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Molson Coors Beverage Company

TAP Consumer Defensive Beverages Brewers

Molson Coors Beverage Company’s revenue for fiscal 2025 (year ended December 2025) was $11.1 billion, down 4.18% from fiscal 2024.

Revenue
−1.58%
EPS
+109.9%
Free cash flow
−31.4%
Total debt
−4.71%

Quarter to September 2026, against a year earlier

42.12 1.02 −2.36%
Market cap
$7.9B
P/E
8.9×
Fwd P/E
8.8×
Dividend yield
4.53%
F-score
5/9
Altman Z
0.83
Beneish M
−3.39
Dividend safety
43/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Bought, $m 0.10
Sold, $m 0.05
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 1 — — — — — — — —
Sell — — — — — 1 — — — — — —
Insider Ownership 19.69%

Capital & Financial Ratios $m

Size
Market Cap 7,890.00
Revenue ttm 11,036.50
Net income ttm 846.20
Free cash flow ttm 1,192.40
Net debt Q 5,393.60
Valuation
P/E 8.92
Forward P/E 8.75
Price / sales 0.71
Forward P/S Powerpack
Price / FCF 6.59
Price / book 0.75
Financial health
Current ratio Q 0.86 (below 1: weak)
Debt / equity Q 0.57
Interest coverage Q 5.49
Growth
Revenue growth Q −1.58% (below 0%: shrinking)
Operating income growth Q +111.38% (above 0%: growing)
EPS, this year −14.56% (below 0%: weak)
EPS, next year A +0.97%
Revenue, next year A −0.83% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −2.44% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.2×, against a ten-year median of 1.8×; over the ten years it ranged from 1.1× in 2026 to 6.8× in 2016.
P/E against its own 10 years 6.48%
10-year low 10-year high
P/S against its own 10 years 4.03%
10-year low 10-year high
P/B against its own 10 years 14.78%
10-year low 10-year high
EV/Sales against its own 10 years 2.82%
10-year low 10-year high
EV/FCF against its own 10 years 6.82%
10-year low 10-year high

Dividends raised 5 years running

Yield
4.53%
Annual rate
1.91
Payout ratio
40.6%
Growth, 2017–25
+1.72%/yr
  1. 1.64 ’17
  2. 1.64 ’18 +0
  3. 1.96 ’19 +20
  4. 0.57 ’20 −71
  5. 0.68 ’21 +19
  6. 1.52 ’22 +124
  7. 1.64 ’23 +8
  8. 1.76 ’24 +7
  9. 1.88 ’25 +7
  10. 1.93 ’26e +3
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 869 969 897 602
Receivables 879 843 890 —
Inventory 802 728 716 847
Other 298 308 433 436
2,849 2,848 2,936 2,845
2023 2024 2025 Q'26
Payables 3,181 3,013 2,877 2,993
ST’ Debt 912 32 2,434 330
Other — — — —
4,093 3,045 5,311 3,324

Compound Annual Growth %

10y 5y 3y
Sales 12.06% 2.91% 1.35%
Cash Flow 9.56% 1.02% 5.91%
Earnings 0.00% 0.00% 0.00%
Book Value 3.97% (3.75%) (6.88%)

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 1.51 Actual 1.58

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.72 1.67 Miss by 0.05
Q4 FY25 1.17 1.21 Beat by 0.04
Q1 FY26 0.36 0.62 Beat by 0.26
Q2 FY26 1.51 1.58 Beat by 0.07
Q3 FY26 1.47 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.80 1.23 1.45 — —
’25 0.59 2.13 (14.79) 1.22 (10.75)
’24 0.97 2.03 0.96 1.39 5.35
’23 0.33 1.57 1.98 0.48 4.37
’22 0.70 0.22 0.99 (2.73) (0.81)
’21 0.39 1.79 2.08 0.37 4.62
’20 (0.54) 0.90 1.58 (6.32) (4.38)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,351 3,097 2,927 — —
’25 2,304 3,201 2,974 2,662 11,141
’24 2,596 3,252 3,043 2,736 11,627
’23 2,346 3,267 3,298 2,791 11,702
’22 2,215 2,922 2,935 2,630 10,701
’21 1,898 2,939 2,823 2,619 10,280
’20 2,103 2,503 2,754 2,294 9,654
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 3 818 460 — —
’25 (91) 718 616 541 1,784
’24 25 869 521 495 1,910
’23 3 891 710 475 2,079
’22 (119) 786 451 385 1,502
’21 (191) 939 519 306 1,574
’20 (18) 1,078 433 203 1,696
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (228) 721 332 — —
’25 (326) 557 485 368 1,084
’24 (188) 700 355 393 1,261
’23 (173) 738 553 301 1,418
’22 (350) 643 316 264 873
’21 (292) 832 389 149 1,077
’20 (242) 959 324 238 1,280
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing −1.6% a year for ten years. It grew 5.8% a year over the last ten.

