The Coca-Cola Company (KO) Balance Sheet
KO balance sheet, 2025
December 31, 2025 · U.S. dollars$104.82B assets = $70.54B liabilities + $34.27B equity
Both columns are drawn to the same scale: what KO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
KO financial health
Current ratio1.46
Adequate · current assets cover current liabilities 1.46×
Debt / equity1.47
Moderate leverage · $1.47 of debt for each $1 of equity
Equity / assets30.7%
Balanced · of assets funded by shareholders
Cash / debt29.4%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles26.7%
Acquisition-heavy · of total assets
Descriptive bands, not a rating. Fiscal 2025.
KO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $87.27B2016 | $104.82B2025 | +2.1%/yr | |
| Total liabilities | $64.05B2016 | $70.54B2025 | +1.1%/yr | |
| Shareholders’ equity | $23.06B2016 | $32.17B2025 | +3.8%/yr | |
| Cash & short-term investments | $22.20B2016 | $13.87B2025 | −5.1%/yr | |
| Total debt | $45.71B2016 | $47.21B2025 | +0.4%/yr | |
| Net cash (debt) | −$23.51B2016 | −$33.34B2025 | −$9.8B | |
| Working capital | $7.48B2016 | $9.76B2025 | +$2.3B | |
| Book value per share | $5.282016 | $7.462025 | +3.9%/yr | |
| Current ratio | 1.282016 | 1.462025 | +0.18 | |
| Debt / equity | 1.982016 | 1.472025 | −0.51 | |
| Shares outstanding | 4.37B2016 | 4.31B2025 | −0.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
KO assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
KO liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
KO debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
KO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $13.87B | $14.57B | $13.66B | $11.63B | $12.62B | $10.91B | $11.18B | $16.11B | $20.68B | $22.20B |
| Cash & equivalents | $10.27B | $10.83B | $9.37B | $9.52B | $9.68B | $6.79B | $6.48B | $9.08B | $6.01B | $8.55B |
| Short-term investments | $3.60B | $3.74B | $4.30B | $2.11B | $2.94B | $4.12B | $4.70B | $7.04B | $14.67B | $13.65B |
| Receivables | $3.04B | $3.57B | $3.41B | $3.49B | $3.51B | $3.14B | $3.97B | $3.69B | $3.67B | $3.86B |
| Inventory | $4.42B | $4.73B | $4.42B | $4.23B | $3.41B | $3.27B | $3.38B | $3.07B | $2.65B | $2.67B |
| Other current assets | $9.71B | $3.13B | $5.24B | $3.24B | $2.99B | $1.92B | $1.89B | $2.06B | $9.55B | $5.28B |
| Total current assets | $31.04B | $26.00B | $26.73B | $22.59B | $22.55B | $19.24B | $20.41B | $24.93B | $36.55B | $34.01B |
| Property, plant & equipment (net) | $9.61B | $11.48B | $9.24B | $9.84B | $9.92B | $10.78B | $10.84B | $9.60B | $8.20B | $10.63B |
| Goodwill & intangible assets | $28.02B | $31.44B | $33.22B | $33.63B | $34.61B | $28.55B | $26.77B | $21.59B | $16.64B | $21.13B |
| Long-term investments | $20.23B | $18.09B | $19.79B | $18.77B | $18.42B | $19.27B | $19.02B | $19.41B | $20.86B | $16.26B |
| Other non-current assets | $15.90B | $13.54B | $8.72B | $7.93B | $8.86B | $9.46B | $9.34B | $7.69B | $5.66B | $5.24B |
