Price to Earnings (P/E)
since 2005
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Coca-Cola Co. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
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Calculation
Coca-Cola Co., P/E, long-term trends, calculation
| P/E | = | Share price1, 2, 3 | ÷ | Earnings per share1 (EPS) | EPS1 | = | Net income attributable to shareowners of The Coca-Cola Company1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Feb 20, 2026 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2025 | = | ÷ | = | ÷ | |||||||
| Feb 20, 2024 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2023 | = | ÷ | = | ÷ | |||||||
| Feb 22, 2022 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 27, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 21, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2006 | = | ÷ | = | ÷ |
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$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Coca-Cola Co. Annual Report.
The price-to-earnings (P/E) ratio exhibited considerable fluctuation between 2006 and 2026. Initially, the ratio demonstrated a gradual increase from 20.40 in 2006 to a peak of 23.10 in 2008. A subsequent decline was observed in 2009, falling to 16.37, likely influenced by broader economic conditions. The period between 2010 and 2013 showed relative stability, with the P/E ratio fluctuating between 12.42 and 19.00. A notable surge occurred in 2015 and 2016, reaching 26.01, before experiencing a dramatic increase to 150.54 in 2017. Following this outlier, the ratio decreased significantly to 30.47 in 2019, and then stabilized in the range of 24.43 to 28.34 between 2019 and 2024. A slight increase to 26.20 was observed in 2026.
- Overall Trend
- The P/E ratio did not demonstrate a consistent long-term trend. While there were periods of increase and decrease, the ratio largely fluctuated within a range, with a significant outlier in 2017. The latter half of the observed period (2019-2026) showed a more stable pattern.
- Volatility
- The P/E ratio exhibited substantial volatility, particularly in 2017. This suggests a significant shift in investor sentiment or a temporary distortion in earnings. The standard deviation of the P/E ratio across the period is relatively high, indicating considerable risk or uncertainty associated with the company’s valuation.
- Relationship to Earnings Per Share (EPS)
- The P/E ratio’s fluctuations are partially explained by changes in Earnings Per Share (EPS). The spike in the P/E ratio in 2017 coincided with a substantial decrease in EPS, indicating that investors were willing to pay a much higher price for each dollar of earnings. Conversely, periods of increasing EPS generally corresponded with decreasing or stable P/E ratios.
- Recent Performance (2020-2026)
- From 2020 to 2026, the P/E ratio remained relatively stable, fluctuating between 24.43 and 28.34. This suggests a period of more predictable earnings and investor expectations. The slight increase in 2026 may indicate renewed investor confidence or anticipated future growth.
Comparison to Competitors
Coca-Cola Co., P/E, long-term trends, comparison to competitors
| Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|
| Feb 20, 2026 | ||||
| Feb 20, 2025 | ||||
| Feb 20, 2024 | ||||
| Feb 21, 2023 | ||||
| Feb 22, 2022 | ||||
| Feb 25, 2021 | ||||
| Feb 24, 2020 | ||||
| Feb 21, 2019 | ||||
| Feb 23, 2018 | ||||
| Feb 24, 2017 | ||||
| Feb 25, 2016 | ||||
| Feb 25, 2015 | ||||
| Feb 27, 2014 | ||||
| Feb 27, 2013 | ||||
| Feb 23, 2012 | ||||
| Feb 28, 2011 | ||||
| Feb 26, 2010 | ||||
| Feb 26, 2009 | ||||
| Feb 28, 2008 | ||||
| Feb 21, 2007 | ||||
| Feb 28, 2006 |
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).
Comparison to Sector (Food, Beverage & Tobacco)
Coca-Cola Co., P/E, long-term trends, comparison to sector (food, beverage & tobacco)
| Coca-Cola Co. | Food, Beverage & Tobacco | |
|---|---|---|
| Feb 20, 2026 | ||
| Feb 20, 2025 | ||
| Feb 20, 2024 | ||
| Feb 21, 2023 | ||
| Feb 22, 2022 | ||
| Feb 25, 2021 | ||
| Feb 24, 2020 | ||
| Feb 21, 2019 | ||
| Feb 23, 2018 | ||
| Feb 24, 2017 | ||
| Feb 25, 2016 | ||
| Feb 25, 2015 | ||
| Feb 27, 2014 | ||
| Feb 27, 2013 | ||
| Feb 23, 2012 | ||
| Feb 28, 2011 | ||
| Feb 26, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 21, 2007 | ||
| Feb 28, 2006 |
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).
Comparison to Industry (Consumer Staples)
Coca-Cola Co., P/E, long-term trends, comparison to industry (consumer staples)
| Coca-Cola Co. | Consumer Staples | |
|---|---|---|
| Feb 20, 2026 | ||
| Feb 20, 2025 | ||
| Feb 20, 2024 | ||
| Feb 21, 2023 | ||
| Feb 22, 2022 | ||
| Feb 25, 2021 | ||
| Feb 24, 2020 | ||
| Feb 21, 2019 | ||
| Feb 23, 2018 | ||
| Feb 24, 2017 | ||
| Feb 25, 2016 | ||
| Feb 25, 2015 | ||
| Feb 27, 2014 | ||
| Feb 27, 2013 | ||
| Feb 23, 2012 | ||
| Feb 28, 2011 | ||
| Feb 26, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 21, 2007 | ||
| Feb 28, 2006 |
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).