Coca-Cola Eurpac.

You’re paying 21.6 times earnings for a bottler with just 10% upside to $101 over the next 18 months.

If you own CCEP, you’re buying steady soda cash flow, not a cheap stock.

ccep

consumer large cap updated jan 9, 2026
$91.73
market cap ~$42B · 52-week range $64–$101
xvary composite: 65 / 100 · average
our overall rating — combines growth, value, risk, and momentum
Start here if you're new
what it is
Coca-Cola Europacific Partners bottles and delivers Coke products across 30 countries to more than 300 million customers.
how it gets paid
Last year Coca-Cola Eurpac made $1M in revenue. Germany was the main engine at $5.1B, or 24% of sales.
what just happened
Last reported EPS came in at $2.17, missing the $2.25 estimate by 3.56%.
At a glance
B++ balance sheet — above average — nothing keeping you up at night
55/100 earnings predictability — expect surprises
21.6x trailing p/e — priced about right
2.6% dividend yield — cash in your pocket every quarter
12.5% return on capital — nothing to write home about
xvary composite: 65/100 — average
What they do
Coca-Cola Europacific Partners bottles and delivers Coke products across 30 countries to more than 300 million customers.
This business wins because your corner store, gas station, and supermarket already run on its trucks and coolers. CCEP serves more than 300 million customers across 30 countries, which makes shelf space hard to steal. Bottling scale → moving huge drink volumes cheaply → so what: an 18.0% operating margin and 12.5% return on capital say the machine still prints.
consumer large-cap bottler dividend defensive
How they make money
$1M annual revenue
Germany
$5.1B
Great Britain
$4.7B
Iberia
$4.3B
Australia-Pacific
$3.8B
Indonesia and Philippines
$3.4B
The products that matter
flagship sparkling beverage bottling
Sparkling Soft Drinks
$18.2B · 70% of revenue
it's the core $18.2B business, and it only grew 3%. That means most of your investment case still rides on mature soda demand holding up.
core cash engine
faster-growth beverage categories
Energy, Coffee & Tea
$2.6B · +7% growth
this $2.6B segment is growing fastest, but it starts from a much smaller base. Good for mix. Not yet big enough to remake the company.
growth watch
water, juice, dairy, and plant drinks
Hydration, Juice, Dairy & Plant
$5.2B · +5% growth
it's a $5.2B business growing 5%. This is the middle ground between the giant soda base and the smaller, faster categories.
mix stabilizer
Key numbers
21.6x
trailing p/e
P/E → price-to-earnings → so what: you are paying a premium multiple for a business expected to grow sales 9.5%.
18.0%
operating margin
Operating margin → profit after core costs → so what: this bottler keeps $18 on every $100 of sales before interest and taxes.
$11.4B
long-term debt
Long-term debt → money owed over years → so what: the balance sheet is fine at 21% of capital, but debt still limits flexibility.
2.6%
dividend yield
Dividend yield → your cash payout on the stock price → so what: you get some income, but this is not a high-yield escape pod.
Financial health
B++
strength
  • balance sheet grade B++ — above average financial health
  • risk rank 2 — safer than 80% of stocks
  • price stability 90 / 100
  • long-term debt $11.4B (21% of capital)
  • net profit margin 8.4% — keeps 8 cents of every dollar in revenue
  • return on equity 21% — $0.21 profit for every $1 investors have put in
B++ — functional but not a standout on the balance sheet.
Total return vs. market

You invested $10,000 in CCEP 3 years ago → it's now worth $18,030.

The index would have given you $13,920.

same period. same starting point. CCEP beat the market by $4,110.

source: institutional data · total return
What just happened
missed estimates
Last reported EPS came in at $2.17, missing the $2.25 estimate by 3.56%.
That is a small miss in a business investors usually buy for consistency. The bigger split is forward expectations: one forecast shows $4.60 for fiscal 2026, while Wall Street sits at $5.15.
$21.3B
ttm revenue
$2.17
last eps
3.56%
eps surprise
the number that mattered
The 3.56% EPS miss matters because CCEP trades like a stable compounder, and stable compounders are supposed to avoid small disappointments.
source: Yahoo Finance consensus and last earnings data, 2026

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What could go wrong

the #1 risk is Coca-Cola franchise dependence across Western Europe and Asia Pacific.

!
high
licensed moat, owned by someone else
You own the bottling rights, not the brands. If franchise terms change, the economics of the entire $26B revenue base can change with them.
why it matters: this is not brand-owner leverage. It's contract-backed scale.
∘
med
commodity and packaging inflation
Sugar, aluminum, plastic, and freight all sit between gross sales and your final profit. With an 8.4% net margin, this business does not have unlimited room to absorb cost shocks.
why it matters: small cost moves can do outsized damage when margins are single-digit.
∘
med
mature soda demand
Sparkling soft drinks are still $18.2B of revenue and grew 3%. If volumes flatten and pricing power weakens at the same time, the core engine slows fast.
why it matters: the biggest category is also the slowest-growing one.
∘
med
limited information cadence
CCEP reports on a bi-annual schedule. That means slower confirmation when trends improve — and slower warning when they do not.
why it matters: fewer updates can make the stock feel safer than the fundamentals actually are.
With an 8.4% net margin on $26B of revenue, there is not much slack here. This works when franchise terms stay stable and pricing offsets costs. It gets less comfortable fast if either one slips.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin
can 8.4% net margin hold
This is the number doing most of the heavy lifting. If costs rise faster than pricing, the stock stops looking like a steady compounder and starts looking like a logistics business with a famous logo on the truck.
calendar
q1 2026 results on april 28, 2026
You want confirmation that the roughly 4% sales growth from the september-quarter update carried into the new year.
mix
are faster categories getting big enough to matter
Energy, coffee, tea, and hydration are growing faster than soda. The question is timing. Right now they are still just $7.8B combined versus $18.2B for sparkling drinks.
franchise
any shift in Coca-Cola system economics
The moat is real, but it is rented. Pay attention to language around franchise terms, portfolio strategy, and bottler economics because that is where the real power sits.
Analyst rankings
earnings predictability
55 / 100
middle of the road. in human-speak, analysts trust the business model more than they trust perfectly smooth quarterly execution.
risk rank
2
safer than 80% of stocks. This is why the multiple stays respectable even without exciting growth.
price stability
90 / 100
the stock has been unusually steady. Good if you want sleep. Less useful if you want dramatic upside.
source: institutional data
Institutional activity

222 buyers vs. 250 sellers in 3q2025. total institutional holdings: 0.2B shares.

source: institutional data · 1q2025-3q2025
source: institutional data
Price targets
3-5 year target range
$79 $122
$92 current price
$101 target midpoint · +10% from current · 3-5yr high: $150 (+65% · 13% ann'l return)
source: institutional data · analyst targets

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