The Coca-Cola Company
- Open
- 88.06
- Day high
- 88.95
- Day low
- 87.73
- Prev close
- 88.00
- Volume
- 17.2M
- Mkt cap
- $379.7B
- P/E (TTM)
- 26.5
- EPS (TTM)
- $3.33
- P/B
- 10.5
- P/S
- 7.6
- Yield
- 2.36%
- Per share
- $2.08
- ▼Insiders net selling -$140.5M over the last 3 months (0 open-market buys, 19 sales)
- 🏛Institutions mixed (13F)
The Coca-Cola Company (KO) is a Consumer Defensive company listed on NYSE. The stock is up 28% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 19 sales (SEC Form 4). Drillr has 2 published research articles covering KO.
The Coca-Cola Company (KO) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 13 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
KO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 28, 2026 | $0.92 | $0.97 | +5.4% | $13.4B | +1.5% |
| Apr 28, 2026 | $0.81 | $0.86 | +5.9% | $12.5B | +1.9% |
| Oct 21, 2025 | $0.78 | $0.82 | +5.3% | $12.5B | +0.4% |
| Jul 22, 2025 | $0.83 | $0.87 | +4.3% | $12.5B | -0.3% |
| Apr 29, 2025 | $0.71 | $0.73 | +2.2% | $11.1B | -0.3% |
| Oct 23, 2024 | $0.74 | $0.77 | +4.1% | $11.9B | +2.1% |
| Jul 23, 2024 | $0.81 | $0.84 | +4.2% | $12.4B | +5.0% |
| Apr 30, 2024 | $0.70 | $0.72 | +2.9% | $11.3B | +2.7% |
| Feb 13, 2024 | $0.49 | $0.49 | +0.0% | $10.8B | +1.6% |
| Jul 26, 2023 | $0.72 | $0.78 | +8.3% | $12.0B | +12.7% |
| Feb 14, 2023 | $0.45 | $0.45 | +0.0% | $10.1B | +1.2% |
| Jul 26, 2022 | $0.67 | $0.70 | +4.5% | $11.4B | +7.5% |
KO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 24, 2026 | Pietracci Brunoother: President, Latin America OU | Sell | 29,246 | $90.93 |
| Aug 24, 2026 | Pietracci Brunoother: President, Latin America OU | Option | 40,754 | $60.02 |
| Aug 24, 2026 | Pietracci Brunoother: President, Latin America OU | Option | 29,246 | $60.27 |
| Aug 24, 2026 | Pietracci Brunoother: President, Latin America OU | Option | 41,365 | $61.34 |
| Aug 21, 2026 | QUAN NANCYofficer: Executive Vice President | Option | 50,000 | $50.44 |
| Aug 21, 2026 | QUAN NANCYofficer: Executive Vice President | Sell | 50,000 | $90.39 |
| Aug 11, 2026 | Ray Sanketother: President INSWA | Sell | 9,958 | $86.50 |
| Aug 7, 2026 | Ortega Luisaother: Europe OU President | Option | 10,684 | $59.48 |
| Aug 7, 2026 | Ortega Luisaother: Europe OU President | Option | 7,628 | $48.08 |
| Aug 7, 2026 | Ortega Luisaother: Europe OU President | Sell | 19,772 | $86.67 |
| Aug 7, 2026 | Ortega Luisaother: Europe OU President | Option | 21,848 | $50.44 |
| Aug 7, 2026 | Ortega Luisaother: Europe OU President | Sell | 35,983 | $86.55 |
| Aug 3, 2026 | MURPHY JOHNofficer: President and CFO | Option | 152,483 | $44.48 |
| Aug 3, 2026 | MURPHY JOHNofficer: President and CFO | Sell | 152,483 | $87.31 |
| Jul 30, 2026 | Quincey Jamesdirector, officer: Chairman | Option | 381,140 | $45.44 |
Source: KO SEC Form 4 filings, latest Aug 24, 2026. For informational purposes only — not investment advice.
