COKE Coca-Cola Consolidated, Inc.

Overview and Growth

In fiscal 2025, Coca-Cola Consolidated, Inc. recorded $7.23B of revenue, net income of $570.58M, and an operating cash inflow of $931.90M. At $7.23B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 4.8% from $6.90B in fiscal 2024, increasing the company’s operating scale. Revenue equaled 1.68x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $2.87B, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 39.7%, so that share of each revenue unit remained after the cost of revenue reported for the period. Operating income was $950.66M, the earnings remaining from reported operations after the company’s recognized operating cost structure. Relative to revenue, operating income represented 13.2%, showing how efficiently sales converted into operating profit. Net income came to $570.58M, completing the progression from revenue through gross and operating profitability to the final reported result. Net margin was 7.9%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $772.92M of earnings, providing a bridge between the operating result and final net income. The pretax margin was 10.7%, relating income before taxes directly to revenue. The reported income-tax provision was $202.34M, the amount recognized between pretax income and the final net-income result. Relative to pretax income, the tax provision measured 26.2%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

The company held $4.30B of assets against $5.04B of liabilities and -$739.72M of equity, revealing how the asset base was financed. Equity was negative at -$739.72M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. At period end, current assets of $1.43B compared with current liabilities of $1.13B, defining the company’s short-term resource position. At 1.26x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $281.92M, separating immediately recognizable cash resources from the rest of the current-asset base. Cash and equivalents represented 25.0% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. The company carried $2.79B of total debt at period end, which frames its leverage and debt-service burden. Relative to total assets, debt measured 64.7%, showing how much of the asset base was matched by borrowing. Liabilities represented 117.2% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 6.6% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 19.0% lower than fiscal 2024 assets of $5.31B, measuring the company’s own balance-sheet change.

Cash Flow and Earnings Quality

The company reported $931.90M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 1.63x, showing the relationship between accrual earnings and operating cash. The cash-flow statement records $312.31M of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 33.5% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $619.59M, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 8.6%, measuring cash remaining after capital spending against revenue. Free cash flow equaled 14.4% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.