Loading...

Coca-Cola Amatil

ASX:CCL
Snowflake Description

Excellent balance sheet average dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CCL
ASX
A$8B
Market Cap
  1. Home
  2. AU
  3. Food, Beverage & Tobacco
Company description

Coca-Cola Amatil Limited, together with its subsidiaries, manufactures, distributes, and markets non-alcoholic and alcoholic ready-to-drink beverages in Australia, New Zealand, Fiji, Indonesia, Papua New Guinea, and Samoa. The last earnings update was 145 days ago. More info.


Add to Portfolio Compare Print
CCL Share Price and Events
7 Day Returns
1.9%
ASX:CCL
2%
AU Beverage
-0.6%
AU Market
1 Year Returns
7.7%
ASX:CCL
-4.5%
AU Beverage
5.1%
AU Market
CCL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Coca-Cola Amatil (CCL) 1.9% 4.5% 21.8% 7.7% 16.1% 11.2%
AU Beverage 2% 4.4% 7.4% -4.5% 40.5% 77.6%
AU Market -0.6% 2.3% 6.8% 5.1% 21.2% 13.1%
1 Year Return vs Industry and Market
  • CCL outperformed the Beverage industry which returned -4.5% over the past year.
  • CCL outperformed the Market in Australia which returned 5.1% over the past year.
Price Volatility
CCL
Industry
5yr Volatility vs Market

CCL Value

 Is Coca-Cola Amatil undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Coca-Cola Amatil to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Coca-Cola Amatil.

ASX:CCL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
Perpetual Growth Rate 10-Year AU Government Bond Rate 2.3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ASX:CCL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AU Govt Bond Rate 2.3%
Equity Risk Premium S&P Global 6%
Beverage Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.56 (1 + (1- 30%) (32.84%))
0.792
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.31% + (0.8 * 5.96%)
7.08%

Discounted Cash Flow Calculation for ASX:CCL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Coca-Cola Amatil is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ASX:CCL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (AUD, Millions) Source Present Value
Discounted (@ 7.08%)
2020 391.29 Analyst x2 365.41
2021 425.04 Analyst x1 370.69
2022 430.41 Analyst x1 350.56
2023 437.18 Est @ 1.57% 332.53
2024 445.03 Est @ 1.79% 316.11
2025 453.70 Est @ 1.95% 300.97
2026 463.04 Est @ 2.06% 286.85
2027 472.93 Est @ 2.13% 273.61
2028 483.27 Est @ 2.19% 261.11
2029 494.03 Est @ 2.23% 249.27
Present value of next 10 years cash flows A$3,107.11
ASX:CCL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= A$494.03 × (1 + 2.31%) ÷ (7.08% – 2.31%)
A$10,600.83
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= A$10,600.83 ÷ (1 + 7.08%)10
A$5,348.80
ASX:CCL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= A$3,107.11 + A$5,348.80
A$8,455.91
Equity Value per Share
(AUD)
= Total value / Shares Outstanding
= A$8,455.91 / 724.00
A$11.68
ASX:CCL Discount to Share Price
Calculation Result
Value per share (AUD) From above. A$11.68
Current discount Discount to share price of A$10.46
= -1 x (A$10.46 - A$11.68) / A$11.68
10.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Coca-Cola Amatil is available for.
Intrinsic value
10%
Share price is A$10.46 vs Future cash flow value of A$11.68
Current Discount Checks
For Coca-Cola Amatil to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Coca-Cola Amatil's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Coca-Cola Amatil's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Coca-Cola Amatil's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Coca-Cola Amatil's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ASX:CCL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in AUD A$0.55
ASX:CCL Share Price ** ASX (2019-07-15) in AUD A$10.46
Oceania Beverage Industry PE Ratio Median Figure of 6 Publicly-Listed Beverage Companies 25.77x
Australia Market PE Ratio Median Figure of 546 Publicly-Listed Companies 16.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Coca-Cola Amatil.

ASX:CCL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ASX:CCL Share Price ÷ EPS (both in AUD)

= 10.46 ÷ 0.55

18.86x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Coca-Cola Amatil is good value based on earnings compared to the Oceania Beverage industry average.
  • Coca-Cola Amatil is overvalued based on earnings compared to the Australia market.
Price based on expected Growth
Does Coca-Cola Amatil's expected growth come at a high price?
Raw Data
ASX:CCL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.86x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
1.1%per year
Oceania Beverage Industry PEG Ratio Median Figure of 5 Publicly-Listed Beverage Companies 1.52x
Australia Market PEG Ratio Median Figure of 361 Publicly-Listed Companies 1.37x

*Line of best fit is calculated by linear regression .

