Molson Coors Beverage Co key statistics and ratios

In fiscal 2025, Molson Coors Beverage Co had return on equity of -18.3%, an operating margin of -21.0%, debt equal to 61.6% of equity and a current ratio of 0.55. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Molson Coors Beverage Co: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
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%
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%
Return on equity	10.2%	9.5%	8.8%	5.7%	6.8%	6.2%	5.3%	17.3%	12.8%	8.4%	1.8%	−7.4%	7.8%	−1.3%	7.3%	8.5%	−18.3%
Return on assets	6.0%	5.7%	5.4%	3.1%	3.6%	3.5%	3.0%	7.7%	5.3%	3.7%	0.8%	−3.4%	3.7%	−0.7%	3.6%	4.3%	−8.8%
Asset turnover	0.25	0.38	0.41	0.39	0.38	0.40	0.27	0.23	0.37	0.36	0.36	0.34	0.37	0.40	0.45	0.44	0.46
Current ratio	1.08	1.67	1.66	0.67	0.71	0.68	1.03	0.69	0.64	0.64	0.59	0.62	0.77	0.78	0.70	0.94	0.55
Debt to equity	24.2%	25.1%	26.1%	58.7%	44.2%	40.4%	41.7%	106.3%	87.7%	78.0%	67.3%	66.5%	53.4%	51.7%	47.2%	46.9%	61.6%
Interest cover (operating income ÷ interest)	7.8x	7.8x	7.5x	4.4x	4.4x	5.0x	4.7x	12.2x	4.8x	5.3x	2.7x	n/m	5.6x	0.6x	6.1x	6.2x	n/m
Effective tax rate	−2.0%	17.1%	12.8%	26.1%	12.8%	11.8%	13.5%	47.6%	−14.8%	16.6%	48.7%	—	18.6%	—	23.6%	23.0%	—
SG&A as % of revenue	29.7%	21.5%	19.7%	20.1%	19.9%	19.6%	29.1%	32.7%	27.7%	26.0%	25.8%	25.2%	24.8%	24.5%	23.8%	23.4%	23.7%
Capital spending as % of revenue	5.2%	3.8%	4.6%	4.0%	4.9%	4.4%	7.7%	7.0%	5.4%	6.1%	5.6%	6.0%	5.1%	6.2%	5.7%	5.8%	6.4%
Free cash flow ÷ net income	97.1%	80.8%	93.6%	171.9%	154.1%	200.1%	111.6%	49.3%	80.9%	150.4%	539.3%	—	104.5%	—	148.3%	110.1%	—
Dividends ÷ net income	23.7%	28.4%	33.7%	52.4%	41.4%	53.2%	76.8%	22.1%	22.6%	31.7%	175.6%	—	14.7%	—	37.4%	32.9%	—
Dividends and buybacks ÷ free cash flow	24.4%	35.2%	36.1%	30.5%	26.8%	26.6%	68.8%	44.9%	27.9%	21.1%	32.6%	11.2%	14.1%	45.3%	39.8%	81.9%	95.9%

US$ thousands unless shown otherwise. Fiscal quarters.

Molson Coors Beverage Co: financial ratios, quarterly
Quarter	2024 Q2Jun 2024	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q2Jun 2026
Gross margin	40.9%	39.5%	37.9%	36.9%	40.0%	39.5%	36.4%	34.3%
Operating margin	18.4%	14.8%	14.2%	8.1%	18.2%	−115.4%	12.2%	10.7%
Net margin	13.1%	6.6%	10.5%	5.3%	13.4%	−98.5%	9.0%	7.5%
Free-cash-flow margin	21.3%	11.5%	14.0%	−14.2%	17.3%	16.2%	13.4%	—
Current ratio	0.95	0.99	0.94	0.89	0.95	0.60	0.55	0.88
Debt to equity	53.5%	46.8%	46.9%	47.7%	47.0%	60.9%	61.6%	76.2%
SG&A as % of revenue	22.4%	22.5%	23.7%	28.3%	21.7%	23.1%	22.9%	23.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

Compare with peers

Head to head: MNST vs TAP ABEV vs TAP COKE vs TAP

More: Beverages stocks compared, Consumer Staples sector, rankings of US companies

Figures from Molson Coors Beverage Co's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Molson Coors Beverage Co.