Coca-Cola Consolidated, Inc. (COKE) Balance Sheet
COKE balance sheet, 2025
December 31, 2025 · U.S. dollars$4.62B assets = $5.36B liabilities + −$739.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$739.7M).
Both columns are drawn to the same scale: what COKE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
COKE financial health
Descriptive bands, not a rating. Fiscal 2025.
COKE balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.45B2016 | $4.62B2025 | +7.3%/yr | |
| Total liabilities | $2.09B2016 | $5.36B2025 | +11.1%/yr | |
| Shareholders’ equity | $277.1M2016 | −$739.7M2025 | — | |
| Cash & short-term investments | $21.9M2016 | $281.9M2025 | +32.9%/yr | |
| Total debt | $975.3M2016 | $3.00B2025 | +13.3%/yr | |
| Net cash (debt) | −$953.5M2016 | −$2.72B2025 | −$1.8B | |
| Working capital | $135.9M2016 | $298.0M2025 | +$162.1M | |
| Book value per share | $2.962016 | −$8.832025 | — | |
| Current ratio | 1.302016 | 1.262025 | −0.03 | |
| Debt / equity | 3.522016 | 1.352024 | −2.17 | |
| Shares outstanding | 93.5M2016 | 83.8M2025 | −1.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
COKE assets
COKE liabilities and equity
COKE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
COKE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $281.9M | $1.44B | $635.3M | $197.6M | $142.3M | $54.8M | $9.6M | $13.5M | $16.9M | $21.9M |
| Cash & equivalents | $281.9M | $1.14B | $635.3M | $197.6M | $142.3M | $54.8M | $9.6M | $13.5M | $16.9M | $21.9M |
| Short-term investments | $0 | $301.2M | $0 | — | — | — | — | — | $4.4M | $0 |
| Receivables | $699.7M | $683.5M | $659.3M | $606.3M | $546.5M | $490.1M | $529.6M | $509.8M | $529.3M | $297.0M |
| Inventory | $336.4M | $330.4M | $321.9M | $347.5M | $302.9M | $225.8M | $225.9M | $210.0M | $183.6M | $143.6M |
| Other current assets | $108.7M | $96.3M | $88.6M | $94.3M | $84.9M | $80.6M | $65.1M | $64.0M | $64.7M | $131.4M |
| Total current assets | $1.43B | $2.55B | $1.71B | $1.25B | $1.08B | $851.2M | $830.3M | $797.4M | $794.5M | $593.8M |
| Property, plant & equipment (net) | $1.72B | $1.62B | $1.45B | $1.33B | $1.23B | $1.23B | $1.13B | $1.01B | $1.06B | $846.5M |
| Goodwill & intangible assets | $937.5M | $964.0M | $990.5M | $1.02B | $1.01B | $1.03B | $1.06B | $1.08B | $1.10B | $923.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $41.9M | $39.8M | $7.3M | $0 |
| Other non-current assets | $536.9M | $181.0M | $145.2M | $115.9M | $120.5M | $111.8M | $71.4M | $75.7M | $108.9M | $86.1M |
| Total assets | $4.62B | $5.31B | $4.29B | $3.71B | $3.45B | $3.22B | $3.13B | $3.01B | $3.07B | $2.45B |
| Liabilities | ||||||||||
| Accounts payable | $541.6M | $334.9M | $383.6M | $351.7M | $319.3M | $217.6M | $187.5M | $152.0M | $197.0M | $116.8M |
| Short-term debt | $125.0M | $375.6M | $28.7M | $29.9M | $28.1M | $28.4M | $44.6M | $81.3M | $45.5M | $26.9M |
