Coca-Cola Consolidated Inc (COKE) is slightly overvalued and Primo Brands Corp (PRMB) is slightly undervalued.
Against our estimates of intrinsic value, PRMB trades at the wider discount: a margin of safety of +9%, 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 7.3% (average of 3 methods) values the shares at $21.64; the price of $19.64 is 9% below that value, and 83% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | COKE | PRMB |
|---|---|---|
| Verdict | Slightly overvalued | Slightly undervalued |
| Price | $190.98 | $19.64 |
| Intrinsic value | $166.54 | $21.64 |
| Margin of safety | -15% | +9% |
| Leak Score | 44/100 (2/12) | 0/100 (2/12) |
| Market cap | $12.7B | $7.1B |
| Revenue growth, 5 years | 7.6% | 27.8% |
| Operating margin | 13.0% | 10.4% |
| Net margin | 7.2% | 1.5% |
| Return on equity | 97.3% | 3.6% |
| Debt to equity | — | 1.91 |
| P/E | 26.1x | 71.8x |
| Forward P/E | — | 13.2x |
| P/B | — | 2.4x |
| Dividend yield | 0.5% | 2.4% |