Financials The Coca-Cola Company

Equities

KO

US1912161007

Non-Alcoholic Beverages

Market Closed - Nyse Other stock markets 04:00:02 2025-01-23 pm EST			After market 07:58:01 pm
61.53 ^USD	-0.40%		61.48	-0.09%

Jan. 07	Piper Sandler Starts Coca-Cola With Overweight Rating, $74 Price Target	MT
Jan. 07	Wells Fargo Adjusts Price Target on Coca-Cola to $70 From $75, Maintains Overweight Rating	MT

Projected Income Statement: The Coca-Cola Company

income-statement-evolution-chart THE-COCA-COLA-COMPANY

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	37,280	32,999	38,658	43,046	45,784	46,197	47,607	49,992
Change	-	-11.48%	17.15%	11.35%	6.36%	0.9%	3.05%	5.01%
EBITDA ¹	11,774	11,306	12,561	13,605	14,464	15,114	16,025	17,197
Change	-	-3.97%	11.1%	8.31%	6.31%	4.49%	6.03%	7.31%
EBIT ¹	10,409	9,770	11,109	12,345	13,336	13,937	14,610	15,651
Change	-	-6.14%	13.71%	11.13%	8.03%	4.51%	4.83%	7.13%
Interest Paid ¹	-946	-1,437	-776	-906	-1,552	-1,714	-1,868	-1,816
Earnings before Tax (EBT) ¹	10,786	9,749	12,425	11,686	12,952	13,783	15,215	16,322
Change	-	-9.61%	27.45%	-5.95%	10.83%	6.41%	10.39%	7.28%
Net income ¹	8,920	7,747	9,771	9,542	10,714	11,359	12,449	13,217
Change	-	-13.15%	26.13%	-2.34%	12.28%	6.02%	9.59%	6.17%
Announcement Date	1/30/20	2/10/21	2/10/22	2/14/23	2/13/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	9,085	8,573	7,150	8,648	8,603	9,019	10,125	10,044	9,470	10,502	11,302	11,100	10,195	10,959	11,966	11,911	10,948	11,231	12,313	11,949	10,709	11,298	12,607	12,313	11,024	12,091	13,172	12,913
Change	-	-5.64%	-16.6%	20.95%	-0.52%	4.84%	12.26%	-0.8%	-5.71%	10.9%	7.62%	-1.79%	-8.15%	7.49%	9.19%	-0.46%	-8.08%	2.58%	9.63%	-2.96%	-10.38%	5.5%	11.59%	-2.34%	-10.47%	9.68%	8.95%	-1.97%
EBITDA ¹	2,656	3,001	2,535	2,987	2,783	3,160	3,592	3,376	2,433	3,626	3,787	3,565	2,627	3,774	4,061	3,826	2,803	3,905	4,306	3,939	2,944	4,041	4,560	4,243	3,087	4,396	4,867	4,516
Change	-	12.99%	-15.53%	17.83%	-6.83%	13.55%	13.67%	-6.01%	-27.93%	49.03%	4.44%	-5.86%	-26.31%	43.66%	7.6%	-5.79%	-26.74%	39.32%	10.27%	-8.52%	-25.27%	37.27%	12.85%	-6.96%	-27.24%	42.39%	10.73%	-7.21%
EBIT ¹	2,256	2,634	2,154	2,629	2,353	2,794	3,209	3,014	2,092	3,302	3,465	3,258	2,320	3,488	3,780	3,536	2,532	3,643	4,037	3,671	2,564	3,688	4,173	3,848	2,708	3,983	4,444	4,104
Change	-	16.76%	-18.22%	22.05%	-10.5%	18.74%	14.85%	-6.08%	-30.59%	57.84%	4.94%	-5.97%	-28.79%	50.34%	8.37%	-6.46%	-28.39%	43.88%	10.82%	-9.07%	-30.15%	43.85%	13.15%	-7.79%	-29.63%	47.08%	11.58%	-7.66%
Charge d'intérêts ¹	-235	-193	-274	-255	-310	-195	-194	-216	-171	-188	-198	-198	-310	-372	-374	-368	-413	-382	-424	-425	-475.6	-463.5	-450.6	-447.7	-449.8	-383.7	-382.9	-382
Earnings before Tax (EBT) ¹	2,420	-	2,197	2,181	2,361	2,763	3,618	3,084	2,960	3,458	2,284	3,444	2,500	4,053	2,880	3,537	2,482	3,872	3,028	3,380	2,759	3,903	4,495	4,195	2,952	4,192	4,799	4,501
Change	-	-100%	-	-0.73%	8.25%	17.03%	30.94%	-14.76%	-4.02%	16.82%	-33.95%	50.79%	-27.41%	62.12%	-28.94%	22.81%	-29.83%	56%	-21.8%	11.62%	-18.36%	41.43%	15.18%	-6.66%	-29.64%	42.01%	14.48%	-6.21%
Net income ¹	2,042	2,775	1,779	1,737	1,456	2,245	2,641	2,471	2,414	2,781	1,905	2,825	2,031	3,107	2,547	3,087	1,973	3,177	2,411	2,848	2,219	3,127	3,676	3,446	2,323	-	-	-
Change	-	35.9%	-35.89%	-2.36%	-16.18%	54.19%	17.64%	-6.44%	-2.31%	15.2%	-31.5%	48.29%	-28.11%	52.98%	-18.02%	21.2%	-36.09%	61.02%	-24.11%	18.13%	-22.09%	40.93%	17.54%	-6.25%	-32.6%	-100%	-	-
Announcement Date	1/30/20	4/21/20	7/21/20	10/22/20	2/10/21	4/19/21	7/21/21	10/27/21	2/10/22	4/25/22	7/26/22	10/25/22	2/14/23	4/24/23	7/26/23	10/24/23	2/13/24	4/30/24	7/23/24	10/23/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: The Coca-Cola Company

