Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

$24.99

Total Asset Turnover
since 2005

Microsoft Excel

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Calculation

Coca-Cola Co., total asset turnover, long-term trends, calculation

Microsoft Excel

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


Net Operating Revenues
The net operating revenues demonstrate a general upward trend over the observed periods with fluctuations in some years. From 2005 to 2007, there was a steady increase from 23,104 million USD to 28,857 million USD. This growth accelerated notably in 2011, peaking at 46,542 million USD. After 2011, revenues experienced a decline and some volatility, with a drop to 31,856 million USD in 2018, followed by a rebound to 45,754 million USD in 2023 and a slight increase in 2024 to 47,061 million USD. Overall, revenues more than doubled from 2005 to 2024, indicating significant expansion despite intermittent downturns.
Total Assets
Total assets increased considerably over the period, starting at 29,427 million USD in 2005 and reaching 100,549 million USD by 2024. The asset base saw substantial growth particularly between 2008 and 2011, rising from 40,519 million USD to 79,974 million USD, reflecting likely investments or acquisitions. Post-2011, the asset level continued to rise moderately but showed some periods of relative stabilization, hovering within the range of approximately 83,000 to 97,000 million USD before the notable increase in the last years measured.
Total Asset Turnover
The total asset turnover ratio, which measures the efficiency in using assets to generate revenue, reveals a declining trend throughout the span. Starting at 0.79 in 2005, the ratio dropped consistently to as low as 0.38 in 2018 and 2020, suggesting a reduction in the efficiency of asset utilization during these periods. Recent years show a slight improvement, stabilizing around 0.46 to 0.47 by 2023 and 2024. The decline implies that despite the growth in revenues and assets, the company has been generating proportionally less revenue per unit of asset over time, though the slight recovery at the end points to possible operational improvements or asset optimization.
Summary Insights
The growth in net operating revenues alongside the significant expansion in total assets indicates strategic scaling. However, the concurrent decline in asset turnover ratio points to challenges in maintaining operational efficiency relative to the asset base. This pattern may reflect increased capital intensity or periods of investment that have not immediately translated into proportional revenue growth. The modest recovery in asset turnover in recent years could suggest that the company has begun addressing these efficiency issues. Overall, the data implies a focus on growth and expansion with an ongoing need to optimize asset utilization to maximize returns.

Comparison to Competitors

Coca-Cola Co., total asset turnover, long-term trends, comparison to competitors

Microsoft Excel

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., total asset turnover, long-term trends, comparison to sector (food, beverage & tobacco)

Microsoft Excel

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)