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Molson Coors Beverage Co (TAP) stock

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NYSE: TAP NYSE Beverages Next results ~November 5, 2026

Molson Coors Beverage Co 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

Under review: data-quality checks not passed.

Price vs value

Under review: data-quality checks not passed. We'll show the comparison once resolved.

Molson Coors Beverage Co 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.

Value diary

Our note on each quarter Molson Coors Beverage files

Where Molson Coors Beverage Co stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $11.1bn, down 4.2% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin fell to 9.6% from 10.6% a year earlier. Operating margin narrowed to -21.0% from 15.1%. The diluted share count is down 5.1% on a year earlier, which lifts each remaining share. It passes 0 of our 5 financial-health checks.

Our model value for Molson Coors Beverage is under review, so past values are not shown until it is resolved.

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 5, 2026 (estimated)

Molson Coors Beverage Co's trailing-twelve-month revenue fell 4.2% year on year, with a free-cash-flow margin of 9.6%.

Our discounted-cash-flow model values the business at ~$78 per share in the base case (~$50–$120 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Operating margin compressing: TTM operating margin fell to -21.0%, down 36.1pp year over year.

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

  • Shrinking share count. Diluted shares fell 5.1% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 4.2% over the last 12 months.
  • Loss-making. Operating margin is -21.0%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 36.1 points on a year ago.
  • Heavily shorted. 20.7% of the shares available to trade are sold short (4.2 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$1.58 against an average estimate of $1.51: beat by 4.4%
Revenue
$3.10bn, down 3.3% on a year earlier
Share reaction
+3.6% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Guidance given
underlying income (loss) before income taxes growth 15% to 18% (full year 2026); underlying earnings per share growth 11% to 15% (full year 2026)
Next report
November 5, 2026; average EPS estimate $1.45

Molson Coors Beverage's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+7.8%
  • 1 week+8.1%
  • 1 month+17.3%
  • This year-4.2%
  • 1 year+3.3%
  • 5 years+8.9%
  • 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)
$11.1B
Operating margin
-21.0%
Net margin
-19.2%
EPS (TTM, diluted)
$-10.75

Growth

Revenue growth
−4.2%
Change in growth rate
−0.2 pts
Share count change
−5.1%

Cash

Free cash flow (TTM)
$1.1B
FCF margin
9.6%
Stock pay % of revenue
0.3%

Earnings

Last results
August 6, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

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

  1. Results
  2. Guidance
  3. Dividend

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

Molson Coors Beverage Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: data-quality checks not passed.

Our value per share comes from a discounted-cash-flow model of Molson Coors Beverage Co's free cash flow after stock-based pay ( $1.4B, FY2025 Q4 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 multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$70.97$74.78$64.23$45.04$44.84$38.03$39.59$45.29$55.33$53.43$45.13
Market value$13.2bn$16.0bn$13.9bn$9.8bn$9.7bn$8.2bn$8.6bn$9.8bn$12.0bn$11.2bn$9.0bn
+ Net debt (− = net cash)$2.5bn$11.6bn$11.0bn$9.5bn$8.5bn$7.5bn$6.5bn$6.0bn$5.4bn$5.2bn$5.4bn
Enterprise value$15.7bn$27.5bn$24.9bn$19.2bn$18.2bn$15.7bn$15.1bn$15.8bn$17.4bn$16.4bn$14.4bn
Multiples
Price / sales 3.7x3.3x1.3x0.9x0.9x0.9x0.8x0.9x1.0x1.0x0.8x
Price / earnings 33.5x10.0x8.9x8.7x40.2x—8.6x—12.7x10.0x—
Price / free cash flow 30.0x20.3x11.0x5.8x7.5x7.4x8.2x11.7x8.5x9.1x8.4x
EV / EBITDA 17.9x7.4x10.0x7.7x11.2x30.6x6.8x18.7x8.2x6.5x—

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

56 /100

Moderate moat

How hard Molson Coors Beverage'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 5 / 20

    Cash operating profit has been a median 5.2% of total assets over 7 years.

