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$78.41
Market Capi
$337B
Growth-adj P/E (3-yr hist)i
2.1x
Growth-adj P/E (3-yr proj)i
3.8x
P/S 26Ei
6.9x
P/S 28Ei
6.5x
EV/EBIT 26Ei
23x
EV/EBIT 28Ei
20x
P/E 26Ei
24x
P/E 28Ei
21x
P/S 26Ei
6.9x
EV/EBIT 26Ei
23x
P/E 26Ei
24x
P/S 28Ei
6.5x
EV/EBIT 28Ei
20x
P/E 28Ei
21x
Revenue
2026E
49B
Gross Margini
62%
Hist. CAGRi
3.7%
Proj. CAGRi
3.0%
EBIT
2026E
16B
Op. Margini
31%
Hist. CAGRi
7.0%
Proj. CAGRi
6.3%
Net profit
2026E
14B
Net Margini
27%
Hist. CAGRi
11%
Proj. CAGRi
5.6%
Consensus Target
$86.06+10%
23 analysts covering
Net debti
$32B
Div. Yieldi
n/a
Buyback Yldi
0.1%
Coca-Cola is the world's largest non-alcoholic beverage company, operating through a franchise model in which it sells concentrates and syrups to a global network of independent bottling partners, who manufacture, package, and distribute the finished beverages. The company also operates owned bottling entities in select markets. Revenue splits roughly as follows:
The portfolio spans sparkling soft drinks (Coca-Cola, Sprite, Fanta, Schweppes), water and sports drinks (Dasani, Powerade, BODYARMOR, Topo Chico), coffee and tea (Costa, Georgia, Gold Peak), and juices and dairy (Minute Maid, Simply, fairlife, innocent).
Coca-Cola sells primarily to consumers through retail channels — grocery, convenience, foodservice, and vending — with bottling partners and restaurant chains as the direct commercial relationship. Geographic mix is broad: 61% of net sales come from outside the United States, with material exposure to Latin America, Europe, Asia-Pacific, and Africa. The non-alcoholic ready-to-drink market is large, relatively stable, and dominated by a duopoly with PepsiCo. Consumer brand loyalty is high, retail shelf presence is deeply entrenched, and pricing power has historically been resilient across economic cycles.
Coca-Cola's moat rests on three reinforcing pillars. Brand recognition built over 140 years creates consumer preference that is extraordinarily difficult and expensive to replicate — the Coca-Cola trademark alone is consistently ranked among the most valuable in the world. The franchise bottling system locks in distribution at global scale without requiring Coca-Cola to own the capital-intensive manufacturing infrastructure, generating high-margin concentrate revenue while partners absorb volume risk. Finally, retail shelf dominance and cooler placement — secured through decades of trade relationships — create a structural barrier to entry that limits new beverage brands' ability to reach meaningful scale.
Braun became CEO on March 30, 2026, succeeding James Quincey who moved to Executive Chairman. A Coca-Cola lifer, Braun spent over two decades rising through operating unit leadership roles across Latin America and global categories before being named President of the International business in 2021. His elevation signals continuity rather than a strategic reset — he was the internal candidate groomed for the role.
Quincey served as CEO from 2017 through early 2026, overseeing the transformation of Coca-Cola's portfolio away from low-growth carbonated volumes toward a total beverage company model — including acquisitions of Costa Coffee and fairlife. His move to Chairman maintains his influence over capital allocation and strategic direction during the leadership transition.
Murphy has served as CFO since March 2019 and was elevated to the combined President and CFO role, reflecting his centrality to the company's financial strategy. He has been the primary architect of the disciplined operating leverage and dividend sustainability narrative that underpins Coca-Cola's positioning as a defensive income compounder.
Other key figures
Manuel Arroyo (EVP, Chief Marketing and Customer Commercial Officer) leads global brand and commercial strategy. Nancy Quan and Neeraj Tolmare share technology and R&D leadership. Jennifer Mann heads the North America Operating Unit, the company's largest domestic segment.
P/S Ratio
EV/EBIT
P/E Ratio
Revenue
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
EBIT
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Net profit
CAGR (hist. 3-yr)i
0%
CAGR (proj. 3-yr)i
0%
Values in millions of USD.
Operating cashflow · Levered Free Cash Flow
Free Cash Flow
CAPEX
Values in millions of USD.
Margins
Rentability
Balance sheet
Values in millions of USD.
Liquidity ratios
Debt-to-Equity-Ratio
Q1 2026 revenue came in above consensus, with the company reporting $12.47 billion against a $12.24 billion estimate — a beat driven by volume growth across both sparkling and still categories.
EPS of $0.86 cleared the $0.81 consensus, with net income up meaningfully year over year. Management cited pricing discipline and operating leverage as the primary contributors to the bottom-line outperformance.
Coca-Cola Zero Sugar stood out as the growth engine, posting a 13% volume jump in Q1 while the broader sparkling soft drinks segment grew volumes 2%. The company maintained its value share for the 20th consecutive quarter.
Full-year EPS growth guidance was raised to 8%–9% from the prior 7%–8%, while the organic revenue growth outlook of 4%–5% was reaffirmed. The guidance lift drove a positive market reaction on April 28, 2026.
On June 1, 2026, Coca-Cola announced it is exploring a potential public listing in India for Hindustan Coca-Cola Holdings, the parent company of its largest Indian bottler. A listing on BSE and NSE is being targeted for 2027, with the company indicating it intends to retain a significant majority stake following any offering.
The India move follows the 2025 entry of the Jubilant Bhartia Group, which acquired a 40% stake in Hindustan Coca-Cola Holdings, shifting strategic decision-making toward a more locally agile structure — consistent with Coca-Cola's broader franchise model across emerging markets.
On April 6, 2026, the company launched a nationwide campaign marking America's 250th anniversary, tying its brand to patriotic themes and community initiatives — a high-visibility domestic marketing activation ahead of the summer selling season.
Bulls point to the consistent volume growth and pricing power as evidence that the brand portfolio is holding up well despite consumer pressure in some markets. The Zero Sugar volume surge is seen as a structural tailwind as health-conscious preferences shift the category mix.
Bears focus on the elevated PEG ratio, which suggests the market is pricing in growth that the underlying fundamentals have historically struggled to sustain at scale. Critics also note that levered free cash flow turned negative in 2025, raising questions about capital allocation efficiency.
The India listing is a swing factor: bulls see it as an efficient way to unlock value and deepen local partnerships in a high-growth market; bears worry it introduces execution risk and governance complexity in an emerging-market structure that Coca-Cola does not fully control.
Consensusi
Buy
Average targeti
$86.06+10%
Highest targeti
$92.00+17%
Lowest targeti
$71.38-9%