Coca Cola Co (KO)
Consumer Staples · Soft Drinks & Non-alcoholic Beverages · US stock · S&P 500 component
$95.34
▲ +2.66 (2.87%)
Fair valueOvervalued
$78 −18.4% to fair value
$39fair band $66–$94$117
Day's range
$93.60 – $95.37
52-week range
$67.27 – $95.37
About Coca Cola Co
Coca-Cola makes beverage concentrates and syrups, which it supplies to bottling partners who produce, package and distribute finished drinks. The portfolio includes Coca-Cola, Sprite, Fanta, Dasani, Minute Maid, Powerade and smartwater, as well as coffee, tea, juice and sports drinks. Customers include bottlers, restaurants, supermarkets, convenience stores and vending operators in countries around the world.
The company earns money mainly from concentrate and syrup supplied to bottlers, plus some finished beverages. Revenue for the last twelve months was $49.3 billion, and it has grown at 3.7% a year across the last three years. The operating margin is 29.3%, and the business earns a profit of 18% on the capital invested in it. It carries net debt of 2.1 times EBITDA. A dividend is paid, with a yield of 2.2%. On the site's X-Ray Score it receives 43 out of 100.
Price chart
52-wk range $67.27 – $95.37Volume 17,106,706Daily, split-adjusted
Vitals
Market cap$411.3B
52-week range$67.27 – $95.37
Volume (last day)17,106,706
P/E (TTM)30.0
EBIT / EV yield3.2%
Free-cash-flow yield3.1%
Dividend yield2.2%
Revenue (TTM)$49.3B
Net income (TTM)$13.7B
Operating margin29.3%
Return on capital18.0%
Debt incl. leases$43.8B
Cash & securities$10.6B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$78middle half of models $74 – $88
Overvalued
−18.4% to fair value
Average of the 14 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $95
Undervalued < $66Fair $66 – $94Overvalued > $94
P/E multiple
$93
P/B multiple
$86
P/S multiple
$72
EV/EBITDA multiple
$83
EV/EBIT multiple
$82
EV/revenue multiple
$79
10-year DCF, EBITDA exit
$84
5-year DCF, EBITDA exit
$90
10-year DCF, revenue exit
$84
5-year DCF, revenue exit
$89
10-year DCF, growth exit
$46
5-year DCF, growth exit
$45
Dividend discount, stable
$104
Dividend discount, multi-stage · not used
$192
Earnings power value
$52
Growth the price implies
17.0%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, priced high
Our models put fair value below today's price, so a lot of good news may already be in the price. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Consumer Staples peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
13/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield3.2%
Free-cash-flow yield3.1%
Fair value vs price0.8×
Growth
Weak
50/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)3.7%
EPS growth (3y)11.6%
Growth consistency80%
Profitability
Weak
48/100
Earns lower returns on its capital than most peers.
See the numbers →
Return on invested capital18.0%
Operating margin29.3%
Gross profitability29.2%
Financial health
Fair
64/100
Balance sheet is in typical shape for its sector.
See the numbers →
Piotroski F-Score7 / 9
Net debt / EBITDA2.1×
Interest cover8.8×
Dividends
Weak
48/100
Dividend is modest or less certain than peers.
See the numbers →
Dividend yield2.2%
Dividends vs free cash flow72%
Dividend growth4.9%
Quarterly results: last 6 quarters
+6.4%
Dec '24
-1.5%
Mar '25
+1.4%
Jun '25
+5.1%
Sep '25
+2.4%
Dec '25
+12.1%
Apr '26
Revenue against the same quarter a year earlier. Latest quarter revenue $12.5B, diluted EPS $0.91.
Compare with peers
MNST Monster Beverage Corp77 PEP Pepsico Inc60 KDP Keurig Dr Pepper Inc.50Other Soft Drinks & Non-alcoholic Beverages companies by X-Ray Score.
SWOT analysis: Coca Cola Co
Strengthsinside the company
- Return on invested capital is 18.0%, against a median of 17.7% for industry peers.
