Coca Cola Co Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Coca Cola Co has an operating margin of 21.2%, meaning the company retains $21 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is down from 24.7% the prior year.
Coca Cola Co's revenue grew a modest 2.9% year-over-year to $47.1B. This slow but positive growth earns a score of 37/100.
Coca Cola Co has a moderate D/E ratio of 1.70. This balance of debt and equity financing earns a leverage score of 48/100.
Coca Cola Co's current ratio of 1.03 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 21/100, which could limit financial flexibility.
Coca Cola Co has a free cash flow margin of 10.1%, earning a moderate score of 50/100. The company generates positive cash flow after capital investments, but with room for improvement.
Coca Cola Co earns a strong 42.8% return on equity (ROE), meaning it generates $43 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is up from 41.3% the prior year.
Coca Cola Co scores 4.55, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($338.5B) relative to total liabilities ($75.7B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Coca Cola Co passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Coca Cola Co generates $0.64 in operating cash flow ($6.8B OCF vs $10.6B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Coca Cola Co earns $6.0 in operating income for every $1 of interest expense ($10.0B vs $1.7B). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Coca Cola Co (KO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Coca Cola Co generated $47.1B in revenue in fiscal year 2024. This represents an increase of 2.9% from the prior year.
Coca Cola Co's EBITDA was $11.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 11.0% from the prior year.
Coca Cola Co generated $4.7B in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 51.4% from the prior year.
Coca Cola Co reported $10.6B in net income in fiscal year 2024. This represents a decrease of 0.8% from the prior year.
Coca Cola Co held $10.8B in cash against $42.4B in long-term debt as of fiscal year 2024.
Coca Cola Co paid $1.94 per share in dividends in fiscal year 2024. This represents an increase of 5.4% from the prior year.
Coca Cola Co's gross margin was 61.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.5 percentage points from the prior year.
Coca Cola Co's operating margin was 21.2% in fiscal year 2024, reflecting core business profitability. This is down 3.5 percentage points from the prior year.
Coca Cola Co's net profit margin was 22.6% in fiscal year 2024, showing the share of revenue converted to profit. This is down 0.8 percentage points from the prior year.
Coca Cola Co's ROE was 42.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is up 1.5 percentage points from the prior year.
Coca Cola Co spent $1.8B on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 21.6% from the prior year.
Coca Cola Co invested $2.1B in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 11.4% from the prior year.
KO Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $12.5B-0.6% | $12.5B+12.6% | $11.1B-3.6% | $11.5B-6.6% | $12.4B+9.4% | $11.3B+4.2% | $10.8B-9.2% | $12.0B |
| Cost of Revenue | $4.8B+1.8% | $4.7B+13.2% | $4.2B-9.8% | $4.6B-4.1% | $4.8B+13.6% | $4.2B-8.6% | $4.6B-0.5% | $4.7B |
| Gross Profit | $7.7B-2.1% | $7.8B+12.3% | $7.0B+0.5% | $6.9B-8.2% | $7.6B+6.9% | $7.1B+13.7% | $6.2B-14.8% | $7.3B |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $3.6B+4.3% | $3.5B+7.3% | $3.2B-20.1% | $4.0B+14.0% | $3.5B+5.9% | $3.4B-11.8% | $3.8B+3.6% | $3.7B |
