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Coca-Cola Co. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Total Asset Turnover since 2005
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Calculation
Current ratio | = | Current assets1 | ÷ | Current liabilities1 | |
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Dec 31, 2024 | = | ÷ | |||
Dec 31, 2023 | = | ÷ | |||
Dec 31, 2022 | = | ÷ | |||
Dec 31, 2021 | = | ÷ | |||
Dec 31, 2020 | = | ÷ | |||
Dec 31, 2019 | = | ÷ | |||
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Dec 31, 2005 | = | ÷ |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
The analysis of the annual financial data reveals several notable trends in liquidity and working capital management over the observed period.
- Current Assets
- The value of current assets shows a general upward trajectory from 2005 through 2017, increasing from 10,250 million US dollars to a peak of 36,545 million US dollars. After this peak, current assets decline sharply in 2018 and 2019 to 30,634 and 20,411 million US dollars respectively, followed by further fluctuations with a slight recovery in subsequent years, reaching 25,997 million US dollars by 2024. This pattern suggests that the company expanded its short-term resources significantly until 2017, after which there were periods of contraction and volatility.
- Current Liabilities
- Current liabilities also exhibit an increasing trend, rising from 9,836 million US dollars in 2005 to a maximum of 32,374 million US dollars in 2014. After 2014, liabilities fluctuate downward and upward, registering a significant decline to 14,601 million US dollars by 2020, before stabilizing around the 20,000 to 25,000 million US dollar range through 2024. The pattern indicates the company’s increasing short-term obligations until mid-period, with subsequent attempts to reduce or manage these liabilities more conservatively.
- Current Ratio
- The current ratio, which is a measure of liquidity and short-term financial health, displays noteworthy variation. Starting slightly above 1 at 1.04 in 2005, it dips below 1 during 2006 to 2008, indicating potential liquidity challenges in those years. In 2009, there is a significant increase to 1.28, followed by a mostly stable period above 1, peaking at 1.34 in 2017. However, a sharp decrease to 0.76 in 2019 signals a deterioration in liquidity, implying that current liabilities exceeded current assets significantly during that year. After 2019, the ratio recovers and remains relatively stable slightly above 1 through 2024, indicating a return to maintaining or exceeding the benchmark of covering short-term obligations with current assets.
In summary, the company experienced steady growth in current assets and liabilities through the mid-2010s, followed by periods of volatility and attempts to recalibrate its liquidity position. The fluctuations in the current ratio reflect episodes of tighter liquidity control interspersed with brief periods of constraint, especially notable in 2019. Stability appears more consistent in the later years, with the current ratio hovering slightly above 1, which is generally regarded as acceptable for short-term financial health.
Comparison to Competitors
Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
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Dec 31, 2011 | ||||
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Dec 31, 2008 | ||||
Dec 31, 2007 | ||||
Dec 31, 2006 | ||||
Dec 31, 2005 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Coca-Cola Co. | Food, Beverage & Tobacco | |
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Dec 31, 2024 | ||
Dec 31, 2023 | ||
Dec 31, 2022 | ||
Dec 31, 2021 | ||
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Dec 31, 2019 | ||
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Dec 31, 2008 | ||
Dec 31, 2007 | ||
Dec 31, 2006 | ||
Dec 31, 2005 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Coca-Cola Co. | Consumer Staples | |
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Dec 31, 2024 | ||
Dec 31, 2023 | ||
Dec 31, 2022 | ||
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Dec 31, 2007 | ||
Dec 31, 2006 | ||
Dec 31, 2005 |
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), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).