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Coca-Cola HBC AG (EEE) Fair Value & Analysis

Consumer Defensive · GR · Market cap €19.3B

CC Coca-Cola HBC AG EEE · AT
Price€54.30
Fair Value€46.77
Upside-13.9%
Quality66/100
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Healthy Growth
Thin margins · 8.1% net margin
Moderate debt · generates free cash flow
2.26% dividend yield
Wide moat 67/100
Evidence: High Range €27.04 – €67.73 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from €52.82 to €46.77 (−11.5%) since Jul 15, 2026. Share price −5.6% over the past month.

A solid business, but screening 14% overvalued on our models.

What matters now

  • Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€27.04 to €67.73) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€59.90 €16.44 Fair Value €46.77 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range €16.44 – €59.90 · fair‑value band €27.04 – €67.73 · the €54.30 price screens above the €46.77 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Coca-Cola HBC AG (EEE) currently trades at €54.30, while our model-based Fair Value estimate is €46.77, implying the stock looks roughly 13.9% overvalued today. The Quality Score stands at 66/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Coca-Cola HBC AG generated revenue of €11.6B at a net margin of 8.1%. Revenue grew 7.3% year over year. It earns a return on equity of 26.0%. Net debt stands at €1.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from €27.04 (bear case) to €67.73 (bull case); at €54.30, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 3% below its 52-week high and 43% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -22% fair-value upside, at -14%, EEE screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF €24.01 €39.50 €64.13 80
Residual Income €16.86 €22.07 €103.69 76
Rev-Margin DCF €28.76 €49.52 €74.36 74
All 26 models by family
DCF Models
FCF DCF €23.79 €39.61 €64.87 38
Owner Earnings €19.00 €31.75 €52.12 31
5Y Revenue Exit €28.76 €49.89 €77.64 39
5Y EBITDA Exit €35.60 €63.12 €96.24 41
5Y P/E Exit €31.63 €55.44 €81.28 38
10Y Revenue Exit €25.71 €44.82 €72.03 36
10Y EBITDA Exit €31.19 €54.18 €86.69 37
10Y P/E Exit €28.62 €48.75 €74.90 35
Earnings-Based
Graham-Dodd €17.55 €63.73 €85.96 54
Lynch FV €15.14 €21.62 €28.11 50
PEG = 1.0 €15.14 €21.62 €28.11 46
EPV €28.69 €33.63 €37.95 59
Dividend Discount
Gordon GGM €9.43 €19.61 €31.11 70
DDM Multi-Stage €9.43 €16.54 €20.58 61
Multiples
P/E Multiple €40.64 €54.18 €67.73 63
P/S Multiple €32.90 €43.86 €54.83 58
P/B Multiple €32.90 €43.86 €54.83 55
EV/EBIT €46.01 €61.66 €77.32 53
EV/EBITDA €46.34 €62.11 €77.88 54
EV/Revenue €32.47 €46.80 €61.13 43
Asset-Based
NCAV (Graham) €5.27 €7.07 €10.55 50
Growth DCF
Growth DCF €24.01 €39.50 €64.13 80
Rev-Margin DCF €28.76 €49.52 €74.36 74
Economic Profit
Residual Income €16.86 €22.07 €103.69 76
ROIC Compounder €31.44 €40.60 €51.53 72
Growth Earnings
Growth-Adj P/E €28.61 €40.87 €53.14 68

Widest divergence: DCF Models (€48.75) versus Asset-Based (€7.07). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €11.6B
Revenue growth (YoY) +7.3%
Net margin 8.1%
Return on equity 26.0%
Free cash flow €761M FY2025
P/E ratio 21.0
More key figures
Operating margin 11.7%
EPS (TTM) €2.59
Dividend yield 2.3%
EPS growth (YoY) +7.0%
Net debt €1.1B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 66/100

Of which business quality 63 · Market factors (momentum, volatility) 72

Profitability 64
Margins and returns on capital today
Quality Growth 50
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 68
Balance sheet, leverage, solvency risk
Investment 73
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 73
Distance to the 52-week high (market factor)
Net Issuance 81
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages under franchise in Switzerland and internationally.

Full company description

Coca-Cola HBC AG engages in the production, distribution, and sale of non-alcoholic ready-to-drink beverages under franchise in Switzerland and internationally. The company offers sparkling soft drinks, adult sparkling, hydration drinks, juices, ready-to-drink tea, energy drinks, dairy, coffee, water, plant-based drinks, premium spirits and flavored alcoholic beverages, and snacks. It markets and sells its products under several brands, including Coca-Cola, Fanta, Sprite, Adez, Averna, Amita, Aquarius, Aperol, Avra, Deep RiverRock, Fruice, Kinley, Schweppes, and various other brands; and distributes third-party products, such as Monster energy drinks, and beer. The company serves retail outlets, include supermarkets, discounters, convenience stores, wholesalers, hotels, restaurants, cafés, and e-commerce retailers. Coca-Cola HBC AG was founded in 1969 and is headquartered in Steinhausen, Switzerland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Coca-Cola HBC AG reported revenue of €11.6B in FY2025 versus €7.2B in FY2021, a compound +12.8%/yr. Reported net income was €940M in FY2025, compounding +14.5%/yr from FY2021.

Growth Quality 89/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€11.6B
Latest YoY
+7.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+8.1%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+13.6%
Avg. growth/yr (10Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+6.2%
Revenue +12.8%/yr
FY21 €7.2B
FY22 €9.2B
FY23 €10.2B
FY24 €10.8B
FY25 €11.6B
Net income +14.5%/yr
FY21 €547M
FY22 €415M
FY23 €637M
FY24 €821M
FY25 €940M

EEE screens 14% overvalued. Compare with PepsiCo, Inc →

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Cite: Fair Value Calculator (2026). "Coca-Cola HBC AG Fair Value". https://www.fairvalue-calculator.com/stock/EEE

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

Alcohol

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Beverages - Non-Alcoholic stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
The Coca-Cola Company KO $86.71 $36.57 -58%
PepsiCo, Inc PEP $138.70 $106.91 -23%
Monster Beverage Corporation MNST $45.98 $35.82 -22%
Nongfu Spring Co 9633 HK$42.54 HK$30.90 -27%
Coca-Cola Europacific Partners PLC CCEP €92.10 €70.86 -23%
Keurig Dr Pepper Inc KDP $29.56 $30.99 +5%
Coca-Cola FEMSA, S.A. KOFUBL 180.76 MXN 159.53 MXN -12%
Arca Continental, S.A. AC 198.23 MXN 242.13 MXN +22%
Varun Beverages Limited VBL ₹438.45 ₹187.49 -57%
Eastroc Beverage (Group) Co 605499 ¥127.90 ¥107.57 -16%

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Frequently asked questions

Is Coca-Cola HBC AG (EEE) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €46.77 versus a price of €54.30, about −14% (overvalued).
What is the fair value of EEE?
Our model-based fair value for Coca-Cola HBC AG is €46.77 (as of Aug 13, 2026), built from audited fundamentals. The current price is €54.30.
What is the quality score of EEE?
Coca-Cola HBC AG has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Coca-Cola HBC AG (EEE)?
Coca-Cola HBC AG reported trailing-twelve-month revenue of about €11.6B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of EEE?
The net profit margin of Coca-Cola HBC AG is about 8.1%, meaning it keeps roughly 8.1% of revenue as net income. Based on the latest reported figures.
Does Coca-Cola HBC AG pay a dividend?
Coca-Cola HBC AG currently shows a dividend yield of about 2.26% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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