| Operating Income | $4.0B-7.0% | $4.3B+17.0% | $3.7B+35.1% | $2.7B+2.9% | $2.6B+22.9% | $2.1B-5.8% | $2.3B-30.5% | $3.3B |
| Interest Expense | $391.0M-12.1% | $445.0M+15.0% | $387.0M-10.2% | $431.0M+3.1% | $418.0M+9.4% | $382.0M-7.5% | $413.0M+12.2% | $368.0M |
| Income Tax | $500.0M-49.6% | $993.0M+37.5% | $722.0M+21.8% | $593.0M-5.4% | $627.0M-8.7% | $687.0M+38.5% | $496.0M+9.3% | $454.0M |
| Net Income | $3.7B-3.0% | $3.8B+14.4% | $3.3B+51.7% | $2.2B-9.0% | $2.4B-24.1% | $3.2B+61.0% | $2.0B-36.1% | $3.1B |
| EPS (Diluted) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
KO Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $106.0B+1.6% | $104.3B+2.6% | $101.7B+1.2% | $100.5B-0.6% | $101.2B+1.8% | $99.4B+1.7% | $97.7B+0.1% | $97.6B |
| Current Assets | $27.2B+2.4% | $26.6B+1.6% | $26.2B+0.7% | $26.0B-17.7% | $31.6B+7.3% | $29.5B+10.2% | $26.7B-4.1% | $27.9B |
| Cash & Equivalents | $12.7B+32.8% | $9.6B+13.9% | $8.4B-22.3% | $10.8B-21.0% | $13.7B+31.3% | $10.4B+11.5% | $9.4B-21.2% | $11.9B |
| Inventory | $4.8B-5.5% | $5.1B-0.4% | $5.1B+7.9% | $4.7B-0.7% | $4.8B-4.0% | $5.0B+12.1% | $4.4B+4.0% | $4.3B |
| Accounts Receivable | $3.9B-5.3% | $4.2B+1.9% | $4.1B+14.6% | $3.6B-21.5% | $4.5B+7.1% | $4.2B+24.5% | $3.4B-2.4% | $3.5B |
| Goodwill | $18.7B0.0% | $18.7B+1.8% | $18.3B+1.1% | $18.1B-1.0% | $18.3B+0.6% | $18.2B-0.8% | $18.4B+1.2% | $18.1B |
| Total Liabilities | $74.8B-1.3% | $75.7B+0.3% | $75.5B-0.2% | $75.7B+0.5% | $75.3B+3.3% | $73.0B+1.7% | $71.8B+0.7% | $71.3B |
| Current Liabilities | $22.5B+2.5% | $21.9B-7.8% | $23.8B-5.7% | $25.2B-13.7% | $29.3B+3.2% | $28.4B+20.3% | $23.6B-3.4% | $24.4B |
| Long-Term Debt | $43.2B-4.0% | $45.0B+3.3% | $43.5B+2.7% | $42.4B+11.3% | $38.1B+8.5% | $35.1B-1.2% | $35.5B+4.0% | $34.2B |
| Total Equity | $31.2B+9.3% | $28.6B+9.1% | $26.2B+5.4% | $24.9B-3.9% | $25.9B-2.2% | $26.4B+1.9% | $25.9B-1.5% | $26.3B |
| Retained Earnings | $80.3B+1.9% | $78.8B+2.1% | $77.2B+1.5% | $76.1B+1.2% | $75.2B+0.4% | $74.9B+1.5% | $73.8B0.0% | $73.8B |
KO Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $5.0B+32.3% | $3.8B+173.3% | -$5.2B-231.7% | $4.0B+10.2% | $3.6B+579.0% | $528.0M-80.2% | $2.7B-37.9% | $4.3B |
| Capital Expenditures | $479.0M+8.4% | $442.0M+43.0% | $309.0M-61.5% | $803.0M+90.3% | $422.0M+14.1% | $370.0M-56.5% | $851.0M+120.5% | $386.0M |
| Free Cash Flow | $4.6B+35.5% | $3.4B+161.1% | -$5.5B-275.1% | $3.1B-0.5% | $3.2B+1901.9% | $158.0M-91.3% | $1.8B-53.5% | $3.9B |
| Investing Cash Flow | $1.3B+59.1% | $789.0M+173.9% | -$1.1B-36.3% | -$783.0M-217.4% | $667.0M+102.1% | $330.0M+135.6% | -$926.0M+44.1% | -$1.7B |
| Financing Cash Flow | -$3.1B+7.1% | -$3.4B-198.5% | $3.4B+162.6% | -$5.5B-484.6% | -$938.0M-331.0% | $406.0M+109.6% | -$4.2B-36.9% | -$3.1B |
| Dividends Paid | $2.1B-3.9% | $2.2B+2365.2% | $89.0M-97.8% | $4.1B+95.9% | $2.1B+2006.1% | $99.0M-97.4% | $3.9B+94.8% | $2.0B |
| Share Buybacks | $172.0M+68.6% | $102.0M-72.4% | $370.0M-34.7% | $567.0M+229.7% | $172.0M-75.5% | $702.0M-35.9% | $1.1B+905.5% | $109.0M |
KO Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.5%-0.9pp | 62.4%-0.2pp | 62.6%+2.5pp | 60.0%-1.0pp | 61.1%-1.4pp | 62.5%+5.2pp | 57.3%-3.8pp | 61.0% |
| Operating Margin | 32.0%-2.2pp | 34.1%+1.3pp | 32.9%+9.4pp | 23.5%+2.2pp | 21.3%+2.3pp | 18.9%-2.0pp | 20.9%-6.4pp | 27.4% |
| Net Margin | 29.7%-0.7pp | 30.4%+0.5pp | 29.9%+10.9pp | 19.0%-0.5pp | 19.5%-8.6pp | 28.1%+9.9pp | 18.2%-7.6pp | 25.8% |
| Return on Equity | 11.8%-1.5pp | 13.3%+0.6pp | 12.7%+3.9pp | 8.8%-0.5pp | 9.3%-2.7pp | 12.0%+4.4pp | 7.6%-4.1pp | 11.7% |
