Company Valuation: Coca-Cola Hellenic

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 11,131 8,157 9,746 11,964 16,009 18,353 - -
Change - -26.72% 19.48% 22.76% 33.81% 14.64% - -
Enterprise Value (EV) 1 13,285 9,793 11,341 13,489 17,242 19,161 19,890 19,136
Change - -26.29% 15.81% 18.94% 27.82% 11.13% 3.8% -3.79%
P/E ratio 20.4x 19.7x 15.4x 14.7x 17x 17.4x 16x 14.8x
PBR 3.57x 2.49x 3.15x 3.75x 4.16x 4.15x 3.46x 2.99x
PEG - -0.8x 0.3x 0.5x 1.1x 1.4x 1.74x 1.79x
Capitalization / Revenue 1.55x 0.89x 0.96x 1.11x 1.38x 1.48x 1.35x 1.28x
EV / Revenue 1.85x 1.06x 1.11x 1.25x 1.49x 1.55x 1.46x 1.34x
EV / EBITDA 11.2x 7.29x 7.62x 8.41x 9.54x 9.71x 9.1x 8.05x
EV / EBIT 16x 10.5x 10.5x 11.3x 12.7x 13x 12.2x 10.8x
EV / FCF 20.9x 13.8x 14.6x 17.4x 22.7x 26.2x 25.4x 21.7x
FCF Yield 4.79% 7.26% 6.84% 5.76% 4.41% 3.82% 3.93% 4.6%
Dividend per Share 2 0.71 0.78 0.93 1.03 1.2 1.301 1.422 1.54
Rate of return 2.33% 3.51% 3.5% 3.12% 2.72% 2.56% 2.8% 3.04%
EPS 2 1.49 1.13 1.73 2.253 2.589 2.908 3.176 3.439
Distribution rate 47.7% 69% 53.8% 45.7% 46.3% 44.7% 44.8% 44.8%
Net sales 1 7,168 9,198 10,184 10,754 11,604 12,365 13,606 14,310
EBITDA 1 1,183 1,344 1,488 1,604 1,808 1,972 2,187 2,376
EBIT 1 831 929.7 1,084 1,192 1,356 1,476 1,632 1,774
Net income 1 547.2 415.4 636.5 820.6 940.4 1,053 1,146 1,260
Net Debt 1 2,155 1,636 1,595 1,524 1,233 807.7 1,537 783.3
Reference price 2 30.42 22.24 26.56 33.04 44.04 50.75 50.75 50.75
Nbr of stocks (in thousands) 365,892 366,699 366,909 362,162 363,508 364,465 - -
Announcement Date 2/22/22 2/14/23 2/14/24 2/13/25 2/10/26 - - -
1EUR in Million2EUR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.45x1.56x9.79x2.56% 21.83B
23.54x7.23x20.38x2.8% 326B
12.68x2.49x10.19x3.58% 36.05B
16.11x1.47x7.21x4.39% 20.04B
47.94x6.42x28.02x0.37% 17.32B
10.08x1.72x9.8x4.69% 13.19B
23.77x2.59x11.36x-.--% 9.06B
15.28x0.68x5x2.64% 9.01B
18.1x1.81x8.11x2.22% 7.59B
Average 20.55x 2.89x 12.21x 2.58% 51.12B
Weighted average by Cap. 22.36x 5.84x 17.81x 2.81%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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