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Cash flow from operations refers to the cash brought in through a company's normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.
Coca-Cola HBC AG (ATH:EEE) Cash Flow from Operations Explanation
For companies reported in indirect method, cash flow from operations contains six items:
1. Net Income From Continuing Operations:
Net Income From Continuing Operations indicates the net income that a firm brings in from ongoing business activities. These activities are expected to continue into the next reporting period. It excludes extraordinary items, income from the cumulative effects of accounting changes, non-recurring items, income from tax loss carry forward, and preferred dividends.
Coca-Cola HBC AG's net income from continuing operations for the
six
months ended in Dec. 2025 was €470 Mil.
2. Depreciation, Depletion and Amortization:
Depreciation is a present expense that accounts for the past cost of an asset that is now providing benefits.
Depletion and amortization are synonyms for depreciation.
Generally:
The term depreciation is used when discussing man made tangible assets
The term depletion is used when discussing natural tangible assets
The term amortization is used when discussing intangible assets
Coca-Cola HBC AG's depreciation, depletion and amortization for the
six
months ended in Dec. 2025 was €221 Mil.
3. Change In Working Capital:
Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities. Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow.
Coca-Cola HBC AG's change in working capital for the
six
months ended in Dec. 2025 was €275 Mil. It means Coca-Cola HBC AG's working capital
increased by €275 Mil
from Jun. 2025 to Dec. 2025 .
4. Deferred Tax:
It is the cash flow generated from deferred tax.
Coca-Cola HBC AG's cash flow from deferred tax for the
six
months ended in Dec. 2025 was €191 Mil.
Coca-Cola HBC AG's cash from discontinued operating Activities for the
six
months ended in Dec. 2025 was €0 Mil.
6. Asset Impairment Charge:
It is the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value.
Coca-Cola HBC AG's asset impairment charge for the
six
months ended in Dec. 2025 was €0 Mil.
7. Stock Based Compensation:
It is a way corporations use stock options to reward employees. It provides executives and employees the opportunity to share in the growth of the company and, if structured properly, can align their interests with the interests of the company's shareholders and investors, without burning the company's cash on hand.
Coca-Cola HBC AG's stock based compensation for the
six
months ended in Dec. 2025 was €10 Mil.
8. Cash Flow from Others:
These are cash differences caused by the change of inventory, accounts payable, accounts receivable etc. For instance, if a company pays its suppliers slower, its cash position will build up faster. If a company receives payments from its customers slower, its account receivables will rise, and its cash position will grow more slowly (or even shrink).
Coca-Cola HBC AG's cash flow from others for the
six
months ended in Dec. 2025 was €-175 Mil.
Coca-Cola HBC AG Cash Flow from Operations Related Terms
Coca-Cola HBC AG Cash Flow from Operations Historical Data
* Premium members only.
The historical data trend for Coca-Cola HBC AG's Cash Flow from Operations can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Coca-Cola HBC AG Cash Flow from Operations Calculation
Cash flow from operations refers to the cash brought in through a company's normal business operations. It is the cash flow before any investment or financing activities. It is the cash version of net income.
Coca-Cola HBC AG's Cash Flow from Operations for the fiscal year that ended in Dec. 2025 is calculated as:
Cash Flow from Operations for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €1,514 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a Cash Flow from Operations of €1,514 Mil mean?
Coca-Cola HBC AG (ATH:EEE) has a Cash Flow from Operations of €1,514 Mil as of Dec. 2025. Cash Flow from Operations is the amount of cash earned or paid from standard business operations. View historical data for Coca-Cola HBC AG and its competitors.
Is Coca-Cola HBC AG's Cash Flow from Operations too high?
Coca-Cola HBC AG's current Cash Flow from Operations is €1,514 Mil. Overall, Coca-Cola HBC AG has a GF Score™ of 96/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Coca-Cola HBC AG's Cash Flow from Operations compare to KO and PEP?
Coca-Cola HBC AG's Cash Flow from Operations of €1,514 Mil can be compared against companies in the Beverages - Non-Alcoholic industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Flow from Operations for a Beverages - Non-Alcoholic company?
A good Cash Flow from Operations depends on the Beverages - Non-Alcoholic industry context. However, Cash Flow from Operations should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Flow from Operations mean?
A high Cash Flow from Operations can signal that a stock is expensive relative to its fundamentals. Cash Flow from Operations is the amount of cash earned or paid from standard business operations. View historical data for Coca-Cola HBC AG and its competitors. Coca-Cola HBC AG's current Cash Flow from Operations is €1,514 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Coca-Cola HBC AG stock overvalued right now?
Based on GuruFocus' analysis, Coca-Cola HBC AG (ATH:EEE) is currently considered Significantly Overvalued. The stock's GF Value™ is €38.73, compared to a current price of €57.90 — trading 49.5% above its estimated fair value. The current Cash Flow from Operations is €1,514 Mil. Coca-Cola HBC AG's overall GF Score™ is 96/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Flow from Operations calculated?
Cash Flow from Operations is calculated from a company's financial statements. For Coca-Cola HBC AG (ATH:EEE), the current Cash Flow from Operations is €1,514 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Coca-Cola HBC AG (ATH:EEE) Overvalued in 2026?
Based on GuruFocus' analysis, Coca-Cola HBC AG stock appears to be overvalued.
The current stock price of €57.90 is trading 49.5% above its estimated GF Value™ of €38.73.
GuruFocus considers Coca-Cola HBC AG to be Significantly Overvalued.
Key valuation signals for ATH:EEE:
Cash Flow from Operations: €1,514 Mil
GF Value™: €38.73 vs. price of €57.90 (49.5% above fair value)
No single metric tells the full story. See the ATH:EEE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Coca-Cola HBC is the third-largest bottling partner in the Coca-Cola system by volume, behind Coca-Cola Femsa and Coca-Cola Europacific Partners. In 2025, CCHBC sold 2.9 billion unit cases of beverages. There is a long tail of Coca-Cola distributors, including brewers and independent operators with very small distribution territories.CCHBC is listed on the London Stock Exchange. Kar-Tess, a Luxembourg-based holding company, owns 23% of the equity of CCHBC, and Coca-Cola holds a further 21%. The remaining 56% is free float.
96GF Score
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