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coca-cola has a bigger distribution system and higher margins than competitors

by:Top-In     2020-08-09
Introduction to Coca-Cola (NYSE:KO)
There are more numbers than competitors who have a world-class distribution system to move it.
Although their CCE acquisition has squeezed profits in North America, their net profit is also higher than that of their competitors.
Do not have to rely on license agreements with other companies to distribute in the United States, Coca-
Coke is more independent than its competitors. PepsiCo (NASDAQ:PEP)
S. is a big competitor, but 51% of their net sales come from food.
Dr. Pepper Group (NYSE:DPS-OLD)
Relying on licensing agreements with big companies such as coca
Coke and Pepsi are distributed.
Moreover, almost all of Dr Pepper\'s operating profits come from the United States and Canada. Nestlé (OTCPK:NSRGY)
There is a considerable amount of liquid refreshing drinks 【LRB]
In the United States, sales of the drink are not large. CSD]market.
In addition, most of Nestlé\'s sales come from products other than the LRB market. Cott (NYSE:COT)
They are very small in terms of market share. they are more like a manufacturing company.
National Beverage Company(NASDAQ:FIZZ)
It is also very small in terms of market share.
Monster drinks (NASDAQ:MNST)
In terms of CSD market share, the size is small, they rely on third-party companies such as coca
Coke distributed.
Monsters are more like energy drinks experts.
Source us MarketPer last time Coca-Cola
Quote drink Digest, Coke article from Coca-ColaCola is 1 in U. S.
Pepsi sold 42% units and Pepsi 28 units. 1% and Dr. Pepper with 16. 8%.
National drinks, monsters and everything else are combined to form only 13. 1%.
The Beverage Digest shows that Nestle is a picture of a liquid drink.
US liquid drink Coca-2012
The cola company distributed some DPS, nsgy.
PK and other volumes above.
This graphic is important because it shows that companies like Monster, Scott and national drinks are very small compared to cocaCola in the US.
On the basis of comparison outside the United States, they are even smaller.
* This LRB graphic includes CSDs and water, but does not include Cliffstar, which Cott acquired in 2010. AB-
Comparison company-
Coca-Cola defined a box as 192 ounces, and they sold 27 ounces.
Unit cases in 2012.
The beer company showed their sales at HL.
1 Unit box displayed by beverage digestive juice metering converter [
192 U. S. liquid ouncesequals . 05680 HL.
That means Coca.
Coke sold 1,573 HL in 2012.
Budweiser InBev, the world\'s largest beer company, has sales of 354. 9 HL in 2012.
It is worth noting that the sales volume is more than 4 times that of the world\'s largest beer company.
Distribution System
Coca-Cola discusses their vast beverage distribution system in its annual report: The annual report discusses the fact that competitors such as Dr. Pepper, Monster and Nestle rely on Coca-Cola
Coke for distribution: quantity by region
Coca-Cola is a truly global company. 2012 Coca-
Coca-Cola Global Sales Source: Coca-Cola
World population Source: Carrie of adventure don\'t expect Coca-Cola
The amount of Coke that perfectly matches the world population map.
Some areas are more profitable than others, and the company will continue to find it harder to gain market share in some areas than others.
The top 30 countries in GDPWorld GDP by country give us the idea that one of the biggest markets is in.
The above vision shows the top 30 countries in the United Nations 2011 list on Wikipedia. org.
Gross profit margin: 60.
3% = 28,964/48,017 DPS: 58.
3% = 3,495/5, 995PEP: 52.
2% = 34,201/65,492 MNST: 51. 7% = 1,065. 656/2,060. 702FIZZ: 33. 9% = 213. 257/628. 886COT: 12. 9% = 289.
5/2, 251 * due to all sales of Nestlé outside of drinks, we excluded Nestlé. Coca-
Coca-Cola\'s annual report talks about the CCE acquisition reducing the gross profit margin in 2011: Relatively Speaking, Coca-Cola
The cost of selling Coke is lower.
Gross profit margin fell after MNST.
The relative cost of sales at FIZZ is very high and it is completely different from COT.
Operating margin: 26. 7% = 550. 623/2,060. 702KO: 22.
4% = 10,779/48,017 (SGA of -
17,738 and others447)DPS: 18.
2% = 1,092/5,995 (SGA of -
124 and others11)PEP: 13.
9% = 9,112/65,492 (SGA of -
-24,970 and amortization119)FIZZ: 10. 7% = 67. 088/628. 886 (SGA of -146. 169)COT: 4. 9% = 109. 7/2,251 (SGA of -
-178 and disposal1. 8)
* Due to all of Nestlé\'s sales outside the beverage, we excluded it. Coca-
Coca-Cola\'s annual report talks about the CCE acquisition reducing operating profit in North America: we see that MNST\'s operating costs are relatively low and therefore operating margins are higher than KO\'s.
PEP\'s SGA is high compared to its competitors.
