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Fevertree Drinks
(LSE:FEVR)
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Rating:64Neutral
Price Target:
939.00 p
▲(14.51% Upside)
Action:Reiterated
Date:08/07/26
The score is driven primarily by solid overall financial quality supported by a very strong balance sheet, offset by weaker recent operating performance and volatile cash flow. Technicals are a positive tailwind with price above key moving averages and supportive momentum, but the high P/E ratio meaningfully weighs on the overall rating despite a modest dividend yield.
Positive Factors
Strong balance sheet
Extremely low leverage and substantial equity provide durable financial flexibility. This supports investment in distribution, working-capital swings tied to seasonality, and optionality for opportunistic M&A or marketing spend without materially increasing insolvency risk over the next several quarters.
Negative Factors
Recent revenue contraction
A downturn in top-line growth reduces scale benefits and weakens the company’s ability to leverage fixed costs. Sustained or recurrent revenue declines would pressure long-term reinvestment, marketing ROI, and ability to defend premium pricing across channels and markets.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Extremely low leverage and substantial equity provide durable financial flexibility. This supports investment in distribution, working-capital swings tied to seasonality, and optionality for opportunistic M&A or marketing spend without materially increasing insolvency risk over the next several quarters.
Read all positive factors
Fevertree Drinks (FEVR) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£941.27M
Dividend Yield2.07%
Average Volume (3M)455.71K
Price to Earnings (P/E)44.4
Beta (1Y)1.15
Revenue Growth-11.80%
EPS Growth-8.61%
CountryUK
Employees285
SectorConsumer Defensive
Sector Strength42
IndustryBeverages - Non-Alcoholic
Share Statistics
EPS (TTM)0.19
Shares Outstanding111,656,970
10 Day Avg. Volume337,958
30 Day Avg. Volume455,715
Financial Highlights & Ratios
PEG Ratio-4.53
Price to Book (P/B)4.42
Price to Sales (P/S)3.03
P/FCF Ratio32.53
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£1,120.00Price Target Upside36.59% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)0.28
Revenue Forecast (FY)£402.48M
Fevertree Drinks Business Overview & Revenue Model
Company Description
Fevertree Drinks Plc, together with its subsidiaries, specializes in crafting and distributing premium mixer beverages across the United Kingdom, the United States, Europe, and other international markets. Its diverse product portfolio includes po...
How the Company Makes Money
Fevertree makes money by selling branded premium mixers and related soft drinks to customers in different geographies, generating revenue primarily from the wholesale distribution of finished beverages. Its key revenue stream is product sales volu...
Fevertree Drinks Earnings Call Summary
Earnings Call Date:Sep 12, 2024
(Q2-2024)
| % Change Since: |
Next Earnings Date:Sep 10, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong performance in the U.S. market, significant EBITDA and gross margin improvements, and robust growth in non-tonic products. However, challenges remain in the UK and European markets, with revenue declines and on-trade channel difficulties noted. Despite these challenges, the company is optimistic about future growth opportunities.Positive Updates
Significant EBITDA Growth
Fevertree delivered almost 80% EBITDA growth, indicating strong margin recovery.
Negative Updates
Decline in UK Revenue
UK revenue declined by 6% year-on-year, primarily due to the challenging on-trade backdrop and continued weakness of the gin category.
Read all updates
Q2-2024 Updates
Positive
Negative
Significant EBITDA Growth
Fevertree delivered almost 80% EBITDA growth, indicating strong margin recovery.
Read all positive updates
Company Guidance
During the Fevertree Q2 2024 earnings call, the company provided guidance indicating strong financial performance despite challenging market conditions. The executives highlighted an impressive 80% growth in EBITDA and a 520 basis point improvement in gross margin during the first half, with a commitment to achieve 600 basis points for the full year. Revenue growth was reported at 2% on a constant currency basis, with the U.S. market showing double-digit growth and outpacing the total mixer category by 10%. In the U.K., Fevertree maintained its position as the number one brand by value, although it faced challenges in the on-trade sector due to poor weather. The European market saw a 10% decline at constant currency, impacted by weather and order phasing, but underlying brand revenue increased by 1% year-on-year. The Rest of the World region experienced a 56% revenue increase, driven by strong performance in Australia and Canada. Looking ahead, Fevertree anticipates revenue growth acceleration and continued margin recovery, with expectations to deliver a further 200 basis point gross margin improvement in 2025, despite ongoing macroeconomic challenges.Fevertree Drinks Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
88
Very Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 325.00M | 368.50M | 364.40M | 344.30M | 311.10M |
| Gross Profit | 107.30M | 138.40M | 109.00M | 118.80M | 130.90M |
| EBITDA | 36.90M | 45.70M | 30.80M | 37.20M | 60.60M |
| Net Income | 22.60M | 24.40M | 15.40M | 24.90M | 44.60M |
Balance Sheet | |||||
| Total Assets | 287.00M | 321.90M | 313.70M | 311.60M | 336.10M |
| Cash, Cash Equivalents and Short-Term Investments | 91.10M | 96.00M | 59.90M | 95.30M | 166.20M |
| Total Debt | 3.80M | 12.10M | 15.20M | 16.90M | 2.90M |
| Total Liabilities | 63.90M | 75.20M | 75.90M | 72.40M | 54.50M |
| Stockholders Equity | 223.10M | 246.70M | 237.80M | 239.20M | 281.60M |
Cash Flow | |||||
| Free Cash Flow | 30.30M | 56.10M | -13.40M | 1.40M | 42.20M |
| Operating Cash Flow | 33.60M | 70.20M | -3.80M | 8.50M | 46.80M |
| Investing Cash Flow | 13.10M | -10.80M | -9.60M | -10.00M | -4.30M |
| Financing Cash Flow | -51.20M | -23.60M | -23.10M | -70.70M | -19.30M |
Fevertree Drinks Technical Analysis
Neutral
820.00
Price Trends
827.00
Positive
808.15
Positive
823.43
Positive
Market Momentum
8.09
Positive
47.59
Neutral
21.13
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:FEVR, the sentiment is Neutral. The current price of 820 is below the 20-day moving average (MA) of 851.40, below the 50-day MA of 827.00, and below the 200-day MA of 823.43, indicating a neutral trend. The MACD of 8.09 indicates Positive momentum. The RSI at 47.59 is Neutral, neither overbought nor oversold. The STOCH value of 21.13 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for GB:FEVR.
