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Side-by-side financial comparison of Athene Holding Ltd. (ATHS) and Coca-Cola Company (The) (KO). Click either name above to swap in a different company.
Coca-Cola Company (The) is the larger business by last-quarter revenue ($11.8B vs $8.1B, roughly 1.5× Athene Holding Ltd.). Coca-Cola Company (The) runs the higher net margin — 19.2% vs 6.4%, a 12.8% gap on every dollar of revenue. On growth, Athene Holding Ltd. posted the faster year-over-year revenue change (115.1% vs 2.4%). Over the past eight quarters, Athene Holding Ltd.'s revenue compounded faster (19.2% CAGR vs 2.3%).
Athene Holding Ltd. is a leading US-focused retirement services provider. It offers fixed, indexed and variable annuity products plus tailored retirement savings solutions for individual consumers and institutional clients, aiming to help customers secure long-term financial stability for their retirement.
The Coca-Cola Company is an American multinational corporation founded in 1892 headquartered in Atlanta, Georgia. It manufactures, sells and markets soft drinks including Coca-Cola, other non-alcoholic beverage concentrates and syrups, and alcoholic beverages. Its stock is listed on the New York Stock Exchange and is a component of the DJIA and the S&P 500 and S&P 100 indices.
ATHS vs KO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.1B | $11.8B |
| Net Profit | $523.0M | $2.3B |
| Gross Margin | — | 60.0% |
| Operating Margin | 16.9% | 15.6% |
| Net Margin | 6.4% | 19.2% |
| Revenue YoY | 115.1% | 2.4% |
| Net Profit YoY | -48.5% | 3.5% |
| EPS (diluted) | — | $0.53 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $8.1B | $11.8B | ||
| Q3 25 | $8.0B | $12.5B | ||
| Q2 25 | $5.4B | $12.5B | ||
| Q1 25 | $4.2B | $11.1B | ||
| Q4 24 | $3.8B | $11.5B | ||
| Q3 24 | $6.5B | $11.9B | ||
| Q2 24 | $4.7B | $12.4B | ||
| Q1 24 | $5.7B | $11.3B |
| Q4 25 | $523.0M | $2.3B | ||
| Q3 25 | $1.3B | $3.7B | ||
| Q2 25 | $464.0M | $3.8B | ||
| Q1 25 | $465.0M | $3.3B | ||
| Q4 24 | $1.0B | $2.2B | ||
| Q3 24 | $625.0M | $2.8B | ||
| Q2 24 | $629.0M | $2.4B | ||
| Q1 24 | $1.2B | $3.2B |
| Q4 25 | — | 60.0% | ||
| Q3 25 | — | 61.5% | ||
| Q2 25 | — | 62.4% | ||
| Q1 25 | — | 62.6% | ||
| Q4 24 | — | 60.0% | ||
| Q3 24 | — | 60.7% | ||
| Q2 24 | — | 61.1% | ||
| Q1 24 | — | 62.5% |
| Q4 25 | 16.9% | 15.6% | ||
| Q3 25 | 26.8% | 32.0% | ||
| Q2 25 | 12.2% | 34.1% | ||
| Q1 25 | 22.3% | 32.9% | ||
| Q4 24 | 30.4% | 23.5% | ||
| Q3 24 | 25.7% | 21.2% | ||
| Q2 24 | 22.0% | 21.3% | ||
| Q1 24 | 31.1% | 18.9% |
| Q4 25 | 6.4% | 19.2% | ||
| Q3 25 | 15.7% | 29.7% | ||
| Q2 25 | 8.7% | 30.4% | ||
| Q1 25 | 11.1% | 29.9% | ||
| Q4 24 | 26.8% | 19.0% | ||
| Q3 24 | 9.6% | 24.0% | ||
| Q2 24 | 13.5% | 19.5% | ||
| Q1 24 | 20.8% | 28.1% |
| Q4 25 | — | $0.53 | ||
| Q3 25 | — | $0.86 | ||
| Q2 25 | — | $0.88 | ||
| Q1 25 | — | $0.77 | ||
| Q4 24 | — | $0.50 | ||
| Q3 24 | — | $0.66 | ||
| Q2 24 | — | $0.56 | ||
| Q1 24 | — | $0.74 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $10.3B |
