Coca-Cola HBC Valuation

Is CCH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of CCH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CCH (£25.18) is trading below our estimate of fair value (£37.9)

Significantly Below Fair Value: CCH is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for CCH?

Other financial metrics that can be useful for relative valuation.

CCH key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.2x
Enterprise Value/EBITDA9.7x
PEG Ratio1.6x

Price to Earnings Ratio vs Peers

How does CCH's PE Ratio compare to its peers?

The above table shows the PE ratio for CCH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.7x
BVIC Britvic
16.4x10.5%UK£2.0b
FEVR Fevertree Drinks
90.7x30.1%UK£1.4b
BAG A.G. BARR
16.7x9.4%UK£642.9m
NICL Nichols
19.2x9.9%UK£352.4m
CCH Coca-Cola HBC
16.9x10.3%UK£9.2b

Price-To-Earnings vs Peers: CCH is good value based on its Price-To-Earnings Ratio (16.9x) compared to the peer average (35.7x).


Price to Earnings Ratio vs Industry

How does CCH's PE Ratio compare vs other companies in the European Beverage Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a6.5%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a6.5%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: CCH is good value based on its Price-To-Earnings Ratio (16.9x) compared to the European Beverage industry average (18.9x).


Price to Earnings Ratio vs Fair Ratio

What is CCH's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CCH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.9x
Fair PE Ratio23.4x

Price-To-Earnings vs Fair Ratio: CCH is good value based on its Price-To-Earnings Ratio (16.9x) compared to the estimated Fair Price-To-Earnings Ratio (23.4x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst CCH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUK£25.18
UK£27.43
+8.9%
8.0%UK£29.99UK£23.56n/a14
Mar ’25UK£24.64
UK£27.16
+10.2%
8.1%UK£30.15UK£23.52n/a15
Feb ’25UK£23.30
UK£25.79
+10.7%
9.5%UK£29.77UK£22.40n/a15
Jan ’25UK£23.05
UK£25.78
+11.9%
9.9%UK£30.02UK£22.41n/a15
Dec ’24UK£22.18
UK£25.62
+15.5%
11.1%UK£30.82UK£22.37n/a14
Nov ’24UK£21.22
UK£26.10
+23.0%
10.5%UK£31.11UK£22.51n/a14
Oct ’24UK£22.49
UK£27.17
+20.8%
10.0%UK£31.69UK£23.06n/a15
Sep ’24UK£22.53
UK£27.19
+20.7%
9.2%UK£31.25UK£22.89n/a17
Aug ’24UK£22.86
UK£27.52
+20.4%
10.8%UK£31.86UK£20.42n/a16
Jul ’24UK£23.45
UK£26.54
+13.2%
9.9%UK£29.83UK£20.43n/a17
Jun ’24UK£23.69
UK£26.31
+11.1%
10.1%UK£29.69UK£20.33n/a17
May ’24UK£24.24
UK£24.85
+2.5%
11.3%UK£29.96UK£20.74n/a15
Apr ’24UK£22.13
UK£24.26
+9.6%
9.6%UK£27.91UK£20.82n/a14
Mar ’24UK£21.40
UK£24.23
+13.2%
9.7%UK£27.89UK£20.81UK£24.6414
Feb ’24UK£19.77
UK£23.32
+17.9%
8.3%UK£27.11UK£20.87UK£23.3014
Jan ’24UK£19.73
UK£24.39
+23.6%
10.3%UK£29.53UK£20.81UK£23.0513
Dec ’23UK£20.15
UK£23.99
+19.1%
10.2%UK£29.10UK£20.50UK£22.1813
Nov ’23UK£18.91
UK£23.85
+26.2%
9.9%UK£27.50UK£18.99UK£21.2213
Oct ’23UK£18.94
UK£24.13
+27.4%
11.0%UK£27.37UK£18.95UK£22.4914
Sep ’23UK£19.53
UK£24.40
+25.0%
14.5%UK£34.24UK£19.32UK£22.5315
Aug ’23UK£19.96
UK£21.88
+9.7%
17.3%UK£33.54UK£18.05UK£22.8615
Jul ’23UK£18.65
UK£21.66
+16.2%
18.8%UK£34.14UK£16.57UK£23.4515
Jun ’23UK£17.03
UK£21.42
+25.8%
19.3%UK£33.85UK£16.43UK£23.6915
May ’23UK£16.38
UK£21.61
+32.0%
22.1%UK£33.51UK£16.27UK£24.2415
Apr ’23UK£15.70
UK£21.61
+37.7%
23.9%UK£33.18UK£16.00UK£22.1315
Mar ’23UK£17.73
UK£28.72
+62.0%
10.5%UK£32.51UK£22.57UK£21.4014

Analyst Forecast: Target price is less than 20% higher than the current share price.


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