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Friday 6 November 2026 Export COKE’s income statement to Excel — free account

Coca-Cola Consolidated, Inc.

COKE Consumer Defensive Beverages Non Alcoholic

Coca-Cola Consolidated, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $7.2 billion, up 4.76% from fiscal 2024.

Revenue
+5.36%
EPS
+11.2%
Free cash flow
−34.7%
Total debt
+40.5%

Quarter to September 2026, against a year earlier

212.75 0.25 +0.12%
Market cap
$14.1B
P/E
28.1×
Fwd P/E
0.0×
Dividend yield
0.47%
F-score
5/9
Altman Z
3.75
Beneish M
−2.99
Dividend safety
69/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
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Coca-Cola Consolidated, Inc. (COKE) valuation and DCF model

What the price implies · reverse DCF

At $212.75 the price implies free cash flow after share-based pay growing 13.3% a year for ten years.

Free cash flow after share-based pay grew 14.5% a year over the last five years. The price asks for close to its five-year rate. The industry’s median company is priced for 11.4%.

In December 2017 the price assumed 19.2% a year; Coca-Cola Consolidated, Inc. went on to grow free cash flow after share-based pay 22.4% a year to FY2025.

Price implies
13.3%
Last 5 years, reported
14.5%
Industry median implies
11.4%

The headline discounts the last twelve months’ free cash flow after share-based pay at 9.0% for ten years and grows it 2.5% a year after that, the same for every company, so the figure compares across the market (how a reverse DCF works).

The other way round · DCF
The price needs
13.3% a year for ten years
$212.75
today’s price
Its base case
14.5% a year for five years, then 8.7%
$187.93
11.7% below today’s price

Both are growth in free cash flow after share-based pay, discounted at 9.0%, with 2.5% a year after year ten.

Base case on its own ten-year record Coca-Cola Consolidated, Inc.’s own growth, carried forward

Its assumptions

Powerpack lets you start from a scenario and type over any of them.

The base case’s inputs, which Powerpack lets you change
1 · Cash flow to equity
the four quarters to September 2026, from the 10-Q and 10-K filings, before share-based pay

Yearly growth in cash flow. It usually slows as the company matures.

Today’s price implies free cash flow after share-based pay growing 13.3% a year for ten years.

2 · Rates

Cost of equity is the yearly return shareholders require, typically 8–11%. Terminal growth is growth forever after year 10, usually near long-run inflation, 2–3%.

3 · Per share

Diluted shares outstanding. Net debt, under Advanced inputs, is taken off before dividing.

Advanced inputs
Free cash flow Revenue and margin
negative is net cash
new shares the cash flow does not pay for

Against Coca-Cola Consolidated, Inc.’s own cost of capital: risk-free 4.3% + beta 0.61 × equity premium 4.5% = 7.0% cost of equity; weighted, 7.0%.

Use 7.0%
Equity value $15.23b ▼ below market cap $17.24b
Base case value per share $187.93 equity value ÷ 81.03m shares
Current price $212.75 market price per share
Below today’s price 11.7% downside at the base case’s assumptions

How we got there$6.73b 10 years of cash to equity+$11.02b terminal value−$2.51b net debt=$15.23b equity value÷81.03m shares=$187.93 per share

Valuation against its own history

Today’s multiple against its 5- and 10-year averages and the industry median (Beverages Non Alcoholic).

Multiple Current 5Y avg 10Y avg vs 10Y avg Industry median vs industry 10Y range
P/E 28.08× 20.09× 43.41× 35% below 23.95× 17% above
P/FCF 25.54× 20.88× 21.12× 21% above 24.11× 6% above
P/B — 6.23× 5.51× — 4.69× —
EV/EBITDA 13.41× 10.34× 10.33× 30% above 13.41× 0% above
EV/Sales 2.11× 1.61× 1.21× 75% above 1.98× 7% above
P/E P/FCF P/B EV/EBITDA EV/Sales
14.12×80.52×146.93×213.33×10Y avg 43.41×2016201720192020202120222023202420252026

COKE trades at 28.08× P/E, against a 10-year average of 43.41× (range 10.39×–234.79×). That is dearer than 67% of the last 9 year-end readings; re-rating to the average implies $328.88 per share.

Every growth rate on this page is the business’s — its cash flow, FFO or dividend — never its share price’s. A discounted-cash-flow model is only as good as its assumptions. Figures from the 10-K and 10-Q filings. Not investment advice.