterprise Value ($ Bil)323.7306.7283.6292.2271.5
Valuation Ratios     
P/S TTM6.15.75.66.46.6
P/EBIT TTM17.218.217.621.918.2
P/E TTM23.725.223.828.926.1
Sector Ratios     
P/S TTM (Sector)0.90.90.90.91.6
P/EBIT TTM (Sector)8.48.910.09.411.6
P/E TTM (Sector)12.612.114.011.616.2
 9/18/2520242023
Share Price CYE$67.04$60.90$55.93
Market Cap CYE ($ Bil)288.5262.2241.5
Total Debt ($ Bil)49.444.542.1
Total Cash ($ Bil)14.314.613.7
Enterprise Value ($ Bil)323.7306.7283.6
Valuation Ratios   
P/S TTM6.15.75.6
P/EBIT TTM17.218.217.6
P/E TTM23.725.223.8
Sector Ratios   
P/S TTM (Sector)0.90.90.9
P/EBIT TTM (Sector)8.48.910.0
P/E TTM (Sector)12.612.114.0

Market Cap Chart

Business Description

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks; flavored and enhanced water, and sports drinks; juice, dairy, and plant–based beverages; tea and coffee; and energy drinks. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
KO Return2%11%11%-4%9%10%43%
Peers Return6%8%15%-8%-2%-7%9%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: MDLZ, CPB, CAG, KO, PEP. See KO Returns vs. Peers.
[3] 2025 data is for the year up to 9/17/2025 (YTD)

Interactive Breakdown

Coca-Cola Interactive Breakdown Analysis

Better Bets than Coca-Cola (KO)

 KOBetter Performance than KO
MetricValueIndustry (Soft Drinks & Non-alcoholic Be)
Rev Chg LTM1.3%MNST (3.7%), KDP (4.6%), CELH (11.9%), COKE (3.2%), PRMB (26.3%)
Rev Chg 3Y Avg4.5%MNST (8.5%), KDP (5.9%), CELH (54.7%), COKE (5.9%), COCO (10.6%)
Op Mgn LTM30.6%
CFO/Rev LTM2.8%PEP (13.3%), MNST (26.8%), KDP (13.4%), CELH (14.1%), COKE (12.2%)
FCF/Rev LTM-1.5%PEP (7.7%), MNST (23.5%), KDP (10.0%), CELH (12.7%), COKE (6.9%)
Total Yield7.2%PEP (7.8%), FIZZ (13.7%)
 KOBetter Performance than KO
MetricValueAll Other Sectors
Rev Chg LTM1.3%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), AMZN (10.9%)
Rev Chg 3Y Avg4.5%NVDA (92.0%), MSFT (12.5%), GOOGL (10.2%), AMZN (11.3%), META (13.0%)
Op Mgn LTM30.6%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM2.8%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), AMZN (18.1%)
FCF/Rev LTM-1.5%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), AMZN (2.0%)
Total Yield7.2%XOM (9.7%), JNJ (8.1%), BABA (37.9%), UNH (9.4%), CVX (9.2%)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Coca-Cola Earnings Notes  
2KO Has Returned $85 Bil To Shareholders In A Decade  
3Coca-Cola vs Alphabet: Which Is A Better Investment?Counter-Intuitive Comparisons 
4Coca-Cola vs Philip Morris International: Which Is A Better Investment?Counter-Intuitive Comparisons 
5How Does KO Stack Up Against Its Peers?Peer Comparison 
6Better Bet Than KO Stock: Pay Less Than Coca-Cola To Get More From GOOGL, DIS   
7Better Bet Than KO Stock: Pay Less Than Coca-Cola To Get More From USFD, PPC   
8Better Bet Than KO Stock: Pay Less Than Coca-Cola To Get More From COKE Actionable 
9KO Dip Buy Analysis  
10Coca-Cola (KO) Valuation Ratios ComparisonFinancials 
11ARTICLES  
12KO Capital Return Hits $85 Bil in 10 Years August 26th, 2025
13Better Bet Than Coca-Cola Stock: Pay Less To Get More From COKE July 29th, 2025
14How Will Coca-Cola Stock React To Its Upcoming Earnings? July 18th, 2025
15Better Bet Than Coca-Cola Stock: Pay Less To Get More From COKE July 17th, 2025
16How Does PepsiCo Compare With Coca-Cola? July 2nd, 2025
Title
0DASHBOARDS
1KO Capital Return Hits $85 Bil in 10 Years
2Better Bet Than Coca-Cola Stock: Pay Less To Get More From COKE
3How Will Coca-Cola Stock React To Its Upcoming Earnings?
4Better Bet Than Coca-Cola Stock: Pay Less To Get More From COKE
5How Does PepsiCo Compare With Coca-Cola?
6ARTICLES
7Coca-Cola Earnings Notes
8KO Has Returned $85 Bil To Shareholders In A Decade
9Coca-Cola vs Alphabet: Which Is A Better Investment?
10Coca-Cola vs Philip Morris International: Which Is A Better Investment?
11How Does KO Stack Up Against Its Peers?
12Better Bet Than KO Stock: Pay Less Than Coca-Cola To Get More From GOOGL, DIS 
13Better Bet Than KO Stock: Pay Less Than Coca-Cola To Get More From USFD, PPC 
14Better Bet Than KO Stock: Pay Less Than Coca-Cola To Get More From COKE 
15KO Dip Buy Analysis
16Coca-Cola (KO) Valuation Ratios Comparison

