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Sunday 1 November 2026
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Coca-Cola Consolidated, Inc.
COKE Consumer Defensive Beverages Non Alcoholic
Coca-Cola Consolidated, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, up 4.76% from fiscal 2024.
- Revenue
- +10.6%
- EPS
- +11.2%
- Free cash flow
- −15.1%
- Total debt
- +40.5%
Quarter to June 2026, against a year earlier
210.30
0.94
+0.45%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 3,130 | 4,288 | 4,625 | 4,827 | 5,007 | 5,563 | 6,201 | 6,654 | 6,900 | 7,228 | 7,692 | +9.7% | — | — | — | — | |
| Gross margin, % | 38.00 | 35.10 | 33.63 | 34.61 | 35.33 | 35.13 | 36.74 | 39.06 | 39.90 | 39.74 | 39.11 | +1.7 pt | ||||||
| EBT | 93 | 63 | (13) | 34 | 241 | 255 | 575 | 557 | 857 | 773 | 747 | +26.6% | ||||||
| EBT margin, % | 2.96 | 1.47 | (0.29) | 0.71 | 4.81 | 4.59 | 9.27 | 8.38 | 12.42 | 10.69 | 9.71 | +7.7 pt | ||||||
| Net income | 57 | 103 | (15) | 19 | 182 | 190 | 430 | 408 | 633 | 571 | 550 | +29.3% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 33.62 | 45.96 | 49.47 | 51.51 | 53.42 | 59.35 | 66.15 | 70.98 | 76.33 | 86.35 | 115.55 | +11.0% | |||||
| Earnings | 0.54 | 1.04 | (0.21) | 0.12 | 1.84 | 2.02 | 4.59 | 4.36 | 7.01 | 6.82 | 7.55 | +32.6% | ||||||
| Cash flow | 1.74 | 3.30 | 1.81 | 3.10 | 5.28 | 5.57 | 5.92 | 8.65 | 9.69 | 11.13 | 14.22 | +22.9% | ||||||
| Capex | (1.84) | (1.89) | (1.42) | (1.79) | (2.12) | (1.70) | (3.43) | (3.00) | (4.10) | (3.65) | (4.53) | +7.9% | ||||||
| Free cash flow | (0.10) | 1.41 | 0.38 | 1.31 | 3.16 | 3.87 | 2.48 | 5.64 | 5.60 | 7.48 | 9.69 | n/m | ||||||
| Book value | 3.90 | 4.92 | 4.87 | 4.81 | 5.47 | 7.59 | 11.90 | 15.32 | 15.68 | (8.84) | (7.51) | n/m | ||||||
| Shares, m | 93 | 93 | 94 | 94 | 94 | 94 | 94 | 94 | 90 | 84 | 76 | (1.2%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 33.34 | 20.42 | 0.00 | 234.79 | 14.47 | 30.61 | 10.39 | 21.46 | 18.02 | 22.48 | 27.84 | 40.6 | |||||
| P/S | 0.53 | 0.46 | 0.36 | 0.55 | 0.50 | 1.04 | 0.72 | 1.32 | 1.65 | 1.78 | 1.82 | 0.9 | ||||||
| P/B | 4.61 | 4.30 | 3.64 | 5.90 | 4.87 | 8.15 | 4.01 | 6.11 | 8.03 | 0.00 | 0.00 | 5.0 | ||||||
| EV/Sales | 0.88 | 0.76 | 0.64 | 0.77 | 0.69 | 1.16 | 0.79 | 1.32 | 1.70 | 2.12 | 2.12 | 1.1 | ||||||
| EV/FCF | (290.39) | 24.60 | 81.91 | 30.26 | 11.76 | 17.44 | 21.10 | 16.58 | 23.23 | 24.51 | 25.35 | (3.9) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 162 | 308 | 169 | 290 | 494 | 522 | 555 | 811 | 876 | 932 | 946 | +21.5% | |||||
| Capex | (172) | (176) | (133) | (167) | (199) | (159) | (322) | (282) | (370) | (306) | (302) | +6.6% | ||||||
| Free cash flow | (10) | 132 | 36 | 123 | 296 | 362 | 233 | 529 | 506 | 626 | 645 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 136 | 155 | 196 | 208 | 204 | 242 | 341 | 614 | 1,234 | 298 | 266 | +9.1% | |||||
| Net debt | 935 | 1,114 | 1,126 | 1,062 | 982 | 674 | 439 | (31) | 352 | 2,505 | 2,342 | +11.6% | ||||||
| Shareholders’ equity | 363 | 459 | 455 | 451 | 513 | 712 | 1,115 | 1,436 | 1,418 | (740) | (500) | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 2.33 | 3.50 | (0.66) | 0.37 | 5.43 | 5.69 | 12.02 | 10.21 | 13.19 | 11.87 | 11.03 | +9.5 pt | |||||
| ROIC | 6.32 | 4.03 | 2.29 | 7.47 | 13.10 | 19.81 | 25.78 | 37.13 | 32.51 | 33.65 | 33.84 | +27.3 pt | ||||||
