One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Coca-Cola Company (The)
KO · NYQ · Consumer Defensive · Beverages - Non-Alcoholic
Current price
$82.20
52-week range
$65.35 - $85.68
Market cap
—
Balance sheet
Watch
9.02x Adequate
Net debt $30.83B. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 2.8% last year.
- Reward Returns 43.4% on equity, ahead of 66% of its peers.
- Risk Net debt grew 7.9% over 3 years.
- Risk Insider ownership is only 9.9% (peer median: 12.9%).
What this company does
Coca-Cola Company (The)
The Coca-Cola Company makes most of its money selling the secret syrups and concentrates for its hundreds of drinks, like Coke, Sprite, and Dasani, to a global network of bottling partners. These partners handle the expensive work of bottling and distributing the final drinks, which lets Coca-Cola focus on marketing and maintain high profit margins (the percentage of each sale that the company keeps as profit). This business model allows the company to earn money from its powerful brands all over the world without needing to own all the factories and trucks itself.
How the company got here
Coca-Cola was first created in 1886 by an Atlanta pharmacist, John S. Pemberton, and was initially sold at a local pharmacy's soda fountain. An Atlanta businessman named Asa Griggs Candler bought the formula and brand, incorporating The Coca-Cola Company in 1892. A key decision was made in 1899 to sell the rights to bottle Coca-Cola to independent bottling companies, which allowed the system to grow rapidly. Over many decades, the company expanded globally and acquired other beverage brands to become one of the world's largest beverage companies.
What it actually does
The Coca-Cola Company is a beverage company that makes and sells a wide variety of nonalcoholic drinks in more than 200 countries. Most people know its flagship product, Coca-Cola, but the company also offers over 200 other brands. These include sparkling drinks like Sprite and Fanta, waters like Dasani and smartwater, sports drinks like Powerade and BODYARMOR, and juices and plant-based drinks like Minute Maid and Simply. The company primarily manufactures and sells concentrates (the syrups and flavor bases for its drinks) to a global network of bottling partners who then package and sell the final product.
Europe, Middle East & Africa
This part of the business sells the company's beverage concentrates and syrups to bottling partners across Europe, the Middle East, and Africa. These local bottlers then produce the final drinks and sell them to stores, restaurants, and other outlets. This segment represents a significant portion of the company's global sales. The company focuses on tailoring its products and marketing to the diverse tastes and cultures within this large geographic region.
Latin America
In Latin America, the company follows a similar model of selling beverage concentrates and syrups to a network of local bottling partners. This region is a major market for Coca-Cola's sparkling soft drinks. The business here focuses on working with its bottling partners to make sure its wide range of drinks are available in everything from large supermarkets to small local stores. This segment is a substantial contributor to the company's overall revenue (the total money a company brings in from sales).
North America
This is Coca-Cola's home market and one of its largest, accounting for about 40% of its revenue. In addition to selling concentrates to bottlers, this segment also includes the sale of finished products, like juices and dairy drinks, directly to retailers. It serves a huge variety of customers, from grocery stores and movie theaters to restaurants and vending machines. This segment is crucial to the company's overall performance and brand identity.
Asia Pacific
Covering a vast and diverse area, this segment sells beverage concentrates and syrups to bottlers across Asia and the Pacific region. This is a key growth area for the company, with a focus on adapting to local tastes and expanding into new and emerging markets. The company works to offer affordable options and smaller package sizes to appeal to a wide range of consumers in this region. This segment is a significant and growing piece of the company's global business.
Bottling Investments
This segment consists of the bottling operations that The Coca-Cola Company directly owns and operates itself, which are located in various parts of the world. While the company's main strategy is to work with independent franchise bottlers, it sometimes owns its own bottling plants to ensure smooth operations in certain markets. This is a smaller part of the overall business, as the company has been strategically selling many of its owned bottling operations to its independent partners.
