Vita Coco Company, Inc. COCO
The Vita Coco Company pioneered packaged coconut water in 2004 and we have extended our business into other categories. Our mission is to deliver great tasting, natural and nutritious products that we believe are better for consumers and better for the world. We are one of the largest brands globally in the coconut and other plant waters category, and a large supplier of Private Label coconut water.
Our branded portfolio is led by our Vita Coco brand, which is the leader in the coconut water category in the United States, and also includes coconut oil, juice, and milk offerings. Our portfolio also includes PWR LIFT, a protein-infused fitness drink. We previously offered Runa, a plant-based energy drink inspired by the guayusa plant native to Ecuador, which we ceased selling in December 2023 and impaired all remaining assets in September 2025, and Ever & Ever, a sustainably packaged water, which we ceased producing in 2024. We supply Private Label products to key retailers in both the coconut water and coconut oil categories.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $609.8M | $516.0M | $493.6M | $427.8M | $379.5M | $310.6M | $283.9M | — |
| Cost of revenue | $387.2M | $317.2M | $312.9M | $324.4M | $266.4M | $205.8M | $191.0M | — |
| Gross profit | $222.6M | $198.8M | $180.7M | $103.4M | $113.1M | $104.9M | $93.0M | — |
| R&D | $399.0K | $398.0K | $418.0K | $541.0K | $477.0K | $313.0K | $642.0K | — |
| SG&A | $140.1M | $125.0M | $124.2M | $100.3M | $88.6M | $74.4M | $78.9M | — |
| Total operating expenses | $140.1M | $125.0M | $124.2M | $100.3M | $88.6M | $58.0M | $79.6M | — |
| Operating income | $82.5M | $73.8M | $56.5M | $3.1M | $24.6M | $46.9M | $13.4M | — |
| Interest expense | — | $0 | $31.0K | $258.0K | $360.0K | $791.0K | $1.2M | — |
| Pre-tax income | $93.0M | $70.8M | $57.9M | $10.8M | $24.2M | $43.6M | $11.4M | — |
| Income tax | $21.7M | $14.8M | $11.3M | $3.0M | $5.2M | $10.9M | $2.0M | — |
| Net income | $72.7M | $56.0M | $46.6M | $7.8M | $19.0M | $32.7M | $9.4M | — |
| EPS, basic | 1.25 | 0.99 | 0.83 | 0.14 | 0.35 | 0.56 | 0.17 | — |
| EPS, diluted | 1.19 | 0.94 | 0.79 | 0.14 | 0.35 | 0.56 | 0.16 | — |
| Shares, diluted (wtd. avg.) | $60.0M | $59.3M | $58.7M | $56.1M | $54.2M | $58.6M | $57.2M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $196.9M | $164.7M | $132.9M | $19.6M | $28.7M | $72.2M | $36.7M | $25.5M |
| Receivables | $81.5M | $63.5M | $50.1M | $43.4M | $47.2M | $30.5M | — | — |
| Inventory | $111.5M | $83.6M | $50.8M | $84.1M | $75.4M | $32.0M | — | — |
| Total current assets | $421.4M | $341.3M | $262.9M | $174.9M | $173.3M | $159.1M | — | — |
| Property, plant and equipment | $9.3M | $2.4M | $2.1M | $2.1M | $2.5M | $2.9M | — | — |
| Goodwill | $7.8M | $7.8M | $7.8M | $7.8M | $7.8M | $7.8M | — | — |
| Other intangibles | — | — | $0 | $0 | $7.9M | $9.2M | — | — |
| Total assets | $461.2M | $362.4M | $285.7M | $197.8M | $197.5M | $183.9M | — | — |
| Accounts payable | $25.5M | $30.8M | $21.8M | $15.9M | $28.3M | $15.8M | — | — |
| Total current liabilities | $116.4M | $103.3M | $82.6M | $54.3M | $74.0M | $55.7M | — | — |
| Total liabilities | $129.6M | $103.6M | $83.2M | $56.7M | $74.3M | $81.6M | — | — |
| Retained earnings | $228.0M | $156.7M | $100.7M | $55.2M | $47.4M | $28.4M | — | — |
| Total equity | $331.5M | $258.8M | $202.4M | $141.1M | $123.2M | $102.3M | $73.8M | $61.3M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $47.2M | $42.9M | $107.2M | -$10.9M | -$16.2M | $33.3M | $21.8M | — |
| Depreciation and amortisation | $1.1M | $745.0K | $660.0K | $681.0K | $849.0K | $905.0K | $846.0K | — |
| Stock-based compensation | $10.8M | $8.9M | $9.1M | $7.4M | $3.4M | $1.5M | $2.2M | — |
| Capital expenditure | $8.1M | $974.0K | $599.0K | $982.0K | $557.0K | $392.0K | $1.0M | — |
| Investing cash flow | -$8.3M | -$974.0K | -$594.0K | -$982.0K | -$557.0K | -$375.0K | -$1.0M | — |
| Financing cash flow | -$7.5M | -$8.3M | $6.3M | $3.0M | -$26.8M | $2.0M | -$10.4M | — |
| Buybacks | $11.3M | $12.0M | $773.0K | $0 | $50.0M | $6.9M | $37.0K | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001482981-26-000107.
Others in SIC 2080
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| KO | COCA COLA CO | $378.92B | 29.0x | 1.9% |
| PEP | PEPSICO INC | $187.85B | 22.9x | 2.3% |
| KDP | Keurig Dr Pepper Inc. | $44.35B | 21.3x | 8.2% |
| BF-B | BROWN FORMAN CORP | $12.26B | 17.5x | -1.2% |
| PRMB | Primo Brands Corp | $7.97B | 137.5x | 29.3% |
| BRCC | BRC Inc. | $1.03B | — | 1.7% |
| WEST | Westrock Coffee Co | $756.6M | — | 39.8% |
| BUDA | BUDA JUICE, INC. | $99.3M | 39.5x | 11.8% |