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Celsius Holdings, Inc. (CELH) stock

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NASDAQ: CELH Nasdaq Beverages Next results ~November 9, 2026

C Fundamentals grade

Celsius Holdings, Inc. is a US-listed company in the beverages industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$51

Cash-flow model

Base case. Range ~$38–$67 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 70% above it.

Price used: $29.96, November 2, 2026

Celsius Holdings, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders4 buying, 1 selling9 purchases and 1 sale by directors and officers, last 12 monthsInsider trades
  • Funds286 adding, 312 cuttingOf 75 active managers that changed their stake, 31 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Celsius Holdings files

Where Celsius stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $3.05bn, up 82.9% on a year earlier, slower than 123.3% a quarter earlier. That growth ranks 23 of 931 among all the companies we cover. Free-cash-flow margin rose to 15.2% from 12.7% a year earlier. Operating margin narrowed to 5.3% from 10.4%. The diluted share count is up 6.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks. Our cash-flow model value is $49.75 a share, against a share price of $29.91. At that price, our model says the market is pricing in about 4.0% a year of cash-flow growth for five years, slower than the 57.5% a year revenue growth it has delivered.

Source: 10-Q filed August 6, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 9, 2026 (estimated)

Celsius Holdings, Inc.'s trailing-twelve-month revenue grew 82.9% year on year, with a free-cash-flow margin of 15.2%. Where it stands out: revenue growth of 82.9% ranks 3 of 26 beverages companies we cover. Where it lags: change in growth rate of -40.5pp ranks 25 of 26 beverages companies we cover.

Our discounted-cash-flow model values the business at ~$51 per share in the base case (~$38–$67 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 119.5% while net income fell 2.0%: a 121pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $29.96 is 70% below our value per share of $51.
  • Fast growth. Revenue grew 82.9% over the last 12 months, against a median of 6.9% for beverages companies we cover.

Things to watch

  • Results due soon. Results are expected around 6 November; the share price can move sharply on the day.
  • Growth slowing. The growth rate is 40.5 points lower than a quarter earlier.
  • Margins narrowing. Operating margin is down 5.1 points on a year ago.
  • Share dilution. Diluted shares rose 6.9% in a year.
  • High earnings multiple. The shares trade at 60 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 62% and a beta of 0.9 against the S&P 500.

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.36 against an average estimate of $0.42: missed by 13.9%
Revenue
$818m, up 10.6% on a year earlier
Share reaction
-4.7% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 9, 2026; average EPS estimate $0.34

Celsius Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+2.9%
  • 1 week+6.4%
  • 1 month+12.0%
  • This year-34.5%
  • 1 year-50.3%
  • 5 years-14.3%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$3B
Operating margin
5.3%
Net margin
4.2%
EPS (TTM, diluted)
$0.50

Growth

Revenue growth
+82.9%
Change in growth rate
−40.5 pts
Share count change
+6.9%

Cash

Free cash flow (TTM)
$463M
FCF margin
15.2%
Stock pay % of revenue
1.1%

Earnings

Last results
August 6, 2026
Next results (est.)
November 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Announcement
  2. Announcement
  3. Leadership
  4. Results
  5. Announcement
  6. Agreement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Celsius Holdings, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 2.4% a year of cash-flow growth for five years.That is slower than the 57.5% a year revenue growth Celsius Holdings has delivered.

  • Priced in2.4%
  • Last 12 months82.9%
  • 3 years a year47.4%
  • 5 years a year57.5%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($29.36, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$51
Price used
$29.36close November 3, 2026
Implied change
▲ +73%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Celsius Holdings, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($443M, FY2026 Q2 TTM), growing 9.8% and 11.3% in the next two years (forecasts, guidance and its record), then back to 13% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$38–~$67 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Celsius Holdings, Inc.'s free cash flow after stock-based pay ( $443M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Celsius Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.74 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$51 ~$38–$67 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$18 ~$13–$23 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$27 ~$24–$41 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$22 ~$15–$33 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$16 ~$13–$20 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$31 ~$16–$51 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Celsius Holdings, Inc. with Beverages in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −24%
  • Revenue growth 5 points higher ▲ +30%
  • Free-cash-flow margin 1 point lower ▼ −6%
  • Last year's free-cash-flow margin change, if it persists ▲ +18%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $25$34$46$62$82$109
8.5% $19$26$34$45$60$79
10% $15$21$27$36$47$61

