CELH
Celsius Holdings, Inc.
CELH has the edge over TPB overall, supported by stronger valuation and stronger modeled upside.
TPB
Turning Point Brands, Inc.
TPB trails on the overall score without a compensating advantage in the available component scores.
CELH Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Stable | |
| Strong |
CELH's revenue, profitability and balance sheet are currently healthy, and its cash flow is stable.
TPB Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Stable | |
| Under pressure | |
| Stable |
TPB's revenue is currently healthy, and its profitability and balance sheet are 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 TPB in the historical PE scenario, which offers more potential upside but is not a forecast.
TPB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 14x | $18.52 | -67% |
| Fair | 28x | $37.85 | -32% |
| Forward | 33x | $55.75 | — |
| Current | 41x | $55.75 | — |
| Expensive | 45x | $61.28 | +9.9% |
Historical ranges are pointers, not guarantees.
TPB's PE is in its expensive range at 41x. On analysts' estimates for next year's earnings, today's price would be 33x, in its fair range.
CELH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
CELH has the edge over TPB on the outlook, with more favorable earnings and profitability expectations.
TPB Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Stable | |
| Strong growth | |
| Strongly weakening | |
| Limited | |
| Moderate |
Analysts expect TPB's revenue to grow, but its profitability to weaken.
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.
TPB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.68 | +23% |
| Q3 2026 | $1.37 | -52% |
| Q2 2026 | $2.31 | -3.3% |
| Q1 2026 | $2.92 | +28% |
| Q4 2025 | $3.11 | +47% |
| Q3 2025 | $2.84 | +13% |
| Q2 2025 | $2.39 | -1.2% |
| Q1 2025 | $2.28 | +0.4% |
| Q4 2024 | $2.12 | +3.4% |
TPB 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 TPB on profitability, with a higher operating margin.
TPB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $151.1M | +27% |
| Q2 2026 | $143M | +23% |
| Q1 2026 | $124.3M | +17% |
| Q4 2025 | $121M | +29% |
| Q3 2025 | $119M | +13% |
| Q2 2025 | $116.6M | +7.5% |
| Q1 2025 | $106.4M | +9.7% |
| Q4 2024 | $93.7M | -3.6% |
TPB's revenue has grown year over year for seven quarters in a row: $151M last quarter, up 27% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 6.5% | -15 points |
| Q2 2026 | 12% | -11 points |
| Q1 2026 | 10% | -12 points |
| Q4 2025 | 16% | -2.6 points |
| Q3 2025 | 22% | +2.3 points |
| Q2 2025 | 23% | +1.6 points |
| Q1 2025 | 22% | +1.9 points |
| Q4 2024 | 19% | -5.6 points |
TPB's operating margin was 6.5% last quarter, down 15 points from the same quarter a year ago, near the bottom of its range since 2019.
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 has the edge over TPB on cash flow, with more consistent year-over-year improvement.
TPB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $3.5M | +$4.2M |
| Q2 2026 | $26.2M | +235% |
| Q1 2026 | -$27.4M | -280% |
| Q4 2025 | $21.5M | +29% |
| Q3 2025 | -$721K | -106% |
| Q2 2025 | $7.8M | -28% |
| Q1 2025 | $15.2M | -32% |
| Q4 2024 | $16.6M | -34% |
TPB still generates free cash flow, though less than at its 2026 peak: $24M 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 TPB 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.
TPB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.6% | +118K shares |
| 1 year | +8.4% | +1.6M shares |
| 3 years | +0.9% | +180K shares |
| 5 years | -9.3% | -2.1M shares |
| Available history | +1.2% | +241K shares |
TPB has 20M diluted shares, up 8.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q4 2025 | — |
| Q3 2025 | — |
| Q2 2025 | — |
| Q1 2025 | — |
| Q4 2024 | $881,000 |
| Q3 2024 | $1.1M |
| Q2 2024 | $972,000 |
| Q1 2024 | $2.1M |
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.
TPB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2024 | 2.3x | Moderate |
| Q2 2024 | 2.4x | Moderate |
| Q1 2024 | 2.6x | Moderate |
| Q4 2023 | 2.8x | Moderate |
| Q3 2023 | 3.2x | Elevated |
| Q2 2023 | 3.4x | Elevated |
| Q1 2023 | 3.6x | Elevated |
| Q4 2022 | 3.7x | Elevated |
TPB's net debt is about 2.3 years of its operating earnings (EBITDA), down from 3.2 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).
TPB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.2 | Neutral |
| Stochastic | 23.3 | Neutral |
TPB's weekly RSI is 34 (neutral) and its Stochastic is 23 (neutral).
CELH PE vs Consumer Defensive Sector
| Metric | CELH | Sector median | Relative |
|---|---|---|---|
| PE | 35x | 19x | 82% above |
| PE % | 11 | 18 | 7 pts below |
CELH has the edge over TPB on valuation relative to its sector.
TPB PE vs Consumer Defensive Sector
| Metric | TPB | Sector median | Relative |
|---|---|---|---|
| PE | 41x | 19x | 109% above |
| PE % | 76 | 18 | 58 pts above |
TPB is trading at 41x earnings, a 109% premium to the Consumer Defensive sector's median of 19x.
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 TPB on trend strength, trading above more of its moving averages.
TPB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $61.3 | 9.1% below |
| 20 week MA | $72.7 | 23% below |
| 50 week MA | $88.7 | 37% below |
| 100 week MA | $82.8 | 33% below |
| 200 week MA | $56.2 | 0.9% below |
TPB is in a downtrend: it's below all five of its weekly moving averages, and 0.9% 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 has the edge over TPB on returns for 2026, with the stronger performance.
TPB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $27.6 | $47.0 | +70% |
| 2021 | $47.0 | $36.6 | -22% |
| 2022 | $36.6 | $20.1 | -45% |
| 2023 | $20.1 | $26.3 | +31% |
| 2024 | $26.3 | $59.8 | +127% |
| 2025 | $59.8 | $106.3 | +78% |
| 2026 YTD | $106.3 | $55.8 | -48% |
TPB's yearly returns have swung widely, from +127% in 2024 to −45% in 2022. It's down 48% so far in 2026.