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.
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- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Capital Asset Pricing Model (CAPM)
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Coca-Cola Co., consolidated income statement
US$ in millions
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.