| Total DebtLower is stronger | $7.8B | $42.1B |
| Stockholders' EquityBook value | $20.5B | $32.2B |
| Total Assets | $442.2B | $104.8B |
| Debt / EquityLower = less leverage | 0.38× | 1.31× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $10.3B | ||
| Q3 25 | — | $12.7B | ||
| Q2 25 | — | $9.6B | ||
| Q1 25 | — | $8.4B | ||
| Q4 24 | — | $10.8B | ||
| Q3 24 | — | $13.9B | ||
| Q2 24 | — | $13.7B | ||
| Q1 24 | $15.3B | $10.4B |
| Q4 25 | $7.8B | $42.1B | ||
| Q3 25 | $7.9B | $43.2B | ||
| Q2 25 | $7.9B | $45.0B | ||
| Q1 25 | $6.3B | $43.5B | ||
| Q4 24 | $6.3B | $42.4B | ||
| Q3 24 | $5.7B | $43.0B | ||
| Q2 24 | $5.7B | $38.1B | ||
| Q1 24 | $5.7B | $36.5B |
| Q4 25 | $20.5B | $32.2B | ||
| Q3 25 | $20.4B | $31.2B | ||
| Q2 25 | $18.1B | $28.6B | ||
| Q1 25 | $17.5B | $26.2B | ||
| Q4 24 | $16.4B | $24.9B | ||
| Q3 24 | $17.4B | $26.5B | ||
| Q2 24 | $15.0B | $25.9B | ||
| Q1 24 | $14.8B | $26.4B |
| Q4 25 | $442.2B | $104.8B | ||
| Q3 25 | $429.9B | $106.0B | ||
| Q2 25 | $405.3B | $104.3B | ||
| Q1 25 | $381.5B | $101.7B | ||
| Q4 24 | $363.3B | $100.5B | ||
| Q3 24 | $355.0B | $106.3B | ||
| Q2 24 | $332.6B | $101.2B | ||
| Q1 24 | $320.6B | $99.4B |
| Q4 25 | 0.38× | 1.31× | ||
| Q3 25 | 0.38× | 1.38× | ||
| Q2 25 | 0.43× | 1.57× | ||
| Q1 25 | 0.36× | 1.66× | ||
| Q4 24 | 0.39× | 1.70× | ||
| Q3 24 | 0.33× | 1.62× | ||
| Q2 24 | 0.38× | 1.47× | ||
| Q1 24 | 0.39× | 1.38× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.0B | $3.8B |
| Free Cash FlowOCF − Capex | — | $2.9B |
| FCF MarginFCF / Revenue | — | 24.3% |
| Capex IntensityCapex / Revenue | — | 7.5% |
| Cash ConversionOCF / Net Profit | 5.82× | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $5.3B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0B | $3.8B | ||
| Q3 25 | $636.0M | $5.0B | ||
| Q2 25 | $1.1B | $3.8B | ||
| Q1 25 | $426.0M | $-5.2B | ||
| Q4 24 | $386.0M | $4.0B | ||
| Q3 24 | $780.0M | $-1.3B | ||
| Q2 24 | $525.0M | $3.6B | ||
| Q1 24 | $185.0M | $528.0M |
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $4.6B | ||
| Q2 25 | — | $3.4B | ||
| Q1 25 | — | $-5.5B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | — | $-1.7B | ||
| Q2 24 | — | $3.2B | ||
| Q1 24 | — | $158.0M |
| Q4 25 | — | 24.3% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 26.9% | ||
| Q1 25 | — | -49.5% | ||
| Q4 24 | — | 27.3% | ||
| Q3 24 | — | -14.6% | ||
| Q2 24 | — | 25.6% | ||
| Q1 24 | — | 1.4% |
| Q4 25 | — | 7.5% | ||
| Q3 25 | — | 3.8% | ||
| Q2 25 | — | 3.5% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 7.0% | ||
| Q3 24 | — | 4.0% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | 3.3% |
| Q4 25 | 5.82× | 1.65× | ||
| Q3 25 | 0.51× | 1.36× | ||
| Q2 25 | 2.28× | 1.00× | ||
| Q1 25 | 0.92× | -1.56× | ||
| Q4 24 | 0.38× | 1.80× | ||
| Q3 24 | 1.25× | -0.44× | ||
| Q2 24 | 0.83× | 1.49× | ||
| Q1 24 | 0.16× | 0.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ATHS
Segment breakdown not available.
KO
| Other | $7.0B | 59% |
| Finished Product Operations | $2.4B | 21% |
| Concentrate Operations | $2.4B | 20% |