balance-sheet-analysis-chart THE-COCA-COLA-COMPANY

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	31,588	31,879	30,136	27,518	28,401	28,360	30,571	27,810
Change	-	0.92%	-5.47%	-8.69%	3.21%	-0.14%	7.8%	-9.03%
Announcement Date	1/30/20	2/10/21	2/10/22	2/14/23	2/13/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: The Coca-Cola Company

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	2,054	1,177	1,367	1,484	1,852	2,156	2,141	2,177
Change	-	-42.7%	16.14%	8.56%	24.8%	16.41%	-0.68%	1.68%
Free Cash Flow (FCF) ¹	8,417	8,667	11,258	9,534	9,747	7,643	7,455	12,329
Change	-	2.97%	29.9%	-15.31%	2.23%	-21.58%	-2.47%	65.39%
Announcement Date	1/30/20	2/10/21	2/10/22	2/14/23	2/13/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: The Coca-Cola Company

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	31.58%	34.26%	32.49%	31.61%	31.59%	32.72%	33.66%	34.4%
EBIT Margin (%)	27.92%	29.61%	28.74%	28.68%	29.13%	30.17%	30.69%	31.31%
EBT Margin (%)	28.93%	29.54%	32.14%	27.15%	28.29%	29.83%	31.96%	32.65%
Net margin (%)	23.93%	23.48%	25.28%	22.17%	23.4%	24.59%	26.15%	26.44%
FCF margin (%)	22.58%	26.26%	29.12%	22.15%	21.29%	16.55%	15.66%	24.66%
FCF / Net Income (%)	94.36%	111.88%	115.22%	99.92%	90.97%	67.29%	59.88%	93.28%
Profitability
ROA	10.52%	8.92%	10.76%	11.55%	12.2%	12.2%	12.5%	13.01%
ROE	49.61%	40.48%	47.69%	40.51%	46.6%	46.72%	47.81%	48.77%
Financial Health
Leverage (Debt/EBITDA)	2.68x	2.82x	2.4x	2.02x	1.96x	1.88x	1.91x	1.62x
Debt / Free cash flow	3.75x	3.68x	2.68x	2.89x	2.91x	3.71x	4.1x	2.26x
Capital Intensity
CAPEX / Current Assets (%)	5.51%	3.57%	3.54%	3.45%	4.05%	4.67%	4.5%	4.36%
CAPEX / EBITDA (%)	17.45%	10.41%	10.88%	10.91%	12.8%	14.26%	13.36%	12.66%
CAPEX / FCF (%)	24.4%	13.58%	12.14%	15.57%	19%	28.21%	28.72%	17.66%
Items per share
Cash flow per share ¹	2.427	2.277	2.909	2.533	2.673	2.175	2.988	3.596
Change	-	-6.18%	27.75%	-12.93%	5.54%	-18.62%	37.34%	20.37%
Dividend per Share ¹	1.6	1.64	1.68	1.76	1.84	1.938	2.025	2.129
Change	-	2.5%	2.44%	4.76%	4.55%	5.33%	4.47%	5.14%
Book Value Per Share ¹	4.435	4.486	5.299	5.57	5.979	5.971	6.413	6.687
Change	-	1.16%	18.13%	5.1%	7.35%	-0.12%	7.41%	4.27%
EPS ¹	2.07	1.79	2.25	2.19	2.47	2.554	2.886	3.09
Change	-	-13.53%	25.7%	-2.67%	12.79%	3.42%	12.97%	7.09%
Nbr of stocks (in thousands)	4,284,491	4,297,435	4,319,420	4,324,513	4,323,414	4,307,797	4,307,797	4,307,797
Announcement Date	1/30/20	2/10/21	2/10/22	2/14/23	2/13/24	-	-	-