What management is betting on now
The company is focused on growing its core brands like Coca-Cola while also expanding its portfolio in other drink categories like coffee, sports drinks, and water. A major priority is innovation in products, including offering more low-sugar and zero-sugar options to meet changing consumer preferences. Management is also heavily investing in digital marketing and data analysis to better connect with consumers and improve how they sell their products. They are also committed to sustainability goals, such as improving water efficiency and using more recycled materials in their packaging.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-1.73B
FY2024 Q4
$3.15B
FY2025 Q1
$-5.51B
FY2025 Q2
$3.37B
FY2025 Q3
$4.56B
FY2025 Q4
$2.87B
FY2026 Q2
$1.75B
Revenue
$12.47B
Net income
$3.92B
Diluted EPS
0.91
Operating cash flow
$2.02B
Free cash flow
$1.75B
Fetching…
Sources
Revenue
$11.82B
Net income
$2.27B
Diluted EPS
0.53
Operating cash flow
$3.76B
Free cash flow
$2.87B
Fetching…
Sources
Revenue
$12.46B
Net income
$3.70B
Diluted EPS
0.86
Operating cash flow
$5.04B
Free cash flow
$4.56B
Fetching…
Sources
Revenue
$12.54B
Net income
$3.81B
Diluted EPS
0.88
Operating cash flow
$3.81B
Free cash flow
$3.37B
Fetching…
Sources
Revenue
$11.13B
Net income
$3.33B
Diluted EPS
0.77
Operating cash flow
$-5.20B
Free cash flow
$-5.51B
Fetching…
Sources
Revenue
$11.54B
Net income
$2.19B
Diluted EPS
0.50
Operating cash flow
$3.95B
Free cash flow
$3.15B
Fetching…
Sources
Revenue
$11.85B
Net income
$2.85B
Diluted EPS
0.66
Operating cash flow
$-1.26B
Free cash flow
$-1.73B
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $82.20
We couldn't calculate a fair value right now.
Is it drowning in debt?
Watch
Net debt $30.8B. Interest coverage 9.0x.
Net debt
$30.83B
Interest coverage
9.02x
Coca-Cola Company (The)'s profit covers its interest bill about 9.0 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
KO
BASELINE
Coca-Cola Company (The)
Total debt $44.65B Interest coverage 9.02x This is the baseline the peer rows are being compared against.
Total debt $53.21B Interest coverage 12.03x +33% vs KO Carries about 1.3x more debt cushion than KO.
Total debt $94.47M Interest coverage 38.30x +325% vs KO Carries about 4.2x more debt cushion than KO.
Total debt $28.89B Interest coverage 4.84x -46% vs KO Carries about 1.9x less debt cushion than KO.
Total debt $10.53B Interest coverage 7.92x -12% vs KO Has roughly the same debt cushion as KO.
Total debt $675.88M Interest coverage 9.57x +6% vs KO Has roughly the same debt cushion as KO.
What you should know
The case for and against KO
3 Rewards
3 Risks
Rewards
-
Revenue grew 2.8% last year.
-
Returns 43.4% on equity, ahead of 66% of its peers.
-
Free cash flow was positive in 10/10 years.
Risks
-
Net debt grew 7.9% over 3 years.
-
Insider ownership is only 9.9% (peer median: 12.9%).
-
Stock trades 1.8% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
25.77x
Forward P/E
23.60x
P/B
10.52x
P/S
—
EV/EBITDA
23.13x
PEG ratio
4.01x
Profitability
How much profit each dollar creates
Gross margin
61.7%
Operating margin
35.1%
Net margin
27.8%
ROE
43.4%
ROA
9.5%
Health
Liquidity and balance-sheet strength
Debt / equity
1.25x
Current ratio
1.36x
Quick ratio
0.78x
Total debt
$44.65B
Total cash
$13.82B
Growth
How the business has been compounding
Revenue TTM
$49.28B
Revenue 5Y CAGR
5.5%
EPS TTM
3.19
EPS 5Y CAGR
11.6%
Cash flow
How much cash the business throws off
Operating CF TTM
$14.63B
Free CF TTM
$5.30B
FCF margin
10.7%
Dividend
Shareholder payout
Yield
2.6%
Payout ratio
64.8%
Last ex-div date
2026-09-15