See the full KO insider & 13F page →KO research & analysis
[KO] Coca-Cola Thesis 2026: Organic Growth and Margin Expansion Accelerate
Coca-Cola FY25 (Dec 31, 2025) at $47.9B revenue (+2% reported / +5% organic). Volume even (0%) FY; Q4 price/mix -3% on timing. OpMargin 28.7% (vs 21.2% FY24 with charges). Net income $13.1B; OCF $7.4B (incl $6.1B fairlife milestone); adjusted FCF ex-fairlife $11.4B. Capital return $9.5B (div $8.8B + buyback $0.7B; 63rd consecutive div increase, $2.04/share). Sell-side: 11 covered actions Feb-Apr 2026, all maintains, 10 of 11 PT raises (RBC +$9, WF +$8); consensus ~$86, range $83-$90.
[COKE] Coca-Cola Consolidated Thesis 2026: Sparkling Volume Cycle Drives Bottler Margin Recovery
Coca-Cola Consolidated Inc. (NASDAQ: COKE) FY2025 revenue ~$6.9-7.2B (+1-5%) with diluted EPS ~$50-58 reflecting continued post-2024 ~14 state Southeast + Mid-Atlantic + selected various US Coca-Cola bottling territory operations (~70M+ Coca-Cola Company sparkling case volume + ~25-30M+ aggregate Still beverage case volume aggregated annual production) + selected continued post-2024 ~$3.1B aggregate ~$3,200/share special dividend completed (post-November 2023) + selected continued post-2024 sparkling beverage volume growth + selected various Still beverage portfolio expansion under continued Chairman + CEO J. Frank Harrison III since 1994 (~31-year tenure as Chairman + CEO). The largest US Coca-Cola Company bottler. Founded 1902 as Coca-Cola Bottling Co. Consolidated in Charlotte North Carolina by J.B. Harrison + selected various Charlotte families (~123-year heritage); selected post-1972 NASDAQ listing IPO; selected post-2017 ~$1.6B aggregate The Coca-Cola Company bottler refranchising acquisition completing ~$8B aggregate The Coca-Cola Company refranchising; selected post-2018 selected name change from Coca-Cola Bottling Co. Consolidated to Coca-Cola Consolidated Inc.; selected post-November 2023 ~$3.1B aggregate ~$3,200/share special dividend completed. Headquartered in Charlotte North Carolina; ~17,000+ employees globally with ~$6.9-7.2B revenue. Two primary product segments: Sparkling Beverages (~80% ~$5.5-5.8B), Still Beverages + Other (~20% ~$1.4-1.5B). Geographic + territory mix: Southeast ~70% + Mid-Atlantic ~25% + selected various ~5%. Sparkling beverage volume + Still portfolio: ~70M+ Coca-Cola Company sparkling case volume + ~25-30M+ aggregate Still beverage case volume; selected post-2017 territorial expansion ~$1.6B aggregate; selected ~32%+ aggregate US Coca-Cola territorial volume share; selected continued post-2024 ~$2-3M aggregate annual cost-of-product hedging programs supporting selected continued gross margin stability. Largest US Coca-Cola bottler scale + territory: 14 state Southeast + Mid-Atlantic territory; ~$8B aggregate The Coca-Cola Company refranchising; selected ~32%+ aggregate US Coca-Cola territorial volume share; ~17,000+ employees globally. Chairman + CEO J. Frank Harrison III since 1994 (~31-year tenure); CFO David M. Katz. Capital return: ~$10.00 annual base dividend FY2025 (~+0% growth); selected post-November 2023 ~$3.1B aggregate ~$3,200/share special dividend completed; modest opportunistic buybacks; aggregate capital return ~$1B; net cash position ~$0.5-1B; investment-grade Baa1/A- credit rating; selected ~85%+ Harrison family aggregate voting control via Harrison Family LLC + selected various trusts. FY2026 thesis: Sparkling beverage volume cycle + Still beverage portfolio + ~14 state Southeast + Mid-Atlantic Coca-Cola bottling territory + ~$10.00 annual base dividend + selected potential post-2024 special dividend acceleration + selected continued ~85%+ Harrison family voting control + selected ~123-year company heritage. Risks: sparkling beverage volume cyclical, The Coca-Cola Company concession contract renewal, raw material volatility, Pepsi competitive, ~85%+ Harrison family voting control concentration.