Implied
−1.6%
10 years, reported
5.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten 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 4,885 11,003 10,770 10,579 9,654 10,280 10,701 11,702 11,627 11,141 11,037 +9.6% 11,048 11,049 11,109 (0.1%)
Gross margin, % 38.61 43.32 38.86 39.71 39.03 39.43 34.16 37.33 38.99 38.37 35.87 (0.2) pt
EBT 3,054 1,383 1,360 480 (644) 1,239 (62) 1,253 1,503 (2,518) 1,086 n/m
EBT margin, % 62.52 12.57 12.63 4.54 (6.67) 12.05 (0.58) 10.70 12.93 (22.60) 9.84 (85.1) pt
Net income 1,600 1,588 1,135 246 (946) 1,009 (186) 956 1,158 (2,180) 846 n/m
Per share, $
Per share, $ Revenue 23.04 51.08 49.86 48.84 44.53 47.35 49.34 54.18 55.68 55.96 59.18 +10.4%
Earnings 7.52 6.57 5.17 1.12 (4.38) 4.63 (0.81) 4.39 5.38 (10.75) 4.72 n/m
Cash flow 5.32 8.66 10.79 8.76 7.82 7.25 6.92 9.63 9.15 8.96 9.76 +6.0%
Capex (0.79) (2.50) (2.87) (2.21) (1.92) (2.29) (2.90) (3.06) (3.11) (3.52) (3.37) +18.1%
Free cash flow 4.53 6.16 7.93 6.55 5.90 4.96 4.02 6.57 6.04 5.44 6.39 +2.1%
Book value 54.82 61.22 63.59 63.13 58.22 62.94 59.54 62.07 63.62 52.37 55.93 (0.5%)
Shares, m 212 215 216 217 217 217 217 216 209 199 191 (0.7%)
Valuation, ×
Valuation, × P/E 13.04 12.71 10.86 48.13 0.00 9.99 0.00 14.17 10.67 0.00 8.92 12.0
P/S 4.25 1.61 1.13 1.10 1.01 0.98 1.00 1.15 1.03 0.83 0.71 1.4
P/B 1.79 1.34 0.88 0.85 0.78 0.74 0.83 1.00 0.90 0.89 0.75 1.0
EV/Sales 6.60 2.60 2.00 1.91 1.79 1.61 1.56 1.60 1.47 1.32 1.20 2.2
EV/FCF 33.62 21.56 12.59 14.22 13.48 15.40 19.12 13.23 13.60 13.56 11.11 17.0
Cash, $m
Cash, $m Operating cash flow 1,127 1,866 2,331 1,897 1,696 1,574 1,502 2,079 1,910 1,784 1,821 +5.2%
Capex (167) (539) (619) (478) (416) (497) (629) (661) (650) (701) (629) +17.3%
Free cash flow 960 1,327 1,712 1,419 1,280 1,077 873 1,418 1,261 1,084 1,192 +1.4%
Balance, $m
Balance, $m Working capital (988) (1,210) (1,535) (1,511) (1,491) (843) (737) (1,244) (197) (2,375) (479) +10.2%
Net debt 11,512 10,895 9,430 8,514 7,458 6,525 5,962 5,355 5,177 5,403 5,394 (8.1%)
Shareholders’ equity 11,622 13,187 13,736 13,673 12,621 13,664 12,915 13,407 13,284 10,427 10,431 (1.2%)
Returns, %
Returns, % ROA 7.66 5.25 3.70 0.82 (3.38) 3.66 (0.66) 3.63 4.28 (8.77) 3.93 (16.4) pt
ROIC 8.98 4.35 4.40 2.15 (1.27) 4.50 0.52 4.79 5.94 (9.23) 5.15 (18.2) pt
ROE 17.06 12.62 8.29 1.76 (7.22) 7.65 (1.32) 7.21 8.41 (18.05) 8.52 (35.1) pt
People
People Employees 17,400 17,200 17,750 17,700 17,000 16,300 16,600 16,500 16,800 16,200 — (0.8%)
Revenue/emp, $m 0.28 0.64 0.61 0.60 0.57 0.63 0.64 0.71 0.69 0.69 — +10.5%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Molson Coors Beverage Company brews, markets and sells beer and other beverages. Its beer portfolio spans premium brands such as Coors Light, Miller Lite and Carling; above-premium brands such as Blue Moon and Madrí Excepcional; and value brands such as Miller High Life and Keystone Light. It also sells flavored beverages, spirits and non-alcoholic products, including mixers and energy drinks.