| Return on Assets | 3.5%-0.2pp | 3.6%+0.4pp | 3.3%+1.1pp | 2.2%-0.2pp | 2.4%-0.8pp | 3.2%+1.2pp | 2.0%-1.1pp | 3.2% |
| Current Ratio | 1.210.0 | 1.21+0.1 | 1.10+0.1 | 1.03-0.1 | 1.08+0.0 | 1.04-0.1 | 1.130.0 | 1.14 |
| Debt-to-Equity | 1.38-0.2 | 1.57-0.1 | 1.66-0.0 | 1.70+0.2 | 1.47+0.1 | 1.33-0.0 | 1.37+0.1 | 1.30 |
| FCF Margin | 36.6%+9.8pp | 26.9%+76.4pp | -49.5%-76.8pp | 27.3%+1.7pp | 25.6%+24.2pp | 1.4%-15.4pp | 16.8%-16.0pp | 32.7% |
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Frequently Asked Questions
What is Coca Cola Co's annual revenue?
Coca Cola Co (KO) reported $47.1B in total revenue for fiscal year 2024. This represents a 2.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Coca Cola Co's revenue growing?
Coca Cola Co (KO) revenue grew by 2.9% year-over-year, from $45.8B to $47.1B in fiscal year 2024.
Is Coca Cola Co profitable?
Yes, Coca Cola Co (KO) reported a net income of $10.6B in fiscal year 2024, with a net profit margin of 22.6%.
What is Coca Cola Co's EBITDA?
Coca Cola Co (KO) had EBITDA of $11.1B in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Coca Cola Co have?
As of fiscal year 2024, Coca Cola Co (KO) had $10.8B in cash and equivalents against $42.4B in long-term debt.
What is Coca Cola Co's gross margin?
Coca Cola Co (KO) had a gross margin of 61.1% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Coca Cola Co's operating margin?
Coca Cola Co (KO) had an operating margin of 21.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Coca Cola Co's net profit margin?
Coca Cola Co (KO) had a net profit margin of 22.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
Does Coca Cola Co pay dividends?
Yes, Coca Cola Co (KO) paid $1.94 per share in dividends during fiscal year 2024.
What is Coca Cola Co's return on equity (ROE)?
Coca Cola Co (KO) has a return on equity of 42.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Coca Cola Co's free cash flow?
Coca Cola Co (KO) generated $4.7B in free cash flow during fiscal year 2024. This represents a -51.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Coca Cola Co's operating cash flow?
Coca Cola Co (KO) generated $6.8B in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Coca Cola Co's total assets?
Coca Cola Co (KO) had $100.5B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Coca Cola Co's capital expenditures?
Coca Cola Co (KO) invested $2.1B in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
Does Coca Cola Co buy back shares?
Yes, Coca Cola Co (KO) spent $1.8B on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
What is Coca Cola Co's current ratio?
Coca Cola Co (KO) had a current ratio of 1.03 as of fiscal year 2024, which is considered adequate.
What is Coca Cola Co's debt-to-equity ratio?
Coca Cola Co (KO) had a debt-to-equity ratio of 1.70 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Coca Cola Co's return on assets (ROA)?
Coca Cola Co (KO) had a return on assets of 10.6% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Coca Cola Co's Altman Z-Score?
Coca Cola Co (KO) has an Altman Z-Score of 4.55, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Coca Cola Co's Piotroski F-Score?
Coca Cola Co (KO) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Coca Cola Co's earnings high quality?
Coca Cola Co (KO) has an earnings quality ratio of 0.64x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Coca Cola Co cover its interest payments?
Coca Cola Co (KO) has an interest coverage ratio of 6.0x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Coca Cola Co?
Coca Cola Co (KO) scores 59 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.