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Relative to Consumer Staples Sector Median (N=180)
Metric
CCEP
Benchmark
P/E Ratio
30.6x
-8%
EV/EBITDA
4.8x
-31%
Price / Book
4.9x
Implied Value Audit
FAIR VALUE
Implied Fair Value (vs Sector)
-12.7%
$85.08Spot: $97.43
Spot
Implied
-50% Delta+50% Delta
Relative valuation derived from Consumer Staples sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 40.9GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
68.0%
Sector: 7.7%
Dividend Analysis audit
No Dividend
This company does not currently pay a dividend.
Analyst Projections
Analyst Consensus
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Based on our 6-factor quantitative model, COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) receives a "Hold" rating with a composite score of 54.6/100, ranked #923 out of 4446 stocks. Key factor scores: Quality 41/100, Value 71/100, Momentum 59/100. This is quantitative analysis only — not investment advice.
COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does COCA-COLA EUROPACIFIC PARTNERS plc Do?
Coca-Cola European Partners plc, a consumer packaged goods company, produces, distributes, and markets a range of non-alcoholic ready-to-drink beverages in Europe. It serves approximately 300 million consumers across Western Europe, including Andorra, Belgium, continental France, Germany, the Great Britain, Iceland, Luxembourg, Monaco, the Netherlands, Norway, Portugal, Spain, and Sweden. The company was founded in 2015 and is based in Uxbridge, United Kingdom. COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) is classified as a large-cap stock in the Consumer Staples sector, specifically within the Candy & Soda industry. The company is led by CEO Damian P. Gammell and employs approximately 27,600 people. With a market capitalization of $41.2B, CCEP is one of the prominent companies in the Consumer Staples sector.
As of April 2026, COCA-COLA EUROPACIFIC PARTNERS plc receives a Hold rating with a composite score of 54.6/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.CCEP ranks #923 out of 4,446 stocks in our coverage universe. Within the Consumer Staples sector, COCA-COLA EUROPACIFIC PARTNERS plc ranks #29 of 180 stocks, placing it in the top quartile of its Consumer Staples peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
CCEP Stock Price and 52-Week Range
COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) currently trades at $97.43. The stock lost $0.48 (0.5%) in the most recent trading session. The 52-week high for CCEP is $110.90, which means the stock is currently trading -12.1% from its annual peak. The 52-week low is $81.00, putting the stock 20.3% above its annual trough. Recent trading volume was 1.5M shares, reflecting moderate market activity.
Is CCEP Overvalued or Undervalued? — Valuation Analysis
COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) carries a value factor score of 71/100 in the Blank Capital model, suggesting the stock trades at a meaningful discount to its fundamental earning power. The trailing price-to-earnings ratio is 30.56x, compared to the Consumer Staples sector average of 33.11x — a discount of 8%. The price-to-book ratio stands at 4.94x, versus the sector average of 1.74x. The price-to-sales ratio is 0.51x, compared to 0.35x for the average Consumer Staples stock. On an enterprise value basis, CCEP trades at 4.81x EV/EBITDA, versus 6.93x for the sector.
Based on these multiples, COCA-COLA EUROPACIFIC PARTNERS plc appears attractively valued relative to both its sector peers and the broader market. Value-oriented investors may find the current entry point compelling, particularly if the company's fundamental quality metrics also score well.
COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) earns a quality factor score of 41/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 68.0%, compared to the Consumer Staples sector average of 7.7%, which demonstrates strong shareholder value creation. Return on assets (ROA) comes in at 18.6% versus the sector average of 3.1%.
On a margin basis, COCA-COLA EUROPACIFIC PARTNERS plc reports gross margins of 35.1%, compared to 26.2% for the sector. The operating margin is 9.4% (sector: 2.9%). Net profit margin stands at 7.0%, versus 1.6% for the average Consumer Staples stock. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
CCEP Debt, Balance Sheet, and Financial Health
COCA-COLA EUROPACIFIC PARTNERS plc has a debt-to-equity ratio of 133.0%, compared to the Consumer Staples sector average of 72.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. Total debt on the balance sheet is $11.73B. Cash and equivalents stand at $1.62B.
