{
 "company": "The Coca-Cola Company",
 "ticker": "KO",
 "sector": "Tobacco",
 "fiscalYearEnd": null,
 "revenueUsdM": 47941.0,
 "normalizedSga": {
  "pctRevenue": 19.03,
  "peerCount": 22,
  "peerMedianPctRevenue": 19.0,
  "peerLeanQuartilePctRevenue": 13.3,
  "peers": [
   {
    "ticker": "PM",
    "name": "Philip Morris International Inc.",
    "normalizedSgaPctRevenue": 0.4
   },
   {
    "ticker": "PEP",
    "name": "PepsiCo, Inc.",
    "normalizedSgaPctRevenue": 33.14
   },
   {
    "ticker": "MDLZ",
    "name": "Mondelez International, Inc.",
    "normalizedSgaPctRevenue": 13.28
   },
   {
    "ticker": "CL",
    "name": "Colgate-Palmolive Company",
    "normalizedSgaPctRevenue": 23.72
   },
   {
    "ticker": "KDP",
    "name": "Keurig Dr Pepper Inc.",
    "normalizedSgaPctRevenue": 28.02
   },
   {
    "ticker": "KVUE",
    "name": "Kenvue Inc.",
    "normalizedSgaPctRevenue": 25.59
   },
   {
    "ticker": "HSY",
    "name": "The Hershey Company",
    "normalizedSgaPctRevenue": 15.28
   },
   {
    "ticker": "EL",
    "name": "The Estée Lauder Companies Inc.",
    "normalizedSgaPctRevenue": 66.01
   },
   {
    "ticker": "CHD",
    "name": "Church & Dwight Co., Inc.",
    "normalizedSgaPctRevenue": 13.58
   },
   {
    "ticker": "STZ",
    "name": "Constellation Brands, Inc.",
    "normalizedSgaPctRevenue": 10.73
   },
   {
    "ticker": "BF-B",
    "name": "Brown-Forman Corporation",
    "normalizedSgaPctRevenue": 20.54
   },
   {
    "ticker": "CLX",
    "name": "The Clorox Company",
    "normalizedSgaPctRevenue": 15.82
   },
   {
    "ticker": "TAP",
    "name": "Molson Coors Beverage Company",
    "normalizedSgaPctRevenue": 11.84
   },
   {
    "ticker": "TPB",
    "name": "Turning Point Brands, Inc.",
    "normalizedSgaPctRevenue": 48.39
   },
   {
    "ticker": "UVV",
    "name": "Universal Corporation",
    "normalizedSgaPctRevenue": 10.42
   },
   {
    "ticker": "ISPR",
    "name": "Ispire Technology Inc.",
    "normalizedSgaPctRevenue": 29.88
   },
   {
    "ticker": "PYYX",
    "name": "Pyxus International, Inc.",
    "normalizedSgaPctRevenue": 8.82
   },
   {
    "ticker": "PG",
    "name": "The Procter & Gamble Company",
    "normalizedSgaPctRevenue": 13.49
   },
   {
    "ticker": "CELH",
    "name": "Celsius Holdings, Inc.",
    "normalizedSgaPctRevenue": 18.98
   },
   {
    "ticker": "IPAR",
    "name": "Inter Parfums, Inc.",
    "normalizedSgaPctRevenue": 29.01
   },
   {
    "ticker": "TR",
    "name": "Tootsie Roll Industries, Inc.",
    "normalizedSgaPctRevenue": 20.71
   }
  ],
  "definition": "Reported SG&A less the disclosed lines that distort comparison: advertising, R&D, pension, stock-based compensation, restructuring and one-time items, plus logistics reclassed where filers park it in SG&A."
 },
 "disclosedLines": [
  {
   "key": "advertising",
   "label": "Advertising",
   "pctRevenue": 11.26,
   "companiesDisclosing": 17,
   "peersDisclosing": [
    {
     "ticker": "PEP",
     "pctRevenue": 5.75
    },
    {
     "ticker": "MDLZ",
     "pctRevenue": 4.29
    },
    {
     "ticker": "CL",
     "pctRevenue": 13.26
    },
    {
     "ticker": "KDP",
     "pctRevenue": 3.79
    },
    {
     "ticker": "KVUE",
     "pctRevenue": 12.14
    },
    {
     "ticker": "HSY",
     "pctRevenue": 5.23
    },
    {
     "ticker": "CHD",
     "pctRevenue": 11.43
    },
    {
     "ticker": "STZ",
     "pctRevenue": 9.49
    },
    {
     "ticker": "BF-B",
     "pctRevenue": 11.76
    },
    {
     "ticker": "CLX",
     "pctRevenue": 10.84
    },
    {
     "ticker": "TAP",
     "pctRevenue": 8.44
    },
    {
     "ticker": "TPB",
     "pctRevenue": 10.43
    },
    {
     "ticker": "PG",
     "pctRevenue": 10.92
    },
    {
     "ticker": "CELH",
     "pctRevenue": 12.68
    },
    {
     "ticker": "IPAR",
     "pctRevenue": 22.36
    },
    {
     "ticker": "TR",
     "pctRevenue": 0.79
    }
   ],
   "note": "Brand spend is not the overhead question here."