ASX:CCL PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.86x ÷ 1.1%

17.02x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Coca-Cola Amatil is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Coca-Cola Amatil's assets?
Raw Data
ASX:CCL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in AUD A$2.13
ASX:CCL Share Price * ASX (2019-07-15) in AUD A$10.46
Australia Beverage Industry PB Ratio Median Figure of 7 Publicly-Listed Beverage Companies 2.27x
Australia Market PB Ratio Median Figure of 1,693 Publicly-Listed Companies 1.68x
ASX:CCL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ASX:CCL Share Price ÷ Book Value per Share (both in AUD)

= 10.46 ÷ 2.13

4.9x

* Primary Listing of Coca-Cola Amatil.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Coca-Cola Amatil is overvalued based on assets compared to the AU Beverage industry average.
X
Value checks
We assess Coca-Cola Amatil's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Beverage industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Beverage industry average (and greater than 0)? (1 check)
  5. Coca-Cola Amatil has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CCL Future Performance

 How is Coca-Cola Amatil expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
1.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Coca-Cola Amatil expected to grow at an attractive rate?
  • Coca-Cola Amatil's earnings growth is positive but not above the low risk savings rate of 2.3%.
Growth vs Market Checks
  • Coca-Cola Amatil's earnings growth is positive but not above the Australia market average.
  • Coca-Cola Amatil's revenue growth is positive but not above the Australia market average.
Annual Growth Rates Comparison
Raw Data
ASX:CCL Future Growth Rates Data Sources
Data Point Source Value (per year)
ASX:CCL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 1.1%
ASX:CCL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 3%
Oceania Beverage Industry Earnings Growth Rate Market Cap Weighted Average 12.1%
Oceania Beverage Industry Revenue Growth Rate Market Cap Weighted Average 7.4%
Australia Market Earnings Growth Rate Market Cap Weighted Average 7.3%
Australia Market Revenue Growth Rate Market Cap Weighted Average 3.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ASX:CCL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in AUD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ASX:CCL Future Estimates Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 5,321 425 2
2021-12-31 5,264 684 407 7
2020-12-31 5,090 659 391 9
2019-12-31 4,950 638 363 9
ASX:CCL Past Financials Data
Date (Data in AUD Millions) Revenue Cash Flow Net Income *
2018-12-31 4,764 623 402
2018-06-29 4,948 552 463
2018-03-29 4,946 571 454
2017-12-31 4,711 589 445
2017-09-30 4,936 631 317
2017-06-30 4,963 672 188
2017-03-31 5,029 724 217
2016-12-31 5,095 775 246
2016-09-30 5,137 786 327
2016-07-01 5,180 797 408
2016-04-01 5,146 712 401

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Coca-Cola Amatil's earnings are expected to grow by 1.1% yearly, however this is not considered high growth (20% yearly).
  • Coca-Cola Amatil's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ASX:CCL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Coca-Cola Amatil Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CCL Future Estimates Data
Date (Data in AUD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.58 0.59 0.57 2.00
2021-12-31 0.56 0.58 0.54 5.00
2020-12-31 0.54 0.57 0.52 7.00
2019-12-31 0.50 0.53 0.47 7.00
ASX:CCL Past Financials Data
Date (Data in AUD Millions) EPS *
2018-12-31 0.55
2018-06-29 0.64
2018-03-29 0.62
2017-12-31 0.60
2017-09-30 0.42
2017-06-30 0.25
2017-03-31 0.28
2016-12-31 0.32
2016-09-30 0.43
2016-07-01 0.53
2016-04-01 0.52

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Coca-Cola Amatil is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Coca-Cola Amatil's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Oceania market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Oceania market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Coca-Cola Amatil has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CCL Past Performance

