Coca-Cola Europacific Partners
CCEP · NasdaqBottled & Canned Soft Drinks & Carbonated Waters · Fiscal year ends Dec 31 · Reports in EUR
Coca-Cola Europacific Partners reported revenue of EUR 20.9B in the fiscal year ended Dec 2025, up 2.3% from the year before. Operating income was EUR 2.8B, an operating margin of 13.4%, and net income was EUR 2B. Operating cash flow of EUR 3B less capital expenditure of EUR 750M left free cash flow of EUR 2.2B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | EUR 13.8B | EUR 17.3B | EUR 18.3B | EUR 20.4B | EUR 20.9B |
| Cost of revenue | EUR 8.7B | EUR 11.1B | EUR 11.6B | EUR 13.2B | EUR 13.5B |
| Gross profit | EUR 5.1B | EUR 6.2B | EUR 6.7B | EUR 7.2B | EUR 7.4B |
| Operating income | EUR 1.5B | EUR 2.1B | EUR 2.3B | EUR 2.1B | EUR 2.8B |
| Interest expense | EUR 172M | EUR 181M | EUR 185M | EUR 272M | EUR 306M |
| Pre-tax income | EUR 1.4B | EUR 2B | EUR 2.2B | EUR 1.9B | EUR 2.6B |
| Income tax | EUR 394M | EUR 436M | EUR 534M | EUR 492M | EUR 590M |
| Net income | EUR 988M | EUR 1.5B | EUR 1.7B | EUR 1.4B | EUR 2B |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | EUR 1.4B | EUR 1.4B | EUR 1.4B | EUR 1.6B | EUR 918M |
| Inventory | EUR 1.2B | EUR 1.4B | EUR 1.4B | EUR 1.6B | EUR 1.5B |
| Current assets | EUR 5.8B | EUR 6.5B | EUR 6.6B | EUR 6.6B | EUR 6.1B |
| Net PP&E | EUR 5.2B | EUR 5.2B | – | – | – |
| Goodwill | EUR 4.6B | EUR 4.6B | EUR 4.5B | EUR 4.7B | EUR 4.5B |
| Total assets | EUR 29.1B | EUR 29.3B | EUR 29.3B | EUR 31.1B | EUR 29.9B |
| Payables | EUR 4.2B | EUR 5.1B | EUR 5.2B | EUR 5.8B | EUR 6.2B |
| Current liabilities | EUR 6.1B | EUR 7.3B | EUR 7.3B | EUR 8.1B | EUR 7.6B |
| Total liabilities | EUR 21.9B | EUR 21.9B | EUR 21.3B | EUR 22.1B | EUR 21.6B |
| Shareholders' equity | EUR 7B | EUR 7.4B | EUR 8B | EUR 8.5B | EUR 7.8B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | EUR 2.1B | EUR 2.9B | EUR 2.8B | EUR 3.1B | EUR 3B |
| Capital expenditure | EUR 349M | EUR 500M | EUR 672M | EUR 791M | EUR 750M |
| Free cash flow | EUR 1.8B | EUR 2.4B | EUR 2.1B | EUR 2.3B | EUR 2.2B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 25.8% | 5.7% | 11.7% | 2.3% |
| Operating income growth (YoY) | – | 37.6% | 12.1% | −8.8% | 31.0% |
| Gross margin | 37.0% | 35.9% | 36.7% | 35.3% | 35.6% |
| Operating margin | 11.0% | 12.0% | 12.8% | 10.4% | 13.4% |
| Net margin | 7.2% | 8.8% | 9.1% | 7.1% | 9.5% |
| Return on equityBlank when equity is negative | 14.0% | 20.4% | 20.9% | 17.0% | 25.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 6.6% | 9.5% | 10.6% | 9.3% | 12.5% |
| Free cash flow margin | 12.8% | 14.0% | 11.7% | 11.1% | 10.5% |
| Cash conversion (CFO ÷ net income) | 2.14x | 1.93x | 1.68x | 2.12x | 1.49x |
| Inventory days | 49 | 45 | 43 | 44 | 42 |
| Payable days | 178 | 166 | 165 | 160 | 168 |
| Interest cover | 8.81x | 11.5x | 12.6x | 7.84x | 9.13x |
| Current ratio | 0.95x | 0.89x | 0.91x | 0.81x | 0.80x |
More in Bottled & Canned Soft Drinks & Carbonated Waters
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.