What is KO's intrinsic value?

TickerWorth's blended fair value for The Coca-Cola Company (KO) is $52.09 per share, versus a market price of $93.42 (79% above fair value).

Is KO overvalued or undervalued?

On our blended fair value KO looks overvalued vs fair value at $93.42. This is an educational estimate, not advice.

What discount rate is used for KO?

A WACC of 7.3% and a terminal growth rate of 2.5%.

Is The Coca-Cola stock undervalued?

TickerWorth's fair value for The Coca-Cola Company (KO) is $52.09 against a market price of $93.42. Our read: 79% above fair value. This is a model estimate, not investment advice.

The Coca-Cola (KO) DCF valuation and fair value

Our fair value for The Coca-Cola Company (KO) is $52.09, built on a 7.3% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.

What growth is priced into The Coca-Cola stock?

Today's price implies revenue growth of 9.3% a year for 5 years; our model assumes 3.2% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $93.42. A model estimate, not investment advice.

The Coca-Cola (KO) insider trading

The most recent insider filing (SEC Form 4) for The Coca-Cola Company (KO): Pietracci Bruno, —, option exercise on 2026-08-20. The latest filings are listed on this page. A disclosure, not a signal to trade.

KO · Intrinsic value

Is The Coca-Cola Company (KO) overvalued or undervalued?

Name: The Coca-Cola Company (KO) DCF intrinsic value
Creator: TickerWorth

The Coca-Cola Company (KO) trades at the delayed market price of $93.42 a share. That price already implies revenue growth of 9.3% a year for 5 years. TickerWorth's fair value is $52.09 a share (79% above fair value), as of Oct 20, 2026. It is a model estimate, and every input behind it is sourced below.

Model by Miraaj Patel · generated from a hand-researched model · Updated Oct 20, 2026 · How these pages are made

Open full KO analysis

Is KO overvalued?

Backup data source

This price comes from our backup market-data feed.

Fair value: $52.09
Market price: $93.42
Downside to fair value: 44.2%
Verdict: 79% above fair value

Price as of 20 Oct 2026, 12:47 UTC · Prices are delayed.

Fair value against the delayed market price: 79% above fair value.

Reverse DCF: Today's price implies revenue growth of 9.3% a year for 5 years; our model assumes 3.2% a year on average over the same horizon.

What is KO's TickerWorth Score?

C50/100

Middle of the pack — real strengths and real weaknesses

Compared with Consumer Defensive companies in US

Its strongest point: a profitable, high-quality business. Its weakest: looks expensive on the numbers.

Value · 14 of 100
Cheaper than 14% of Consumer Defensive companies in US
Price vs worth · 12 of 100
Quality · 92 of 100
More profitable than 92% of Consumer Defensive companies in US
Financial health · 65 of 100
Financially stronger than 65% of Consumer Defensive companies in US
Growth · 48 of 100
Growing faster than 48% of Consumer Defensive companies in US
Momentum · 94 of 100
Outperformed 94% of Consumer Defensive companies in US over the past year