  How has Coca-Cola Amatil performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Coca-Cola Amatil's growth in the last year to its industry (Beverage).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Coca-Cola Amatil has delivered over 20% year on year earnings growth in the past 5 years.
  • Coca-Cola Amatil's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Coca-Cola Amatil's 1-year earnings growth is negative, it can't be compared to the Oceania Beverage industry average.
Earnings and Revenue History
Coca-Cola Amatil's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Coca-Cola Amatil Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ASX:CCL Past Revenue, Cash Flow and Net Income Data
Date (Data in AUD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 4,764.40 401.50 1,164.90
2018-06-29 4,947.80 463.20 1,150.10
2018-03-29 4,946.25 454.20 1,146.50
2017-12-31 4,711.30 444.50 1,104.60
2017-09-30 4,936.10 316.60 1,202.95
2017-06-30 4,962.60 188.00 1,263.00
2017-03-31 5,028.90 217.05 1,277.25
2016-12-31 5,095.20 246.10 1,291.50
2016-09-30 5,137.35 326.90 1,300.60
2016-07-01 5,179.50 407.70 1,309.70
2016-04-01 5,146.05 400.55 1,306.90
2015-12-31 5,112.60 393.40 1,304.10
2015-09-30 5,094.55 333.55 1,258.55
2015-07-03 5,076.50 273.70 1,213.00
2015-04-03 5,019.20 272.90 1,249.40
2014-12-31 4,961.90 272.10 1,285.80
2014-09-30 5,013.55 159.20 1,363.65
2014-06-30 5,065.20 46.30 1,441.50
2014-03-31 5,059.90 63.10 1,425.65
2013-12-31 5,054.60 79.90 1,409.80
2013-09-30 5,045.30 253.70 1,406.25
2013-06-30 5,036.00 427.50 1,402.70
2013-03-31 5,077.45 442.65 1,405.05
2012-12-31 5,118.90 457.80 1,407.40
2012-09-30 5,065.40 571.10 1,376.60

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Coca-Cola Amatil has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Coca-Cola Amatil used its assets more efficiently than the Oceania Beverage industry average last year based on Return on Assets.
  • Coca-Cola Amatil has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Coca-Cola Amatil's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Beverage industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Coca-Cola Amatil has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CCL Health

 How is Coca-Cola Amatil's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Coca-Cola Amatil's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Coca-Cola Amatil is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Coca-Cola Amatil's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Coca-Cola Amatil's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Coca-Cola Amatil Company Filings, last reported 6 months ago.

ASX:CCL Past Debt and Equity Data
Date (Data in AUD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,900.00 2,470.10 1,054.10
2018-06-29 1,899.00 2,479.90 965.80
2018-03-29 1,899.00 2,479.90 965.80
2017-12-31 1,880.30 2,414.80 1,038.00
2017-09-30 1,880.30 2,414.80 1,038.00
2017-06-30 1,917.00 2,394.10 1,014.00
2017-03-31 1,917.00 2,394.10 1,014.00
2016-12-31 2,274.20 2,452.80 1,378.10
2016-09-30 2,274.20 2,452.80 1,378.10
2016-07-01 2,469.30 2,104.00 864.00
2016-04-01 2,469.30 2,104.00 864.00
2015-12-31 2,409.80 2,572.20 1,237.50
2015-09-30 2,409.80 2,572.20 1,237.50
2015-07-03 2,297.90 2,550.20 1,138.20
2015-04-03 2,297.90 2,550.20 1,138.20
2014-12-31 1,686.70 2,663.50 818.20
2014-09-30 1,686.70 2,663.50 818.20
2014-06-30 1,676.40 2,878.50 1,012.40
2014-03-31 1,676.40 2,878.50 1,012.40
2013-12-31 1,739.80 3,260.10 1,428.40
2013-09-30 1,739.80 3,260.10 1,428.40
2013-06-30 2,093.00 3,028.10 907.20
2013-03-31 2,093.00 3,028.10 907.20
2012-12-31 2,063.50 3,045.50 1,183.10
2012-09-30 2,063.50 3,045.50 1,183.10
  • Coca-Cola Amatil's level of debt (130%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (187.2% vs 130% today).
  • Debt is well covered by operating cash flow (25.2%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 12x coverage).
X
Financial health checks
We assess Coca-Cola Amatil's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Coca-Cola Amatil has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CCL Dividends

