London, June 29, 2026, 16:06 BST
- Fevertree Drinks slipped 0.8% to 810p as of 1605 BST. About 1.41 million shares changed hands, close to 3.4 times the average on Google Finance.
- The most recent regulatory update on Fever-Tree’s investor page was a June 23 notice on own-share purchases. There’s been no new company news posted in the last couple of days.
- The stock trades at a rich earnings multiple compared to other soft-drink names, but over five years, its share price has lagged the FTSE 350 by over 100 percentage points, according to FTSE Russell data.
Fevertree Drinks PLC (LON:FEVR) fell late in London on Monday. Shares were off 0.8% at 810p at 1605 BST, after trading between 780p and 827.9p, according to Google Finance. Trade was busy, but company news was thin. The London Stock Exchange was open for its usual Monday session from 0800 to 1630 BST.
Volume stood out even though the price barely moved. Google Finance reported 1.41 million shares traded, way above the 410,980 average. Fever-Tree’s site still showed a June 23 “Transaction in Own Shares” as its latest regulatory update, so the activity seemed like positioning before results rather than trading on fresh news. Google
| Monday market read | Latest |
|---|---|
| Price at 1605 BST | 810p |
| One-day move | -0.8% |
| Day range | 780p to 827.9p |
| Volume | 1.41 million shares |
| Average volume | 410,980 shares |
| Market value | £918.96 million |
The issue is valuation. Fevertree traded at 37.4 times trailing earnings according to a FTSE Russell tear sheet dated June 26. That’s much higher than the peer average of 21.8 times. But five-year EPS growth was negative, and revenue growth for the same period lagged the peer average.
| Measure | Fevertree | Comparator |
|---|---|---|
| YTD share price is down 0.3% | -0.3% | Peer average up 8.7% |
| Shares have dropped 68.2% over five years | -68.2% | FTSE 350 is up 39.6% |
| Trailing Price/EPS stands at 37.4x | 37.4x | Peer average at 21.8x |
| EPS shrank 9.4% in five years | -9.4% | Peer average rose 12.8% |
| Revenue gained 5.2% in that time | +5.2% | Peer average up 11.2% |
The gap keeps the stock at risk if the U.S. rebound stalls. In its June AGM statement, Fever-Tree said the Molson Coors Beverage Co (NYSE:TAP) deal is past the early transition—new accounts are coming in and distribution is expanding. The company said its first national U.S. marketing campaign started in April.
Cash returns are helping. The company added another £30 million to its buyback program in June. That comes after finishing a £100 million buyback in FY25 and an active £30 million buyback, of which £18.9 million had been returned by June 5. CEO Tim Warrillow said Fever-Tree remains “well hedged from a cost perspective” and is still confident about market forecasts for adjusted revenue and EBITDA. Investegate
The dividend calendar is now up. The 2025 final payout of 11.34p per share went out on June 26, taking the yearly total to 17.31p, a 2% increase from 2024.
Fevertree’s latest numbers help explain why investors are tracking margins as closely as sales. The company posted adjusted revenue of £375.3 million for 2025, up 3%, but adjusted EBITDA dropped 16% to £42.4 million. U.S. revenue climbed 6% at constant currency, while UK revenue slipped 2%.
A fight over a packaging levy became an extra issue. Reuters said in March that Fevertree took a £2.8 million charge related to the UK Extended Producer Responsibility levy and started legal action against the Environment Agency. Investec Bank analyst Matthew Webb said the provision was “accounting prudence rather than any change” in Fever-Tree’s confidence about where it stands. Reuters
The U.S. partner adds scale but also brings a risk from read-across. Molson Coors expects adjusted earnings per share to drop 11% to 15% in 2026, hit by aluminium tariffs and softer demand from budget-conscious shoppers. Fever-Tree said in June its 2026 glass costs were fully hedged from high energy prices, with that hedge now reaching into 2027 and 2028.
Fever-Tree plans to post interim results on Sept. 10, with TradingView also showing that as the next earnings date for the stock.
