# Coca-Cola (KO) Forecast Calculator

Interactive five-year financial forecast and DCF for Coca-Cola. Adjust revenue growth, margins, capex, and WACC to update revenue, free cash flow, and enterprise value.

- Canonical: https://finamodel.com/companies/coca-cola/forecast
- Industry: Staples
- Forecast start year: 2026

## Historical data

| Year | Revenue | Free cash flow | EBITDA | Net income |
|---:|---:|---:|---:|---:|
| 2021 | 37266000000 | 8417000000 | 11451000000 | 8920000000 |
| 2022 | 33014000000 | 8667000000 | 10533000000 | 7747000000 |
| 2023 | 38655000000 | 11258000000 | 11760000000 | 9771000000 |
| 2024 | 43004000000 | 9534000000 | 12169000000 | 9542000000 |
| 2025 | 45754000000 | 9747000000 | 12439000000 | 10714000000 |

## Frequently asked questions

### How does The Coca-Cola Company's business model generate revenue?

The Coca-Cola Company primarily operates through an asset-light franchise model, selling beverage concentrate and syrups to independent bottling partners. These partners then manufacture, package, and distribute the finished products to retail customers globally.

### What are the key drivers of revenue for Coca-Cola's geographic segments?

Revenue for Coca-Cola's geographic segments is driven by unit case volume, the price/mix factor, and foreign exchange impact. Growth levers include premiumisation of the portfolio and smaller pack sizes, which drive higher revenue per case.

### What is the assumed revenue growth rate in the financial model for The Coca-Cola Company?

The financial model for The Coca-Cola Company assumes a revenue growth rate of approximately 5.26%. This assumption is a key input for forecasting future financial performance.

### What is Coca-Cola's typical capital expenditure as a percentage of revenue, and what does it cover?

Coca-Cola's capital expenditure is typically around 4.02% of revenue annually, amounting to approximately $1.5 billion to $2.0 billion. Roughly 60% of this is for maintenance, covering items like fountain equipment and IT, while 40% is for growth initiatives such as supply chain optimisation and new product lines.

### How does Coca-Cola's working capital profile affect its cash flow?

The Coca-Cola Company consistently operates with negative net working capital, meaning it collects cash from bottlers faster than it pays suppliers. This dynamic provides a consistent source of cash during growth phases, enhancing its free cash flow generation.

### Is there a downloadable Excel financial model available for The Coca-Cola Company (KO)?

Yes, a comprehensive Excel financial model for The Coca-Cola Company (KO) is available for download. This model serves as an equity valuation and scenario planning tool for analysts.