 What is Coca-Cola Amatil's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.49%
Current annual income from Coca-Cola Amatil dividends. Estimated to be 4.46% next year.
If you bought A$2,000 of Coca-Cola Amatil shares you are expected to receive A$90 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Coca-Cola Amatil's pays a higher dividend yield than the bottom 25% of dividend payers in Australia (2.53%).
  • Coca-Cola Amatil's dividend is below the markets top 25% of dividend payers in Australia (5.74%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ASX:CCL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Oceania Beverage Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.1%
Australia Market Average Dividend Yield Market Cap Weighted Average of 416 Stocks 4%
Australia Minimum Threshold Dividend Yield 10th Percentile 1.5%
Australia Bottom 25% Dividend Yield 25th Percentile 2.5%
Australia Top 25% Dividend Yield 75th Percentile 5.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ASX:CCL Future Dividends Estimate Data
Date (Data in A$) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.50 2.00
2021-12-31 0.48 9.00
2020-12-31 0.46 11.00
2019-12-31 0.45 11.00
ASX:CCL Past Annualized Dividends Data
Date (Data in A$) Dividend per share (annual) Avg. Yield (%)
2019-02-20 0.470 5.186
2018-02-20 0.470 5.161
2017-08-22 0.460 5.659
2017-02-21 0.485 5.145
2016-09-21 0.445 4.541
2016-02-17 0.435 4.890
2015-03-27 0.420 4.571
2015-02-16 0.420 4.000
2014-10-06 0.520 5.672
2014-03-17 0.585 6.170
2014-02-17 0.585 5.174
2013-02-18 0.560 4.385
2012-02-21 0.525 3.987
2011-02-22 0.485 4.139
2010-02-17 0.435 3.775
2009-02-12 0.390 4.100
2008-08-20 0.370 4.254

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Coca-Cola Amatil's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Coca-Cola Amatil's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Coca-Cola Amatil afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Coca-Cola Amatil has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CCL Management

 What is the CEO of Coca-Cola Amatil's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Alison Watkins
COMPENSATION A$4,106,421
AGE 56
TENURE AS CEO 5.3 years
CEO Bio

Ms. Alison Mary Watkins joined Coca-Cola Amatil Limited in March 2014 as Group Managing Director. She has extensive experience in the food, beverage, retail and financial industries. From 2003 to 2010, she held senior executive roles within Westpac Banking Corporation, including Group Secretary and General Counsel; and Group Executive, People where she was responsible for human resources, corporate affairs and sustainability. Prior to working at Westpac Banking Corporation, Ms Atlas practised as a lawyer for 22 years and was the Managing Partner of Mallesons Stephen Jaques. Degrees/Qualifications: Bachelor of Commerce (University of Tasmania); Fellow, Australian Institute of Company Directors; Fellow, Chartered Accountants Australia and New Zealand; and Senior Fellow, Financial Services Institute of Australasia. Other Listed Company Boards: Director, Westfield Corporation Limited and Australia and New Zealand Banking Group Limited. Government & Community Involvement: Chairman, Jawun Pty Ltd; Director, Paul Ramsay Foundation; Panel Member, Adara Partners; and Fellow, Senate of The University of Sydney.

CEO Compensation
  • Alison's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Alison's remuneration is about average for companies of similar size in Australia.
Management Team Tenure

Average tenure and age of the Coca-Cola Amatil management team in years:

4
Average Tenure
52
Average Age
  • The tenure for the Coca-Cola Amatil management team is about average.
Management Team

Alison Watkins

TITLE
Group MD & Executive Director
COMPENSATION
A$4M
AGE
56
TENURE
5.3 yrs

Martyn Roberts

TITLE
Group Chief Financial Officer
COMPENSATION
A$1M
TENURE
4 yrs

Kadir Gunduz

TITLE
Managing Director of Indonesia & Papua New Guinea
COMPENSATION
A$2M
AGE
52
TENURE
5.8 yrs

Chris Litchfield

TITLE
Managing Director of New Zealand & Fiji
COMPENSATION
A$1M
AGE
47
TENURE
5 yrs

Peter West

TITLE
Managing Director of Australian Beverages
COMPENSATION
A$2M
TENURE
1.3 yrs

Debbie Nova

TITLE
Group Chief Information Officer
TENURE
1.5 yrs

David Akers

TITLE
Group Head of Investor Relations

Betty S. Ivanoff

TITLE
Group General Counsel & Company Secretary
TENURE
3.3 yrs

Liz McNamara

TITLE
Group Director of Public Affairs
TENURE
4.1 yrs

Kate Mason

TITLE
Group Director of People & Culture
TENURE
1.3 yrs
Board of Directors Tenure

