COCA-COLA EUROPACIFIC PARTNERS PLC vs DIAGEO plc, two Food & Beverage stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
A Coca-Cola bottler beside a global distiller, similar in size at $46.3B and $46.4B, both free of net debt. Their returns on equity nearly match, 23.83% for Coca-Cola Europacific Partners and 18.53% for Diageo, as do their net margins, 9.47% against 9.08%. The bottler trades a touch dearer on earnings, 21.94 times against Diageo's 19.73, while Diageo commands the lower book multiple, 3.39 against CCEP's 5.13. Diageo's reported free cash yield of 27.68% dwarfs the bottler's 5.17%, but such an outsized figure usually reflects a one-time swing rather than the normal run rate, so lean on it lightly. Distributing soda and distilling spirits earn near-equal returns here, and the market prices them as such.
Comparison updated 2026-07-11.
| Metric | CCEP | DEO |
|---|---|---|
| Price | $105.78 | $81.96 |
| Market cap | $48.2B | $45.5B |
| Sector | Food & Beverage | Food & Beverage |
| Stage | Mature | Mature |
| Implied growth (priced in) | +0.2% | — |
| P/E | 22.8 | 19.4 |
| P/B | 5.34 | 3.32 |
| P/S | 2.12 | 1.63 |
| EV/EBITDA | 15.6 | 10.0 |
| Revenue growth | +11.4% | +4.2% |
| Gross margin | 35.6% | 43.5% |
| Operating margin | 13.4% | 15.5% |
| Net margin | 9.5% | 9.1% |
| Return on equity | 23.8% | 18.5% |
| Return on assets | 6.6% | 5.0% |
| Return on invested capital | 25.9% | 22.7% |
| FCF yield | 5.0% | 28.2% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 0.80 | 1.60 |
| Altman Z (solvency) | 2.60 | 2.00 |
| Piotroski F (quality) | 8 / 9 | 4 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.