| ROE | 14.63 | 23.49 | (4.36) | 2.51 | 35.78 | 30.96 | 47.08 | 32.02 | 44.38 | 168.34 | 97.33 | +153.7 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 13,200 | 16,500 | 16,200 | 16,900 | 15,800 | 16,000 | 17,000 | 17,000 | 17,000 | 17,000 | — | +2.9% | |||||
| Revenue/emp, $m | 0.24 | 0.26 | 0.29 | 0.29 | 0.32 | 0.35 | 0.36 | 0.39 | 0.41 | 0.43 | — | +6.7% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Nonalcoholic Beverages | 7,184 | 99.39% |
|---|---|---|
| All Other | 326 | 4.51% |
| Gross margin | 39.74% | |
| Operating margin | 13.15% | |
| Pre-tax margin | 10.69% |
Coca-Cola Consolidated, Inc. vs peers in Beverages Non Alcoholic (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MNST Monster Beverage Corporation | $90.8B | 43.5× | 41.2× | +20.17% (above 0%: growing) | +20.00% (above 0%: growing) | +8.01% (above 0%: growing) | 55.95% | 29.18% | Compare |
| CCEP Coca-Cola Europacific Partners | $49.2B | 15.4× | 23.3× | +36.01% (above 0%: growing) | +209.23% (above 0%: growing) | −33.36% (below 0%: shrinking) | 35.80% | 0.00% | Compare |
| KDP Keurig Dr Pepper, Inc | $48.0B | 36.2× | 23.5× | +75.57% (above 0%: growing) | −90.00% (below 0%: shrinking) | +120.43% (above 0%: growing) | 41.95% | 8.59% | Compare |
| COKE Coca-Cola Consolidated, Inc. | $13.9B | 27.8× | — (loss-making) | +10.61% (above 0%: growing) | +11.16% (above 0%: growing) | −15.07% (below 0%: shrinking) | 37.93% | 13.22% | |
| CELH Celsius Holdings Inc. | $7.1B | 122× | 24.4× | +10.64% (above 0%: growing) | −57.58% (below 0%: shrinking) | +479.43% (above 0%: growing) | 48.13% | 9.20% | Compare |
| KOF Coca Cola Femsa S.A.B. de C.V. | $6.1B | 17.3× | 17.2× | +17.31% (above 0%: growing) | +30.77% (above 0%: growing) | −24.76% (below 0%: shrinking) | 47.09% | 13.96% | Compare |
| FIZZ National Beverage Corp. | $3.3B | 18.8× | 19.4× | +0.04% (above 0%: growing) | −16.67% (below 0%: shrinking) | +10.33% (above 0%: growing) | 35.02% | 17.69% | Compare |
| COCO Vita Coco Company, Inc. | $3.2B | 30.4× | 28.5× | +28.08% (above 0%: growing) | +115.00% (above 0%: growing) | +287.22% (above 0%: growing) | 48.72% | 29.21% | Compare |
| AKO.B Embotelladora Andina S.A. | $2.2B | 13.7× | — | +11.10% (above 0%: growing) | +4.00% (above 0%: growing) | +930.72% (above 0%: growing) | 38.92% | 10.52% | Compare |
| Median of peers | $6.6B | 24.6× | 23.5× | +18.74% | +12.00% | +65.38% | 44.52% | 12.24% |
Pay and ownership Proxy statement filed 23 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 16.71m | 15.31m | 602.04 |
| 2024 | 19.03m | 19.03m | 490.97 |
| 2023 | 19.78m | 18.69m | 353.72 |
| 2022 | 14.69m | 14.69m | 193.39 |
| 2021 | 13.55m | 13.51m | 233.24 |
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Read the proxy statement
Coca-Cola Consolidated distributes, markets and manufactures nonalcoholic beverages across territories in several states and the District of Columbia. Its chief executive officer is J. Frank Harrison, III.
The company handles both sparkling and still drinks. Sparkling drinks are carbonated, with Coca-Cola as its principal product. Still beverages include energy drinks, bottled water, ready-to-drink tea and coffee, enhanced water, juices and sports drinks. Its portfolio also includes drinks licensed from other beverage companies, such as Monster Energy and Dr Pepper.