Analysis of Solvency Ratios
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Coca-Cola Co., solvency ratios
Based on: 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).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Coca-Cola Co. debt to equity ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Coca-Cola Co. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Coca-Cola Co. debt to capital ratio improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Coca-Cola Co. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Coca-Cola Co. debt to assets ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Coca-Cola Co. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Coca-Cola Co. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Coca-Cola Co. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Coca-Cola Co. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Debt to Equity
Coca-Cola Co., debt to equity calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Loans and notes payable | 4,557) | 2,373) | 3,307) | 2,183) | 10,994) | |
| Current maturities of long-term debt | 1,960) | 399) | 1,338) | 485) | 4,253) | |
| Long-term debt, excluding current maturities | 35,547) | 36,377) | 38,116) | 40,125) | 27,516) | |
| Total debt | 42,064) | 39,149) | 42,761) | 42,793) | 42,763) | |
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 24,105) | 22,999) | 19,299) | 18,981) | |
| Solvency Ratio | ||||||
| Debt to equity1 | 1.62 | 1.62 | 1.86 | 2.22 | 2.25 | |
| Benchmarks | ||||||
| Debt to Equity, Competitors2 | ||||||
| Altria Group Inc. | — | — | — | 10.38 | 4.51 | |
| Mondelēz International Inc. | 0.69 | 0.85 | 0.69 | 0.73 | 0.68 | |
| PepsiCo Inc. | 2.38 | 2.28 | 2.51 | 3.28 | 2.17 | |
| Debt to Equity, Sector | ||||||
| Food, Beverage & Tobacco | 1.90 | 1.99 | 1.99 | 2.16 | 1.80 | |
| Debt to Equity, Industry | ||||||
| Consumer Staples | 1.03 | 0.98 | 1.03 | 1.14 | 1.07 | |
Based on: 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).
1 2023 Calculation
Debt to equity = Total debt ÷ Equity attributable to shareowners of The Coca-Cola Company
= 42,064 ÷ 25,941 = 1.62
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Coca-Cola Co. debt to equity ratio improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Equity (including Operating Lease Liability)
Coca-Cola Co., debt to equity (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Loans and notes payable | 4,557) | 2,373) | 3,307) | 2,183) | 10,994) | |
| Current maturities of long-term debt | 1,960) | 399) | 1,338) | 485) | 4,253) | |
| Long-term debt, excluding current maturities | 35,547) | 36,377) | 38,116) | 40,125) | 27,516) | |
| Total debt | 42,064) | 39,149) | 42,761) | 42,793) | 42,763) | |
| Current portion of operating lease liabilities (included in Accounts payable and accrued expenses) | 361) | 341) | 310) | 322) | 281) | |
| Noncurrent portion of operating lease liabilities (included in Other noncurrent liabilities) | 1,001) | 1,113) | 1,161) | 1,300) | 1,111) | |
| Total debt (including operating lease liability) | 43,426) | 40,603) | 44,232) | 44,415) | 44,155) | |
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 24,105) | 22,999) | 19,299) | 18,981) | |
| Solvency Ratio | ||||||
| Debt to equity (including operating lease liability)1 | 1.67 | 1.68 | 1.92 | 2.30 | 2.33 | |
| Benchmarks | ||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||
| Mondelēz International Inc. | 0.71 | 0.88 | 0.71 | 0.75 | 0.70 | |
| PepsiCo Inc. | 2.54 | 2.42 | 2.64 | 3.41 | 2.27 | |
| Debt to Equity (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 1.98 | 2.06 | 2.05 | 2.22 | 1.86 | |
| Debt to Equity (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 1.14 | 1.10 | 1.14 | 1.28 | 1.09 | |
Based on: 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).