Fevertree Drinks Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | £400.35M | 16.92 | 24.74% | 3.44% | 2.73% | 37.06% | |
77 Outperform | £667.49M | 14.40 | 14.27% | 2.95% | 4.02% | 18.51% | |
72 Outperform | £16.57B | 19.06 | 25.10% | 2.10% | 12.76% | 12.70% | |
64 Neutral | £941.27M | 44.40 | 9.32% | 2.11% | -11.80% | -8.61% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
49 Neutral | £80.19M | 365.38 | 0.71% | ― | 18.91% | ― | |
42 Neutral | £345.13M | 129.70 | 0.62% | 4.80% | -3.68% | -76.00% |
* Consumer Defensive Sector Average
GB:FEVR
Fevertree Drinks
836.00
3.99
0.48%
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Fevertree Drinks Corporate Events
Business Operations and StrategyStock Buyback
Fevertree Cancels Shares After New Buyback Round
Positive
Aug 4, 2026
Fevertree Drinks has launched a share buyback, purchasing ordinary shares on the London Stock Exchange and AIM between 27 July and 31 July 2026 through Investec Bank. The trades were executed at volume-weighted average prices in the low- to mid-80...
Regulatory Filings and Compliance
Fever-Tree Confirms Total Voting Rights at 112.3 Million Shares
Neutral
Aug 3, 2026
Fever-Tree Drinks has confirmed that its total issued share capital stands at 112,264,945 ordinary shares of 0.25p each, with one voting right per share and no shares held in treasury. This establishes the company’s total voting rights at 11...
Business Operations and StrategyStock Buyback
Fevertree cancels shares after July buyback on London markets
Positive
Jul 28, 2026
Fevertree Drinks plc has repurchased a series of its own ordinary shares between 20 and 24 July 2026 via its broker Investec Bank, under the authority granted at its 2025 annual meeting. The buybacks, executed across the London Stock Exchange̵...
Business Operations and StrategyStock Buyback
Fever-Tree Moves to Cancel Shares After Latest Buyback Round
Positive
Jul 21, 2026
Fevertree Drinks plc has executed a share buyback programme under authority granted at its 2025 annual general meeting. The company purchased ordinary shares across London Stock Exchange venues between 13 and 17 July 2026 at volume-weighted averag...
Delistings and Listing ChangesRegulatory Filings and Compliance
Fever-Tree Updates Block Listing Return for Employee Share Schemes
Neutral
Jul 15, 2026
Fever-Tree has reported an updated block listing return for its Long Term Incentive Plan and Savings Related Share Option Scheme covering the period from 2 December 2025 to 14 July 2026. During this time, the company allotted a total of 127,128 sh...
Business Operations and StrategyStock Buyback
Fever-Tree cancels shares after latest buyback on London markets
Positive
Jul 14, 2026
Fevertree Drinks plc has repurchased a series of its own ordinary shares between 6 July and 10 July 2026 on the London Stock Exchange’s main market and AIM, acting through its broker Investec Bank. The buyback was executed under shareholder ...
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Fever-Tree Cancels Newly Repurchased Shares in Ongoing Buyback Programme
Positive
Jul 7, 2026
Fevertree Drinks plc, the premium mixer company behind the Fever-Tree brand, supplies tonic waters and other carbonated mixers to bars, restaurants and retailers, targeting consumers seeking higher-quality alternatives in the soft drinks segment. ...
Regulatory Filings and Compliance
Fever-Tree Clarifies Total Voting Rights as Share Capital Reaches 113 Million Shares
Neutral
Jul 1, 2026
Fever-Tree Drinks plc has confirmed that its total issued share capital stands at 113,111,956 ordinary shares, each carrying one vote, and that it holds no shares in treasury. As a result, the company’s total number of voting rights is 113,1...
