Hey All,
Thanks for visiting my Coca-Cola Financial Report page. On this page, you will be able to find preliminary information about Coke's current financial performance as well as some historical track records and trends.
For a more detailed examination of Coke's financial performance, I offer two reports, which are "A Beginner's Guide to Coke 2021 Financial Analysis" and "Coke Financial Report by Paul Borosky, MBA." Both reports are written by myself, Paul Borosky, MBA., Doctoral Candidate and published author, and include:
- Summarized income statements for the last 5 years.
- Summarized balance sheets for the last 5 years.
- Five years’ 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 are provided in each section to help YOU conduct your OWN financial analysis!
- Each section includes an “in other words” segment. This is where I use plain English to explain concepts.
For a MORE in-depth review of the company's financial statements and ratios, make sure to buy my "Coke Financial Report". The financial report includes all aspects of my "Beginner's Guide" plus a whole lot more...
- Professional financial analysis of important income statements, balance sheets, and financial ratio trends.
- "Letter Grade" is assigned to most financial statement line items and financial ratios to help you better understand their overall trends for the last 5 years.
- Overall financial analysis summary for the company.
Enjoy the preliminary information and for a more detailed analysis, buy the financial report!
Sincerely,
Paul, MBA.
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Sample Financial Report


Coca-Cola's Company Summary
The Coca-Cola Company was started in 1886, as a beverage organization. The firm’s specialty is non-alcoholic beverages.
Coke does business in Europe, the Middle East, Africa, Latin America, North America, and Asia. Its 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 balance sheet information into a customized financial template.
Section 1: Coca-Cola Income Statement
In this section, I walk through a broad definition of 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:
Coca-Cola’s revenues were $33 billion in 2020. As of 2021, their revenues were $38.6 billion. This is a growth rate of 17.1% over the last year. However, the organization’s growth rate, on average, for the last five years was only 2.3%. The contrast is due to moderate revenue peaks and valleys. This trend should be concerning to investors.
Analyst Grade: B
Coca-Cola 2021 Summary Income Statement |
|||||
Column1 |
2021 |
2020 | 2019 | 2018 |
2017 |
Revenues |
38,655 |
33,014 | 37,266 | 34,300 |
36,212 |
COGS |
15,357 |
13,433 | 14,619 | 13,067 |
13,721 |
Gross Profit |
23,298 |
19,581 | 22,647 | 21,233 |
22,491 |
SG&A |
12,144 |
9,731 | 12,103 | 11,002 |
12,834 |
Depreciation |
1,452 |
1,536 | 1,365 | 1,086 |
1,260 |
R & D | |||||
Other |
846 |
853 | 458 | 1,079 |
1,902 |
Total Operating Expenses |
14,442 |
12,120 | 13,926 | 13,167 |
15,996 |
EBIT |
14,022 |
11,186 | 11,732 | 9,175 |
7,743 |
Other Income | |||||
Interest Expense |
1,597 |
1,437 | 946 | 950 |
853 |
EBT |
12,425 |
9,749 | 10,786 | 8,225 |
6,890 |
Taxes |
2,621 |
1,981 | 1,801 | 1,749 |
5,607 |
Net Income |
9,804 |
7,768 | 8,985 | 6,476 |
1,283 |
Section 2: Coca-Cola Balance Sheet Analyzed
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: Coca-Cola’s cash position in 2019 was $6.4 billion. In the next two years, Coca-Cola increased its cash position to $9.6 billion in 2021. As compared to sales, Coca-Cola’s cash was 17.4% in 2019 and 25.1% in 2021. This trend shows that the firm is holding more cash in relation to sales. This trend indicates that the company is financially solvent for the short term. From an investor’s perspective, the overall trend is average. To improve the trend, let’s see some consistency!
