Enterprise Value to EBITDA (EV/EBITDA)
Earnings before Interest, Tax, Depreciation and Amortization (EBITDA)
Coca-Cola Co., EBITDA calculation
US$ in millions
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).
| Item | Description | The company |
|---|---|---|
| EBITDA | To calculate EBITDA analysts start with net earnings. To that earnings number, interest, taxes, depreciation, and amortization are added. EBITDA as a pre-interest number is a flow to all providers of capital. | Coca-Cola Co. EBITDA decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Enterprise Value to EBITDA Ratio, Current
Coca-Cola Co., current EV/EBITDA calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | 331,658) |
| Earnings before interest, tax, depreciation and amortization (EBITDA) | 15,607) |
| Valuation Ratio | |
| EV/EBITDA | 21.25 |
| Benchmarks | |
| EV/EBITDA, Competitors1 | |
| Mondelēz International Inc. | 12.26 |
| PepsiCo Inc. | 14.34 |
| Philip Morris International Inc. | 19.83 |
| EV/EBITDA, Sector | |
| Food, Beverage & Tobacco | 17.87 |
| EV/EBITDA, Industry | |
| Consumer Staples | 22.21 |
Based on: 10-K (reporting date: 2023-12-31).
1 Click competitor name to see calculations.
If the company EV/EBITDA is lower then the EV/EBITDA of benchmark then company is relatively undervalued.
Otherwise, if the company EV/EBITDA is higher then the EV/EBITDA of benchmark then company is relatively overvalued.
Enterprise Value to EBITDA Ratio, Historical
Coca-Cola Co., historical EV/EBITDA calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Enterprise value (EV)1 | 291,706) | 287,975) | 302,010) | 250,062) | 285,330) | |
| Earnings before interest, tax, depreciation and amortization (EBITDA)2 | 15,607) | 13,828) | 15,474) | 12,722) | 13,097) | |
| Valuation Ratio | ||||||
| EV/EBITDA3 | 18.69 | 20.83 | 19.52 | 19.66 | 21.79 | |
| Benchmarks | ||||||
| EV/EBITDA, Competitors4 | ||||||
| Mondelēz International Inc. | 14.65 | 21.64 | 15.62 | 15.14 | — | |
| PepsiCo Inc. | 16.75 | 18.63 | 18.42 | 17.17 | — | |
| Philip Morris International Inc. | 13.66 | 14.78 | 13.64 | 12.59 | — | |
| EV/EBITDA, Sector | ||||||
| Food, Beverage & Tobacco | 16.21 | 18.49 | 17.05 | 16.29 | — | |
| EV/EBITDA, Industry | ||||||
| Consumer Staples | 16.39 | 16.42 | 15.65 | 14.89 | — | |
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).
3 2023 Calculation
EV/EBITDA = EV ÷ EBITDA
= 291,706 ÷ 15,607 = 18.69
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/EBITDA | Enterprise value to earnings before interest, tax, depreciation and amortization is a valuation indicator for the overall company rather than common stock. | Coca-Cola Co. EV/EBITDA ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023. |