The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is a global beverage producer with a portfolio of drinks: Coca-Cola, Sprite, Fanta, Aquarius, Monster, Costa, and Innocent, among others. Having sold Coca-Cola products in the US since 1886, and incorporated in 1919, the company has grown through new product launches and acquisitions to become the world’s largest non-alcoholic beverage maker with a brand value of over USD 33 billion and a revenue of USD 46 billion in 2023. It is also the global leader in the following sub-categories: sparkling soft drinks; nutrition, juice, dairy, and plant; hydration and sports drinks; and ready-to-drink coffee and tea. 

Coca-Cola’s beverages segment consists of four broad categories: 1) Sparkling soft drinks, including the Coca-Cola brand; 2) Hydration and Sports; 3) Coffee and Tea; and 4) Nutrition, Juice, Dairy, and Plant. It sold ~31 billion unit cases of beverages in 2021. The company also has bottling operations (the majority being equity stake investments in independent bottling partners) and a global ventures segment that houses strategic acquisitions such as its acquisition of the Costa coffee brand in 2019.

International markets accounted for ~84% of total unit cases sold, with Mexico, China, Brazil, and India being the largest contributors. The US accounted for the remaining ~16%. Coca-Cola targets long-term organic revenue growth of 4%–6% driven by reformulations and line extensions as well as the scaling of smaller brands. It also aims to grow operating income by 6%–8% through margin improvements in the long run. The company expects to achieve net zero carbon emissions by 2050 .