Coca-Cola's Financial Statements and Financial Ratios Analyzed from 2016 to 2020

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Hey All,

Thanks for visiting my Coca Cola Financial Report page. On this page, you will be able to find preliminary information about Coca Cola current financial performance as well as some historical track records and trends. 

For a more detailed examination of Coca Cola financial performance, please check out the "Financial Report".  In this report, written by myself, Paul Borosky, MBA., Doctoral Candidate, and published author, you will find:

  • Summarized income statement for the last 5 years.
  • Summarized balance sheet for the last 5 years.
  • Summary analysis by myself of important income statement, balance sheet, and financial ratio trends and other happenings.
  • Five year’s worth of over twenty common financial ratios presented with formulas, calculations, and analysis tips for each ratio.
  • Line by line description, explanation, and analysis tip for most financial statement line items and financial ratios.
  • Professional financial analysis tips provided in each section to help YOU conduct your OWN financial analysis!
  • Each section includes an “in other words” segment.  This is were I use plain English to explain concepts.

Enjoy the preliminary information and for a more detailed analysis, buy the financial report!

Sincerely,

Paul MBA.

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Coca-Cola Financial Report by Paul Borosky, MBA.
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Sample Financial Report

Sample Financial Report by Paul Borosky, MBA.
Financial Report Sample 2

Coca-Cola's Company Summary From 2016 to 2020

The Coca-Cola Company was start in 1886, as a beverage organization.  The firm’s specialty is non-alcoholic beverages.

Coke does business in Europe, Middle East, Africa, Latin America, North America, and Asia.  Their headquarters is located at One Coca-Cola Plaza in Atlanta, Ga. They employ about 62,000 people.  Coke competes in the beverage – soft drink industry. As for competitors, Coke competes with Pepsi, Nestle, Dr. Pepper, and Kraft Heinz.

Coca-Cola Financial Report Sources

"Coca-Cola 2020 Financial Statements and Financial Ratios: Defined, Discussed, and Analyzed for 5 Years” was written by, Paul Borosky, MBA., doctoral candidate, and owner of Quality Business Plan.  In this summarized report, the author researched Coca-Cola's (Coke) 10k, Coca-Cola's 2020 10k annual report, Coca-Cola's 2016 10k annual report, Coca-Cola's 2019 10k annual report, and Coca-Cola's 2019 10k annual report as the basis for information gathering.  Once all Coca-Cola's 10k annual statements were collected, the author then inserted Coca-Cola's income statement information and Coca-Cola's balance sheet information into a customized financial template. 

Section 1: Coca Cola Income Statement Analyzed 2016 - 2020

In this section, I walk through a broad definition as to what an income statement is and why it is important.  From this, I then discuss and define income statement line items, such as revenues, gross profits, etc. in detail.  After each line item is defined and discussed, I finally offer a summary analysis of Coca Cola's important income statement line item trends for the last 5 years, in most cases.

Revenue Growth:  In 2016, Coke had revenues of approximately $41.8 billion.  In the next two years, the organization’s revenues would drop considerably, ending 2018 at $34.3 billion.  Fortunately, in 2019, the organization’s revenues would grow by approximately 8% ending the year at $37.2 billion.  However, the firm would suffer revenue losses again in 2020, ending the year at $33 billion.  The fluctuation in revenue growth indicates that the firm is struggling to maintain its market share.  From this, investors should not expect sustained growth from the organization.  To mitigate this problem, the company may need to expand its product offerings.

Coca-Cola Summary Income Statement 2020

Column1 2020 2019 2018 2017 2016
Revenues                    33,014                    37,266                    34,300                    36,212                      41,863
COGS                    13,433                    14,619                    13,067                    13,721                      16,465
Gross Profit                    19,581                    22,647                    21,233                    22,491                      25,398
 
SG&A                      9,731                    12,103                    11,002                    12,834                      15,262
Depreciation                      1,536                      1,365                      1,086                      1,260                        1,787
R & D
Other                         853                         458                      1,079                      1,902                        1,510
Operating Expenses                    10,584                    12,561                    12,081                    14,736                      16,772
EBIT                    11,186                    11,732                      9,175                      7,743                        8,869
Other Income
Interest Expense                      1,437                         946                         950                         853                           733
EBT                      9,749                    10,786                      8,225                      6,890                        8,136
Taxes                      1,981                      1,801                      1,749                      5,607                        1,586
Net Income                     7,768                     8,985                     6,476                     1,283                      6,550
Tax Rate 20.3% 16.7% 21.3% 81.4% 19.5%

Section 2: Coca Cola Balance Sheet Analyzed 2016 to 2020

For Coke's balance sheet, I again go through each important line item from the balance sheet.  In reviewing each line item, I will define Coke's balance sheet line item, such as cash, property, plant and equipment, and liabilities for the last 5 years.  Next, I then offer an analysis of Coke's balance sheet line item.