Average tenure and age of the Coca-Cola Amatil board of directors in years:

2.3
Average Tenure
58
Average Age
  • The average tenure for the Coca-Cola Amatil board of directors is less than 3 years, this suggests a new board.
Board of Directors

Ilana Atlas

TITLE
Chairman of the Board
COMPENSATION
A$510K
AGE
64
TENURE
2.2 yrs

Alison Watkins

TITLE
Group MD & Executive Director
COMPENSATION
A$4M
AGE
56
TENURE
5.3 yrs

John Borghetti

TITLE
Independent Non-Executive Director
COMPENSATION
A$241K
AGE
63
TENURE
3.6 yrs

Mark Johnson

TITLE
Independent Non-Executive Director
COMPENSATION
A$253K
AGE
61
TENURE
2.6 yrs

Paul O’Sullivan

TITLE
Independent Non Executive Director
COMPENSATION
A$224K
AGE
58
TENURE
2.3 yrs

Julie Coates

TITLE
Independent Non Executive Director
COMPENSATION
A$166K
AGE
56
TENURE
1.3 yrs

Jorge Garduño

TITLE
Non-Executive Director
COMPENSATION
A$140K
AGE
48
TENURE
1.2 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (A$) Value (A$)
X
Management checks
We assess Coca-Cola Amatil's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Coca-Cola Amatil has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CCL News

Simply Wall St News

Does Coca-Cola Amatil Limited's (ASX:CCL) CEO Pay Compare Well With Peers?

Alison Watkins became the CEO of Coca-Cola Amatil Limited (ASX:CCL) in 2014. … Check out our latest analysis for Coca-Cola Amatil How Does Alison Watkins's Compensation Compare With Similar Sized Companies? … Our data indicates that Coca-Cola Amatil Limited is worth AU$7.5b, and total annual CEO compensation is AU$4.1m.

Simply Wall St -

If You Had Bought Coca-Cola Amatil (ASX:CCL) Shares Three Years Ago You'd Have Made 19%

Unfortunately for shareholders, while the Coca-Cola Amatil Limited (ASX:CCL) share price is up 19% in the last three years, that falls short of the market return. … During three years of share price growth, Coca-Cola Amatil achieved compound earnings per share growth of 2.5% per year. … We note that for Coca-Cola Amatil the TSR over the last 3 years was 39%, which is better than the share price return mentioned above.

Simply Wall St -

Is Coca-Cola Amatil Limited's (ASX:CCL) P/E Ratio Really That Good?

We'll look at Coca-Cola Amatil Limited's (ASX:CCL) P/E ratio and reflect on what it tells us about the company's share price. … The formula for price to earnings is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Coca-Cola Amatil: P/E of 17.78 = A$9.86 ÷ A$0.55 (Based on the year to December 2018.) Is A High Price-to-Earnings Ratio Good? … The Verdict On Coca-Cola Amatil's P/E Ratio Coca-Cola Amatil has a P/E of 17.8.

Simply Wall St -

Is Coca-Cola Amatil Limited’s (ASX:CCL) 15% ROCE Any Good?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Coca-Cola Amatil: 0.15 = AU$672m ÷ (AU$6.2b - AU$1.6b) (Based on the trailing twelve months to December 2018.) Therefore, Coca-Cola Amatil has an ROCE of 15%. … How Coca-Cola Amatil's Current Liabilities Impact Its ROCE Current liabilities include invoices, such as supplier payments, short-term debt, or a tax bill, that need to be paid within 12 months. … The ROCE equation subtracts current liabilities from capital employed, so a company with a lot of current liabilities appears to have less capital employed, and a higher ROCE than otherwise.

Simply Wall St -

What Are Analysts Saying About Coca-Cola Amatil Limited's (ASX:CCL) Growth?