| Deferred revenue | — | — | — | $150.2M | — | — | −$1.2M | −$10.3M | $2.3M | −$333.6M |
| Total current liabilities | $1.13B | $1.31B | $1.09B | $905.2M | $834.9M | $647.1M | $622.2M | $601.7M | $639.5M | $457.9M |
| Long-term debt | $2.69B | $1.44B | $599.2M | $598.8M | $723.4M | $940.5M | $1.03B | $1.13B | $1.12B | $948.4M |
| Lease obligations | $121.2M | $120.7M | $136.0M | $156.2M | $215.2M | $215.5M | $139.6M | $26.6M | $35.2M | $41.2M |
| Other long-term liabilities | $1.55B | $1.15B | $1.16B | $1.09B | $1.18B | $1.12B | $1.02B | $822.0M | $851.3M | $680.1M |
| Total liabilities | $5.36B | $3.90B | $2.85B | $2.59B | $2.73B | $2.71B | $2.68B | $2.55B | $2.61B | $2.09B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $66.6M | $12.5M | $13.1M | $13.1M | $13.1M | $13.1M | $13.1M | $13.0M | $133.4M | $129.8M |
| Retained earnings (deficit) | −$824.0M | $1.40B | $1.35B | $1.11B | $724.5M | $544.3M | $381.2M | $359.4M | $388.7M | $301.5M |
| Treasury stock | — | — | — | — | −$61.3M | −$61.3M | −$61.3M | −$61.3M | −$61.3M | −$61.3M |
| Accumulated other comprehensive income | −$6.0M | $1.9M | −$4.3M | −$84.8M | −$100.5M | −$119.1M | −$115.0M | −$77.3M | −$94.2M | −$92.9M |
| Minority interest | — | — | — | — | — | — | $104.2M | $97.0M | $92.2M | $85.9M |
| Total shareholders' equity | −$739.7M | $1.42B | $1.44B | $1.12B | $711.8M | $513.0M | $347.0M | $358.2M | $366.7M | $277.1M |
| Key figures | ||||||||||
| Total debt | $3.00B | $1.91B | $735.1M | $755.0M | $938.6M | $1.16B | $1.19B | $1.21B | $1.17B | $975.3M |
| Net cash (debt) | −$2.72B | −$470.0M | −$99.9M | −$557.4M | −$796.3M | −$1.10B | −$1.18B | −$1.20B | −$1.15B | −$953.5M |
| Working capital | $298.0M | $1.23B | $613.8M | $340.6M | $241.8M | $204.2M | $208.1M | $195.7M | $155.1M | $135.9M |
| Tangible book value | −$1.68B | $453.6M | $445.1M | $98.3M | −$301.9M | −$519.5M | −$709.7M | −$724.6M | −$734.3M | −$645.9M |
| Book value per share | −$8.83 | $15.66 | $15.29 | $11.86 | $7.57 | $5.44 | $3.68 | $3.83 | $3.16 | $2.96 |
| Shares outstanding | 83.8M | 90.5M | 93.9M | 94.0M | 94.0M | 94.3M | 94.2M | 93.5M | 116.0M | 93.5M |
| Current ratio | 1.26 | 1.94 | 1.56 | 1.38 | 1.29 | 1.32 | 1.33 | 1.33 | 1.24 | 1.30 |
| Quick ratio | 0.87 | 1.61 | 1.19 | 0.89 | 0.83 | 0.84 | 0.87 | 0.87 | 0.85 | 0.70 |
| Debt / equity | — | 1.35 | 0.51 | 0.68 | 1.32 | 2.26 | 3.43 | 3.38 | 3.19 | 3.52 |
| Equity / assets | −16.0% | 26.7% | 33.5% | 30.1% | 20.7% | 15.9% | 11.1% | 11.9% | 11.9% | 11.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $171.7M | $232.9M | $281.9M | $1.68B | $1.57B | $1.49B | $1.44B | $1.45B | $1.90B | $584.9M | $635.3M | $616.2M |
| Cash & equivalents | $171.7M | $232.9M | $281.9M | $1.53B | $1.22B | $1.15B | $1.14B | $1.24B | $1.70B | $401.3M | $635.3M | $616.2M |
| Short-term investments | — | — | $0 | $149.1M | $350.2M | $340.1M | $301.2M | $215.0M | $198.8M | $183.6M | $0 | — |
