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Coca-Cola HBC logo
EEEConsumer Defensive · Beverages - Non-Alcoholic · ΧΑ

Coca-Cola HBC

€54.50
−0.30(−0.55%)
Close 26/10/2026 · end-of-day price, not real-time

Coca-Cola HBC (EEE) closed at €54.50 on 26/10/2026, -0.55% on the day. Market cap €19.8bn, P/E 20.0, dividend yield 2.20%.

My view
Private · MENTOR takes it into account
+11.8%6M
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26/10/2026Close 54.50−0.55%+11.8% since start

Key statistics

12 months to Jun 2026 unless a figure says otherwise

Profile

At the 26 Oct close
Market value
€19.8bn
Enterprise valueJun 2026est.
€21.3bn
Shares outstandingDec 2025
363.5m
Revenue12 months to Jun 2026
€12.2bn
Employees
33,500
Free float
53.5%
Traded a day, 3-month average
€2.1m

Valuation

12 months to Jun 2026
P/E
20.0×
P/B
4.8×
EV/Salesest.
1.7×
EV/EBITDAest.
11.3×

5 years, on reported full years: 7.6–13.4×, median 9.4×. Today 12.0×, higher than 85% of months.

P/FCF
26.6×
Dividend yield
2.2%

Margins

12 months to Jun 2026
GrossFY2025
36.8%
EBITDA
15.5%
Operating (EBIT)
11.5%
Pre-taxFY2025
11.2%
Net
8.1%
Free cash flow
6.1%

Net margin = the shareholders' profit ÷ group revenue.

Returns

12 months to Jun 2026
ROE
24.3%
ROCE
25.1%
ROICest.
18.1%
ROAFY2025
8.1%
ROE, 5-year averageFY2021–25
20.9%
Tax rateFY2025
28.0%

Financial health

Jun 2026
CashDec 2025
€2.5bn
Net debt
€1.4bn
Net debt ÷ EBITDA
0.75×
Debt ÷ equityDec 2025
99.3%
Interest cover12 months to Jun 2026
180.5×

Growth

Revenue, last yearFY2025
+7.9%
Revenue, last halfH1 2026
+10.8%
EPS, last yearFY2025
+15.1%
EPS, last halfH1 2026
+10.8%
Revenue, 3 yearsFY2022–25, a year
+8.1%
Revenue, 5 yearsFY2020–25, a year
+13.6%
EPS, 3 yearsFY2022–25, a year
+31.8%
Shares, 3 yearsFY2022–25
−0.9%

Dividends

FY2025
Yield, last 12 months
2.2%
Per share
€1.200
Payout
46.3%
Covered by free cash flow
1.7×
Years paid, last fiveFY2021–25
5

Trading and risk

From our closes, dividends reinvested
Total return, 1 year
+39.9%
3 years, a year
+33.6%
5 years, a year
+16.3%
10 years, a year
+13.2%
Volatility, 1 year
24.1%
Beta to the General Index
0.21×
Deepest fall, 1 year / 5 years
−17.0% / −43.7%
52-week range
€39.02–€59.90
est.worked out by us

Where the figures come from: the company's reports, reviewed by us · annual accounts filed in ESEF format · results announcements on the exchange · our own closing prices. No forecasts or target prices are stored.

Financial charts

From the stored figures: the reviewed dossier first, then the annual reports (ESEF) and results announcements

Loading the charts…

Valuation

no like-for-like peer
MetricEEE
P/E20.0
P/B4.8
P/S1.6
EV/EBITDA11.3
Dividend yield2.2%
Payout ratio46.3%
Gross margin36.8%
Operating margin11.5%
Net margin8.1%
ROE24.3%
Revenue growth (last full year)7.9%
Net debt€1.4bn
Twelve Data · latest quarter 30/06/2026

Peers: Beverages

No other company listed in Athens runs this business.