  • Pricing power 12 / 20

    Gross margin has been a median 38.9%, moving by 3.7 percentage points (standard deviation) across 10 years.

  • Durability 3 / 20

    Operating margin has been a median 13.2%; its worst year was -21.0%.

  • Cash conversion 16 / 20

    Free cash flow was positive in 10 of 10 years, at a median 11.6% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 8.2% over five years; stock-based pay has been a median 0.3% 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 5, 2026, before the open. Analysts expect revenue of $2.9bn and EPS of $1.45 (range $1.34 to $1.59) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $4.69 −13% $11.0bn −1%
Next $4.79 +2% $11.0bn 0%

Next year's EPS estimate has moved −3.7% in 90 days, across 20 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.8% on 90 days ago. In the last 30 days, 0 analysts raised Molson Coors Beverage Co's forecast and 5 cut it.

Consensus EPS forecast Molson Coors Beverage Co, last 90 days
$4.60 $4.70 $4.80 $4.90 $5.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.73 Current fiscal year, 60 days ago: $4.75 Current fiscal year, 30 days ago: $4.72 Current fiscal year, 7 days ago: $4.71 Current fiscal year, Now: $4.69 $4.69 Next fiscal year, 90 days ago: $4.97 Next fiscal year, 60 days ago: $4.91 Next fiscal year, 30 days ago: $4.89 Next fiscal year, 7 days ago: $4.83 Next fiscal year, Now: $4.79 $4.79

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.73$4.97
60 days ago $4.75$4.91
30 days ago $4.72$4.89
7 days ago $4.71$4.83
Now $4.69$4.79

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.51 $1.58 +4.4%
Mar 2026 $0.36 $0.62 +70.6%
Dec 2025 $1.15 $1.21 +5.0%
Sept 2025 $1.70 $1.67 −1.5%

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

Management guidance

Earnings release, August 6, 2026
  • Underlying earnings per share full year 2026 11% growth to 15% growth Non-GAAP Maintained
    “Underlying earnings per share: decline in the range of 11% to 15% versus 2025.” source
  • Underlying income (loss) before income taxes full year 2026 15% growth to 18% growth Non-GAAP Maintained
    “Underlying income (loss) before income taxes: decline in the range of 15% to 18% versus 2025 on a constant currency basis.” source
  • Capital expenditures full year 2026 about $650m Maintained
    “Capital expenditures: $650 million incurred, plus or minus 5%.” source
  • Underlying free cash flow full year 2026 about $1.1bn Non-GAAP Maintained
    “Underlying free cash flow: $1.1 billion, plus or minus 10%.” source
  • Underlying depreciation and amortization full year 2026 about $720m Non-GAAP Maintained
    “Underlying depreciation and amortization: $720 million, plus or minus 5%.” source
  • Consolidated net interest expense full year 2026 about $260m Maintained
    “Consolidated net interest expense: $260 million, plus or minus 5%.” source
Show 1 more item
  • Underlying effective tax rate full year 2026 22% to 24% Non-GAAP Maintained
    “Underlying effective tax rate: in the range of 22% to 24%.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Molson Coors Beverage Co's revenue by -4.5% next year and +1.3% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-7.4%, weight 69%) and the company's own record (+2.0%, weight 31%) . How the weights are set.

Analyst recommendations

21 analysts, Oct 2026
Buy629%
Hold1152%
Sell419%

Monthly trend

  1. Oct 20262411321
  2. Sep 20262411321
  3. Aug 20262411321
  4. Jul 20262411321

Counts of recommendations published by analysts covering Molson Coors Beverage Co, 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
20.7%
of tradable shares
Days to cover
4.17
at average volume
Short interest, 1 month
−25%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
12.8%
of shares
Employees
16,200
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

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +3.3%

$41.83 on October 31, 2025 to $43.23

ThenNowEffect
Revenue (last 12 months) $11.3bn $11.1bn −1.3%
P/S multiple 0.8x 0.8x −0.4%
Share count 205m 195m +5.1%

Biggest factor: share count. Loss-making at one end, so the split uses price/sales.

