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Coca-Cola KO Bottling Investments — Divestitures

Other segment segments

EMEA
-$8M
Latin America
$0
North America
$0

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$8M-80.0%
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FDXFederal Express segment — Other
$31.25M-12.0%
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FDXFedEx Freight
Segment — Other
$240M+44.6%

Other financials

Income statement

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Revenue$13.4B+6.7%
Gross profit$8.4B+7.6%
Operating income$4.7B+9.2%
Net income$4.4B+16.1%
EPS (diluted)$1.03+17.0%

Balance sheet

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Cash & equivalents$13.2B+29.4%
Total debt$50.0B+1.8%
Total equity$36.2B+26.5%
Total assets$107.92B+3.4%

Cash flow

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Operating cash flow$5.5B+44.9%
CapEx$418.0M-5.4%
Free cash flow$5.1B+51.5%

Valuation

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Market cap$373.59B+24.9%
Enterprise value$410.37B+21.4%
P/E26.1×+1.5×
P/S7.5×+1.1×

Profitability

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Gross margin61.9%+0.5pp
Operating margin29.6%+1.7pp
Net margin28.6%+2.7pp
FCF margin28.5%

Returns & leverage

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Return on equity44.2%-0.5pp
Debt / equity1.4×-0.3×
Current ratio1.3×+0.1×

Where this comes from

Reported directly by Coca-Cola in its filing.

Tagged under the XBRL concept us-gaap:GoodwillOtherIncreaseDecrease.

The source filing: Coca-Cola’s 10-K, filed February 20, 2026.

Filed
Feb 20, 2026, 9:46 AM EST
Fiscal year
FY2025
Accession
0001628280-26-010047
Line itemEMEALatin AmericaNorth AmericaAsia PacificBottling InvestmentsTotal
Balance at beginning of year$3,647$226$10,978$417$3,090$18,358
Effect of foreign currency translation(107)(11)(10)(84)(212)
Impairment charges(6)(6)
Divestitures(1)(1)
Balance at end of year$3,540$215$10,978$407$2,999$18,139
2025
Balance at beginning of year$3,540$215$10,978$407$2,999$18,139
Effect of foreign currency translation311122396721

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FAQ

What is Coca-Cola's bottling investments — divestitures?
Coca-Cola (KO) reported bottling investments — divestitures of -$840.25M in Q4 2025.
How has Coca-Cola's bottling investments — divestitures changed year-over-year?
Coca-Cola's bottling investments — divestitures decreased by 336000.0% year-over-year, from -$250K to -$840.25M.
What is the long-term trend for Coca-Cola's bottling investments — divestitures?
Over 4 years (2021 to 2025), Coca-Cola's bottling investments — divestitures has grown at a 208.7% compound annual growth rate (CAGR), from -$37M to -$3.36B.
What does bottling investments — divestitures mean?
The financial impact resulting from the sale or disposal of bottling assets, business units, or equity interests. This reflects the company's strategy to optimize its portfolio by shedding non-core or underperforming distribution assets.

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