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Side-by-side financial comparison of Coca-Cola Company (The) (KO) and Union Pacific Corporation (UNP). 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 $6.2B, roughly 1.9× Union Pacific Corporation). Union Pacific Corporation runs the higher net margin — 27.4% vs 19.2%, a 8.2% gap on every dollar of revenue. On growth, Union Pacific Corporation posted the faster year-over-year revenue change (3.2% vs 2.4%). Coca-Cola Company (The) produced more free cash flow last quarter ($2.9B vs $631.0M). Over the past eight quarters, Coca-Cola Company (The)'s revenue compounded faster (2.3% CAGR vs 1.7%).
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.
The Union Pacific Railroad Company is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second-largest railroad in the United States after BNSF.
KO vs UNP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $11.8B | $6.2B |
| Net Profit | $2.3B | $1.7B |
| Gross Margin | 60.0% | — |
| Operating Margin | 15.6% | 39.5% |
| Net Margin | 19.2% | 27.4% |
| Revenue YoY | 2.4% | 3.2% |
| Net Profit YoY | 3.5% | 4.6% |
| EPS (diluted) | $0.53 | $2.87 |
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.
| Q1 26 | — | $6.2B | ||
| Q4 25 | $11.8B | $6.1B | ||
| Q3 25 | $12.5B | $6.2B | ||
| Q2 25 | $12.5B | $6.2B | ||
| Q1 25 | $11.1B | $6.0B | ||
| Q4 24 | $11.5B | $6.1B | ||
| Q3 24 | $11.9B | $6.1B | ||
| Q2 24 | $12.4B | $6.0B |
| Q1 26 | — | $1.7B | ||
| Q4 25 | $2.3B | $1.8B | ||
| Q3 25 | $3.7B | $1.8B | ||
| Q2 25 | $3.8B | $1.9B | ||
| Q1 25 | $3.3B | $1.6B | ||
| Q4 24 | $2.2B | $1.8B | ||
| Q3 24 | $2.8B | $1.7B | ||
| Q2 24 | $2.4B | $1.7B |
| Q1 26 | — | — | ||
| 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 26 | — | 39.5% | ||
| Q4 25 | 15.6% | 39.5% | ||
| Q3 25 | 32.0% | 40.8% | ||
| Q2 25 | 34.1% | 41.0% | ||
| Q1 25 | 32.9% | 39.3% | ||
| Q4 24 | 23.5% | 41.3% | ||
| Q3 24 | 21.2% | 39.7% | ||
| Q2 24 | 21.3% | 40.0% |
| Q1 26 | — | 27.4% | ||
| Q4 25 | 19.2% | 30.4% | ||
| Q3 25 | 29.7% | 28.6% | ||
| Q2 25 | 30.4% | 30.5% | ||
| Q1 25 | 29.9% | 27.0% | ||
| Q4 24 | 19.0% | 28.8% | ||
| Q3 24 | 24.0% | 27.4% | ||
| Q2 24 | 19.5% | 27.9% |
| Q1 26 | — | $2.87 | ||
| Q4 25 | $0.53 | $3.12 | ||
| Q3 25 | $0.86 | $3.01 | ||
| Q2 25 | $0.88 | $3.15 | ||
| Q1 25 | $0.77 | $2.70 | ||
| Q4 24 | $0.50 | $2.91 | ||
| Q3 24 | $0.66 | $2.75 | ||
| Q2 24 | $0.56 | $2.74 |
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 | $735.0M |
| Total DebtLower is stronger | $42.1B | — |
| Stockholders' EquityBook value | $32.2B | — |
| Total Assets | $104.8B | $69.6B |
| Debt / EquityLower = less leverage | 1.31× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $735.0M | ||
| Q4 25 | $10.3B | $1.3B | ||
| Q3 25 | $12.7B | $808.0M | ||