- Operating margin of 29.3% is well above the 16.2% median of industry peers, a sign of pricing power or lower costs.
- Passes 7 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.
Weaknessesinside the company
- No clear weakness in the figures we track.
Opportunitiesvaluation and setting
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Trades at 30.0x earnings, 37% above the 22.0x median of industry peers, so the price already assumes better results.
- The price is 18% above our fair value estimate, so there is little room for disappointment.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare KO with peers and sector
Medians of 3 Soft Drinks & Non-alcoholic Beverages peers and of 28 Consumer Staples stocks in our universe.
Largest peers (X-Ray Score): PEP 60, KDP 50, MNST 77.
| Metric | KO | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 43 | 60 | 51 |
| Valuation | 13 | 75 | 53 |
| Growth | 49 | 70 | 48 |
| Profitability | 48 | 61 | 53 |
| Financial health | 64 | 42 | 46 |
| Dividends | 48 | – | 51 |
Sector leaders: highest X-Ray Score in Consumer Staples
KO ranks #21 of 29 in Consumer Staples and #4 of 4 in Soft Drinks & Non-alcoholic Beverages by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for KO
Each factor is rated by where KO stands among the 29 Consumer Staples stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 8 Good · 7 Average · 8 Bad of 23
Growth: 1 · 2 · 0
Profitability: 4 · 1 · 0
Financial strength: 2 · 2 · 0
Valuation: 0 · 1 · 4
Cash flow: 1 · 0 · 3
Efficiency: 0 · 1 · 1
| Factor | KO | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +3.7% | Average beats 63% | +2.3% | – | – |
| Revenue growth, last year | +1.9% | Average beats 45% | +2.2% | +6.4% | ▼ Worse |
| EPS growth, 3 years a year | +11.6% | Good beats 78% | +2.0% | – | – |
| Profitability | |||||
| Gross margin | 61.7% | Good beats 87% | 38.7% | 60.3% | ≈ In line |
| Operating margin | 29.3% | Good beats 91% | 11.0% | 25.4% | ▲ Better |
| Net margin | 27.8% | Good beats 95% | 6.9% | 23.4% | ▲ Better |
| Return on invested capital | 18.0% | Average beats 61% | 15.2% | – | – |
| Return on equity | 40.7% | Good beats 79% | 18.6% | 41.3% | ≈ In line |
| Financial strength | |||||
| Net debt / EBITDA | 2.1x | Average beats 46% | 2.0x | 2.6x | ▲ Better |
| Interest cover | 8.8x | Average beats 37% | 11.8x | 7.4x | ▲ Better |
| Current ratio | 1.36 | Good beats 77% | 1.04 | 1.13 | ▲ Better |
| Piotroski F-score | 7 / 9 | Good beats 79% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 30.0x | Average beats 39% | 25.0x | 25.3x | ▼ Worse |
| Price / book | 12.2x | Bad beats 17% | 4.5x | 10.8x | ▼ Worse |
| Price / sales | 8.3x | Bad beats 2% | 1.8x | 6.3x | ▼ Worse |
| EV / EBITDA | 28.8x | Bad beats 10% | 15.2x | 24.9x | ▼ Worse |
| Free cash flow yield | 3.1% | Bad beats 17% | 4.8% | 3.4% | ≈ In line |
| Cash flow | |||||
| Free cash flow margin | 25.5% | Good beats 90% | 9.3% | 21.3% | ▲ Better |
| Cash from operations / net income | 1.07 | Bad beats 15% | 1.54 | 1.08 | ≈ In line |
| Free cash flow growth, 3 years a year | −17.8% | Bad beats 2% | +11.0% | – | – |
| Accruals (lower is better) | −0.9% | Bad beats 10% | −4.2% | – | – |
| Efficiency | |||||
| Inventory turnover | 4.0x | Bad beats 27% | 5.3x | 4.2x | ≈ In line |
