Filing Flows › Coca Cola (KO) › Q3 2026 › vs Q3 2025
Coca Cola (KO) Q3 2026 vs Q3 2025 (year over year)
Coca Cola's revenue rose $925M (+7%) from $12.5B in Q3 2025 to $13.4B in Q3 2026. The biggest changes: Concentrate operations +$700M (+9%); Finished product operations +$225M (+5%). Gross margin 63.2% against 61.5% (+1.7 pts).
Coca Cola, Q3 2026: revenue $13.4B (+7% year over year), operating margin 33.4%, net earnings $4.0B, operating cash flow $4.9B. The chart draws each line against Q3 2025, the increases inside each band.
Margins
| Q3 2026 | Q3 2025 | Change | |
|---|---|---|---|
| Gross margin | 63.2% | 61.5% | +1.7 pts |
| Operating margin | 33.4% | 32.0% | +1.4 pts |
| Net margin | 30.0% | 29.7% | +0.3 pts |
| Free cash flow margin | 34.0% | 36.6% | -2.6 pts |
Every line
| Line | Q3 2026 | Q3 2025 | Change | % |
|---|---|---|---|---|
| Concentrate operations | $8.2B | $7.5B | $700M | +9% |
| Finished product operations | $5.2B | $5.0B | $225M | +5% |
| Revenue | $13.4B | $12.5B | $925M | +7% |
| Gross profit | $8.4B | $7.7B | $792M | +10% |
| Cost of revenue | $4.9B | $4.8B | $133M | +3% |
| Other income, net | $368M | $201M | $167M | +83% |
| Operating profit | $4.5B | $4.0B | $483M | +12% |
| Operating expenses | $4.0B | $3.7B | $309M | +8% |
| Pre-tax earnings | $4.8B | $4.2B | $650M | +16% |
| Net earnings | $4.0B | $3.7B | $313M | +8% |
| Minority interests | $47.0M | −$13.0M | $60.0M | — |
| Income tax | $777M | $500M | $277M | +55% |
| Depreciation & amortization | $253M | $268M | −$15.0M | -6% |
| Share-based compensation | $77.0M | $74.0M | $3.0M | +4% |
| Working capital & other | $589M | $1.0B | −$416M | -41% |
| Operating cash flow | $4.9B | $5.0B | −$115M | -2% |
| Free cash flow (OCF − capex) | $4.5B | $4.6B | −$15.0M | -0.3% |
| Capital expenditures | $379M | $479M | −$100M | -21% |
Questions
How much did Coca Cola's revenue grow year over year in Q3 2026?
Coca Cola's revenue rose $925M (+7%) from $12.5B in Q3 2025 to $13.4B in Q3 2026.
What drove Coca Cola's revenue change in Q3 2026?
Concentrate operations +$700M (+9%); Finished product operations +$225M (+5%).