1 2023 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Equity attributable to shareowners of The Coca-Cola Company
= 43,426 ÷ 25,941 = 1.67
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total shareholders’ equity. | Coca-Cola Co. debt to equity ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital
Coca-Cola Co., debt to capital calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Loans and notes payable | 4,557) | 2,373) | 3,307) | 2,183) | 10,994) | |
| Current maturities of long-term debt | 1,960) | 399) | 1,338) | 485) | 4,253) | |
| Long-term debt, excluding current maturities | 35,547) | 36,377) | 38,116) | 40,125) | 27,516) | |
| Total debt | 42,064) | 39,149) | 42,761) | 42,793) | 42,763) | |
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 24,105) | 22,999) | 19,299) | 18,981) | |
| Total capital | 68,005) | 63,254) | 65,760) | 62,092) | 61,744) | |
| Solvency Ratio | ||||||
| Debt to capital1 | 0.62 | 0.62 | 0.65 | 0.69 | 0.69 | |
| Benchmarks | ||||||
| Debt to Capital, Competitors2 | ||||||
| Altria Group Inc. | 1.16 | 1.17 | 1.06 | 0.91 | 0.82 | |
| Mondelēz International Inc. | 0.41 | 0.46 | 0.41 | 0.42 | 0.40 | |
| PepsiCo Inc. | 0.70 | 0.69 | 0.72 | 0.77 | 0.68 | |
| Debt to Capital, Sector | ||||||
| Food, Beverage & Tobacco | 0.66 | 0.67 | 0.67 | 0.68 | 0.64 | |
| Debt to Capital, Industry | ||||||
| Consumer Staples | 0.51 | 0.50 | 0.51 | 0.53 | 0.52 | |
Based on: 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).
1 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 42,064 ÷ 68,005 = 0.62
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Coca-Cola Co. debt to capital ratio improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Capital (including Operating Lease Liability)
Coca-Cola Co., debt to capital (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Loans and notes payable | 4,557) | 2,373) | 3,307) | 2,183) | 10,994) | |
| Current maturities of long-term debt | 1,960) | 399) | 1,338) | 485) | 4,253) | |
| Long-term debt, excluding current maturities | 35,547) | 36,377) | 38,116) | 40,125) | 27,516) | |
| Total debt | 42,064) | 39,149) | 42,761) | 42,793) | 42,763) | |
| Current portion of operating lease liabilities (included in Accounts payable and accrued expenses) | 361) | 341) | 310) | 322) | 281) | |
| Noncurrent portion of operating lease liabilities (included in Other noncurrent liabilities) | 1,001) | 1,113) | 1,161) | 1,300) | 1,111) | |
| Total debt (including operating lease liability) | 43,426) | 40,603) | 44,232) | 44,415) | 44,155) | |
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 24,105) | 22,999) | 19,299) | 18,981) | |
| Total capital (including operating lease liability) | 69,367) | 64,708) | 67,231) | 63,714) | 63,136) | |
| Solvency Ratio | ||||||
| Debt to capital (including operating lease liability)1 | 0.63 | 0.63 | 0.66 | 0.70 | 0.70 | |
| Benchmarks | ||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||
| Mondelēz International Inc. | 0.42 | 0.47 | 0.42 | 0.43 | 0.41 | |
| PepsiCo Inc. | 0.72 | 0.71 | 0.73 | 0.77 | 0.69 | |
| Debt to Capital (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.66 | 0.67 | 0.67 | 0.69 | 0.65 | |
| Debt to Capital (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.53 | 0.52 | 0.53 | 0.56 | 0.52 | |
Based on: 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).
1 2023 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 43,426 ÷ 69,367 = 0.63
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total debt (including operating lease liability) plus shareholders’ equity. | Coca-Cola Co. debt to capital ratio (including operating lease liability) improved from 2021 to 2022 and from 2022 to 2023. |
Debt to Assets
Coca-Cola Co., debt to assets calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Loans and notes payable | 4,557) | 2,373) | 3,307) | 2,183) | 10,994) | |
| Current maturities of long-term debt | 1,960) | 399) | 1,338) | 485) | 4,253) | |
| Long-term debt, excluding current maturities | 35,547) | 36,377) | 38,116) | 40,125) | 27,516) | |
| Total debt | 42,064) | 39,149) | 42,761) | 42,793) | 42,763) | |
| Total assets | 97,703) | 92,763) | 94,354) | 87,296) | 86,381) | |
| Solvency Ratio | ||||||
| Debt to assets1 | 0.43 | 0.42 | 0.45 | 0.49 | 0.50 | |
| Benchmarks | ||||||
| Debt to Assets, Competitors2 | ||||||
| Altria Group Inc. | 0.68 | 0.72 | 0.71 | 0.62 | 0.57 | |
| Mondelēz International Inc. | 0.27 | 0.32 | 0.29 | 0.30 | 0.29 | |
| PepsiCo Inc. | 0.44 | 0.42 | 0.44 | 0.48 | 0.41 | |
| Debt to Assets, Sector | ||||||
| Food, Beverage & Tobacco | 0.43 | 0.44 | 0.45 | 0.46 | 0.44 | |
| Debt to Assets, Industry | ||||||
| Consumer Staples | 0.30 | 0.29 | 0.30 | 0.33 | 0.33 | |
Based on: 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).