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#TickerCompany1W RtnYTD Rtn
1ECDAECD Automotive Design3347.2%307.9%
2BDSXBiodesix1090.6%-79.7%
3CLSDClearside Biomedical987.7%-74.7%
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#TickerCompany1W RtnYTD Rtn
1CURXCuranex Pharmaceuticals-80.5%148.4%
2ATYRaTyr Pharma-80.4%-71.7%
3NAKAKindly MD-70.2% 
4BNGOBionano Genomics-64.0%-89.8%
5XAGELongevity Health-57.6%-86.1%
6FAASDigiAsia-55.4%-88.0%
7ASSTStrive-54.5%650.3%
8VCIGVCI Global-51.0%-98.9%
9REXREX American Resources-50.7%44.3%
10RBNERobin Energy-42.6% 

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Coca-Cola

Financials

KOMDLZCPBCAGPEPMedian
NameCoca-ColaMondelez.Campbell.Conagra .PepsiCo  
Mkt Price67.0462.8332.9318.89141.2362.83
Mkt Cap288.581.49.89.0193.681.4
Rev LTM47,06237,10510,22511,61391,74837,105
Op Inc LTM14,4184,8781,3161,44512,3874,878
FCF LTM-7222,8617231,3037,0641,303
FCF 3Y Avg5,9403,1216781,1886,6083,121
CFO LTM1,3014,1641,1601,69212,1881,692
CFO 3Y Avg7,8284,3221,0931,56811,9584,322

Growth & Margins

KOMDLZCPBCAGPEPMedian
NameCoca-ColaMondelez.Campbell.Conagra .PepsiCo  
Rev Chg LTM1.3%3.1%8.6%-3.6%-0.3%1.3%
Rev Chg 3Y Avg4.5%7.6%6.6%0.3%4.0%4.5%
Rev Chg Q1.4%7.7%4.5%-4.3%1.0%1.4%
QoQ Delta Rev Chg LTM0.4%1.8%1.0%-1.1%0.2%0.4%
Op Mgn LTM30.6%13.1%12.9%12.4%13.5%13.1%
Op Mgn 3Y Avg29.4%14.7%13.2%14.1%13.8%14.1%
QoQ Delta Op Mgn LTM0.6%0.6%0.2%-0.1%-0.5%0.2%
CFO/Rev LTM2.8%11.2%11.3%14.6%13.3%11.3%
CFO/Rev 3Y Avg17.3%12.1%11.3%13.1%13.1%13.1%
FCF/Rev LTM-1.5%7.7%7.1%11.2%7.7%7.7%
FCF/Rev 3Y Avg13.1%8.7%7.0%10.0%7.2%8.7%