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$0.65$0.82$1.75$1.16$1.61$16.77$24.86$34.68$54.52$26.34$45.74$29.96
Market value$64m$94m$233m$174m$310m$3.7bn$5.8bn$7.9bn$12.9bn$6.3bn$11.7bn$7.8bn
+ Net debt (− = net cash)−$10m−$12m−$14m−$3m−$10m−$43m−$16m−$614m−$756m−$890m$299m$64m
Enterprise value$54m$83m$219m$170m$300m$3.7bn$5.8bn$7.3bn$12.2bn$5.4bn$12.0bn$7.8bn
Multiples
Price / sales 3.7x4.2x6.4x3.3x4.1x28.6x18.4x12.0x9.8x4.6x4.6x2.6x
Price / earnings ————31.1xn/mn/m—57.0x43.1x108.0x60.3x
Price / free cash flow ————n/mn/m—78.8x104.4x26.1x36.1x16.8x
EV / EBITDA —————n/m——45.1x32.9x70.1x42.3x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

27 /100

Weak moat

How hard Celsius Holdings's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Net income has been a median 2.9% of total assets over 10 years.

  • Pricing power 13 / 20

    Gross margin has been a median 44.1%, moving by 3.8 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 2.9%; its worst year was -31.2%.

  • Cash conversion 6 / 20

    Free cash flow was positive in 5 of 9 years, at a median 0.9% of revenue.

  • Discipline 6 / 20

    The diluted share count rose 56.9% over five years; stock-based pay has been a median 5.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 9, 2026, before the open. Analysts expect revenue of $801m and EPS of $0.34 (range $0.30 to $0.42) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.42 +6% $3.2bn +26%
Next $1.70 +20% $3.4bn +9%

Next year's EPS estimate has moved −14.3% in 90 days, across 22 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −11.9% on 90 days ago. In the last 30 days, 0 analysts raised Celsius Holdings, Inc.'s forecast and 4 cut it.

Consensus EPS forecast Celsius Holdings, Inc., last 90 days
$1.40 $1.60 $1.80 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.61 Current fiscal year, 60 days ago: $1.44 Current fiscal year, 30 days ago: $1.43 Current fiscal year, 7 days ago: $1.42 Current fiscal year, Now: $1.42 $1.42 Next fiscal year, 90 days ago: $1.98 Next fiscal year, 60 days ago: $1.75 Next fiscal year, 30 days ago: $1.73 Next fiscal year, 7 days ago: $1.71 Next fiscal year, Now: $1.70 $1.70

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.61$1.98
60 days ago $1.44$1.75
30 days ago $1.43$1.73
7 days ago $1.42$1.71
Now $1.42$1.70

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.42 $0.36 −13.9%
Mar 2026 $0.29 $0.41 +40.0%
Dec 2025 $0.19 $0.26 +36.9%
Sept 2025 $0.28 $0.42 +52.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026

No numeric guidance in Celsius Holdings, Inc.'s latest earnings release (filed August 6, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Celsius Holdings, Inc.'s revenue by +9.8% next year and +11.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.5%, weight 70%) and the company's own record (+13.0%, weight 30%) . How the weights are set.

Analyst recommendations

24 analysts, Oct 2026
Buy1875%
Hold625%
Sell00%

Monthly trend

  1. Oct 2026612624
  2. Sep 2026612624
  3. Aug 2026512724
  4. Jul 2026713323

Counts of recommendations published by analysts covering Celsius Holdings, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
12.1%
of tradable shares
Days to cover
4.84
at average volume
Short interest, 1 month
−2%
to October 15, 2026
Held by institutions
75%
of shares
Held by insiders
28.9%
of shares
Employees
1,497
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −50.3%

$60.23 on October 31, 2025 to $29.96

ThenNowEffect
Revenue (last 12 months) $1.7bn $3.0bn +82.9%
Net margin 7.9% 4.2% −46.4%
P/E multiple 111.1x 60.3x −45.7%
Share count 243m 260m −6.5%

Biggest factor: net margin.

