# The Vita Coco Company, Inc. (COCO)

> Source: Nexqual · https://nexqual.com/COCO · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, The Vita Coco Company, Inc. (COCO), nexqual.com/COCO" · informational, not investment advice.

**Price:** USD 59 (-7.09% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 63.5 · day 57.81–63.09 · 52w 39.6–85.83 · market cap $3.41B · NMS

## Key facts
- Last four reported quarters (through Sep 30, 2026): revenue $768M, net income $120M (15.7% margin), free cash flow $144M (SEC filings).
- Valuation: P/E 28.3x (avg 38.7x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold COCO (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 19 Form 4 filings, $55.3M; 0 not under a Rule 10b5-1 plan ($0K); 1 by opportunistic insiders (0 outside 10b5-1 plans), 9 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.17 on a 1–5 scale) (12 analysts), mean target USD 79.1 (range 65–90).
- Total return with dividends: 1Y +44.4% vs S&P 500 +14.9%; 5Y +322.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-22, EPS estimate USD 0.22, revenue estimate $178M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $380M | $428M | $494M | $516M | $610M | $768M |
| Gross profit | $113M | $103M | $181M | $199M | $223M | — |
| Operating income | $24.6M | $3.1M | $56.5M | $73.8M | $82.5M | $152M |
| Net income | $19.0M | $7.8M | $46.6M | $56.0M | $71.3M | $120M |
| EPS (diluted) | $0.35 | $0.14 | $0.79 | $0.94 | $1.19 | — |
| Free cash flow | -$16.7M | -$11.9M | $107M | $41.9M | $39.0M | $144M |
| Gross margin | 29.8% | 24.2% | 36.6% | 38.5% | 36.5% | — |
| Operating margin | 6.5% | 0.7% | 11.4% | 14.3% | 13.5% | 19.9% |
| Net margin | 5.0% | 1.8% | 9.4% | 10.8% | 11.7% | 15.7% |
| Revenue growth | +22.2% | +12.7% | +15.4% | +4.5% | +18.2% | — |
| Cash + short-term investments | $28.7M | $19.6M | $133M | $165M | $197M | — |
| Total debt | $48K | $25K | $13K | $3K | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Sep 30, 2026)
P/E 28.3x · P/S 4.5x · P/FCF 23.7x · P/B 8.0x · FCF yield 4.22% · Earnings yield 3.53% · Buyback yield (TTM) 1.86%
P/E at fiscal year-ends: Dec 2025 44.6x, Dec 2024 39.1x, Dec 2023 32.3x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold COCO. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.03% | $3.4M | Reduced -32.9% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
19 of 19 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-17 | Sadowsky Kenneth | Director | 3,900 | $323K | 0.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-12 | Liran Ira | Director | 148,074 | $11.9M | 17.2% | Yes | Routine (sold in Sep each year 2023–2025; this trade is outside those months) |
| 2026-06-11 | Liran Ira | Director | 191,926 | $15.2M | 18.2% | Yes | Routine (sold in Sep each year 2023–2025; this trade is outside those months) |
| 2026-06-11 | Burth Jonathan | Chief Operating Officer | 30,000 | $2.4M | 34.1% | Yes | Routine (sold in Sep & Nov each year 2023–2025; this trade is outside those months) |
| 2026-06-01 | Van Es Charles | Chief Commercial Officer | 8,045 | $604K | 12% | Yes | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-05-20 | Sadowsky Kenneth | Director | 3,900 | $302K | 0.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-05-12 | Burth Jonathan | Chief Operating Officer | 30,000 | $2.3M | 34.1% | Yes | Routine (sold in Sep & Nov each year 2023–2025; this trade is outside those months) |
| 2026-05-08 | Burth Jonathan | Chief Operating Officer | 20,000 | $1.4M | 25.7% | Yes | Routine (sold in Sep & Nov each year 2023–2025; this trade is outside those months) |
| 2026-05-08 | Van Es Charles | Chief Commercial Officer | 8,561 | $599K | 11.3% | Yes | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-05-01 | Van Es Charles | Chief Commercial Officer | 2,000 | $134K | 2.6% | Yes | Routine (sold in Nov each year 2023–2025; this trade is outside those months) |
| 2026-04-30 | Kirban Michael | Executive Chairman | 50,000 | $3.4M | 2.3% | Yes | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-04-29…2026-04-30 | Burth Jonathan | Chief Operating Officer | 60,000 | $3.9M | 50.9% | Yes | Routine (sold in Sep & Nov each year 2023–2025; this trade is outside those months) |
| 2026-04-28…2026-04-29 | Roper Martin | Chief Executive Officer | 45,544 | $2.5M | 4.4% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-24…2026-04-27 | Roper Martin | Chief Executive Officer | 50,000 | $2.5M | 4.8% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-16 | Roper Martin | Chief Executive Officer | 25,000 | $1.3M | 2.5% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-14…2026-04-15 | Roper Martin | Chief Executive Officer | 50,000 | $2.5M | 4.8% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-15 | Sadowsky Kenneth | Director | 3,900 | $191K | 0.7% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-04-10…2026-04-13 | Roper Martin | Chief Executive Officer | 29,456 | $1.5M | 2.9% | Yes | Too little history (no open-market trades in 2023) |
| 2026-04-07…2026-04-08 | Roper Martin | Chief Executive Officer | 50,000 | $2.5M | 4.8% | Yes | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.17 on a 1–5 scale), 12 analysts; mean target USD 79.1 (low 65, high 90).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-05 | Wells Fargo | Target lowered | Overweight | $85 → $65 |
| 2026-10-01 | Oppenheimer | Initiated | Outperform | $70 |
| 2026-09-10 | Piper Sandler | Target lowered | Overweight | $89 → $83 |
| 2026-07-28 | Morgan Stanley | Target raised | Equal-Weight | $65 → $68 |
| 2026-07-24 | Piper Sandler | Target raised | Overweight | $74 → $89 |
| 2026-07-09 | Piper Sandler | Target raised | Overweight | $70 → $74 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +44.4% | +322.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +44.6% | +33.3% |
| Volatility (annualized) | 55.0% | 50.9% |
| Max drawdown | -39.7% (Jun 2026→Oct 2026) | -45.7% (Nov 2021→Mar 2022) |

