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Largest Coca-Cola bottler in the United States, manufacturing and distributing Coca-Cola beverages under franchise agreements.
Largest Coca-Cola bottler in the United States, manufacturing and distributing Coca-Cola beverages under franchise agreements.
Buys syrup and concentrate from The Coca-Cola Company and earns by bottling, delivering and merchandising the drinks to stores and restaurants, not by owning the brands. It reached its present size by taking over territories from Coca-Cola's own bottling arm in 2013-2017. J. Frank Harrison III controls the votes through Class B shares, and Coca-Cola Company holds a significant stake.
Moat: narrow (distribution, scale, brand). Exclusive territorial US bottling rights for Coca-Cola brands create a durable regional franchise.
Headquarters: Charlotte, North Carolina, US · Founded: 1902 · Employees: 17,000
Size Coca-Cola Consolidated (COKE) is a United States Consumer Staples company (Beverages: Non-Alcoholic) with a market value of $13.8B, the 639th largest of 3,117 United States companies the cockpit tracks. Shares closed at $207.89 on 6 Nov 2026.
Performance Over six months the shares gained 19.3%, against +7.7% for the median peer and -1.1% for the United States market (cap-weighted) — 5th highest of 17 in its peer set.
Growth Revenue grew 10.7% over the last twelve months (peer median +11.2%); the operating margin is 13.0% (peer median 12.6%).
Valuation It trades at 2.1× enterprise value to sales against a peer median of 1.8× (8th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about -1% a year for seven years (Req g). Recent delivered growth is +8%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 33.3 points above its cost of capital (7.3% WACC).
Credit Coca-Cola Consolidated has 2 bonds outstanding ($1.20B), rated BBB+ by the agencies and trading like A at a weighted spread of 63 bp.
Short interest Short interest is 4.8% of the free float (15 Oct 2026).
Next results Next results expected around 24 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $7.69B | $7.23B | $6.90B | $6.65B | $6.20B |
| Revenue growth | — | +5% | +4% | +7% | — |
| Gross profit | $2.90B | $2.76B | $2.65B | $2.60B | $2.28B |
| EBITDA | $1.23B | $1.17B | $1.12B | $1.01B | $816M |
| Net income | $550M | $571M | $633M | $408M | $430M |
| Free cash flow | $646M | $625M | $510M | $528M | $256M |
| Capital expenditure | $302M | $312M | $371M | $282M | $329M |
| Total debt | $2.62B | $2.91B | $1.91B | $735M | $755M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Coca-Cola Consolidated COKE | $13.8B | +19% | +11% | 13% | 2.1× | -1.3% |
| Coca-Cola Europacific Partners CCEP | $51.0B | +23% | +10% | 14% | 2.5× | 3.9% |
| PepsiCo PEP | $193B | -8% | +6% | 16% | 2.4× | -5.5% |
| Keurig Dr Pepper KDP | $49.8B | +28% | +43% | 17% | 3.7× | 6.3% |
| Primo Brands PRMB | $8.10B | -4% | +28% | 10% | 2.0× | 9.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | COKE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.4% | +11.7% | 6th lowest of 17 |
| 6-month return | +19.3% | +7.7% | 5th highest of 17 |
| Distance from 52-week high | -5.5% | -8.2% | 6th highest of 17 |
| Revenue growth (TTM) | +10.7% | +11.2% | 9th highest of 17 |
| Operating margin | 13.0% | 12.6% | 9th highest of 17 |
| EV / Sales | 2.1× | 1.8× | 8th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | -1.3% | 3.7% | 7th least demanding of 17 |
| Growth delivered (Del g) | +7.6% | +11.3% | 7th lowest of 17 |
| Hurdle (Req g minus delivered) | -8.9 pp | -14.5 pp | 7th most demanding of 17 |
| ROIC minus cost of capital | +33.3 pp | +5.8 pp | 3rd highest of 17 |
| EV / EBITDA | 13.3× | 10.3× | 7th most expensive of 16 |
| Net debt / EBITDA | 2.0× | 1.2× | 6th most indebted of 16 |
| Bond spread | 63 bp | 91 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Coca-Cola Consolidated COKE | United States | $13.8B | +19% | +11% | 13% | 2.1× | -1.3% | +7.6% |
| Varun Beverages VBL.NS | India | $15.7B | -14% | +22% | 17% | 5.7× | 37.2% | +26.8% |
| Eastroc Beverage (Group) 9980.HK | Hong Kong | $11.7B | -40% | +18% | 26% | 2.9× | 3.2% | +32.2% |
| Swire Pacific 0019.HK | Hong Kong | $17.0B | +23% | +7% | 12% | 2.8× | 6.9% | +2.9% |
| Tingyi 0322.HK | Hong Kong | $9.59B | +17% | +4% | 9% | 0.9× | -12.9% | +2.4% |
| Suntory Beverage & Food 2587.T | Japan | $9.58B | +9% | +7% | 9% | 0.8× | -7.5% | +7.8% |
| Coca-Cola HBC CCH.L | United Kingdom | $20.5B | -2% | +13% | 11% | 1.6× | 4.9% | +12.8% |
| Celsius CELH | United States | $8.14B | 0% | +83% | 19% | 3.3× | 7.6% | +80.7% |
| Primo Brands PRMB | United States | $8.10B | -4% | +28% | 10% | 2.0× | 9.2% | +27.8% |
| Fomento Economico Mexicano SAB de CV Sponsored ADR FMX | United States | $26.1B | +7% | +18% | 9% | 0.9× | -6.9% | +13.8% |
| Coca-Cola FEMSA SAB de CV Sponsored ADR KOF | United States | $6.01B | +8% | +17% | 14% | 0.5× | -20.1% | +12.2% |
| Coca-Cola Bottlers Japan 2579.T | Japan | $4.60B | +31% | -2% | 4% | 0.9× | 8.4% | +2.4% |
| Uni-President China 0220.HK | Hong Kong | $4.56B | +12% | +4% | 8% | 0.8× | -8.3% | +6.1% |
| Embotelladora Andina S.A. Sponsored ADR Pfd AKO-B | United States | $4.26B | +7% | +10% | 13% | 1.3× | -4.2% | +10.4% |
| Keurig Dr Pepper KDP | United States | $49.8B | +28% | +43% | 17% | 3.7× | 6.3% | +7.4% |
| Coca-Cola Europacific Partners CCEP | United States | $51.0B | +23% | +10% | 14% | 2.5× | 3.9% | +14.3% |
| National Beverage FIZZ | United States | $3.48B | +6% | -2% | 18% | 2.9× | 3.4% | +1.9% |
Coca-Cola Consolidated has 2 bonds outstanding with $1.20B face value. The agencies rate it BBB+; its bonds trade like A. Weighted yield 5.23%, a spread of 63 bp over government bonds.