| Total assets | $104.82B | $100.55B | $97.70B | $92.76B | $94.35B | $87.30B | $86.38B | $83.22B | $87.90B | $87.27B |
| Liabilities | ||||||||||
| Accounts payable | $5.65B | $5.47B | $5.59B | $5.31B | $4.60B | $3.52B | $3.80B | $2.72B | $2.29B | $2.68B |
| Short-term debt | $3.69B | $2.44B | $6.88B | $3.11B | $5.26B | $3.31B | $15.53B | $18.84B | $16.50B | $16.02B |
| Deferred revenue | — | — | −$13.92B | — | — | — | — | $5.50B | $410.0M | $307.0M |
| Total current liabilities | $21.28B | $25.25B | $23.57B | $19.72B | $19.95B | $14.60B | $26.97B | $28.78B | $27.19B | $26.53B |
| Long-term debt | $42.12B | $42.38B | $35.55B | $36.38B | $38.12B | $40.12B | $27.52B | $25.36B | $31.18B | $29.68B |
| Other long-term liabilities | $7.14B | $6.55B | $11.11B | $10.84B | $11.43B | $11.29B | $10.79B | $10.01B | $10.54B | $7.83B |
| Total liabilities | $70.54B | $74.18B | $70.22B | $66.94B | $69.49B | $66.01B | $65.28B | $64.16B | $68.92B | $64.05B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $17.62B | $16.75B |
| Retained earnings (deficit) | $80.38B | $76.05B | $73.78B | $71.02B | $69.09B | $66.56B | $65.81B | $63.23B | $60.43B | $65.50B |
| Treasury stock | — | — | — | −$52.60B | −$51.64B | −$52.02B | −$52.24B | −$51.72B | −$50.68B | −$47.99B |
| Accumulated other comprehensive income | −$14.13B | −$16.84B | −$14.28B | −$14.89B | −$14.33B | −$14.60B | −$13.50B | −$12.81B | −$10.30B | −$11.21B |
| Minority interest | $2.11B | $1.52B | $1.54B | $1.72B | $1.86B | $1.99B | $2.12B | $2.08B | $1.91B | $158.0M |
| Total shareholders' equity | $32.17B | $24.86B | $25.94B | $24.11B | $23.00B | $19.30B | $18.98B | $16.98B | $17.07B | $23.06B |
| Key figures | ||||||||||
| Total debt | $47.21B | $45.73B | $43.43B | $40.60B | $44.54B | $44.74B | $44.16B | $44.21B | $47.69B | $45.71B |
| Net cash (debt) | −$33.34B | −$31.16B | −$29.76B | −$28.97B | −$31.92B | −$33.82B | −$32.98B | −$28.10B | −$27.01B | −$23.51B |
| Working capital | $9.76B | $748.0M | $3.16B | $2.87B | $2.60B | $4.64B | −$6.56B | −$3.85B | $9.35B | $7.48B |
| Tangible book value | $4.15B | −$6.58B | −$7.28B | −$9.53B | −$11.61B | −$9.25B | −$7.79B | −$4.61B | $436.0M | $1.93B |
| Book value per share | $7.46 | $5.75 | $5.98 | $5.54 | $5.30 | $4.46 | $4.40 | $3.95 | $3.95 | $5.28 |
| Shares outstanding | 4.31B | 4.32B | 4.34B | 4.35B | 4.34B | 4.32B | 4.31B | 4.30B | 4.32B | 4.37B |
| Current ratio | 1.46 | 1.03 | 1.13 | 1.15 | 1.13 | 1.32 | 0.76 | 0.87 | 1.34 | 1.28 |
| Quick ratio | 0.79 | 0.72 | 0.72 | 0.77 | 0.81 | 0.96 | 0.56 | 0.69 | 0.90 | 0.98 |
| Debt / equity | 1.47 | 1.84 | 1.67 | 1.68 | 1.94 | 2.32 | 2.33 | 2.60 | 2.79 | 1.98 |
| Equity / assets | 30.7% | 24.7% | 26.6% | 26.0% | 24.4% | 22.1% | 22.0% | 20.4% | 19.4% | 26.4% |
| 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 | $16.37B | $11.08B | $13.87B | $15.78B | $14.30B | $13.79B | $14.57B | $18.16B | $18.99B | $16.92B | $13.66B | $15.44B |
| Cash & equivalents | $12.91B | $10.57B | $10.27B | $12.73B | $9.59B | $8.42B | $10.83B | $13.94B | $13.71B | $10.44B | $9.37B | $11.88B |
