Coca-Cola Consolidated (COKE) financial statements
Coca-Cola Consolidated reported revenue of $7.2B in fiscal 2025, up 9.7% a year over 9 years.
Net income was $571M and the operating margin 13.2%, against 4.2% in 2016.
Free cash flow was $620M, and the company returned $87M in dividends and $2.6B in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Coca-Cola Consolidated's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.1B | $4.3B | $4.6B | $4.8B | $5.0B | $5.6B | $6.2B | $6.7B | $6.9B | $7.2B |
| Cost of revenue | $1.9B | $2.8B | $3.1B | $3.2B | $3.2B | $3.6B | $3.9B | $4.1B | $4.1B | $4.4B |
| Gross profit | $1.2B | $1.5B | $1.6B | $1.7B | $1.8B | $2.0B | $2.3B | $2.6B | $2.8B | $2.9B |
| Selling, general and admin | $1.1B | $1.4B | $1.5B | $1.5B | $1.5B | $1.5B | $1.6B | $1.8B | $1.8B | $1.9B |
| Operating income | $131M | $102M | $58M | $181M | $313M | $439M | $641M | $834M | $920M | $951M |
| Interest expense | $36M | $42M | $51M | $46M | $37M | $33M | $25M | -$918,000 | — | — |
| Pre-tax income | $93M | $63M | -$13M | $34M | $241M | $255M | $575M | $557M | $857M | $773M |
| Income tax | $36M | -$40M | $2M | $16M | $59M | $66M | $145M | $149M | $224M | $202M |
| Net income | $50M | $97M | -$20M | $11M | $172M | $190M | $430M | $408M | $633M | $571M |
| EPS (diluted) | $5.36 | $10.30 | -$2.13 | $1.21 | — | — | — | — | — | — |
| Diluted shares | 9M | 9M | 9M | 9M | — | — | — | — | — | — |
| Gross margin | 38.0% | 35.1% | 33.6% | 34.6% | 35.3% | 35.1% | 36.7% | 39.1% | 39.9% | 39.7% |
| Operating margin | 4.2% | 2.4% | 1.3% | 3.7% | 6.3% | 7.9% | 10.3% | 12.5% | 13.3% | 13.2% |
| Net margin | 1.6% | 2.3% | -0.4% | 0.2% | 3.4% | 3.4% | 6.9% | 6.1% | 9.2% | 7.9% |
Balance sheet
Fiscal years, from Coca-Cola Consolidated's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $22M | $17M | $14M | $10M | $55M | $142M | $198M | $635M | $1.4B | $282M |
| Inventory | $144M | $184M | $210M | $226M | $226M | $303M | $348M | $322M | $330M | $336M |
| Total current assets | $594M | $795M | $797M | $830M | $851M | $1.1B | $1.2B | $1.7B | $2.5B | $1.4B |
| Property, plant and equipment | $813M | $1.0B | $991M | $997M | $1.0B | $1.0B | $1.2B | $1.3B | $1.5B | $1.6B |
| Goodwill | $145M | $169M | $166M | $166M | $166M | $166M | $166M | $166M | $166M | $166M |
| Total assets | $2.4B | $3.1B | $3.0B | $3.1B | $3.2B | $3.4B | $3.7B | $4.3B | $5.3B | $4.3B |
| Total current liabilities | $458M | $639M | $602M | $622M | $647M | $835M | $905M | $1.1B | $1.3B | $1.1B |
| Long-term debt | $907M | $1.1B | $1.1B | $1.0B | $940M | $723M | $599M | $599M | $1.4B | $2.7B |
| Total liabilities | $2.1B | $2.6B | $2.6B | $2.7B | $2.7B | $2.7B | $2.6B | $2.9B | $3.9B | $5.0B |
| Shareholders' equity | $277M | $367M | $358M | $347M | $513M | $712M | $1.1B | $1.4B | $1.4B | -$740M |
| Net debt | $885M | $1.1B | $1.1B | $1.0B | $886M | $581M | $401M | -$36M | $651M | $2.5B |
Cash flow
Fiscal years, from Coca-Cola Consolidated's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $162M | $308M | $169M | $290M | $494M | $522M | $555M | $811M | $876M | $932M |
| Capital spending | $173M | $177M | $138M | $171M | $202M | $156M | $299M | $282M | $371M | $312M |
| Free cash flow | -$11M | $131M | $31M | $119M | $292M | $366M | $256M | $528M | $505M | $620M |
| Stock-based compensation | $7M | $8M | $6M | $2M | $0 | $0 | — | — | — | — |
| Dividends paid | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $47M | $186M | $87M |
| Share buybacks (net) | — | — | — | — | — | — | $0 | $0 | -$626M | -$2.6B |
| Net borrowing | $300M | — | — | — | — | — | — | — | — | — |
| Free cash flow margin | -0.3% | 3.1% | 0.7% | 2.5% | 5.8% | 6.6% | 4.1% | 7.9% | 7.3% | 8.6% |
| Dividends per share | $1.00 | $1.00 | $1.00 | $0.99 | — | — | — | — | — | — |
Questions
What was Coca-Cola Consolidated's revenue in 2025?
$7.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Coca-Cola Consolidated generate?
$620M in fiscal 2025 (operating cash flow minus capital spending).
From Coca-Cola Consolidated's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.