| Receivables | $764.6M | $756.9M | $699.7M | $1.44B | $719.1M | $685.1M | $683.5M | $692.0M | $716.8M | $679.3M | $659.3M | $648.5M |
| Inventory | $371.2M | $388.7M | $336.4M | $354.9M | $349.2M | $340.2M | $330.4M | $334.7M | $338.2M | $361.1M | $321.9M | $320.4M |
| Other current assets | $219.2M | $121.8M | $108.7M | $0 | $92.8M | $96.2M | $96.3M | $93.4M | $83.2M | $89.6M | $88.6M | $91.3M |
| Total current assets | $1.53B | $1.50B | $1.43B | $2.85B | $2.73B | $2.61B | $2.55B | $2.57B | $3.04B | $1.71B | $1.71B | $1.68B |
| Property, plant & equipment (net) | $1.75B | $1.74B | $1.72B | $1.67B | $1.66B | $1.65B | $1.62B | $1.56B | $1.48B | $1.44B | $1.45B | $1.33B |
| Goodwill & intangible assets | $924.3M | $930.9M | $937.5M | $376.0M | $950.8M | $957.4M | $964.0M | $970.7M | $977.3M | $983.9M | $990.5M | $997.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $235.8M | $223.3M | $536.9M | $779.5M | $197.6M | $185.5M | $181.0M | $170.3M | $162.3M | $156.1M | $145.2M | $134.0M |
| Total assets | $4.43B | $4.39B | $4.62B | $5.67B | $5.54B | $5.40B | $5.31B | $5.27B | $5.66B | $4.30B | $4.29B | $4.14B |
| Liabilities | ||||||||||||
| Accounts payable | $425.1M | $420.3M | $541.6M | $362.4M | $365.9M | $328.4M | $334.9M | $347.0M | $368.6M | $347.0M | $383.6M | $529.1M |
| Short-term debt | $123.6M | $124.6M | $125.0M | $399.6M | $376.1M | $375.6M | $375.6M | $25.0M | $26.5M | $27.6M | $28.7M | $28.5M |
| Deferred revenue | — | — | — | — | — | — | — | $494.8M | — | — | −$383.6M | −$180.7M |
| Total current liabilities | $1.26B | $1.22B | $1.13B | $1.39B | $1.34B | $1.29B | $1.31B | $1.04B | $1.54B | $917.9M | $1.09B | $907.8M |
| Long-term debt | $2.41B | $2.54B | $2.69B | $1.44B | $1.44B | $1.44B | $1.44B | $1.79B | $1.79B | $599.3M | $599.2M | $599.1M |
| Lease obligations | $110.0M | $115.7M | $121.2M | $128.0M | $114.9M | $115.1M | $120.7M | $113.9M | $122.5M | $129.0M | $136.0M | $137.8M |
| Other long-term liabilities | $1.26B | $1.28B | $1.55B | $1.20B | $1.13B | $1.18B | $1.15B | $1.16B | $1.14B | $1.18B | $1.16B | $1.11B |
| Total liabilities | $4.93B | $5.04B | $5.36B | $4.03B | $3.91B | $3.90B | $3.90B | $3.99B | $4.46B | $2.70B | $2.85B | $2.62B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $66.6M | $66.6M | $66.6M | $85.9M | $124.7M | $12.1M | $12.5M | $12.5M | $13.1M | $13.1M | $13.1M | $13.1M |
| Retained earnings (deficit) | −$587.0M | −$729.1M | −$824.0M | $1.52B | $1.64B | $1.48B | $1.40B | $1.22B | $1.69B | $1.52B | $1.35B | $1.44B |
| Accumulated other comprehensive income | −$3.5M | −$4.7M | −$6.0M | $1.9M | $1.8M | $1.9M | $1.9M | −$4.0M | −$4.4M | −$4.4M | −$4.3M | $938,000 |
| Total shareholders' equity | −$500.1M | −$643.5M | −$739.7M | $1.64B | $1.63B | $1.50B | $1.42B | $1.28B | $1.20B | $1.60B | $1.44B | $1.52B |
| Key figures | ||||||||||||
| Total debt | $2.62B | $2.75B | $3.00B | $2.04B | $1.90B | $1.90B | $1.91B | $1.90B | $1.91B | $728.3M | $735.1M | $736.9M |