Last 3 years −18.4%

$52.99 on November 3, 2023 to $43.23

ThenNowEffect
Revenue (last 12 months) $11.2bn $11.1bn −0.3%
P/S multiple 1.0x 0.8x −26.4%
Share count 217m 195m +11.2%

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
TAP+4%+14%+22%−3%−16%−4%
Industry peers (median)+13%−6%−4%−13%−37%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
TAP50%67%67%58%42%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
TAP−28%−21%−19%−27%−30%−32%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 68% from October 14, 2016 to September 25, 2020. Getting back needed a 210% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$35.95 – $52.58
From 52-week high
−17.8%
vs 50-day average
+11.0%
vs 200-day average
+3.7%
Volatility (1 year)
30%
Beta vs S&P 500
-0.33

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
7 up, 5 down
typical move ±4.5%
After a week
8 up, 4 down
typical move ±5.0%
After a month
7 up, 5 down
typical move ±8.6%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +3.6% +0.5% +0.6% −2.1%
April 30, 2026 −0.6% +1.3% +1.7% −6.9%
February 18, 2026 −5.0% +0.2% −6.7% −16.1%
November 4, 2025 +4.5% −0.8% +9.1% +5.4%
August 5, 2025 +3.3% +0.3% +5.0% +2.7%
May 8, 2025 −3.9% +0.6% −1.0% −7.5%
February 13, 2025 +12.9% +1.1% +12.9% +11.9%
November 7, 2024 +5.4% +1.2% +11.0% +9.7%
August 6, 2024 +1.9% +0.2% +3.6% +10.1%
April 30, 2024 −10.2% −1.9% −8.3% −16.3%
February 13, 2024 −1.1% −0.5% +0.6% +6.9%
November 2, 2023 +1.4% +2.8% 0.0% +7.7%

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.

Fundamentals

Revenue (TTM) Molson Coors Beverage Co
$10.5B $11B $11.5B $12B FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Revenue (TTM), FY23 Q1: $10.8B Revenue (TTM), FY23 Q2: $11.2B Revenue (TTM), FY23 Q3: $11.5B Revenue (TTM), FY23 Q4: $11.7B Revenue (TTM), FY24 Q1: $12B Revenue (TTM), FY24 Q2: $11.9B Revenue (TTM), FY24 Q3: $11.7B Revenue (TTM), FY24 Q4: $11.6B Revenue (TTM), FY25 Q1: $11.3B Revenue (TTM), FY25 Q2: $11.3B Revenue (TTM), FY25 Q3: $11.2B Revenue (TTM), FY25 Q4: $11.1B $11.1B