CCEP has a beta of 0.23, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for COCA-COLA EUROPACIFIC PARTNERS plc is 89/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
COCA-COLA EUROPACIFIC PARTNERS plc Revenue and Earnings History — Quarterly Trend
In TTM 2026, COCA-COLA EUROPACIFIC PARTNERS plc reported revenue of $21.23B and earnings per share (EPS) of $3.19. Net income for the quarter was $1.49B. Gross margin was 35.1%. Operating income came in at $2.00B.
In FY 2024, COCA-COLA EUROPACIFIC PARTNERS plc reported revenue of $21.23B and earnings per share (EPS) of $3.19. Net income for the quarter was $1.49B. Gross margin was 35.1%. Revenue grew 4.6% year-over-year compared to FY 2023. Operating income came in at $2.00B.
In FY 2023, COCA-COLA EUROPACIFIC PARTNERS plc reported revenue of $20.30B and earnings per share (EPS) of $4.03. Net income for the quarter was $1.85B. Gross margin was 36.6%. Revenue grew 9.2% year-over-year compared to FY 2022. Operating income came in at $2.44B.
In FY 2022, COCA-COLA EUROPACIFIC PARTNERS plc reported revenue of $18.58B and earnings per share (EPS) of $3.53. Net income for the quarter was $1.63B. Gross margin was 35.8%. Revenue grew 19.0% year-over-year compared to FY 2021. Operating income came in at $2.09B.
Over the past 8 quarters, COCA-COLA EUROPACIFIC PARTNERS plc has demonstrated a growth trajectory, with revenue expanding from $13.23B to $21.23B. Investors analyzing CCEP stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
CCEP Dividend Yield and Income Analysis
COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) does not currently pay a dividend. This is common among growth-oriented companies in the Candy & Soda industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Consumer Staples dividend stocks may want to explore other Consumer Staples stocks or use the stock screener to filter by dividend yield.
CCEP Momentum and Technical Analysis Profile
COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) has a momentum factor score of 59/100, reflecting neutral trend characteristics. The stock is neither significantly outperforming nor underperforming the broader market on a momentum basis. The investment factor score is 63/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 19/100 signals elevated short interest, which can indicate bearish sentiment among institutional investors.
CCEP vs Competitors — Consumer Staples Sector Ranking and Peer Comparison
Comparing CCEP against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full CCEP vs S&P 500 (SPY) comparison to assess how COCA-COLA EUROPACIFIC PARTNERS plc stacks up against the broader market across all factor dimensions.
CCEP Next Earnings Date
No upcoming earnings date has been announced for COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy CCEP? — Investment Thesis Summary
COCA-COLA EUROPACIFIC PARTNERS plc presents a balanced picture with arguments on both sides. The value score of 71/100 suggests attractive pricing relative to fundamentals. Low volatility (stability score 89/100) reduces downside risk.
In summary, COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) earns a Hold rating with a composite score of 54.6/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on CCEP stock.
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Institutional Research Dossier
COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
Coca-Cola Europacific Partners (CCEP) receives a Hold rating, driven by a balanced assessment of its strong market position and profitability against a backdrop of moderate growth prospects and a leveraged balance sheet. While CCEP exhibits superior margins and returns compared to its sector, its debt burden and the inherent challenges in the mature beverage market temper enthusiasm. The key takeaway is that CCEP is a well-managed, highly profitable enterprise operating in a stable but not rapidly expanding industry, making it a reasonable, but not compelling, investment at its current valuation.
The company's impressive profitability metrics, particularly its ROE, gross margin, operating margin, and net margin, significantly outperform the consumer staples sector. However, these strengths are partially offset by a higher debt-to-equity ratio and a lack of significant revenue growth. The Hold rating reflects the view that CCEP's current market price adequately reflects its strengths and weaknesses, offering limited upside potential for substantial outperformance.
Business Strategy & Overview
Coca-Cola Europacific Partners (CCEP) operates as a bottler and distributor of Coca-Cola products and other non-alcoholic beverages across a wide swathe of Western Europe. Its primary function is to manufacture, package, and distribute beverages under license from The Coca-Cola Company, as well as marketing and selling these products to retailers, restaurants, and other outlets. CCEP's revenue is directly tied to the volume of beverages it sells and the prices it can command in the market.
