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UK maker of premium carbonated mixers, such as tonic water and ginger beer, for cocktails and spirits.
UK maker of premium carbonated mixers, such as tonic water and ginger beer, for cocktails and spirits.
Sells mixers at a higher price than ordinary tonic and soda, and outsources bottling to contract producers instead of owning factories, so little capital is tied up in plants. Demand follows spirits drinking, since its drinks are bought to go with gin, vodka and whisky. The UK is home, with the US and Europe both large markets.
In one line: A UK premium-mixer maker.
Moat: narrow (brand, distribution). Premium brand positioning tied to gin/cocktail culture, though imitable by rivals.
Headquarters: London, UK · Founded: 2004 · Employees: 285
Size Fevertree Drinks (FEVR.L) is a United Kingdom Consumer Staples company (Beverages: Non-Alcoholic) with a market value of $1.36B, the 195th largest of 363 United Kingdom companies the cockpit tracks. Shares closed at £922.50 on 6 Nov 2026.
Performance Over six months the shares gained 18.3%, against +2.8% for the median peer and +3.6% for the United Kingdom market (cap-weighted) — 3rd highest of 21 in its peer set.
Growth Revenue grew 1.7% over the last twelve months (peer median +2.7%); the operating margin is 8.9% (peer median 7.6%).
Valuation It trades at 33.0× forward earnings against a peer median of 14.6× (most expensive of 15).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +5%, so the hurdle is +23 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.1 points above its cost of capital (12.8% WACC).
Next results Next results expected around 30 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | £346M | £325M | £368M | £364M | £344M |
| Revenue growth | — | -12% | +1% | +6% | — |
| Gross profit | £107M | £107M | £129M | £109M | £113M |
| EBITDA | £38.8M | £36.8M | £47.7M | £29.5M | £35.4M |
| Net income | £25.2M | £22.6M | £24.4M | £15.4M | £24.9M |
| Free cash flow | £31.3M | £30.3M | £70.1M | -£4.50M | £4.60M |
| Capital expenditure | £4.70M | £4.90M | £14.1M | £9.60M | £7.10M |
| Total debt | n/a | £3.60M | £12.1M | £15.2M | £16.9M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Fevertree Drinks FEVR.L | $1.36B | +18% | +2% | 9% | 33.0× | 27.9% |
| Coca-Cola Company (The) KO | $412B | +23% | +8% | 32% | 27.6× | 2.8% |
| Diageo DGE.L | $56.3B | +25% | -6% | 29% | 15.2× | -0.9% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FEVR.L | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.2% | +1.7% | 6th highest of 21 |
| 6-month return | +18.3% | +2.8% | 3rd highest of 21 |
| Distance from 52-week high | -5.2% | -18.8% | 3rd highest of 21 |
| Revenue growth (TTM) | +1.7% | +2.7% | 10th lowest of 21 |
| Operating margin | 8.9% | 7.6% | 8th highest of 20 |
| Forward P/E | 33.0× | 14.6× | most expensive of 15 |
| Growth the price implies (Req g, 7 yrs) | 27.9% | -2.0% | 2nd most demanding of 14 |
| Growth delivered (Del g) | +5.2% | +6.1% | 7th lowest of 14 |
| Hurdle (Req g minus delivered) | +22.7 pp | -14.0 pp | 2nd most demanding of 14 |
| ROIC minus cost of capital | +4.1 pp | +3.6 pp | 9th highest of 20 |
| EV / EBITDA | 24.5× | 7.3× | 2nd most expensive of 17 |
| Net debt / EBITDA | -1.6× | 0.5× | 6th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Fevertree Drinks FEVR.L | United Kingdom | $1.36B | +18% | +2% | 9% | 33.0× | 27.9% | +5.2% |
| China Foods 0506.HK | Hong Kong | $1.43B | +8% | +4% | 8% | 10.1× | -17.0% | +4.3% |
| Princes PRN.L | United Kingdom | $1.21B | -3% | +30% | 4% | 12.6× | -7.1% | +9.3% |
| Lassonde Industries LAS-A.TO | Canada | $1.14B | +4% | +2% | 9% | 8.9× | -13.2% | +8.2% |
| Shenzhen Cereals 000019.SZ | China | $1.04B | -20% | +1% | 6% | n/a | 4.6% | -14.3% |
| NATURECELL 007390.KS | South Korea | $1.04B | +14% | -15% | -18% | n/a | n/a | n/a |
| A.G. BARR p.l.c BAG.L | United Kingdom | $887M | -2% | +7% | 15% | 12.4× | n/a | n/a |
| China Resources Beverage (Holdings) 2460.HK | Hong Kong | $2.27B | -14% | -19% | 6% | 18.1× | n/a | n/a |
| LotteChilsung 005300.KS | South Korea | $791M | -9% | +1% | 5% | 11.2× | -2.0% | +12.0% |
| SDIC Zhonglu Fruit Juice 600962.SS | China | $2.62B | -1% | +100% | n/a | n/a | n/a | n/a |
| DyDo 2590.T | Japan | $624M | +21% | +3% | 4% | 17.3× | n/a | n/a |
| Nanfang Black Sesame 000716.SZ | China | $590M | +2% | +5% | 2% | n/a | 28.5% | -10.1% |
| Nichols NICL.L | United Kingdom | $539M | +18% | +3% | 18% | 15.1× | 0.2% | +8.1% |
| National Beverage FIZZ | United States | $3.48B | +6% | -2% | 18% | 19.2× | 3.4% | +1.9% |
| Zhe Jiang Li Zi Yuan Food 605337.SS | China | $526M | -17% | -4% | 12% | 22.1× | n/a | n/a |
| Premium Water 2588.T | Japan | $483M | +4% | +4% | 16% | n/a | -11.0% | +7.4% |
| Embotelladora Andina S.A. Sponsored ADR Pfd AKO-B | United States | $4.26B | +7% | +10% | 13% | 14.6× | -4.2% | +10.4% |
| Lifedrink 2585.T | Japan | $410M | -12% | +21% | 10% | 14.6× | n/a | n/a |
| Uni-President China 0220.HK | Hong Kong | $4.56B | +12% | +4% | 8% | 14.0× | -8.3% | +6.1% |
| Coca-Cola Bottlers Japan 2579.T | Japan | $4.60B | +31% | -2% | 4% | 31.7× | 8.4% | +2.4% |
| Hey-Song 1234.TW | Taiwan | $389M | -9% | -8% | 5% | n/a | 10.4% | +0.7% |