Latest Ratios: P/E Ratio 27.5x · EV/EBITDA 14.9x · ROE 168.3%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $14.7B | $12.8B | $11.4B | $8.7B | $4.8B | $5.8B | $2.5B | $2.7B | $1.7B | $2.5B | $1.7B |
| Enterprise Value | $17.4B | $15.6B | $12.2B | $8.8B | $5.4B | $6.6B | $3.6B | $3.9B | $2.9B | $3.6B | $2.6B |
| P/E Ratio → | 27.53 | 22.51 | 18.03 | 21.34 | 11.21 | 30.65 | 14.55 | 142.05 | — | 20.90 | 33.38 |
| P/S Ratio | 2.04 | 1.78 | 1.65 | 1.31 | 0.78 | 1.05 | 0.50 | 0.55 | 0.36 | 0.58 | 0.53 |
| P/B Ratio | — | — | 8.05 | 6.07 | 4.32 | 8.18 | 4.89 | 5.93 | 3.64 | 5.44 | 4.61 |
| P/FCF | 23.57 | 20.57 | 22.57 | 16.50 | 21.39 | 15.90 | 8.58 | 22.48 | 54.13 | 19.03 | — |
| P/OCF | 15.72 | 13.71 | 13.02 | 10.76 | 8.69 | 11.16 | 5.08 | 9.21 | 9.82 | 8.11 | 10.32 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.15 | 1.76 | 1.33 | 0.87 | 1.19 | 0.72 | 0.80 | 0.62 | 0.84 | 0.83 |
| EV / EBITDA | 14.92 | 13.32 | 10.93 | 8.72 | 6.62 | 10.68 | 7.34 | 10.69 | 11.66 | 13.49 | 10.60 |
| EV / EBIT | 18.35 | 19.09 | 14.19 | 15.82 | 8.96 | 22.93 | 13.01 | 48.06 | 76.78 | 34.79 | 20.35 |
| EV / FCF | — | 24.92 | 24.10 | 16.69 | 23.87 | 18.08 | 12.36 | 32.40 | 93.25 | 27.81 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.7% | 39.7% | 39.9% | 39.1% | 36.7% | 35.1% | 35.3% | 34.6% | 33.6% | 34.8% | 37.7% |
| Operating Margin | 13.2% | 13.2% | 13.3% | 12.5% | 10.3% | 7.9% | 6.3% | 3.7% | 1.3% | 2.3% | 4.2% |
| Net Profit Margin | 7.9% | 7.9% | 9.2% | 6.1% | 6.9% | 3.4% | 3.4% | 0.4% | -0.4% | 2.2% | 1.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 168.3% | 168.3% | 44.4% | 32.0% | 47.1% | 31.0% | 35.8% | 4.1% | -4.4% | 23.5% | 14.6% |
| ROA | 11.5% | 11.5% | 13.2% | 10.2% | 12.0% | 5.7% | 5.4% | 0.6% | -0.7% | 3.5% | 2.3% |
| ROIC | 34.2% | 34.2% | 37.1% | 39.0% | 30.2% | 21.1% | 14.5% | 8.3% | 2.7% | 5.2% | 8.7% |
| ROCE | 25.4% | 25.4% | 25.6% | 27.8% | 23.7% | 16.9% | 12.3% | 7.4% | 2.4% | 4.6% | 7.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 1.35 | 0.51 | 0.68 | 1.32 | 2.26 | 2.64 | 2.66 | 2.55 | 2.69 |
| Debt / EBITDA | 2.57 | 2.57 | 1.71 | 0.73 | 0.93 | 1.51 | 2.35 | 3.30 | 4.95 | 4.32 | 3.94 |
| Net Debt / Equity | — | — | 0.54 | 0.07 | 0.50 | 1.12 | 2.15 | 2.62 | 2.63 | 2.51 | 2.63 |
| Net Debt / EBITDA | 2.33 | 2.33 | 0.69 | 0.10 | 0.69 | 1.28 | 2.24 | 3.27 | 4.89 | 4.26 | 3.85 |
| Debt / FCF | — | 4.35 | 1.53 | 0.19 | 2.47 | 2.18 | 3.78 | 9.92 | 39.12 | 8.78 | — |
| Interest Coverage | 19.11 | 19.11 | 464.56 | — | 24.20 | 8.63 | 7.56 | 1.74 | 0.74 | 2.50 | 3.55 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.26 | 1.26 | 1.94 | 1.56 | 1.38 | 1.29 | 1.32 | 1.33 | 1.33 | 1.24 | 1.30 |
| Quick Ratio | 0.97 | 0.97 | 1.69 | 1.27 | 0.99 | 0.93 | 0.97 | 0.97 | 0.98 | 0.96 | 0.98 |
| Cash Ratio | 0.25 | 0.25 | 1.09 | 0.58 | 0.22 | 0.17 | 0.08 | 0.02 | 0.02 | 0.03 | 0.05 |
| Asset Turnover | — | 1.56 | 1.30 | 1.55 | 1.67 | 1.61 | 1.55 | 1.54 | 1.54 | 1.41 | 1.29 |
| Inventory Turnover | 12.95 | 12.95 | 12.55 | 12.60 | 11.29 | 11.92 | 14.34 | 13.97 | 14.62 | 15.15 | 13.52 |
| Days Sales Outstanding | — | 35.33 | 36.16 | 36.17 | 35.69 | 35.86 | 35.73 | 40.05 | 40.23 | 44.68 | 34.34 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 0.6% | 0.7% | 1.6% | 0.5% | 0.2% | 0.2% | 0.4% | 0.4% | 0.6% | 0.4% | 0.6% |
| Payout Ratio | 15.2% | 15.2% | 29.3% | 11.5% | 2.2% | 4.9% | 5.4% | 50.5% | — | 9.7% | 18.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 3.6% | 4.4% | 5.5% | 4.7% | 8.9% | 3.3% | 6.9% | 0.7% | — | 4.8% | 3.0% |
| FCF Yield | 4.2% | 4.9% | 4.4% | 6.1% | 4.7% | 6.3% | 11.6% | 4.4% | 1.8% | 5.3% | — |
| Buyback Yield | 17.7% | 20.3% | 5.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 42.2% |
| Total Shareholder Yield | 18.2% | 21.0% | 7.1% | 0.5% | 0.2% | 0.2% | 0.4% | 0.4% | 0.6% | 0.4% | 42.8% |
| Shares Outstanding | — | $84M | $91M | $94M | $94M | $94M | $94M | $94M | $94M | $116M | $93M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying COKE stock.
Coca-Cola Consolidated, Inc.'s current P/E ratio is 27.5x. The historical average is 33.3x. This places it at the 62th percentile of its historical range.
Coca-Cola Consolidated, Inc.'s current EV/EBITDA is 14.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.0x.
Coca-Cola Consolidated, Inc.'s return on equity (ROE) is 168.3%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 33.8%.
Based on historical data, Coca-Cola Consolidated, Inc. is trading at a P/E of 27.5x. This is at the 62th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Coca-Cola Consolidated, Inc.'s current dividend yield is 0.55% with a payout ratio of 15.2%.
Coca-Cola Consolidated, Inc. has 39.7% gross margin and 13.2% operating margin. Operating margin between 10-20% is typical for established companies.
Coca-Cola Consolidated, Inc.'s Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Negative equity and high leverage
Metrics are mathematically derived from official filings.
Premium Valuation vs. Logistics Peer Group
COKE trades at a P/E of 29.15 and EV/EBITDA of 15.66, a significant premium to its direct bottling peer CCEP and a discount to parent company KO, suggesting the market is pricing in its unique distribution moat and recent growth acceleration.
The valuation premium over typical logistics or distribution peers appears to reflect the market's recognition of COKE's localized monopoly and its ability to capture value from high-growth categories like energy drinks. However, the PEG ratio of 0.97 indicates the stock is priced for growth that may be difficult to sustain once promotional catalysts like the FIFA World Cup fade. Investors should monitor whether the premium is justified by the company's superior return on invested capital relative to its peer group.
Stable Margins Mask Underlying Cost Pressures
Gross margin has remained remarkably stable in the 38-40% range over ten quarters, but operating margin expansion to 13.2% in Q2 2026 appears driven by SG&A leverage rather than structural cost improvements, warranting scrutiny of sustainability.
The stability of the gross margin suggests the incidence pricing model effectively passes through commodity costs, but it also obscures the true volatility of input prices like aluminum and diesel. The recent improvement in operating margin to 13.2% is encouraging, but it is largely a function of revenue growth outpacing fixed overhead, a dynamic that could reverse if volume growth decelerates. The net margin of 7.7% in Q2 2026 is healthy but remains below the levels seen in early 2024, indicating that higher interest expenses may be eroding bottom-line profitability.
ROIC Resilience Amidst Equity Erosion
Return on invested capital has remained robust, averaging 9.3% over the last ten quarters, but the recent surge in ROE to 168.3% is a mathematical artifact of negative equity and does not reflect true economic returns.
The ROIC trend is the most meaningful indicator of COKE's capital efficiency, and its stability around 9-10% suggests the company is generating consistent returns on its distribution network investments. The extreme ROE figure is misleading and should be disregarded; it is driven by the company's negative equity position, which itself is a result of aggressive share repurchases and dividend payments. The key question for investors is whether the current ROIC is sustainable as the company potentially shifts capital allocation toward further territorial expansion.
Leverage Surge Creates Structural Risk
The company's debt-to-equity ratio is mathematically undefined due to negative equity, and total debt of $2.6B now exceeds total assets, creating a highly leveraged position that significantly increases financial risk.
The balance sheet has deteriorated dramatically, with the D/E ratio swinging from 0.45 in Q1 2024 to an undefined negative figure by Q2 2026. This leverage is reflected in the D/EBITDA ratio of 7.96, which is elevated for a consumer staples company and suggests limited financial flexibility. While interest coverage remains adequate at 9.75x, the trend is downward from over 40x in 2025, indicating that debt service is becoming a more significant burden on cash flows. This leverage profile makes the company particularly vulnerable to a downturn in volume or a spike in interest rates.
Adequate Liquidity Masks Structural Fragility
The current ratio of 1.21 and quick ratio of 0.92 indicate the company can meet short-term obligations, but the position is fragile and heavily dependent on continuous cash flow generation to service its massive debt load.
Liquidity appears sufficient on the surface, but the quick ratio below 1.0 suggests the company relies on selling inventory to meet immediate liabilities. The cash conversion cycle of 31 days is efficient and has improved from 45 days in Q4 2025, indicating strong working capital management. However, this efficiency is critical; any disruption to the collection cycle or a slowdown in inventory turnover could quickly strain the company's ability to service its debt, given the minimal cash buffer relative to its total liabilities.
The Misapplied ROE Metric
Return on Equity is the most commonly misapplied ratio for COKE, as the company's negative equity position renders the metric meaningless and obscures the true economic returns generated by its asset base.
The reported ROE of 168.3% is a mathematical anomaly caused by negative shareholders' equity, not a reflection of exceptional profitability. This occurs because the company has returned more capital to shareholders than it has retained in earnings over time. Analysts and investors should instead focus on Return on Invested Capital (ROIC), which measures the efficiency of the company's core operations independent of its capital structure. Using ROE for valuation or performance comparison in this case would lead to fundamentally flawed conclusions about the company's financial health and operational performance.