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Coca-Cola Co. (NYSE:KO)


Analysis of Liquidity Ratios
Quarterly Data

Beginner level

Liquidity ratios measure the company’s ability to meet its short-term obligations.


Liquidity Ratios (Summary)

Coca-Cola Co., liquidity ratios (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 27, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Current ratio 0.87 0.76 0.92 0.83 1.02 1.05 1.06 1.15 1.21 1.34 1.39 1.35 1.40 1.28 1.37 1.21 1.18 1.24 1.16 1.14 1.23
Quick ratio 0.68 0.56 0.69 0.62 0.57 0.66 0.72 0.76 0.80 0.90 1.12 1.08 1.01 0.98 1.07 0.98 0.85 0.89 0.85 0.90 0.94
Cash ratio 0.55 0.41 0.52 0.45 0.43 0.55 0.60 0.62 0.68 0.76 0.99 0.94 0.88 0.84 0.92 0.81 0.72 0.74 0.72 0.73 0.77

Based on: 10-Q (filing date: 2020-04-24), 10-K (filing date: 2020-02-24), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

Liquidity ratio Description The company
Current ratio A liquidity ratio calculated as current assets divided by current liabilities. Coca-Cola Co.’s current ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 not reaching Q3 2019 level.
Quick ratio A liquidity ratio calculated as (cash plus short-term marketable investments plus receivables) divided by current liabilities. Coca-Cola Co.’s quick ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 not reaching Q3 2019 level.
Cash ratio A liquidity ratio calculated as (cash plus short-term marketable investments) divided by current liabilities. Coca-Cola Co.’s cash ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.

Current Ratio

Coca-Cola Co., current ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 27, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in millions)
Current assets 28,234  20,411  23,117  24,360  28,540  30,634  33,413  36,024  38,042  36,545  38,404  38,961  40,251  34,010  37,956  35,873  36,510  33,395  36,594  32,803  32,119 
Current liabilities 32,397  26,973  25,100  29,382  27,943  29,223  31,430  31,398  31,480  27,194  27,633  28,830  28,656  26,532  27,792  29,544  30,987  26,930  31,545  28,852  26,123 
Liquidity Ratio
Current ratio1 0.87 0.76 0.92 0.83 1.02 1.05 1.06 1.15 1.21 1.34 1.39 1.35 1.40 1.28 1.37 1.21 1.18 1.24 1.16 1.14 1.23
Benchmarks
Current Ratio, Competitors2
PepsiCo Inc. 1.10 0.86 0.95 0.86 0.94 0.99 1.31 1.24 1.28 1.51 1.35 1.32 1.25 1.28 1.32 1.40 1.42 1.31 1.20 1.07 1.04

Based on: 10-Q (filing date: 2020-04-24), 10-K (filing date: 2020-02-24), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

1 Q1 2020 Calculation
Current ratio = Current assets ÷ Current liabilities
= 28,234 ÷ 32,397 = 0.87

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.’s current ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 not reaching Q3 2019 level.

Quick Ratio

Coca-Cola Co., quick ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 27, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in millions)
Cash and cash equivalents 13,561  6,480  7,531  6,731  5,645  8,926  9,065  7,975  8,291  6,006  12,528  11,718  12,120  8,555  11,147  9,647  8,748  7,309  9,983  8,805  8,211 
Short-term investments 1,713  1,467  2,001  2,572  1,538  2,025  4,727  5,843  7,518  9,352  9,691  11,016  9,791  9,595  11,265  11,755  10,003  8,322  9,177  8,709  8,366 
Marketable securities 2,392  3,228  3,456  4,058  4,765  5,013  5,055  5,536  5,564  5,317  5,138  4,490  3,294  4,051  3,157  2,673  3,460  4,269  3,614  3,433  3,472 
Trade accounts receivable, less allowances 4,430  3,971  4,353  4,888  3,852  3,396  3,702  4,565  3,904  3,667  3,664  4,024  3,702  3,856  4,082  4,768  4,147  3,941  4,028  4,976  4,461 
Total quick assets 22,096  15,146  17,341  18,249  15,800  19,360  22,549  23,919  25,277  24,342  31,021  31,248  28,907  26,057  29,651  28,843  26,358  23,841  26,802  25,923  24,510 
 