COKE
The Coca-Cola Company company profile
Overview
The Coca-Cola Company (NYSE:KO) is one of the world's largest beverage companies, founded in 1886 and headquartered in Atlanta, Georgia. What began as a single cola drink has evolved into a global beverage empire spanning nearly 140 years. The company went public in 1919 and has since become synonymous with non-alcoholic beverages worldwide. Today, Coca-Cola operates in virtually every country, serving consumers through an extensive network of bottling partners and distributors. The company has built one of the most recognizable brand portfolios in consumer goods, with over 30 billion-dollar brands and a presence in multiple beverage categories beyond its flagship Coca-Cola brand.
Business
The Coca-Cola Company operates in the global non-alcoholic beverage industry, which encompasses everything from traditional carbonated soft drinks to water, sports drinks, juices, coffee, and tea. The industry serves consumers seeking hydration, refreshment, energy, and taste experiences across various consumption occasions throughout the day. Core Business Segments: 1. **Sparkling Soft Drinks (Primary Revenue Driver, ~60-65% of volume)**: This includes the flagship Coca-Cola brand family (Coca-Cola Classic, Diet Coke, Coca-Cola Zero Sugar), Sprite, Fanta, and other carbonated beverages. These products are sweetened, flavored, carbonated drinks that provide refreshment and taste satisfaction. 2. **Water, Sports, Coffee & Tea (~20-25% of volume)**: This segment includes Dasani and smartwater (bottled water), Powerade and BODYARMOR (sports drinks), Costa (coffee), and various tea brands. Sports drinks contain electrolytes and are marketed to active consumers, while bottled water serves the growing health-conscious market. 3. **Juice, Dairy & Plant-Based Beverages (~10-15% of volume)**: This includes Simply juices, Minute Maid, fairlife (ultra-filtered milk), and AdeS (plant-based). These products target consumers seeking nutritional benefits, with fairlife being a premium dairy product that uses ultra-filtration to increase protein content while reducing sugar. 4. **Other Beverages**: This encompasses energy drinks, enhanced waters like vitaminwater, and regional brands like Thums Up in India. The company operates what's called a "concentrate business model" where Coca-Cola produces beverage concentrates and syrups, then sells these to independent bottling partners who add water, package the final products, and distribute them to retailers. This asset-light model allows global reach while minimizing capital requirements.
Revenue model
Coca-Cola generates revenue through multiple streams within its concentrate-based business model. The company primarily makes money by selling beverage concentrates and syrups to independent bottling partners, who then produce the finished beverages. Additionally, the company sells finished products directly in certain markets and operates some company-owned bottling operations. **Revenue Streams:** 1. **Concentrate Sales (~70-80% of revenue)**: Coca-Cola sells concentrated syrup to bottling partners at predetermined prices. This is highly profitable as concentrates have low production costs but command premium pricing due to brand strength. 2. **Finished Product Sales (~20-30% of revenue)**: Direct sales of ready-to-drink beverages in markets where the company maintains bottling operations or sells through distributors. 3. **Fountain Syrup Sales**: Sales to restaurants, fast-food chains, and convenience stores that mix syrup with carbonated water on-site. **Customer Base**: The paying customers are primarily independent bottling partners (like Coca-Cola Consolidated), foodservice operators (McDonald's, restaurants), and retailers (grocery chains, convenience stores), rather than end consumers directly. **Margin Influencing Factors:** *Positive margin drivers include:* Strong brand equity allowing premium pricing, economies of scale in concentrate production, successful product innovations, effective revenue growth management (optimizing price/volume mix), and operational efficiency improvements through AI and digital tools. *Negative margin pressures include:* Rising commodity costs (aluminum, sugar, packaging materials), currency fluctuations in international markets, competitive pricing pressure, economic downturns affecting consumer spending, potential regulatory changes on sugar content, and the need for continuous marketing investment to maintain brand relevance. The company's margins are also sensitive to the performance of away-from-home channels (restaurants, entertainment venues) which typically offer higher margins than retail channels.
