greeksoup/ stocks
Stocks / United States / KO / Q4 FY2023

Coca-Cola Co. Q4 FY2023 results: revenue $10.8 billion, up 7.2% on the year

Coca-Cola Co. (KO) reported revenue of $10.8 billion for Q4 FY2023, the quarter ended 31 December 2023, up 7.2% on the same quarter a year earlier. Net income was $2.0 billion, down 2.9% on the year, and diluted earnings per share $0.45. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.

Revenue$10.8 billionup 7.2%
Net income$2.0 billiondown 2.9%
Diluted EPS$0.45
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue10,84911,953n/an/a
Cost of revenue4,6344,657n/an/a
Gross profit6,2157,296n/an/a
Gross margin57.3%61.0%n/a
Selling, general and administrative3,7993,667n/an/a
Operating income2,2733,270n/an/a
Operating margin21.0%27.4%n/a
Interest expense413368n/an/a
Pre-tax income2,4823,537n/an/a
Income tax496454n/an/a
Effective tax rate20.0%12.8%n/a
Net income1,9733,087n/an/a
Net margin18.2%25.8%n/a
Diluted EPS$0.45$0.71n/an/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow2,6704,300n/an/a
Capital expenditure851386n/an/a
Free cash flow1,8193,914n/an/a
Free cash flow margin16.8%32.7%n/a
Depreciation and amortisation271290n/an/a
Share-based compensation77.057.0n/an/a
Buybacks1,096109n/an/a
Dividends paid3,8741,989n/an/a
Dividend per sharen/a$0.46n/an/a
Diluted shares, weighted4,339m4,339mn/an/a
Shares outstanding at period end4,312m4,323mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Total assets97,70397,578n/an/a
Cash and equivalents9,36611,883n/an/a
Receivables3,4103,495n/an/a
Inventory4,4244,252n/an/a
Goodwill18,35818,144n/an/a
Long-term debt37,50736,256n/an/a
Long-term debt including finance leases35,547n/an/an/a
Operating lease liabilities1,001n/an/an/a
Shareholders' equity25,94126,325n/an/a

Quarterly results, the last 12 quarters

Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026
Revenue11,97211,95310,84911,30012,36311,85411,54411,12912,53512,45511,82212,472
Cost of revenue4,9124,6574,6344,2354,8124,6644,6134,1634,7144,7974,7234,620
Gross profit7,0607,2966,2157,0657,5517,1906,9316,9667,8217,6587,0997,852
Gross margin59%61%57%63%61%61%60%63%62%61%60%63%
SG&A3,3213,6673,7993,3513,5493,6364,0463,2343,4703,6184,1993,472
Operating income2,4013,2702,2732,1412,6322,5102,7093,6594,2803,9821,8414,359
Operating margin20%27%21%19%21%21%23%33%34%32%16%35%
Interest expense374368413382418425431387445391431375
Pre-tax income2,8803,5372,4823,8723,0283,3802,8064,0574,7964,1832,9624,611
Tax rate12%13%20%18%21%16%21%18%21%12%22%14%
Net income2,5473,0871,9733,1772,4112,8482,1953,3303,8103,6962,2713,924
Net margin21%26%18%28%20%24%19%30%30%30%19%31%
Diluted EPS$0.59$0.71$0.45$0.74$0.56$0.66$0.50$0.77$0.88$0.86$0.53$0.91
Operating cash flow4,4694,3002,6705283,585-1,2593,951-5,2023,8115,0433,7562,021
Capital expenditure339386851370422469803309442479882266
Free cash flow4,1303,9141,8191583,163-1,7283,148-5,5113,3694,5642,8741,755
Buybacks2361091,096702172354567370102172102477
Dividends paid1,9881,9893,87499.02,0852,0904,08589.02,1942,1084,3882,281
Shares outstanding4,324m4,323m4,312m4,308m4,310m4,308m4,301m4,304m4,304m4,302m4,301m4,302m
Filing10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 20 February 2024, accession 0000021344-24-000009: the filing on EDGAR. All of Coca-Cola Co.'s filings: EDGAR company page.

The same record on your computer

GreekSoup is also a free program for your own computer. It reads these same filings for the names you follow, refreshed as they land, with no account. One pasted line installs it.

Install