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue (TTM)
FY23 Q1 $10.8B
FY23 Q2 $11.2B
FY23 Q3 $11.5B
FY23 Q4 $11.7B
FY24 Q1 $12B
FY24 Q2 $11.9B
FY24 Q3 $11.7B
FY24 Q4 $11.6B
FY25 Q1 $11.3B
FY25 Q2 $11.3B
FY25 Q3 $11.2B
FY25 Q4 $11.1B
Revenue growth, TTM YoY Molson Coors Beverage Co
-10% -5% 0% 5% 10% 15% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Revenue growth, TTM YoY, FY23 Q1: 2.2% Revenue growth, TTM YoY, FY23 Q2: 5.7% Revenue growth, TTM YoY, FY23 Q3: 8.0% Revenue growth, TTM YoY, FY23 Q4: 9.4% Revenue growth, TTM YoY, FY24 Q1: 10.3% Revenue growth, TTM YoY, FY24 Q2: 6.8% Revenue growth, TTM YoY, FY24 Q3: 1.2% Revenue growth, TTM YoY, FY24 Q4: -0.6% Revenue growth, TTM YoY, FY25 Q1: -5.2% Revenue growth, TTM YoY, FY25 Q2: -5.5% Revenue growth, TTM YoY, FY25 Q3: -4.0% Revenue growth, TTM YoY, FY25 Q4: -4.2% -4.2%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q1 2.2%
FY23 Q2 5.7%
FY23 Q3 8.0%
FY23 Q4 9.4%
FY24 Q1 10.3%
FY24 Q2 6.8%
FY24 Q3 1.2%
FY24 Q4 -0.6%
FY25 Q1 -5.2%
FY25 Q2 -5.5%
FY25 Q3 -4.0%
FY25 Q4 -4.2%
Operating margin (TTM) Molson Coors Beverage Co
-30% -20% -10% 0% 10% 20% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 Operating margin (TTM), FY23 Q1: 0.8% Operating margin (TTM), FY23 Q2: 4.2% Operating margin (TTM), FY23 Q3: 6.3% Operating margin (TTM), FY23 Q4: 12.3% Operating margin (TTM), FY24 Q1: 13.3% Operating margin (TTM), FY24 Q2: 14.3% Operating margin (TTM), FY24 Q3: 13.4% Operating margin (TTM), FY24 Q4: 15.1% Operating margin (TTM), FY25 Q1: 14.3% Operating margin (TTM), FY25 Q2: 14.3% Operating margin (TTM), FY25 Q3: -20.3% Operating margin (TTM), FY25 Q4: -21.0% -21.0%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q1 0.8%
FY23 Q2 4.2%
FY23 Q3 6.3%
FY23 Q4 12.3%
FY24 Q1 13.3%
FY24 Q2 14.3%
FY24 Q3 13.4%
FY24 Q4 15.1%
FY25 Q1 14.3%
FY25 Q2 14.3%
FY25 Q3 -20.3%
FY25 Q4 -21.0%
FCF margin (TTM) Molson Coors Beverage Co
8% 9% 10% 11% 12% 13% FY23 Q1 FY23 Q4 FY24 Q3 FY25 Q4 FCF margin (TTM), FY23 Q1: 9.5% FCF margin (TTM), FY23 Q2: 10.0% FCF margin (TTM), FY23 Q3: 11.8% FCF margin (TTM), FY23 Q4: 12.0% FCF margin (TTM), FY24 Q1: 11.7% FCF margin (TTM), FY24 Q2: 11.3% FCF margin (TTM), FY24 Q3: 9.8% FCF margin (TTM), FY24 Q4: 10.6% FCF margin (TTM), FY25 Q1: 9.7% FCF margin (TTM), FY25 Q2: 8.5% FCF margin (TTM), FY25 Q3: 9.8% FCF margin (TTM), FY25 Q4: 9.6% 9.6%

Source: SEC EDGAR filings. Retrieved November 1, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q1 9.5%
FY23 Q2 10.0%
FY23 Q3 11.8%
FY23 Q4 12.0%
FY24 Q1 11.7%
FY24 Q2 11.3%
FY24 Q3 9.8%
FY24 Q4 10.6%
FY25 Q1 9.7%
FY25 Q2 8.5%
FY25 Q3 9.8%
FY25 Q4 9.6%

