Coca Cola (KO) Operating Margin (2009 - 2026)
Coca Cola (KO) recorded Operating Margin of 34.92% in Q2 2026, up 0.77 percentage points from 34.14% a year earlier but down 0.03 percentage points from the prior quarter.
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Analysis
Coca Cola (KO) Operating Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Coca Cola's Operating Margin came in at 29.63% as of Jul 3, 2026, up 1.67 percentage points year-over-year; for FY2025, it came in at 28.71%, up 7.47 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +1.45 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 21.23% in FY2024 (-3.49 pp), 24.72% in FY2023 (-0.65 pp), 25.37% in FY2022 (-1.30 pp) and 26.67% in FY2021 (-0.59 pp).
- Quarterly Operating Margin has ranged from 15.57% in Q4 2025 to 34.95% in Q1 2026 over the past five years.
- On a year-over-year basis, Operating Margin rose in six of the last eight quarters, with an average year-over-year change of +3.61 percentage points.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 13.93 percentage points in Q1 2025, against a drop of 11.72 percentage points in Q1 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at 34.95% (Q1 2026), 15.57% (Q4 2025) and 31.97% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola | 394.76 Bn | 381.23 Bn | 8.42 Bn | 34.92% |
| 2 | Coca Cola Femsa Sab De Cv | 193.90 Bn | 193.90 Bn | 2.06 Bn | 13.96% |
| 3 | Pepsico | 175.24 Bn | 133.00 Bn | 13.75 Bn | 16.86% |
| 4 | Monster Beverage | 88.77 Bn | 77.03 Bn | 1.42 Bn | 29.18% |
| 5 | Diageo | 52.19 Bn | 32.26 Bn | - | - |
| 6 | Ambev | 50.68 Bn | 35.97 Bn | 2.06 Bn | 23.89% |
| 7 | Coca-Cola Europacific Partners | 50.06 Bn | 42.72 Bn | - | - |
| 8 | Keurig Dr Pepper | 46.50 Bn | 42.54 Bn | 3.07 Bn | 8.59% |
| 9 | Constellation Brands | 22.07 Bn | 21.62 Bn | 1.39 Bn | 28.58% |
| 10 | Coca-Cola Consolidated | 13.60 Bn | 11.23 Bn | 778.41 Mn | 13.22% |
Historic Data
Download Data
Historic 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% |
API Access
Coca Cola Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=KO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "KO", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=KO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();