COKE

MKT CAP:$16B

Coca-Cola Consolidated, Inc.

Market Cap

$16B

Consumer Defensive·Beverages - Non-Alcoholic·🇺🇸 United States·NASDAQ

Consumer Def.·Beverages·🇺🇸·NASDAQ

Stock Price

$191.89+$42.05 (+28.06%)

Apr 23, 2026

Company Details

Coca-Cola Consolidated, Inc., together with its subsidiaries, manufactures, markets, and distributes nonalcoholic beverages primarily products of The Coca-Cola Company in the United States. The company offers sparkling beverages, such as ca...

CEO

J. Frank Harrison

IPO Date

Jun 23, 1990

Website

www.cokeconsolidated.com

Key Metrics TTM

Revenue

$7.2B

+4.8% YoY

Net Income

$571M

EPS (Diluted)

$6.82

Free Cash Flow

$620M

Revenue / Share

$86.25

Gross Margin

39.4%

Operating Margin

13.2%

Net Margin

7.9%

FCF Margin

8.6%

P/S

2.3x

P/E

28.8x

Earnings Reports

Q1 2026

Apr 29, 2026

PENDING

FY 2025

Feb 18, 2026

$7.2B+4.8%EPS $6.81

Q4 2025

Feb 18, 2026

$1.9B+9.0%EPS $1.84

Q3 2025

Oct 29, 2025

$1.9B+6.9%EPS $1.64

Q2 2025

Jul 24, 2025

$1.9B+3.3%EPS $2.15

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1.4B	$508M	$131M
Q2 22	$1.6B	$551M	$147M
Q3 22	$1.6B	$621M	$190M
Q4 22	$1.6B	$599M	$173M
Q1 23	$1.6B	$624M	$206M
Q2 23	$1.7B	$672M	$234M
Q3 23	$1.7B	$662M	$216M
Q4 23	$1.6B	$641M	$178M
Q1 24	$1.6B	$641M	$215M
Q2 24	$1.8B	$717M	$259M
Q3 24	$1.8B	$698M	$227M
Q4 24	$1.7B	$698M	$219M
Q1 25	$1.6B	$627M	$190M
Q2 25	$1.9B	$742M	$272M
Q3 25	$1.9B	$749M	$247M
Q4 25	$1.9B	$728M	$246M

Valuation

Quarter	P/S	P/E
Q1 22	2.9x	71.6x
Q2 22	2.8x	58.5x
Q3 22	2.7x	49.7x
Q4 22	2.7x	38.2x
Q1 23	2.6x	36.2x
Q2 23	2.5x	34.4x
Q3 23	2.5x	36.5x
Q4 23	2.5x	40.3x
Q1 24	2.5x	36.1x
Q2 24	2.4x	32.5x
Q3 24	2.4x	31.0x
Q4 24	2.4x	26.0x
Q1 25	2.4x	28.8x
Q2 25	2.4x	28.1x
Q3 25	2.3x	26.9x
Q4 25	2.3x	28.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$131M	-$4M
Q2 22	$113M	$102M
Q3 22	$151M	$112M
Q4 22	$160M	$15M
Q1 23	$185M	$132M
Q2 23	$199M	$158M
Q3 23	$261M	$202M
Q4 23	$166M	$36M
Q1 24	$194M	$117M
Q2 24	$243M	$160M
Q3 24	$271M	$143M
Q4 24	$168M	$85M
Q1 25	$198M	$100M
Q2 25	$208M	$149M
Q3 25	$317M	$264M
Q4 25	$210M	$107M

