Coca-Cola CoMIL:1KO +1.31%54 Operating Margin % is 35.05% as of Mar. 2026, which is 23% above its 10-year median of 28.56. GuruFocus rates MIL:1KO with a GF Score™ of 54/100 and a GF Value™ of €61.69 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 116 Beverages - Non-Alcoholic companies, Coca-Cola Co ranks better than 97.41% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Coca-Cola Co's Operating Income for the
three
months ended in Mar. 2026 was €3,782 Mil. Coca-Cola Co's Revenue for the
three
months ended in Mar. 2026 was €10,788 Mil. Therefore, Coca-Cola Co's Operating Margin % for the quarter that ended in Mar. 2026 was 35.05%.
Good Sign:
Coca-Cola Co operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Coca-Cola Co's Operating Margin % or its related term are showing as below:
MIL:1KO'
s Operating Margin % Range Over the Past 10 Years
Min: 22.56 Med: 28.56 Max: 31.58
Current: 31.58
MIL:1KO's Operating Margin % is ranked better than 97.41% of 116
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 8.975
vs MIL:1KO: 31.58
Coca-Cola Co's 5-Year Average Operating Margin % Growth Rate was 1.20% per year.
Coca-Cola Co's Operating Income for the
three
months ended in Mar. 2026 was €3,782 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €13,389 Mil.
Coca-Cola Co (MIL:1KO) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Coca-Cola Co Operating Margin % Related Terms
Coca-Cola Co Operating Margin % Historical Data
* Premium members only.
The historical data trend for Coca-Cola Co's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MIL:1KO vs PEP, MNST, KDP: Operating Margin % Comparison
For the Beverages - Non-Alcoholic subindustry, Coca-Cola Co's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Coca-Cola Co Operating Margin % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Coca-Cola Co's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Coca-Cola Co's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Coca-Cola Co's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Coca-Cola Co (MIL:1KO) has a Operating Margin % of 35.05% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Coca-Cola Co and its competitors. This is 23% above median its historical median of 28.56. Over the past decade, Coca-Cola Co's Operating Margin % has ranged from 22.56 to 31.58. According to the industry distribution chart, Coca-Cola Co ranks #3 out of 116 companies in the Beverages - Non-Alcoholic industry, placing it in the top 2.6%.
Is Coca-Cola Co's Operating Margin % too high?
Coca-Cola Co's current Operating Margin % of 35.05% is 23% above median its 10-year median of 28.56. Over the past 10 years, this metric has ranged from a low of 22.56 to a high of 31.58. The Beverages - Non-Alcoholic industry median Operating Margin % is 8.98. Coca-Cola Co's value of 35.05% is 290.5% above this industry median. Based on the distribution chart, Coca-Cola Co ranks #3 out of 116 companies in the Beverages - Non-Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, Coca-Cola Co has a GF Score™ of 54/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Coca-Cola Co's Operating Margin % compare to PEP and MNST?
According to the Beverages - Non-Alcoholic industry distribution chart, Coca-Cola Co ranks #3 out of 116 companies for Operating Margin %. This places Coca-Cola Co in the top 3% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 8.98. Coca-Cola Co's value of 35.05% is 290.5% above this benchmark. Historically, Coca-Cola Co's own Operating Margin % has ranged from 22.56 to 31.58 over the past decade. While the company's 10-year median is 28.56 vs. the industry median of 8.98, Coca-Cola Co has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Beverages - Non-Alcoholic company?
The median Operating Margin % among Beverages - Non-Alcoholic companies is 8.98, based on 116 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Coca-Cola Co's current Operating Margin % of 35.05% is 290.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Coca-Cola Co and its competitors. For the Beverages - Non-Alcoholic industry, the median Operating Margin % is 8.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Coca-Cola Co's current Operating Margin % is 35.05%, which is 23% above median its own 10-year median of 28.56. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Coca-Cola Co stock overvalued right now?
Based on GuruFocus' analysis, Coca-Cola Co (MIL:1KO) is currently considered Modestly Overvalued. The stock's GF Value™ is €61.69, compared to a current price of €70.47 — trading 14.2% above its estimated fair value. The current Operating Margin % is 35.05%, which is 23% above median its 10-year median of 28.56 and 290.5% above the Beverages - Non-Alcoholic industry median of 8.98. Coca-Cola Co's overall GF Score™ is 54/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Coca-Cola Co (MIL:1KO), the current Operating Margin % is 35.05% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Coca-Cola Co (MIL:1KO) Overvalued in 2026?
Based on GuruFocus' analysis, Coca-Cola Co stock appears to be overvalued.
The current stock price of €70.47 is trading 14.2% above its estimated GF Value™ of €61.69.
GuruFocus considers Coca-Cola Co to be Modestly Overvalued.
Key valuation signals for MIL:1KO:
Operating Margin %: 35.05% (23% above median its 10-year median of 28.56)
GF Value™: €61.69 vs. price of €70.47 (14.2% above fair value)
Industry Position: 290.5% above the Beverages - Non-Alcoholic median (#3 of 116)
No single metric tells the full story. See the MIL:1KO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Founded in 1886, Atlanta-headquartered Coca-Cola is the world's largest nonalcoholic beverage company, with a strong portfolio of 200 brands covering key categories including carbonated soft drinks, water, sports, energy, juice, and coffee. Together with bottlers and distribution partners, the company sells finished beverage products bearing Coca-Cola and licensed brands through retailers and food-service locations in more than 200 countries and regions globally. Coca-Cola generates around 60% of its total revenue overseas, with sizable contributions from emerging economies in Latin America and Asia-Pacific.
54GF Score
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