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COCA-COLA EUROPACIFIC PARTNE (CCEP.AS) Stock Fundamental Analysis

AMS:CCEP - Euronext Amsterdam - GB00BDCPN049 - Common Stock - Currency: EUR

78.6  +0.3 (+0.38%)

Fundamental Rating

4

Taking everything into account, CCEP scores 4 out of 10 in our fundamental rating. CCEP was compared to 25 industry peers in the Beverages industry. While CCEP is still in line with the averages on profitability rating, there are concerns on its financial health. CCEP is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

CCEP had positive earnings in the past year.
In the past year CCEP had a positive cash flow from operations.
CCEP had positive earnings in each of the past 5 years.
Each year in the past 5 years CCEP had a positive operating cash flow.
CCEP.AS Yearly Net Income VS EBIT VS OCF VS FCFCCEP.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

1.2 Ratios

CCEP has a Return On Assets of 4.56%. This is in the better half of the industry: CCEP outperforms 69.23% of its industry peers.
CCEP has a Return On Equity of 16.70%. This is amongst the best in the industry. CCEP outperforms 80.77% of its industry peers.
The Return On Invested Capital of CCEP (6.98%) is comparable to the rest of the industry.
Industry RankSector Rank
ROA 4.56%
ROE 16.7%
ROIC 6.98%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
CCEP.AS Yearly ROA, ROE, ROICCCEP.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

1.3 Margins

The Profit Margin of CCEP (6.94%) is comparable to the rest of the industry.
In the last couple of years the Profit Margin of CCEP has declined.
The Operating Margin of CCEP (10.43%) is worse than 69.23% of its industry peers.
In the last couple of years the Operating Margin of CCEP has declined.
CCEP has a Gross Margin of 35.28%. This is in the lower half of the industry: CCEP underperforms 76.92% of its industry peers.
CCEP's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 10.43%
PM (TTM) 6.94%
GM 35.28%
OM growth 3Y-3.06%
OM growth 5Y-4.38%
PM growth 3Y-0.93%
PM growth 5Y-5.22%
GM growth 3Y-1.9%
GM growth 5Y-1.69%
CCEP.AS Yearly Profit, Operating, Gross MarginsCCEP.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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3

2. Health

2.1 Basic Checks

CCEP has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
CCEP has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
CCEP.AS Yearly Shares OutstandingCCEP.AS Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M
CCEP.AS Yearly Total Debt VS Total AssetsCCEP.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 5B 10B 15B 20B 25B

2.2 Solvency

An Altman-Z score of 2.12 indicates that CCEP is not a great score, but indicates only limited risk for bankruptcy at the moment.
Looking at the Altman-Z score, with a value of 2.12, CCEP is in line with its industry, outperforming 57.69% of the companies in the same industry.
CCEP has a debt to FCF ratio of 5.34. This is a neutral value as CCEP would need 5.34 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 5.34, CCEP belongs to the top of the industry, outperforming 92.31% of the companies in the same industry.
CCEP has a Debt/Equity ratio of 1.17. This is a high value indicating a heavy dependency on external financing.
CCEP has a Debt to Equity ratio of 1.17. This is comparable to the rest of the industry: CCEP outperforms 42.31% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.17
Debt/FCF 5.34
Altman-Z 2.12
ROIC/WACC0.83
WACC8.46%
CCEP.AS Yearly LT Debt VS Equity VS FCFCCEP.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

2.3 Liquidity

A Current Ratio of 0.81 indicates that CCEP may have some problems paying its short term obligations.
CCEP has a Current ratio of 0.81. This is in the lower half of the industry: CCEP underperforms 69.23% of its industry peers.
CCEP has a Quick Ratio of 0.81. This is a bad value and indicates that CCEP is not financially healthy enough and could expect problems in meeting its short term obligations.
CCEP has a Quick ratio of 0.62. This is comparable to the rest of the industry: CCEP outperforms 50.00% of its industry peers.
Industry RankSector Rank
Current Ratio 0.81
Quick Ratio 0.62
CCEP.AS Yearly Current Assets VS Current LiabilitesCCEP.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B

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5

3. Growth

3.1 Past

The earnings per share for CCEP have decreased strongly by -15.31% in the last year.
Measured over the past 5 years, CCEP shows a small growth in Earnings Per Share. The EPS has been growing by 5.80% on average per year.
Looking at the last year, CCEP shows a quite strong growth in Revenue. The Revenue has grown by 11.67% in the last year.
The Revenue has been growing by 11.21% on average over the past years. This is quite good.
EPS 1Y (TTM)-15.31%
EPS 3Y12.68%
EPS 5Y5.8%
EPS Q2Q%-24.06%
Revenue 1Y (TTM)11.67%
Revenue growth 3Y14.09%
Revenue growth 5Y11.21%
Sales Q2Q%13.78%

3.2 Future

Based on estimates for the next years, CCEP will show a quite strong growth in Earnings Per Share. The EPS will grow by 10.10% on average per year.
CCEP is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 1.19% yearly.
EPS Next Y7.08%
EPS Next 2Y8.16%
EPS Next 3Y8.5%
EPS Next 5Y10.1%
Revenue Next Year4.39%
Revenue Next 2Y4.11%
Revenue Next 3Y4.11%
Revenue Next 5Y1.19%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
CCEP.AS Yearly Revenue VS EstimatesCCEP.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B 20B 25B
CCEP.AS Yearly EPS VS EstimatesCCEP.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3 4 5

