Stock Analysis on Net
Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

Analysis of Profitability Ratios
Quarterly Data

Beginner level

Profitability Ratios (Summary)

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

Microsoft Excel LibreOffice Calc
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 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
Return on Sales
Gross profit margin 59.42% 59.31% 59.90% 60.04% 60.66% 60.77% 60.93% 61.56% 62.35% 63.05% 63.67% 63.57% 63.20% 62.56% 61.51% 61.15% 60.91% 60.67%
Operating profit margin 27.93% 27.25% 26.36% 26.29% 26.98% 27.06% 27.11% 28.20% 28.32% 27.31% 25.95% 24.07% 21.61% 21.18% 20.20% 19.78% 20.80% 20.61%
Net profit margin 21.59% 23.47% 24.90% 26.77% 26.95% 23.94% 21.98% 20.69% 20.48% 20.20% 8.70% 7.18% 4.23% 3.52% 12.20% 10.68% 15.30% 15.59%
Return on Investment
Return on equity (ROE) 35.46% 40.14% 44.78% 52.56% 55.17% 46.99% 41.40% 38.69% 38.03% 37.89% 15.40% 12.98% 7.31% 7.31% 20.57% 18.86% 27.22% 28.30%
Return on assets (ROA) 8.02% 8.87% 8.57% 9.70% 10.65% 10.33% 8.86% 7.82% 7.63% 7.73% 3.24% 2.66% 1.54% 1.42% 5.03% 4.55% 6.83% 7.48%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-22), 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).

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Coca-Cola Co.’s gross profit margin ratio deteriorated from Q3 2020 to Q4 2020 but then slightly improved from Q4 2020 to Q1 2021.
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Coca-Cola Co.’s operating profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Coca-Cola Co.’s net profit margin ratio deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Coca-Cola Co.’s ROE deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.
ROA A profitability ratio calculated as net income divided by total assets. Coca-Cola Co.’s ROA improved from Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 2021.

Gross Profit Margin

Coca-Cola Co., gross profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 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
Selected Financial Data (US$ in millions)
Gross profit 5,515  5,033  5,181  4,137  5,230  5,502  5,740  6,076  5,329  4,337  5,186  5,675  4,888  4,823  5,683  6,043  5,605  5,615  6,502  7,068  6,213 
Net operating revenues 9,020  8,611  8,652  7,150  8,601  9,068  9,507  9,997  8,694  7,058  8,245  8,927  7,626  7,512  9,078  9,702  9,118  9,409  10,633  11,539  10,282 
Profitability Ratio
Gross profit margin1 59.42% 59.31% 59.90% 60.04% 60.66% 60.77% 60.93% 61.56% 62.35% 63.05% 63.67% 63.57% 63.20% 62.56% 61.51% 61.15% 60.91% 60.67%
Benchmarks
Gross Profit Margin, Competitors2
PepsiCo Inc. 54.65% 54.82% 55.19% 55.28% 55.15% 55.13% 55.00% 54.77% 54.74% 54.56% 54.34% 54.42% 54.47% 54.69% 54.89% 54.87% 55.00% 55.08%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-22), 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).

1 Q1 2021 Calculation
Gross profit margin = 100 × (Gross profitQ1 2021 + Gross profitQ4 2020 + Gross profitQ3 2020 + Gross profitQ2 2020) ÷ (Net operating revenuesQ1 2021 + Net operating revenuesQ4 2020 + Net operating revenuesQ3 2020 + Net operating revenuesQ2 2020)
= 100 × (5,515 + 5,033 + 5,181 + 4,137) ÷ (9,020 + 8,611 + 8,652 + 7,150) = 59.42%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Gross profit margin Gross profit margin indicates the percentage of revenue available to cover operating and other expenditures. Coca-Cola Co.’s gross profit margin ratio deteriorated from Q3 2020 to Q4 2020 but then slightly improved from Q4 2020 to Q1 2021.

