Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Coca-Cola Company (The)

KO stock analysis · Consumer Staples · Soft Drinks & Non-alcoholic Beverages

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$81.27HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$349.7B

Price × SEC outstanding shares. Shares measured 2026-04-28. Approximate; share and price dates can differ.

View share-count filing ↗
Momentum data and stock-split review

The current issuer FAQ enumerates all eleven stock splits and expressly identifies the August 2012 two-for-one distribution as the last split. The reviewed same-ISIN fund observations are later than that event. Split multiplier 1 is limited to this one interval; cash dividends are excluded. Fund values divided by held shares are indicative price-return proxies, not exchange closes or total returns.

Issuer action history 1 ↗

Fund valuation at 2025-06-30 ↗ · Fund valuation at 2026-05-31 ↗

Valuation

DCF value

$18.70

Equity cash-flow scenario · SEC outstanding shares at 2026-04-28 · -77.0% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

44.7%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

-11.2%

26 sector peers · median 23.7×

How this is calculated ↗
Valuation

Historical multiples

26.7×

7 annual observations · snapshot P/E 26.7× · -0.1% versus history

How this is calculated ↗
Valuation

Free cash flow yield

1.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

17.2%

Normalized tax · financing-capital proxy · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

23/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

11.7%

2025-06-30 → 2026-05-31 · Reviewed split basis · fund snapshot

How this is calculated ↗
Investment

Asset growth

4.2%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

2.6%

Annual basis · read assumptions below

How this is calculated ↗
Quality

Accrual quality

5.6%

Annual basis · read assumptions below

How this is calculated ↗
Momentum

Fundamental momentum

3.4%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 12.6B2020-12-31: cfo $9,844,000,000.002020-12-31: capex $1,177,000,000.0020202021-12-31: cfo $12,625,000,000.002021-12-31: capex $1,367,000,000.0020212022-12-31: cfo $11,018,000,000.002022-12-31: capex $1,484,000,000.0020222023-12-31: cfo $11,599,000,000.002023-12-31: capex $1,852,000,000.0020232024-12-31: cfo $6,805,000,000.002024-12-31: capex $2,064,000,000.0020242025-12-31: cfo $7,408,000,000.002025-12-31: capex $2,112,000,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$23.45$25.59$27.88
10.0%$17.18$18.70$20.32
12.0%$13.56$14.71$15.95

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-3147.9B13.1B7.4B2.1B104.8B
2024-12-3147.1B10.6B6.8B2.1B100.5B
2023-12-3145.8B10.7B11.6B1.9B97.7B
2022-12-3143B9.6B11B1.5B92.8B
2021-12-3138.7B9.8B12.6B1.4B94.4B
2020-12-3133B7.8B9.8B1.2B87.3B
2019-12-3137.3B9B10.5B2.1B86.4B
2018-12-3134.3B6.5B7.6B1.5B83.2B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue47.9BRevenues2026-02-20
netIncome13.1BProfitLoss
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent/common earnings proxy13.1BNetIncomeLoss2026-02-20
cfo7.4BNetCashProvidedByUsedInOperatingActivities2026-02-20
capex2.1BPaymentsToAcquirePropertyPlantAndEquipment2026-02-20
operatingIncome13.8BOperatingIncomeLoss2026-02-20
assets104.8BAssets2026-02-20
equity34.3BStockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
Explicit consolidated amount, including the portion attributable to noncontrolling interests.
2026-02-20
Parent book equity proxy32.2BStockholdersEquity2026-02-20
debt43.9BLongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities2026-02-20
shortDebtNot reported under a supported tag
cash10.3BCashAndCashEquivalentsAtCarryingValue2026-02-20
shares4.3BWeightedAverageNumberOfDilutedSharesOutstanding2026-02-20
dividends8.8BPaymentsOfDividends2026-02-20
buybacks746MPaymentsForRepurchaseOfCommonStock2026-02-20
issuance313MProceedsFromIssuanceOfCommonStock2026-02-20