| Q2 25 | $9.6B | $1.1B | ||
| Q1 25 | $8.4B | $1.4B | ||
| Q4 24 | $10.8B | $1.0B | ||
| Q3 24 | $13.9B | $947.0M | ||
| Q2 24 | $13.7B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | $42.1B | $30.3B | ||
| Q3 25 | $43.2B | $30.3B | ||
| Q2 25 | $45.0B | $30.3B | ||
| Q1 25 | $43.5B | $30.6B | ||
| Q4 24 | $42.4B | $29.8B | ||
| Q3 24 | $43.0B | $29.8B | ||
| Q2 24 | $38.1B | $31.2B |
| Q1 26 | — | — | ||
| Q4 25 | $32.2B | $18.5B | ||
| Q3 25 | $31.2B | $17.3B | ||
| Q2 25 | $28.6B | $16.3B | ||
| Q1 25 | $26.2B | $16.0B | ||
| Q4 24 | $24.9B | $16.9B | ||
| Q3 24 | $26.5B | $16.6B | ||
| Q2 24 | $25.9B | $16.5B |
| Q1 26 | — | $69.6B | ||
| Q4 25 | $104.8B | $69.7B | ||
| Q3 25 | $106.0B | $68.6B | ||
| Q2 25 | $104.3B | $68.6B | ||
| Q1 25 | $101.7B | $68.5B | ||
| Q4 24 | $100.5B | $67.7B | ||
| Q3 24 | $106.3B | $67.6B | ||
| Q2 24 | $101.2B | $67.8B |
| Q1 26 | — | — | ||
| Q4 25 | 1.31× | 1.64× | ||
| Q3 25 | 1.38× | 1.75× | ||
| Q2 25 | 1.57× | 1.86× | ||
| Q1 25 | 1.66× | 1.91× | ||
| Q4 24 | 1.70× | 1.76× | ||
| Q3 24 | 1.62× | 1.79× | ||
| Q2 24 | 1.47× | 1.89× |
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 | $3.8B | — |
| Free Cash FlowOCF − Capex | $2.9B | $631.0M |
| FCF MarginFCF / Revenue | 24.3% | 10.1% |
| Capex IntensityCapex / Revenue | 7.5% | — |
| Cash ConversionOCF / Net Profit | 1.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.3B | $4.8B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.8B | $2.2B | ||
| Q3 25 | $5.0B | $2.5B | ||
| Q2 25 | $3.8B | $2.3B | ||
| Q1 25 | $-5.2B | $2.2B | ||
| Q4 24 | $4.0B | $2.7B | ||
| Q3 24 | $-1.3B | $2.7B | ||
| Q2 24 | $3.6B | $1.9B |
| Q1 26 | — | $631.0M | ||
| Q4 25 | $2.9B | $1.2B | ||
| Q3 25 | $4.6B | $1.6B | ||
| Q2 25 | $3.4B | $1.4B | ||
| Q1 25 | $-5.5B | $1.3B | ||
| Q4 24 | $3.1B | $1.7B | ||
| Q3 24 | $-1.7B | $1.8B | ||
| Q2 24 | $3.2B | $1.0B |
| Q1 26 | — | 10.1% | ||
| Q4 25 | 24.3% | 20.1% | ||
| Q3 25 | 36.6% | 25.2% | ||
| Q2 25 | 26.9% | 22.7% | ||
| Q1 25 | -49.5% | 21.6% | ||
| Q4 24 | 27.3% | 28.4% | ||
| Q3 24 | -14.6% | 29.9% | ||
| Q2 24 | 25.6% | 16.8% |
| Q1 26 | — | — | ||
| Q4 25 | 7.5% | 16.4% | ||
| Q3 25 | 3.8% | 15.2% | ||
| Q2 25 | 3.5% | 15.2% | ||
| Q1 25 | 2.8% | 15.0% | ||
| Q4 24 | 7.0% | 15.1% | ||
| Q3 24 | 4.0% | 13.6% | ||
| Q2 24 | 3.4% | 15.0% |
| Q1 26 | — | — | ||
| Q4 25 | 1.65× | 1.20× | ||
| Q3 25 | 1.36× | 1.41× | ||
| Q2 25 | 1.00× | 1.24× | ||
| Q1 25 | -1.56× | 1.36× | ||
| Q4 24 | 1.80× | 1.51× | ||
| Q3 24 | -0.44× | 1.59× | ||
| Q2 24 | 1.49× | 1.14× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KO
| Other | $7.0B | 59% |
| Finished Product Operations | $2.4B | 21% |
| Concentrate Operations | $2.4B | 20% |
UNP
| Freight revenues | $5.9B | 95% |
| Other revenues | $324.0M | 5% |