## Peers (Beverages - Non-Alcoholic)
FIZZ (National Beverage Corp.) USD 37.07 +6.43% · AKO-B (Embotelladora Andina S.A.) USD 30.01 +0.07% · CELH (Celsius Holdings, Inc.) USD 28.36 +0.18% · PRMB (Primo Brands Corporation) USD 20.14 +0.55% · COKE (Coca-Cola Consolidated, Inc.) USD 214.93 +2.50% · SUJA (Suja Life, Inc.) USD 9.71 +0.62%

## More
Full page: https://nexqual.com/COCO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in COCO's own 10-K filed 2026-02-18 (https://www.sec.gov/Archives/edgar/data/1482981/000148298126000022/coco-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Amazon (AMZN) | "We derive a significant portion of our revenue from our network of domestic and international distributors and retail customers (whether serviced directly or through distributors), including club stores, major mass merch…" |
| Customer | Public Benefit | "See "—Risks Related to our Existence as a Public Benefit Corporation." There has been increasing public focus by investors, customers, environmental activists, the media and governmental and nongovernmental organizations…" |
| Partner | Coco Ventures | "In China, we sell through a joint venture with the Jebsen Group, Coco Ventures Limited, which provides for the development, marketing, distribution and branding of coconut water-based products under the Vita Coco brand i…" |
| Competitor | Coca-Cola (KO) | "Our competitors in the beverage market include large beverage companies such as The Coca-Cola Company, PepsiCo, Inc., and Nestlé S.A. that may have substantially greater financial resources and stronger brand recognition…" |
| Competitor | PepsiCo (PEP) | "Our competitors in the beverage market include large beverage companies such as The Coca-Cola Company, PepsiCo, Inc., and Nestlé S.A. that may have substantially greater financial resources and stronger brand recognition…" |

## Revenue by business segment (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $198.6M | 81.4% | +30.9% |
| International | $45.3M | 18.6% | +48.0% |
| Total revenue | $243.8M | 100% | — |

## Revenue by product line (quarter ended 2026-09-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Vita Coco Coconut Water | $143.3M | 58.8% | +8.2% |
| Private Label | $46.5M | 19.1% | +223.8% |
| Other | $8.8M | 3.6% | +78.4% |
| Total revenue | $243.8M | 100% | — |
The lines above cover 81.4% of total revenue.

## Revenue by region (quarter ended 2026-03-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $136.0M | 75.6% | +29.4% |
| All other countries | $24.6M | 13.7% | +94.2% |
| United Kingdom | $19.2M | 10.7% | +45.9% |
| Total revenue | $179.8M | 100% | — |

## Customer concentration

Period ended 2026-09-30: 23%, 22% of revenue from unnamed direct customers (10-Q, filed 2026-10-22).

## Company outlook (8-K filed 2026-10-22)

- "Organic Net Sales Growth 1 of 18% Net Income Increased $11 million to $35 million and Non-GAAP Adjusted EBITDA² Increased $21 million to $53 million Raises Fiscal Year 2026 Guidance for Net Sales to Between $810 Million and $820 Million and Non-GAAP Adjusted EBITDA² to between $170 million and $175 million NEW YORK, NY – October 22, 2026 – The Vita Coco Company, Inc."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.22 | $0.22 | +0.0% | $178.0M | 1 |
| Next quarter (ends 2027-03-31) | $0.55 | $0.00 | — | $227.4M | 1 |
| Current fiscal year (ends 2026-12-31) | $2.06 | $2.03 | +1.7% | $817.0M | 2 |
| Next fiscal year (ends 2027-12-31) | $2.33 | $2.34 | -0.6% | $989.5M | 2 |

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 53.7% | ±12.3% |
| 2026-12-18 | 56 | 46.2% | ±14.8% |
| 2027-01-15 | 84 | 46.6% | ±18.2% |
| 2027-04-16 | 175 | 48.1% | ±26.9% |