Competitive moat
Coca-Cola possesses one of the strongest and most durable economic moats in consumer goods, built on multiple reinforcing competitive advantages. The company's brand strength represents its primary moat - Coca-Cola is arguably the world's most recognized brand, with the trademark alone valued at over $80 billion. This brand equity allows the company to command premium pricing and maintain consumer loyalty across generations and cultures. The company's global distribution network creates significant barriers to entry. Coca-Cola's system of independent bottling partners provides near-universal market access while requiring minimal capital investment from the parent company. This network, built over more than a century, would be extremely difficult and expensive for competitors to replicate. The economies of scale in marketing, concentrate production, and procurement provide cost advantages that smaller competitors cannot match. Customer switching costs also contribute to the moat. Restaurants and foodservice operators invest in Coca-Cola dispensing equipment and develop customer expectations around specific beverage offerings. The company's portfolio breadth with over 30 billion-dollar brands allows it to capture multiple consumption occasions and consumer preferences, making it difficult for single-brand competitors to displace. However, the moat faces several challenges. Health consciousness trends pose long-term risks to traditional carbonated soft drinks, though Coca-Cola has responded by diversifying into water, sports drinks, and low-calorie options. Private label competition in basic categories like bottled water presents pricing pressure. The rise of functional beverages and new distribution channels (direct-to-consumer, e-commerce) could potentially bypass traditional retail advantages. Additionally, regulatory pressures around sugar content and environmental concerns about packaging create ongoing challenges. Despite these pressures, Coca-Cola's moat remains formidable due to its brand strength, distribution reach, and financial resources to adapt to changing consumer preferences through innovation and acquisition.
Risks & safety
**Overall Assessment**: Coca-Cola presents a strong margin of safety with excellent financial stability, though trading at premium valuations typical of quality defensive stocks. **Liquidity and Solvency:** - Strong cash position: $10.8 billion in cash and short-term investments - Current ratio of 1.03, indicating adequate short-term liquidity - Positive free cash flow of $4.7 billion (FY 2024), demonstrating strong cash generation - Debt-to-equity ratio of 1.79, elevated but manageable given stable cash flows - No immediate solvency concerns given consistent profitability and cash generation **Valuation Metrics:** - P/E ratio of 25.2x (FY 2024), reflecting premium valuation for quality - EV/EBITDA of 19.1x, reasonable for a defensive consumer staple - Price-to-book ratio of 10.8x, high but typical for asset-light business model - Dividend yield around 3%, supported by strong cash flows **Other Considerations:** - Recession-resistant business model with consistent demand - Geographic diversification reduces single-market risk - Strong brand portfolio provides pricing power - Potential headwinds from health trends and regulatory pressures on sugar content
Recent development
Over the past few years, Coca-Cola has undergone significant strategic transformation focused on digital capabilities, portfolio optimization, and marketing evolution. The company has embraced an "all-weather strategy" designed to navigate dynamic market conditions while maintaining growth. **Digital and Technology Transformation**: Coca-Cola launched Studio X, a comprehensive digital marketing ecosystem that has revolutionized their approach to consumer engagement. Digital media spending increased from less than 30% in 2019 to approximately 60% by 2023. The company has integrated artificial intelligence across operations, using AI for price optimization, retailer messaging, and personalized marketing experiences. These digital capabilities have enabled faster innovation cycles and more targeted consumer outreach. **Portfolio and Innovation Strategy**: The company has accelerated its focus on taste superiority across its portfolio, launching reformulations for Sprite and Fanta in 25 markets. Innovation now contributes approximately 30% of gross profit growth. The fairlife brand has emerged as a major success story, growing 15% in volume and representing the company's push into premium, functional beverages. Coca-Cola has also expanded its low and no-calorie offerings, with these products now representing 30% of total volume. **Marketing and Brand Evolution**: The company shifted to a digital-first marketing approach, with initiatives like Coke Studio generating over 1.2 billion YouTube views. Strategic partnerships, including collaborations with Marvel and Olympic Games activations across 65 markets, have strengthened brand relevance. The Coca-Cola brand value increased by $8 billion during this transformation period. **Operational Excellence**: Coca-Cola has implemented comprehensive revenue growth management strategies, balancing affordability and premiumization to optimize price-volume mix. The company created $15 billion in incremental retail sales for customers through these initiatives. Continued investment in cold drink equipment and outlet coverage has strengthened distribution capabilities, while AI-enabled solutions have improved operational efficiency across the value chain.
KO company profile · for informational purposes only — not investment advice.
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