EV/EBITDADay
Coca-Cola HBCEEE11.3−0.5%

The company

AI-drafted

The largest Coca-Cola bottler in Europe and Africa. It produces and distributes soft drinks, energy drinks, water, juice, coffee and premium spirits in 29 countries, from Ireland to Nigeria and Egypt. A Swiss company with a primary listing in London and a secondary listing in Athens.

How it makes moneyFY2025 · basis: revenue
  • Emerging markets347%
  • Established markets331%
  • Developing markets322%
It is
  • A bottler: it buys concentrate from The Coca-Cola Company, produces in 62 plants and sells per unit case to retail and hospitality across 29 countries.2,3
  • Predominantly an emerging-markets business: 47% of FY2025 revenue and 54% of comparable EBIT came from Emerging markets.3,4
It is not
  • It is not The Coca-Cola Company: it does not own the trademarks and must buy all its concentrate from it.3
  • It is not a Greek company: since 2013 the parent has been a Swiss AG and Athens is a secondary listing.3
Recent developmentsAll company events →
  • Sep 2026Management expects CCBA to close in Q4 2026; South African and Tanzanian approvals remain pending.7
  • Aug 2026H1 2026 results: organic revenue up 9.6%, comparable EBIT of €760.1m and an upgrade to 2026 guidance.2
  • Jul 2026The South African Competition Commission recommended approval of the CCBA acquisition subject to conditions, including a secondary listing in Johannesburg.5,6
  • Jun 2026The €1.20 per share dividend, €441.5m in total, was paid.2
  • Apr 2026€2.1bn of bonds in three tranches maturing to 2033 were issued to fund CCBA; the €2.5bn bridge facility was cancelled.2
  • Oct 2025Agreement to acquire 75% of Coca-Cola Beverages Africa for $2.6bn, with an option over the remaining 25%.3,5
Key figures
  • Volume 1,573.5m unit cases H1 20262
  • Revenue per unit case €3.96 H1 20262
  • Comparable EBIT margin 12.2% H1 20262
  • Return on invested capital 19.4% FY20251
  • Net debt to EBITDA 0.7x FY20251
Key facts
  • At 3 July 2026 issuer-defined net debt was €1,413.6m; it excludes €288.7m of lease liabilities and the unpaid CCBA consideration.2
  • Principal shareholders are Kar-Tess Holding with 22.9% and The Coca-Cola Company with 21.0%; no other holder is above 5%.3
  • The bottlers' agreements with The Coca-Cola Company were renewed from 1 January 2024 for ten years, with an option for a further ten.3
  • Russia produced €1,613.3m of FY2025 revenue, and €1,040.5m of group cash sat with the Russian operations at 3 July 2026, where profit repatriation is restricted.2,3
  • The FY2025 dividend was €1.20 per share, up 17%, a 44% payout.1
Sources
  1. 1.Results for the year ended 31 December 2025Coca-Cola HBC AG · 10/02/2026official
  2. 2.Half-yearly financial report for the six months ended 3 July 2026Coca-Cola HBC AG · 05/08/2026official
  3. 3.Integrated Annual Report 2025Coca-Cola HBC AG · 20/03/2026official
  4. 4.Full-year 2025 results factsheetCoca-Cola HBC AG · 10/02/2026official
  5. 5.Acquisition of Coca-Cola Beverages Africa factsheetCoca-Cola HBC AG · 05/08/2026official
  6. 6.South Africa watchdog backs Coca-Cola HBC bottling buyJust Drinks · 14/07/2026
  7. 7.CEO fireside chat at Barclays Global Consumer Conference, transcriptCoca-Cola HBC AG · 09/09/2026official
AI-drafted from the cited sources · 24/09/2026 · v5 · ✓ checked by an independent second modelCoca-Cola HBC AGWebsite ↗
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Why it moved
-0.55% · volume 0.5×
News & events
News and what's next
Peers
No listed peers
Results
How it did vs last year
Valuation
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Data: Twelve Data · End-of-day prices · Nothing here is investment advice.