Coca-Cola: A Long-Term Success Story. In-Depth Analysis 2024

Coca-Cola (S'ouvre dans une nouvelle fenêtre) stands as a paragon of enduring brand equity and global market leadership in the non-alcoholic beverage industry. Its equity story is anchored in the strength of its iconic brand, extensive product portfolio, and robust distribution network, reaching over 200 countries. This diversified portfolio, including flagship products like Coca-Cola, Diet Coke, and emerging categories such as water, teas, and functional beverages, ensures sustained consumer loyalty and market relevance.

Financially, Coca-Cola showcases consistent revenue growth, strong operating margins, and reliable free cash flow generation. Its disciplined capital allocation strategy supports shareholder returns through steady dividend payouts and share repurchase programs. The company’s strategic initiatives focus on innovation, sustainability, and digital transformation, aligning with evolving consumer preferences and regulatory landscapes.

Coca-Cola’s commitment to sustainability is exemplified by its "World Without Waste" initiative, aiming to collect and recycle a bottle or can for each one sold by 2030 (S'ouvre dans une nouvelle fenêtre). This reinforces its corporate responsibility while driving long-term growth.

With a proven management team, a resilient business model, and a forward-looking approach, Coca-Cola remains a compelling investment. It combines heritage and innovation, offering a stable yet growth-oriented opportunity in a dynamic global market.

Table of Contents

1. History

2. Management and Shareholder Structure

3. Business Model

   • 3.1. Basics of the Business Model

   • 3.2. Business Model

4. Industry

   • 4.1. Industry Overview

   • 4.2. Industry Trends

   • 4.3. Competitive Comparison

5. Key Figures

   • 5.1. Sales Development

   • 5.2. EBIT and Free Cash Flow

   • 5.3. Distributions (Dividends)

   • 5.4. Outstanding Shares

   • 5.5. Balance Sheet Analysis

     • 5.5.1. Long-Term Debt

     • 5.5.2. Debt-to-Equity Ratio

     • 5.5.3. Return on Equity

     • 5.5.4. Return on Assets

     • 5.5.5. Operating Margin

6. Opportunities and Risks

   • 6.1. Strengths

   • 6.2. Weaknesses

   • 6.3. Opportunities

   • 6.4. Risks

7. Assessment

   • 7.1. Historical Multiple Rating P/E Ratio

   • 7.2. Price-to-Free Cashflow Ratio

8. Conclusion