Coca-cola Company (the) · NYSE:KO

Coca-cola Company (the) — Q4 2025 Earnings Presentation

8 slides from Coca-cola Company (the)'s earnings presentation, Feb 10, 2026

  1. Slide 1: Q4 & FY 2025 Margin Analysis

    Q4 & FY 2025 MARGIN ANALYSIS February 10, 2026 RECONCILIATION TO U.S. GAAP FINANCIAL INFORMATION The following presentation includes certain "non-GAAP financial measures" as defined in Regulation G under the Securities Exchange Act of 1934. A schedule which reconciles our results as reported under G

  2. Slide 2: Q4 2025 Margin Analysis: Consolidated Gross Margin

    Q4 2025 MARGIN ANALYSIS CONSOLIDATED GROSS MARGIN KEY TAKEAWAYS • Items impacting comparability primarily relate to economic hedging activities. • Underlying gross margin expanded ~120bps ~(100bps) by ~120 bps, driven by organic 60.0% ~(60bps) ~30bps ~10bps 60.0% revenue growth. 60.0% 59.4% • The ac

  3. Slide 3: FY 2025 Margin Analysis: Consolidated Gross Margin

    FY 2025 MARGIN ANALYSIS CONSOLIDATED GROSS MARGIN KEY TAKEAWAYS • Items impacting comparability primarily relate to economic hedging activities. ~110bps ~(90bps) • Underlying gross margin expanded ~20bps 61.5% ~20bps 61.6% by ~110 bps, driven by organic 61.1% ~0bps 61.1% revenue growth, partially of

  4. Slide 4: Q4 2025 Margin Analysis: Consolidated Operating Margin

    Q4 2025 MARGIN ANALYSIS CONSOLIDATED OPERATING MARGIN KEY TAKEAWAYS • Items impacting comparability primarily relate to the impairment of the BODYARMOR® trademark and economic hedging activities. • Underlying operating margin ~210bps ~(170bps) expanded by ~210 bps, primarily driven by organic revenu

  5. Slide 5: FY 2025 Margin Analysis: Consolidated Operating Margin

    FY 2025 MARGIN ANALYSIS CONSOLIDATED OPERATING MARGIN KEY TAKEAWAYS • Items impacting comparability primarily relate to charges for the remeasurement of the fairlife contingent consideration liability in the prior year, the impairment of ~250bps ~(140bps) ~10bps 31.2% ~(250bps) the BODYARMOR® tradem

  6. Slide 6: Appendix: Reconciliations of GAAP and Non-GAAP Financial Measures

    APPENDIX RECONCILIATIONS OF GAAP AND NON-GAAP FINANCIAL MEASURES

  7. Slide 7: Reconciliation of GAAP and Non-GAAP Financial Measures: Gross Margin

    THE COCA-COLA COMPANY AND SUBSIDIARIES Reconciliation of GAAP and Non-GAAP Financial Measures (UNAUDITED) Gross Margin: Three Months Ended Three Months Ended Basis Point December 31, 2025 December 31, 2024 Growth Reported Gross Margin (GAAP) 60.05% 60.04% 1 Items Impacting Comparability (Non-GAAP) 0

  8. Slide 8: Reconciliation of GAAP and Non-GAAP Financial Measures: Operating Margin

    THE COCA-COLA COMPANY AND SUBSIDIARIES Reconciliation of GAAP and Non-GAAP Financial Measures (UNAUDITED) Operating Margin: Three Months Ended Three Months Ended Basis Point December 31, 2025 December 31, 2024 Growth (Decline) Reported Operating Margin (GAAP) 15.57% 23.47% (790) Items Impacting Comp

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