Confidence: High confidence · Scored 20 Oct 2026, 12:47 UTC

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Where the numbers come from

Hand-researched model

What the modeller flagged

TERMINAL VALUE IS ~80% OF ENTERPRISE VALUE — above the 75% line. A low-growth, low-beta business discounted at 7.29% puts most of its value in the steady state, so the precision of the per-share figure should not be taken seriously; the sensitivity range is the honest output.
YEAR 2 GROWTH (0.5%) IS A DERIVED SPLICE, NOT A FORECAST OF DEMAND. It nets ~5% organic growth against ~4.5% of revenue leaving with the Africa bottler; the derivation spans about -0.5% to +1%. A value of zero or below would make the site label KO a cyclical, which it is not. Changing it to -0.5% moves the value by well under $1/share — the label, not the number, is what depends on it.
BETA NORMALIZED UP from the published 0.342 to 0.47 (own 10-year regression). This LOWERS the value by ~$8.50/share versus using the published figure ($74.76). Cost of debt is the ~5.9% marginal rate, not the ~3.7% average.
THE BRIDGE CARRIES ~$45.8B OF NON-OPERATING VALUE (~$10.6/share): listed stakes at market, unlisted at book, CCBA at deal value, less minorities at book. The listed half moves with five other stock prices (Monster alone is ~$4/share) and is pre-tax.
IRS LITIGATION IS UNMODELLED. A loss on KO's own estimate (~$14B for 2010-25, plus a ~3.8-point higher tax rate thereafter) would take roughly $6/share off ($60.16); a win would add the ~$6.5B deposit back (~$1.50/share, $67.78). The asymmetry is the market's problem as much as the model's.
SBC ($279M in FY2025, 0.6% of revenue) is expensed inside GAAP operating income and not added back; dilution is carried by the diluted share count, which buybacks hold flat.
Q4 2026 CARRIES SIX FEWER DAYS than Q4 2025 (Q1 had six more). Year 1's second-half build already reflects this; reported quarterly growth in Q4 will look weak for calendar reasons.

KO DCF valuation: what the price assumes

At a recent price of $93.42, The Coca-Cola Company (KO) trades 79% above TickerWorth's blended fair value of $52.09 per share — a discounted-cash-flow model cross-checked against peer multiples and asset value — meaning the market currently prices KO overvalued vs our estimate of what the business is intrinsically worth. Our fair value sits below the market, an implied -44.2% move to close the gap if the business performs in line with our assumptions. This is an educational model, not a price target or a recommendation — the value moves with the inputs, which you can test yourself using the WACC slider below.

Read the full reasoning

One of the lenses behind that blended figure is a discounted-cash-flow model, which on its own values KO at about $66.27 per share. The rest of this page walks through that DCF — its assumptions, reverse-DCF and discount-rate sensitivity — because it is the auditable anchor of the blend.

The valuation discounts The Coca-Cola Company's projected free cash flows at a weighted-average cost of capital (WACC) of 7.3%, with a long-run terminal growth rate of 2.5%. About 80% of the enterprise value comes from the terminal value — the portion beyond the explicit forecast window — which is typical for a stable, cash-generative business and a reminder that small changes in the discount rate or terminal growth assumption swing the intrinsic value meaningfully.

Running the DCF in reverse — solving for the growth the current price already assumes — the market is implying roughly 9.3% annual revenue growth for KO. Our base case instead compounds to about 3.2% a year over the same forecast, so the market is pricing in materially faster growth than our base case. The reverse-DCF is a quick sanity check: it reframes 'is this stock cheap?' as 'do I believe the growth the price requires?' rather than arguing over a single point estimate of fair value.

Sensitivity matters more than any single number. Across a reasonable band of discount-rate assumptions, KO's modeled DCF value ranges from about $46.21 to $129.93 per share. If that range still sits below today's price, the market is optimistic relative to the model across the whole band; if it brackets the price, the stock is roughly fairly valued on our assumptions. Use the interactive slider to see exactly where your own cost-of-capital view lands.

How to read this page: the DCF fair value is what The Coca-Cola Company would be worth if its cash flows grow as modeled and are discounted at the stated WACC. The assumptions table shows every input and its source; the reverse-DCF shows what the market believes; the sensitivity band shows how fragile the answer is. None of this is investment advice — it is a transparent, auditable framework for forming your own view of KO's intrinsic value. Figures update as new filings and prices come in.

