Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel LibreOffice Calc

Long-term Activity Ratios (Summary)

Coca-Cola Co., long-term (investment) activity ratios

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net fixed asset turnover 3.90 3.06 3.44 3.87 4.32
Net fixed asset turnover (including operating lease, right-of-use asset) 3.41 2.68 3.05 3.87 4.32
Total asset turnover 0.41 0.38 0.43 0.38 0.40
Equity turnover 1.68 1.71 1.96 1.88 2.07

Based on: 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).

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Coca-Cola Co. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Coca-Cola Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Coca-Cola Co. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Coca-Cola Co. equity turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.

Net Fixed Asset Turnover

Coca-Cola Co., net fixed asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net operating revenues 38,655  33,014  37,266  31,856  35,410 
Property, plant and equipment, net 9,920  10,777  10,838  8,232  8,203 
Long-term Activity Ratio
Net fixed asset turnover1 3.90 3.06 3.44 3.87 4.32
Benchmarks
Net Fixed Asset Turnover, Competitors2
Altria Group Inc. 16.75 13.00 12.56 13.09 13.36
Mondelēz International Inc. 3.32 2.94 2.96 3.06 2.98
PepsiCo Inc. 3.55 3.29 3.48 3.68 3.68
Philip Morris International Inc. 13.33 11.95 11.75 11.08 10.74
Net Fixed Asset Turnover, Sector
Food, Beverage & Tobacco 5.24 4.69 4.91 5.24 5.28
Net Fixed Asset Turnover, Industry
Consumer Staples 5.64 4.89 4.78 4.68 4.60

Based on: 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).

1 2021 Calculation
Net fixed asset turnover = Net operating revenues ÷ Property, plant and equipment, net
= 38,655 ÷ 9,920 = 3.90

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover An activity ratio calculated as total revenue divided by net fixed assets. Coca-Cola Co. net fixed asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)

Coca-Cola Co., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net operating revenues 38,655  33,014  37,266  31,856  35,410 
 
Property, plant and equipment, net 9,920  10,777  10,838  8,232  8,203 
Operating lease ROU assets (included in Other noncurrent assets) 1,418  1,548  1,372  —  — 
Property, plant and equipment, net (including operating lease, right-of-use asset) 11,338  12,325  12,210  8,232  8,203 
Long-term Activity Ratio
Net fixed asset turnover (including operating lease, right-of-use asset)1 3.41 2.68 3.05 3.87 4.32
Benchmarks
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2
Mondelēz International Inc. 3.10 2.75 2.78 3.06 2.98
PepsiCo Inc. 3.25 3.05 3.22 3.68 3.68
Philip Morris International Inc. 12.28 10.77 10.53 11.08 10.74
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector
Food, Beverage & Tobacco 4.79 4.29 4.51 5.24 5.28
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Staples 5.02 4.30 4.68 4.68 4.60

Based on: 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).

1 2021 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net operating revenues ÷ Property, plant and equipment, net (including operating lease, right-of-use asset)
= 38,655 ÷ 11,338 = 3.41

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Net fixed asset turnover (including operating lease, right-of-use asset) An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). Coca-Cola Co. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Total Asset Turnover

Coca-Cola Co., total asset turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net operating revenues 38,655  33,014  37,266  31,856  35,410 
Total assets 94,354  87,296  86,381  83,216  87,896 
Long-term Activity Ratio
Total asset turnover1 0.41 0.38 0.43 0.38 0.40
Benchmarks
Total Asset Turnover, Competitors2
Altria Group Inc. 0.66 0.55 0.51 0.46 0.59
Mondelēz International Inc. 0.43 0.39 0.40 0.41 0.41
PepsiCo Inc. 0.86 0.76 0.86 0.83 0.80
Philip Morris International Inc. 1.99 1.70 1.82 2.01 1.82
Total Asset Turnover, Sector
Food, Beverage & Tobacco 0.76 0.68 0.73 0.71 0.72
Total Asset Turnover, Industry
Consumer Staples 1.39 1.29 1.36 1.35 1.33

Based on: 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).

1 2021 Calculation
Total asset turnover = Net operating revenues ÷ Total assets
= 38,655 ÷ 94,354 = 0.41

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Total asset turnover An activity ratio calculated as total revenue divided by total assets. Coca-Cola Co. total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 not reaching 2019 level.

Equity Turnover

Coca-Cola Co., equity turnover calculation, comparison to benchmarks

Microsoft Excel LibreOffice Calc
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Selected Financial Data (US$ in millions)
Net operating revenues 38,655  33,014  37,266  31,856  35,410 
Equity attributable to shareowners of The Coca-Cola Company 22,999  19,299  18,981  16,981  17,072 
Long-term Activity Ratio
Equity turnover1 1.68 1.71 1.96 1.88 2.07
Benchmarks
Equity Turnover, Competitors2
Altria Group Inc. 9.21 4.04 1.72 1.66
Mondelēz International Inc. 1.02 0.96 0.95 1.01 0.99
PepsiCo Inc. 4.95 5.23 4.54 4.45 5.83
Philip Morris International Inc.
Equity Turnover, Sector
Food, Beverage & Tobacco 4.59 4.59 4.19 3.83 3.98
Equity Turnover, Industry
Consumer Staples 5.37 5.22 5.08 4.63 4.52

Based on: 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).

1 2021 Calculation
Equity turnover = Net operating revenues ÷ Equity attributable to shareowners of The Coca-Cola Company
= 38,655 ÷ 22,999 = 1.68

2 Click competitor name to see calculations.

Long-term activity ratio Description The company
Equity turnover An activity ratio calculated as total revenue divided by shareholders’ equity. Coca-Cola Co. equity turnover ratio deteriorated from 2019 to 2020 and from 2020 to 2021.