CELH
Celsius Holdings, Inc.
CELH has the edge over NGVC overall, supported by stronger fundamentals and stronger valuation.
NGVC
Natural Grocers by Vitamin Cottage, Inc.
NGVC has slightly 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.
NGVC Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Under pressure | |
| Strong |
NGVC's profitability and balance sheet are currently healthy, and its revenue is stable, but its cash flow is under pressure.
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 has the edge over NGVC in the historical PE scenario, which offers more potential upside but is not a forecast.
NGVC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $28.09 | -3.8% |
| Current | 14x | $29.19 | — |
| Fair | 16x | $32.02 | +9.7% |
| Expensive | 22x | $44.48 | +52% |
Historical ranges are pointers, not guarantees.
NGVC's PE is in its cheap range at 14x.
CELH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CELH, with profitability improving. However, they disagree widely on these estimates.
NGVC Forward outlook
There aren't enough analyst estimates for NGVC to show an outlook.
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.
NGVC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q2 2026 | $2.06 | +10% |
| Q1 2026 | $2.08 | +18% |
| Q4 2025 | $2.06 | +32% |
| Q3 2025 | $2.00 | +36% |
| Q2 2025 | $1.87 | +39% |
| Q1 2025 | $1.77 | +40% |
| Q4 2024 | $1.56 | +33% |
| Q3 2024 | $1.47 | +44% |
NGVC has the edge over CELH on earnings, with more consistent year-over-year improvement.
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 has the edge over NGVC on profitability, with a higher operating margin.
NGVC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $334.7M | +1.8% |
| Q1 2026 | $337.4M | +0.5% |
| Q4 2025 | $335.6M | +1.6% |
| Q3 2025 | $336.1M | +4.2% |
| Q2 2025 | $328.7M | +6.3% |
| Q1 2025 | $335.8M | +9% |
| Q4 2024 | $330.2M | +9.4% |
| Q3 2024 | $322.7M | +9.3% |
NGVC's revenue has grown year over year for 20 quarters in a row: $335M last quarter, up 1.8% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 4.5% | -0.3 points |
| Q1 2026 | 5.4% | +0.1 points |
| Q4 2025 | 4.4% | +0.3 points |
| Q3 2025 | 4.6% | +0.9 points |
| Q2 2025 | 4.7% | +0.6 points |
| Q1 2025 | 5.2% | +1.6 points |
| Q4 2024 | 4% | +0.5 points |
| Q3 2024 | 3.7% | +1.1 points |
NGVC's operating margin was 4.5% last quarter, about level with 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.
NGVC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | $1.3M | +$5.4M |
| Q1 2026 | $2.3M | -92% |
| Q4 2025 | $11.6M | +$18.5M |
| Q3 2025 | $7.6M | -58% |
| Q2 2025 | -$4.2M | -215% |
| Q1 2025 | $27.6M | +183% |
| Q4 2024 | -$6.9M | -242% |
| Q3 2024 | $18M | +19% |
NGVC still generates free cash flow, though less than at its 2020 peak: $23M over the past year.
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 NGVC 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.
NGVC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +48.3K shares |
| 1 year | -0.2% | -48.5K shares |
| 3 years | +1.6% | +375K shares |
| 5 years | +2.4% | +552K shares |
| Available history | +3.1% | +709K shares |
NGVC has 23M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2024 | — |
| Q2 2024 | — |
| Q3 2023 | — |
| Q2 2023 | $95,000 |
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.
NGVC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | -0.2x | Net Cash |
| Q1 2026 | -0.2x | Net Cash |
| Q4 2025 | -0.2x | Net Cash |
| Q3 2025 | -0.2x | Net Cash |
| Q2 2025 | -0.2x | Net Cash |
| Q1 2025 | -0.2x | Net Cash |
| Q4 2024 | 0.0x | Very low |
| Q3 2024 | -0.1x | Net Cash |
NGVC 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).
NGVC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 48.7 | Neutral |
| Stochastic | 39.4 | Neutral |
NGVC's weekly RSI is 49 (neutral) and its Stochastic is 39 (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.
NGVC PE vs Consumer Defensive Sector
| Metric | NGVC | Sector median | Relative |
|---|---|---|---|
| PE | 14x | 19x | 27% below |
| PE % | 24 | 18 | 6 pts above |
NGVC 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.
NGVC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $29.8 | 2.1% below |
| 20 week MA | $29.9 | 2.4% below |
| 50 week MA | $28.2 | 3.4% above |
| 100 week MA | $34.6 | 16% below |
| 200 week MA | $26.2 | 11% above |
NGVC's trend is mixed: it's above two of its five weekly moving averages, and 11% above 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.
NGVC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $10.1 | $13.3 | +32% |
| 2021 | $13.3 | $14.3 | +7.4% |
| 2022 | $14.3 | $9.08 | -36% |
| 2023 | $9.08 | $16.0 | +76% |
| 2024 | $16.0 | $39.3 | +146% |
| 2025 | $39.3 | $25.8 | -34% |
| 2026 YTD | $25.8 | $29.2 | +13% |
NGVC has the edge over CELH on returns for 2026, with the stronger performance.