The Coca-Cola Company (KO)财务
NYSE · Consumer Defensive · Beverages - Non-Alcoholic · 员工65,900人 · CEO Henrique Gnani Braun
- 股价
- $94.08 +1.36%
- 市值
- $4050亿
- 企业价值
- $4330亿
- 最近财报
- Q3 '26 2026-10-28提交
营收(TTM)$511亿+7.1% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)30.0%-0.7 百分点 对比去年同期营业利润 $153亿
净利润(TTM)$146亿+12.3% 对比去年同期税后,含营业外收益
自由现金流(TTM)$143亿+156.4% 对比去年同期资本支出 $19.5亿
稀释EPS(TTM)$3.40+12.6% 对比去年同期最近4个季度之和
净现金-$250亿+20.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $4050亿 EV $4330亿
- 营收
- $511亿 过去12个月
- 营收增速
- +5% FY2026年一致预期
- 净利润率
- 28.7% 净利润 / 营收,TTM
- P/E
- 27.7× 预期 28.2×(FY2026)
- P/S
- 7.9× 股价 / 营收,TTM
- EV / EBITDA
- 21.2× TTM
- 自由现金流
- $143亿 过去12个月
- 净利润
- $146亿 过去12个月
- 营收预期
- $504亿 FY2026年一致预期
- 盈利
- –
- 股息
- $2.10 每股,过去12个月
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-10-27):营收超预期3.7%,EPS 超预期3.3%营收$134亿,预期$129亿(+3.7%);EPS $0.91,预期$0.88(+3.3%)。
- 营收增长平稳:同比7.4%Q3 '26营收$134亿,此前四个季度的平均值为6.6%。
- 营业利润率30.0%(TTM),较去年同期-0.7 百分点营收增长7.1%,营业利润增长4.8%。
- 税前利润的14.2%来自营业外收益税前利润$179亿,营业利润$153亿(TTM)。股权投资收益等一次性项目推高了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的3.8%(去年为4.3%)最近4个季度投入$19.5亿(同比-4.3%)。自由现金流$143亿,相当于净利润的97.6%。
- 股东回报$122亿 = 自由现金流的85.6%回购$10亿(去年为$12.1亿),股息$112亿,股权激励$2.69亿(TTM)。
- 稀释股数一年内增加0.0%Q3 '26稀释股数43.1亿,一年前为43.1亿。
- 净债务 $250亿现金 + 短期投资 $166亿,含租赁债务 $416亿;一年前净债务 $316亿。
上一季度:Q3 '26
截至2026-10-02的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q3 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $134亿 | $125亿 | +7.4% |
| 毛利率 | 63.2% | 61.5% | +1.7 百分点 |
| 营业利润 | $44.7亿 | $39.8亿 | +12.1% |
| 营业利润率 | 33.4% | 32.0% | +1.4 百分点 |
| 净利润 | $40.1亿 | $37亿 | +8.5% |
| 稀释EPS | $0.93 | $0.86 | +8.1% |
| 经营现金流 | $49.3亿 | $50.4亿 | -2.3% |
| 资本支出 | $3.79亿 | $4.79亿 | -20.9% |
| 自由现金流 | $45.5亿 | $45.6亿 | -0.3% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $7700万 | $7400万 | +4.1% |
实际 vs 一致预期
2026-10-27| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $134亿 | $129亿 | +3.7% |
| EPS(一致预期口径) | $0.91 | $0.88 | +3.3% |
来自2026-10-27发布的Q3 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Pacific | $120亿 | +6.0% | 88.7% | $352亿 | -16.1% | |
| Bottling investments | $15.2亿 | +13.2% | 11.3% | $62.1亿 | +7.5% |
按地区划分的营收
占总额比例| 分部 | Q3 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| North America | $53.9亿 | +2.5% | 44.8% | $206亿 | +6.8% | |
| Europe | $31亿 | +3.6% | 25.8% | – | – | |
| Latin America | $19.6亿 | +24.5% | 16.3% | $71.7亿 | +14.2% | |
| Pacific | $15.6亿 | +3.8% | 13.0% | $57.9亿 | +1.3% |
分部利润
取自每份10-Q / 10-K分部附注的各披露分部营业利润(多数数据源缺少的利润拆分)。
Q3 '26分部
| 分部 | 营收 | 同比 | 营业利润 | 同比 | 利润率 | 去年同期利润率 | TTM营业利润 |
|---|---|---|---|---|---|---|---|
| Pacific | – | – | – | – | – | 34.6% | – |
| Global Ventures | – | – | – | – | – | – | – |
| Corporate | – | – | – | – | – | -797.1% | – |
| Eliminations | – | – | – | – | – | -0.0% | – |
| Europe Middle East Africa | – | – | $11.7亿 | +6.7% | – | 36.6% | $45.5亿 |
| Latin America Segment | – | – | $11.5亿 | +28.4% | – | 57.0% | $43.5亿 |
| North America Segment | – | – | $17.7亿 | +5.1% | – | 32.0% | $54.9亿 |
| Bottling Investments | – | – | $2.05亿 | +259.6% | – | 4.2% | $6.78亿 |
| A.Pacific | – | – | $5.63亿 | +8.1% | – | – | $20.1亿 |
| Material Reconciling Items | – | – | $48.6亿 | +14.2% | – | – | $171亿 |
| Corporate (unallocated) | – | – | -$3.92亿 | -44.6% | – | – | -$17.4亿 |
各分部营业利润
季度各分部营业利润率
季度第四季度为推算值:10-K披露全年数据,减去10-Q的前三个季度。
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $162亿
- 资本支出
- -$19.5亿
- 股票回购
- -$10亿
- 股息
- -$112亿
- 收购
- $35.7亿