Analyst Grade: B
Coca-Cola 2021 Summary Balance Sheet |
|||||
Column1 |
2021 |
2020 | 2019 | 2018 |
2017 |
Cash |
9,684 |
6,795 | 6,480 | 9,077 |
6,006 |
Short Term Investment |
2,941 |
4,119 | 4,695 | 7,038 |
14,669 |
Account Receivable |
3,512 |
3,144 | 3,971 | 3,685 |
3,667 |
Inventory |
3,414 |
3,266 | 3,379 | 3,071 |
2,655 |
Other | |||||
Current Assets |
22,545 |
19,240 | 20,411 | 24,930 |
36,545 |
Net PPE |
9,920 |
10,777 | 10,838 | 9,598 |
8,203 |
Goodwill |
19,363 |
17,506 | 16,764 | 14,109 |
9,401 |
Other | |||||
Total Assets |
94,354 |
87,296 | 86,381 | 83,216 |
87,896 |
Accounts Payable |
14,619 |
11,145 | 11,312 | 9,533 |
8,748 |
Accrued Expense | |||||
Accrued Taxes |
686 |
788 | 414 | 411 |
410 |
Notes Payable |
3,307 |
2,183 | 10,994 | 13,835 |
13,205 |
LT Debt - Current |
1,338 |
485 | 4,253 | 5,003 |
3,298 |
Other | |||||
Total Current Liabilities |
19,950 |
14,601 | 26,973 | 28,782 |
27,194 |
LT Debt |
38,116 |
40,125 | 27,516 | 25,376 |
31,182 |
Other | |||||
Total Liabilities |
69,494 |
66,012 | 44,185 | 45,100 |
49,942 |
Common Stock |
19,876 |
19,361 | 18,914 | 18,280 |
17,624 |
Treasury |
51,641 |
52,016 | 52,244 | 51,719 |
50,677 |
Retained Earnings |
69,094 |
66,555 | 65,855 | 63,234 |
60,430 |
Other | |||||
Total Equity |
24,860 |
21,284 | 21,098 | 19,058 |
18,977 |
Total Equity & Liability |
94,354 |
87,296 | 65,283 | 64,158 |
68,919
|
Section 3: Coca-Cola's Financial Ratio Summary
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.
Coca-Cola’s current ratio was .76 in 2019. As of 2021, Coca-Cola’s current ratio would increase to 1.13. The growth in the firm’s current ratio shows that the company has enough current assets to cover its current liabilities in the short term. However, because the organization does generate cash daily, the company may be able to better optimize its current ratio by reducing it to about a range of .7 to .9.
Analyst Grade: B
Coca-Cola Return on Assets
Return on Assets (ROA)
Coca-Cola’s return on assets (ROA) was 1.46% in 2017. Over the next four years, the organization would improve its return on assets ending 2021 at 10.39%. The substantial growth in return on assets shows that the firm is continually doing a better job of generating revenues with assets under management. From an investor’s perspective, this is a good trend.
Analyst Grade: A
Coca-Cola 2021 Liquidity Ratios |
|||||
Ratios |
2021 |
2020 | 2019 | 2018 |
2017 |
Current Ratio |
1.13 |
1.32 |
|||
Cash Ratio |
0.63 |
0.75 |
|||
Quick Ratio |
0.96 |
1.09 |
|||
Net Working Capital |
2,595 |
4,639 |
|||
Coca-Cola 2021 Asset Utilization |
|||||
Ratios |
2021 |
2020 | 2019 | 2018 |
2017 |
Total Asset Turnover |
0.41 |
0.38 |
|||
Fixed Asset Turnover |
3.90 |
3.06 |
|||
Days Sales Outstanding |
31.42 |
39.33 |
|||
Inventory Turnover (Using Sales) |
11.57 |
9.94 |
|||
Inventory Turnover (Using COGS) |
4.60 |
4.04 |
|||
Accounts Receivable Turnover |
11.62 |
9.28 |
|||
Working Capital Turnover |
14.90 |
7.12 |
|||
AP Turnover |
1.20 |
1.19 |
|||
Average Days Inventory |
79.38 |
90.28 |
|||
Average Days Payable |
303.25 |
307.69 |
|||
Coca-Cola 2021 Profitability Ratios |
|||||
Ratios |
2021 |
2020 | 2019 | 2018 |
2017 |
Return on Assets |
10.39% |
8.90% |
|||
Return on Equity |
39.44% |
36.50% |
|||
Net Profit Margin |
25.36% |
23.53% |
|||
Gross Profit Margin |
60.27% |
59.31% |
|||
Operating Profit Margin |
36.27% |
33.88% |
|||
Basic Earning Power |
14.86% |
12.81% |
|||
ROCE |
18.85% |
15.39% |
|||
Capital Employed |
74,404 |
72,695 |
|||
ROIC |
16.36% |
13.91% |
|||
Coca-Cola 2021 Debt Ratios |
|||||
Ratios |
2021 |
2020 | 2019 | 2018 |
2017 |
Debt Ratio |
45.32% |
49.02% |
|||
Debt/Equity |
172.01% |
201.06% |
|||
Times Interest Earned |
8.78 |
7.78 |