CocaCola Company (The)
KO Consumer Defensive Beverages Non Alcoholic
CocaCola Company (The)’s revenue for fiscal 2025 (year ended December 2025) was $47.9 billion, up 1.87% from fiscal 2024. In the quarter to June 2026, revenue grew 6.74%, EPS grew 15.7%, free cash flow grew 51.4% and total debt fell 3.49%, each against the same quarter a year earlier. Member of the S&P 500 and Dow Jones; dividend growth for twenty-five consecutive years, revenue growth for five.
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CocaCola Company (The) (KO) Altman Z-score
CocaCola Company (The)'s Altman Z-score for fiscal 2025 is 4.63, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 4.63 | 0.60 |
| FY2024 | 4.03 | (0.09) |
| FY2023 | 4.12 | (0.31) |
| FY2022 | 4.43 | 0.39 |
| FY2021 | 4.03 | 0.04 |
| FY2020 | 3.99 | 0.02 |
| FY2019 | 3.97 | 0.30 |
| FY2018 | 3.67 | 0.17 |
| FY2017 | 3.50 | (0.14) |
| FY2016 | 3.64 | (0.02) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.09 | — | 0.11 | |
| Retained earnings / total assets | 0.77 | — | 1.07 | |
| EBIT / total assets | 0.13 | — | 0.43 | |
| Market value of equity / total liabilities | 4.26 | — | 2.56 | |
| Sales / total assets | 0.46 | — | 0.46 | |
| Altman Z-score | Safe zone | 4.63 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 4.50 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MNST Monster Beverage Corporation compare | 29.3× |
| COCO Vita Coco Company, Inc. compare | 17.4× |
| KO CocaCola Company (The) | 4.6× |
| COKE Coca-Cola Consolidated, Inc. compare | 3.8× |
| PEP PepsiCo, Inc. compare | 3.5× |
| KOF Coca Cola Femsa S.A.B. de C.V. compare | 3.3× |
| CELH Celsius Holdings Inc. compare | 2.6× |
| CCEP Coca-Cola Europacific Partners compare | 2.4× |
| KDP Keurig Dr Pepper, Inc compare | 1.4× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on KO
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement