Common-Size Income Statement
Quarterly Data
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Coca-Cola Co., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27).
- Gross Profit and Cost of Goods Sold
- Gross profit as a percentage of net operating revenues showed a fluctuating pattern across the periods, generally ranging between approximately 55% and 63%. Peaks were observed in early 2021 and mid-2024, while dips appeared notably around late 2020, late 2022, and late 2023. Correspondingly, the cost of goods sold (COGS) demonstrated an inverse trend, oscillating between roughly 37% and 45%. COGS reached higher levels in late 2020 and late 2022, corresponding to troughs in gross profit, indicating variability in production or procurement costs relative to revenues.
- Selling, General and Administrative Expenses (SG&A)
- SG&A expenses showed notable variability, generally fluctuating between approximately 27% and 35% of net operating revenues. Increased expense levels occurred prominently in late 2020, late 2021, and late 2023, suggesting periods of higher operational costs or investments. Lower SG&A percentages appeared mostly in mid-year quarters, possibly reflecting seasonal expense management or timing of expenditures.
- Other Operating Charges
- Other operating charges were highly volatile, with values ranging from near zero to double-digit negatives in some quarters (e.g., -13.92% in mid-2024). This volatility suggests the presence of irregular, non-recurring or one-time charges impacting operating expenses significantly during selected periods, which could affect operating income stability.
- Operating Income
- Operating income percentage displayed marked fluctuations between approximately 17% and 33%. Peaks notably occurred in early 2021 and early 2025, aligning with higher gross profit margins and controlled expenses. Conversely, troughs emerged during late 2021 and late 2022, influenced by elevated SG&A and other operating charges. The variability points to sensitivity in profit generation due to changes in cost structure and operating expenses.
- Interest Income and Expense
- Interest income remained modest, generally under 2.5%, with a gradual upward trend seen toward the latter periods. Interest expense showed irregular movement, with peaks around mid-2020 and early 2021 where it reached as much as -7.7%, but stabilized closer to -3% in other periods. Net interest effect fluctuated accordingly, impacting net income through financing costs and returns on investments.
- Equity Income, Net
- Equity income, net, exhibited variability between approximately 1.9% and 4.9%, with periods of increased income primarily in 2020 and from mid-2023 onward. This suggests variations in earnings from equity-method investments, contributing positively to income in multiple quarters.
- Other Income (Loss), Net
- This line item presented high volatility, with some quarters showing significant positive contributions (e.g., +13.39% in early 2024) and others showing losses or near neutral impacts. Such fluctuations indicate effects from non-operating or incidental financial events, which occasionally exert material influence on pre-tax income.
- Income Before Income Taxes and Taxes
- Income before income taxes fluctuated between roughly 20% and 37%. High points correlated with strong operating income periods and positive other income impacts, while lower points aligned with increased charges. Income tax rates also varied, generally between about -2.5% and -10.3%, without a consistent pattern, which suggests fluctuating effective tax rates or tax incentives changing over time.
- Consolidated Net Income and Net Income Attributable to Shareowners
- Net income percentages followed similar fluctuation patterns as pre-tax income, ranging mostly between 16% and 32%. Net income attributable to shareowners closely mirrored consolidated net income, signaling minimal distortion from noncontrolling interests. The occasional dips below 20% and recoveries above 28% reflect periodic impacts of operating and non-operating items on the profitability sustained by shareholders.