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Fevertree Drinks
(LSE:FEVR)
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Rating:64Neutral
Price Target:
983.00 p
â–²(15.24% Upside)
Action:Reiterated
Date:09/15/26
The score is driven primarily by solid underlying financial resilience (notably the very strong, low-leverage balance sheet) and a very constructive earnings-call outlook pointing to accelerating U.S. growth and meaningful medium-term profit uplift. Offsetting these positives are weak current technical momentum and a high P/E that leaves less room for near-term execution risk, especially given recent margin compression and cash-flow volatility.
Positive Factors
Very Low Leverage
Very low leverage gives Fever-Tree capacity to withstand operating volatility, fund brand and distribution investment, and pursue growth without heavy financing constraints. Stable equity returns also indicate that its substantial capital base is being used productively.
Negative Factors
Revenue Decline and Margin Compression
The recent combination of lower revenue and materially reduced margins weakens the quality of the earnings base. Even with positive EBIT and net income, sustained recovery depends on rebuilding growth and protecting profitability against ongoing cost and mix pressure.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Very low leverage gives Fever-Tree capacity to withstand operating volatility, fund brand and distribution investment, and pursue growth without heavy financing constraints. Stable equity returns also indicate that its substantial capital base is being used productively.
Read all positive factors
Fevertree Drinks (FEVR) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.00B
Dividend Yield1.91%
Average Volume (3M)560.30K
Price to Earnings (P/E)42.2
Beta (1Y)1.13
Revenue Growth1.74%
EPS Growth2.83%
CountryUK
Employees285
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)0.22
Shares Outstanding109,863,890
10 Day Avg. Volume490,352
30 Day Avg. Volume560,302
Financial Highlights & Ratios
PEG Ratio-4.53
Price to Book (P/B)4.42
Price to Sales (P/S)3.03
P/FCF Ratio32.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£911.00Price Target Upside6.80% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)0.28
Revenue Forecast (FY)£400.59M
Fevertree Drinks Business Overview & Revenue Model
Company Description
Fevertree Drinks Plc, together with its subsidiaries, specializes in crafting and distributing premium mixer beverages across the United Kingdom, the United States, Europe, and other international markets. Its diverse product portfolio includes po...
How the Company Makes Money
Fever-Tree makes money primarily by selling branded premium mixers (e.g., tonic water, ginger beer, soda water and other carbonated mixers) to customers in different channels and geographies. Revenue is generated from the invoiced sale of finished...
Fevertree Drinks Earnings Call Summary
Earnings Call Date:Sep 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Mar 30, 2027
Earnings Call Sentiment Positive
The call was strongly positive. Management reported broad-based first-half growth, improving margins and EPS, accelerating U.S. momentum, successful diversification, strong cash generation, and confidence in a circa 60% EBITDA uplift over the next two years. The main challenges were the expected short-term U.S. margin impact from elevated marketing investment, the GBP 2.6 million EPR provision, U.K. on-trade challenges, European revenue phasing, and delayed working-capital benefits from U.S. onshoring.Positive Updates
Strong First-Half Group Performance
Brand revenue increased by 8% at constant currency, with growth across every key region. The U.S. grew 11%, Europe grew 10%, the U.K. returned to growth, and the rest of the world made good progress.
Negative Updates
U.S. EBITDA Margin Decline
U.S. EBITDA margin reduced as expected, largely reflecting up-weighted marketing investment. Management said incremental U.S. marketing investment is expected to moderate to more typical levels over the medium term.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong First-Half Group Performance
Brand revenue increased by 8% at constant currency, with growth across every key region. The U.S. grew 11%, Europe grew 10%, the U.K. returned to growth, and the rest of the world made good progress.
