Stock Analysis on Net
Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

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Price to FCFE (P/FCFE)

Microsoft Excel

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Free Cash Flow to Equity (FCFE)

Coca-Cola Co., FCFE calculation

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Net income attributable to shareowners of The Coca-Cola Company
Net (income) loss attributable to noncontrolling interests
Net noncash charges
Net change in operating assets and liabilities
Net cash provided by operating activities
Purchases of property, plant and equipment
Proceeds from disposals of property, plant and equipment
Issuances of loans, notes payable and long-term debt
Payments of loans, notes payable and long-term debt
Free cash flow to equity (FCFE)

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
FCFE Free cash flow to equity is the cash flow available to Coca-Cola Co. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. Coca-Cola Co. FCFE decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.

Price to FCFE Ratio, Current

Coca-Cola Co., current P/FCFE calculation, comparison to benchmarks

Microsoft Excel
No. shares of common stock outstanding
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)
FCFE per share
Current share price (P)
Valuation Ratio
P/FCFE
Benchmarks
P/FCFE, Competitors1
Altria Group Inc.
PepsiCo Inc.
Philip Morris International Inc.
P/FCFE, Sector
Food, Beverage & Tobacco
P/FCFE, Industry
Consumer Staples

Based on: 10-K (reporting date: 2023-12-31).

1 Click competitor name to see calculations.

If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.

Price to FCFE Ratio, Historical

Coca-Cola Co., historical P/FCFE calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
No. shares of common stock outstanding1
Selected Financial Data (US$)
Free cash flow to equity (FCFE) (in millions)2
FCFE per share3
Share price1, 4
Valuation Ratio
P/FCFE5
Benchmarks
P/FCFE, Competitors6
Altria Group Inc.
PepsiCo Inc.
Philip Morris International Inc.
P/FCFE, Sector
Food, Beverage & Tobacco
P/FCFE, Industry
Consumer Staples

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).

1 Data adjusted for splits and stock dividends.

2 See details »

3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =

4 Closing price as at the filing date of Coca-Cola Co. Annual Report.

5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =

6 Click competitor name to see calculations.

Valuation ratio Description The company
P/FCFE Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. Coca-Cola Co. P/FCFE ratio increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.