Every input behind KO's DCF

Input	Value	Source
Base-year revenueCoca-Cola FY2025 10-K (accession 0001628280-26-010047, filed 2026-02-20), Consolidated Statements of Income: Net operating revenues FY2025 $47,941M, +1.9% on FY2024's $47,061M. REPORTED vs ORGANIC — the gap is the whole story of this line: organic revenue (non-GAAP) grew 5% in FY2025, but currency took ~2 points off and refranchising (Philippines, Bangladesh and Indian bottling territories sold in 2024-25) took most of the rest. This model is built on REPORTED dollars, because reported dollars are what get discounted; organic growth enters only through the Year-1 bridge in forecast.revenue_growth. The base INCLUDES the Africa bottler (CCBA), which has been 'held for sale' since Q4 2025 but is still consolidated — its removal is modelled in Year 2, not here. CROSS-CHECK: H1 2026 revenue $25,852M, +9.2% on H1 2025's $23,664M (inflated by six extra days in Q1 2026, which reverse in Q4); Q2 alone $13,380M, +7%.	$47,941,000,000	Coca-Cola FY2025 10-K (accession 0001628280-26-010047, filed 2026-02-20), Consolidated Statements of Income: Net operating revenues FY2025 $47,941M, +1.9% on FY2024's $47,061M. REPORTED vs ORGANIC — the gap is the whole story of this line: organic revenue (non-GAAP) grew 5% in FY2025, but currency took ~2 points off and refranchising (Philippines, Bangladesh and Indian bottling territories sold in 2024-25) took most of the rest. This model is built on REPORTED dollars, because reported dollars are what get discounted; organic growth enters only through the Year-1 bridge in forecast.revenue_growth. The base INCLUDES the Africa bottler (CCBA), which has been 'held for sale' since Q4 2025 but is still consolidated — its removal is modelled in Year 2, not here. CROSS-CHECK: H1 2026 revenue $25,852M, +9.2% on H1 2025's $23,664M (inflated by six extra days in Q1 2026, which reverse in Q4); Q2 alone $13,380M, +7%.
Base EBIT marginCoca-Cola FY2025 10-K (accession 0001628280-26-010047): GAAP operating income $13,762M / $47,941M = 28.71%. Depressed by $1,261M of 'other operating charges', of which $960M is a NON-CASH impairment of the BODYARMOR trademark. Comparable operating margin (non-GAAP, Q4 release) was 31.24%. EBIT here EXCLUDES equity income from bottlers and Monster ($2,031M in FY2025), interest income, and the ~$1B of gains in 'other income' — the bottler stakes are valued separately at market in market.net_debt, so leaving their income out of EBIT is what stops it being counted twice. CROSS-CHECK: H1 2026 GAAP operating margin 34.93% ($9,031M / $25,852M), comparable 35.05% vs 34.28% a year earlier. KO's margin is strongly seasonal — Q4 2025 comparable margin was only 24.4% — so the first half overstates the full year. This base figure is used only for the engine's peak-margin test; the valuation runs off the forecast margins.	28.7%	Coca-Cola FY2025 10-K (accession 0001628280-26-010047): GAAP operating income $13,762M / $47,941M = 28.71%. Depressed by $1,261M of 'other operating charges', of which $960M is a NON-CASH impairment of the BODYARMOR trademark. Comparable operating margin (non-GAAP, Q4 release) was 31.24%. EBIT here EXCLUDES equity income from bottlers and Monster ($2,031M in FY2025), interest income, and the ~$1B of gains in 'other income' — the bottler stakes are valued separately at market in market.net_debt, so leaving their income out of EBIT is what stops it being counted twice. CROSS-CHECK: H1 2026 GAAP operating margin 34.93% ($9,031M / $25,852M), comparable 35.05% vs 34.28% a year earlier. KO's margin is strongly seasonal — Q4 2025 comparable margin was only 24.4% — so the first half overstates the full year. This base figure is used only for the engine's peak-margin test; the valuation runs off the forecast margins.
Forecast revenue growthESTIMATEAssumption — TickerWorth's 5-year explicit forecast	4% → 0% → 4% → 4% → 4%	ESTIMATEAssumption — TickerWorth's 5-year explicit forecast
Risk-free rateUS 10Y Treasury constant maturity (FRED DGS10): 5.24% on 2026-10-01, the latest published observation. Shared by every model in this tracker.	5.2%	US 10Y Treasury constant maturity (FRED DGS10): 5.24% on 2026-10-01, the latest published observation. Shared by every model in this tracker.
