ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. Coca-Cola HBC AG's annualized return on capital (ROC %) for the quarter that ended in Dec. 2025 was 10.19%.
As of today (2026-06-24), Coca-Cola HBC AG's WACC % is 6.11%. Coca-Cola HBC AG's ROC % is 10.46% (calculated using TTM income statement data).
Coca-Cola HBC AG generates higher returns on investment than it costs the company to raise the capital needed for that investment. It is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases.
Coca-Cola HBC AG (CHIX:CCHl) ROC % Explanation
ROC % measures how well a company generates cash flow relative to the capital it has invested in its business. It is also called ROIC %. The reason book values of debt and equity are used is because the book values are the capital the company received when issuing the debt or receiving the equity investments.
There are four key components to this definition. The first is the use of operating income or EBIT rather than net income in the numerator. The second is the tax adjustment to this operating income or EBIT, computed as a hypothetical tax based on an effective or marginal tax rate. The third is the use of book values for invested capital, rather than market values. The final is the timing difference; the capital invested is from the end of the prior year whereas the operating income or EBIT is the current year's number.
Why is ROC % important?
Because it costs money to raise capital. A firm that generates higher returns on investment than it costs the company to raise the capital needed for that investment is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases, whereas a firm that earns returns that do not match up to its cost of capital will destroy value as it grows.
As of today, Coca-Cola HBC AG's WACC % is 6.11%. Coca-Cola HBC AG's ROC % is 10.46% (calculated using TTM income statement data).
Coca-Cola HBC AG generates higher returns on investment than it costs the company to raise the capital needed for that investment. It is earning excess returns. A firm that expects to continue generating positive excess returns on new investments in the future will see its value increase as growth increases.
Be Aware
Like ROE % and ROA %, ROC % is calculated with only 12 months of data. Fluctuations in the company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Coca-Cola HBC AG ROC % Related Terms
Coca-Cola HBC AG ROC % Historical Data
* Premium members only.
The historical data trend for Coca-Cola HBC AG's ROC % 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.
Note:
The Operating Income data used here is two times the semi-annual (Dec. 2025) data.
The tax rate is limited to between 0% and 100%.
* 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 (CHIX:CCHL) has a ROC % of 10.19% as of Dec. 2025. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Coca-Cola HBC AG and its competitors.
Is Coca-Cola HBC AG's ROC % too high?
Coca-Cola HBC AG's current ROC % is 10.19%. The Beverages - Non-Alcoholic industry median ROC % is 8.72. Coca-Cola HBC AG's value of 10.19% is 16.9% above this industry median. Overall, Coca-Cola HBC AG has a GF Score™ of 89/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Coca-Cola HBC AG's ROC % compare to KO and PEP?
Coca-Cola HBC AG's ROC % of 10.19% can be compared against companies in the Beverages - Non-Alcoholic industry. The industry median ROC % is 8.72. Coca-Cola HBC AG's value of 10.19% is 16.9% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC % for a Beverages - Non-Alcoholic company?
The median ROC % among Beverages - Non-Alcoholic companies is 8.72, based on 114 companies in the industry. Companies in the top quartile (top 25%) have a ROC % significantly above this median, while those in the bottom quartile fall well below. However, ROC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Coca-Cola HBC AG's current ROC % of 10.19% is 16.9% 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 ROC % mean?
A high ROC % can signal that a stock is expensive relative to its fundamentals. Return on capital is the ratio of current-period net income to average two-period capital. View historical data on Coca-Cola HBC AG and its competitors. For the Beverages - Non-Alcoholic industry, the median ROC % is 8.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Coca-Cola HBC AG's current ROC % is 10.19%. 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 (CHIX:CCHL) is currently considered Significantly Overvalued. The stock's GF Value™ is £32.87, compared to a current price of £46.50 — trading 41.5% above its estimated fair value. The current ROC % is 10.19% and 16.9% above the Beverages - Non-Alcoholic industry median of 8.72. Coca-Cola HBC AG's overall GF Score™ is 89/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC % calculated?
ROC % is calculated from a company's financial statements. For Coca-Cola HBC AG (CHIX:CCHL), the current ROC % is 10.19% 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 (CHIX:CCHL) Overvalued in 2026?
Based on GuruFocus' analysis, Coca-Cola HBC AG stock appears to be overvalued.
The current stock price of £46.50 is trading 41.5% above its estimated GF Value™ of £32.87.
GuruFocus considers Coca-Cola HBC AG to be Significantly Overvalued.
Key valuation signals for CHIX:CCHL:
ROC %: 10.19%
GF Value™: £32.87 vs. price of £46.50 (41.5% above fair value)
Industry Position: 16.9% above the Beverages - Non-Alcoholic median
No single metric tells the full story. See the CHIX:CCHL 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.
89GF Score
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