| Short-term investments | $3.46B | $509.0M | $3.60B | $3.05B | $4.71B | $5.37B | $3.74B | $4.23B | $5.29B | $6.48B | $4.30B | $3.55B |
| Receivables | $3.73B | $3.67B | $3.04B | $3.95B | $4.17B | $4.09B | $3.57B | $4.23B | $4.54B | $4.24B | $3.41B | $3.50B |
| Inventory | $4.65B | $4.73B | $4.42B | $4.80B | $5.08B | $5.10B | $4.73B | $4.71B | $4.76B | $4.96B | $4.42B | $4.25B |
| Other current assets | $8.13B | $10.90B | $9.71B | $2.72B | $3.06B | $3.20B | $3.13B | $3.18B | $3.30B | $3.34B | $5.24B | $4.68B |
| Total current assets | $32.88B | $30.39B | $31.04B | $27.25B | $26.61B | $26.18B | $26.00B | $30.29B | $31.60B | $29.46B | $26.73B | $27.87B |
| Property, plant & equipment (net) | $9.64B | $9.52B | $9.61B | $10.90B | $10.78B | $10.43B | $11.48B | $9.86B | $9.51B | $9.31B | $9.24B | $8.86B |
| Goodwill & intangible assets | $27.96B | $27.87B | $28.02B | $32.18B | $32.28B | $31.76B | $31.44B | $32.74B | $32.30B | $32.23B | $33.22B | $32.88B |
| Long-term investments | $20.78B | $20.40B | $20.23B | $20.32B | $19.38B | $18.37B | $18.09B | $19.04B | $19.11B | $19.64B | $19.79B | $19.36B |
| Other non-current assets | $16.67B | $16.03B | $15.90B | $15.40B | $15.28B | $14.98B | $13.54B | $14.33B | $8.68B | $8.75B | $8.72B | $8.61B |
| Total assets | $107.92B | $104.22B | $104.82B | $106.05B | $104.33B | $101.72B | $100.55B | $106.27B | $101.20B | $99.39B | $97.70B | $97.58B |
| Liabilities | ||||||||||||
| Accounts payable | $15.43B | $14.41B | $5.65B | $17.69B | $17.03B | $16.33B | $21.71B | $23.82B | $21.75B | $19.23B | $15.48B | $16.84B |
| Short-term debt | $6.54B | $4.83B | $3.69B | $4.24B | $4.47B | $5.58B | $2.44B | $3.27B | $5.73B | $7.45B | $6.88B | $6.00B |
| Deferred revenue | — | — | — | — | — | — | — | −$23.82B | −$21.91B | — | −$15.48B | −$16.84B |
| Total current liabilities | $25.20B | $22.38B | $21.28B | $22.50B | $21.94B | $23.81B | $25.25B | $28.57B | $29.26B | $28.36B | $23.57B | $24.41B |
| Long-term debt | $37.00B | $39.06B | $42.12B | $43.18B | $44.98B | $43.53B | $42.38B | $42.99B | $38.09B | $35.10B | $35.55B | $34.18B |
| Other long-term liabilities | $7.41B | $7.04B | $7.14B | $7.10B | $7.23B | $6.62B | $6.55B | $6.55B | $6.44B | $7.99B | $11.11B | $11.16B |
| Total liabilities | $69.61B | $68.48B | $70.54B | $72.78B | $74.15B | $73.96B | $74.18B | $78.11B | $73.79B | $71.45B | $70.22B | $69.75B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B | $1.76B |
| Retained earnings (deficit) | $84.17B | $82.03B | $80.38B | $80.31B | $78.80B | $77.19B | $76.05B | $75.95B | $75.19B | $74.87B | $73.78B | $73.79B |
| Accumulated other comprehensive income | −$13.63B | −$14.04B | −$14.13B | −$14.95B | −$15.76B | −$16.48B | −$16.84B | −$15.54B | −$15.46B | −$14.50B | −$14.28B | −$14.81B |
| Minority interest | $2.17B | $2.10B | $2.11B | $2.02B | $1.60B | — | — | — | — | — | — | — |
| Total shareholders' equity | $36.15B | $33.63B | $32.17B | $31.25B | $28.59B | $26.20B | $24.86B | $26.52B | $25.85B | $26.43B | $25.94B | $26.32B |