The company's strategic positioning revolves around maintaining and expanding its market share within its geographic footprint. This involves a multi-pronged approach, including investing in marketing and advertising to build brand awareness and loyalty, innovating with new product offerings and packaging formats to cater to changing consumer preferences, and optimizing its supply chain and distribution network to ensure efficient and cost-effective delivery of its products. CCEP also focuses on building strong relationships with its retail partners to secure shelf space and promotional opportunities.
CCEP's product portfolio extends beyond the core Coca-Cola brands to include a variety of other beverages, such as flavored sparkling waters, juices, energy drinks, and ready-to-drink teas. This diversification helps to mitigate the risk of over-reliance on a single product category and allows CCEP to capture a broader range of consumer tastes and preferences. The company also actively pursues acquisitions and partnerships to expand its product offerings and geographic reach.
The beverage industry is characterized by intense competition, with major players vying for market share. CCEP competes with other large beverage companies, as well as smaller regional and local brands. The industry is also subject to evolving consumer trends, such as increasing demand for healthier and more sustainable beverage options. CCEP is adapting to these trends by investing in new product development and sustainable packaging initiatives.
Execution Benchmarks audit
Gross Margin
Core pricing power
35.1%
Sector: 26.2%
+34% VS SCTR
Economic Moat Analysis
Coca-Cola Europacific Partners possesses a Narrow economic moat, primarily derived from its association with the iconic Coca-Cola brand and its extensive distribution network. The Coca-Cola brand enjoys immense global recognition and consumer loyalty, providing CCEP with a significant advantage in terms of pricing power and shelf space. Consumers are often willing to pay a premium for Coca-Cola products, and retailers are eager to stock them due to their high demand.
CCEP's distribution network is another key source of its competitive advantage. The company has invested heavily in building a sophisticated and efficient distribution system that allows it to reach a wide range of retail outlets and foodservice establishments across its geographic footprint. This network is difficult and costly for competitors to replicate, providing CCEP with a significant barrier to entry.
However, the moat is not considered wide due to several factors. First, CCEP is essentially a bottler and distributor, and its fortunes are heavily dependent on the success of The Coca-Cola Company's brands. While the Coca-Cola brand is strong, it is not invulnerable to changing consumer tastes and preferences. Second, the beverage industry is highly competitive, and CCEP faces constant pressure from other large beverage companies and smaller regional brands. Third, the company's distribution network, while extensive, is not necessarily unique or irreplaceable. Other beverage companies have also built their own distribution networks, and retailers are increasingly willing to work with multiple suppliers.
Furthermore, the increasing focus on healthier beverage options and the rise of private label brands pose a threat to CCEP's market share. Consumers are becoming more health-conscious and are increasingly seeking out alternatives to sugary drinks. Private label brands are also gaining popularity, offering consumers lower-priced alternatives to branded beverages. These trends could erode CCEP's pricing power and market share over time.
Financial Health & Profitability
CCEP's financial health presents a mixed picture. On the one hand, the company boasts impressive profitability metrics, significantly outperforming the consumer staples sector. Its ROE of 68.0% is exceptionally high, indicating efficient use of equity to generate profits. Gross, operating, and net margins are also substantially higher than the sector averages, suggesting strong cost control and pricing power. The company's free cash flow generation has been generally positive, although volatile, over the past several years.
However, CCEP's balance sheet is more concerning. The company carries a significant amount of debt, as evidenced by its high debt-to-equity ratio of 133.00, which is considerably higher than the sector average of 70.50. This high level of leverage increases the company's financial risk and could constrain its ability to invest in future growth opportunities. The total debt of $11.73B is substantial compared to its cash holdings of $1.62B.
Analyzing the quarterly financial history reveals some trends. Revenue has generally been increasing over the past several years, although growth has been moderate. Net income has also been trending upward, but with some fluctuations. Free cash flow has been particularly volatile, with significant swings from year to year. The negative FCF in FY2021 and FY2017 and FY2016 are concerning and warrant further investigation into the underlying causes. Gross margin has remained relatively stable, while operating margin has shown some improvement over time.
