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Coca-Cola Europacific Partners
(NASDAQ:CCEP)
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Rating:74Outperform
Price Target:
$121.00
▲(15.12% Upside)
Action:Upgraded
Date:08/04/26
CCEP scores well primarily on solid operating fundamentals and cash generation, supported by a positive earnings call with reaffirmed guidance and strong H1 growth/margin expansion. Technicals add support with price above key moving averages and positive momentum. Offsetting factors are meaningful leverage, the 2025 revenue decline and softer recent cash-flow momentum, while valuation (P/E ~22) is fair but not especially attractive.
Positive Factors
Consistent free cash flow
A multi-year record of positive free cash flow (2020–2025) underpins durable capital allocation: funds internal reinvestment, dividends and buybacks while supporting resilience through cycles. Persistent FCF capacity strengthens liquidity and strategic optionality over the next 2–6 months.
Negative Factors
Elevated leverage
Material net debt versus equity limits financial flexibility and increases sensitivity to rate or earnings shocks. High leverage constrains capacity for incremental M&A or cushion for cost shocks and raises refinancing risk if margins or cash flow weaken in the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent free cash flow
A multi-year record of positive free cash flow (2020–2025) underpins durable capital allocation: funds internal reinvestment, dividends and buybacks while supporting resilience through cycles. Persistent FCF capacity strengthens liquidity and strategic optionality over the next 2–6 months.
Read all positive factors
Coca-Cola Europacific Partners Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where Coca-Cola Europacific Partners is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where Coca-Cola Europacific Partners is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyCoca-Cola Europacific Partners (CCEP) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$48.51B
Dividend Yield2.08%
Average Volume (3M)1.81M
Price to Earnings (P/E)22.3
Beta (1Y)0.36
Revenue Growth6.82%
EPS Growth44.68%
CountryUS
Employees39,000
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)4.44
Shares Outstanding443,217,650
10 Day Avg. Volume1,676,297
30 Day Avg. Volume1,807,720
Financial Highlights & Ratios
PEG Ratio0.58
Price to Book (P/B)4.49
Price to Sales (P/S)1.68
P/FCF Ratio15.98
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$113.29Price Target Upside7.78% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)4.46
Revenue Forecast (FY)$21.50B
Coca-Cola Europacific Partners Business Overview & Revenue Model
Company Description
Coca-Cola Europacific Partners PLC (CCEP), along with its affiliated entities, focuses on the creation, distribution, and sale of a wide array of non-alcoholic, ready-to-consume beverages. Their diverse product portfolio includes sparkling drinks,...
How the Company Makes Money
CCEP primarily makes money by manufacturing (or procuring where applicable), packaging, and selling finished beverages to customers such as supermarkets and grocery retailers, convenience and petrol forecourt stores, wholesalers and cash-and-carry...
Coca-Cola Europacific Partners Earnings Call Summary
Earnings Call Date:Aug 04, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Feb 18, 2027
Earnings Call Sentiment Positive
The call presented a predominantly positive operational and financial performance: strong revenue and volume growth, margin expansion, share gains, significant category momentum (especially Zero and Energy), robust execution (cooler rollout, World Cup activation) and continued cash generation and shareholder returns. Headwinds are manageable but notable: revenue-per-case softness versus a strong prior-year comparable, mix shifts to larger formats in Europe, the APS Suntory exit (~1% revenue impact), and cost/commodity timing risk concentrated in H2 (Middle East effects). Management reaffirmed full-year guidance and emphasized productivity and AI-driven improvements as mitigants. On balance, the highlights outweigh the lowlights.Positive Updates
Strong Top-Line Growth
Revenue of EUR 10.7 billion, up 6.1% year-over-year (comparable and FX-neutral). Volumes grew 5.6% (2.2% on a days-adjusted basis); June was the company's biggest volume month ever.
Negative Updates
Revenue Per Case Weakness vs. Strong Prior-Year Base
Revenue per case grew only 0.4% in H1 versus a strong comparable (almost 4% in H1 2025), reflecting promotional optimization, mix shifts toward larger formats in Europe, and the impact of exiting Suntory alcohol in APS (~>1% revenue headwind).
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Top-Line Growth
Revenue of EUR 10.7 billion, up 6.1% year-over-year (comparable and FX-neutral). Volumes grew 5.6% (2.2% on a days-adjusted basis); June was the company's biggest volume month ever.
