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Friday 6 November 2026
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Celsius Holdings Inc.
CELH Consumer Defensive Beverages Non Alcoholic
Celsius Holdings Inc.’s revenue for fiscal 2025 (year ended December 2025) was $2.5 billion, up 85.5% from fiscal 2024.
- Revenue
- +16.8%
- EPS
- +244.4%
- Free cash flow
- −60.3%
- Total debt
- −22.6%
Quarter to September 2026, against a year earlier
30.33
0.42
−1.37%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 23 | 36 | 53 | 75 | 131 | 314 | 654 | 1,318 | 1,356 | 2,515 | 3,169 | +68.7% | 3,170 | 3,440 | 3,711 | +13.8% | |
| Gross margin, % | 42.75 | 42.67 | 40.04 | 41.65 | 46.64 | 40.78 | 41.44 | 48.04 | 50.18 | 50.39 | 47.64 | +7.6 pt | ||||||
| EBT | (3) | (8) | (11) | 10 | 9 | (4) | (153) | 292 | 195 | 125 | 393 | n/m | ||||||
| EBT margin, % | (13.48) | (22.79) | (21.30) | 13.27 | 6.61 | (1.29) | (23.36) | 22.14 | 14.39 | 4.97 | 12.39 | +18.5 pt | ||||||
| Net income | (3) | (8) | (11) | 10 | 9 | 4 | (187) | 227 | 145 | 108 | 317 | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.20 | 0.27 | 0.35 | 0.41 | 0.62 | 1.42 | 2.88 | 5.71 | 5.80 | 9.97 | 12.54 | +54.7% | |||||
| Earnings | (0.03) | (0.06) | (0.08) | 0.05 | 0.04 | 0.02 | (0.88) | 0.79 | 0.46 | 0.25 | 0.90 | n/m | ||||||
| Cash flow | (0.02) | (0.06) | (0.08) | 0.01 | 0.02 | (0.44) | 0.48 | 0.61 | 1.13 | 1.42 | 1.31 | n/m | ||||||
| Capex | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (0.01) | (0.04) | (0.08) | (0.10) | (0.14) | (0.24) | +107.6% | ||||||
| Free cash flow | (0.02) | (0.06) | (0.08) | 0.01 | 0.01 | (0.45) | 0.44 | 0.54 | 1.03 | 1.28 | 1.06 | n/m | ||||||
| Book value | 0.09 | 0.13 | 0.08 | 0.35 | 0.50 | 0.98 | 0.18 | 1.14 | 1.71 | 4.68 | 5.05 | +54.3% | ||||||
| Shares, m | 116 | 133 | 150 | 182 | 211 | 221 | 227 | 231 | 234 | 252 | 254 | +9.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 28.40 | 426.72 | 1,358.47 | 0.00 | 75.04 | 56.04 | 182.96 | 33.70 | 212.8 | |||||
| P/S | 4.68 | 6.19 | 3.31 | 3.91 | 27.01 | 17.51 | 11.63 | 10.34 | 4.54 | 4.59 | 2.42 | 9.4 | ||||||
| P/B | 9.77 | 13.06 | 14.76 | 4.62 | 33.85 | 25.35 | 189.58 | 51.60 | 15.39 | 9.77 | 6.01 | 36.8 | ||||||
| EV/Sales | 4.36 | 5.90 | 3.32 | 3.60 | 26.68 | 17.46 | 10.63 | 9.76 | 3.88 | 4.64 | 2.41 | 9.0 | ||||||
| EV/FCF | (41.57) | (25.18) | (14.83) | 288.07 | 1,236.56 | (55.01) | 69.53 | 103.95 | 21.98 | 36.09 | 28.37 | 162.0 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (2) | (8) | (12) | 1 | 3 | (97) | 108 | 141 | 263 | 359 | 331 | n/m | |||||
| Capex | 0 | 0 | 0 | 0 | (1) | (3) | (8) | (17) | (23) | (36) | (62) | +126.4% | ||||||
| Free cash flow | (2) | (8) | (12) | 1 | 3 | (100) | 100 | 124 | 240 | 323 | 269 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 15 | 21 | 20 | 25 | 67 | 169 | 757 | 928 | 959 | 732 | 929 | +53.6% | |||||
| Net debt | (7) | (11) | 0 | (23) | (43) | (16) | (653) | (756) | (890) | 130 | (701) | n/m | ||||||
| Shareholders’ equity | 11 | 17 | 12 | 63 | 104 | 217 | 40 | 264 | 400 | 1,181 | 1,275 | +68.3% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (20.82) | (38.40) | (36.99) | 15.95 | 7.69 | 1.77 | (25.88) | 13.20 | 6.51 | 1.85 | 4.42 | +22.7 pt | |||||
| ROIC | (48.75) | (78.16) | (55.33) | (2.24) | 8.09 | (1.27) | 0.00 | 0.00 | 0.00 | 6.72 | 44.84 | +55.5 pt | ||||||
| ROE | (34.97) | (61.38) | (78.89) | 26.50 | 10.16 | 2.45 | (154.63) | 119.68 | 32.37 | 8.07 | 18.57 | +43.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 39 | 39 | 50 | 120 | 154 | 225 | 378 | 765 | 1,073 | 1,497 | — | +50.0% | |||||
| Revenue/emp, $m | 0.58 | 0.93 | 1.05 | 0.63 | 0.85 | 1.40 | 1.73 | 1.72 | 1.26 | 1.68 | — | +12.5% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Reportable Segment | 2,515 | 100.00% |
|---|---|---|
| Gross margin | 50.39% | |
| Operating margin | 5.61% | |
| Pre-tax margin | 4.97% |
