Coca-Cola vs Wipro: Revenue, Profit and Business Model
Coca-Cola reported $47.9B of revenue in FY2025 and $13.1B of net income. Wipro reported ~$10.7B of revenue in FY2026 and ~$1.5B of net income.
Latest financial snapshot
Financial summary
Coca-Cola
Coca-Cola's financial profile comes from its asset-light franchise model. It sells concentrates and syrups to independent bottlers, which own the capital-intensive plants, trucks and coolers, so the parent company keeps high margins on a relatively small asset base. FY2025 revenue was $47.941 billion with $13.107 billion in net income, up from $47.061 billion in revenue in 2024. In Q2 2026, net revenue grew 7% to $13.4 billion and comparable EPS rose 11% to $0.97. That cash supports the dividend: in February 2026 the board approved a 64th consecutive annual increase, to $0.53 per quarter. Berkshire Hathaway has held 400 million shares since the early 1990s, making it the largest single shareholder.
Wipro
In FY2026 Wipro reported gross revenue of Rs 926.2 billion and net income of Rs 132.0 billion. IT services revenue was about $10.48 billion, roughly level with the year before, and the IT services operating margin was 17.2%. Fourth-quarter gross revenue was Rs 242.4 billion, up 7.7% year over year, and quarterly net income was Rs 35.0 billion, down 1.9%. With the Q4 results in April 2026, the board approved a Rs 150 billion share buyback. In Q1 FY2027, gross revenue rose 10.6% year over year to Rs 244.8 billion. IT services revenue fell 1.4% sequentially to $2,614.5 million, and net income was Rs 33.6 billion ($354.6 million), up 0.6% year over year.
Revenue and profit by year
Coca-Cola
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $47.9B | $13.1B | 27.3% | +1.9% | Source |
| FY2024 | $47.1B | — | 0.0% | +2.9% | Source |
| FY2023 | $45.8B | $10.7B | 23.4% | +6.4% | Source |
| FY2022 | $43B | $9.5B | 22.2% | +11.3% | Source |
| FY2021 | $38.7B | — | 0.0% | +17.1% | Source |
| FY2020 | $33B | — | 0.0% | -11.4% | Source |
| FY2019 | $37.3B | $8.9B | 23.9% | — | Source |
Wipro
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$10.7B | ~$1.5B | 14.2% | +4.0% | Source |
| FY2025 | ~$10.3B | ~$1.5B | 14.7% | -0.7% | Source |
| FY2024 | ~$10.4B | ~$1.3B | 12.3% | -0.8% | Source |
| FY2023 | ~$10.5B | ~$1.3B | 12.5% | +14.4% | Source |
| FY2022 | ~$9.2B | ~$1.4B | 15.4% | +27.7% | Source |
| FY2021 | ~$7.2B | ~$1.3B | 17.4% | +1.5% | Source |
| FY2020 | ~$7.1B | ~$1.1B | 15.9% | +4.2% | Source |
| FY2019 | ~$6.8B | ~$1B | 15.4% | +7.5% | Source |
| FY2018 | ~$6.3B | ~$928.9M | 14.7% | -1.0% | Source |
| FY2017 | ~$6.4B | ~$984.8M | 15.4% | +7.4% | Source |
| FY2016 | ~$5.9B | ~$1B | 17.4% | — | Source |
Where the revenue comes from
Coca-Cola
- Concentrate operations
Roughly 55-60% of net operating revenue
Sales of concentrates, syrups and beverage bases to authorized bottlers and fountain customers; the high-margin core of the model.
- Finished product operations
Roughly 40-45% of net operating revenue
Company-owned bottling operations, Costa Coffee, fairlife and other businesses that sell finished beverages directly to retailers and distributors.
Wipro
- IT Services~99%
Consulting, application, cloud, infrastructure, engineering, and business process services. This segment accounts for nearly all of Wipro's revenue.
- IT Products~1%
Resale of third-party hardware and software, mainly in India. The segment is small and has been shrinking.
Business model and strategy
Coca-Cola
How it makes money
Coca-Cola runs a franchise model. The company develops or acquires beverage recipes and runs global marketing, including sponsorships such as the Olympics. It earns revenue by selling concentrate to independent bottling companies around the world, such as Coca-Cola Europacific Partners. The bottlers add water, package the drinks and handle distribution, and pay Coca-Cola for the right to sell its brands.
Growth strategy
Coca-Cola calls itself a 'total beverage company': it keeps trademark Coca-Cola and Coca-Cola Zero Sugar at the center while building scale in coffee (Costa), sports hydration (BodyArmor, Powerade), premium water (Smartwater, Topo Chico) and value-added dairy (fairlife).
Competitive advantage
Coca-Cola's advantage is its brand and its distribution network. Its products reach even very remote places through a system of bottlers, trucks and independent shopkeepers that took more than a century to build. A new drinks company can develop a product people like, but it cannot quickly match Coca-Cola's reach into shops and refrigerators worldwide.
Wipro
How it makes money
Wipro earns most of its revenue from its IT services segment: multi-year contracts to build, run, and modernize enterprise software and infrastructure, plus consulting, cloud migration, cybersecurity, engineering services, and business process work. Contracts are priced as time-and-materials, fixed-price, or managed-service deals.
Growth strategy
Under Srini Pallia, Wipro is focusing on large deals, consulting-led selling, AI-enabled delivery through its ai360 program, and growth in its biggest client accounts. In 2025 it agreed to acquire Harman's Digital Transformation Solutions unit to add engineering services capacity.
Competitive advantage
Wipro's strengths are long-standing client relationships, a large India delivery base, engineering services depth, Capco's position in financial services consulting, a net cash balance sheet, and stable Premji family control.
Questions about Coca-Cola vs Wipro
Which company has higher revenue — The Coca-Cola Company or Wipro Limited?
The Coca-Cola Company reported $47.9B (FY2025), while Wipro Limited reported ~$10.7B (FY2026). By last reported revenue, The Coca-Cola Company is the larger business, with Wipro Limited reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of The Coca-Cola Company vs Wipro Limited?
The Coca-Cola Company's market capitalisation stands at $379.0B, while Wipro Limited's is $28.0B. The Coca-Cola Company carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Wipro Limited.
Which is more financially efficient — The Coca-Cola Company or Wipro Limited?
The Coca-Cola Company generates $727k / employee in revenue per employee, while Wipro Limited generates $47k / employee. The Coca-Cola Company shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do The Coca-Cola Company and Wipro Limited make money?
The Coca-Cola Company and Wipro Limited generate revenue in fundamentally different ways. The Coca-Cola Company: Coca-Cola runs a franchise model. Wipro Limited: Wipro earns most of its revenue from its IT services segment: multi-year contracts to build, run, and modernize enterprise software and infrastructure, plus consulting, cloud migration, cybersecurity, engineering services, and business process work.
Which company is valued higher relative to revenue — The Coca-Cola Company or Wipro Limited?
On a price-to-sales (P/S) basis, The Coca-Cola Company trades at 7.9x P/S and Wipro Limited at 2.6x P/S. The Coca-Cola Company commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Wipro Limited. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is The Coca-Cola Company bigger than Wipro Limited?
By last reported revenue, The Coca-Cola Company ($47.9B (FY2025)) is the larger company compared to Wipro Limited (~$10.7B (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Coca-Cola vs Wipro overview