The Coca-Cola Company

Who owns The Coca-Cola Company?
The Coca-Cola Company is a publicly traded corporation owned by its shareholders. Berkshire Hathaway is the largest single shareholder with approximately 9% of outstanding shares. Other major holders include Vanguard Group and BlackRock. The company has no controlling owner.

Is Coca-Cola publicly traded?
Yes, The Coca-Cola Company trades on the New York Stock Exchange under the ticker symbol KO. It is a component of both the S&P 500 and the Dow Jones Industrial Average. The company has been publicly traded since 1919.

What is Coca-Cola's annual revenue?
For FY2025, Coca-Cola reported net revenues of $47.9 billion, up 2% from $47.1 billion in FY2024. Organic revenues grew 5%. Full-year EPS was $3.04, and comparable EPS was $3.00.

Who is Coca-Cola's CEO?
Henrique Braun became CEO on March 31, 2026. He succeeded James Quincey, who transitioned to Executive Chairman after nine years as CEO. Braun previously served as COO and has worked at Coca-Cola for three decades.

How many brands does Coca-Cola own?
Coca-Cola owns more than 500 beverage brands sold in over 200 countries. Approximately 30 brands generate annual retail sales of at least $1 billion each. Major brands include Coca-Cola, Coke Zero Sugar, Sprite, Fanta, Dasani, Smartwater, Powerade, Minute Maid, Costa Coffee, and Fairlife.

What is Coca-Cola's business model?
Coca-Cola produces beverage concentrates and sells them to approximately 225 independent bottling partners worldwide. These bottlers manufacture, package, and distribute finished beverages. This franchise model generates high margins on concentrate sales while bottling partners handle capital-intensive manufacturing and distribution.

What is Coca-Cola's 2026 outlook?
Coca-Cola projects organic revenue growth of 4% to 5% and comparable EPS growth of 7% to 8% for 2026. The company expects an approximate 1% currency tailwind and an approximate 4% headwind from acquisitions and divestitures, primarily from the pending CCBA sale.

How many people does Coca-Cola employ?
As of December 31, 2025, Coca-Cola employed approximately 65,900 people, of which approximately 8,900 were located in the United States. The decrease from 69,700 in 2024 was primarily due to divestiture activity.

Pharmacist John Stith Pemberton invented the Coca-Cola formula in Atlanta, Georgia in 1886. He first sold the drink at Jacobs' Pharmacy soda fountain for five cents per glass, marketing it as a patent medicine and nerve tonic. Pemberton's bookkeeper, Frank M. Robinson, suggested the name "Coca-Cola" and created the script logo that remains largely unchanged today.

Asa Griggs Candler, an Atlanta businessman, acquired the formula and manufacturing rights from Pemberton's heirs for $2,300 in 1888. Candler incorporated The Coca-Cola Company in 1892. By 1895, he had established syrup plants in Dallas, Chicago, and Los Angeles, building a national distribution network.

In 1899, Candler signed the first bottling agreement with Benjamin Thomas and Joseph Whitehead for one dollar. This agreement launched the franchise bottling system that remains central to Coca-Cola's distribution model. The contour bottle, introduced in 1916, became one of the world's most recognized package designs.

The company went public in 1919 when a group of investors led by Ernest Woodruff purchased it from the Candler family for $25 million. Robert Woodruff, Ernest's son, became president in 1923 and led the company for 60 years, guiding Coca-Cola through its global expansion and establishing it as a symbol of American culture.

Coca-Cola expanded internationally throughout the 20th century. The company introduced Diet Coke in 1982, which became the top-selling diet soft drink globally. In 1985, Coca-Cola attempted to reformulate its flagship product as "New Coke," a decision that triggered consumer backlash and led to the return of the original formula as "Coca-Cola Classic" within 79 days.

Under CEO Roberto Goizueta (1981-1997), Coca-Cola acquired Columbia Pictures in 1982 (sold to Sony in 1989) and expanded its global bottling network. Goizueta also oversaw the company's transformation from a primarily U.S. business to a global enterprise.

Major acquisitions in the 2000s and 2010s diversified the portfolio beyond carbonated beverages. Coca-Cola acquired Glaceau (Vitaminwater and Smartwater) for $4.1 billion in 2007, Costa Coffee from Whitbread for $5.1 billion in 2019, and Topo Chico sparkling water in 2017. The company acquired fairlife, a producer of ultra-filtered milk, in 2020, and made a $6.1 billion contingent consideration payment in Q1 2025 related to the fairlife acquisition.

James Quincey became CEO in 2017 and accelerated the "total beverage company" strategy. Under Quincey, the company added more than 10 additional billion-dollar brands and divested bottling operations to focus on concentrate production. The company refranchised its U.S. bottling operations between 2014 and 2018, transferring distribution to independent bottlers.

