(COKE) Coca-Cola Consolidated - Overview
Sector: Consumer Defensive | Industry: Beverages - Non-Alcoholic | Exchange: NASDAQ (USA) | Market Cap: 10.879m USD | Total Return: 47.5% in 12m
Industry Rotation: +13.6
Avg Turnover: 82.9M
EPS Trend: -74.1%
Rev. Trend: 75.3%
Warnings
Altman Z'' 0.73 < 1.0 - financial distress zone
Tailwinds
No distinct edge detected
Coca-Cola Consolidated, Inc. is the largest independent Coca-Cola bottler in the United States, specializing in the manufacturing, marketing, and distribution of a diverse nonalcoholic beverage portfolio. Its product lineup includes carbonated soft drinks, bottled water, energy drinks, and ready-to-drink coffee and tea. Beyond the Coca-Cola brand, the company maintains distribution agreements for other major labels such as Dr Pepper and Monster Energy.
The company operates within the consumer staples sector, utilizing a capital-intensive business model that relies on exclusive territorial franchise rights to manage large-scale production and logistics. Unlike the primary brand owner, which focuses on global marketing and concentrate production, bottlers like Coca-Cola Consolidated manage the physical supply chain and direct-to-store delivery infrastructure. This model requires extensive coordination with a variety of retail channels, ranging from mass merchandisers and grocery stores to schools and vending outlets.
Investors can evaluate the company’s long-term margin trends and valuation metrics on ValueRay. Founded in 1902 and headquartered in Charlotte, North Carolina, the firm serves as a critical link in the domestic beverage supply chain by providing both packaged goods and post-mix fountain syrups to the commercial market.
- Raw material and fuel costs fluctuate impacting overall gross profit margins
- Volume growth in energy and sports drinks offsets stagnant sparkling beverage demand
- Regional consumer spending power in the Southeast US dictates total sales volume
- Exclusive bottling agreements with The Coca-Cola Company secure long-term market dominance
- Interest rate shifts influence debt servicing costs for capital intensive distribution logistics
| Net Income: 578.5m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 6.03 > 1.0 |
| NWC/Revenue: 3.81% < 20% (prev 19.21%; Δ -15.40% < -1%) |
| CFO/TA 0.21 > 3% & CFO 939.7m > Net Income 578.5m |
| Net Debt (2.52b) to EBITDA (1.10b): 2.29 < 3 |
| Current Ratio: 1.23 > 1.5 & < 3 |
| Outstanding Shares: last quarter (66.6m) vs 12m ago -23.65% < -2% |
| Gross Margin: 39.30% > 18% (prev 0.40%; Δ 3.89k% > 0.5%) |
| Asset Turnover: 153.0% > 50% (prev 127.5%; Δ 25.54% > 0%) |
| Interest Coverage Ratio: 10.53 > 6 (EBITDA TTM 1.10b / Interest Expense TTM 67.9m) |
| A: 0.06 (Total Current Assets 1.50b - Total Current Liabilities 1.22b) / Total Assets 4.39b |
| B: -0.17 (Retained Earnings -729.1m / Total Assets 4.39b) |
| C: 0.15 (EBIT TTM 714.5m / Avg Total Assets 4.90b) |
| D: -0.13 (Book Value of Equity -667.2m / Total Liabilities 5.04b) |
| Altman-Z'' Score: 0.73 = B |
| DSRI: 1.02 (Receivables 756.9m/685.1m, Revenue 7.49b/6.89b) |
| GMI: 1.01 (GM 39.30% / 39.77%) |
| AQI: 1.24 (AQ_t 0.26 / AQ_t-1 0.21) |
| SGI: 1.09 (Revenue 7.49b / 6.89b) |
| TATA: -0.08 (NI 578.5m - CFO 939.7m) / TA 4.39b) |
| Beneish M-Score: -2.88 (Cap -4..+1) = A |
Over the past week, the price has changed by -2.32%, over one month by -9.05%, over three months by +2.64% and over the past year by +47.52%.
| Analysts Target Price | 1440 | 745.7% |
P/E Forward = 17.4216
P/S = 1.4515
P/B = 8.2416
P/EG = 3.039
Revenue TTM = 7.49b USD
EBIT TTM = 714.5m USD
EBITDA TTM = 1.10b USD
Long Term Debt = 2.69b USD (from longTermDebt, last fiscal year)
Short Term Debt = 124.6m USD (from shortTermDebt, last quarter)
Debt = 2.75b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.52b USD (from netDebt column, last quarter)
Enterprise Value = 13.40b USD (10.88b + Debt 2.75b - CCE 232.9m)
Interest Coverage Ratio = 10.53 (Ebit TTM 714.5m / Interest Expense TTM 67.9m)
EV/FCF = 20.24x (Enterprise Value 13.40b / FCF TTM 662.1m)
FCF Yield = 4.94% (FCF TTM 662.1m / Enterprise Value 13.40b)
FCF Margin = 8.83% (FCF TTM 662.1m / Revenue TTM 7.49b)
Net Margin = 7.72% (Net Income TTM 578.5m / Revenue TTM 7.49b)
Gross Margin = 39.30% ((Revenue TTM 7.49b - Cost of Revenue TTM 4.55b) / Revenue TTM)
Gross Margin QoQ = 39.37% (prev 38.21%)
Tobins Q-Ratio = 3.05 (Enterprise Value 13.40b / Total Assets 4.39b)
Interest Expense / Debt = 1.16% (Interest Expense 32.1m / Debt 2.75b)
Taxrate = 26.23% (39.7m / 151.2m)
NOPAT = 527.1m (EBIT 714.5m * (1 - 26.23%))
Current Ratio = 1.23 (Total Current Assets 1.50b / Total Current Liabilities 1.22b)
Debt / Equity = -4.28 (negative equity) (Debt 2.75b / totalStockholderEquity, last quarter -643.5m)
Debt / EBITDA = 2.29 (Net Debt 2.52b / EBITDA 1.10b)
Debt / FCF = 3.81 (Net Debt 2.52b / FCF TTM 662.1m)
Total Stockholder Equity = 470.7m (last 4 quarters mean from totalStockholderEquity)
RoA = 11.81% (Net Income 578.5m / Total Assets 4.39b)
RoE = 122.9% (Net Income TTM 578.5m / Total Stockholder Equity 470.7m)
RoCE = 22.63% (EBIT 714.5m / Capital Employed (Equity 470.7m + L.T.Debt 2.69b))
RoIC = 17.79% (NOPAT 527.1m / Invested Capital 2.96b)
WACC = 4.05% (E(10.88b)/V(13.63b) * Re(4.86%) + D(2.75b)/V(13.63b) * Rd(1.16%) * (1-Tc(0.26)))
Discount Rate = 4.86% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.92%
Shares (quarterly) Correlation: -91.11 | Cagr: -14.12%
[DCF] Terminal Value 88.44% ; FCFF base≈592.6m ; Y1≈731.1m ; Y5≈1.25b
[DCF] Fair Price = 595.7 (EV 36.19b - Net Debt 2.52b = Equity 33.67b / Shares 56.5m; r=6.0% [WACC]; 5y FCF grow 25.0% → 3.0% )
EPS Correlation: -74.10 | EPS CAGR: -43.00% | SUE: N/A | # QB: 0
Revenue Correlation: 75.34 | Revenue CAGR: 3.98% | SUE: N/A | # QB: 0