1 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 42,064 ÷ 97,703 = 0.43
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Coca-Cola Co. debt to assets ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Debt to Assets (including Operating Lease Liability)
Coca-Cola Co., debt to assets (including operating lease liability) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Loans and notes payable | 4,557) | 2,373) | 3,307) | 2,183) | 10,994) | |
| Current maturities of long-term debt | 1,960) | 399) | 1,338) | 485) | 4,253) | |
| Long-term debt, excluding current maturities | 35,547) | 36,377) | 38,116) | 40,125) | 27,516) | |
| Total debt | 42,064) | 39,149) | 42,761) | 42,793) | 42,763) | |
| Current portion of operating lease liabilities (included in Accounts payable and accrued expenses) | 361) | 341) | 310) | 322) | 281) | |
| Noncurrent portion of operating lease liabilities (included in Other noncurrent liabilities) | 1,001) | 1,113) | 1,161) | 1,300) | 1,111) | |
| Total debt (including operating lease liability) | 43,426) | 40,603) | 44,232) | 44,415) | 44,155) | |
| Total assets | 97,703) | 92,763) | 94,354) | 87,296) | 86,381) | |
| Solvency Ratio | ||||||
| Debt to assets (including operating lease liability)1 | 0.44 | 0.44 | 0.47 | 0.51 | 0.51 | |
| Benchmarks | ||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||
| Mondelēz International Inc. | 0.28 | 0.33 | 0.30 | 0.31 | 0.29 | |
| PepsiCo Inc. | 0.47 | 0.45 | 0.46 | 0.49 | 0.43 | |
| Debt to Assets (including Operating Lease Liability), Sector | ||||||
| Food, Beverage & Tobacco | 0.44 | 0.45 | 0.46 | 0.48 | 0.45 | |
| Debt to Assets (including Operating Lease Liability), Industry | ||||||
| Consumer Staples | 0.33 | 0.32 | 0.33 | 0.36 | 0.33 | |
Based on: 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).
1 2023 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 43,426 ÷ 97,703 = 0.44
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio (including operating lease liability) | A solvency ratio calculated as total debt (including operating lease liability) divided by total assets. | Coca-Cola Co. debt to assets ratio (including operating lease liability) improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Financial Leverage
Coca-Cola Co., financial leverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Total assets | 97,703) | 92,763) | 94,354) | 87,296) | 86,381) | |
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 24,105) | 22,999) | 19,299) | 18,981) | |
| Solvency Ratio | ||||||
| Financial leverage1 | 3.77 | 3.85 | 4.10 | 4.52 | 4.55 | |
| Benchmarks | ||||||
| Financial Leverage, Competitors2 | ||||||
| Altria Group Inc. | — | — | — | 16.70 | 7.92 | |
| Mondelēz International Inc. | 2.52 | 2.65 | 2.37 | 2.46 | 2.37 | |
| PepsiCo Inc. | 5.43 | 5.38 | 5.76 | 6.91 | 5.31 | |
| Financial Leverage, Sector | ||||||
| Food, Beverage & Tobacco | 4.45 | 4.57 | 4.46 | 4.68 | 4.14 | |
| Financial Leverage, Industry | ||||||
| Consumer Staples | 3.47 | 3.40 | 3.45 | 3.50 | 3.28 | |
Based on: 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).
