Analysis of Liquidity Ratios
Quarterly Data
Liquidity ratios measure the company ability to meet its short-term obligations.
Liquidity Ratios (Summary)
Coca-Cola Co., liquidity ratios (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Coca-Cola Co. current ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Coca-Cola Co. quick ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Coca-Cola Co. cash ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Current Ratio
Coca-Cola Co., current ratio calculation (quarterly data)
| Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Sep 25, 2020 | Jun 26, 2020 | Mar 27, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Current assets | 26,732) | 27,867) | 27,591) | 26,880) | 22,591) | 24,139) | 23,141) | 22,156) | 22,545) | 24,240) | 22,481) | 21,932) | 19,240) | 30,410) | 29,371) | 28,234) | 20,411) | 23,117) | 24,360) | 28,540) | ||||||
| Current liabilities | 23,571) | 24,409) | 24,115) | 23,357) | 19,724) | 21,439) | 20,531) | 18,787) | 19,950) | 15,990) | 15,299) | 16,486) | 14,601) | 26,891) | 26,848) | 32,397) | 26,973) | 25,100) | 29,382) | 27,943) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Current ratio1 | 1.13 | 1.14 | 1.14 | 1.15 | 1.15 | 1.13 | 1.13 | 1.18 | 1.13 | 1.52 | 1.47 | 1.33 | 1.32 | 1.13 | 1.09 | 0.87 | 0.76 | 0.92 | 0.83 | 1.02 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Current Ratio, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 0.49 | 0.33 | 0.37 | 0.78 | 0.84 | 0.50 | 0.49 | 0.62 | 0.71 | 0.74 | 0.72 | 0.80 | 0.79 | 0.77 | 0.75 | 0.71 | 0.59 | 0.56 | 0.56 | 0.62 | ||||||
| Mondelēz International Inc. | 0.62 | 0.61 | 0.65 | 0.68 | 0.60 | 0.69 | 0.68 | 0.68 | 0.74 | 0.73 | 0.61 | 0.61 | 0.66 | 0.74 | 0.55 | 0.53 | 0.50 | 0.50 | 0.44 | 0.48 | ||||||
| PepsiCo Inc. | 0.85 | 0.88 | 0.84 | 0.87 | 0.80 | 0.92 | 0.83 | 0.87 | 0.83 | 0.95 | 0.91 | 0.93 | 0.98 | 0.93 | 0.97 | 1.10 | 0.86 | 0.95 | 0.86 | 0.94 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Current ratio = Current assets ÷ Current liabilities
= 26,732 ÷ 23,571 = 1.13
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Current ratio | A liquidity ratio calculated as current assets divided by current liabilities. | Coca-Cola Co. current ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Quick Ratio
Coca-Cola Co., quick ratio calculation (quarterly data)
| Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Sep 25, 2020 | Jun 26, 2020 | Mar 27, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 9,366) | 11,883) | 12,564) | 12,004) | 9,519) | 10,127) | 8,976) | 7,681) | 9,684) | 11,301) | 9,188) | 8,484) | 6,795) | 11,385) | 10,037) | 13,561) | 6,480) | 7,531) | 6,731) | 5,645) | ||||||
| Short-term investments | 2,997) | 2,332) | 1,867) | 1,166) | 1,043) | 1,120) | 776) | 736) | 1,242) | 1,844) | 2,079) | 1,871) | 1,771) | 7,347) | 7,551) | 1,713) | 1,467) | 2,001) | 2,572) | 1,538) | ||||||
| Marketable securities | 1,300) | 1,220) | 1,263) | 1,125) | 1,069) | 1,973) | 1,867) | 1,939) | 1,699) | 1,724) | 1,775) | 2,234) | 2,348) | 2,396) | 2,228) | 2,392) | 3,228) | 3,456) | 4,058) | 4,765) | ||||||
| Trade accounts receivable, less allowances | 3,410) | 3,495) | 3,970) | 4,599) | 3,487) | 3,994) | 4,494) | 4,641) | 3,512) | 3,889) | 4,036) | 3,762) | 3,144) | 3,827) | 3,849) | 4,430) | 3,971) | 4,353) | 4,888) | 3,852) | ||||||
| Total quick assets | 17,073) | 18,930) | 19,664) | 18,894) | 15,118) | 17,214) | 16,113) | 14,997) | 16,137) | 18,758) | 17,078) | 16,351) | 14,058) | 24,955) | 23,665) | 22,096) | 15,146) | 17,341) | 18,249) | 15,800) | ||||||