Valuation

KOMDLZCPBCAGPEPMedian
NameCoca-ColaMondelez.Campbell.Conagra .PepsiCo  
Mkt Cap288.581.49.89.0193.681.4
P/S6.12.21.00.82.12.1
P/EBIT17.217.410.35.718.617.2
P/E23.722.321.67.825.622.3
P/CFO221.819.58.55.315.915.9
Total Yield7.2%7.5%8.1%20.2%7.8%7.8%
Dividend Yield2.9%3.0%3.5%7.4%3.9%3.5%
FCF Yield 3Y Avg2.2%3.4%5.9%9.7%3.1%3.4%
D/E0.20.30.70.90.30.3
Net D/E0.10.20.70.90.20.2

Returns

KOMDLZCPBCAGPEPMedian
NameCoca-ColaMondelez.Campbell.Conagra .PepsiCo  
1M Rtn-2.3%1.6%1.8%-0.5%-4.6%-0.5%
3M Rtn-2.4%-4.6%3.4%-10.5%10.5%-2.4%
6M Rtn-1.8%-0.5%-13.6%-24.6%-2.7%-2.7%
12M Rtn-3.8%-13.9%-34.3%-38.5%-17.1%-17.1%
3Y Rtn23.2%12.4%-24.4%-35.5%-6.9%-6.9%
1M Excs Rtn-4.6%-0.7%-0.5%-2.8%-7.0%-2.8%
3M Excs Rtn-13.3%-15.0%-6.8%-21.1%-0.0%-13.3%
6M Excs Rtn-19.5%-19.0%-31.8%-42.5%-20.8%-20.8%
12M Excs Rtn-20.6%-31.4%-51.1%-54.8%-34.6%-34.6%
3Y Excs Rtn-42.3%-51.1%-86.3%-97.7%-71.2%-71.2%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/27/20253/28/202512/31/20249/27/20246/28/20243/29/202412/31/20239/29/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/24/20255/1/20252/20/202510/24/20247/29/20245/2/20242/20/202410/24/20237/27/20234/26/20232/21/202310/26/2022
Key Financials Quarterly            
Total Revenue12,53511,12911,54411,85412,36311,30010,84911,95311,97210,98010,12511,063
Ebitda5,5204,7113,5134,0733,7154,5163,1664,1953,5354,7113,1113,949
Operating Income4,3193,7182,8653,5163,9713,6742,3723,5673,7123,4472,1573,191
Net Income3,8103,3302,1952,8482,4113,1771,9733,0872,5473,1072,0312,825
EPS0.890.770.510.660.560.740.460.710.590.720.470.65
Key Financials TTM            
Total Revenue TTM47,06246,89047,06146,36646,46546,07445,75445,03044,14043,49343,00442,343
Ebitda TTM17,81716,01215,81715,47015,59215,41215,60715,55215,30614,57513,82814,183
Operating Income TTM14,41814,07014,02613,53313,58413,32513,09812,88312,50712,06812,04411,883
Net Income TTM12,18310,78410,63110,40910,64810,78410,71410,77210,5109,8689,5429,925
Growth Rates Quarterly            
Total Revenue Growth1.4%-1.5%6.4%-0.8%3.3%2.9%7.2%8.0%5.7%4.7%7.0%10.2%
EBITDA Growth48.6%4.3%11.0%-2.9%5.1%-4.1%1.8%6.2%26.1%18.8%-10.2%8.0%
Operating Income Growth8.8%1.2%20.8%-1.4%7.0%6.6%10.0%11.8%13.4%0.7%8.1%9.6%
Net Income Growth58.0%4.8%11.3%-7.7%-5.3%2.3%-2.9%9.3%33.7%11.7%-15.9%14.3%
Margins Quarterly            
EBITDA Margin44.0%42.3%30.4%34.4%30.0%40.0%29.2%35.1%29.5%42.9%30.7%35.7%
Operating Income Margin34.5%33.4%24.8%29.7%32.1%32.5%21.9%29.8%31.0%31.4%21.3%28.8%
Net Income Margin30.4%29.9%19.0%24.0%19.5%28.1%18.2%25.8%21.3%28.3%20.1%25.5%
Cash & Debt            
Total Cash14,29713,78714,57118,16418,99316,91913,66315,43515,69414,29511,63113,220
Total Debt49,44649,11144,52246,26443,81742,55042,06440,17141,62542,40039,14939,587
Net Debt / (Cash)35,14935,32429,95128,10024,82425,63128,40124,73625,93128,10527,51826,367
Cash Flows Quarterly            
FCF from Operations3,811-5,2023,951-1,2593,5855282,6704,3004,4691602,9503,522
Cash Flows TTM            
FCF from Operations TTM1,3011,0756,8055,52411,08311,96711,59911,87911,10110,55511,01811,462
Returns to Shareholders Quarterly            
Dividends2,194894,0852,0902,085993,8741,9891,9881013,706100
Share Repurchases1023705673541727021,0961092368486202
Return on Invested Capital (ROIC) Quarterly            
ROIC39.0%34.6%30.2%42.2%50.7%47.2%26.7%50.3%50.1%37.7%25.8%39.7%
Return on Invested Capital (ROIC) TTM            
ROIC TTM33.3%32.4%38.1%39.3%45.1%43.9%38.1%43.3%39.4%34.6%35.8%37.0%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
North America16,77415,67413,19011,47311,906
Europe, Middle East & Africa8,0787,5237,1935,5346,434
Bottling Investments7,8607,8917,2036,2587,431
Latin America5,8304,9104,1433,4994,118
Asia Pacific5,4555,4455,2914,2134,723
Global Ventures3,0642,8432,8051,9912,560
Corporate12694854694
Eliminations-1,433-1,376-1,25500
Total45,75443,00438,65533,01437,266