- 债务净发行
- -$38.2亿
- 股权激励费用
- $2.69亿
- 自由现金流
- $143亿
- 股东回报 / FCF
- 85.6%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | 27.7× | 25.4× | 22.9× – 28.9× |
| EV / EBITDA | 21.2× | 19.3× | 18.1× – 22.2× |
| EV / 营收 | 8.5× | 6.9× | 6.3× – 7.5× |
| 股价 / FCF | 28.3× | 38.2× | 22.7× – 56.8× |
| 股价 / 净资产 | 10.8× | 10.5× | 9.4× – 11.4× |
| FCF收益率 | 3.5% | 3.0% | 1.8% – 4.4% |
| 投入资本回报率 | 14.3% | 11.4% | 10.2% – 13.0% |
| 净资产收益率 | 42.0% | 41.4% | 39.6% – 42.8% |
分析师
一致目标价 $97.58 (+3.7%)
区间 $86.00 – $106.00 · 评级 Buy
强烈买入0
买入29
持有16
卖出3
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $504亿 | +5.2% | $3.34 | +9.8% | 28.2× | 13 |
| FY2027 | $491亿 | -2.7% | $3.53 | +5.6% | 26.7× | 14 |
| FY2028 | $516亿 | +5.1% | $3.78 | +7.1% | 24.9× | 8 |
| FY2029 | $537亿 | +4.1% | $4.01 | +6.2% | 23.4× | 5 |
| FY2030 | $561亿 | +4.5% | $4.26 | +6.1% | 22.1× | 5 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
The Coca-Cola Company在近期10-Q / 10-K文件中标记的全部379项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable and Accrued Liabilities, Current | $156亿 | $177亿 | -11.6% | $148亿 | $217亿 | -31.8% |
| Accounts Payable, Trade, Current | $56.5亿2025-12-31 | $54.7亿 | +3.3% | $56.5亿 | $54.7亿 | +3.3% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $35.7亿 | $39.5亿 | -9.5% | $30.4亿 | $35.7亿 | -14.9% |
| Accounts Receivable, Allowance for Credit Loss, Current | $5.14亿 | $5.2亿 | -1.2% | $4.95亿 | $5.06亿 | -2.2% |
| Accounts Receivable, Sale | – | – | – | $147亿 | $219亿 | -32.7% |
| Accrued Income Taxes, Current | $5.77亿 | $5.68亿 | +1.6% | $5.25亿 | $13.9亿 | -62.1% |
| Accrued Marketing Costs, Current | $29.3亿2025-12-31 | $30.9亿 | -5.4% | $29.3亿 | $30.9亿 | -5.4% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $90.2亿 | – | – | $80.8亿2019-12-31 | $80.1亿 | +0.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$141亿 | -$150亿 | +5.8% | -$141亿 | -$168亿 | +16.1% |
| Additional Paid in Capital, Common Stock | $209亿 | $205亿 | +2.0% | $206亿 | $198亿 | +3.9% |
| Adjustment for Long-term Intercompany Transactions, Gross of Tax | -$3.87亿 | -$3900万 | -892.3% | $29.7亿 | -$14.6亿 | +303.8% |
| Adjustment for Long-term Intercompany Transactions, Net of Tax | -$3.87亿 | -$3900万 | -892.3% | $29.7亿 | -$14.6亿 | +303.8% |
| Adjustment for Long-term Intercompany Transactions, Tax Expense (Benefit) | $0 | $0 | – | $0 | $0 | – |
| Advertising Expense | – | – | – | $54亿 | $51亿 | +5.9% |
| Amortization Method Qualified Affordable Housing Project Investments | $7000万 | $3700万 | +89.2% | $3200万 | $4100万 | -22.0% |
| Amortization Method Qualified Affordable Housing Project Investments, Amortization | $1.76亿 | $1100万 | +1,500.0% | $2.24亿 | $3.08亿 | -27.3% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | – | – | – | 300万 | 300万 | 0.0% |
| Asset Impairment Charges | – | – | – | $1200万 | $6300万 | -81.0% |
| Assets | $1080亿 | $1060亿 | +1.8% | $1050亿 | $1010亿 | +4.2% |
| Assets, Current | $333亿 | $272亿 | +22.3% | $310亿 | $260亿 | +19.4% |
| Assets, Fair Value Disclosure | $61.2亿 | $42.6亿 | +43.8% | $44.5亿 | $39.3亿 | +13.3% |
| Business Combination, Contingent Consideration, Liability | – | – | – | $61.3亿2024-12-31 | $30.2亿 | +103.0% |
| Business Exit Costs | – | – | – | $3200万2023-12-31 | $0 | – |
| Cash and Cash Equivalents, at Carrying Value | $135亿 | $127亿 | +5.7% | $103亿 | $108亿 | -5.2% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $1.05亿 | $8800万 | +19.3% | -$1.84亿 | $2.41亿 | -176.3% |
