$Coca-Cola Europacific (CCEP.US)$ 🎯 As of 2024.3.19, the cu...

New data: 2023 annual report.

In 2023, revenue increased by 5.7%, operating profit increased by 9.1%, and net income increased by 9.7%, all lower than the interim report, indicating a significant slowdown in growth in the second half of the year. The gross margin recovered from 35.9% in 2022 to 36.7%, which is basically within the normal range.

The asset-liability ratio decreased from 74.6% to 72.7%, with a slight shrinkage in total assets. Cash on the asset side slightly increased, accounts receivable slightly increased, inventories slightly decreased, and goodwill decreased from 17.1 billion to 16.9 billion. On the liability side, long-term borrowings decreased from 10.04 billion to 9.55 billion.

The net operating income is 2.8 billion, significantly higher than the net investment income of 0.94 billion.

Currently, the P/E ratio is 17.9, the dividend yield is 2.9%, and the valuation is in the high end of the reasonable range, so no adjustments will be made for now.