Celsius Holdings Inc. vs peers in Beverages Non Alcoholic (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| CCEP Coca-Cola Europacific Partners | $51.5B | 16.0× | 23.3× | +36.01% (above 0%: growing) | +209.23% (above 0%: growing) | −33.36% (below 0%: shrinking) | 35.80% | 0.00% | Compare |
| KDP Keurig Dr Pepper, Inc | $50.2B | 30.8× | 23.5× | +70.55% (above 0%: growing) | +42.78% (above 0%: growing) | +91.29% (above 0%: growing) | 48.00% | 18.15% | Compare |
| COKE Coca-Cola Consolidated, Inc. | $14.1B | 28.1× | — (loss-making) | +5.36% (above 0%: growing) | +11.16% (above 0%: growing) | −34.73% (below 0%: shrinking) | 38.78% | 13.65% | Compare |
| CELH Celsius Holdings Inc. | $7.6B | 33.7× | 24.4× | +16.84% (above 0%: growing) | n/m | −60.28% (below 0%: shrinking) | 46.77% | 20.31% | |
| KOF Coca Cola Femsa S.A.B. de C.V. | $6.0B | 16.4× | 17.2× | +19.57% (above 0%: growing) | +20.01% (above 0%: growing) | −24.76% (below 0%: shrinking) | 46.52% | 14.89% | Compare |
| COCO Vita Coco Company, Inc. | $3.6B | 30.2× | 28.5× | +33.74% (above 0%: growing) | +45.24% (above 0%: growing) | +54.92% (above 0%: growing) | 38.01% | 18.64% | Compare |
| FIZZ National Beverage Corp. | $3.5B | 19.8× | 19.4× | +0.04% (above 0%: growing) | −16.67% (below 0%: shrinking) | +10.33% (above 0%: growing) | 35.02% | 17.69% | Compare |
| AKO.B Embotelladora Andina S.A. | $2.2B | 13.9× | — | +11.10% (above 0%: growing) | +4.00% (above 0%: growing) | +930.72% (above 0%: growing) | 38.92% | 10.52% | Compare |
| AKO.A Embotelladora Andina S.A. | $2.0B | 12.1× | — | +23.23% (above 0%: growing) | +12.74% (above 0%: growing) | +930.72% (above 0%: growing) | 38.39% | 11.21% | Compare |
| Median of peers | $4.8B | 18.1× | 23.3× | +21.40% | +16.38% | +32.63% | 38.59% | 14.27% |
From the latest earnings call
- CEO John Fieldly said Alani Nu’s tracked-channel retail sales grew approximately 58% in the third quarter, while CELSIUS brand sales fell approximately 7%.
- CFO Jarrod Langhans said shipments shifted from the fourth quarter into the third, and expects fourth-quarter reported revenue growth below the first three quarters’ pace.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
65.78%
Held by the ten largest
35.21%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 18.56m | 7.33% | +201.13k |
| BlackRock | 18.42m | 7.27% | +2.47m |
| Sachem Head Capital Management LP | 9.09m | 3.59% | +9.09m |
| AllianceBernstein | 8.36m | 3.30% | −11.43m |
| Morgan Stanley | 7.62m | 3.01% | +4.82m |
| Fidelity (FMR) | 6.62m | 2.61% | +360.37k |
| Norges Bank | 6.21m | 2.45% | +6.21m |
| WESTFIELD CAPITAL MANAGEMENT CO LP | 5.32m | 2.10% | +1.56m |
| State Street | 5.25m | 2.07% | +227.42k |
| UBS | 3.76m | 1.48% | +1.17m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 14 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 9.59m | 14.78m | 273.00 |
| 2024 | 5.90m | 1.04m | 157.00 |
| 2023 | 3.26m | 11.75m | 325.00 |
| 2022 | 3.58m | 6.07m | 207.00 |
| 2021 | 12.21m | 33.41m | 148.00 |
Ownership
Directors and executive officers, together
2.33%
Chau Hoi Shuen Solina Holly Suites PT.
8.97%
Alani Holdings, LLC
8.74%
Max Clemons
8.74%
Trey Steiger
8.74%
Deborah DeSantis
7.62%
Dean DeSantis
7.58%
AllianceBernstein L.P.
6.27%
William H. Milmoe
6.00%
BlackRock, Inc.
5.64%
CD Financial, LLC
5.40%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Celsius Holdings Inc. (CELH) Latest News
5 Nov
29 Oct
22 Oct
21 Oct
19 Oct
6 Oct
CELH metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Celsius Holdings is an energy drink and wellness beverage company operating in the United States and internationally. Its principal brands are CELSIUS, Alani Nu and Rockstar. John Fieldly is chairman and chief executive officer.
The company sells ready-to-drink caffeinated beverages, mostly in cans, as well as single-serve powders that consumers mix with water. Some products are sugar-free or low-calorie; formulations include ingredients such as caffeine, vitamins, electrolytes and botanical extracts. Its range also includes hydration powders, protein and nutrition products, amino blends and other supplements.