  },
  {
   "key": "stock_comp",
   "label": "Stock-based comp",
   "pctRevenue": 0.58,
   "companiesDisclosing": 20,
   "peersDisclosing": [
    {
     "ticker": "PEP",
     "pctRevenue": 0.31
    },
    {
     "ticker": "MDLZ",
     "pctRevenue": 0.3
    },
    {
     "ticker": "CL",
     "pctRevenue": 0.76
    },
    {
     "ticker": "KDP",
     "pctRevenue": 0.58
    },
    {
     "ticker": "KVUE",
     "pctRevenue": 0.9
    },
    {
     "ticker": "HSY",
     "pctRevenue": 0.56
    },
    {
     "ticker": "EL",
     "pctRevenue": 2.12
    },
    {
     "ticker": "CHD",
     "pctRevenue": 0.94
    },
    {
     "ticker": "STZ",
     "pctRevenue": 0.74
    },
    {
     "ticker": "BF-B",
     "pctRevenue": 0.81
    },
    {
     "ticker": "CLX",
     "pctRevenue": 1.14
    },
    {
     "ticker": "TAP",
     "pctRevenue": 0.27
    },
    {
     "ticker": "TPB",
     "pctRevenue": 2.45
    },
    {
     "ticker": "UVV",
     "pctRevenue": 0.25
    },
    {
     "ticker": "ISPR",
     "pctRevenue": 4.39
    },
    {
     "ticker": "PYYX",
     "pctRevenue": 0.05
    },
    {
     "ticker": "PG",
     "pctRevenue": 0.56
    },
    {
     "ticker": "CELH",
     "pctRevenue": 1.12
    },
    {
     "ticker": "IPAR",
     "pctRevenue": 0.12
    }
   ],
   "note": "Right at the peer median. Not distorting the overhead picture."
  }
 ],
 "gapToPeers": null,
 "tsrBridge": [
  {
   "label": "1 year",
   "span": "FY2024 to FY2025",
   "companyTsrPct": 16,
   "peerTsrPct": 5,
   "driverPp": {
    "Revenue growth": -20.6,
    "Gross margin": 23.2,
    "SG&A": 8.8,
    "Multiple": 7.5,
    "Other": -8.6
   }
  },
  {
   "label": "3 years",
   "span": "FY2022 to FY2025",
   "companyTsrPct": 20,
   "peerTsrPct": 25,
   "driverPp": {
    "Revenue growth": -9.2,
    "Gross margin": 9.5,
    "SG&A": 11.3,
    "Multiple": -13.9,
    "Other": -2.0
   }
  },
  {
   "label": "5 years",
   "span": "FY2020 to FY2025",
   "companyTsrPct": 48,
   "peerTsrPct": 33,
   "driverPp": {
    "Revenue growth": 8.4,
    "Gross margin": 15.5,
    "SG&A": -10.8,
    "Multiple": -5,
    "Other": 7.4
   }
  },
  {
   "label": "10 years",
   "span": "FY2016 to FY2025",
   "companyTsrPct": 124,
   "peerTsrPct": 140,
   "driverPp": {
    "Revenue growth": -72.4,
    "Gross margin": 18.6,
    "SG&A": 68.5,
    "Multiple": -163.7,
    "Other": 132.6
   }
  }
 ],
 "recentQuarter": null,
 "sources": [
  "10-K and 10-Q filings (US GAAP)",
  "XBRL company facts",
  "earnings releases"
 ],
 "urls": {
  "briefing": "https://sgabenchmarking.com/r/KO",
  "json": "https://sgabenchmarking.com/r/KO.json",
  "industryBenchmarks": "https://sgabenchmarking.com/catalog.json"
 },
 "publisher": "SG&A Benchmarking, https://sgabenchmarking.com"
}