Operating Profit Margin

Coca-Cola Co., operating profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 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
Selected Financial Data (US$ in millions)
Operating income 2,722  2,338  2,298  1,981  2,380  2,164  2,499  2,988  2,435  1,636  2,526  2,727  1,811  1,321  2,120  2,078  1,982  1,355  2,271  2,859  2,141 
Net operating revenues 9,020  8,611  8,652  7,150  8,601  9,068  9,507  9,997  8,694  7,058  8,245  8,927  7,626  7,512  9,078  9,702  9,118  9,409  10,633  11,539  10,282 
Profitability Ratio
Operating profit margin1 27.93% 27.25% 26.36% 26.29% 26.98% 27.06% 27.11% 28.20% 28.32% 27.31% 25.95% 24.07% 21.61% 21.18% 20.20% 19.78% 20.80% 20.61%
Benchmarks
Operating Profit Margin, Competitors2
PepsiCo Inc. 14.68% 14.32% 14.52% 14.48% 14.98% 15.32% 15.18% 15.32% 15.87% 15.64% 15.89% 16.18% 16.21% 16.54% 16.21% 16.00% 16.03% 15.58%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-22), 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).

1 Q1 2021 Calculation
Operating profit margin = 100 × (Operating incomeQ1 2021 + Operating incomeQ4 2020 + Operating incomeQ3 2020 + Operating incomeQ2 2020) ÷ (Net operating revenuesQ1 2021 + Net operating revenuesQ4 2020 + Net operating revenuesQ3 2020 + Net operating revenuesQ2 2020)
= 100 × (2,722 + 2,338 + 2,298 + 1,981) ÷ (9,020 + 8,611 + 8,652 + 7,150) = 27.93%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Operating profit margin A profitability ratio calculated as operating income divided by revenue. Coca-Cola Co.’s operating profit margin ratio improved from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Net Profit Margin

Coca-Cola Co., net profit margin calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 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
Selected Financial Data (US$ in millions)
Net income attributable to shareowners of The Coca-Cola Company 2,245  1,456  1,737  1,779  2,775  2,042  2,593  2,607  1,678  870  1,880  2,316  1,368  (2,752) 1,447  1,371  1,182  550  1,046  3,448  1,483 
Net operating revenues 9,020  8,611  8,652  7,150  8,601  9,068  9,507  9,997  8,694  7,058  8,245  8,927  7,626  7,512  9,078  9,702  9,118  9,409  10,633  11,539  10,282 
Profitability Ratio
Net profit margin1 21.59% 23.47% 24.90% 26.77% 26.95% 23.94% 21.98% 20.69% 20.48% 20.20% 8.70% 7.18% 4.23% 3.52% 12.20% 10.68% 15.30% 15.59%
Benchmarks
Net Profit Margin, Competitors2
PepsiCo Inc. 10.51% 10.12% 10.27% 10.13% 10.62% 10.89% 18.78% 19.59% 19.37% 19.35% 7.66% 7.14% 7.62% 7.65% 10.97% 10.77% 10.66% 10.08%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-22), 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).

1 Q1 2021 Calculation
Net profit margin = 100 × (Net income attributable to shareowners of The Coca-Cola CompanyQ1 2021 + Net income attributable to shareowners of The Coca-Cola CompanyQ4 2020 + Net income attributable to shareowners of The Coca-Cola CompanyQ3 2020 + Net income attributable to shareowners of The Coca-Cola CompanyQ2 2020) ÷ (Net operating revenuesQ1 2021 + Net operating revenuesQ4 2020 + Net operating revenuesQ3 2020 + Net operating revenuesQ2 2020)
= 100 × (2,245 + 1,456 + 1,737 + 1,779) ÷ (9,020 + 8,611 + 8,652 + 7,150) = 21.59%

2 Click competitor name to see calculations.

Profitability ratio Description The company
Net profit margin An indicator of profitability, calculated as net income divided by revenue. Coca-Cola Co.’s net profit margin ratio deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Return on Equity (ROE)