Read all positive updates
Company Guidance
Management reaffirmed full‑year 2026 guidance and said the Group is on track to deliver comparable free cash flow of at least EUR 1.7bn, after a strong H1 that included revenue of EUR 10.7bn (+6.1%), volumes +5.6% (or +2.2% days‑adjusted), revenue per case +0.4% (Q2 Europe ~+1.4%), operating profit EUR 1.5bn (+8.1%) with an operating margin of 13.8% (+~30 bps), diluted EPS EUR 2.20 (+10.6%) and H1 free cash flow EUR 435m; cost of sales per unit case rose 0.6% (below FY guidance of 1.5%), OpEx was 21.4% of revenue (‑~40 bps), value share up 20bps in Europe, ~EUR 600m of a EUR 1bn buyback completed, >80,000 coolers added (+5% year, >10% vs last year), category volumes showed sports/hydration +12%, energy +19%, Zero Sugar +10% (Monster share +230bps), and management noted the reaffirmation despite six fewer trading days in H2 and a c.1% H1 revenue headwind in APS from the Beam Suntory alcohol exit.Coca-Cola Europacific Partners Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
63
Positive
Cash Flow
70
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 21.35B | 20.90B | 20.44B | 18.30B | 17.32B | 13.76B |
| Gross Profit | 7.59B | 7.44B | 7.28B | 6.73B | 6.24B | 5.10B |
| EBITDA | 3.58B | 3.42B | 3.24B | 3.23B | 2.93B | 2.44B |
| Net Income | 2.00B | 1.94B | 1.42B | 1.67B | 1.51B | 982.00M |
Balance Sheet | ||||||
| Total Assets | 32.47B | 29.87B | 31.10B | 29.25B | 29.31B | 29.09B |
| Cash, Cash Equivalents and Short-Term Investments | 1.99B | 972.00M | 1.71B | 1.99B | 1.64B | 1.47B |
| Total Debt | 12.18B | 10.69B | 11.33B | 11.40B | 11.91B | 13.14B |
| Total Liabilities | 23.71B | 21.57B | 22.11B | 21.28B | 21.87B | 21.88B |
| Stockholders Equity | 8.27B | 7.83B | 8.49B | 7.98B | 7.45B | 7.03B |
Cash Flow | ||||||
| Free Cash Flow | 2.11B | 2.20B | 2.27B | 2.13B | 2.33B | 1.77B |
| Operating Cash Flow | 2.85B | 2.95B | 3.06B | 2.81B | 2.93B | 2.12B |
| Investing Cash Flow | -677.85M | -632.00M | -1.96B | -937.00M | -645.00M | -5.61B |
| Financing Cash Flow | -2.05B | -2.89B | -973.00M | -1.82B | -2.28B | 3.29B |
Coca-Cola Europacific Partners Risk Analysis
Coca-Cola Europacific Partners disclosed 36 risk factors in its most recent earnings report. Coca-Cola Europacific Partners reported the most risks in the "Legal & Regulatory" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Coca-Cola Europacific Partners Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | $94.26B | 46.34 | 25.46% | ― | 18.06% | 36.22% | |
76 Outperform | $376.86B | 26.30 | 42.99% | 2.53% | 7.42% | 17.58% | |
74 Outperform | $48.51B | 22.28 | 25.02% | 2.29% | 6.82% | 44.68% | |
74 Outperform | $190.48B | 18.27 | 50.36% | 4.21% | 5.62% | 38.93% | |
65 Neutral | $42.34B | 23.05 | 7.25% | 3.10% | 9.19% | 21.61% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | $12.51B | 24.03 | -889.19% | 0.54% | 8.81% | 14.00% |
* Consumer Defensive Sector Average
CCEP
Coca-Cola Europacific Partners
108.58
17.78
19.59%
COKE
Coca-Cola Bottling Co Consolidated
184.74
71.23
62.75%
KO
Coca-Cola
86.83
18.34
26.78%
KDP
Keurig Dr Pepper
30.75
-2.05
-6.24%
MNST
Monster Beverage
94.46
33.66
55.36%
PEP
PepsiCo
138.78
0.34
0.25%
Coca-Cola Europacific Partners Corporate Events
Coca-Cola Europacific Partners Details Second Tranche of €1bn Share Buyback
Jul 2, 2026
On 2 July 2026, Coca-Cola Europacific Partners announced an update to its share buyback programme, confirming the launch of a second and final tranche of up to €500 million beginning 6 July 2026. This follows completion of a first €500...
Coca-Cola Europacific Partners Reports June 2026 Executive Share Acquisitions
Jul 1, 2026
On July 1, 2026, Coca-Cola Europacific Partners reported a series of June 2026 insider share transactions by senior executives under regulatory disclosure rules. The filings detail automatic acquisitions of ordinary shares through dividend reinves...
Glossary
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HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.