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

Financial statements

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

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 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
Income
Revenue 3.0 4.7 5.2 5.6 6.0 5.9 3.6 4.9 11.0 10.8 10.6 9.7 10.3 10.7 11.7 11.6 11.1
Gross profit 1.3 1.4 1.5 1.6 1.7 1.7 1.4 1.9 4.8 4.2 4.2 3.8 4.1 3.7 4.4 4.5 4.3
EBITDA 1.0 1.1 1.1 1.1 1.1 1.0 0.9 3.7 2.5 2.5 1.6 0.5 2.2 0.8 2.1 2.5 −1.6
Operating income 0.8 0.9 0.9 0.9 0.8 0.7 0.6 3.3 1.7 1.6 0.8 −0.4 1.5 0.2 1.4 1.8 −2.3
Net income 0.7 0.7 0.7 0.4 0.6 0.5 0.4 1.6 1.6 1.1 0.2 −0.9 1.0 −0.2 0.9 1.1 −2.1
Diluted EPS $3.87 $3.78 $3.63 $2.44 $3.08 $2.76 $2.12 $9.34 $6.53 — — — — −$0.81 $4.37 $5.35 −$10.75
Growth (year on year)
Revenue −36.5% +55.1% +9.9% +8.6% +6.8% −1.2% −39.8% +36.9% +125.2% −2.1% −1.8% −8.7% +6.5% +4.1% +9.4% −0.6% −4.2%
EBITDA +5.0% +10.9% +4.1% +2.7% −1.2% −7.7% −15.2% +320.9% −32.9% −0.0% −34.8% −68.4% +336.7% −62.4% +151.8% +18.5% −164.7%
Operating income +21.2% +14.7% +3.3% −2.9% −7.1% −9.8% −21.9% +485.8% −49.5% −2.7% −53.2% −153.5% — −89.2% — +21.9% −233.3%
Net income +90.2% −1.8% −4.4% −34.5% +28.1% −9.4% −23.1% +303.3% −1.8% −28.7% −78.4% −492.6% — −117.4% — +18.3% −290.6%
Diluted EPS +89.7% −2.3% −4.0% −32.8% +26.2% −10.4% −23.2% +340.6% −30.1% — — — — — — +22.4% −300.9%
Margins
Gross margin 43.1% 30.7% 28.4% 27.9% 27.7% 27.9% 40.2% 38.6% 43.3% 38.9% 39.7% 39.0% 39.4% 34.2% 37.3% 39.0% 38.4%
EBITDA margin 31.7% 22.7% 21.5% 20.3% 18.8% 17.5% 24.7% 76.0% 22.6% 23.1% 15.3% 5.3% 21.8% 7.9% 18.1% 21.6% −14.6%
Operating margin 24.9% 18.4% 17.3% 15.4% 13.4% 12.3% 15.9% 68.0% 15.2% 15.2% 7.2% −4.2% 14.1% 1.5% 12.3% 15.1% −21.0%
Net margin 23.8% 15.0% 13.1% 7.9% 9.5% 8.7% 11.1% 32.6% 14.2% 10.4% 2.3% −9.8% 9.8% −1.6% 8.1% 9.7% −19.2%
Free-cash-flow margin 23.1% 12.2% 12.2% 13.6% 14.6% 17.3% 12.4% 16.1% 11.5% 15.6% 12.3% 11.6% 10.2% 7.9% 12.0% 10.6% 9.6%
Cash flow
Cash from operations 0.9 0.7 0.9 1.0 1.2 1.3 0.7 1.1 1.9 2.3 1.9 1.7 1.6 1.5 2.1 1.9 1.8
Capital spending 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.6 0.7 0.6 0.6 0.5 0.7 0.7 0.7 0.7
Free cash flow 0.7 0.6 0.6 0.8 0.9 1.0 0.4 0.8 1.3 1.7 1.3 1.1 1.1 0.8 1.4 1.2 1.1
Stock-based pay 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Free cash flow after stock pay 0.7 0.5 0.6 0.7 0.9 1.0 0.4 0.8 1.2 1.6 1.3 1.1 1.0 0.8 1.4 1.2 1.0
Balance sheet
Cash 0.7 1.2 1.1 0.6 0.4 0.6 0.4 0.6 0.4 1.1 0.5 0.8 0.6 0.6 0.9 1.0 0.9
Total debt — — 2.0 4.7 3.8 3.2 2.9 12.1 11.4 10.5 9.0 8.2 7.2 6.6 6.2 6.1 6.3
Net debt (negative = net cash) −0.7 −1.2 0.9 4.1 3.4 2.6 2.5 11.6 11.0 9.5 8.5 7.5 6.5 6.0 5.4 5.2 5.4
Diluted shares 186m 187m 186m 182m 184m 186m 186m 213m 217m 217m 217m 217m 218m 217m 217m 210m 199m
Returned to shareholders
Dividends 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.1 0.1 0.3 0.4 0.4 0.4
Buybacks — — — — — — — — — — — 0.0 0.0 0.1 0.2 0.6 0.6
Total returned 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.4 0.4 0.4 0.4 0.1 0.1 0.4 0.6 1.0 1.0