Last 3 years −48.5%

$58.18 on November 3, 2023 to $29.96

ThenNowEffect
Revenue (last 12 months) $952m $3.0bn +220.1%
P/S multiple 14.3x 2.6x −82.1%
Share count 234m 260m −9.9%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CELH+48%+40%+57%−52%+74%−35%
Industry peers (median)+11%−6%−4%−11%−37%−2%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CELH75%50%50%25%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CELH−42%−46%−28%−73%−42%−58%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 78% from March 13, 2024 to February 12, 2025. Getting back needed a 352% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$23.77 – $59.92
From 52-week high
−50.0%
vs 50-day average
+3.1%
vs 200-day average
−12.9%
Volatility (1 year)
62%
Beta vs S&P 500
0.95

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±10.4%
After a week
4 up, 8 down
typical move ±14.8%
After a month
5 up, 7 down
typical move ±19.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −4.7% +0.5% −1.3% +5.2%
May 7, 2026 −1.6% +0.5% −11.6% −14.6%
February 26, 2026 +5.9% −1.0% −13.7% −32.9%
November 6, 2025 −30.7% −1.0% −26.6% −26.1%
August 7, 2025 +21.5% +0.7% +32.6% +30.2%
May 6, 2025 +5.6% −0.4% +11.9% +18.3%
February 20, 2025 +25.0% −2.1% −0.4% +26.2%
November 6, 2024 −5.4% +3.3% −14.8% −11.2%
August 6, 2024 −4.7% +0.2% −4.5% −22.5%
May 7, 2024 −1.5% +0.1% +16.9% −5.4%
February 29, 2024 +17.0% +1.3% +32.2% +21.8%
November 7, 2023 +1.3% +0.4% −11.4% −13.6%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Celsius Holdings, Inc.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.47× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Celsius Holdings, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Celsius Holdings, Inc.
$1B $1.5B $2B $2.5B $3B $3.5B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $1.1B Revenue (TTM), FY23 Q4: $1.3B Revenue (TTM), FY24 Q1: $1.4B Revenue (TTM), FY24 Q2: $1.5B Revenue (TTM), FY24 Q3: $1.4B Revenue (TTM), FY24 Q4: $1.4B Revenue (TTM), FY25 Q1: $1.3B Revenue (TTM), FY25 Q2: $1.7B Revenue (TTM), FY25 Q3: $2.1B Revenue (TTM), FY25 Q4: $2.5B Revenue (TTM), FY26 Q1: $3B Revenue (TTM), FY26 Q2: $3B $3B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $1.1B
FY23 Q4 $1.3B
FY24 Q1 $1.4B
FY24 Q2 $1.5B
FY24 Q3 $1.4B
FY24 Q4 $1.4B
FY25 Q1 $1.3B
FY25 Q2 $1.7B
FY25 Q3 $2.1B
FY25 Q4 $2.5B
FY26 Q1 $3B
FY26 Q2 $3B
Revenue growth, TTM YoY Celsius Holdings, Inc.
-50% 0% 50% 100% 150% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 98.1% Revenue growth, TTM YoY, FY23 Q4: 101.7% Revenue growth, TTM YoY, FY24 Q1: 81.2% Revenue growth, TTM YoY, FY24 Q2: 56.5% Revenue growth, TTM YoY, FY24 Q3: 19.4% Revenue growth, TTM YoY, FY24 Q4: 2.9% Revenue growth, TTM YoY, FY25 Q1: -6.0% Revenue growth, TTM YoY, FY25 Q2: 11.9% Revenue growth, TTM YoY, FY25 Q3: 55.1% Revenue growth, TTM YoY, FY25 Q4: 85.5% Revenue growth, TTM YoY, FY26 Q1: 123.3% Revenue growth, TTM YoY, FY26 Q2: 82.9% 82.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 98.1%
FY23 Q4 101.7%
FY24 Q1 81.2%
FY24 Q2 56.5%
FY24 Q3 19.4%
FY24 Q4 2.9%
FY25 Q1 -6.0%
FY25 Q2 11.9%
FY25 Q3 55.1%
FY25 Q4 85.5%
FY26 Q1 123.3%
FY26 Q2 82.9%
Operating margin (TTM) Celsius Holdings, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 15.2% Operating margin (TTM), FY23 Q4: 20.2% Operating margin (TTM), FY24 Q1: 21.5% Operating margin (TTM), FY24 Q2: 22.4% Operating margin (TTM), FY24 Q3: 17.0% Operating margin (TTM), FY24 Q4: 11.5% Operating margin (TTM), FY25 Q1: 9.4% Operating margin (TTM), FY25 Q2: 10.4% Operating margin (TTM), FY25 Q3: 4.5% Operating margin (TTM), FY25 Q4: 5.6% Operating margin (TTM), FY26 Q1: 7.7% Operating margin (TTM), FY26 Q2: 5.3% 5.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 15.2%
FY23 Q4 20.2%
FY24 Q1 21.5%
FY24 Q2 22.4%
FY24 Q3 17.0%
FY24 Q4 11.5%
FY25 Q1 9.4%
FY25 Q2 10.4%
FY25 Q3 4.5%
FY25 Q4 5.6%
FY26 Q1 7.7%
FY26 Q2 5.3%
FCF margin (TTM) Celsius Holdings, Inc.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 4.9% FCF margin (TTM), FY23 Q4: 9.4% FCF margin (TTM), FY24 Q1: 19.1% FCF margin (TTM), FY24 Q2: 16.5% FCF margin (TTM), FY24 Q3: 12.4% FCF margin (TTM), FY24 Q4: 17.7% FCF margin (TTM), FY25 Q1: 15.5% FCF margin (TTM), FY25 Q2: 12.7% FCF margin (TTM), FY25 Q3: 24.6% FCF margin (TTM), FY25 Q4: 12.9% FCF margin (TTM), FY26 Q1: 9.9% FCF margin (TTM), FY26 Q2: 15.2% 15.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 4.9%
FY23 Q4 9.4%
FY24 Q1 19.1%
FY24 Q2 16.5%
FY24 Q3 12.4%
FY24 Q4 17.7%
FY25 Q1 15.5%
FY25 Q2 12.7%
FY25 Q3 24.6%
FY25 Q4 12.9%
FY26 Q1 9.9%
FY26 Q2 15.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Celsius Holdings took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $2.5B
  2. Cost of revenue $1.2B · 49.6%
  3. Gross profit $1.3B · 50.4%
  4. Selling, general and admin $799M · 31.8%
  5. Other operating costs $325M · 12.9%
  6. Operating income $141M · 5.6%
  7. Income tax $17M · 0.7%
  8. Interest and other $16M · 0.6%
  9. Net income $108M · 4.3%

