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Coca-Cola Co. (KO)
Enterprise Value to FCFF (EV/FCFF)
Medium level of difficulty
Free Cash Flow to The Firm (FCFF)
Coca-Cola Co., FCFF calculation
US$ in millions
Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Coca-Cola Co.’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Coca-Cola Co.’s FCFF declined from 2016 to 2017 but then increased from 2017 to 2018 not reaching 2016 level. |
Interest Paid, Net of Tax
Coca-Cola Co., interest paid, net of tax calculation
US$ in millions
Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25).
2 2018 Calculation
Interest paid, tax = Interest paid × EITR
= × =
Enterprise Value to FCFF Ratio, Current
Coca-Cola Co., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Free cash flow to the firm (FCFF) | |
| Valuation Ratio | |
| EV/FCFF | |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| PepsiCo Inc. | |
| EV/FCFF, Sector | |
| Beverages | |
| EV/FCFF, Industry | |
| Consumer Goods | |
Based on: 10-K (filing date: 2019-02-21).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Coca-Cola Co., historical EV/FCFF calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| PepsiCo Inc. | |
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| Beverages | |
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| Consumer Goods | |
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Based on: 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-24), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25).
3 2018 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Coca-Cola Co.’s EV/FCFF ratio increased from 2016 to 2017 but then slightly declined from 2017 to 2018. |