CCEP is a high-quality cash compounder with exclusive Coca-Cola franchises, Southeast Asian growth optionality and a probability-weighted 5-year value of $111.89 versus $102.88 today.
Overview
Coca-Cola Europacific Partners is the leading independent bottling partner in the Coca-Cola system, manufacturing, packaging and distributing Coca-Cola, Fanta, Sprite, Powerade, Fuze Tea and Monster across 31 markets serving more than 600 million consumers. Its exclusive territories, brand equity, category-management capabilities and capital-intensive production, warehouse and cooler network create a durable moat. Europe supplies stable cash flow and premium pricing, while Australia, the Pacific and Southeast Asia provide the principal growth option. H1 2026 revenue rose **6.1% on a comparable FX-neutral basis to €10.724 billion**, with reported volume up 5.6% to 2,041 million unit cases and comparable EPS up 10.6% to €2.20. Management reaffirmed 2026 guidance for 3%–4% FX-neutral revenue growth and approximately 7% operating-profit growth, despite six fewer trading days in H2, higher costs and FX headwinds. The stock was $102.88 in September 2026, versus a consensus target of $108.44. The report’s probability-weighted five-year value is $111.89, supported by a 20% high case at $156.62, a 60% base case at $113.85 and a 20% low case at $61.29. Near-term catalysts include the 2027 Philippines plant, APS execution and the €1 billion buyback.