In December 2025, Coca-Cola announced that COO Henrique Braun would succeed Quincey as CEO effective March 31, 2026. Quincey transitioned to Executive Chairman after nine years as CEO. Braun has worked at Coca-Cola for three decades, with leadership experience in Brazil, Latin America, Greater China, and South Korea.

For FY2025, Coca-Cola reported net revenues of $47.9 billion, up 2% from $47.1 billion in FY2024. Organic revenues grew 5%, driven by 4% growth in price/mix and 1% growth in concentrate sales. Full-year EPS was $3.04, up 23%, and comparable EPS was $3.00, up 4%. The company is guiding 2026 organic revenue growth of 4% to 5% and comparable EPS growth of 7% to 8%. The pending sale of Coca-Cola Beverages Africa (CCBA) is expected to close during the second half of 2026, subject to regulatory approvals.

Coca-Cola has committed to net zero greenhouse gas emissions across its value chain by 2050, with an interim target of reducing absolute Scope 1, 2, and 3 emissions by 25% by 2030 from a 2020 baseline. The company's climate targets have been validated by the Science Based Targets initiative (SBTi). The company is not a Certified B Corporation.

Water stewardship is central to Coca-Cola's sustainability strategy. Since 2015, the company has returned more than 100% of the water used in its finished products globally back to nature and communities on an aggregate basis. The company aims to return 100% of total water used at each of its more than 200 high-risk locations by 2035, using the World Resources Institute Aqueduct 4.0 tool to identify water-stressed areas.

Packaging sustainability targets include using 35% to 40% recycled material in primary packaging, including 30% to 35% recycled plastic globally, by 2035. The company aims to help collect 70% to 75% of equivalent bottles and cans introduced into the market annually by 2035. Environmental groups have criticized Coca-Cola for being one of the world's largest producers of plastic waste and for revising earlier, more ambitious packaging targets downward.

The company publishes annual sustainability reports and discloses through CDP for climate and water. Coca-Cola has been included in the Dow Jones Sustainability Indices. The company maintains supplier codes of conduct covering human rights, labor practices, and environmental protection across its global supply chain.

The Coca-Cola Foundation supports community programs focused on water access, environmental conservation, education, and economic empowerment. The company has committed to workforce diversity initiatives and reports progress annually.

Coca-Cola and its brands have received recognition from multiple independent organizations:

• Fortune World's Most Admired Companies: Coca-Cola has consistently ranked among the top companies in the food and beverage category
• Interbrand Best Global Brands: Coca-Cola consistently ranks among the top 10 most valuable global brands
• Barron's 100 Most Sustainable Companies: Coca-Cola has been listed for multiple consecutive years
• CDP Climate and Water Disclosure: Coca-Cola has received recognition for transparency in climate and water reporting
• Effie Awards: Coca-Cola has received numerous awards for marketing effectiveness, including for the "Share a Coke" campaign
• Cannes Lions: Awards for advertising creativity and campaign execution

Coca-Cola faces sustained regulatory scrutiny and public controversy across several areas:

Public Health and Sugar: Public health advocates have criticized Coca-Cola for the sugar content of its beverages and their contribution to obesity, type 2 diabetes, and other health conditions. Multiple jurisdictions have implemented sugar taxes that directly affect Coca-Cola product pricing. The company has responded with product reformulation, zero-sugar expansions (Coke Zero Sugar volume grew 13% in Q4 2025), and smaller portion sizes. Critics argue these measures are insufficient.

Plastic Pollution: Environmental organizations have identified Coca-Cola as one of the world's largest producers of plastic waste. The company has faced criticism for revising its packaging recycling targets downward and for insufficient action on reusable packaging. The "Break Free From Plastic" audit has named Coca-Cola the world's top plastic polluter for multiple consecutive years.

Water Usage: Coca-Cola's water extraction practices in water-stressed regions have attracted opposition from communities and advocacy organizations. Facilities in India and other regions have faced local protests regarding water usage and wastewater discharge. The company has implemented water stewardship programs and replenishment commitments in response.

Marketing to Children: Coca-Cola has faced scrutiny regarding marketing practices targeting children and adolescents, particularly in emerging markets. The company has implemented policies restricting marketing to children under 12 in many markets, though enforcement varies by region.

Labor Practices: Investigations have identified labor concerns in Coca-Cola's sugar supply chain and bottling operations in certain regions. The company maintains supplier standards and auditing programs, but independent monitoring remains ongoing.

Tax Disputes: Coca-Cola is engaged in ongoing tax litigation with the U.S. Internal Revenue Service regarding transfer pricing for international operations. The company's 2026 outlook explicitly notes that its tax rate estimate does not include the impact of this litigation if the company were not to prevail.