CELH
Celsius Holdings, Inc.
CELH has the edge over FIZZ overall, supported by stronger modeled upside and stronger fundamentals.
FIZZ
National Beverage Corp.
FIZZ has lower modeled downside risk, despite its lower overall score.
CELH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Strong |
CELH's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
FIZZ Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Strong |
FIZZ's profitability, cash flow and balance sheet are currently healthy, and its revenue is stable.
CELH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 21x | $31.89 | — |
| Current | 35x | $31.89 | — |
| Cheap | 40x | $35.95 | +13% |
| Fair | 141x | $127 | +299% |
| Expensive | 650x | $585 | +1735% |
Historical ranges are pointers, not guarantees.
CELH's PE is in its cheap range at 35x. If earnings grow as analysts expect, today's price would be 21x next year's earnings.
FIZZ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 17x | $30.91 | -15% |
| Fair | 18x | $33.72 | -7% |
| Forward | 18x | $36.26 | — |
| Current | 19x | $36.26 | — |
| Expensive | 22x | $40.73 | +12% |
Historical ranges are pointers, not guarantees.
FIZZ has the edge over CELH in the historical PE scenario, which offers more potential upside but is not a forecast.
CELH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
CELH has the edge over FIZZ on the outlook, with more favorable earnings and revenue expectations.
FIZZ Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Stable | |
| Stable | |
| Stable | |
| Limited | |
| High |
Analysts expect FIZZ's earnings, revenue and profitability to hold roughly steady.
CELH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.53 | +70% |
| Q3 2026 | $0.90 | +718% |
| Q2 2026 | $0.24 | -37% |
| Q1 2026 | $0.43 | +30% |
| Q4 2025 | $0.25 | -44% |
| Q3 2025 | $0.11 | -85% |
| Q2 2025 | $0.38 | -62% |
| Q1 2025 | $0.33 | -64% |
| Q4 2024 | $0.45 | -42% |
CELH has the edge over FIZZ in the latest year-over-year earnings comparison.
FIZZ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.99 | +7.3% |
| Q3 2026 | $1.86 | -6.1% |
| Q2 2026 | $1.96 | -1.5% |
| Q1 2026 | $2.00 | +0.5% |
FIZZ earned $1.86 per share over the past year, down 6.1% from the year before.
CELH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $847.2M | +17% |
| Q2 2026 | $817.9M | +11% |
| Q1 2026 | $782.6M | +138% |
| Q4 2025 | $721.6M | +117% |
| Q3 2025 | $725.1M | +173% |
| Q2 2025 | $739.3M | +84% |
| Q1 2025 | $329.3M | -7.4% |
| Q4 2024 | $332.2M | -4.4% |
CELH has the edge over FIZZ on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +31 points |
| Q2 2026 | 9.2% | -10 points |
| Q1 2026 | 18% | +2 points |
| Q4 2025 | 3.6% | +9.2 points |
| Q3 2025 | -11% | -9.8 points |
| Q2 2025 | 19% | -4.1 points |
| Q1 2025 | 16% | -7.6 points |
| Q4 2024 | -5.6% | -23 points |
CELH has the edge over FIZZ on profitability, with a higher operating margin.
FIZZ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $330.7M | 0% |
| Q2 2026 | $297.1M | -5.3% |
| Q1 2026 | $264.6M | -0.9% |
| Q4 2025 | $288.3M | -1% |
| Q3 2025 | $330.5M | +0.3% |
| Q2 2025 | $313.6M | +5.5% |
| Q1 2025 | $267.1M | -1.1% |
| Q4 2024 | $291.2M | -3% |
FIZZ's revenue grew through 2021 and has held roughly level since: $331M last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 18% | -3.7 points |
| Q2 2026 | 17% | -1.4 points |
| Q1 2026 | 19% | +0.4 points |
| Q4 2025 | 20% | +0.3 points |
| Q3 2025 | 21% | +0.3 points |
| Q2 2025 | 18% | +0.5 points |
| Q1 2025 | 19% | +1.1 points |
| Q4 2024 | 20% | +1.8 points |
FIZZ's operating margin was 18% last quarter, down 3.7 points from the same quarter a year ago.
CELH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $127.7M | -60% |
| Q2 2026 | $205.5M | +479% |
| Q1 2026 | $65.8M | -32% |
| Q4 2025 | -$130M | -285% |
| Q3 2025 | $321.5M | +3599% |
| Q2 2025 | $35.5M | +17% |
| Q1 2025 | $96.4M | -26% |
| Q4 2024 | $70.3M | +16394% |
CELH still generates free cash flow, though less than at its 2025 peak: $269M over the past year.
