# Coca-Cola HBC AG (CCH.L) fundamentals

Data as of 2026-09-08. LSE, United Kingdom. Sector: Consumer Defensive / Beverages. Price 4582p, market value 16.7 billionp.

## Valuation
- **P/E (trailing): 19.5×** (5-yr avg 1501.4×, 3-yr avg 1350.3×). Coca-Cola HBC AG trades at 19.5× trailing earnings, well below its own five-year average of 1501.4×: cheap by its own standards. The Consumer Defensive median in the September 2026 study was 20.1×. Forward P/E is 16.5×, lower than trailing, so analysts expect earnings to grow.
- **PEG: 1.23**. A PEG of 1.23 is in the range usually read as fairly priced for its growth.
- **Price / sales: 0.9×**. Each dollar of revenue is priced at 0.9×, a low multiple typical of thin-margin businesses or out-of-favour stocks.
- **Price / book: 4.7×**. The shares trade at 4.7× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 6.4×**. Enterprise value is 6.4× operating earnings before depreciation, the multiple that ignores how the company is financed; below 8× is inexpensive for most sectors.
- **Free-cash-flow yield: 8.0%** (5-yr avg 0.1%). Free cash flow equals 8.0% of the market value, above its five-year average of 0.1%, so the shares are cheaper on cash than they have usually been. Above 5% is generally attractive.
- **Earnings yield: 5.1%**. The inverse of the P/E: 5.1% of the price is earned each year.

## Profitability
- **Gross margin: 36.4%**. Coca-Cola HBC AG keeps 36.4% of revenue after the direct cost of what it sells.
- **Operating margin: 11.1%**. 11.1% of revenue is left after running the business.
- **Net margin: 8.1%**. 8.1% of each dollar of sales reaches the bottom line.
- **Return on equity: 24.0%**. 24.0% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 35.7%**. Return on all capital, debt included, is 35.7%: comfortably above what that capital costs.
- **Return on assets: 15.2%**. Each dollar of assets produces 15.2% of profit.

## Growth
- **Revenue growth (1 yr): 6.0%** (3-yr 7.4%/yr, 5-yr 13.2%/yr). Revenue grew 6.0% over the last year, against 13.2% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): 13.3%** (3-yr 31.2%/yr, 5-yr 17.5%/yr). Earnings per share rose 13.3%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 1.0%/yr**. Free cash flow has compounded at 1.0% a year over three years, lagging earnings: check whether profits are turning into cash.

## Financial health
- **Debt to equity: 1.02**. Debt is 1.02 times equity, a leveraged balance sheet that needs steady cash flow to service.
- **Net debt / EBITDA: 0.4×**. It would take 0.4 years of operating earnings to repay net borrowings, within the comfortable range.
- **Interest coverage: 36.3×**. Operating profit covers interest 36.3× over, a safe margin.
- **Current ratio: 1.19** (quick 0.99). Current assets cover the next year's liabilities 1.19 times.
- **Altman Z-score: 3.17**. A Z-score of 3.17 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 8/9**. 8 of 9 fundamental checks pass: strong and improving financials.

## Dividends
- **Dividend yield: 2.29%** (1p per share, trailing). Coca-Cola HBC AG yields 2.29%, a modest yield more typical of a growth-oriented payer.
- **Payout ratio: 40%** (47% of free cash flow). 40% of earnings goes out as dividends, leaving room to keep raising it.
- **Consecutive years of increases: 5**. 5 straight years of increases.
- **Dividend growth (5 yr): 10.7%/yr** (1-yr 10.8%). The dividend has compounded at 10.7% a year over five years, doubling roughly every 7 years at that pace.
- **Shareholder yield: 3.2%**. Dividends plus net buybacks return 3.2% of the market value a year.

## Analyst view
- **Analyst consensus: buy** (16 analysts). 16 analysts cover Coca-Cola HBC AG; the consensus is buy, with an average price target of 5128p (+12% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 18.9%** (YTD 17.0%, 3-mo 3.6%). The shares are up 18.9% over twelve months including dividends.
- **From 52-week high: -11.8%** (40.1% above the low). Trading 12% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 39**. An RSI of 39 is neutral.
- **Beta (1 yr): 0.90** (volatility 23%). Beta of 0.90 against the FTSE All-Share: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CCH.L · Page: https://foliofundamentals.com/stocks/cch.l

Not investment advice.