The Coca-Cola CompanyKO
NYSE•Consumer Defensive•Beverages - Non-Alcoholic
The Coca-Cola Company, a beverage company, manufactures and sells various nonalcoholic beverages in the United States and internationally. The company provides Trademark Coca-Cola, sparkling soft drinks and flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and emerging beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers comprising restaurants and convenience stores. The company sells its products under the Coca-Cola, Diet Coke/Coca-Cola Light, Coca-Cola Zero Sugar, caffeine free Diet Coke, Cherry Coke, Fanta, Sprite, Simply, Fanta Orange, Fanta Zero Orange, Fanta Zero Sugar, Fanta Apple, Sprite Zero Sugar, Simply Orange, Simply Apple, Simply Grapefruit, Fresca, Schweppes, Thums Up, Aquarius, Ayataka, BODYARMOR, Ciel, Costa, Crystal, Dasani, Fuze Tea, Georgia, glacéau smartwater, glacéau vitaminwater, Gold Peak, I LOHAS, Powerade, Topo Chico, Core Power, Del Valle, fairlife, innocent, Maaza, Minute Maid, Minute Maid Pulpy, Santa Clara, and dogadan brands. It operates through a network of independent bottling partners, distributors, wholesalers, and retailers, as well as through bottling and distribution operators. The Coca-Cola Company was founded in 1886 and is headquartered in Atlanta, Georgia.
Coca-Cola Company (The) (KO) reported trailing twelve months revenue of $49.28B as of April 2026, a 5.1% increase year-over-year. Quarterly revenue reached $12.47B, reflecting continued top-line momentum.
Coca-Cola Company (The) generated $13.70B in TTM net income, with quarterly EBITDA of $4.62B. The operating margin expanded from 32.9% to 35.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (35.0%) and net margin (31.5%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 29.9% a year ago, signaling stronger bottom-line efficiency.
KO trades at a P/E of 24.1x (in line with broad market averages) and a P/S of 6.7x. The price-to-book ratio of 9.8x indicates a significant premium over book value.
The company generated $1.75B in free cash flow over the trailing twelve months, a 131.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $104.22B in total assets with $39.06B in long-term debt against $33.63B in stockholders equity for a debt-to-equity ratio of 1.2. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~26.9%, suggesting durable pricing power and cost discipline.
Consistently high ROE averaging 41.3% suggests a durable competitive advantage and efficient capital allocation.
6 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 5 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~29.2% — no sign of cost or pricing stress.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 1.2 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 8 quarters — occasional cash consumption.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation