Debt to Equity
since 2005
Calculation
Coca-Cola Co., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Equity attributable to shareowners of The Coca-Cola Company1 | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 1.62 | = | 42,064) | ÷ | 25,941) |
| Dec 31, 2022 | 1.62 | = | 39,149) | ÷ | 24,105) |
| Dec 31, 2021 | 1.86 | = | 42,761) | ÷ | 22,999) |
| Dec 31, 2020 | 2.22 | = | 42,793) | ÷ | 19,299) |
| Dec 31, 2019 | 2.25 | = | 42,763) | ÷ | 18,981) |
| Dec 31, 2018 | 2.56 | = | 43,555) | ÷ | 16,981) |
| Dec 31, 2017 | 2.79 | = | 47,685) | ÷ | 17,072) |
| Dec 31, 2016 | 1.98 | = | 45,709) | ÷ | 23,062) |
| Dec 31, 2015 | 1.73 | = | 44,213) | ÷ | 25,554) |
| Dec 31, 2014 | 1.38 | = | 41,745) | ÷ | 30,320) |
| Dec 31, 2013 | 1.12 | = | 37,079) | ÷ | 33,173) |
| Dec 31, 2012 | 0.99 | = | 32,610) | ÷ | 32,790) |
| Dec 31, 2011 | 0.90 | = | 28,568) | ÷ | 31,635) |
| Dec 31, 2010 | 0.76 | = | 23,417) | ÷ | 31,003) |
| Dec 31, 2009 | 0.48 | = | 11,859) | ÷ | 24,799) |
| Dec 31, 2008 | 0.45 | = | 9,312) | ÷ | 20,472) |
| Dec 31, 2007 | 0.43 | = | 9,329) | ÷ | 21,744) |
| Dec 31, 2006 | 0.27 | = | 4,582) | ÷ | 16,920) |
| Dec 31, 2005 | 0.35 | = | 5,700) | ÷ | 16,355) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in millions
Comparison to Competitors
Coca-Cola Co., debt to equity, long-term trends, comparison to competitors
| Coca-Cola Co. | Altria Group Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|
| Dec 31, 2023 | 1.62 | — | 2.38 | — |
| Dec 31, 2022 | 1.62 | — | 2.28 | — |
| Dec 31, 2021 | 1.86 | — | 2.51 | — |
| Dec 31, 2020 | 2.22 | 10.38 | 3.28 | — |
| Dec 31, 2019 | 2.25 | 4.51 | 2.17 | — |
| Dec 31, 2018 | 2.56 | 1.74 | 2.23 | — |
| Dec 31, 2017 | 2.79 | 0.90 | 3.61 | — |
| Dec 31, 2016 | 1.98 | 1.09 | 3.33 | — |
| Dec 31, 2015 | 1.73 | 4.49 | 2.79 | — |
| Dec 31, 2014 | 1.38 | 4.87 | 1.66 | — |
| Dec 31, 2013 | 1.12 | 3.52 | 1.22 | — |
| Dec 31, 2012 | 0.99 | 4.38 | 1.27 | — |
| Dec 31, 2011 | 0.90 | 3.72 | 1.30 | 80.98 |
| Dec 31, 2010 | 0.76 | 2.35 | 1.18 | 4.71 |
| Dec 31, 2009 | 0.48 | 2.94 | 0.47 | 2.70 |
| Dec 31, 2008 | 0.45 | 2.64 | 0.68 | 1.59 |
| Dec 31, 2007 | 0.43 | 0.60 | 0.24 | — |
| Dec 31, 2006 | 0.27 | 0.47 | 0.18 | — |
| Dec 31, 2005 | 0.35 | 0.67 | 0.37 | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Coca-Cola Co., debt to equity, long-term trends, comparison to sector (food, beverage & tobacco)
| Coca-Cola Co. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2023 | 1.62 | 5.40 |
| Dec 31, 2022 | 1.62 | 5.23 |
| Dec 31, 2021 | 1.86 | 5.08 |
| Dec 31, 2020 | 2.22 | 6.43 |
| Dec 31, 2019 | 2.25 | 4.71 |
| Dec 31, 2018 | 2.56 | 3.94 |
| Dec 31, 2017 | 2.79 | 4.33 |
| Dec 31, 2016 | 1.98 | 3.67 |
| Dec 31, 2015 | 1.73 | 4.39 |
| Dec 31, 2014 | 1.38 | 3.01 |
| Dec 31, 2013 | 1.12 | 2.02 |
| Dec 31, 2012 | 0.99 | 1.78 |
| Dec 31, 2011 | 0.90 | 1.56 |
| Dec 31, 2010 | 0.76 | 1.27 |
| Dec 31, 2009 | 0.48 | 0.92 |
| Dec 31, 2008 | 0.45 | 0.86 |
| Dec 31, 2007 | 0.43 | 0.43 |
| Dec 31, 2006 | 0.27 | 0.36 |
| Dec 31, 2005 | 0.35 | 0.53 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Coca-Cola Co., debt to equity, long-term trends, comparison to industry (consumer staples)
| Coca-Cola Co. | Consumer Staples | |
|---|---|---|
| Dec 31, 2023 | 1.62 | 1.38 |
| Dec 31, 2022 | 1.62 | 1.25 |
| Dec 31, 2021 | 1.86 | 1.26 |
| Dec 31, 2020 | 2.22 | 1.43 |
| Dec 31, 2019 | 2.25 | 1.34 |
| Dec 31, 2018 | 2.56 | 1.19 |
| Dec 31, 2017 | 2.79 | 1.23 |
| Dec 31, 2016 | 1.98 | 1.12 |
| Dec 31, 2015 | 1.73 | 1.10 |
| Dec 31, 2014 | 1.38 | 1.05 |
| Dec 31, 2013 | 1.12 | 0.95 |
| Dec 31, 2012 | 0.99 | 0.91 |
| Dec 31, 2011 | 0.90 | 0.85 |
| Dec 31, 2010 | 0.76 | 0.77 |
| Dec 31, 2009 | 0.48 | 0.72 |
| Dec 31, 2008 | 0.45 | 0.68 |
| Dec 31, 2007 | 0.43 | 0.53 |
| Dec 31, 2006 | 0.27 | 0.54 |
| Dec 31, 2005 | 0.35 | 0.65 |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).