Filing Flows › Coca Cola (KO) › Q2 2026 › vs Q2 2025
Coca Cola (KO) Q2 2026 vs Q2 2025 (year over year)
Coca Cola's revenue rose $845M (+7%) from $12.5B in Q2 2025 to $13.4B in Q2 2026. The biggest changes: Concentrate operations +$528M (+7%); Finished product operations +$317M (+6%). Gross margin 62.9% against 62.4% (+0.5 pts).
Coca Cola, Q2 2026: revenue $13.4B (+7% year over year), operating margin 34.9%, net earnings $4.4B, operating cash flow $5.5B. The chart draws each line against Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 62.9% | 62.4% | +0.5 pts |
| Operating margin | 34.9% | 34.1% | +0.8 pts |
| Net margin | 33.1% | 30.4% | +2.7 pts |
| Free cash flow margin | 38.1% | 26.9% | +11.3 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Concentrate operations | $8.1B | $7.6B | $528M | +7% |
| Finished product operations | $5.2B | $4.9B | $317M | +6% |
| Revenue | $13.4B | $12.5B | $845M | +7% |
| Gross profit | $8.4B | $7.8B | $594M | +8% |
| Cost of revenue | $5.0B | $4.7B | $251M | +5% |
| Other income, net | $803M | $516M | $287M | +56% |
| Operating profit | $4.7B | $4.3B | $392M | +9% |
| Operating expenses | $3.7B | $3.5B | $202M | +6% |
| Pre-tax earnings | $5.5B | $4.8B | $679M | +14% |
| SG&A | $3.7B | $3.5B | $250M | +7% |
| Other operating costs | $23.0M | $71.0M | −$48.0M | -68% |
| Net earnings | $4.4B | $3.8B | $615M | +16% |
| Minority interests | $13.0M | −$7.0M | $20.0M | — |
| Income tax | $1.0B | $993M | $44.0M | +4% |
| Depreciation & amortization | $266M | $279M | −$13.0M | -5% |
| Share-based compensation | $61.0M | $67.0M | −$6.0M | -9% |
| Working capital & other | $770M | −$345M | $1.1B | — |
| Operating cash flow | $5.5B | $3.8B | $1.7B | +45% |
| Free cash flow (OCF − capex) | $5.1B | $3.4B | $1.7B | +51% |
| Capital expenditures | $418M | $442M | −$24.0M | -5% |
Questions
How much did Coca Cola's revenue grow year over year in Q2 2026?
Coca Cola's revenue rose $845M (+7%) from $12.5B in Q2 2025 to $13.4B in Q2 2026.
What drove Coca Cola's revenue change in Q2 2026?
Concentrate operations +$528M (+7%); Finished product operations +$317M (+6%).