Looking at Coca-Cola Amatil Limited's (ASX:CCL) earnings update in December 2018, it seems that analyst forecasts are fairly bearish, with earnings expected to decline by 9.4% in the upcoming year against the past 5-year average growth rate of 22%. … Check out our latest analysis for Coca-Cola Amatil How will Coca-Cola Amatil perform in the near future? … ASX:CCL Past and Future Earnings, May 10th 2019 This results in an annual growth rate of 1.3% based on the most recent earnings level of AU$402m to the final forecast of AU$405m by 2022.

Simply Wall St -

Is Coca-Cola Amatil Limited (ASX:CCL) A Financially Sound Company?

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Coca-Cola Amatil Limited (ASX:CCL), with a market capitalization of AU$6.4b, rarely draw their attention from the investing community. … Today we will look at CCL’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Check out our latest analysis for Coca-Cola Amatil

Simply Wall St -

What You Should Know About Coca-Cola Amatil Limited's (ASX:CCL) Financial Strength

Investors are always looking for growth in small-cap stocks like Coca-Cola Amatil Limited (ASX:CCL), with a market cap of AU$6.3b. … However, an important fact which most ignore is: how financially healthy is the business? … The following basic checks can help you get a picture of the company's balance sheet strength.

Simply Wall St -

Coca-Cola Amatil Limited (ASX:CCL): Are Analysts Bullish?

In December 2018, Coca-Cola Amatil Limited (ASX:CCL) announced its most recent earnings update, whicha

Simply Wall St -

How Many Coca-Cola Amatil Limited (ASX:CCL) Shares Do Institutions Own?

Every investor in Coca-Cola Amatil Limited (ASX:CCL) should be aware of the most powerful shareholder groups. … Coca-Cola Amatil is a pretty big company. … View our latest analysis for Coca-Cola Amatil

Simply Wall St -

Coca-Cola Amatil Limited (ASX:CCL) Insiders Increased Their Holdings

On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. … So we'll take a look at whether insiders have been buying or selling shares in Coca-Cola Amatil Limited (ASX:CCL). … The Last 12 Months Of Insider Transactions At Coca-Cola Amatil

Simply Wall St -

CCL Company Info

Description

Coca-Cola Amatil Limited, together with its subsidiaries, manufactures, distributes, and markets non-alcoholic and alcoholic ready-to-drink beverages in Australia, New Zealand, Fiji, Indonesia, Papua New Guinea, and Samoa. Its product range includes non-alcoholic sparkling beverages, spring water, sports and energy drinks, fruit juices, iced tea, flavored milk, coffee, tea, beer, cider, and spirits, as well as ready-to-eat fruit and vegetable snacks and products. The company offers its beverages under Sprite, Fanta, Lift, Kirks, Deep Spring, Mount Franklin, Pump, Powerade, Barista Bros, Zico Coconut Water, Fuze Tea, Goulburn Valley juices, Schweppes, Mother, Deep Spring, Baker Halls, Grinders Coffee, FUZE Tea, L&P, Kiwi Blue and Keri Juice in New Zealand and Minute Maid, Frubu, Fiji Water, and Jucy, as well as alcohol under the Coors, Blue Moon, Vonu Premium Lager, Fiji Bitter, Fiji Gold, Rekorderlig cider, Yenda, Pressman's, Bounty Rum, and Fiji Rum brand names. The company was formerly known as Amatil Limited and changed its name to Coca-Cola Amatil Limited in 1989. Coca-Cola Amatil Limited was founded in 1904 and is headquartered in North Sydney, Australia.

Details
Name: Coca-Cola Amatil Limited
CCL
Exchange: ASX
Founded: 1904
A$7,522,356,872
723,999,699
Website: http://www.ccamatil.com
Address: Coca-Cola Amatil Limited
40 Mount Street,
Level 14,
North Sydney,
New South Wales, 2060,
Australia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ASX CCL Ordinary Shares Australian Securities Exchange AU AUD 07. Aug 1995
OTCPK CCLA.F Ordinary Shares Pink Sheets LLC US USD 07. Aug 1995
DB CCL Ordinary Shares Deutsche Boerse AG DE EUR 07. Aug 1995
CHIA CCL Ordinary Shares Chi-X Australia AU AUD 07. Aug 1995
OTCPK CCLA.Y SPONSORED ADR Pink Sheets LLC US USD 23. Aug 1991
Number of employees
Current staff
Staff numbers
13,000
Coca-Cola Amatil employees.
Industry
Soft Drinks
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 10:31
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/02/20
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.