Business Operations and StrategyStock Buyback
Fevertree extends share buyback to £60m as capital return accelerates
Positive
Jul 1, 2026
Fevertree Drinks, the UK-based producer of premium carbonated mixers, distributes its range of tonic and other mixer products to over 95 countries worldwide. The company targets both on-trade venues such as hotels, bars and restaurants, and off-tr...
Business Operations and StrategyExecutive/Board Changes
Fever-Tree reshapes board as Non-Executive Director Laura Hagan steps down
Neutral
Jun 30, 2026
Fever-Tree Drinks plc, a UK-based premium beverage company, is the world’s leading supplier of high-quality carbonated mixers for alcoholic spirits, distributing its products to on-trade venues and off-trade retailers in more than 90 countri...
Business Operations and StrategyStock Buyback
Fevertree Drinks Launches Share Buyback and Plans Cancellation of Repurchased Stock
Positive
Jun 30, 2026
Fevertree Drinks has executed a series of share buybacks between 22 and 26 June 2026 on AIM and the London Stock Exchange under an authority granted at its 2025 annual meeting. The trades, carried out through broker Investec Bank, involved multipl...
Business Operations and StrategyStock Buyback
Fever-Tree Cancels Newly Repurchased Shares After June Buyback
Positive
Jun 30, 2026
Fevertree Drinks plc has executed a series of share repurchases between 22 and 26 June 2026 on AIMX and the London Stock Exchange, buying back tens of thousands of ordinary shares at prices generally in the high 700p to low 800p range. The program...
Business Operations and StrategyStock Buyback
Fevertree Cancels Newly Repurchased Shares After June Buyback
Positive
Jun 23, 2026
Fevertree Drinks has carried out a series of share buybacks under authority granted at its 2025 AGM, purchasing multiple tranches of ordinary shares on the AIM and London Stock Exchange between 15 and 19 June 2026 at volume‑weighted average ...
Stock Buyback
Fevertree Cancels Shares After Mid-June Buyback on London Markets
Positive
Jun 16, 2026
Fevertree Drinks has repurchased a tranche of its own ordinary shares under the authority granted at its 2025 annual meeting, executing buybacks on AIM and the London Stock Exchange between 8 and 12 June 2026. The company plans to cancel the repur...
Business Operations and StrategyShareholder Meetings
Fever-Tree Secures Full Shareholder Backing at AGM
Positive
Jun 9, 2026
Fever-Tree, the premium mixer specialist, confirmed that all resolutions at its Annual General Meeting were duly passed, signalling continued shareholder support for the company’s strategy and governance. The smooth approval of AGM business ...
Business Operations and StrategyStock Buyback
Fevertree cancels shares after June buyback to boost capital efficiency
Positive
Jun 9, 2026
Fevertree Drinks plc has repurchased a series of ordinary shares between 1 and 5 June 2026 under the authority granted at its 2025 annual general meeting, executing the transactions via its broker Investec Bank on the London Stock Exchange and AIM...
Business Operations and StrategyStock BuybackDividendsFinancial Disclosures
Fever-Tree extends £30m buyback as U.S. expansion and hedging underpin outlook
Positive
Jun 9, 2026
Fever-Tree Drinks said it has made a solid start to the year and remains on track to meet full-year market expectations, as it extends its ongoing share buyback programme by a further £30m. The move follows a £100m buyback completed in 2...
Business Operations and StrategyStock Buyback
Fevertree Cuts Share Capital with Fresh Buyback and Cancellation
Positive
Jun 2, 2026
Fevertree Drinks has repurchased a total of 155,566 ordinary shares on the London Stock Exchange and AIM between 26 and 29 May 2026, at volume-weighted average prices ranging from about 781p to 806p. The transactions were executed via its broker, ...
Regulatory Filings and Compliance
Fever-Tree Confirms Total Voting Rights at 113.9 Million Shares
Neutral
Jun 1, 2026
Fever-Tree has confirmed that its total issued share capital stands at 113,940,725 ordinary shares, each carrying one voting right, and that it holds no shares in treasury. The disclosure sets the official total voting rights at 113,940,725, provi...
Business Operations and StrategyStock Buyback
Fevertree Cancels Newly Repurchased Shares After May Buyback Run
Positive
May 27, 2026
Fevertree Drinks has repurchased a series of its own ordinary shares on the London Stock Exchange and AIM between 18 and 22 May 2026 under authority granted at its 2025 annual general meeting. The buybacks, executed via broker Investec Bank, were ...
Business Operations and StrategyStock Buyback
Fevertree Cancels Newly Repurchased Shares After Multi-Day Buyback
Positive
May 19, 2026
Fevertree Drinks has executed a series of share buybacks between 11 May and 15 May 2026 on the London Stock Exchange’s main market and AIM, repurchasing multiple tranches of ordinary shares at volume-weighted average prices around the high-7...
Business Operations and StrategyStock Buyback
Fevertree cancels shares after latest buyback round
Positive
May 12, 2026
Fevertree Drinks has repurchased a series of ordinary shares between 5 May and 8 May 2026 on the London Stock Exchange’s main market and AIM, under authority granted at its 2025 annual general meeting. The transactions were executed via Inve...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.