The company said net revenues for Q4 2025 grew 2% to $11.8 billion, and full-year net revenues grew 2% to $47.9 billion. It said organic revenues (non-GAAP) grew 5% for both the quarter and the full year. Full-year comparable operating margin (non-GAAP) was 31.2%, compared with 30.0% a year earlier.

1. 01

   The company said net revenues for Q4 2025 grew 2% to $11.8 billion, and full-year net revenues grew 2% to $47.9 billion. It said organic revenues (non-GAAP) grew 5% for both the quarter and the full year. Full-year comparable operating margin (non-GAAP) was 31.2%, compared with 30.0% a year earlier.

2. 02

   The Coca-Cola Company said operating income for Q4 declined 32%, including a non-cash impairment charge of $960 million related to the BODYARMOR trademark. Full-year operating income grew 38%, and operating income for Q4 was $1,841 million.

3. 03

   KO said cash flow from operations for the full year was $7.4 billion and free cash flow (non-GAAP) was $5.3 billion, which reflects the fairlife contingent consideration payment of $6.1 billion made in Q1 2025. Free cash flow excluding that payment (non-GAAP) was $11.4 billion.

4. 04

   The company said it expects organic revenue (non-GAAP) to grow 4% to 5% in 2026. It also expects comparable EPS (non-GAAP) to grow 7% to 8% from $3.00 in 2025, and free cash flow (non-GAAP) of about $12.2 billion.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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