Shares of revenue. Source: Celsius Holdings's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 17 23 36 53 75 131 314 654 1,318 1,356 2,515 3,047
Gross profit 7 10 15 21 31 61 128 271 633 680 1,267 1,486
EBITDA −2 −3 −8 −11 −1 8 −3 −156 270 163 171 186
Operating income −2 −3 −8 −11 −1 8 −4 −158 266 156 141 160
Net income −2 −3 −8 −11 10 9 4 −187 227 145 108 129
Diluted EPS −$0.03 −$0.03 −$0.06 −$0.08 $0.05 $0.04 $0.02 −$0.88 $0.77 $0.45 $0.25 $0.50
Growth (year on year)
Revenue — +32.2% +58.9% +45.5% +42.9% +74.0% +140.4% +108.0% +101.7% +2.9% +85.5% +82.9%
EBITDA — — — — — — −135.2% — — −39.5% +4.6% +1.3%
Operating income — — — — — — −151.7% — — −41.5% −9.4% −7.5%
Net income — — — — — −14.5% −53.8% — — −36.0% −25.6% −2.0%
Diluted EPS — — — — — −31.3% −45.5% — — −41.6% −44.4% −8.3%
Margins
Gross margin 40.9% 42.7% 42.7% 40.0% 41.7% 46.6% 40.8% 41.4% 48.0% 50.2% 50.4% 48.8%
EBITDA margin −10.4% −12.4% −22.3% −20.1% −1.8% 6.1% −0.9% −23.8% 20.5% 12.0% 6.8% 6.1%
Operating margin −10.6% −12.5% −22.3% −20.2% −1.9% 6.1% −1.3% −24.1% 20.2% 11.5% 5.6% 5.3%
Net margin −12.5% −13.5% −22.8% −21.3% 13.3% 6.5% 1.3% −28.7% 17.2% 10.7% 4.3% 4.2%
Free-cash-flow margin −4.4% −10.5% −23.4% −22.3% 1.3% 2.2% −31.7% 15.3% 9.4% 17.7% 12.9% 15.2%
Cash flow
Cash from operations −1 −2 −8 −12 1 3 −97 108 141 263 359 509
Capital spending 0 0 0 0 0 1 3 8 17 23 36 46
Free cash flow −1 −2 −8 −12 1 3 −100 100 124 240 323 463
Stock-based pay 1 2 2 4 5 6 36 21 21 20 28 35
Free cash flow after stock pay −2 −4 −11 −16 −4 −4 −136 79 103 220 295 428
Balance sheet
Cash 10 12 14 8 23 43 16 614 756 890 399 631
Total debt 0 0 0 4 13 0 0 0 0 0 698 695
Net debt (negative = net cash) −10 −12 −14 −3 −10 −43 −16 −614 −756 −890 299 64
Diluted shares 100m 116m 133m 150m 193m 223m 233m 227m 237m 237m 255m 260m
Returned to shareholders
Buybacks — — — — — — — 0 0 2 6 13
Total returned — — — — — — — 0 0 2 6 13

