Two companies grew 4.2%. Only one of them sold more
Ten reported growth figures from six consumer companies, each split into price and volume. The headline number is the same and the businesses underneath are not — which is why a variance report that stops at the total tells you nothing.
- Source
- Unilever, Nestlé, Danone, Reckitt, Diageo and Coca-Cola published results
- Period
- H1 and Q2 2026 reporting
- Published
- August 14, 2026
- Built with
- Databoat
87.50%
of its growth came from selling more rather than charging more — while Reckitt, reporting an almost identical headline figure, managed 19%
Unilever · H1 2026
- Reckitt · H1 202618.52%
- Diageo · H1 FY2632.14%
- Nestlé · H1 202641.67%
- Danone · Q2 202645.24%
- Reckitt · Q2 202647.62%
- Danone · H1 202648.57%
- Nestlé · Q2 202648.65%
- Danone · Q1 202655.56%
- Coca-Cola · Q2 202666.67%
- Unilever · H1 202687.50%
Each point is one reported period (n=10). Horizontal: percentage points of growth from volume. Vertical: percentage points from price and mix.
Hover a point
Points to the right grew by selling more. Points high on the axis grew by charging more. Unilever and Reckitt both reported growth in the low-to-mid single digits and sit at opposite ends of the chart — one sold 4.2 points more product, the other sold 0.5 points more and priced the rest.
Diageo sits alone in the negative quadrant: falling volume and falling price at once.
Basis — what this measures
- Sources
- Published half-year and quarterly results from Unilever, Nestlé, Danone, Reckitt, Diageo and Coca-Cola. Figures are each company’s own disclosed decomposition, not estimates.
- Period
- H1 2026 and Q2 2026 reporting, except Diageo, whose H1 FY26 covers the half year ended 31 December 2025
- Grain
- One row per company reporting period. Some companies appear more than once because they disclose both quarterly and half-year splits.
- Excludes
- Currency and acquisition effects, which sit outside organic growth by definition. Definitions are not perfectly uniform — Nestlé reports volume as RIG, Reckitt and Coca-Cola combine mix into price, and Reckitt’s figures are for Core Reckitt. Coca-Cola’s volume line is concentrate sales.
Movement — why the number is what it is
Left mark: percentage points from volume. Right mark: percentage points from price and mix. The bar is the distance between them.
- Reckitt · H1 20260.50%→2.20%
- Nestlé · H1 20261.50%→2.10%
- Danone · Q2 20261.90%→2.30%
- Reckitt · Q2 20262.00%→2.20%
- Danone · H1 20261.70%→1.80%
- Nestlé · Q2 20261.80%→1.90%
- Danone · Q1 20261.50%→1.20%
- Diageo · H1 FY26-0.90%→-1.90%
- Coca-Cola · Q2 20264.00%→2.00%
- Unilever · H1 20264.20%→0.60%
A long bar means the growth is lopsided. Reckitt H1 is the most price-dependent figure here — 2.2 points of its 2.7 came from pricing, meaning almost none of the growth was extra product going out of the door.
Volume ÷ organic growth, as a percentage. Higher means more of the growth came from selling more units.
- Unilever · H1 202687.50%
- Coca-Cola · Q2 202666.67%
- Danone · Q1 202655.56%
- Nestlé · Q2 202648.65%
- Danone · H1 202648.57%
- Reckitt · Q2 202647.62%
- Danone · Q2 202645.24%
- Nestlé · H1 202641.67%
- Diageo · H1 FY2632.14%
- Reckitt · H1 202618.52%
The range runs from 88% to 19%. Two businesses reporting the same number can be in opposite conditions, and nothing in the headline figure distinguishes them.
Reported organic or like-for-like growth, percent.
- Coca-Cola · Q2 20266.00%
- Unilever · H1 20264.80%
- Danone · Q2 20264.20%
- Reckitt · Q2 20264.20%
- Nestlé · Q2 20263.70%
- Nestlé · H1 20263.60%
- Danone · H1 20263.50%
- Danone · Q1 20262.70%
- Reckitt · H1 20262.70%
- Diageo · H1 FY26-2.80%
Ranked on the number every summary leads with. Danone Q2 and Reckitt Q2 are tied at 4.2% — and the two figures describe different businesses.
Price ÷ organic growth, as a percentage, across all ten reported periods.
Most of the set sits between 50% and 60% — the post-inflation norm of growth roughly half-priced. The outliers in both directions are the interesting readings, and they are invisible without the split.
Ties — the numbers reconcile
- Exact, 10 of 10
Volume plus price reconciles to the organic growth each company reported
volume + price − organic = 0, all rows - Exact
The two shares account for the whole of each growth figure
volShare + priceShare = 100% - Read with care
Shares of a negative total invert in meaning
Diageo organic is −2.8%, so its shares describe the decline, not growth - Stated, not adjusted
Definitions are not uniform across the six companies
RIG vs volume vs concentrate sales; mix folded into price by three of six
Method
Six consumer companies, ten reported periods, three published numbers each: organic growth and its split into volume and price. Databoat derived the unexplained residual and the share of each figure attributable to selling more against charging more.
Nothing here is estimated. Every company in this set publishes the decomposition itself, because investors demand it — and that is the point of the report. This analysis is standard practice at listed-company scale and almost absent from small-business reporting, not because it is difficult but because it needs unit volumes, and a general ledger does not hold them.
Why this is the report that matters
A variance report that says revenue rose 4.2% is not an answer, it is a prompt. Growth from selling more product means demand. Growth from charging more means pricing power, or inflation being passed on, or both — and it usually cannot be repeated indefinitely.
Two of the figures in this set are exactly 4.2%. One is 45% volume, the other 48% — but at the half-year those same two companies read 49% and 19%. The headline is identical and the diagnosis is not.
What this doesn't tell you
The six companies do not define their terms identically. Nestlé reports volume as RIG. Coca-Cola's volume line is concentrate sales rather than cases. Three of the six fold mix into price, so a shift toward premium products reads as pricing rather than as a change in what was sold. These differences are stated rather than adjusted away, because adjusting them would mean substituting our judgement for the companies' own disclosure.
Diageo's figures are negative, so its shares describe how a decline divided rather than how growth did.
Why we published this
Every derived column here states its formula, and the reconciliation above shows the split reproducing each reported total exactly, ten times out of ten. Switch to Data at the top of the page and check any of it against the source filings.
Unilever results · Nestlé half-year 2026 · Danone H1 2026 · Reckitt half-year 2026 · Diageo interim results · Coca-Cola Q2 2026
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