Coca Cola Femsa (KOF) Financials

Analyzing Coca Cola Femsa's balance sheets for the years ending 2023 and 2022 reveals several key trends and insights valuable to investors:

• Growth in Total Assets: Total assets increased significantly from approximately $14.26 billion in 2022 to $16.18 billion in 2023, indicating expansion and asset base strengthening.
• Increase in Plant, Property & Equipment (Net): The net value of property, plant, and equipment rose sharply from about $3.65 billion in 2022 to $4.66 billion in 2023, suggesting substantial capital investment and capacity expansion.
• Rise in Intangible Assets: Intangible assets increased from approximately $5.29 billion to $5.99 billion, which could reflect acquisitions, brand value enhancement, or investments in intellectual property.
• Growth in Common Equity: Total common equity grew from $6.43 billion in 2022 to $7.52 billion in 2023, indicating increased shareholder value and retained earnings growth.
• Retained Earnings Expansion: Retained earnings saw a healthy increase, moving from $4.55 billion to $5.68 billion, reflecting improved profitability or effective earnings retention.
• Stable Cash and Equivalents: Cash and equivalents decreased slightly from $2.07 billion to $1.84 billion, but remain at a robust level, supporting liquidity.
• Current Liabilities Mix: Total current liabilities increased modestly from $2.97 billion to $3.25 billion, which could indicate higher short-term obligations but still in line with the growth in current assets.
• Noncontrolling Interest Increase: Noncontrolling interests rose from $333 million to $395 million, demonstrating increased minority shareholder stake, which investors should monitor.
• Increase in Short-Term Debt: Short-term debt grew markedly from $511 million to $124 million, though the 2023 figure actually represents a decrease from 2022, so this appears to be a misreading and actually a decrease, negating this negative impact.
• Accumulated Other Comprehensive Loss Expanded: The accumulated other comprehensive income/(loss) deficit widened from approximately $(447) million to $(847) million, which could reflect adverse foreign currency adjustments or other comprehensive losses affecting equity negatively.

Overall, Coca Cola Femsa shows strong asset growth, increased equity, and substantial investments in fixed and intangible assets over the past year. While its comprehensive loss has deepened, the company's balance sheet strength and growing retained earnings suggest a solid financial position heading into 2024.