| Net cash (debt) | −$2.45B | −$2.52B | −$2.72B | −$361.0M | −$332.4M | −$410.2M | −$470.0M | −$448.6M | −$9.5M | −$143.4M | −$99.9M | −$120.7M |
| Working capital | $266.4M | $285.3M | $298.0M | $1.45B | $1.39B | $1.32B | $1.23B | $1.53B | $1.50B | $797.0M | $613.8M | $768.6M |
| Tangible book value | −$1.42B | −$1.57B | −$1.68B | $1.26B | $679.4M | $542.0M | $453.6M | $314.3M | $217.9M | $617.3M | $445.1M | $527.2M |
| Book value per share | −$7.50 | −$9.66 | −$8.83 | $18.86 | $18.70 | $17.18 | $16.21 | $14.65 | $11.56 | $15.39 | $15.30 | $16.22 |
| Shares outstanding | 66.6M | 66.6M | 83.8M | 86.7M | 87.2M | 87.3M | 87.5M | 87.7M | 103.4M | 104.0M | 93.8M | 94.0M |
| Current ratio | 1.21 | 1.23 | 1.26 | 2.04 | 2.04 | 2.03 | 1.94 | 2.47 | 1.97 | 1.87 | 1.56 | 1.85 |
| Quick ratio | 0.74 | 0.81 | 0.87 | 2.24 | 1.71 | 1.69 | 1.61 | 2.06 | 1.70 | 1.38 | 1.19 | 1.39 |
| Debt / equity | — | — | — | 1.25 | 1.17 | 1.27 | 1.35 | 1.48 | 1.60 | 0.45 | 0.51 | 0.48 |
| Equity / assets | −11.3% | −14.6% | −16.0% | 28.9% | 29.4% | 27.7% | 26.7% | 24.4% | 21.1% | 37.3% | 33.5% | 36.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 18, 2026); data from EODHD.
COKE financial position
At the end of fiscal 2025 (December 31, 2025), Coca-Cola Consolidated had total assets of $4.6 billion (down 13.0% from a year earlier), total liabilities of $5.4 billion and shareholders' equity of -$739.7 million. It held $281.9 million in cash and short-term investments against $3.0 billion of debt, net debt of $2.7 billion. Its current ratio was 1.26. In the latest quarter (ended June 30, 2026) total assets were $4.4 billion and equity -$500.1 million.
Related: COKE income statement, COKE cash flow statement, COKE key metrics. See the COKE stock overview for the latest quote and news.
COKE balance sheet FAQ
What are Coca-Cola Consolidated's total assets?
Coca-Cola Consolidated reported total assets of $4.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $5.3 billion a year earlier.
How much debt does Coca-Cola Consolidated have?
Coca-Cola Consolidated had $3.0 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Coca-Cola Consolidated have?
Coca-Cola Consolidated held $281.9 million in cash and short-term investments at the end of fiscal 2025; with $3.0 billion of debt that is net debt of $2.7 billion.
What is Coca-Cola Consolidated's book value?
Coca-Cola Consolidated's shareholders' equity (book value) was -$739.7 million at the end of fiscal 2025, or −$8.83 per share.
What is Coca-Cola Consolidated's current ratio?
Coca-Cola Consolidated had current assets of $1.4 billion and current liabilities of $1.1 billion, a current ratio of 1.26 (it can cover its short-term obligations).
How much goodwill does Coca-Cola Consolidated have?
Coca-Cola Consolidated carried $937.5 million of goodwill and intangible assets, 20.3% of total assets, at the end of fiscal 2025.