Stock Analysis on Net
Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

Common-Size Balance Sheet: Assets 

Coca-Cola Co., common-size consolidated balance sheet: assets

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Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents 10.77 9.59 10.26 10.26 7.78
Short-term investments 2.01 3.07 1.12 1.32 2.03
Cash, cash equivalents and short-term investments 12.78% 12.65% 11.39% 11.58% 9.81%
Marketable securities 1.71 1.33 1.15 1.80 2.69
Trade accounts receivable, less allowances 3.55 3.49 3.76 3.72 3.60
Inventories 4.70 4.53 4.56 3.62 3.74
Prepaid expenses and other current assets 3.11 5.36 3.49 3.17 2.19
Current assets 25.86% 27.36% 24.35% 23.89% 22.04%
Equity method investments 17.99 20.13 19.69 18.65 22.08
Deferred income tax assets 1.31 1.60 1.88 2.26 2.82
Property, plant and equipment, net 10.25 9.45 10.61 10.51 12.35
Trademarks with indefinite lives 13.23 14.69 15.32 15.33 11.91
Goodwill 18.04 18.79 20.25 20.52 20.05
Other noncurrent assets 13.33 7.98 7.90 8.83 8.76
Noncurrent assets 74.14% 72.64% 75.65% 76.11% 77.96%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets shows an overall increasing trend, rising from 7.78% in 2020 to 10.77% in 2024, with a slight dip in 2023. This suggests a gradual strengthening of liquidity reserves over the period.
Short-term Investments
Short-term investments as a percentage of total assets exhibit variability. Beginning at 2.03% in 2020, it declined in the following two years, reaching a low of 1.12% in 2022, before recovering somewhat to 3.07% in 2023 and settling at 2.01% in 2024. This fluctuation indicates a dynamic approach to managing short-term investment positions.
Cash, Cash Equivalents and Short-term Investments
The combined total of these liquid assets as a share of total assets increased steadily from 9.81% in 2020 to 12.78% in 2024, peaking in 2024. This reinforces the indication of an emphasis on liquidity and the availability of readily marketable resources over the period.
Marketable Securities
Marketable securities declined from 2.69% in 2020 to 1.15% in 2022, then showed moderate recovery reaching 1.71% in 2024. The trend mirrors the short-term investments pattern, reflecting possible strategic adjustments in portfolio allocations.
Trade Accounts Receivable, Less Allowances
The proportion of trade receivables fluctuated slightly but remained relatively stable, moving from 3.60% in 2020 to 3.55% in 2024. The minor variation suggests consistent credit and collection policies across the years.
Inventories
Inventory levels increased from 3.74% in 2020 to 4.70% in 2024, peaking consistently over recent years. This upward trend may reflect changes in production, demand anticipation, or stock management strategies.
Prepaid Expenses and Other Current Assets
This component rose sharply from 2.19% in 2020 to a peak of 5.36% in 2023, followed by a notable decrease to 3.11% in 2024. The increase may indicate prepayments or accruals rising before declining, which could correspond to altered operational conditions or payment timing.
Current Assets
Current assets as a share of total assets increased from 22.04% in 2020 to a high of 27.36% in 2023, then slightly declined to 25.86% in 2024. This pattern reflects a general increase in liquidity and short-term resource accumulation, with some normalization in the last period.
Equity Method Investments
The share of equity method investments decreased overall from 22.08% in 2020 to 17.99% in 2024, with minor fluctuations in between. This downward trend might indicate divestments or reduced holdings in associated companies or joint ventures.
Deferred Income Tax Assets
This item steadily declined from 2.82% in 2020 to 1.31% in 2024. The consistent decrease suggests a diminishing deferred tax asset base and possibly lower future tax benefit expectations.
Property, Plant and Equipment, Net
The net property, plant, and equipment proportion contracted from 12.35% in 2020 to 10.25% in 2024, with a low point at 9.45% in 2023. This trend may indicate depreciation outpacing capital expenditures or asset disposals over the period.
Trademarks with Indefinite Lives
The share attributable to trademarks with indefinite lives grew from 11.91% in 2020 to a high of 15.33% in 2021, remaining relatively stable before decreasing to 13.23% in 2024. This suggests initial asset revaluations or acquisitions followed by stabilization or partial impairment.
Goodwill
Goodwill showed a slight decline from 20.05% in 2020 to 18.04% in 2024, implying potential impairments or disposals of acquired assets during this period.
Other Noncurrent Assets
This category remained stable around 8.7-8.8% until a notable increase to 13.33% in 2024. The sudden rise indicates a reclassification or acquisition of significant noncurrent assets in the latest period.
Noncurrent Assets
The overall noncurrent assets decreased from 77.96% in 2020 to 74.14% in 2024, with a low in 2023 at 72.64%. Despite the reduction, the company maintains a dominant portion of assets invested in noncurrent holdings.
Total Assets
Total assets are consistently represented as 100%, providing a constant base for the relative values of other components.