Coca-Cola Consolidated Inc (COKE) is slightly overvalued and Keurig Dr Pepper Inc (KDP) is slightly undervalued.
Against our estimates of intrinsic value, KDP trades at the wider discount: a margin of safety of +14%, against -15% for COKE.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 7.9% (average of 3 methods) values the shares at $166.54; the price of $190.98 is 15% above that value, and 80% of that value comes from beyond year five.
Leak Score 44/100 on 2 of 12 signals
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $36.83; the price of $31.51 is 14% below that value, and 83% of that value comes from beyond year five.
Leak Score 33/100 on 10 of 12 signals
| Metric | COKE | KDP |
|---|---|---|
| Verdict | Slightly overvalued | Slightly undervalued |
| Price | $190.98 | $31.51 |
| Intrinsic value | $166.54 | $36.83 |
| Margin of safety | -15% | +14% |
| Leak Score | 44/100 (2/12) | 33/100 (10/12) |
| Market cap | $12.7B | $42.9B |
| Revenue growth, 5 years | 7.6% | 7.4% |
| Operating margin | 13.0% | 16.9% |
| Net margin | 7.2% | 6.7% |
| Return on equity | 97.3% | 5.7% |
| Debt to equity | — | 1.50 |
| P/E | 26.1x | 31.9x |
| Forward P/E | — | 12.4x |
| P/B | — | 1.7x |
| Dividend yield | 0.5% | 3.0% |