Coca Cola (KO) Operating Margin (2009 - 2026)
Coca Cola (KO) posted quarterly Operating Margin of 34.92% for Q3 2026, up 77.0% year-over-year from 19.73% in Q3 2025, and little changed quarter-over-quarter from 34.95% in Q2 2026.
Coca Cola (KO) Operating Margin (2009 - 2026) Analysis & Trends
Coca Cola's Operating Margin history runs 18 years deep, the most recent figure standing at 34.92% for Q3 2026.
- In Q3 2026, Operating Margin rose 77.0% year-over-year to 34.92%; the TTM figure through Jul 2026 stood at 29.63% (up 167.0% YoY), while the FY2025 annual figure was 28.71%, up 747.0% from the prior year.
- Operating Margin for Q3 2026 stood at 34.92%, roughly flat from 34.95% in the prior quarter.
- The five-year high for Operating Margin was 34.95% in Q2 2026, with the low at 15.57% in Q4 2025.
- The 5-year median for Operating Margin is 25.41% (2023), against an average of 26.1%.
- The sharpest annual moves came in 2024 and 2025: Operating Margin tumbled 1172 bps in 2024, then jumped 1393 bps in 2025.
- Coca Cola's Operating Margin stood at 20.49% in 2022, then gained by 2 bps to 20.95% in 2023, then rose by 12 bps to 23.47% in 2024, then sank by 34 bps to 15.57% in 2025, then soared by 124 bps to 34.92% in 2026.
- Business Quant data shows KO's Operating Margin at 34.92% in Q3 2026, 34.95% in Q2 2026, and 15.57% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola Femsa Sab De Cv | 1,820.28 Bn | 1,820.28 Bn | 2.06 Bn | 13.21% |
| 2 | Coca Cola | 373.67 Bn | 359.51 Bn | 8.42 Bn | 34.92% |
| 3 | Pepsico | 188.19 Bn | 177.48 Bn | 13.11 Bn | 16.64% |
| 4 | Coca-Cola Europacific Partners | 48.33 Bn | 47.16 Bn | - | - |
| 5 | Monster Beverage | 44.91 Bn | 41.49 Bn | 1.42 Bn | 29.18% |
| 6 | Keurig Dr Pepper | 39.64 Bn | 38.74 Bn | 2.10 Bn | 19.01% |
| 7 | Andina Bottling | 21.78 Bn | 21.78 Bn | 319.18 Bn | 66.47% |
| 8 | Coca-Cola Consolidated | 10.31 Bn | 10.14 Bn | 778.41 Mn | 13.22% |
| 9 | Primo Brands | 8.54 Bn | 8.17 Bn | 548.70 Mn | 10.04% |
| 10 | Celsius Holdings | 6.94 Bn | 6.31 Bn | 393.69 Mn | 9.20% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jul 3, 2026 | 34.92% |
| Apr 3, 2026 | 34.95% |
| Dec 31, 2025 | 15.57% |
| Sep 26, 2025 | 31.97% |
| Jun 27, 2025 | 34.14% |
| Mar 28, 2025 | 32.88% |
| Dec 31, 2024 | 23.47% |
| Sep 27, 2024 | 21.17% |
| Jun 28, 2024 | 21.29% |
| Mar 29, 2024 | 18.95% |
| Dec 31, 2023 | 20.95% |
| Sep 29, 2023 | 27.36% |
| Jun 30, 2023 | 20.06% |
| Mar 31, 2023 | 30.66% |
| Dec 31, 2022 | 20.49% |
| Sep 30, 2022 | 27.91% |
| Jul 1, 2022 | 20.67% |
| Apr 1, 2022 | 32.46% |
| Dec 31, 2021 | 17.67% |
| Oct 1, 2021 | 28.86% |