Cash:  Coke ended 2016 with $8.5 billion in cash.  In the next year, the company’s cash position would fall to $6 billion.  However, in 2018, the firm’s cash position would moderately increase to $9 billion.  In 2019, the organization’s cash position would again fall to $6.4 billion, only to slightly rebound in 2020 to $6.7 billion.

The fluctuation in cash indicates that the organization has no set policy for maintaining a consistent cash position.  The lack of a consistent cash position shows that the firm may dedicate little thought to fully optimizing its current asset holdings—a lack of oversight in my most humble of opinions.

Coca-Cola Summary Balance Sheet 2020

Column1 2020 2019 2018 2017 2016
Cash                        6,795                    6,480                    9,077                    6,006                    8,555
Short Term Investment                        4,119                    4,695                    7,038                  14,669                  13,646
Account Receivable                        3,144                    3,971                    3,685                    3,667                    3,856
Inventory                        3,266                    3,379                    3,071                    2,655                    2,675
Other
Current Assets                    19,240                20,411                24,930                36,545                34,010
Net PPE                      10,777                  10,838                    9,598                    8,203                  10,635
Goodwill                      17,506                  16,764                  14,109                    9,401                  10,629
Other
Total Assets                    87,296                86,381                83,216                87,896                87,270
Accounts Payable                      11,145                  11,312                    9,533                    8,748                    9,490
Accrued Expense
Accrued Taxes                           788                       414                       411                       410                       307
Notes Payable                        2,183                  10,994                  13,835                  13,205                  12,498
LT Debt - Current                           485                    4,253                    5,003                    3,298                    3,527
Other
Total Current Liabilities                      14,601                  26,973                  28,782                  27,194                  26,532
LT Debt                      40,125                  27,516                  25,376                  31,182                  29,684
Other
Total Liabilities                    66,012                44,185                45,100                49,942                40,830
Common Stock                      19,361                  18,914                  18,280                  17,624                  16,753
Treasury                      52,016                  52,244                  51,719                  50,677                  47,988
Retained Earnings                      66,555                  65,855                  63,234                  60,430                  14,993
Other
Total Equity                    21,284                21,098                19,058                18,977                23,220
Total Equity & Liability                    87,296                65,283                64,158                68,919                64,050

Section 3: Coca-Cola's Financial Ratio Summary From 2016 to 2020

For this section, I have chosen about 10 different financial ratios to review for Coca-Cola for the last 5 years.  In reviewing each of Coke's financial ratios, I first start with defining the financial ratio.  Next, I supply the financial formula for calculating the specific ratio.  Finally, I offer a brief analysis of Coke's important financial ratios.  Important ratios calculated and analyzed for the last five years include:

Coca Cola Current Ratio

Current Ratio.

Coke’s current ratio ended 2016 at 1.28.  In the next year, the organization’s current ratio would slightly increase to 1.34.  From this point, the organization’s current ratio would continually fall over the next two years ending 2019 at .76.  However, the firm would substantially increase its current ratio ending 2020 at 1.32.  The fluctuation in the organization’s current ratio indicates that the company has no set target for its current ratio.  Further, even a narrow range, or scope, is not evident.  A better strategy would be for the organization to identify a target current ratio and take specific actions to ensure it is maintained year-over-year.

Coca Cola Liquidity Ratios 2020

Ratios

2020

2019 2018 2017

2016

Current Ratio

                          1.32

                   0.76

Cash Ratio

                          0.47

                   0.24

Quick Ratio

                          1.09

                   0.63

Net Working Capital

                        1,272

                 2,104

 

Coca Cola Asset Utilization Ratios 2020

Ratios

2020

2019 2018 2017

2016

Total Asset Turnover

                          0.38

                   0.43

Fixed Asset Turnover

                          3.06

                   3.44

Days Sales Outstanding

                        34.76

                 38.89

Inventory Turnover

                        10.11

                 11.03

Accounts Receivable Turnover

                        10.50

                   9.38

Working Capital Turnover

                        25.95

                 17.71

AP Turnover

                          2.96

                   3.29

Average Days Inventory

                          0.03

                   0.03

Average Days Payable

                          0.01

                   0.01

 

Coca Cola Profitability Ratios 2020

Ratios

2020

2019 2018 2017

2016

Return on Assets

8.90%

10.40%

Return on Equity

36.50%

42.59%

Net Profit Margin

23.53%

24.11%

Gross Profit Margin

59.31%

60.77%

Operating Profit Margin

33.88%

31.48%

Basic Earning Power

12.81%

13.58%

ROCE

15.39%

19.75%

Capital Employed

                      72,695

               59,408

ROIC

73.97%

75.51%

 

Coca Cola Long-term Debt 2020

Ratios

2020

2019 2018 2017

2016

Debt Ratio

45.96%

31.85%

Debt/Equity

188.52%

130.42%

Times Interest Earned

                          7.78

                 12.40