Short answer
Coca-Cola Co (KO) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $47.9B (+1.9% year over year) and net income of $13.1B.
- Top risk flagged: Regulatory/legal risk: Potential impairment charges under ASC 350 and ASC 323 rules, $1.72B impairment recorded on BodyArmor trademark through 2025 due to revised forecasts and macroeconomic changes
FY2025 key financial metrics · XBRL
- Revenue
- $47.9B
- +1.9% YoY
- Net income
- $13.1B
- +23.3% YoY
- Operating margin
- 28.7%
- +7.5 pp YoY
- Gross margin
- 61.6%
- +0.6 pp YoY
- EPS (diluted)
- $3.04
- +23.6% YoY
- ROE
- 40.7%
- −2.0 pp YoY
- Operating cash flow
- $7.4B
- +8.9% YoY
Source: XBRL data from the Coca-Cola Co (KO) FY2025 10-K on SEC EDGAR. USD.
Coca-Cola Co FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Global beverage producer primarily selling a wide portfolio of nonalcoholic drinks through bottling partners
- Emphasis on expanding sustainability efforts targeting plastic waste reduction, recycled packaging, and carbon footprint reduction this year
- Increasing focus on cybersecurity risks including advanced AI-driven attacks and heightened third-party partner vulnerabilities
- 2025 net operating revenues $28.8B from international operations, highlighting significant exposure to foreign currency fluctuations
- Noteworthy disclosure on evolving regulatory risks around data privacy, environmental regulations, and impact of climate change on supply chain costs
Management Discussion & Analysis
- Revenue growth details not disclosed; global brand portfolio includes sparkling soft drinks, water, coffee, tea, and juice segments
- Profitability or margin figures not provided in the MDA excerpt
- No segment-specific revenue or profit data available to identify best or worst performing business units
- Cash flow, capital allocation, buybacks, dividends, and capex figures not mentioned in the text
- Forward outlook emphasizes optimizing brand portfolio and adapting to consumer demand variations across 200+ countries and territories
Risk Factors
- Regulatory/legal risk: Potential impairment charges under ASC 350 and ASC 323 rules, $1.72B impairment recorded on BodyArmor trademark through 2025 due to revised forecasts and macroeconomic changes
- Geopolitical/macroeconomic risk: Macroeconomic deterioration and higher discount rates affecting asset valuation and impairments, notably impacting emerging and developing markets' cash flow estimates
- Operational/supply chain risk: Refranchising and sale of bottling operations in India, Bangladesh, Philippines (2024-2025), and Nigeria divestiture (2025) impacting segment net operating revenues and unit case volume reporting
- Competitive/market disruption risk: Intensifying competition in sports hydration category led to revised projections and impairment of BodyArmor trademark, with growth rate slowdown cited
- Financial/structural risk: Concentrated U.S. pension plan liabilities represent 63% of projected benefit obligation with sensitivity of $9M cost increase per 50 bps discount rate decrease in 2026
Generated from the filing text; verify against the original. How to read a 10-K
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