Net margin: 18.
8% = 9,019/48,017 (
Interest income 471, interest expense-
397, share capital income 819, other income 137, taxes-
-2,723 and no control67)MNST: 16. 5% = 340. 020/2,060. 702 (other of -1. -469 and taxes209. 134)DPS: 10. 5% = 629/5, 995 (
-Interest expense
Interest income of 125, 2, Other interest income of 9 and-349)PEP: 9.
4% = 6,178/65,492 (interest of -
899, other 91, tax-
-2,090 and no control36)FIZZ: 7. 0% = 43. 993/628. 886 (interest of -. 107, other of -. Tax of 085 and-22. 903)COT: 2. 1% = 47. 8/2,251 (earn-
6, 2 other, interested-54. 2, tax of -4.
-6 and no control4. 5)
* Due to all of Nestlé\'s sales outside the beverage, we excluded it.
Both PEP and COT have high interest payments relative to their competitors.
That hurt their net profit margin. Coca-
Coca-Cola has the highest net profit margin.
Monster is the only company that has a close relationship.
The profit at the top of each column is the gross profit margin.
The second line starting from the top is the operating profit margin, and the third line starting from the top is the net profit margin.
* Due to all of Nestlé\'s sales outside the beverage, we excluded it.
Monsters have higher operating margins than Coca-Cola
Coke, but for many reasons, it is a comparison between apples and oranges: 1.
Monster relying on coca
Coke distributed. 2.
Monster specializes in energy drinks. 3. Coca-
When it comes to CSD rolls, Coke and monsters are in different leagues (
There is only one monster. 4% of U. S. CSD volume).
20% of Pepsi\'s operating profits come from outside the Americas.
The combination of food and drink forms the 20%.
All of their operating profits come from the United States and Canada.
The company relies on coca
Coke and Pepsi issue 2/3rds for their Dr Pepper.
The Dr. Pepper Snapple team appears to have chosen a fair peer group in their annual report.
They chose a companion group of coca. Cola Company (\"Coca-Cola\"), PepsiCo, Inc. (\"PepsiCo\")
Monster drinks, Scott and national drinks.
Nesthere is a breakdown of operating profit excluding 1,912 undistributed items: * million CHFPowdered and liquid drinks: 4,502 or 28.
3% water: 636 or 4% dairy and ice cream: 2,799 or 17.
6% nutrition and health care: 1,958 or 12.
3% prepared dishes and cooking aids: 2,041 or 12.
8% candy: 1,782 or 11.
2% PetCare: 2,206 or 13. 9%---------------------------------------------------------------------
Unallocated items 1,912: 15,924 there are different business models for CottCott-
They make manufacturing for other companies.
Here is a description of this in their annual report: We can see that Cott sees itself as more manufacturing and bottling companies by looking at the peer groups they choose in their annual report.
Instead of comparing themselves to KO and DPS, they use a peer group consisting of: Coca-
Cola Enterprise Co. , Ltd. Coca-
Coke bottling company
National Beverage Corporation of America
Pepsi bottle Group Ltd.
PepsiAmericas Inc.
About 3/4 of Cott\'s revenue comes from North America and about 1/4 from the UK.
Cliffstar was acquired in 2010 for just over £ 500.
To a large extent, they make valuable brands, not big promoted brands like cocaCola.
Ingredients and packaging costs are a big factor for Cott.
They rely on commodities such as aluminum, pets, corn, sugar and fruit.
They can\'t raise prices on the cost side because they won\'t end up with a brand that\'s heavily promoted.
So their gross margin is in a different universe.
The company is mainly in North America.
Their Shasta brand is not as popular as Coca-Cola.
Brands like Coke, Pepsi and Dr Pepper Snapple.
Their group of companions is composed of coca.
The Coca-Cola Bottling Company merged with Scott.
MonsterMonster Energy brand drinks account for more than 92% of sales in 2012, so it is safe to say that the company is focused on Energy drinks.
The company does not produce products directly.
The manufacturing process is outsourced to third-party bottlers and contract Packers.
They rely on TCCC North American bottling vendors, AB dealers, new CCE and Coca-
Distribution of Coca-Cola Greece.
Only 22% of sales are outside the US.
The following is net sales by product line: Energy Drinks: 1,906. 236Non-carbonated (
Mainly juice drinks): 110. 217Carbonated (
Mainly Soda drinks): 31. 044Other: 13. 205------------------------------------------------------------Total: 2,060.
Although analysts have repeatedly followed US data when comparing these companies, the closing price of 702.
Beyond the Americas, it is clear that coca
When it comes to sparkling drinks, Coke itself is in a class.
Broke the news: I am a dragon, PEP.
This article was written by myself and expressed my views.
I received no compensation (
In addition to Seeking Alpha).
I have no business relationship with any stock company mentioned in this article.
Supplementary disclosure: no material in this article should be recommended as a formal investment.
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