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

0 of 5 checks passed · June 30, 2026
What it owns · $24.4bn
Short-term assets $4.6bnLonger-term assets $19.8bn
What it owes, and who funded it · $24.1bn
Short-term liabilities $5.2bnLonger-term liabilities $8.7bnShareholders' equity $10.1bn
  • Short-term assets cover short-term liabilities $4.6bn of assets due within a year against $5.2bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $4.6bn short-term assets against $8.7bn of longer-dated liabilities.
  • More cash than debt $2.1bn of cash against $7.7bn of debt.
  • Debt below 40% of shareholders' equity Debt is 76% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 50% to 76% over five years.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Molson Coors Beverage Co'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

FY2025 Q4 TTM
Buybacks (TTM)
$648M
Dividends (TTM)
$376M
Returned to shareholders
96%
of free cash flow
Buybacks, last 3 fiscal years
$1.5B
Diluted share count
−5.1%
year over year
Total shareholder yield
12.6%
dividends 4.6% + buybacks 8.0% of market value
Sales & admin spending
23.7%
of revenue
Days sales outstanding
23 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in beverages
Last 12 months unless stated TAP MNST ABEV COKE KDP CCEP Median
Revenue, last 12 months $11.1bn $9.2bn $15.8bn $7.7bn $20.1bn $23.6bn $768m
Revenue growth, last 12 months −4.2% 20.4% −5.2% 10.7% 27.5% 6.9% 6.4%
Revenue growth, 3-year average 1.4% 11.3% — 5.7% 11.3% — 3.3%
Revenue growth, latest quarter −3.3% 20.2% — 10.6% 75.6% — 5.6%
Gross margin 38.4% 55.5% 51.4% 39.1% 49.4% 35.6% 41.0%
Operating margin −21.0% 29.2% 26.4% 13.0% 16.2% 13.4% −1.2%
Operating margin, 3-year average 2.1% 27.8% 28.1% 13.0% 18.7% 11.9% 7.0%
Net margin −19.2% 23.1% 17.6% 7.2% 7.1% 9.3% −1.7%
Cash from operations / revenue 16.0% 24.3% 27.7% 12.3% 12.6% 14.1% 12.3%
Free-cash-flow margin 9.6% 22.8% 22.5% 8.4% 9.8% 9.6% 9.6%
Free-cash-flow margin, 3-year average 10.7% 22.6% 24.9% 7.6% 8.8% 10.6% 9.3%
Stock pay / revenue 0.3% 1.5% 0.5% 0.0% 1.3% 0.2% 1.1%
Change in share count −5.1% 0.5% −0.8% 0.7% 0.1% −1.1% 0.0%

Median of all 27 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.

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue YoY
Americas $8.7B ▼ 5.7%
Europe Middle East Africa and Asia Pacific $2.5B ▲ 1.8%

These categories overlap or exclude eliminations, so shares aren't shown.

From Molson Coors Beverage Co's 10-K filed February 18, 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
$7.3B
Institutions reporting
611
Shares held vs prior quarter
▲ 12.0%
Positions opened / closed
88 / 95

Top buyers and sellers, Q2 2026: 332 institutions bought and 289 sold ; the biggest buyer was AQR Capital Management LLC (+6.4M shares) and the biggest seller Contrarius Group Holdings Ltd (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Dodge & Cox $743M 19.1M 10.2% ▲ 2.9%
Blackrock, Inc. $473M 12.2M 6.5% ▲ 3.9%
AQR Capital Management LLC $433M 11.1M 5.9% ▲ 136.6%
Vanguard Portfolio Management LLC $414M 10.6M 5.7% ▲ 17.4%
Vanguard Capital Management LLC $404M 10.4M 5.5% ▼ 2.5%
Dimensional Fund Advisors LP $344M 8.8M 4.7% ▲ 5.6%
State Street Corp $326M 8.4M 4.5% ▼ 4.3%
Invesco Ltd. $246M 6.3M 3.4% ▲ 21.4%
LSV Asset Management $230M 5.9M 3.1% ▼ 0.2%
Geode Capital Management, LLC $173M 4.5M 2.4% ▼ 2.9%
Goldman Sachs Group Inc $153M 3.9M 2.1% ▲ 55.6%
Morgan Stanley $136M 3.5M 1.9% ▲ 16.1%