| Key figures | ||||||||||||
| Total debt | $43.54B | $43.89B | $47.21B | $47.42B | $49.45B | $49.11B | $45.73B | $46.26B | $43.82B | $42.55B | $43.43B | $40.17B |
| Net cash (debt) | −$27.17B | −$32.81B | −$33.34B | −$31.64B | −$35.15B | −$35.32B | −$31.16B | −$28.10B | −$24.82B | −$25.63B | −$29.76B | −$24.74B |
| Working capital | $7.68B | $8.01B | $9.76B | $4.75B | $4.67B | $2.37B | $748.0M | $1.72B | $2.34B | $1.11B | $3.16B | $3.46B |
| Tangible book value | $8.19B | $5.76B | $4.15B | −$930.0M | −$3.69B | −$5.56B | −$6.58B | −$6.23B | −$6.45B | −$5.80B | −$7.28B | −$6.56B |
| Book value per share | $8.38 | $7.80 | $7.46 | $7.24 | $6.63 | $6.08 | $5.75 | $6.13 | $5.99 | $6.11 | $5.99 | $6.07 |
| Shares outstanding | 4.31B | 4.31B | 4.31B | 4.31B | 4.31B | 4.31B | 4.32B | 4.32B | 4.32B | 4.32B | 4.33B | 4.34B |
| Current ratio | 1.30 | 1.36 | 1.46 | 1.21 | 1.21 | 1.10 | 1.03 | 1.06 | 1.08 | 1.04 | 1.13 | 1.14 |
| Quick ratio | 0.80 | 0.66 | 0.79 | 0.88 | 0.84 | 0.75 | 0.72 | 0.78 | 0.80 | 0.75 | 0.72 | 0.78 |
| Debt / equity | 1.20 | 1.30 | 1.47 | 1.52 | 1.73 | 1.87 | 1.84 | 1.74 | 1.69 | 1.61 | 1.67 | 1.53 |
| Equity / assets | 33.5% | 32.3% | 30.7% | 29.5% | 27.4% | 25.8% | 24.7% | 25.0% | 25.5% | 26.6% | 26.6% | 27.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 20, 2026); data from EODHD.
KO financial position
At the end of fiscal 2025 (December 31, 2025), Coca-Cola had total assets of $104.8 billion (up 4.2% from a year earlier), total liabilities of $70.5 billion and shareholders' equity of $32.2 billion. It held $13.9 billion in cash and short-term investments against $47.2 billion of debt, net debt of $33.3 billion. Its current ratio was 1.46. In the latest quarter (ended June 30, 2026) total assets were $107.9 billion and equity $36.1 billion.
Related: KO income statement, KO cash flow statement, KO key metrics. See the KO stock overview for the latest quote and news.
KO balance sheet FAQ
What are Coca-Cola's total assets?
Coca-Cola reported total assets of $104.8 billion at the end of fiscal 2025 (December 31, 2025), compared with $100.5 billion a year earlier.
How much debt does Coca-Cola have?
Coca-Cola had $47.2 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.47.
How much cash does Coca-Cola have?
Coca-Cola held $13.9 billion in cash and short-term investments at the end of fiscal 2025; with $47.2 billion of debt that is net debt of $33.3 billion.
What is Coca-Cola's book value?
Coca-Cola's shareholders' equity (book value) was $32.2 billion at the end of fiscal 2025, or $7.46 per share.
What is Coca-Cola's current ratio?
Coca-Cola had current assets of $31.0 billion and current liabilities of $21.3 billion, a current ratio of 1.46 (it can cover its short-term obligations).
How much goodwill does Coca-Cola have?
Coca-Cola carried $28.0 billion of goodwill and intangible assets, 26.7% of total assets, at the end of fiscal 2025.