KO
The Coca-Cola Company
KO's fundamentals are mixed: it turned 28% of its revenue into free cash flow, while its operating margin held steady at 30%. Its PE of 29x looks cheaper than it really is, because one-off gains boosted its recent earnings. Analysts expect earnings growth.
KO Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Healthy |
KO's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
KO PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 24x | $81.16 | -17% |
| Fair | 27x | $90.11 | -7.5% |
| Forward | 28x | $97.44 | — |
| Expensive | 29x | $98.35 | +0.9% |
| Current | 29x | $97.44 | — |
Historical ranges are pointers, not guarantees.
KO's PE is in its expensive range at 29x, but its recent earnings include one-off gains. On analysts' estimates for next year's earnings, today's price would be 28x.
KO Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Growth | |
| Stable | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect KO's earnings to grow and its profitability to improve, with its revenue holding steady.
KO Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.47 | +2% |
| Q3 2026 | $3.40 | +13% |
| Q2 2026 | $3.33 | +19% |
| Q1 2026 | $3.18 | +28% |
| Q4 2025 | $3.04 | +24% |
| Q3 2025 | $3.01 | +25% |
| Q2 2025 | $2.81 | +14% |
| Q1 2025 | $2.49 | 0% |
| Q4 2024 | $2.46 | -0.4% |
KO earned $3.40 per share over the past year, up 13% from the year before. Its recent earnings include one-off gains.
KO Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $13.4B | +7.4% |
| Q2 2026 | $13.4B | +6.7% |
| Q1 2026 | $12.5B | +12% |
| Q4 2025 | $11.8B | +2.4% |
| Q3 2025 | $12.5B | +5.1% |
| Q2 2025 | $12.5B | +1.4% |
| Q1 2025 | $11.1B | -1.5% |
| Q4 2024 | $11.5B | +6.4% |
KO's revenue has grown year over year for six quarters in a row: $13.4B last quarter, up 7.4% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 33% | +1.4 points |
| Q2 2026 | 35% | +0.8 points |
| Q1 2026 | 35% | +2.1 points |
| Q4 2025 | 16% | -7.9 points |
| Q3 2025 | 32% | +11 points |
| Q2 2025 | 34% | +13 points |
| Q1 2025 | 33% | +14 points |
| Q4 2024 | 23% | +2.5 points |
KO's operating margin was 33% last quarter, up 1.4 points from the same quarter a year ago.
KO Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $4.5B | -0.3% |
| Q2 2026 | $5.1B | +51% |
| Q1 2026 | $1.8B | +$7.3B |
| Q4 2025 | $2.9B | -8.7% |
| Q3 2025 | $4.6B | +$6.3B |
| Q2 2025 | $3.4B | +6.5% |
| Q1 2025 | -$5.5B | -3588% |
| Q4 2024 | $3.1B | +73% |
KO generated $14.3B in free cash flow over the past year, up 156% from the year before.
KO Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +1M shares |
| 1 year | 0% | +1M shares |
| 3 years | -0.6% | -25M shares |
| 5 years | -0.7% | -30M shares |
| Available history | 0% | -- |
KO has 4.3B diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $237M |
| Q2 2026 | $186M |
| Q1 2026 | $477M |
| Q4 2025 | $102M |
| Q3 2025 | $172M |
| Q2 2025 | $102M |
| Q1 2025 | $370M |
| Q4 2024 | $567M |
KO spent $1B buying back its own shares over the past year, down 17% from the year before.
KO Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.7x | Healthy |
| Q2 2026 | 1.9x | Healthy |
| Q1 2026 | 2.1x | Moderate |
| Q4 2025 | 2.4x | Moderate |
| Q3 2025 | 2.2x | Moderate |
| Q2 2025 | 2.8x | Moderate |
| Q1 2025 | 3.2x | Elevated |
| Q4 2024 | 3.0x | Elevated |
KO's net debt is about 1.7 years of its operating earnings (EBITDA), down from 2.2 years a year ago.
KO Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 71.8 | Overbought |
| Stochastic | 89.6 | Overbought |
KO's weekly RSI is 72 (overbought) and its Stochastic is 90 (overbought).
KO PE vs Consumer Defensive Sector
| Metric | KO | Sector median | Relative |
|---|---|---|---|
| PE | 29x | 19x | 47% above |
| PE % | 80 | 18 | 62 pts above |
KO is trading at 29x earnings, a 47% premium to the Consumer Defensive sector's median of 19x, though its recent earnings include one-off gains.
KO Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $91.9 | 6% above |
| 20 week MA | $88.7 | 9.8% above |
| 50 week MA | $81.3 | 20% above |
| 100 week MA | $75.1 | 30% above |
| 200 week MA | $68.5 | 42% above |
KO is in an uptrend: it's above all five of its weekly moving averages, and 42% above its 200-week average.
KO Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $55.4 | $53.4 | -3.5% |
| 2021 | $53.4 | $58.2 | +8.9% |
| 2022 | $58.2 | $63.8 | +9.6% |
| 2023 | $63.8 | $58.9 | -7.7% |
| 2024 | $58.9 | $62.5 | +6% |
| 2025 | $62.5 | $69.9 | +12% |
| 2026 YTD | $69.9 | $97.4 | +39% |
KO has finished higher in four of the last six years. It's up 39% so far in 2026.