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 Molson Coors Beverage Co'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 → $551,125 5 trades by 4 insiders, last 12 months Insider sales History → $52,912 1 trade by 1 insider · 0% under pre-set plans
Net ▲ $498,213 net buying
Insider Date Trade Shares Price Value
Molson Geoffrey E. Director May 21, 2026 Sell 1,245 $42.50 $52,912
Molson Andrew Thomas Director March 9, 2026 Buy 2,000 $46.67 $93,340
Winnefeld James A Jr Director February 20, 2026 Buy 100 $49.01 $4,901
Cocks Christian P Director November 26, 2025 Buy 45 $47.19 $2,124
Molson Andrew Thomas Director November 10, 2025 Buy 7,500 $46.79 $350,925
Coors David S. Director November 5, 2025 Buy 2,245 $44.47 $99,835

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 23 trades and filings

In the last 12 months, 1 member of Congress disclosed 1 purchase and 1 sale of Molson Coors Beverage Co shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Sale (full), $1,001 - $15,000, traded March 13, 2026, filed April 7, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded November 18, 2025, filed December 15, 2025
  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded September 25, 2025, filed October 7, 2025

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 3, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • April 30, 2026
  • February 18, 2026
  • November 4, 2025
  • August 5, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Molson Coors Beverage Co 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.

Molson Coors Beverage Co in brief

What does Molson Coors Beverage Co do?
Molson Coors Beverage Co is a US-listed company in the beverages industry. Its financial year ends in December.
What is Molson Coors Beverage Co's stock ticker?
Molson Coors Beverage Co trades under the ticker TAP on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Molson Coors Beverage Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Molson Coors Beverage Co reported revenue of $11.1B, 4.2% lower than a year earlier, according to its SEC filings.
What is Molson Coors Beverage Co's free cash flow?
Molson Coors Beverage Co's free-cash-flow margin is 9.6% of revenue over the trailing twelve months.
Who are Molson Coors Beverage Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Dodge & Cox, Blackrock, Inc. and AQR Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Molson Coors Beverage Co buying back stock, and does it pay a dividend?
Molson Coors Beverage Co spent $648M on share repurchases over the trailing twelve months, and its diluted share count fell 5.1% over the year.
What is Molson Coors Beverage Co's market cap?
On December 31, 2025, Molson Coors Beverage Co's market capitalisation was about $9B and net debt of $5.4B. Market figures come from third-party market data and may be delayed.
Does Molson Coors Beverage Co pay a dividend?
Yes: Molson Coors Beverage Co paid $376M in dividends over the trailing twelve months, a dividend yield of 4.64%.
How much debt does Molson Coors Beverage Co have?
Molson Coors Beverage Co's debt-to-equity ratio is 76.2%, from its latest balance sheet (49.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Molson Coors Beverage Co's competitors?
In our Beverages peer group, the companies closest to Molson Coors Beverage Co are Monster Beverage, Ambev S.a., Coca-cola Consolidated, Inc., Keurig Dr Pepper and Coca-cola Europacific Partners plc. The side-by-side comparison below sets their revenue, margins and growth against Molson Coors Beverage Co's.
Are insiders buying or selling Molson Coors Beverage Co stock?
Over the last 12 months, Molson Coors Beverage Co's directors and officers reported 5 open-market purchases and 1 sales on Form 4. The insider trading page charts every trade.
When is Molson Coors Beverage Co's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Molson Coors Beverage Co announces its own schedule.