| Cash, Cash Equivalents, and Short-term Investments | $137亿 | $139亿 | -1.4% | $139亿 | $128亿 | +8.0% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $141亿 | $134亿 | +5.7% | $110亿 | $115亿 | -4.2% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $9.24亿 | $31.6亿 | -70.8% | -$4.78亿 | $18亿 | -126.6% |
| Commercial Paper | $2.5亿2026-04-03 | $50.5亿 | -95.0% | $15亿 | $11.4亿 | +31.3% |
| Common Stock, Dividends, Per Share, Cash Paid | $0.53 | $0.51 | +3.9% | $2.04 | $1.94 | +5.2% |
| Common Stock, Par or Stated Value Per Share | $0.25 | $0.25 | 0.0% | $0.25 | $0.25 | 0.0% |
| Common Stock, Shares Authorized | 112亿 | 112亿 | 0.0% | 112亿 | 112亿 | 0.0% |
| Common Stock, Shares, Issued | 70.4亿 | 70.4亿 | 0.0% | 70.4亿 | 70.4亿 | 0.0% |
| Common Stock, Value, Issued | $17.6亿 | $17.6亿 | 0.0% | $17.6亿 | $17.6亿 | 0.0% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $0 | -$2.14亿 | +100.0% | -$4200万 | $900万 | -566.7% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $35.5亿 | $45亿 | -21.3% | $158亿 | $80.6亿 | +96.2% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $35.5亿 | $42.9亿 | -17.3% | $158亿 | $80.7亿 | +95.5% |
| Cost of Goods and Services Sold | $49.3亿 | $48亿 | +2.8% | $184亿 | $183亿 | +0.4% |
| Current Federal Tax Expense (Benefit) | – | – | – | $8600万 | $3.24亿 | -73.5% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $20.8亿 | $19.8亿 | +5.0% |
| Current Income Tax Expense (Benefit) | – | – | – | $23.4亿 | $24.5亿 | -4.2% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $1.78亿 | $1.43亿 | +24.5% |
| Debt and Equity Securities, Gain (Loss) | $3700万 | $1.51亿 | -75.5% | $4.09亿 | $2.9亿 | +41.0% |
| Debt Securities | $27.2亿 | $18.1亿 | +50.6% | $18.2亿 | $16.8亿 | +8.8% |
| Debt Securities, Available-for-sale | $26.7亿 | $17.6亿 | +52.2% | $17.7亿 | $16.3亿 | +8.8% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $1800万 | $2300万 | -21.7% | $2300万 | $2100万 | +9.5% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $7700万 | $7400万 | +4.1% | $6500万 | $1.18亿 | -44.9% |
| Debt Securities, Available-for-sale, Amortized Cost | $27.3亿 | $18.1亿 | +51.1% | $18.2亿 | $17.3亿 | +5.1% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 10 | $1.83亿 | $1.75亿 | +4.6% | $1.79亿 | $1.77亿 | +1.1% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $3300万 | $4100万 | -19.5% | $3800万 | $3500万 | +8.6% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $16.4亿 | $11.9亿 | +37.9% | $11.8亿 | $12.2亿 | -2.9% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $8.8亿 | $4.05亿 | +117.3% | $4.17亿 | $2.99亿 | +39.5% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 10 | $1.68亿 | $1.63亿 | +3.1% | $1.66亿 | $1.61亿 | +3.1% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year 5 Through 10 | $3400万 | $4700万 | -27.7% | $4600万 | $4200万 | +9.5% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five | $16.1亿 | $11.5亿 | +40.1% | $11.5亿 | $11.3亿 | +1.3% |
| Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One | $8.63亿 | $3.99亿 | +116.3% | $4.15亿 | $2.96亿 | +40.2% |
| Debt Securities, Available-for-sale, Realized Gain | $100万 | $0 | – | $400万 | $1400万 | -71.4% |
| Debt Securities, Available-for-sale, Realized Loss | $200万 | $100万 | +100.0% | $600万 | $1200万 | -50.0% |
| Debt Securities, Trading | $4600万 | $4900万 | -6.1% | $5000万 | $4500万 | +11.1% |
| Debt Securities, Trading, Amortized Cost | $4700万 | $4800万 | -2.1% | $4900万 | $4500万 | +8.9% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-10-02, 10-Q 2026-07-03, 10-Q 2026-04-03, 10-K 2025-12-31, 10-Q 2025-09-26, 10-Q 2025-06-27, 10-Q 2025-03-28, 10-K 2024-12-31, 10-Q 2024-09-27
数据截至 2026-11-01