Return on Assets (ROA)
since 2005
Calculation
Coca-Cola Co., ROA, long-term trends, calculation
| ROA | = | 100 | × | Net income attributable to shareowners of The Coca-Cola Company1 | ÷ | Total assets1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2025 | 12.50% | = | 100 | × | 13,107) | ÷ | 104,816) |
| Dec 31, 2024 | 10.57% | = | 100 | × | 10,631) | ÷ | 100,549) |
| Dec 31, 2023 | 10.97% | = | 100 | × | 10,714) | ÷ | 97,703) |
| Dec 31, 2022 | 10.29% | = | 100 | × | 9,542) | ÷ | 92,763) |
| Dec 31, 2021 | 10.36% | = | 100 | × | 9,771) | ÷ | 94,354) |
| Dec 31, 2020 | 8.87% | = | 100 | × | 7,747) | ÷ | 87,296) |
| Dec 31, 2019 | 10.33% | = | 100 | × | 8,920) | ÷ | 86,381) |
| Dec 31, 2018 | 7.73% | = | 100 | × | 6,434) | ÷ | 83,216) |
| Dec 31, 2017 | 1.42% | = | 100 | × | 1,248) | ÷ | 87,896) |
| Dec 31, 2016 | 7.48% | = | 100 | × | 6,527) | ÷ | 87,270) |
| Dec 31, 2015 | 8.16% | = | 100 | × | 7,351) | ÷ | 90,093) |
| Dec 31, 2014 | 7.71% | = | 100 | × | 7,098) | ÷ | 92,023) |
| Dec 31, 2013 | 9.53% | = | 100 | × | 8,584) | ÷ | 90,055) |
| Dec 31, 2012 | 10.47% | = | 100 | × | 9,019) | ÷ | 86,174) |
| Dec 31, 2011 | 10.72% | = | 100 | × | 8,572) | ÷ | 79,974) |
| Dec 31, 2010 | 16.19% | = | 100 | × | 11,809) | ÷ | 72,921) |
| Dec 31, 2009 | 14.02% | = | 100 | × | 6,824) | ÷ | 48,671) |
| Dec 31, 2008 | 14.33% | = | 100 | × | 5,807) | ÷ | 40,519) |
| Dec 31, 2007 | 13.82% | = | 100 | × | 5,981) | ÷ | 43,269) |
| Dec 31, 2006 | 16.95% | = | 100 | × | 5,080) | ÷ | 29,963) |
| Dec 31, 2005 | 16.56% | = | 100 | × | 4,872) | ÷ | 29,427) |
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 Return on Assets (ROA) exhibited considerable fluctuation over the period from 2005 to 2025. Initially, the ROA demonstrated a period of relative strength, followed by a period of decline and subsequent recovery, with a final increase in the most recent years.
- Initial Period (2005-2007)
- From 2005 to 2007, the ROA generally decreased from 16.56% to 13.82%. While still representing a strong return, this indicates a diminishing efficiency in utilizing assets to generate profit during this timeframe. This decline occurred alongside a significant increase in total assets.
- Period of Stability and Growth (2008-2010)
- The ROA experienced a period of relative stability between 2008 and 2010, fluctuating between 14.02% and 16.19%. This suggests a stabilization in the efficiency of asset utilization, despite continued growth in total assets. The peak in 2010 coincided with a substantial increase in total assets.
- Decline and Volatility (2011-2017)
- A notable decline in ROA was observed from 2011 through 2017. The ROA decreased from 10.72% in 2011 to a low of 1.42% in 2017. This period was characterized by significant volatility, indicating inconsistent profitability relative to asset levels. Total assets continued to increase, but net income attributable to shareowners experienced substantial fluctuations, particularly the sharp decrease in 2017.
- Recovery and Recent Performance (2018-2025)
- From 2018 onwards, the ROA demonstrated a recovery trend, increasing from 7.73% to 12.50% in 2025. This suggests improved efficiency in asset utilization and a return to stronger profitability. The increase in ROA was accompanied by moderate growth in both net income and total assets. The most recent year, 2025, shows the highest ROA value in the analyzed period.
Overall, the ROA trend indicates a cyclical pattern. The company experienced a period of strong returns, followed by a period of decline and volatility, and ultimately a recovery in more recent years. The fluctuations in ROA appear to be influenced by both changes in net income and the scale of total assets.