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $5.2bn
Short-term assets $1.9bnLonger-term assets $3.3bn
What it owes, and who funded it · $3.4bn
Short-term liabilities $1.0bnLonger-term liabilities $1.2bnShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $1.9bn of assets due within a year against $1.0bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.9bn short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt $631m of cash against $675m of debt.
  • Debt below 40% of shareholders' equity Debt is 56% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $509m of operating cash flow against $675m of debt.
  • Operating profit covers interest at least five times over Operating income of $160m against $54m of interest.

From Celsius Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$12.7M
Returned to shareholders
3%
of free cash flow
Buybacks, last 3 fiscal years
$8M
Diluted share count
+6.9%
year over year
Total shareholder yield
0.2%
dividends 0.0% + buybacks 0.2% of market value
Sales & admin spending
30.0%
of revenue
Days sales outstanding
88 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in beverages
Last 12 months unless stated CELH SAM WEST COKE FIZZ MNST Median
Revenue, last 12 months $3.0bn $1.9bn $1.3bn $7.7bn $1.2bn $9.2bn $723m
Revenue growth, last 12 months 82.9% −3.7% 38.6% 10.7% −1.8% 20.4% 6.6%
Revenue growth, 3-year average 47.4% −2.6% 13.8% 5.7% 0.0% 11.3% 4.3%
Revenue growth, latest quarter 10.6% −3.2% 8.8% 10.6% 0.0% 20.2% 6.4%
Gross margin 48.8% 49.1% 12.5% 39.1% 36.2% 55.5% 42.6%
Operating margin 5.3% −5.1% −1.2% 13.0% 18.4% 29.2% −0.9%
Operating margin, 3-year average 12.7% 2.1% −3.7% 13.0% 19.0% 27.8% 11.9%
Net margin 4.2% −3.8% −4.9% 7.2% 14.8% 23.1% −1.6%
Cash from operations / revenue 16.7% 12.3% 1.9% 12.3% 15.8% 24.3% 9.9%
Free-cash-flow margin 15.2% 9.7% −1.2% 8.4% 13.7% 22.8% 9.0%
Free-cash-flow margin, 3-year average 14.8% 9.7% −15.8% 7.6% 13.7% 22.6% 8.8%
Stock pay / revenue 1.1% 1.2% 0.7% 0.0% 0.0% 1.5% 1.2%
Change in share count 6.9% −6.6% 4.1% 0.7% −0.0% 0.5% 0.0%

Median of all 26 companies we cover in beverages. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

26 beverages companies
Measure Company Peer median Rank
Revenue growth Growth 82.9% 6.9% 3 of 26
Change in growth rate Growth -40.5pp +0.6pp 25 of 26
Gross margin Profitability 48.8% 44.2% 11 of 26
Operating margin Profitability 5.3% -0.7% 12 of 26
Net margin Profitability 4.2% -1.5% 12 of 26
Free-cash-flow margin Cash generation 15.2% 9.6% 7 of 24
Stock pay as % of revenue Cash generation 1.1% 1.2% 11 of 23
Long-term debt as % of assets Balance sheet 12.9% 12.9% 10 of 18
Change in share count Balance sheet 6.9% 0.0% 15 of 19
Days sales outstanding Balance sheet 88 days 33 days 19 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue Share YoY
North America $2.4B 96.3% ▲ 89.1%
Europe $72.5M 2.9% ▲ 17.6%
Asia Pacific $13M 0.5% ▲ 129.3%
Other $7.3M 0.3% ▼ 1.6%

From Celsius Holdings, Inc.'s 10-K filed March 2, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$4.9B
Institutions reporting
536
Shares held vs prior quarter
▲ 5.1%
Positions opened / closed
96 / 132