Operating Income by Segment
$ Mil20242023202220212020
North America4,4353,7423,3312,4712,594
Europe, Middle East & Africa4,2023,9583,7353,3133,551
Latin America3,4322,8702,5342,1162,375
Asia Pacific2,0402,3032,3252,1332,282
Bottling Investments578487473308358
Global Ventures329185293-123334
Eliminations00000
Corporate-3,705-2,636-2,383-1,221-1,408
Total11,31110,90910,3088,99710,086


Price Behavior

KO Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta-0.41-0.320.120.120.080.26
Up Beta0.310.110.330.170.110.29
Down Beta-0.83-1.33-0.220.040.040.25
Up Capture-36%-34%-2%8%5%6%
Bmk +ve Days10223571142415
Stock +ve Days11182862121390
Down Capture-89%-3%35%19%16%50%
Bmk -ve Days11192754106334
Stock -ve Days10233463125351

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity36,843,168
Short Interest: % Change Since 81520254.4%
Average Daily Volume14,130,047
Days-to-Cover Short Interest2.61
Basic Shares Quantity4,304,000,000
Short % of Basic Shares0.9%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/22/2025-0.6%-2.8%0.1%
4/29/20250.8%-0.1%-0.9%
2/11/20254.7%7.0%8.4%
10/23/2024-2.1%-5.6%-9.3%
7/23/20240.3%3.2%7.1%
4/30/2024-0.4%0.5%-0.5%
2/13/2024-0.6%1.7%2.4%
10/24/20232.9%3.8%7.3%
...
SUMMARY STATS   
# Positive151412
# Negative7810
Median Positive1.6%3.1%4.2%
Median Negative-0.6%-1.2%-3.4%
Max Positive4.7%7.0%8.4%
Max Negative-2.5%-5.6%-9.3%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025724202510-Q 6/27/2025
3312025501202510-Q 3/28/2025
12312024220202510-K 12/31/2024
93020241024202410-Q 9/27/2024
6302024729202410-Q 6/28/2024
3312024502202410-Q 3/29/2024
12312023220202410-K 12/31/2023
93020231024202310-Q 9/29/2023
6302023727202310-Q 6/30/2023
3312023426202310-Q 3/31/2023
12312022221202310-K 12/31/2022
93020221026202210-Q 9/30/2022
6302022727202210-Q 7/1/2022
3312022428202210-Q 4/1/2022
12312021222202210-K 12/31/2021
93020211028202110-Q 10/1/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0KOUMETTIS NIKOLAOS 8072025Sell69.1037,3962,584,10514,477,579Form
1Braun HenriqueEVP & Chief Operating Officer3132025Sell71.4725,2771,806,5143,749,677Form
2Douglas Monica HowardExecutive Vice President2282025Sell70.845,565394,2312,672,484Form
3Quincey JamesChairman and CEO2262025Sell71.01145,43510,327,58724,324,774Form
4Pietracci Bruno 2242025Sell70.5619,0581,344,698 Form

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