Overall, CCEP's financial health is characterized by strong profitability but a leveraged balance sheet. The company's ability to generate consistent free cash flow will be crucial to managing its debt burden and funding future growth initiatives. The high debt-to-equity ratio is a significant risk factor that investors should carefully consider.
Valuation Assessment
CCEP's valuation presents a mixed picture. Its P/E ratio of 28.7x is lower than the consumer staples sector average of 34.2x, suggesting that the stock may be relatively undervalued compared to its peers. Similarly, its EV/EBITDA ratio of 4.6x is significantly lower than the sector average of 7.3x, further supporting the notion that the stock is undervalued on an enterprise value basis.
However, these valuation metrics should be interpreted with caution. The lower P/E and EV/EBITDA ratios may reflect the market's concerns about CCEP's high debt levels and moderate growth prospects. While the company's profitability is strong, its revenue growth has been relatively slow, and its high debt burden could constrain its future growth potential.
A free cash flow (FCF) yield analysis provides further insights. Based on the TTM FCF of $2.15B and a market cap of $40.93B, CCEP's FCF yield is approximately 5.25%. This yield is reasonable but not exceptionally high, suggesting that the stock is fairly valued rather than deeply undervalued. The FCF yield needs to be considered in the context of the company's risk profile and growth prospects.
Considering all these factors, CCEP's valuation appears to be fair. The stock is not significantly overvalued or undervalued, but rather trades at a level that reflects its strengths and weaknesses. The company's strong profitability and market position are offset by its high debt levels and moderate growth prospects. Investors should carefully weigh these factors before making an investment decision.
Risk & Uncertainty
CCEP faces several specific risks that could negatively impact its business and financial performance. One of the most significant risks is regulatory scrutiny related to sugar content and health concerns. Governments around the world are increasingly imposing taxes and regulations on sugary drinks, which could reduce demand for CCEP's products and negatively impact its revenue and profitability. Changes in labeling requirements and advertising restrictions could also increase the company's costs and limit its ability to market its products effectively.
Competition is another major risk factor. The beverage industry is highly competitive, with major players vying for market share. CCEP faces competition from other large beverage companies, as well as smaller regional and local brands. The rise of private label brands also poses a threat to CCEP's market share. Increased competition could lead to price wars and reduced profitability.
Concentration risk is also a concern. CCEP's business is heavily reliant on The Coca-Cola Company's brands. Any decline in the popularity or market share of these brands could significantly impact CCEP's revenue and profitability. The company's licensing agreements with The Coca-Cola Company are also subject to renewal, and any adverse changes to these agreements could negatively affect CCEP's business.
Finally, CCEP's high level of debt poses a significant financial risk. The company's debt-to-equity ratio is considerably higher than the sector average, increasing its financial leverage and vulnerability to economic downturns. Rising interest rates could also increase the company's borrowing costs and reduce its profitability. The company's ability to manage its debt burden will be crucial to its long-term financial health.
Bulls Say / Bears Say
The Bull Case
BULL VIEWCCEP's superior profitability metrics, including ROE and margins, demonstrate its operational efficiency and pricing power within the beverage market.
BULL VIEWThe company's strong distribution network and association with the iconic Coca-Cola brand provide a sustainable competitive advantage and a reliable revenue stream.
BULL VIEWCCEP's focus on innovation and sustainability initiatives positions it well to adapt to changing consumer preferences and regulatory requirements, ensuring long-term growth.
The Bear Case
BEAR VIEWCCEP's high debt-to-equity ratio exposes it to significant financial risk, particularly in a rising interest rate environment, potentially limiting its investment capacity.
BEAR VIEWThe company's reliance on sugary beverages makes it vulnerable to increasing regulatory scrutiny and changing consumer preferences towards healthier alternatives, impacting future sales.
BEAR VIEWCCEP's moderate revenue growth and mature market presence limit its upside potential, making it a less attractive investment compared to companies with higher growth prospects.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score CCEP and 4,400+ other equities.
COCA-COLA EUROPACIFIC PARTNERS plc exhibits a 48% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
18.6%
Sector: 3.1%
Gross Margin
Pricing power and cost efficiency
35.1%
Sector: 26.2%
Operating Margin
Core business profitability
9.4%
Sector: 2.9%
Net Margin
Bottom-line profitability
7.0%
Sector: 1.6%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
