CELH
Celsius Holdings, Inc.
CELH has the edge over TAP overall, supported by stronger modeled upside and stronger fundamentals.
TAP
Molson Coors Beverage Company
TAP offers stronger valuation, but that advantage does not outweigh its weaker overall profile.
CELH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Strong |
CELH's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
TAP Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Healthy | |
| Stable |
TAP's profitability and cash flow are currently healthy, and its revenue and balance sheet are 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.
TAP PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Current | 8.2x | $39.56 | — |
| Forward | 9.4x | $39.56 | — |
| Cheap | 10x | $49.02 | +24% |
| Fair | 14x | $66.55 | +68% |
| Expensive | 52x | $247 | +525% |
Historical ranges are pointers, not guarantees.
TAP 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 TAP on the outlook, with more favorable valuation and earnings expectations.
TAP Forward outlook
| Metric | Outlook |
|---|---|
| Deteriorating | |
| Decline | |
| Stable | |
| Weakening | |
| Limited | |
| Low |
Analysts expect TAP's earnings and profitability to decline, with its revenue holding steady. However, they disagree widely on these estimates.
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.
TAP Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $4.21 | -12% |
| Q3 2026 | $4.80 | +$15.48 |
| Q2 2026 | -$11.44 | -326% |
| Q1 2026 | -$10.54 | -312% |
| Q4 2025 | -$10.75 | -301% |
| Q3 2025 | -$10.68 | -340% |
| Q2 2025 | $5.07 | -7.3% |
| Q1 2025 | $4.97 | -0.8% |
| Q4 2024 | $5.35 | +22% |
TAP has returned to profit: it earned $4.80 per share over the past year, after losing money 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 TAP 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 TAP on profitability, with a higher operating margin.
TAP Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $3.4B | -2.3% |
| Q2 2026 | $3.6B | -3.6% |
| Q1 2026 | $2.7B | +1% |
| Q4 2025 | $3.1B | -3.6% |
| Q3 2025 | $3.5B | -3.3% |
| Q2 2025 | $3.7B | -2.6% |
| Q1 2025 | $2.7B | -12% |
| Q4 2024 | $3.2B | -2.7% |
TAP's revenue has held roughly level: $3.4B last quarter, down 2.3% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 11% | +110 points |
| Q2 2026 | 9.2% | -6.4 points |
| Q1 2026 | 9.5% | +2.6 points |
| Q4 2025 | 10% | -1.6 points |
| Q3 2025 | -98% | -111 points |
| Q2 2025 | 16% | 0 points |
| Q1 2025 | 6.9% | -3.4 points |
| Q4 2024 | 12% | +6 points |
TAP's operating margin was 11% last quarter, up 110 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.
TAP Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $326.2M | -32% |
| Q2 2026 | $714.4M | +29% |
| Q1 2026 | -$229.2M | +$98.8M |
| Q4 2025 | $357.8M | -6.7% |
| Q3 2025 | $483M | +38% |
| Q2 2025 | $555M | -20% |
| Q1 2025 | -$328M | -$138.7M |
| Q4 2024 | $383.4M | +29% |
TAP generated $1.2B in free cash flow over the past year, up 6.9% 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 255M diluted shares, down 1.1% from a year ago.
| 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.
TAP Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.5% | -900K shares |
| 1 year | -5.6% | -11.1M shares |
| 3 years | -14% | -30.8M shares |
| 5 years | -14% | -30.8M shares |
| Available history | -14% | -30.1M shares |
TAP has the edge over CELH on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | $43.9M |
| Q2 2026 | $42.5M |
| Q1 2026 | $168.5M |
| Q4 2025 | $315.1M |
| Q3 2025 | $26M |
| Q2 2025 | $247.2M |
| Q1 2025 | $59.6M |
| Q4 2024 | $206M |
TAP spent $570M buying back its own shares over the past year, up 5.8% from 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 TAP on leverage, with a lower net debt burden relative to earnings.
TAP Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 2.6x | Moderate |
| Q2 2025 | 2.4x | Moderate |
| Q1 2025 | 2.4x | Moderate |
| Q4 2024 | 2.1x | Moderate |
| Q3 2024 | 2.3x | Moderate |
| Q2 2024 | 2.3x | Moderate |
| Q1 2024 | 2.5x | Moderate |
| Q4 2023 | 2.5x | Moderate |
TAP's net debt is about 2.6 years of its operating earnings (EBITDA), up from 2.3 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).
TAP Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 46.4 | Neutral |
| Stochastic | 50.4 | Neutral |
TAP's weekly RSI is 46 (neutral) and its Stochastic is 50 (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.
TAP PE vs Consumer Defensive Sector
| Metric | TAP | Sector median | Relative |
|---|---|---|---|
| PE | 8.2x | 19x | 58% below |
| PE % | 0 | 18 | 18 pts below |
TAP 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 TAP on trend strength, trading above more of its moving averages.
TAP Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $38.8 | 1.9% above |
| 20 week MA | $40.0 | 1.2% below |
| 50 week MA | $43.1 | 8.1% below |
| 100 week MA | $47.9 | 17% below |
| 200 week MA | $53.5 | 26% below |
TAP has bounced recently, but its long-term trend is still down: it's above its 8-week average, but 26% 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.
TAP Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $53.8 | $45.5 | -16% |
| 2021 | $45.5 | $45.6 | +0.3% |
| 2022 | $45.6 | $51.9 | +14% |
| 2023 | $51.9 | $61.2 | +18% |
| 2024 | $61.2 | $57.8 | -5.5% |
| 2025 | $57.8 | $46.4 | -20% |
| 2026 YTD | $46.4 | $39.6 | -15% |
TAP has the edge over CELH on returns for 2026, with the stronger performance.