Stock Analysis on Net

Coca-Cola Co. (NYSE:KO)

Common Stock Valuation Ratios (Price Multiples)

Microsoft Excel

Current Valuation Ratios

Coca-Cola Co., current price multiples

Microsoft Excel
Coca-Cola Co. Mondelēz International Inc. PepsiCo Inc. Philip Morris International Inc. Food, Beverage & Tobacco Consumer Staples
Selected Financial Data
Current share price (P) $71.33
No. shares of common stock outstanding 4,301,000,395
Growth rate (g) 8.48%
 
Earnings per share (EPS) $2.47
Next year expected EPS $2.68
Operating profit per share $2.32
Sales per share $10.94
Book value per share (BVPS) $5.78
Valuation Ratios (Price Multiples)
Price to earnings (P/E) 28.86 18.55 21.35 34.41 26.34 33.11
Price to next year expected earnings 26.60 17.35 19.09 23.58 29.75
Price-earnings-growth (PEG) 3.40 2.67 1.80 2.25 2.93
Price to operating profit (P/OP) 30.70 13.48 15.87 18.12 19.70 23.58
Price to sales (P/S) 6.52 2.35 2.23 6.41 3.94 1.88
Price to book value (P/BV) 12.34 3.18 11.34 14.46 10.61

Based on: 10-K (reporting date: 2024-12-31).

If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.


Historical Valuation Ratios (Summary)

Coca-Cola Co., historical price multiples

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Price to earnings (P/E) 28.34 24.43 27.12 27.63 27.91
Price to operating profit (P/OP) 30.15 23.14 23.72 26.19 24.03
Price to sales (P/S) 6.40 5.72 6.02 6.99 6.55
Price to book value (P/BV) 12.12 10.09 10.73 11.74 11.20

Based on: 10-K (reporting date: 2024-12-31), 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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Coca-Cola Co. P/E ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Coca-Cola Co. P/OP ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Coca-Cola Co. P/S ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Coca-Cola Co. P/BV ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Price to Earnings (P/E)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 4,301,000,395 4,312,456,168 4,326,691,783 4,335,473,308 4,309,311,676
Selected Financial Data (US$)
Net income attributable to shareowners of The Coca-Cola Company (in millions) 10,631 10,714 9,542 9,771 7,747
Earnings per share (EPS)2 2.47 2.48 2.21 2.25 1.80
Share price1, 3 70.04 60.70 59.80 62.28 50.17
Valuation Ratio
P/E ratio4 28.34 24.43 27.12 27.63 27.91
Benchmarks
P/E Ratio, Competitors5
Mondelēz International Inc. 16.11 20.87 33.07 21.64 22.33
PepsiCo Inc. 20.55 25.40 26.71 30.58 26.15
Philip Morris International Inc. 32.02 17.69 17.54 18.37 16.55
P/E Ratio, Sector
Food, Beverage & Tobacco 25.04 22.54 24.66 24.78 23.23
P/E Ratio, Industry
Consumer Staples 29.43 26.62 25.35 26.07 24.12

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
EPS = Net income attributable to shareowners of The Coca-Cola Company ÷ No. shares of common stock outstanding
= 10,631,000,000 ÷ 4,301,000,395 = 2.47

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

4 2024 Calculation
P/E ratio = Share price ÷ EPS
= 70.04 ÷ 2.47 = 28.34

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Coca-Cola Co. P/E ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Price to Operating Profit (P/OP)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 4,301,000,395 4,312,456,168 4,326,691,783 4,335,473,308 4,309,311,676
Selected Financial Data (US$)
Operating income (in millions) 9,992 11,311 10,909 10,308 8,997
Operating profit per share2 2.32 2.62 2.52 2.38 2.09
Share price1, 3 70.04 60.70 59.80 62.28 50.17
Valuation Ratio
P/OP ratio4 30.15 23.14 23.72 26.19 24.03
Benchmarks
P/OP Ratio, Competitors5
Mondelēz International Inc. 11.71 18.81 25.43 20.00 20.60
PepsiCo Inc. 15.27 19.23 20.67 20.87 18.47
Philip Morris International Inc. 16.86 11.96 12.96 12.90 11.43
P/OP Ratio, Sector
Food, Beverage & Tobacco 18.73 18.19 19.51 19.52 17.78
P/OP Ratio, Industry
Consumer Staples 20.96 19.82 18.28 19.01 18.29

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= 9,992,000,000 ÷ 4,301,000,395 = 2.32

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

4 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 70.04 ÷ 2.32 = 30.15

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Coca-Cola Co. P/OP ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Price to Sales (P/S)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 4,301,000,395 4,312,456,168 4,326,691,783 4,335,473,308 4,309,311,676
Selected Financial Data (US$)
Net operating revenues (in millions) 47,061 45,754 43,004 38,655 33,014
Sales per share2 10.94 10.61 9.94 8.92 7.66
Share price1, 3 70.04 60.70 59.80 62.28 50.17
Valuation Ratio
P/S ratio4 6.40 5.72 6.02 6.99 6.55
Benchmarks
P/S Ratio, Competitors5
Mondelēz International Inc. 2.04 2.87 2.85 3.24 2.99
PepsiCo Inc. 2.14 2.52 2.75 2.93 2.65
Philip Morris International Inc. 5.97 3.93 5.00 5.33 4.65
P/S Ratio, Sector
Food, Beverage & Tobacco 3.74 3.52 3.87 4.28 3.88
P/S Ratio, Industry
Consumer Staples 1.67 1.45 1.54 1.61 1.49

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
Sales per share = Net operating revenues ÷ No. shares of common stock outstanding
= 47,061,000,000 ÷ 4,301,000,395 = 10.94

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

4 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 70.04 ÷ 10.94 = 6.40

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Coca-Cola Co. P/S ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.

Price to Book Value (P/BV)

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

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
No. shares of common stock outstanding1 4,301,000,395 4,312,456,168 4,326,691,783 4,335,473,308 4,309,311,676
Selected Financial Data (US$)
Equity attributable to shareowners of The Coca-Cola Company (in millions) 24,856 25,941 24,105 22,999 19,299
Book value per share (BVPS)2 5.78 6.02 5.57 5.30 4.48
Share price1, 3 70.04 60.70 59.80 62.28 50.17
Valuation Ratio
P/BV ratio4 12.12 10.09 10.73 11.74 11.20
Benchmarks
P/BV Ratio, Competitors5
Mondelēz International Inc. 2.76 3.65 3.34 3.29 2.88
PepsiCo Inc. 10.91 12.45 13.88 14.52 13.84
Philip Morris International Inc.
P/BV Ratio, Sector
Food, Beverage & Tobacco 13.74 11.92 12.59 13.34 12.88
P/BV Ratio, Industry
Consumer Staples 9.43 8.14 8.11 8.15 7.44

Based on: 10-K (reporting date: 2024-12-31), 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).

1 Data adjusted for splits and stock dividends.

2 2024 Calculation
BVPS = Equity attributable to shareowners of The Coca-Cola Company ÷ No. shares of common stock outstanding
= 24,856,000,000 ÷ 4,301,000,395 = 5.78

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

4 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 70.04 ÷ 5.78 = 12.12

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Coca-Cola Co. P/BV ratio decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.