Coca-Cola (KO) FY2023 results: revenue $45.8 billion, up 6.4% on the year
Coca-Cola Co. (KO) reported revenue of $45.8 billion for fiscal 2023, the year ended 31 December 2023, up 6.4% on the year before. Net income was $10.7 billion, up 12.3%, and diluted earnings per share $2.47. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2024.
Revenue
$45.8 billion
+6.4% on the year
FY2016FY2023
Operating margin
24.7%
25.4% a year earlier
FY2016FY2023
Net income
$10.7 billion
+12.3% on the year
FY2016FY2023
Diluted EPS
$2.47
+12.8% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
11,599
11,018
12,625
+5.3%
Capital expenditure
1,852
1,484
1,367
+24.8%
Free cash flow
9,747
9,534
11,258
+2.2%
Free cash flow margin
21.3%
22.2%
29.1%
Cash from investing
-3,349
-763
-2,765
Cash from financing
-8,310
-10,250
-6,786
Depreciation and amortisation
1,128
1,260
1,452
-10.5%
Share-based compensation
254
356
337
-28.7%
Buybacks
2,289
1,418
111
+61.4%
Dividends paid
7,952
7,616
7,252
+4.4%
Dividend per share
$1.84
$1.76
$1.68
+4.5%
Diluted shares, weighted
4,339m
4,350m
4,340m
-0.3%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
25,941
24,105
22,999
+7.6%
Non-controlling interest
1,539
1,721
1,861
-10.6%
Debt
42,064
39,149
42,761
+7.4%
Operating lease liabilities
1,001
1,113
1,161
-10.1%
Other liabilities
27,158
26,675
25,572
+1.8%
Total liabilities and equity
97,703
92,763
94,354
+5.3%
Fixed assets
9,236
9,841
9,920
-6.1%
Goodwill
18,358
18,782
19,363
-2.3%
Intangible assets
355
460
574
-22.8%
Securities held for sale or to maturity
1,134
944
1,549
+20.1%
Cash and equivalents
9,366
9,519
9,684
-1.6%
Receivables
3,410
3,487
3,512
-2.2%
Inventory
4,424
4,233
3,414
+4.5%
Other assets
51,420
45,497
46,338
+13.0%
Total assets
97,703
92,763
94,354
+5.3%
10-K for the year ended 31 December 2023, filed 20 February 2024: the filing.