BetaESTIMATEAssumption — Yahoo Finance 5Y-monthly beta via yfinance (0.342, read 2026-10-03) + own 10-year monthly regression vs S&P 500: NORMALIZED UP from the published 0.342 to 0.47 — CONSERVATIVE: it raises the discount rate and LOWERS the value. Reason, stated rather than felt: at 0.342 KO's cost of equity would be 6.95%, barely 105bp above the ~5.9% KO would pay on a new bond. Equity holders sit behind bondholders and cannot sensibly be priced to earn almost the same. The published figure is low because the 5-year monthly window (60 points) is dominated by 2022, when staples rose while the market fell — my own 5Y-monthly regression gives 0.295 and a 2-year weekly one 0.12, so the measured number is unstable rather than informative. 0.47 is my 10-year monthly regression of KO against the S&P 500 (120 points, Oct-2016 to Sep-2026, yfinance total-return closes), which spans more than one regime; the Blume-adjusted published beta would be 0.56. Each 0.1 of beta is worth roughly $6.60/share; the published 0.342 would give $74.76.	0.47	ESTIMATEAssumption — Yahoo Finance 5Y-monthly beta via yfinance (0.342, read 2026-10-03) + own 10-year monthly regression vs S&P 500: NORMALIZED UP from the published 0.342 to 0.47 — CONSERVATIVE: it raises the discount rate and LOWERS the value. Reason, stated rather than felt: at 0.342 KO's cost of equity would be 6.95%, barely 105bp above the ~5.9% KO would pay on a new bond. Equity holders sit behind bondholders and cannot sensibly be priced to earn almost the same. The published figure is low because the 5-year monthly window (60 points) is dominated by 2022, when staples rose while the market fell — my own 5Y-monthly regression gives 0.295 and a 2-year weekly one 0.12, so the measured number is unstable rather than informative. 0.47 is my 10-year monthly regression of KO against the S&P 500 (120 points, Oct-2016 to Sep-2026, yfinance total-return closes), which spans more than one regime; the Blume-adjusted published beta would be 0.56. Each 0.1 of beta is worth roughly $6.60/share; the published 0.342 would give $74.76.
Terminal growthESTIMATEAssumption — house default: House default 2.5% (roughly long-run nominal GDP), kept for comparability with every other company in this tracker. For KO it is if anything a little LOW in nominal local-currency terms (organic growth has run 4-6% for years on volume plus pricing in emerging markets) and about right in DOLLARS once the long-run currency drag is netted off — the model is in dollars. 2.0% takes ~$4.90/share off ($61.34); 3.0% adds ~$6.10 ($72.35). The price needs ~3.8% forever. Must remain < WACC of 7.29%.	2.5%	ESTIMATEAssumption — house default: House default 2.5% (roughly long-run nominal GDP), kept for comparability with every other company in this tracker. For KO it is if anything a little LOW in nominal local-currency terms (organic growth has run 4-6% for years on volume plus pricing in emerging markets) and about right in DOLLARS once the long-run currency drag is netted off — the model is in dollars. 2.0% takes ~$4.90/share off ($61.34); 3.0% adds ~$6.10 ($72.35). The price needs ~3.8% forever. Must remain < WACC of 7.29%.
Diluted sharesCoca-Cola Q2 2026 earnings release, 8-K Ex-99.1 (accession 0001628280-26-049922); same figure in the Q2 10-Q: Average shares outstanding assuming dilution, Q2 2026 (three months to 2026-07-03): 4,313M (basic 4,303M + 10M dilutive). H1 2026 also 4,313M; FY2025 4,313M. The count is FLAT: buybacks ($663M in H1 2026, $746M in FY2025) roughly offset stock issued to employees. Shares outstanding were 4,302.5M per the latest yfinance read.	4,313M	Coca-Cola Q2 2026 earnings release, 8-K Ex-99.1 (accession 0001628280-26-049922); same figure in the Q2 10-Q: Average shares outstanding assuming dilution, Q2 2026 (three months to 2026-07-03): 4,313M (basic 4,303M + 10M dilutive). H1 2026 also 4,313M; FY2025 4,313M. The count is FLAT: buybacks ($663M in H1 2026, $746M in FY2025) roughly offset stock issued to employees. Shares outstanding were 4,302.5M per the latest yfinance read.
Market priceBackup price feed · as of 2026-10-20 12:47 UTC	$93.42	Backup price feed · as of 2026-10-20 12:47 UTC

