Income Statement
Quarterly Data
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.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2005
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Coca-Cola Co., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-09-26), 10-Q (reporting date: 2025-06-27), 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).
- Net Operating Revenues
- The net operating revenues demonstrate a generally upward trend with fluctuations. After a dip in the second quarter of 2020, revenues rebounded and increased steadily through 2021 and 2022, peaking in the middle of 2022. In late 2022 and early 2023, revenues showed some volatility but remained high, followed by a series of peaks and troughs through 2024 and into mid-2025, ending at a strong level.
- Cost of Goods Sold
- Cost of goods sold (COGS) increased overall despite some quarter-to-quarter variations. COGS generally rose alongside revenues but with notable spikes in mid-2022 and early 2023, indicating possible cost pressures or higher input prices during those periods. Towards 2025, COGS showed slight moderation but remained elevated relative to early 2020 levels.
- Gross Profit
- Gross profit followed a similar trajectory to revenues, increasing over the periods with some volatility. Gross profit margins likely experienced some compression during quarters of higher COGS spikes but improved significantly during periods when revenue growth outpaced cost increases, especially in 2023 and through 2024. The overall trend reflects healthy profitability at the gross level.
- Selling, General and Administrative Expenses (SG&A)
- SG&A expenses increased consistently over time, reflecting rising operating costs. The increase from 2020 to 2025 appears steady, with some quarter-to-quarter fluctuations indicative of periodic operational activities or investments. The trend suggests a commitment to broad operational or marketing expenses alongside revenue growth.
- Other Operating Charges
- Other operating charges are irregular with significant spikes in certain quarters, notably in mid-2021, early 2023, and early 2024. These charges appear non-recurring and contribute to variability in operating income, suggesting occasional extraordinary costs or impairment-related charges affecting operating results.
- Operating Income
- Operating income exhibits volatility but generally an upward trend over the analyzed periods. Some quarters show sharp declines coinciding with spikes in other operating charges, such as late 2021 and early 2023. However, the later periods, especially from late 2024 through mid-2025, reflect strong operating performance with record highs compared to earlier years.
- Interest Income and Expense
- Interest income shows a gradual increase over time, reflecting improved interest-earning assets or higher interest rates. Interest expense fluctuates but remains relatively stable, without a clear upward or downward trend. The net impact suggests that interest costs are managed effectively relative to interest income.
- Equity Income, Net
- Equity income demonstrates growth over the reporting periods with some fluctuations. Significant increases occur in late 2021, early 2023, and mid-2024, indicating enhanced earnings from equity affiliates or investments during these periods, contributing positively to pre-tax income.
- Other Income (Loss), Net
- Other income (loss) is highly volatile with both positive and negative spikes. Notable gains are observed in late 2021, early 2024, and mid-2023, while losses occur sporadically. This variability indicates that non-operational activities have an inconsistent impact on overall profitability.
- Income Before Income Taxes
- Income before income taxes generally follows the operating income trend but is also influenced by volatility in equity income and other income. The upward movement is observable across the timeline with some quarters showing lower pre-tax income due to extraordinary items or increased costs. The highest levels are seen in late 2024 and mid-2025, consistent with stronger operational and investment income.
- Income Taxes
- Income tax expenses fluctuate in line with pre-tax income but do not show a strictly proportional pattern. There are periods with notably higher tax charges (e.g., early 2021 and late 2024), which may reflect changes in tax rates, tax planning outcomes, or timing differences. Overall, effective tax management appears to be applied, balancing fluctuations in taxable income.
- Consolidated Net Income and Net Income Attributable to Shareowners
- Consolidated net income and net income attributable to shareowners generally increase over time with typical quarterly variability. After a downturn during early pandemic quarters in 2020, net income rebounded strongly through 2021 and 2022 with some intermittent softness. Noteworthy peaks occur in early 2023, late 2024, and mid-2025. The results highlight resilience and growth in net profitability, despite occasional operational and non-operational challenges.
- Noncontrolling Interests
- Net income attributable to noncontrolling interests fluctuates around zero, with small positive or negative values, indicating minimal impact on the company's consolidated net income. The data suggests stable minority interest contributions without material influence on overall profitability.