Capital Expenditures

Quarter	CapEx
Q1 22	$135M
Q2 22	$11M
Q3 22	$39M
Q4 22	$145M
Q1 23	$53M
Q2 23	$40M
Q3 23	$59M
Q4 23	$130M
Q1 24	$77M
Q2 24	$82M
Q3 24	$128M
Q4 24	$84M
Q1 25	$98M
Q2 25	$60M
Q3 25	$53M
Q4 25	$102M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+10.6%	+8.3%
Q2 22	+11.3%	+10.3%
Q3 22	+11.7%	+9.0%
Q4 22	+12.2%	+6.4%
Q1 23	+11.9%	+7.2%
Q2 23	+9.0%	+4.0%
Q3 23	+5.1%	+4.0%
Q4 23	+3.7%	+3.8%
Q1 24	+1.3%	+0.8%
Q2 24	+3.3%	+2.1%
Q3 24	+3.1%	+2.8%
Q4 24	+7.1%	+5.2%
Q1 25	-0.7%	+1.0%
Q2 25	+3.3%	+3.0%
Q3 25	+6.9%	+6.7%
Q4 25	+9.0%	+8.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$2M	0.1%
Q2 22	$4M	0.2%
Q3 22	$2M	0.1%
Q4 22	$2M	0.1%
Q1 23	$2M	0.1%
Q2 23	$4M	0.2%
Q3 23	$2M	0.1%
Q4 23	$2M	0.1%
Q1 24	$2M	0.1%
Q2 24	$4M	0.2%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q1 22	—	—	$377M
Q2 22	—	$403M	—
Q3 22	$431M	—	—
Q4 22	—	—	$426M
Q1 23	—	—	$418M
Q2 23	$437M	$192.8K	—
Q3 23	$523M	—	—
Q4 23	$459M	—	—
Q1 24	—	—	$425M
Q2 24	$458M	—	—
Q3 24	$471M	—	—
Q4 24	$479M	—	—
Q1 25	—	—	$437M
Q2 25	$471M	—	—
Q3 25	—	—	$502M
Q4 25	$482M	—	—

Revenue Segments

Quarter	Nonalcoholic Beverage Segment	Other Segments	Other Operating Segment
Q1 22	$1.4B	$96M	—
Q2 22	$1.6B	$106M	—
Q3 22	$1.6B	$101M	—
Q4 22	$1.5B	$96M	—
Q1 23	$1.5B	$92M	—
Q2 23	$1.7B	$95M	—
Q3 23	$1.7B	$94M	—
Q4 23	$1.6B	$90M	—
Q1 24	$1.6B	$88M	—
Q2 24	$1.8B	—	$87M
Q3 24	$1.8B	—	$86M
Q1 25	$1.6B	—	$76M
Q2 25	$1.8B	—	$81M
Q3 25	$1.9B	—	$86M
Q4 25	$1.9B	—	$83M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$127M	$0	$127M
Q2 22	$189M	$0	$189M
Q3 22	$163M	$0	$163M
Q4 22	$198M	$0	$198M
Q1 23	$290M	$0	$290M
Q2 23	$430M	$0	$430M
Q3 23	$616M	$0	$616M
Q4 23	$635M	$0	$635M
Q1 24	$401M	$184M	$585M
Q2 24	$1.7B	$199M	$1.9B
Q3 24	$1.2B	$215M	$1.5B
Q4 24	$1.1B	$301M	$1.4B
Q1 25	$1.2B	$340M	$1.5B
Q2 25	$1.2B	$350M	$1.6B
Q3 25	$1.5B	$149M	$1.7B
Q4 25	$282M	$0	$282M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	94M	+0.1%	-0.1%
Q2 22	94M	+0.0%	-0.1%
Q3 22	94M	+0.1%	-0.0%
Q4 22	94M	-0.2%	+0.0%
Q1 23	94M	+0.0%	-0.0%
Q2 23	94M	+0.0%	-0.0%
Q3 23	94M	-0.0%	-0.1%
Q4 23	94M	-0.1%	-0.1%
Q1 24	104M	+10.9%	+10.8%
Q2 24	103M	-0.6%	+10.0%
Q3 24	88M	-15.2%	-6.6%
Q4 24	87M	-0.3%	-6.8%
Q1 25	87M	-0.2%	-16.1%
Q2 25	87M	-0.1%	-15.7%
Q3 25	87M	-0.5%	-1.1%
Q4 25	84M	-3.4%	-4.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$87.8K	16K
Q2 22	$99.7K	16K
Q3 22	$101.8K	16K
Q4 22	$92.5K	17K
Q1 23	$92.4K	17K
Q2 23	$102.3K	17K
Q3 23	$100.7K	17K
Q4 23	$95.9K	17K
Q1 24	$93.6K	17K
Q2 24	$105.6K	17K
Q3 24	$103.9K	17K
Q4 24	$102.7K	17K
Q1 25	$92.9K	17K
Q2 25	$109.1K	17K
Q3 25	$111.1K	17K
Q4 25	$112.0K	17K

Revenue / Employee