Read all positive updates
Company Guidance
For FY 2026, Fever-Tree expects U.S. revenue growth to accelerate as the year progresses, the rest of the group to deliver good underlying growth, reported revenue in Europe to be impacted as phasing benefits from the first half of the year unwind, and EBITDA to be in line with expectations; U.S. tariff refunds received in the second half will offset the full-year impact of the incremental GBP 2.6 million EPR provision, working capital will be similar year-on-year and significantly below historic levels, and the company remains confident of delivering high teens, 20% growth in the U.S. next year, with U.S. and group profitability expected to see a step change in 2027 and 2028, supporting consensus expectations of the circa 60% uplift in EBITDA over the next two years and at least GBP 100 million of free cash flow across 2027 and 2028; group EBITDA margin is expected to move from about 12.5% this year to high 14%-15%.Fevertree Drinks Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
88
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 345.80M | 325.00M | 368.50M | 364.40M | 344.30M | 311.10M |
| Gross Profit | 106.80M | 107.30M | 138.40M | 109.00M | 118.80M | 130.90M |
| EBITDA | 38.80M | 36.90M | 45.70M | 30.80M | 37.20M | 60.60M |
| Net Income | 25.20M | 22.60M | 24.40M | 15.40M | 24.90M | 44.60M |
Balance Sheet | ||||||
| Total Assets | 266.00M | 287.00M | 321.90M | 313.70M | 311.60M | 336.10M |
| Cash, Cash Equivalents and Short-Term Investments | 68.00M | 91.10M | 96.00M | 59.90M | 95.30M | 166.20M |
| Total Debt | 3.80M | 3.80M | 12.10M | 15.20M | 16.90M | 2.90M |
| Total Liabilities | 64.70M | 63.90M | 75.20M | 75.90M | 72.40M | 54.50M |
| Stockholders Equity | 201.30M | 223.10M | 246.70M | 237.80M | 239.20M | 281.60M |
Cash Flow | ||||||
| Free Cash Flow | 31.30M | 30.30M | 56.10M | -13.40M | 1.40M | 42.20M |
| Operating Cash Flow | 35.60M | 33.60M | 70.20M | -3.80M | 8.50M | 46.80M |
| Investing Cash Flow | -3.70M | 13.10M | -10.80M | -9.60M | -10.00M | -4.30M |
| Financing Cash Flow | -94.10M | -51.20M | -23.60M | -23.10M | -70.70M | -19.30M |
Fevertree Drinks Technical Analysis
Positive
853.00
Price Trends
853.16
Positive
837.04
Positive
831.30
Positive
Market Momentum
25.17
Negative
61.90
Neutral
72.54
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FEVR, the sentiment is Positive. The current price of 853 is below the 20-day moving average (MA) of 889.13, below the 50-day MA of 853.16, and above the 200-day MA of 831.30, indicating a bullish trend. The MACD of 25.17 indicates Negative momentum. The RSI at 61.90 is Neutral, neither overbought nor oversold. The STOCH value of 72.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:FEVR.
Fevertree Drinks Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | £405.92M | 17.08 | 24.74% | 3.50% | 2.73% | 37.06% | |
71 Outperform | £641.90M | 14.07 | 13.40% | 3.31% | 6.88% | -5.66% | |
68 Neutral | £16.88B | 20.08 | 25.10% | 2.21% | 12.76% | 12.70% | |
64 Neutral | £1.00B | 42.23 | 11.88% | 1.91% | 1.74% | 2.83% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
58 Neutral | £377.91M | 106.74 | 0.81% | 4.26% | -2.97% | -79.32% | |
50 Neutral | £72.90M | 223.68 | 0.97% | ― | 22.07% | ― |
* Consumer Defensive Sector Average
GB:FEVR
Fevertree Drinks
911.00
86.21
10.45%
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AG Barr
577.00
-72.40
-11.15%
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1,250.49
36.98%
GB:NICL
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12.02%
GB:CCR
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-20.84%
GB:CDGP
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2.50
6.25%
Fevertree Drinks Corporate Events
Other
Fever-Tree Director David Lapp Buys 23,800 Shares in Insider Deal
Positive
Oct 22, 2026
Fever-Tree Drinks has disclosed that non-executive director David Lapp purchased 23,800 ordinary shares in the company on 20 October 2026 at an average price of £9.355 per share. The London Stock Exchange transaction, classified as a PDMR dea...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Fever-Tree Launches Share Buyback and Plans Share Cancellation
Positive
Oct 20, 2026
Fevertree Drinks plc has executed a series of share buybacks between 12 and 16 October 2026 on the London Stock Exchange’s main market and AIM, purchasing ordinary shares at volume‑weighted average prices ranging from about 877p to 916...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Fever-Tree Launches Share Buyback and Plans Cancellation of Repurchased Stock
Positive
Oct 13, 2026
Fevertree Drinks plc has undertaken a share buyback programme, purchasing a series of ordinary shares on the London Stock Exchange’s main market and AIM between 5 and 9 October 2026 through its broker Investec Bank. The transactions were exe...
Business Operations and StrategyStock Buyback
Fevertree Cancels Shares After Buyback on London Markets
Positive
Oct 6, 2026
Fevertree Drinks has repurchased a series of ordinary shares on the London Stock Exchange’s main market and AIM between 28 September and 2 October 2026 under the authority granted at its 2025 AGM. The transactions, executed by Investec Bank,...
Regulatory Filings and Compliance
Fever-Tree Confirms Total Voting Rights Following Share Capital Update
Neutral
Oct 1, 2026
Fever-Tree has confirmed that its total issued share capital stands at 110,563,655 ordinary shares of 0.25p each, with one voting right attached to every share and no shares held in treasury. As a result, the total number of voting rights in the c...
Business Operations and StrategyStock Buyback
Fever-Tree Cancels Shares After Late-September Buyback
Positive
Sep 29, 2026
Fevertree Drinks plc has executed a share buyback, purchasing a series of ordinary shares on the London Stock Exchange’s main market (XLON) and AIM (AIMX) between 21 and 25 September 2026. The trades were carried out via its broker Investec ...
