Earnings quality
Compare earnings and operating cash flow for earnings quality.
The Coca-Cola Company
Ticker KO · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-02-20 · Period end 2025-12-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 28.7%; equity ratio is 30.7%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin28.7%
Equity ratio30.7%
Last priceUSD 93.49
Trailing P/E30.7×
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
COCA COLA CO is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 404-676-2121 · As of filing date 2026-02-20
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | $47.1B | $47.9B |
| Cost of sales* | $18.3B | $18.4B |
| Gross profit | $28.7B | $29.5B |
| Operating profit | $10.0B | $13.8B |
| Income tax | $2.4B | $2.9B |
| Net income | $10.6B | $13.1B |
| Basic EPS | 2.47 | 3.05 |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash & equivalents | $10.8B | $10.3B |
| Current assets | $26.0B | $31.0B |
| Non-current assets* | $74.6B | $73.8B |
| Total assets | $100.5B | $104.8B |
| Current liabilities | $25.2B | $21.3B |
| Non-current liabilities* | — | — |
| Total liabilities | — | — |
| Stockholders’ equity | $24.9B | $32.2B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Operating cash flow | $6.8B | $7.4B |
| Investing cash flow | $2.5B | -$67.0M |
| Financing cash flow | -$6.9B | -$8.1B |
| Cash at end of period | $10.8B | $10.3B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $38.7B | $43.0B | $45.8B | $47.1B | $47.9B | |
| Operating profit | $10.3B | $10.9B | $11.3B | $10.0B | $13.8B | |
| Net income | $9.8B | $9.5B | $10.7B | $10.6B | $13.1B | |
| Total assets | $94.4B | $92.8B | $97.7B | $100.5B | $104.8B | |
| Cash & equivalents | $9.7B | $9.5B | $9.4B | $10.8B | $10.3B | |
| Stockholders’ equity | $23.0B | $24.1B | $25.9B | $24.9B | $32.2B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $47.1B to $47.9B (▲ +1.9%). Operating profit went from $10.0B to $13.8B (▲ +37.7%).
Operating cash flow was $7.4B (prior $6.8B), with cash on the balance sheet at $10.3B versus $10.8B.
Liquidity & leverage
Cash moved from $10.8B to $10.3B; current liabilities $21.3B.
Capital buffer
Stockholders’ equity moved from $24.9B to $32.2B.
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Source: SEC EDGAR 0001628280-26-010047
(COCA COLA CO), period end 2025-12-31.