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Coca-Cola KO Concentrate operations — Net Operating Revenues

Other product segments

Finished product operations
$5.23B+23.3%

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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:Revenues.

The source filing: Coca-Cola’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 2:04 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-050503
Three Months Ended July 3, 2026United StatesInternationalTotal
Concentrate operations$2,426$5,720$8,146
Finished product operations2,8342,4005,234
Total$5,260$8,120$13,380
Three Months Ended June 27, 2025
Concentrate operations$2,322$5,296$7,618
Finished product operations2,6132,3044,917
Total$4,935$7,600$12,535

Item 1. Financial Statements

FAQ

What is Coca-Cola's concentrate operations — net operating revenues?
Coca-Cola (KO) reported concentrate operations — net operating revenues of $8.15B in Q2 2026.
How has Coca-Cola's concentrate operations — net operating revenues changed year-over-year?
Coca-Cola's concentrate operations — net operating revenues decreased by 1.7% year-over-year, from $8.29B to $8.15B.
What is the long-term trend for Coca-Cola's concentrate operations — net operating revenues?
Over 3 years (2022 to 2025), Coca-Cola's concentrate operations — net operating revenues has grown at a 5.7% compound annual growth rate (CAGR), from $24.07B to $28.46B.
What does concentrate operations — net operating revenues mean?
This metric represents the total revenue generated from the sale of beverage concentrates, syrup bases, and fountain syrups to authorized bottling and distribution partners. It reflects the core upstream business model where the company provides the proprietary formula and brand equity to partners who handle the final manufacturing, packaging, and local distribution. This segment is a primary driver of the company's global brand licensing and supply chain strategy.

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