The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Coca-Cola Europacific Partners Piotroski F-Score Related Terms
Coca-Cola Europacific Partners Piotroski F-Score Historical Data
* 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.
MEX:CCEPN vs KO, PEP, MNST: Piotroski F-Score Comparison
For the Beverages - Non-Alcoholic subindustry, Coca-Cola Europacific Partners's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Coca-Cola Europacific Partners Piotroski F-Score vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Coca-Cola Europacific Partners's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Coca-Cola Europacific Partners's Piotroski F-Score falls into.
* 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.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Coca-Cola Europacific Partners's current Net Income (TTM) was 40,945.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Coca-Cola Europacific Partners's current Cash Flow from Operations (TTM) was 62,261.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Coca-Cola Europacific Partners's return on assets of this year was 0.06028643. Coca-Cola Europacific Partners's return on assets of last year was 0.05718619.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Coca-Cola Europacific Partners's gearing of this year was 0.32935552. Coca-Cola Europacific Partners's gearing of last year was 0.35565926.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Coca-Cola Europacific Partners's current ratio of this year was 0.80145023. Coca-Cola Europacific Partners's current ratio of last year was 0.81457847.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Coca-Cola Europacific Partners's number of shares in issue this year was 456. Coca-Cola Europacific Partners's number of shares in issue last year was 461.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Coca-Cola Europacific Partners's gross margin of this year was 0.35596383. Coca-Cola Europacific Partners's gross margin of last year was 0.35282317.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Coca-Cola Europacific Partners's asset turnover of this year was 0.6488397. Coca-Cola Europacific Partners's asset turnover of last year was 0.82423932.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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7
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Coca-Cola Europacific Partners has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Coca-Cola Europacific Partners (MEX:CCEPN) has a Piotroski F-Score of 7 as of Jul. 03, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Coca-Cola Europacific Partners and its competitors. This is 17% above median its historical median of 6.00. Over the past decade, Coca-Cola Europacific Partners' Piotroski F-Score has ranged from 5.00 to 8.00. According to the industry distribution chart, Coca-Cola Europacific Partners ranks #16 out of 112 companies in the Beverages - Non-Alcoholic industry, placing it in the top 14.3%.
Is Coca-Cola Europacific Partners' Piotroski F-Score too high?
Coca-Cola Europacific Partners' current Piotroski F-Score of 7 is 17% above median its 10-year median of 6.00. Over the past 10 years, this metric has ranged from a low of 5.00 to a high of 8.00. The Beverages - Non-Alcoholic industry median Piotroski F-Score is 5.50. Coca-Cola Europacific Partners' value of 7 is 27.3% above this industry median. Based on the distribution chart, Coca-Cola Europacific Partners ranks #16 out of 112 companies in the Beverages - Non-Alcoholic industry, which is in the top quartile — a strong position relative to peers. Overall, Coca-Cola Europacific Partners has a GF Score™ of 83/100, reflecting its overall financial health beyond just this single metric.
How does Coca-Cola Europacific Partners' Piotroski F-Score compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Coca-Cola Europacific Partners ranks #16 out of 112 companies for Piotroski F-Score. This places Coca-Cola Europacific Partners in the top 14% of its industry — outperforming the majority of peers. The industry median Piotroski F-Score is 5.50. Coca-Cola Europacific Partners' value of 7 is 27.3% above this benchmark. Historically, Coca-Cola Europacific Partners' own Piotroski F-Score has ranged from 5.00 to 8.00 over the past decade. While the company's 10-year median is 6.00 vs. the industry median of 5.50, Coca-Cola Europacific Partners has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Beverages - Non-Alcoholic company?
The median Piotroski F-Score among Beverages - Non-Alcoholic companies is 5.50, based on 112 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Coca-Cola Europacific Partners's current Piotroski F-Score of 7 is 27.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on Coca-Cola Europacific Partners and its competitors. For the Beverages - Non-Alcoholic industry, the median Piotroski F-Score is 5.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Coca-Cola Europacific Partners's current Piotroski F-Score is 7, which is 17% above median its own 10-year median of 6.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Coca-Cola Europacific Partners stock overvalued right now?
Coca-Cola Europacific Partners (MEX:CCEPN) has a current Piotroski F-Score of 7. The stock's GF Value™ is MXN1,418.93, compared to a current price of MXN1,559.20 — trading 9.9% above its estimated fair value. The current Piotroski F-Score is 7, which is 17% above median its 10-year median of 6.00 and 27.3% above the Beverages - Non-Alcoholic industry median of 5.50. Coca-Cola Europacific Partners' overall GF Score™ is 83/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For Coca-Cola Europacific Partners (MEX:CCEPN), the current Piotroski F-Score is 7 as of Jul. 03, 2026. 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 Europacific Partners (MEX:CCEPN) Overvalued in 2026?
Based on GuruFocus' analysis, Coca-Cola Europacific Partners stock appears to be overvalued.
The current stock price of MXN1,559.20 is trading 9.9% above its estimated GF Value™ of MXN1,418.93.
Key valuation signals for MEX:CCEPN:
Piotroski F-Score: 7 (17% above median its 10-year median of 6.00)
GF Value™: MXN1,418.93 vs. price of MXN1,559.20 (9.9% above fair value)
Industry Position: 27.3% above the Beverages - Non-Alcoholic median (#16 of 112)
No single metric tells the full story. See the MEX:CCEPN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Coca-Cola Europacific Partners Business Description
CCEP is the second-largest bottling partner in the Coca-Cola system by volume, behind Coca-Cola Femsa, and primarily operates in developed Europe, Australasia, and Southeast Asia. In 2025, CCEP sold 3.9 billion unit cases of beverages, which we estimate equates to roughly 9% of the global Coke system volume.TCCC owns 19% of the equity of CCEP, Olive Partners, a holding company of bottling operations, owns a further 36%, and the remaining 45% is free float.
83GF Score
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