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Coca-Cola KO Operating margin

Operating margin at other companies

National Beverage logo
National BeverageFIZZ
19.5%-0.1pp
PepsiCo logo
PepsiCoPEP
14.8%+3.4pp
Celsius Holdings, Inc. logo
Celsius Holdings, Inc.CELH
7.7%
Keurig Dr Pepper logo
Keurig Dr PepperKDP
20.8%+3.9pp
The Vita Coco Company, Inc. logo
The Vita Coco Company, Inc.COCO
19.1%+6.7pp
Zevia logo
ZeviaZVIA
-4.6%-1.9pp

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$376.86B+27.0%
Enterprise value$413.64B+23.2%
P/E26.3×+2.0×
P/S7.5×+1.2×

Profitability

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Gross margin61.9%+0.5pp
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

Calculated from Coca-Cola’s reported figures.

Based on trailing twelve months.

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

Filed
Jul 29, 2026, 2:04 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-050503

FAQ

What is Coca-Cola's operating margin?
Coca-Cola (KO) reported operating margin of 29.6% in Q2 2026.
How has Coca-Cola's operating margin changed year-over-year?
Coca-Cola's operating margin increased by 6.0% year-over-year, from 28% to 29.6%.
What is the long-term trend for Coca-Cola's operating margin?
Over 5 years (2020 to 2025), Coca-Cola's operating margin has grown at a 1.0% compound annual growth rate (CAGR), from 27.3% to 28.7%.
What does operating margin mean?
Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

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