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2

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 25.60, the valuation of CCEP can be described as expensive.
Compared to the rest of the industry, the Price/Earnings ratio of CCEP is on the same level as its industry peers.
The average S&P500 Price/Earnings ratio is at 29.35. CCEP is around the same levels.
CCEP is valuated rather expensively with a Price/Forward Earnings ratio of 18.32.
CCEP's Price/Forward Earnings ratio is in line with the industry average.
CCEP is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 22.10, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 25.6
Fwd PE 18.32
CCEP.AS Price Earnings VS Forward Price EarningsCCEP.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, CCEP is valued a bit more expensive than the industry average as 73.08% of the companies are valued more cheaply.
Based on the Price/Free Cash Flow ratio, CCEP is valued a bit cheaper than the industry average as 69.23% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 17.07
EV/EBITDA 14.5
CCEP.AS Per share dataCCEP.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates CCEP does not grow enough to justify the current Price/Earnings ratio.
PEG (NY)3.62
PEG (5Y)4.41
EPS Next 2Y8.16%
EPS Next 3Y8.5%

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3

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.52%, CCEP has a reasonable but not impressive dividend return.
CCEP's Dividend Yield is comparable with the industry average which is at 2.64.
Compared to an average S&P500 Dividend Yield of 2.33, CCEP has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.52%

5.2 History

The dividend of CCEP is nicely growing with an annual growth rate of 11.43%!
Dividend Growth(5Y)11.43%
Div Incr Years4
Div Non Decr Years4
CCEP.AS Yearly Dividends per shareCCEP.AS Yearly Dividends per shareYearly Dividends per share 2016 2017 2018 2019 2020 2021 2022 2023 2024 0.5 1 1.5

5.3 Sustainability

64.17% of the earnings are spent on dividend by CCEP. This is not a sustainable payout ratio.
The dividend of CCEP is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP64.17%
EPS Next 2Y8.16%
EPS Next 3Y8.5%
CCEP.AS Yearly Income VS Free CF VS DividendCCEP.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
CCEP.AS Dividend Payout.CCEP.AS Dividend Payout, showing the Payout Ratio.CCEP.AS Dividend Payout.PayoutRetained Earnings

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COCA-COLA EUROPACIFIC PARTNE

AMS:CCEP (3/6/2025, 5:29:50 PM)

78.6

+0.3 (+0.38%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryBeverages
Earnings (Last)02-14 2025-02-14/amc
Earnings (Next)N/A N/A
Inst Owners35.56%
Inst Owner ChangeN/A
Ins Owners0.22%
Ins Owner ChangeN/A
Market Cap36.23B
Analysts77.39
Price Target87.06 (10.76%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.52%
Yearly Dividend1.84
Dividend Growth(5Y)11.43%
DP64.17%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)6.98%
PT rev (3m)5.58%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-1.09%
EPS NY rev (3m)-0.62%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.24%
Revenue NY rev (3m)-0.06%
Valuation
Industry RankSector Rank
PE 25.6
Fwd PE 18.32
P/S 1.77
P/FCF 17.07
P/OCF 11.84
P/B 4.27
P/tB N/A
EV/EBITDA 14.5
EPS(TTM)3.07
EY3.91%
EPS(NY)4.29
Fwd EY5.46%
FCF(TTM)4.6
FCFY5.86%
OCF(TTM)6.64
OCFY8.45%
SpS44.34
BVpS18.42
TBVpS-19.41
PEG (NY)3.62
PEG (5Y)4.41
Profitability
Industry RankSector Rank
ROA 4.56%
ROE 16.7%
ROCE 9.29%
ROIC 6.98%
ROICexc 7.55%
ROICexgc 42.15%
OM 10.43%
PM (TTM) 6.94%
GM 35.28%
FCFM 10.38%
ROA(3y)N/A
ROA(5y)N/A
ROE(3y)N/A
ROE(5y)N/A
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-3.06%
OM growth 5Y-4.38%
PM growth 3Y-0.93%
PM growth 5Y-5.22%
GM growth 3Y-1.9%
GM growth 5Y-1.69%
F-Score5
Asset Turnover0.66
Health
Industry RankSector Rank
Debt/Equity 1.17
Debt/FCF 5.34
Debt/EBITDA 3.24
Cap/Depr 100.64%
Cap/Sales 4.59%
Interest Coverage 8.56
Cash Conversion 99.87%
Profit Quality 149.65%
Current Ratio 0.81
Quick Ratio 0.62
Altman-Z 2.12
F-Score5
WACC8.46%
ROIC/WACC0.83
Cap/Depr(3y)92.36%
Cap/Depr(5y)78.04%
Cap/Sales(3y)4.17%
Cap/Sales(5y)3.92%
Profit Quality(3y)141.19%
Profit Quality(5y)162.2%
High Growth Momentum
Growth
EPS 1Y (TTM)-15.31%
EPS 3Y12.68%
EPS 5Y5.8%
EPS Q2Q%-24.06%
EPS Next Y7.08%
EPS Next 2Y8.16%
EPS Next 3Y8.5%
EPS Next 5Y10.1%
Revenue 1Y (TTM)11.67%
Revenue growth 3Y14.09%
Revenue growth 5Y11.21%
Sales Q2Q%13.78%
Revenue Next Year4.39%
Revenue Next 2Y4.11%
Revenue Next 3Y4.11%
Revenue Next 5Y1.19%
EBIT growth 1Y-5.24%
EBIT growth 3Y10.6%
EBIT growth 5Y6.34%
EBIT Next Year54.11%
EBIT Next 3Y19.04%
EBIT Next 5Y12.31%
FCF growth 1Y6.42%
FCF growth 3Y8.29%
FCF growth 5Y10.26%
OCF growth 1Y9.09%
OCF growth 3Y13.08%
OCF growth 5Y9.96%