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Comparison to Competitors
Coca-Cola Co., ROA, long-term trends, comparison to competitors
| Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|
| Dec 31, 2025 | 12.50% | 3.43% | 7.67% | 16.40% |
| Dec 31, 2024 | 10.57% | 6.73% | 9.63% | 11.42% |
| Dec 31, 2023 | 10.97% | 6.95% | 9.03% | 11.96% |
| Dec 31, 2022 | 10.29% | 3.82% | 9.67% | 14.67% |
| Dec 31, 2021 | 10.36% | 6.41% | 8.25% | 22.06% |
| Dec 31, 2020 | 8.87% | 5.24% | 7.66% | 17.98% |
| Dec 31, 2019 | 10.33% | 6.00% | 9.31% | 16.76% |
| Dec 31, 2018 | 7.73% | 5.39% | 16.12% | 19.88% |
| Dec 31, 2017 | 1.42% | 4.63% | 6.09% | 14.05% |
| Dec 31, 2016 | 7.48% | 2.70% | 8.54% | 18.91% |
| Dec 31, 2015 | 8.16% | 11.56% | 7.83% | 20.24% |
| Dec 31, 2014 | 7.71% | 3.27% | 9.24% | 21.29% |
| Dec 31, 2013 | 9.53% | 5.40% | 8.70% | 22.47% |
| Dec 31, 2012 | 10.47% | 4.01% | 8.28% | 23.36% |
| Dec 31, 2011 | 10.72% | 3.76% | 8.84% | 24.21% |
| Dec 31, 2010 | 16.19% | 4.32% | 9.27% | 20.71% |
| Dec 31, 2009 | 14.02% | 4.53% | 14.92% | 18.35% |
| Dec 31, 2008 | 14.33% | 4.60% | 14.29% | 20.90% |
| Dec 31, 2007 | 13.82% | 3.81% | 16.34% | — |
| Dec 31, 2006 | 16.95% | 5.51% | 18.85% | — |
| Dec 31, 2005 | 16.56% | 4.57% | 12.85% | — |
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., ROA, long-term trends, comparison to sector (food, beverage & tobacco)
| Coca-Cola Co. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2025 | 12.50% | 9.96% |
| Dec 31, 2024 | 10.57% | 9.65% |
| Dec 31, 2023 | 10.97% | 9.72% |
| Dec 31, 2022 | 10.29% | 9.51% |
| Dec 31, 2021 | 10.36% | 10.44% |
| Dec 31, 2020 | 8.87% | 9.04% |
| Dec 31, 2019 | 10.33% | 10.02% |
| Dec 31, 2018 | 7.73% | 11.48% |
| Dec 31, 2017 | 1.42% | 5.50% |
| Dec 31, 2016 | 7.48% | 8.27% |
| Dec 31, 2015 | 8.16% | 10.50% |
| Dec 31, 2014 | 7.71% | 8.80% |
| Dec 31, 2013 | 9.53% | 10.00% |
| Dec 31, 2012 | 10.47% | 9.86% |
| Dec 31, 2011 | 10.72% | 9.62% |
| Dec 31, 2010 | 16.19% | 10.87% |
| Dec 31, 2009 | 14.02% | 11.66% |
| Dec 31, 2008 | 14.33% | 12.02% |
| Dec 31, 2007 | 13.82% | 9.75% |
| Dec 31, 2006 | 16.95% | 11.94% |
| Dec 31, 2005 | 16.56% | 9.75% |
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., ROA, long-term trends, comparison to industry (consumer staples)
| Coca-Cola Co. | Consumer Staples | |
|---|---|---|
| Dec 31, 2025 | 12.50% | 9.47% |
| Dec 31, 2024 | 10.57% | 8.89% |
| Dec 31, 2023 | 10.97% | 8.28% |
| Dec 31, 2022 | 10.29% | 8.95% |
| Dec 31, 2021 | 10.36% | 8.75% |
| Dec 31, 2020 | 8.87% | 8.24% |
| Dec 31, 2019 | 10.33% | 6.41% |
| Dec 31, 2018 | 7.73% | 8.40% |
| Dec 31, 2017 | 1.42% | 7.42% |
| Dec 31, 2016 | 7.48% | 7.94% |
| Dec 31, 2015 | 8.16% | 7.69% |
| Dec 31, 2014 | 7.71% | 7.96% |
| Dec 31, 2013 | 9.53% | 8.75% |
| Dec 31, 2012 | 10.47% | 8.63% |
| Dec 31, 2011 | 10.72% | 8.89% |
| Dec 31, 2010 | 16.19% | 9.45% |
| Dec 31, 2009 | 14.02% | 9.43% |
| Dec 31, 2008 | 14.33% | 9.11% |
| Dec 31, 2007 | 13.82% | 8.07% |
| Dec 31, 2006 | 16.95% | 8.42% |
| Dec 31, 2005 | 16.56% | 9.55% |
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).