Coca-Cola Co., ROE calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 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
Selected Financial Data (US$ in millions)
Net income attributable to shareowners of The Coca-Cola Company 2,245  1,456  1,737  1,779  2,775  2,042  2,593  2,607  1,678  870  1,880  2,316  1,368  (2,752) 1,447  1,371  1,182  550  1,046  3,448  1,483 
Equity attributable to shareowners of The Coca-Cola Company 20,355  19,299  18,607  17,484  18,158  18,981  18,713  18,181  17,735  16,981  18,264  18,323  19,610  17,072  22,119  22,001  22,876  23,062  26,076  26,637  24,914 
Profitability Ratio
ROE1 35.46% 40.14% 44.78% 52.56% 55.17% 46.99% 41.40% 38.69% 38.03% 37.89% 15.40% 12.98% 7.31% 7.31% 20.57% 18.86% 27.22% 28.30%
Benchmarks
ROE, Competitors2
PepsiCo Inc. 53.75% 52.92% 52.22% 54.84% 53.76% 49.47% 87.78% 91.74% 88.61% 86.20% 48.13% 45.47% 44.86% 44.60% 52.41% 54.95% 58.05% 57.04%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-22), 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).

1 Q1 2021 Calculation
ROE = 100 × (Net income attributable to shareowners of The Coca-Cola CompanyQ1 2021 + Net income attributable to shareowners of The Coca-Cola CompanyQ4 2020 + Net income attributable to shareowners of The Coca-Cola CompanyQ3 2020 + Net income attributable to shareowners of The Coca-Cola CompanyQ2 2020) ÷ Equity attributable to shareowners of The Coca-Cola Company
= 100 × (2,245 + 1,456 + 1,737 + 1,779) ÷ 20,355 = 35.46%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROE A profitability ratio calculated as net income divided by shareholders’ equity. Coca-Cola Co.’s ROE deteriorated from Q3 2020 to Q4 2020 and from Q4 2020 to Q1 2021.

Return on Assets (ROA)

Coca-Cola Co., ROA calculation (quarterly data)

Microsoft Excel LibreOffice Calc
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 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
Selected Financial Data (US$ in millions)
Net income attributable to shareowners of The Coca-Cola Company 2,245  1,456  1,737  1,779  2,775  2,042  2,593  2,607  1,678  870  1,880  2,316  1,368  (2,752) 1,447  1,371  1,182  550  1,046  3,448  1,483 
Total assets 89,993  87,296  97,184  94,689  94,013  86,381  87,433  89,996  88,347  83,216  86,877  89,593  93,282  87,896  90,515  91,146  91,201  87,270  93,927  94,094  91,263 
Profitability Ratio
ROA1 8.02% 8.87% 8.57% 9.70% 10.65% 10.33% 8.86% 7.82% 7.63% 7.73% 3.24% 2.66% 1.54% 1.42% 5.03% 4.55% 6.83% 7.48%
Benchmarks
ROA, Competitors2
PepsiCo Inc. 8.22% 7.66% 7.65% 7.65% 8.51% 9.31% 16.01% 17.05% 16.68% 16.12% 6.72% 5.84% 5.96% 6.09% 8.88% 8.86% 9.00% 8.54%

Based on: 10-Q (filing date: 2021-04-27), 10-K (filing date: 2021-02-25), 10-Q (filing date: 2020-10-22), 10-Q (filing date: 2020-07-22), 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).

1 Q1 2021 Calculation
ROA = 100 × (Net income attributable to shareowners of The Coca-Cola CompanyQ1 2021 + Net income attributable to shareowners of The Coca-Cola CompanyQ4 2020 + Net income attributable to shareowners of The Coca-Cola CompanyQ3 2020 + Net income attributable to shareowners of The Coca-Cola CompanyQ2 2020) ÷ Total assets
= 100 × (2,245 + 1,456 + 1,737 + 1,779) ÷ 89,993 = 8.02%

2 Click competitor name to see calculations.

Profitability ratio Description The company
ROA A profitability ratio calculated as net income divided by total assets. Coca-Cola Co.’s ROA improved from Q3 2020 to Q4 2020 but then deteriorated significantly from Q4 2020 to Q1 2021.