Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

Analysis of Long-term (Investment) Activity Ratios 

Microsoft Excel

Long-term Activity Ratios (Summary)

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

Microsoft Excel
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
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
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 4.86 4.33 4.58 4.87 4.90
Net Fixed Asset Turnover, Industry
Consumer Staples 5.55 4.79 4.69 4.59 4.51

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
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 4.43 3.95 4.18 4.87 4.90
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry
Consumer Staples 4.98 4.25 4.59 4.59 4.51

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
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
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 0.78 0.70 0.76 0.77 0.74
Total Asset Turnover, Industry
Consumer Staples 1.45 1.36 1.43 1.44 1.39

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
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
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 4.00 4.31 4.21 4.53 4.83
Equity Turnover, Industry
Consumer Staples 5.21 5.13 5.07 4.81 4.71

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.