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What does The Coca-Cola Company do?

What does it do?

The Coca-Cola Company manufactures and sells non-alcoholic beverages globally, including sparkling soft drinks (Coca-Cola, Sprite, Fanta), water, sports drinks, coffee, tea, juice, and plant-based beverages under brands like Dasani, Powerade, Costa, and Minute Maid.

How does it make money?

The company generates revenue by selling beverage concentrates, syrups, and finished beverages to retailers, restaurants, and fountain distributors, with total revenue of $50.1 billion. It earns a gross margin of 61.9% and an operating margin of 34.9%.

Is it financially healthy?

Coca-Cola shows solid profitability with a net margin of 28.6% and a current ratio of 1.31, indicating it can cover short-term obligations. However, the company carries debt at 1.16 times equity, meaning liabilities exceed shareholder equity by 16%.

Who at KO filed insider trades?

Recent insider filings for The Coca-Cola Company
Date	Insider	Relationship	What happened	Value	Filing
20 Aug 2026	Pietracci Bruno	—	Option exercise	$2,537,329.10	Form 4 for Pietracci Bruno (opens sec.gov in a new tab)
20 Aug 2026	Pietracci Bruno	—	Open-market sale	$3,761,331.86	Form 4 for Pietracci Bruno (opens sec.gov in a new tab)
20 Aug 2026	Pietracci Bruno	—	Option exercise	$2,446,055.08	Form 4 for Pietracci Bruno (opens sec.gov in a new tab)
20 Aug 2026	Pietracci Bruno	—	Open-market sale	$3,705,773.45	Form 4 for Pietracci Bruno (opens sec.gov in a new tab)
20 Aug 2026	Pietracci Bruno	—	Option exercise	$1,762,802.65	Form 4 for Pietracci Bruno (opens sec.gov in a new tab)
20 Aug 2026	Pietracci Bruno	—	Open-market sale	$2,659,347.55	Form 4 for Pietracci Bruno (opens sec.gov in a new tab)

A disclosure, not a signal to trade. Source: SEC EDGAR (Form 4). Older filings and the 90-day buying-and-selling read are part of Pro. See plans

Common questions

What is KO's intrinsic value?
TickerWorth's blended fair value for The Coca-Cola Company (KO) is $52.09 per share, versus a market price of $93.42 (79% above fair value).
Is KO overvalued or undervalued?
On our blended fair value KO looks overvalued vs fair value at $93.42. This is an educational estimate, not advice.
What discount rate is used for KO?
A WACC of 7.3% and a terminal growth rate of 2.5%.
Is The Coca-Cola stock undervalued?
TickerWorth's fair value for The Coca-Cola Company (KO) is $52.09 against a market price of $93.42. Our read: 79% above fair value. This is a model estimate, not investment advice.
The Coca-Cola (KO) DCF valuation and fair value
Our fair value for The Coca-Cola Company (KO) is $52.09, built on a 7.3% discount rate (WACC) and 2.5% terminal growth. It blends our discounted-cash-flow model with other valuation lenses. Every assumption is listed on this page with its source.
What growth is priced into The Coca-Cola stock?
Today's price implies revenue growth of 9.3% a year for 5 years; our model assumes 3.2% a year on average over the same horizon. This is a reverse DCF: it holds our cash-flow model's other inputs and solves for the revenue growth that makes the model equal today's price of $93.42. A model estimate, not investment advice.
The Coca-Cola (KO) insider trading
The most recent insider filing (SEC Form 4) for The Coca-Cola Company (KO): Pietracci Bruno, —, option exercise on 2026-08-20. The latest filings are listed on this page. A disclosure, not a signal to trade.