ACCE price target published on 20 Oct 2026, 02:20 CEST.
Price used: CLP 3975 at the close on 23 Oct 2026, 21:00 CEST.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
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Data
ACCE score
68
out of 100
P/E
13.9x
forward 28.3x
1-year return
+25.7%
Dividend yield
3.39%
Embotelladora Andina S.A in four questions
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Overview
ACCE thesis
Embotelladora Andina bottles and distributes Coca-Cola trademark beverages across parts of Chile, Argentina and Brazil, and sells its own Andina and Cachantun water and juice brands. The moat is the exclusive franchise: a bottler cannot be replaced by a competitor for Coca-Cola volume in its territories, and that protects a 39.5% gross margin that sits well above what most food and beverage peers earn. Revenue grew 11.1% over the trailing period, and a 23.8% return on equity on a 3.74 trillion CLP market cap says the business compounds capital efficiently. The stock trades at 13.8 times trailing earnings but 28.1 times forward, a gap that signals the market expects earnings to fall or flatten before any recovery, which is the first thing to pin down in the numbers. The stock is not in any major index, so ownership is thin and its valuation may not reflect the cash generation of a franchise with this margin profile.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Earnings flat despite revenue growth
Revenue rose 11.1% year over year, but earnings grew only 0.1%, so the extra sales did not reach the bottom line. Net margin of 8.3% leaves little room for further squeeze.
moderate
Leverage near one times equity
Debt to equity sits at 0.98, which is moderate but not conservative for a bottler whose earnings are not growing. Interest costs would bite harder if cash generation slowed.
AI research notes
AI-assisted·How I use AIWritten Oct 19, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Andina grew revenue 11.1% over the last year, and has averaged 14.5% annual growth over five years.
Return on equity of 23.8% shows the business earns strong profits on the capital shareholders have put in.
Free cash flow of CLP 183.3B over the last twelve months, with no dilution from new shares, supports the dividend yield of 3.4%.
Why it could disappoint
Analysts' mean price target of CLP 2156.17 sits 42.7% below the share price, a sharp gap that sceptics will question.
Net margin of 8.3% leaves little room for error if input costs or competition squeeze profits further.
Debt equal to 0.98 times equity means the balance sheet carries meaningful leverage that could limit flexibility in a downturn.
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