| Current liabilities | 23,571) | 24,409) | 24,115) | 23,357) | 19,724) | 21,439) | 20,531) | 18,787) | 19,950) | 15,990) | 15,299) | 16,486) | 14,601) | 26,891) | 26,848) | 32,397) | 26,973) | 25,100) | 29,382) | 27,943) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Quick ratio1 | 0.72 | 0.78 | 0.82 | 0.81 | 0.77 | 0.80 | 0.78 | 0.80 | 0.81 | 1.17 | 1.12 | 0.99 | 0.96 | 0.93 | 0.88 | 0.68 | 0.56 | 0.69 | 0.62 | 0.57 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Quick Ratio, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 0.33 | 0.15 | 0.23 | 0.63 | 0.67 | 0.31 | 0.31 | 0.49 | 0.54 | 0.37 | 0.35 | 0.59 | 0.56 | 0.52 | 0.53 | 0.52 | 0.28 | 0.23 | 0.25 | 0.35 | ||||||
| Mondelēz International Inc. | 0.29 | 0.27 | 0.25 | 0.29 | 0.30 | 0.35 | 0.32 | 0.35 | 0.42 | 0.43 | 0.30 | 0.32 | 0.39 | 0.41 | 0.25 | 0.27 | 0.23 | 0.24 | 0.19 | 0.24 | ||||||
| PepsiCo Inc. | 0.66 | 0.68 | 0.60 | 0.61 | 0.58 | 0.68 | 0.59 | 0.63 | 0.56 | 0.65 | 0.66 | 0.68 | 0.77 | 0.73 | 0.75 | 0.89 | 0.66 | 0.73 | 0.61 | 0.69 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 17,073 ÷ 23,571 = 0.72
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Quick ratio | A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. | Coca-Cola Co. quick ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Cash Ratio
Coca-Cola Co., cash ratio calculation (quarterly data)
| Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Sep 25, 2020 | Jun 26, 2020 | Mar 27, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Cash and cash equivalents | 9,366) | 11,883) | 12,564) | 12,004) | 9,519) | 10,127) | 8,976) | 7,681) | 9,684) | 11,301) | 9,188) | 8,484) | 6,795) | 11,385) | 10,037) | 13,561) | 6,480) | 7,531) | 6,731) | 5,645) | ||||||
| Short-term investments | 2,997) | 2,332) | 1,867) | 1,166) | 1,043) | 1,120) | 776) | 736) | 1,242) | 1,844) | 2,079) | 1,871) | 1,771) | 7,347) | 7,551) | 1,713) | 1,467) | 2,001) | 2,572) | 1,538) | ||||||
| Marketable securities | 1,300) | 1,220) | 1,263) | 1,125) | 1,069) | 1,973) | 1,867) | 1,939) | 1,699) | 1,724) | 1,775) | 2,234) | 2,348) | 2,396) | 2,228) | 2,392) | 3,228) | 3,456) | 4,058) | 4,765) | ||||||
| Total cash assets | 13,663) | 15,435) | 15,694) | 14,295) | 11,631) | 13,220) | 11,619) | 10,356) | 12,625) | 14,869) | 13,042) | 12,589) | 10,914) | 21,128) | 19,816) | 17,666) | 11,175) | 12,988) | 13,361) | 11,948) | ||||||
| Current liabilities | 23,571) | 24,409) | 24,115) | 23,357) | 19,724) | 21,439) | 20,531) | 18,787) | 19,950) | 15,990) | 15,299) | 16,486) | 14,601) | 26,891) | 26,848) | 32,397) | 26,973) | 25,100) | 29,382) | 27,943) | ||||||
| Liquidity Ratio | ||||||||||||||||||||||||||
| Cash ratio1 | 0.58 | 0.63 | 0.65 | 0.61 | 0.59 | 0.62 | 0.57 | 0.55 | 0.63 | 0.93 | 0.85 | 0.76 | 0.75 | 0.79 | 0.74 | 0.55 | 0.41 | 0.52 | 0.45 | 0.43 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Cash Ratio, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 0.33 | 0.15 | 0.07 | 0.43 | 0.47 | 0.31 | 0.31 | 0.49 | 0.53 | 0.36 | 0.32 | 0.58 | 0.55 | 0.50 | 0.51 | 0.50 | 0.26 | 0.21 | 0.23 | 0.33 | ||||||
| Mondelēz International Inc. | 0.10 | 0.09 | 0.08 | 0.10 | 0.11 | 0.15 | 0.14 | 0.14 | 0.25 | 0.24 | 0.14 | 0.14 | 0.24 | 0.22 | 0.11 | 0.11 | 0.08 | 0.09 | 0.07 | 0.09 | ||||||
| PepsiCo Inc. | 0.32 | 0.31 | 0.22 | 0.20 | 0.20 | 0.26 | 0.21 | 0.27 | 0.23 | 0.27 | 0.24 | 0.29 | 0.41 | 0.37 | 0.38 | 0.51 | 0.28 | 0.29 | 0.19 | 0.29 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 13,663 ÷ 23,571 = 0.58
2 Click competitor name to see calculations.
| Liquidity ratio | Description | The company |
|---|---|---|
| Cash ratio | A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. | Coca-Cola Co. cash ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |