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Coca-Cola Europacific Partners plc (CCEP)

Valor Justo
Consumer DefensiveBeverages - Non-AlcoholicUnited Kingdom

Fundamental

61

Precio

$101.71

Capitalización Bursátil

$44.14B

Parte 1 · Cuánto vale la empresa

Resumen

Coca-Cola Europacific Partners does not make Coca-Cola's recipe or set its marketing; it is the independent bottler that turns concentrate supplied by The Coca-Cola Company into finished drinks and gets them onto shelves and into fridges across Europe, Australia, the Pacific and Indonesia. It owns the factories, trucks and delivery routes, negotiates with individual retailers, and also bottles some Coca-Cola-owned brands like Costa Coffee alongside sparkling and still drinks under long-term bottling agreements.

Cómo genera ingresos

Revenue is unit case volume multiplied by price, shaped by which brands, package sizes and sales channels each case comes from: a can sold through a vending machine or a bar earns a different margin than a large bottle sold in a supermarket. CCEP owns the manufacturing, packaging and delivery, letting it capture wholesale and retail margin, but it pays for concentrate and shares brand investment with The Coca-Cola Company, so its own pricing and product decisions stay bounded by the bottling agreement.

Ingresos por segmento

Europe74.4%

Bottling and distribution across most of Western and parts of Central Europe, CCEP's original and largest geography.

Asia-Pacific and Indonesia25.6%

Bottling and distribution in Australia, the Pacific islands, the Philippines and Indonesia, added through mergers that turned CCEP from a European into a global bottler.

Ventaja competitiva

Escala · Estrecha

Owning the region's densest bottling plants and delivery routes for Coca-Cola brands is expensive to replicate, and the long-term bottling agreements give CCEP exclusivity in its territories. The advantage is narrow rather than wide because it depends entirely on The Coca-Cola Company continuing to want CCEP as its bottler and on Coca-Cola brands themselves staying popular; CCEP has no control over the product's formulation or brand strategy.

Qué impulsa la demanda

Defensivo

Soft drinks are a low-ticket, habitual purchase that people keep buying through recessions, which makes overall volume fairly steady. The more variable part is mix: consumers can trade down from premium packages or immediate-consumption channels like bars and vending toward cheaper large-format packs at the supermarket, which lowers average price even if volume holds up.

Riesgos clave

  • Dependence on The Coca-Cola Company — Nearly all of CCEP's revenue comes from Coca-Cola-branded products, and it is the sole supplier of the concentrates and syrups needed to make them. Any strategic shift or reputational problem at The Coca-Cola Company affects CCEP directly, and CCEP does not control marketing or product formulation.
  • Bottling agreement is not owned outright — CCEP's right to bottle Coca-Cola products rests on long-term agreements rather than owning the brand; the terms of those agreements, including territory and product scope, are negotiated with and can be changed by The Coca-Cola Company.
  • Input cost and currency exposure — As a manufacturer operating across many currencies, CCEP is exposed to swings in packaging, sugar and energy costs and to foreign-exchange movements between its many European, Australian and Indonesian markets.

Los argumentos a favor

Buyers argue that owning the exclusive bottling rights for the world's leading soft-drink brand across a large, diversified set of markets provides steady, recession-resistant cash flow, and that continued mix shift toward premium packaging and immediate-consumption channels can keep growing revenue even where volume growth is modest.

Los argumentos en contra

Sellers fear that a business this dependent on a single brand owner has little room to diversify away from decisions made in Atlanta, that rising health consciousness and sugar taxes could weigh on sparkling-drink volumes over time, and that input-cost inflation can compress margins in a business with limited pricing power of its own.

Written by the editors, published on 18 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 18 de septiembre de 2026 with claude-haiku-4-5 — shared with all users

P/E: 16.6Score: 61Market cap: $174.91B

PepsiCo's colas, flavoured carbonates, sports drinks and snack-linked beverage brands fight CCEP for the same supermarket shelf space, restaurant contracts and vending placements across Western Europe, Australia and Indonesia.

P/E: 15.4Score: 63Market cap: $1.40T

Through Orangina, Schweppes, Oasis and Lucozade in Europe and Suntory Oceania's Pepsi, V and Gatorade range in Australia and New Zealand, Suntory sells non-alcoholic drinks in almost exactly the same countries and channels as CCEP.

Asahi Group Holdings, Ltd. (アサヒグループホールディングス)2502

Asahi Beverages holds the Pepsi and Schweppes bottling rights in Australia and runs a soft-drink and water business built on the same model as CCEP Australia, competing store by store for the same shoppers.

Carlsberg Britvic (Carlsberg A/S)Not tracked

Since Carlsberg absorbed Britvic in January 2025 it bottles Pepsi and owns Robinsons, J2O and Tango in Great Britain, competing head-on with CCEP for the same pubs, retailers and out-of-home accounts.

Red Bull GmbHNot tracked

Red Bull is the leading energy drink in CCEP's European and Australian territories, competing directly with the energy portfolio (Monster, Coca-Cola Energy) that CCEP sells through the same chilled cabinets and convenience outlets.

Balance y Liquidez

Ingresos

$18.92B

Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción

Beneficio Neto

$1.95B

Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción

Flujo de Caja Libre

$1.58B

Patrimonio Neto Total

$9.43B

Pasivo Total

$12.19B

Ratio de Liquidez

0.89

Cobertura de Intereses

-

Deuda/EBITDA

3.45

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Caso generalValoración Justa

Valor Justo

$100.73

Precio Actual

$101.71

Margen de Seguridad

-1.0%

Rango de Valor Justo

$84.33 - $117.13

Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.

Métodos de Estimación

Precio objetivo de los analistas:$109.29
Flujo de caja descontado (DCF):$102.16
Múltiplo sobre beneficios (P/E):$95.03
Fórmula de crecimiento de Graham:$126.03
Valor de la capacidad de generar beneficios (EPV):$53.93
P/B justificado:$90.63
Descuento de dividendos (Gordon):$52.97
P/FFO, fondos de operaciones:Datos insuficientes para calcularlo
Beneficios de mitad de ciclo:Datos insuficientes para calcularlo
Múltiplo sobre ingresos:$50.92
Consenso de Analistas:Comprar (15B / 6H / 2S)
Última Sorpresa de Resultados:-1.01%

Métricas de Valoración

Ratio P/E

22.91

ROE

23.5%

Ratio P/B

5.45

P/FCF

27.89

Margen Bruto

36.3%

ROIC

10.4%

Radar de Rentabilidad

Creación de Valor (Ventaja Competitiva)

ROIC

10.4%

WACC

6.3%

ROIC − WACC

+4.2 pp

El ROIC supera el coste del capital: la empresa está creando valor para los accionistas.

Criterios de Análisis Fundamental

Superado (15)

  • Price CAGR 12.25%
  • ROIC 10.5%
  • Gross Margin 36.3%
  • P/FCF 27.89
  • Debt/Equity ratio
  • Operating Margin 12.7%
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • ROE 24.8%
  • Revenue Growth 5Y 9.4%
  • Analyst Consensus 65% Buy
  • PEG Ratio 2.00
  • Earnings Quality (OCF/NI) 1.55
  • Net Margin Trend 9.3% vs 6.9%

Fallido (6)

  • P/B Ratio 5.45
  • CapEx intensity
  • Price below Graham Number
  • DCF valuation (Overvalued)
  • Earnings Surprise avg -0.1%
  • Piotroski F-Score 2/9

No disponible (6)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • Share Dilution (missing shares data)

Piotroski F-Score

2/9

Preocupaciones financieras graves

score
criteria

Calidad de los Beneficios

1.55

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

-

Recomprando acciones. Favorable para el accionista

Participaciones institucionales

No hay declaraciones institucionales para esta empresa.

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. Damian Paul GammellCEO & Executive Director55
Mr. Ed WalkerChief Financial Officer-
Ms. Francesca FaureChief Information Officer-
Sarah WillettVice President of Investor Relations-
Ms. Svetlana WalkerGeneral Counsel & Company Secretary-

Riesgo de Auditoría

1

Riesgo del Consejo

7

Riesgo de Compensación

4

Riesgo de Derechos del Accionista

9

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Latest News

Recent headlines for CCEP, sourced from Markets Gazette.

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