Stock Analysis on Net
Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

$24.99

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Paying user area

Try for free

Coca-Cola Co. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Coca-Cola Co., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Net operating revenues
Cost of goods sold
Gross profit
Selling, general and administrative expenses
Other operating charges
Operating income
Interest income
Interest expense
Equity income, net
Other income (loss), net
Income before income taxes
Income taxes
Consolidated net income
Net (income) loss attributable to noncontrolling interests
Net income attributable to shareowners of The Coca-Cola Company

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).

Revenue and Cost Trends
The net operating revenues displayed a consistent upward trend, increasing from $33,014 million in 2020 to $47,061 million in 2024. However, the cost of goods sold also rose during this period, moving from $13,433 million in 2020 to $18,324 million in 2024, though there was a slight decrease from 2023 to 2024.
Profitability
Gross profit followed a positive trajectory, increasing steadily from $19,581 million in 2020 to $28,737 million in 2024, reflecting an improvement in revenue exceeding the growth in costs.
Operating Expenses
Selling, general, and administrative expenses grew from $9,731 million in 2020 to $14,582 million in 2024, indicating rising operational costs. Other operating charges demonstrated a notable increase, starting at $853 million in 2020 and surging to $4,163 million by 2024, signifying increased additional costs impacting operating income.
Operating Income
Operating income initially increased from $8,997 million in 2020 to a peak of $11,311 million in 2023 but then declined to $9,992 million in 2024. This decline appears to coincide with the sharp rise in other operating charges.
Interest and Other Income/Expenses
Interest income rose from $370 million in 2020 to $988 million in 2024, doubling over the period. Interest expense fluctuated, with a decrease in 2022 before increasing again in 2023 and 2024, reaching $1,656 million. Equity income, net, showed steady growth, rising from $978 million in 2020 to $1,770 million in 2024. Other income (loss), net was volatile, with a significant spike to $2,000 million in 2021, a negative value in 2022, and recovering to $1,992 million in 2024.
Income before Taxes and Taxes
Income before income taxes increased overall from $9,749 million in 2020 to $13,086 million in 2024, despite some fluctuations. Income taxes rose moderately over the same period from $1,981 million to $2,437 million.
Net Income
Consolidated net income increased from $7,768 million in 2020 to a high of $10,703 million in 2023 before slightly declining to $10,649 million in 2024. Net income attributable to shareowners followed a similar pattern, peaking at $10,714 million in 2023 and slightly decreasing to $10,631 million in 2024.
Noncontrolling Interests
Net income attributable to noncontrolling interests remained relatively small and fluctuated between negative and positive values, indicating minor impact on overall earnings.