Coca-Cola HBC stock: fair value
EEE.ATThe fair value of Coca-Cola HBC under our model is $66.23, the price is 16% below.
The fair value is an estimate from our model, not a price target.
Daily figure as of 13 Nov 2026
Valuation signal
Modestly undervaluedIn our model the price counts as cheap below $50.94 and expensive above $94.61 (uncertainty medium, based on the price swings of the past year).
The two parts of the fair value come to $55.53 (cash-flow model) and $76.92 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is below both.
Calculated with a cost of equity of 7.1%. At 8.1% the fair value would be $61.56, at 6.1% it would be $73.22.
Where the number comes from
Half from the cash-flow model, half from earnings times the industry P/E (25.3).
Ten-year cash-flow model from smoothed free cash flow and its past growth until it reaches 2.1%. Discounted at 7.1% (floor: government bond yield 2.1% plus 5 percentage points, since beta 0.8 times the risk premium would give less); no analyst estimates were available.
Calculate with your own assumptionsThe calculation step by step
With these figures the cash flow model arrives at $55.53 per share: free cash flow for the next ten years, each year discounted to today at 7.1%, plus the terminal value for the years after. The table explains the calculation; it is not a recommendation.
Calculation as a table
| Year | Free cash flow | Source | Discount factor | Present value (discounted at 7.1%) |
|---|---|---|---|---|
| 2026 | $952.71M | extrapolated at 5.3% | 0.9334 | $889.22M |
| 2027 | $993.82M | extrapolated at 4.3% | 0.8712 | $865.77M |
| 2028 | $1.03B | extrapolated at 3.7% | 0.8131 | $837.67M |
| 2029 | $1.06B | extrapolated at 3.2% | 0.7589 | $806.91M |
| 2030 | $1.09B | extrapolated at 2.9% | 0.7083 | $774.87M |
| 2031 | $1.12B | extrapolated at 2.7% | 0.6611 | $742.49M |
| 2032 | $1.15B | extrapolated at 2.5% | 0.6171 | $710.37M |
| 2033 | $1.18B | extrapolated at 2.4% | 0.5760 | $678.92M |
| 2034 | $1.21B | extrapolated at 2.3% | 0.5376 | $648.37M |
| 2035 | $1.23B | extrapolated at 2.3% | 0.5017 | $618.87M |
| Step | Value |
|---|---|
| Sum of present values (ten years) | $7.57B |
| Terminal value: cash flow 2035 × (1 + 2.1%) / (7.1% − 2.1%) | $25.2B |
| Present value of terminal value (× 0.5017) | $12.64B |
| Equity value (sum plus present value of terminal value) | $20.22B |
| Shares (diluted) | 364.03M |
| Value per share (equity value divided by shares) | $55.53 |
| Earnings per share, last twelve months | $3.04 |
| × 25.3 (industry P/E) | $76.92 |
| Fair value (average of both parts) | $66.23 |
The model uses free cash flow after interest, which belongs to shareholders, discounted at the cost of equity. Net debt is therefore not deducted again.
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = €0.9024)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Strong, published since 7 Nov 2026 (in the score history since 10 Oct 2025)
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.