Business Operations and StrategyStock Buyback
Fever-Tree cancels newly repurchased shares in latest buyback
Positive
Sep 22, 2026
Fevertree Drinks plc has repurchased a series of its own ordinary shares on U.K. venues, including the London Stock Exchange main market and AIM, between 14 and 18 September 2026. The buyback, executed via Investec Bank under previously granted sh...
Business Operations and StrategyStock Buyback
Fever-Tree Moves to Cancel Shares After Targeted Buyback
Positive
Sep 15, 2026
Fever-Tree Drinks has moved to buy back its own shares, purchasing ordinary stock through Investec Bank between 7 and 11 September on the London Stock Exchange’s main market and AIM. The programme, executed under shareholder authority grante...
Business Operations and StrategyRegulatory Filings and Compliance
Fever-Tree chair boosts stake with share purchase on London market
Positive
Sep 14, 2026
Fever-Tree, the premium mixers producer, reported that its non-executive chair, Domenic De Lorenzo, has increased his stake in the company through a share purchase on the London Stock Exchange. He acquired 44,674 ordinary shares at an average pric...
Other
Fever-Tree Chair Increases Stake with Share Purchase
Positive
Sep 14, 2026
Fever-Tree Drinks reported that its Non-Executive Chair, Domenic De Lorenzo, has acquired 44,674 ordinary shares in the company on the London Stock Exchange. The shares were purchased on 11 September 2026 at an average price of £7.7955, in a ...
Business Operations and StrategyStock BuybackFinancial Disclosures
Fevertree lifts revenues and earnings as U.S. and U.K. growth gather pace
Positive
Sep 10, 2026
Fevertree Drinks reported interim results for the six months to 30 June 2026 showing Fever-Tree brand revenue up 8% at constant currency to £183.6 million, with growth across all regions and record retail market share in ginger beer and tonic...
Business Operations and StrategyStock Buyback
Fever-Tree Moves to Cancel Shares After Early September Buyback
Positive
Sep 8, 2026
Fevertree Drinks plc has repurchased a series of ordinary shares on both the London Stock Exchange and AIM between 1 September and 4 September 2026 under authority granted at its 2025 AGM. The trades, executed via broker Investec Bank, were carrie...
Business Operations and StrategyStock Buyback
Fever-Tree Cancels Shares After Late-August Buyback Spree
Positive
Sep 2, 2026
Fevertree Drinks has launched a share buyback programme, purchasing tens of thousands of ordinary shares on the London Stock Exchange and AIM between 24 and 28 August 2026 at volume-weighted average prices around 851–860 pence. The company h...
Regulatory Filings and Compliance
Fever-Tree Clarifies Total Voting Rights and Share Capital Structure
Neutral
Sep 1, 2026
Fever-Tree Drinks has confirmed that its total issued share capital comprises 111,504,742 ordinary shares, each carrying one voting right, and that it holds no shares in treasury. The declaration sets the official total number of voting rights at ...
Business Operations and StrategyStock Buyback
Fevertree Drinks to Cancel Shares After August Buyback Programme
Positive
Aug 25, 2026
Fevertree Drinks plc has initiated a share buyback programme, purchasing a series of ordinary shares on the London Stock Exchange and AIM between 17 August and 21 August 2026 through its broker Investec Bank. The transactions were executed under s...
Business Operations and StrategyStock Buyback
Fever-Tree Launches Share Buyback and Plans Cancellation of Repurchased Stock
Positive
Aug 18, 2026
Fevertree Drinks plc has repurchased a series of ordinary shares between 10 and 14 August 2026 on the London Stock Exchange’s main market and AIM, acting under a previously approved shareholder authority. The trades, executed via Investec Ba...
Business Operations and StrategyStock Buyback
Fever-Tree Cancels Shares After August Buyback Programme
Positive
Aug 11, 2026
Fever-Tree Drinks plc has been actively repurchasing its own ordinary shares, executing buybacks through Investec Bank on London venues between 3 August and 7 August 2026. The trades were conducted under authority granted at the 2025 annual meetin...
Business Operations and StrategyStock Buyback
Fevertree Cancels Shares After New Buyback Round
Positive
Aug 4, 2026
Fevertree Drinks has launched a share buyback, purchasing ordinary shares on the London Stock Exchange and AIM between 27 July and 31 July 2026 through Investec Bank. The trades were executed at volume-weighted average prices in the low- to mid-80...
Regulatory Filings and Compliance
Fever-Tree Confirms Total Voting Rights at 112.3 Million Shares
Neutral
Aug 3, 2026
Fever-Tree Drinks has confirmed that its total issued share capital stands at 112,264,945 ordinary shares of 0.25p each, with one voting right per share and no shares held in treasury. This establishes the company’s total voting rights at 11...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.