Top buyers and sellers, Q2 2026: 286 institutions bought and 312 sold ; the biggest buyer was Sachem Head Capital Management LP (+9.1M shares) and the biggest seller Alliancebernstein L.P (−11.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $539M 18.4M 10.9% ▲ 15.5%
Alliancebernstein L.P. $297M 8.4M 6.0% ▼ 57.8%
Sachem Head Capital Management LP $266M 9.1M 5.4% New
Vanguard Portfolio Management LLC $263M 9.0M 5.3% ▲ 1.7%
Vanguard Capital Management LLC $242M 8.3M 4.9% ▲ 0.4%
Morgan Stanley $223M 7.6M 4.5% ▲ 172.0%
FMR LLC $194M 6.6M 3.9% ▲ 5.8%
Norges Bank $182M 6.2M 3.7% —
Westfield Capital Management Co LP $156M 5.3M 3.2% ▲ 41.3%
State Street Corp $154M 5.3M 3.1% ▲ 4.5%
AQR Capital Management LLC $104M 3.6M 2.1% ▲ 1033.5%
Geode Capital Management, LLC $104M 3.6M 2.1% ▼ 0.9%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Celsius Holdings, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $3.2M 9 trades by 4 insiders, last 12 months Insider sales History → $147,773 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $3.1M net buying
Insider Date Trade Shares Price Value
Desantis Damon Director September 15, 2026 Buy 16,000 $27.95 $447,200
Kravitz Hal Director September 15, 2026 Buy 12,000 $28.00 $336,000
Desantis Damon Director September 14, 2026 Buy 20,000 $27.65 $553,000
Fieldly John Chief Executive Officer September 10, 2026 Buy 18,000 $27.44 $493,920
Fieldly John Chief Executive Officer May 22, 2026 Buy 8,475 $29.36 $248,826
Kravitz Hal Director May 22, 2026 Buy 8,400 $29.73 $249,732
Hanson Eric President & COO May 21, 2026 Buy 7,500 $29.04 $217,800
Russell Joyce Director March 2, 2026 Sell 2,880 $51.31 $147,773
Kravitz Hal Director November 13, 2025 Buy 10,000 $45.24 $452,400
Hanson Eric President & COO November 12, 2025 Buy 4,558 $43.93 $200,233

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 6 trades and filings

No trades in Celsius Holdings, Inc. disclosed in the last 12 months; 6 earlier trades on record.

  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded January 13, 2025, filed February 13, 2025
  • Josh Gottheimer(D-NJ 5):Sale (full), $1,001 - $15,000, traded September 16, 2024, filed October 3, 2024
  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded December 4, 2023, filed January 7, 2024

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 6, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 6, 2025

Recent SEC filings

Data status

When each part of this page on Celsius Holdings, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Celsius Holdings, Inc. in brief

What does Celsius Holdings, Inc. do?
Celsius Holdings, Inc. is a US-listed company in the beverages industry. Its financial year ends in December.
What is Celsius Holdings, Inc.'s stock ticker?
Celsius Holdings, Inc. trades under the ticker CELH on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Celsius Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Celsius Holdings, Inc. reported revenue of $3B, 82.9% higher than a year earlier, according to its SEC filings.
What is Celsius Holdings, Inc.'s free cash flow?
Celsius Holdings, Inc.'s free-cash-flow margin is 15.2% of revenue over the trailing twelve months, ranking 7 of the 24 beverages companies we cover.
What is Celsius Holdings, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Celsius Holdings, Inc.'s free cash flow after stock-based pay gives ~$51 per share in the base case, and ~$38–$67 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Celsius Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Alliancebernstein L.P. and Sachem Head Capital Management LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Celsius Holdings, Inc. buying back stock, and does it pay a dividend?
Celsius Holdings, Inc. spent $12.7M on share repurchases over the trailing twelve months, and its diluted share count still rose 6.9% over the year.
What is Celsius Holdings, Inc.'s market cap?
On November 2, 2026, Celsius Holdings, Inc.'s market capitalisation was about $7.8B, with a price-to-earnings ratio of 60.3 and net debt of $63.5M. Market figures come from third-party market data and may be delayed.
How much debt does Celsius Holdings, Inc. have?
Celsius Holdings, Inc.'s debt-to-equity ratio is 56.3%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Celsius Holdings, Inc.'s competitors?
In our Beverages peer group, the companies closest to Celsius Holdings, Inc. are Boston Beer Co Inc, Westrock Coffee Co, Coca-cola Consolidated, Inc., National Beverage Corp and Monster Beverage. The side-by-side comparison below sets their revenue, margins and growth against Celsius Holdings, Inc.'s.
Are insiders buying or selling Celsius Holdings, Inc. stock?
Over the last 12 months, Celsius Holdings, Inc.'s directors and officers reported 9 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Celsius Holdings, Inc.'s next earnings date?
Around November 9, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Celsius Holdings, Inc. announces its own schedule.