One-glance verdict
Within fair range
$55.36 our estimate vs market $30.66
Wall Street consensus: $42.29 (-23.6% lower than our fair-value estimate)
45% below our estimate
Fundamentals snapshot
Celsius Holdings, Inc.
CELH · NCM · Consumer Defensive · Beverages - Non-Alcoholic
Current price
$30.66
52-week range
$23.56 - $66.74
Market cap
$7.76B
Balance sheet
Healthy
9.57x Adequate
Net debt $43.62M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
1 Risk
3 rewards · 1 risks
- Reward Revenue grew 21.2% last year.
- Reward Returns 5.1% on equity, ahead of 33% of its peers.
- Reward Free cash flow was positive in 6/10 years.
- Risk Stock trades 28.1% above its 5-year average P/E.
What this company does
Celsius Holdings, Inc.
Celsius Holdings sells popular energy drinks and powders, marketing them as a healthier, fitness-focused alternative to traditional options. The company's revenue (the total money it brings in from sales) comes from selling these drinks through a wide network of stores, from supermarkets to gyms, especially in North America. This rapid growth matters because it shows the company is successfully appealing to the growing number of consumers who want healthier energy products.
How the company got here
Founded in 2004, Celsius started with a unique idea: a 'fitness drink' that aimed to burn calories. For years, it was a small, niche product. A major turning point came in 2022 when PepsiCo invested $550 million and became its main distributor, rocketing Celsius drinks onto shelves in stores everywhere. This partnership transformed Celsius from a small player into a major competitor in the energy drink market, leading to explosive growth.
What it actually does
Celsius sells a variety of fitness and energy drinks that it markets as a healthier alternative to traditional sugary energy drinks. Their main products are ready-to-drink cans found in coolers at supermarkets, convenience stores, and gyms. They also offer powdered, on-the-go drink mixes. The core appeal is a zero-sugar, vitamin-enriched formula designed to provide energy for an active lifestyle.
North America
This is the company's largest and most important business area, making up the vast majority of its sales. It involves selling their drinks, like the main CELSIUS line, through a massive network of retailers across the United States and Canada. The partnership with PepsiCo is crucial here, as it gets the products into countless convenience stores, grocery stores, and big-box retailers where most customers buy them.
International
This is a smaller but rapidly growing part of the company. Celsius is actively expanding into new countries in Europe, the Asia-Pacific region, and beyond. They work with local partners to distribute their drinks and build brand awareness outside of North America. While it's currently a small slice of the business, international sales are a key focus for future growth.
What management is betting on now
The company's main focus is on expanding its reach both in North America and internationally. They are leveraging the PepsiCo partnership to get their drinks into more stores and coolers, increasing their shelf space. Another key strategy is growing through acquisitions, like their recent purchase of the Alani Nu brand, to capture a wider range of customers within the 'better-for-you' energy drink space. They are also focused on launching new products and flavors to keep customers interested and attract new ones.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$8.69M
FY2024 Q4
$70.27M
FY2025 Q1
$96.42M
FY2025 Q2
$35.46M
FY2025 Q3
$321.46M
FY2025 Q4
$-129.97M
FY2026 Q1
$65.81M
FY2026 Q2
$205.48M
Revenue
$817.92M
Net income
$55.29M
Diluted EPS
0.14
Operating cash flow
$222.54M
Free cash flow
$205.48M
Fetching…
Sources
Revenue
$782.62M
Net income
$110.10M
Diluted EPS
0.33
Operating cash flow
$73.72M
Free cash flow
$65.81M
Fetching…
Sources
Revenue
$721.63M
Net income
$24.74M
Diluted EPS
0.04
Operating cash flow
$-119.44M
Free cash flow
$-129.97M
Fetching…
Sources
Revenue
$725.11M
Net income
$-61.01M
Diluted EPS
-0.27
Operating cash flow
$331.80M
Free cash flow
$321.46M
Fetching…
Sources
Revenue
$739.26M
Net income
$99.86M
Diluted EPS
0.33
Operating cash flow
$43.71M
Free cash flow
$35.46M
Fetching…
Sources
Revenue
$329.28M
Net income
$44.42M
Diluted EPS
0.15
Operating cash flow
$103.37M
Free cash flow
$96.42M
Fetching…
Sources
Revenue
$332.20M
Net income
$-18.88M
Diluted EPS
-0.10
Operating cash flow
$75.67M
Free cash flow
$70.27M
Fetching…
Sources
Revenue
$265.75M
Net income
$6.36M
Diluted EPS
0.00
Operating cash flow
$12.93M
Free cash flow
$8.69M
Fetching…
Sources
Is it cheap or expensive?
Fair value $55.36 vs current price $30.66
Wall Street consensus is the average analyst price target: $42.29 (-23.6% lower than our fair-value estimate).
Our most-likely fair value is $55.36 a share — about 80.6% away from today's price of $30.66, so the stock currently looks fairly priced.
Is it drowning in debt?
Healthy
Net debt $43.6M. Interest coverage 9.6x.
Net debt
$43.62M
Interest coverage
9.57x
Celsius Holdings, Inc.'s profit covers its interest bill about 9.6 times over. which is stronger than most peers shown here.
Healthy
Worse cushion
Baseline
Better cushion
CELH
BASELINE
Celsius Holdings, Inc.
Total debt $674.85M Interest coverage 9.57x This is the baseline the peer rows are being compared against.
Total debt $92.93M Interest coverage 38.30x +300% vs CELH Carries about 4.0x more debt cushion than CELH.
Total debt $33.53B Interest coverage 4.84x -49% vs CELH Carries about 2.0x less debt cushion than CELH.
Total debt $58.94M Interest coverage 21.71x +127% vs CELH Carries about 2.3x more debt cushion than CELH.
Total debt $5.70B Interest coverage 1.94x -80% vs CELH Carries about 4.9x less debt cushion than CELH.
What you should know
The case for and against CELH
3 Rewards
1 Risk
Rewards
-
Revenue grew 21.2% last year.
-
Returns 5.1% on equity, ahead of 33% of its peers.
-
Free cash flow was positive in 6/10 years.
Risks
-
Stock trades 28.1% above its 5-year average P/E.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
133.30x
Forward P/E
17.56x
P/B
6.48x
P/S
2.55x
EV/EBITDA
14.23x
PEG ratio
0.28x
Profitability
How much profit each dollar creates
Gross margin
48.8%
Operating margin
19.1%
Net margin
4.2%
ROE
5.1%
ROA
8.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.23x
Current ratio
1.80x
Quick ratio
1.31x
Total debt
$674.85M
Total cash
$631.23M
Growth
How the business has been compounding
Revenue TTM
$3.05B
Revenue 5Y CAGR
68.2%
EPS TTM
0.23
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$508.63M
Free CF TTM
$323.38M
FCF margin
10.6%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—