COKE vs KO: Coca-Cola Consolidated and Coca-Cola compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Coca-Cola is the larger company, worth $384.9B, about 28.6 times Coca-Cola Consolidated.
- Coca-Cola grew revenue faster over the last year (+12.1% vs +10.6%).
- Coca-Cola keeps more of each dollar of revenue as operating profit (29.3% vs 13.0%).
- On earnings, Coca-Cola Consolidated is the cheaper stock (27.8x vs 28.1x).
- Coca-Cola's price assumes faster free cash flow growth: about 22% a year, against 6% for Coca-Cola Consolidated (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | COKE | KO |
|---|---|---|
| Market cap | $13.5B | $384.9B |
| Share price | $196.24 | $88.05 |
| Revenue (last fiscal year) | $7.2B | $47.9B |
| Free cash flow (last fiscal year) | $620M | $5.3B |
| Revenue growth, last year | +10.6% | +12.1% |
| Revenue growth per year, last 5 fiscal years | +6.8% | +5.5% |
| Operating margin | 13.0% | 29.3% |
| Net margin | 7.2% | 27.8% |
| Return on equity | — | 40.7% |
| P/E (trailing) | 27.8x | 28.1x |
| Price / free cash flow | 21.6x | 72.7x |
| EV / EBITDA | 17.1x | 21.7x |
| FCF growth the price implies | 6.1% | 22.0% |
| Dividend yield | 0.51% | 2.3% |
| Debt / equity | — | 2.04x |
| Fundamental grade | D | C |
| Superinvestors holding it | 2 | 12 |
| Insider purchases, last 12 months | 0 | 10 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Coca-Cola Consolidated
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $5.6B | $366M | 7.9% |
| 2022 | $6.2B | $256M | 10.3% |
| 2023 | $6.7B | $528M | 12.5% |
| 2024 | $6.9B | $505M | 13.3% |
| 2025 | $7.2B | $620M | 13.2% |
Coca-Cola
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $38.7B | $11.3B | 26.7% |
| 2022 | $43.0B | $9.5B | 25.4% |
| 2023 | $45.8B | $9.7B | 24.7% |
| 2024 | $47.1B | $4.7B | 21.2% |
| 2025 | $47.9B | $5.3B | 28.7% |
Where the revenue comes from
Coca-Cola Consolidated · by segments, 2025
Nonalcoholic Beverages$7.2B96%
All Other$326M4%
Coca-Cola · by segments, 2025
North America$19.6B40%
EMEA$11.5B24%
Latin America$6.3B13%
Bottling Investments$5.7B12%
Asia Pacific$5.6B12%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open COKE in InvestinglyQuestions
Which is bigger, Coca-Cola Consolidated or Coca-Cola?
Coca-Cola (KO), at $384.9B against $13.5B.
Is COKE or KO cheaper?
By trailing P/E, Coca-Cola Consolidated (27.8x) is cheaper than Coca-Cola (28.1x). A lower multiple can also mean the market expects less growth.
Which grows faster, COKE or KO?
Coca-Cola: revenue grew +12.1% over the last year, against +10.6%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.