Coca-Cola Consolidated, Inc. (COKE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-29.4%

$142.67

vs $202.18 price

Levered DCF

$166.25

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

4.05

Safe zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	19.78×	17.97×	21.29×	11.16×	30.65×	14.47×	142.05×	-83.29×
P/B	-15.26×	8.03×	6.06×	4.31×	8.15×	4.87×	7.67×	4.63×
P/S	1.56×	1.65×	1.31×	0.77×	1.04×	0.5×	0.55×	0.36×
EV / EBITDA	15.49×	13.48×	14.09×	8.06×	16.27×	8.85×	16.59×	14.04×
Gross margin	39.7%	39.9%	39.1%	36.7%	35.1%	35.3%	34.6%	33.6%
Operating margin	13.2%	13.3%	12.5%	10.3%	7.9%	6.3%	3.7%	1.3%
Net margin	7.9%	9.2%	6.1%	6.9%	3.4%	3.4%	0.4%	-0.4%
Current ratio	1.26×	1.94×	1.56×	1.38×	1.29×	1.32×	1.33×	1.33×
Debt / equity	-4.06×	1.35×	0.51×	0.68×	1.32×	2.26×	3.43×	3.38×
Interest coverage	22.28×	498.02×	0×	25.86×	13.13×	8.53×	3.93×	1.15×
Dividend yield	0.8%	1.6%	0.5%	0.2%	0.2%	0.4%	0.4%	0.6%
Payout ratio	15.2%	29.3%	11.5%	2.2%	4.9%	5.4%	50.5%	-46.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-77.1%	44.7%	28.4%	38.6%	26.6%	33.6%	5.3%	-5.6%
Return on invested capital	19.4%	15.5%	18.9%	16.9%	12.4%	9.1%	3.8%	2.3%
Return on assets	12.3%	11.9%	9.5%	11.6%	5.5%	5.4%	0.6%	-0.7%
Free cash flow yield	5.5%	4.4%	6.1%	4.7%	6.3%	11.7%	4.5%	1.8%
Earnings yield	5.1%	5.6%	4.7%	9.0%	3.3%	6.9%	0.7%	-1.2%
Enterprise value	$16B	$14.2B	$10.3B	$6.2B	$7.6B	$4B	$4.3B	$3.2B
Net debt / EBITDA	2.63×	0.73×	0.14×	0.72×	1.7×	2.42×	4.54×	5.34×
Cash conversion cycle (days)	18	36	31	35	34	37	44	47