CELH
Celsius Holdings, Inc.
CELH offers stronger fundamentals, but that advantage does not outweigh its weaker overall profile.
HSY
The Hershey Company
HSY has the edge over CELH overall, supported by lower modeled downside and stronger modeled upside.
CELH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Strong |
CELH's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
HSY Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Strong | |
| Strong | |
| Healthy |
HSY'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.
HSY PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 19x | $173 | — |
| Current | 20x | $173 | — |
| Cheap | 21x | $181 | +4.7% |
| Fair | 26x | $229 | +32% |
| Expensive | 30x | $264 | +53% |
Historical ranges are pointers, not guarantees.
HSY 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 HSY on the outlook, with more favorable valuation expectations.
HSY Forward outlook
| Metric | Outlook |
|---|---|
| Stable | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Moderate |
Analysts expect earnings and revenue growth for HSY, with profitability improving.
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 earned $0.90 per share over the past year, about eight times what it earned the year before.
HSY Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $9.27 | +4.9% |
| Q3 2026 | $8.84 | +32% |
| Q2 2026 | $7.32 | -3% |
| Q1 2026 | $5.37 | -34% |
| Q4 2025 | $4.34 | -60% |
| Q3 2025 | $6.71 | -23% |
| Q2 2025 | $7.55 | -16% |
| Q1 2025 | $8.13 | -20% |
| Q4 2024 | $10.92 | +21% |
HSY has the edge over CELH on earnings, with stronger typical year-over-year growth.
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's revenue has grown year over year for six quarters in a row: $847M last quarter, up 17% from the same quarter a year ago.
| 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's operating margin was 20% last quarter, up 31 points from the same quarter a year ago.
HSY Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.3B | +3% |
| Q2 2026 | $2.8B | +6.6% |
| Q1 2026 | $3.1B | +11% |
| Q4 2025 | $3.1B | +7% |
| Q3 2025 | $3.2B | +6.5% |
| Q2 2025 | $2.6B | +26% |
| Q1 2025 | $2.8B | -14% |
| Q4 2024 | $2.9B | +8.7% |
HSY's revenue has grown year over year for six quarters in a row: $3.3B last quarter, up 3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 25% | +12 points |
| Q2 2026 | 23% | +16 points |
| Q1 2026 | 21% | +7.5 points |
| Q4 2025 | 14% | -18 points |
| Q3 2025 | 13% | -7.6 points |
| Q2 2025 | 7.4% | -6.5 points |
| Q1 2025 | 13% | -19 points |
| Q4 2024 | 33% | +15 points |
HSY has the edge over CELH on profitability, with a higher operating margin.
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.
HSY Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $955.1M | -17% |
| Q2 2026 | $329.5M | +$376M |
| Q1 2026 | $354.2M | +41% |
| Q4 2025 | $788.5M | -2.3% |
| Q3 2025 | $1.1B | +102% |
| Q2 2025 | -$46.5M | -124% |
| Q1 2025 | $251.2M | -29% |
| Q4 2024 | $807.1M | +51% |
HSY generated $2.4B in free cash flow over the past year, up 12% from the year before.
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 HSY 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.
HSY Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -1.3% | -2.6M shares |
| 1 year | -0.9% | -1.8M shares |
| 3 years | -1.8% | -3.8M shares |
| 5 years | -2.8% | -5.7M shares |
| Available history | -3.4% | -7.1M shares |
HSY has 202M diluted shares, down 0.9% from a year ago, with $439M in buybacks over the past year.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $370.1M |
| Q1 2026 | $69.3M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | — |
HSY spent $439M buying back its own shares over the past year, after none the year before.
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 the edge over HSY on leverage, with a lower net debt burden relative to earnings.
HSY Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 1.5x | Healthy |
| Q2 2026 | 1.8x | Healthy |
| Q1 2026 | 2.0x | Moderate |
| Q4 2025 | 2.3x | Moderate |
| Q3 2025 | 1.9x | Healthy |
| Q2 2025 | 2.0x | Healthy |
| Q1 2025 | 1.8x | Healthy |
| Q4 2024 | 1.3x | Healthy |
HSY's net debt is about 1.5 years of its operating earnings (EBITDA), down from 1.9 years a year ago.
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).
HSY Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.4 | Neutral |
| Stochastic | 47.1 | Neutral |
HSY's weekly RSI is 47 (neutral) and its Stochastic is 47 (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.
HSY PE vs Consumer Defensive Sector
| Metric | HSY | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 19x | 0.6% above |
| PE % | 9 | 18 | 9 pts below |
HSY 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 the edge over HSY on trend strength, trading above more of its moving averages.
HSY Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $168.3 | 2.9% above |
| 20 week MA | $173.6 | 0.2% below |
| 50 week MA | $187.9 | 7.8% below |
| 100 week MA | $180.2 | 3.8% below |
| 200 week MA | $194.6 | 11% below |
HSY has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 11% below its 200-week average.
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.
HSY Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $147.6 | $150.0 | +1.6% |
| 2021 | $150.0 | $188.5 | +26% |
| 2022 | $188.5 | $235.9 | +25% |
| 2023 | $235.9 | $186.4 | -21% |
| 2024 | $186.4 | $171.8 | -7.9% |
| 2025 | $171.8 | $184.2 | +7.2% |
| 2026 YTD | $184.2 | $173.3 | -5.9% |
HSY has the edge over CELH on returns for 2026, with the stronger performance.