FIZZ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.8M | +10% |
| Q2 2026 | $35.6M | -20% |
| Q1 2026 | $44.6M | +23% |
| Q4 2025 | $19.9M | -44% |
| Q3 2025 | $56M | +4.1% |
| Q2 2025 | $44.6M | -10% |
| Q1 2025 | $36.3M | +27% |
| Q4 2024 | $35.7M | +45% |
FIZZ has the edge over CELH on cash flow, with more consistent year-over-year improvement.
CELH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.8% | -2M shares |
| 1 year | -1.1% | -2.9M shares |
| 3 years | +7.4% | +17.6M shares |
| 5 years | +8.3% | +19.5M shares |
| Available history | +32% | +62.4M shares |
CELH has the edge over FIZZ on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $300,000 |
| Q2 2026 | $1M |
| Q1 2026 | $8.8M |
| Q4 2025 | $2.5M |
| Q3 2025 | $448,000 |
| Q2 2025 | $879,000 |
| Q1 2025 | $1.9M |
| Q4 2024 | $603,000 |
CELH spent $13M buying back its own shares over the past year, about three times what it spent the year before.
FIZZ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -12K shares |
| 1 year | 0% | -39K shares |
| 3 years | +0.1% | +50K shares |
FIZZ has 94M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | — |
| Q2 2021 | — |
| Q2 2020 | $1.9M |
CELH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.1x | Net Cash |
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 0.5x | Very low |
| Q4 2025 | 1.6x | Healthy |
| Q3 2025 | 0.5x | Very low |
| Q2 2025 | 1.4x | Healthy |
| Q1 2025 | -7.3x | Net Cash |
| Q4 2024 | -5.5x | Net Cash |
CELH has more cash than debt.
FIZZ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -0.4x | Net Cash |
| Q2 2026 | -1.4x | Net Cash |
| Q1 2026 | -1.2x | Net Cash |
| Q4 2025 | -1.0x | Net Cash |
| Q3 2025 | -1.0x | Net Cash |
| Q2 2025 | -0.8x | Net Cash |
| Q1 2025 | -0.6x | Net Cash |
| Q4 2024 | -0.5x | Net Cash |
FIZZ has the edge over CELH on leverage, with a lower net debt burden relative to earnings.
CELH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 51.3 | Neutral |
| Stochastic | 56.8 | Neutral |
CELH's weekly RSI is 51 (neutral) and its Stochastic is 57 (neutral).
FIZZ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 58.7 | Neutral |
| Stochastic | 80.0 | Neutral |
FIZZ's weekly RSI is 59 (neutral) and its Stochastic is 80 (neutral).
CELH PE vs Consumer Defensive Sector
| Metric | CELH | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 19x | 82% above |
| PE % | 11 | 18 | 7 pts below |
CELH is trading at 35x earnings, a 82% premium to the Consumer Defensive sector's median of 19x.
FIZZ PE vs Consumer Defensive Sector
| Metric | FIZZ | Sector median | Relative |
|---|---|---|---|
| PE | 19x | 19x | Same PE |
| PE % | 67 | 18 | 49 pts above |
FIZZ has the edge over CELH on valuation relative to its sector.
CELH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.1 | 9.4% above |
| 20 week MA | $29.6 | 7.8% above |
| 50 week MA | $36.1 | 12% below |
| 100 week MA | $38.8 | 18% below |
| 200 week MA | $44.6 | 29% below |
CELH has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 29% below its 200-week average.
FIZZ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $33.8 | 7.3% above |
| 20 week MA | $32.7 | 11% above |
| 50 week MA | $33.8 | 7.2% above |
| 100 week MA | $37.7 | 3.7% below |
| 200 week MA | $43.0 | 16% below |
FIZZ has the edge over CELH on trend strength, trading above more of its moving averages.
CELH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $1.58 | $14.7 | +832% |
| 2021 | $14.7 | $24.9 | +69% |
| 2022 | $24.9 | $35.6 | +43% |
| 2023 | $35.6 | $54.5 | +53% |
| 2024 | $54.5 | $26.5 | -51% |
| 2025 | $26.5 | $45.6 | +72% |
| 2026 YTD | $45.6 | $31.9 | -30% |
CELH's yearly returns have swung widely, from +832% in 2020 to −51% in 2024. It's down 30% so far in 2026.
FIZZ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $25.9 | $43.9 | +70% |
| 2021 | $43.9 | $46.6 | +6.1% |
| 2022 | $46.6 | $48.8 | +4.7% |
| 2023 | $48.8 | $49.7 | +1.9% |
| 2024 | $49.7 | $42.9 | -14% |
| 2025 | $42.9 | $32.3 | -25% |
| 2026 YTD | $32.3 | $36.3 | +12% |
FIZZ has the edge over CELH on returns for 2026, with the stronger performance.