1 2023 Calculation
Financial leverage = Total assets ÷ Equity attributable to shareowners of The Coca-Cola Company
= 97,703 ÷ 25,941 = 3.77
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Coca-Cola Co. financial leverage ratio decreased from 2021 to 2022 and from 2022 to 2023. |
Interest Coverage
Coca-Cola Co., interest coverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to shareowners of The Coca-Cola Company | 10,714) | 9,542) | 9,771) | 7,747) | 8,920) | |
| Add: Net income attributable to noncontrolling interest | (11) | 29) | 33) | 21) | 65) | |
| Add: Income tax expense | 2,249) | 2,115) | 2,621) | 1,981) | 1,801) | |
| Add: Interest expense | 1,527) | 882) | 1,597) | 1,437) | 946) | |
| Earnings before interest and tax (EBIT) | 14,479) | 12,568) | 14,022) | 11,186) | 11,732) | |
| Solvency Ratio | ||||||
| Interest coverage1 | 9.48 | 14.25 | 8.78 | 7.78 | 12.40 | |
| Benchmarks | ||||||
| Interest Coverage, Competitors2 | ||||||
| Altria Group Inc. | 10.51 | 7.55 | 4.22 | 6.63 | 1.58 | |
| Mondelēz International Inc. | 12.83 | 9.39 | 16.08 | 12.33 | 9.03 | |
| PepsiCo Inc. | 8.95 | 10.57 | 5.94 | 8.24 | 9.20 | |
| Interest Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 9.96 | 10.38 | 7.15 | 8.04 | 7.37 | |
| Interest Coverage, Industry | ||||||
| Consumer Staples | 11.88 | 14.21 | 10.01 | 10.46 | 7.90 | |
Based on: 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).
1 2023 Calculation
Interest coverage = EBIT ÷ Interest expense
= 14,479 ÷ 1,527 = 9.48
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Coca-Cola Co. interest coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Fixed Charge Coverage
Coca-Cola Co., fixed charge coverage calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net income attributable to shareowners of The Coca-Cola Company | 10,714) | 9,542) | 9,771) | 7,747) | 8,920) | |
| Add: Net income attributable to noncontrolling interest | (11) | 29) | 33) | 21) | 65) | |
| Add: Income tax expense | 2,249) | 2,115) | 2,621) | 1,981) | 1,801) | |
| Add: Interest expense | 1,527) | 882) | 1,597) | 1,437) | 946) | |
| Earnings before interest and tax (EBIT) | 14,479) | 12,568) | 14,022) | 11,186) | 11,732) | |
| Add: Operating lease costs | 397) | 397) | 342) | 353) | 327) | |
| Earnings before fixed charges and tax | 14,876) | 12,965) | 14,364) | 11,539) | 12,059) | |
| Interest expense | 1,527) | 882) | 1,597) | 1,437) | 946) | |
| Operating lease costs | 397) | 397) | 342) | 353) | 327) | |
| Fixed charges | 1,924) | 1,279) | 1,939) | 1,790) | 1,273) | |
| Solvency Ratio | ||||||
| Fixed charge coverage1 | 7.73 | 10.14 | 7.41 | 6.45 | 9.47 | |
| Benchmarks | ||||||
| Fixed Charge Coverage, Competitors2 | ||||||
| Mondelēz International Inc. | 9.42 | 6.60 | 10.28 | 8.27 | 6.51 | |
| PepsiCo Inc. | 6.43 | 7.28 | 4.85 | 6.06 | 6.79 | |
| Fixed Charge Coverage, Sector | ||||||
| Food, Beverage & Tobacco | 8.03 | 8.02 | 6.03 | 6.58 | 6.04 | |
| Fixed Charge Coverage, Industry | ||||||
| Consumer Staples | 7.71 | 8.59 | 6.77 | 6.80 | 5.01 | |
Based on: 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).
1 2023 Calculation
Fixed charge coverage = Earnings before fixed charges and tax ÷ Fixed charges
= 14,876 ÷ 1,924 = 7.73
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Fixed charge coverage ratio | A solvency ratio calculated as earnings before fixed charges and tax divided by fixed charges. | Coca-Cola Co. fixed charge coverage ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |