Latest Ratios: P/E Ratio 26.1x · EV/EBITDA 15.0x · 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 | $14.9B | $12.8B | $11.4B | $8.7B | $4.8B | $5.8B | $2.5B | $2.7B | $1.7B | $2.5B | $1.7B |
| Enterprise Value | $17.6B | $15.6B | $12.2B | $8.8B | $5.4B | $6.6B | $3.6B | $3.9B | $2.9B | $3.6B | $2.6B |
| P/E Ratio → | 26.09 | 22.51 | 18.03 | 21.34 | 11.21 | 30.65 | 14.55 | 142.05 | — | 20.90 | 33.38 |
| P/S Ratio | 2.06 | 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 | 23.80 | 20.57 | 22.57 | 16.50 | 21.39 | 15.90 | 8.58 | 22.48 | 54.13 | 19.03 | — |
| P/OCF | 15.87 | 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 | 15.04 | 13.32 | 10.93 | 8.72 | 6.62 | 10.68 | 7.34 | 10.69 | 11.66 | 13.49 | 10.60 |
| EV / EBIT | 18.50 | 16.35 | 14.19 | 10.57 | 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 | 22.32 | 22.32 | 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 | 3.8% | 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 | 17.5% | 20.3% | 5.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 42.2% |
| Total Shareholder Yield | 18.1% | 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 |
Negative equity and leverage
Based on recent market data, COKE trades at a P/E of 27.61, which appears elevated relative to its historical norms and suggests that investors are pricing in significant future efficiency gains rather than the current reality of a capital-intensive, low-margin distribution business model.
The current P/E multiple implies a growth expectation that may be difficult to sustain given the company's reliance on territorial consolidation and the inherent limitations of the bottling business. Investors should monitor whether this valuation reflects a genuine shift in market perception toward a logistics-platform model or merely a temporary liquidity premium due to the limited public float.
As reported in financial statements, COKE's ROIC has fluctuated between 6.4% and 11.7% over the last ten quarters, indicating that the company struggles to consistently generate returns that meaningfully exceed its cost of capital, likely due to the heavy asset requirements of its proprietary distribution network.
The volatility in ROIC suggests that the company's ability to compound capital is highly sensitive to the timing of large-scale infrastructure investments and territorial integrations. This trend warrants further investigation into whether the recent decline in ROIC is a structural byproduct of the system transformation or a temporary outcome of aggressive debt-funded capital allocation.
According to recent quarterly filings, COKE's asset turnover has remained consistently low, averaging approximately 0.35x, which highlights the significant capital investment required to maintain the last-mile distribution infrastructure necessary to support its exclusive bottling agreements across the Southeast and Midwest regions.
While the cash conversion cycle remains relatively stable, the low asset turnover ratio suggests that the company is structurally limited in its ability to generate high revenue per dollar of invested capital. This implies that future margin expansion must come from operational route density improvements rather than asset-light growth strategies.
Based on the company's reported figures, the surge in debt-to-EBITDA levels to 11.59 in 2026Q1, coupled with the emergence of a negative equity position, suggests that the company's balance sheet has become increasingly vulnerable to interest rate volatility and potential refinancing pressures.
The shift toward debt-funded shareholder returns has significantly altered the company's risk profile, moving it from a conservative capital structure to one that is highly leveraged. Investors should monitor the interest coverage ratio closely, as any sustained decline in operating cash flow could rapidly impair the company's ability to service its debt obligations.
The most commonly misapplied metric for COKE is the Price-to-Book ratio, which is rendered effectively meaningless by the company's negative equity position, a result of aggressive share repurchases that obscure the underlying value of its proprietary distribution infrastructure and long-term bottling rights.
Relying on book value to assess solvency or valuation in this context is misleading, as it ignores the significant intangible value of the company's exclusive territorial agreements and physical cold-drink equipment placements. Analysts should instead focus on EV/EBITDA or free cash flow yield to better capture the true economic earning power of the business.
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 26.1x. The historical average is 33.3x. This places it at the 52th percentile of its historical range.
Coca-Cola Consolidated, Inc.'s current EV/EBITDA is 15.0x. 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 26.1x. This is at the 52th 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 0.58% 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.