| Days sales outstanding | 27 days | Average beats 64% | 35 days | 28 days | ≈ In line |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 5 Good · ● 6 Average · ● 5 BadCash quality
Earnings backed by cashBad
Free-cash-flow yieldBad
Risk models
Altman Z''Good
Piotroski F-ScoreGood
Growth
EPS growth (3y)Good
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Average
Growth consistencyAverage
Balance sheet
Current ratioGood
Net debt / EBITDAAverage
Interest coverAverage
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalAverage
Operating marginGood
Gross profitabilityAverage
Each check is graded against the company's sector, not a fixed number. Checklist score 43/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $38.7B | $43.0B | $45.8B | $47.1B | $47.9B |
| Operating income | $10.3B | $10.9B | $11.3B | $10.0B | $13.8B |
| Net income | $9.8B | $9.5B | $10.7B | $10.6B | $13.1B |
| Operating cash flow | $12.6B | $11.0B | $11.6B | $6.8B | $7.4B |
| Operating margin | 26.7% | 25.4% | 24.7% | 21.2% | 28.7% |
| Free cash flow | $11.3B | $9.5B | $9.7B | $4.7B | $5.3B |
| Diluted EPS | $2.25 | $2.19 | $2.47 | $2.46 | $3.04 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
12 bullish · 0 neutral · 4 bearish
Weekly
Strongly bullish
11 bullish · 0 neutral · 1 bearish
Monthly
Strongly bullish
7 bullish · 0 neutral · 1 bearish
Moving averages (daily)
| SMA 10 | 92.06 | Bullish |
| EMA 10 | 92.19 | Bullish |
| SMA 20 | 89.32 | Bullish |
| EMA 20 | 90.56 | Bullish |
| SMA 50 | 88.76 | Bullish |
| EMA 50 | 88.50 | Bullish |
| SMA 100 | 85.60 | Bullish |
| EMA 100 | 85.84 | Bullish |
| SMA 200 | 80.67 | Bullish |
| EMA 200 | 81.54 | Bullish |
Oscillators (daily)
| RSI (14) | 74.03 | Bearish |
| MACD (12, 26) | 1.75 | Bullish |
| Momentum (12) | 10.64 | Bullish |
| Stochastic %K (14) | 99.71 | Bearish |
| Williams %R (14) | -0.29 | Bearish |
| CCI (20) | 131.7 | Bearish |
Pivot points (classic, last session)
S3 92.40 | S2 93.00 | S1 94.17 | Pivot 94.77 | R1 95.94 | R2 96.54 | R3 97.71 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
Dividends
Paid, last 12 months
2.10 USD
Yield on today's price
2.20%
Frequency
Quarterly
Next ex-dividend date
1 Dec 2026
| Ex-dividend date | Amount per share |
|---|---|
| (upcoming) | 0.5300 |
| 0.5300 | |
| 0.5300 | |
| 0.5300 | |
| 0.5100 | |
| 0.5100 | |
| 0.5100 | |
| 0.5100 | |
| 0.4850 | |
| 0.4850 | |
| 0.4850 | |
| 0.4850 |
Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.
ETFs that hold KO
| ETF | Share of the fund |
|---|---|
| IYK iShares US Consumer Staples | 12.99% |
| VDC Vanguard Consumer Staples | 8.69% |
| FSTA Fidelity MSCI Consumer Staples Index | 8.48% |
| XLP Consumer Staples Select Sector SPDR | 6.85% |
| OMAH VistaShares Target 15 Berkshire Select... | 4.67% |
| HDV iShares Core High Dividend | 4.09% |
| SCHD Schwab U.S. Dividend Equity | 3.96% |
| GQGU The Advisors’ Inner Circle Fund III | 3.57% |
The eight funds with the largest weight in KO among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
KO stock splits
KO has split its stock 4 times since 1990. The latest was a 2-for-1 split on 13 Aug 2012.
Full KO stock split history →KO SEC filings
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Shareholder vote results
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
DEF 14ASEC EDGAR
Proxy statement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.