Coca Cola (KO) Operating Margin (2009 - 2026)
Coca Cola (KO) recorded quarterly Operating Margin of 34.95% in Q2 2026, up 124.43% quarter-over-quarter from 15.57% in Q4 2025, and up 207.0% on a YoY basis from 11.38% in Q2 2025.
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 34.95% for Q2 2026.
- In Q2 2026, Operating Margin rose 207.0% year-over-year to 34.95%; the TTM figure through Apr 2026 stood at 29.34% (up 480.0% YoY), while the FY2025 annual figure was 28.71%, up 747.0% from the prior year.
- Operating Margin was 34.95% for Q2 2026 at Coca Cola, up from 15.57% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 34.95% in Q2 2026 to a low of 15.57% in Q4 2025.
- Historically, Operating Margin has averaged 25.59% across 5 years, with a median of 23.47% in 2024.
- The sharpest annual moves came in 2024 and 2025: Operating Margin plunged 1172 bps in 2024, then surged 1393 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 20.49% in 2022, then advanced by 2 bps to 20.95% in 2023, then gained by 12 bps to 23.47% in 2024, then slumped by 34 bps to 15.57% in 2025, then jumped by 124 bps to 34.95% in 2026.
- The last three Operating Margin figures came in at 34.95% (Q2 2026), 15.57% (Q4 2025), and 31.97% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola | 341.39 Bn | 332.40 Bn | 7.85 Bn | 34.95% |
| 2 | Pepsico | 194.25 Bn | 183.58 Bn | 10.73 Bn | 16.53% |
| 3 | Monster Beverage | 89.38 Bn | 86.39 Bn | 1.29 Bn | 31.02% |
| 4 | Coca Cola Femsa Sab De Cv | 87.89 Bn | 86.38 Bn | 1.89 Bn | 12.73% |
| 5 | Keurig Dr Pepper | 41.86 Bn | 27.96 Bn | 2.10 Bn | 19.01% |
| 6 | Coca-Cola Consolidated | 10.27 Bn | 10.04 Bn | 727.08 Mn | 12.86% |
| 7 | Primo Brands | 8.82 Bn | 8.54 Bn | 464.90 Mn | 8.49% |
| 8 | Celsius Holdings | 7.92 Bn | 7.37 Bn | 378.07 Mn | 17.76% |
| 9 | Vita Coco Company | 4.80 Bn | 4.59 Bn | 71.81 Mn | 18.68% |
| 10 | National Beverage | 3.40 Bn | 3.09 Bn | 99.60 Mn | 19.33% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |
| Jul 2, 2021 | 29.78% |