Stock Analysis on Net
Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

$24.99

Operating Profit Margin
since 2005

Microsoft Excel

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Calculation

Coca-Cola Co., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating income1 ÷ Net operating revenues1
Dec 31, 2025 = 100 × ÷
Dec 31, 2024 = 100 × ÷
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Dec 31, 2021 = 100 × ÷
Dec 31, 2020 = 100 × ÷
Dec 31, 2019 = 100 × ÷
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Dec 31, 2016 = 100 × ÷
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Dec 31, 2012 = 100 × ÷
Dec 31, 2011 = 100 × ÷
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Dec 31, 2009 = 100 × ÷
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Dec 31, 2006 = 100 × ÷
Dec 31, 2005 = 100 × ÷

Based on: 10-K (reporting date: 2025-12-31), 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 operating profit margin exhibited fluctuations over the period from 2005 to 2025. Initially, the margin remained relatively stable, followed by a period of decline, a subsequent recovery, and then a final period of moderation. A detailed examination reveals specific trends and potential influencing factors.

Initial Stability and Mid-Period Decline (2005-2011)
From 2005 to 2006, the operating profit margin remained consistent, hovering around 26.2%. A slight decrease was observed in 2007 to 25.13%, followed by a recovery in 2008 and 2009, peaking at 26.56%. However, a noticeable downward trend commenced in 2010, continuing through 2011, with the margin declining to 21.82%. This period suggests potential increases in operating costs or pricing pressures impacting profitability.
Fluctuation and Recovery (2012-2018)
The years 2012 through 2015 saw continued fluctuation, with the operating profit margin remaining in the 19.70% to 22.45% range. A significant increase occurred in 2018, reaching 27.31%, indicating a substantial improvement in operational efficiency or revenue management. This recovery suggests successful implementation of cost-control measures or favorable market conditions.
Recent Moderation and Final Increase (2019-2025)
Following the peak in 2018, the operating profit margin experienced a slight moderation in 2019 and 2020, settling around 27.1%. A further decline was observed in 2021 to 26.67% and continued into 2022 at 25.37%, before a substantial increase to 28.71% in 2025. This final increase suggests a recent positive shift in the company’s operational performance.

Overall, the operating profit margin demonstrates a cyclical pattern. While the company experienced periods of decline, it also demonstrated the ability to recover and improve profitability. The most recent data indicates a positive trend, but continued monitoring is recommended to assess the sustainability of this improvement.

Comparison to Competitors

Coca-Cola Co., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
Coca-Cola Co. Mondelēz International Inc. PepsiCo Inc. Philip Morris International Inc.
Dec 31, 2025
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Based on: 10-K (reporting date: 2025-12-31), 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).