Current liabilities 32,397  26,973  25,100  29,382  27,943  29,223  31,430  31,398  31,480  27,194  27,633  28,830  28,656  26,532  27,792  29,544  30,987  26,930  31,545  28,852  26,123 
Liquidity Ratio
Quick ratio1 0.68 0.56 0.69 0.62 0.57 0.66 0.72 0.76 0.80 0.90 1.12 1.08 1.01 0.98 1.07 0.98 0.85 0.89 0.85 0.90 0.94
Benchmarks
Quick Ratio, Competitors2
PepsiCo Inc. 0.89 0.66 0.73 0.61 0.69 0.82 1.11 1.06 1.07 1.29 1.17 1.12 1.06 1.08 1.09 1.13 1.12 1.05 0.96 0.81 0.77

Based on: 10-Q (filing date: 2020-04-24), 10-K (filing date: 2020-02-24), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

1 Q1 2020 Calculation
Quick ratio = Total quick assets ÷ Current liabilities
= 22,096 ÷ 32,397 = 0.68

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.’s quick ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 not reaching Q3 2019 level.

Cash Ratio

Coca-Cola Co., cash ratio calculation (quarterly data)

Microsoft Excel LibreOffice Calc
Mar 27, 2020 Dec 31, 2019 Sep 27, 2019 Jun 28, 2019 Mar 29, 2019 Dec 31, 2018 Sep 28, 2018 Jun 29, 2018 Mar 30, 2018 Dec 31, 2017 Sep 29, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jul 1, 2016 Apr 1, 2016 Dec 31, 2015 Oct 2, 2015 Jul 3, 2015 Apr 3, 2015
Selected Financial Data (US$ in millions)
Cash and cash equivalents 13,561  6,480  7,531  6,731  5,645  8,926  9,065  7,975  8,291  6,006  12,528  11,718  12,120  8,555  11,147  9,647  8,748  7,309  9,983  8,805  8,211 
Short-term investments 1,713  1,467  2,001  2,572  1,538  2,025  4,727  5,843  7,518  9,352  9,691  11,016  9,791  9,595  11,265  11,755  10,003  8,322  9,177  8,709  8,366 
Marketable securities 2,392  3,228  3,456  4,058  4,765  5,013  5,055  5,536  5,564  5,317  5,138  4,490  3,294  4,051  3,157  2,673  3,460  4,269  3,614  3,433  3,472 
Total cash assets 17,666  11,175  12,988  13,361  11,948  15,964  18,847  19,354  21,373  20,675  27,357  27,224  25,205  22,201  25,569  24,075  22,211  19,900  22,774  20,947  20,049 
 
Current liabilities 32,397  26,973  25,100  29,382  27,943  29,223  31,430  31,398  31,480  27,194  27,633  28,830  28,656  26,532  27,792  29,544  30,987  26,930  31,545  28,852  26,123 
Liquidity Ratio
Cash ratio1 0.55 0.41 0.52 0.45 0.43 0.55 0.60 0.62 0.68 0.76 0.99 0.94 0.88 0.84 0.92 0.81 0.72 0.74 0.72 0.73 0.77
Benchmarks
Cash Ratio, Competitors2
PepsiCo Inc. 0.51 0.28 0.29 0.19 0.29 0.50 0.71 0.74 0.80 0.95 0.82 0.78 0.74 0.76 0.72 0.72 0.72 0.68 0.56 0.44 0.42

Based on: 10-Q (filing date: 2020-04-24), 10-K (filing date: 2020-02-24), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-21), 10-Q (filing date: 2018-10-30), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-05-01), 10-K (filing date: 2018-02-23), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-24), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-28), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-28), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-30).

1 Q1 2020 Calculation
Cash ratio = Total cash assets ÷ Current liabilities
= 17,666 ÷ 32,397 = 0.55

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.’s cash ratio deteriorated from Q3 2019 to Q4 2019 but then improved from Q4 2019 to Q1 2020 exceeding Q3 2019 level.