The company makes and sells some brands it owns and handles others through licensing, distribution, partnership and joint venture agreements. For example, it has U.S. rights to produce and distribute Fever-Tree mixers. In 2026, it acquired Atomic Brands, the maker of Monaco Cocktails, adding a ready-to-drink cocktail business.

Molson Coors Beverage Company vs peers in Beverages Brewers (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
BUD Anheuser-Busch InBev SA/NV $149.1B 16.4× — (loss-making) +9.11% (above 0%: growing) +88.68% (above 0%: growing) +338.53% (above 0%: growing) 56.33% 27.48% Compare
ABEV Ambev S.A. $42.3B 13.7× — +18.51% (above 0%: growing) +83.67% (above 0%: growing) +255.01% (above 0%: growing) 50.97% 25.84% Compare
FMX Fomento Economico Mexicano S.A.B. de C.V. $25.8B 19.5× — +18.36% (above 0%: growing) +372.95% (above 0%: growing) +401.84% (above 0%: growing) 39.92% 8.45% Compare
STZ Constellation Brands Inc $24.5B 12.9× 11.3× +6.13% (above 0%: growing) +25.28% (above 0%: growing) −3.25% (below 0%: shrinking) 52.91% 30.57% Compare
TAP Molson Coors Beverage Company $7.9B 8.9× 8.8× −1.58% (below 0%: shrinking) n/m −31.44% (below 0%: shrinking) 35.21% 0.00%
SAM The Boston Beer Company, Inc. $2.3B — (loss-making) — (loss-making) −3.24% (below 0%: shrinking) −0.94% (below 0%: shrinking) −23.50% (below 0%: shrinking) 51.74% 10.83% Compare
CCU Compania Cervecerias Unidas, S.A. $2.0B 17.4× 16.2× +4.81% (above 0%: growing) n/m +19.70% (above 0%: growing) 41.60% (3.35%) Compare
Median of peers $25.1B 16.4× — +7.62% +83.67% +137.36% 51.36% 18.34%

All 7 Beverages Brewers stocks →

From the latest earnings call

Updated

  • CEO Rahul Goyal said U.S. category softness, U.K. promotional pressure and elevated U.S. freight and fuel costs prompted Molson Coors to lower its 2026 outlook.
  • Goyal said Coors Light and Miller Lite drove an improvement in the U.S. share trend, while CFO Tracey Joubert cited higher aluminum, freight and fuel costs.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 106.89%
Held by the ten largest 58.50%
Holder Shares Stake Change
Vanguard 22.49m 12.82% +1.25m
Dodge & Cox 19.07m 10.87% +542.39k
BlackRock 12.15m 6.93% +452.45k
AQR Capital Management 11.09m 6.32% +6.40m
Dimensional Fund Advisors 8.83m 5.03% +465.11k
State Street 8.37m 4.77% −376.93k
Invesco 6.32m 3.60% +1.11m
LSV ASSET MANAGEMENT 5.91m 3.37% −9.95k
Geode Capital Management 4.46m 2.54% −134.97k
Goldman Sachs 3.93m 2.24% +1.40m
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.

Molson Coors Beverage Company (TAP) Latest News

5 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
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Impact 3 · · just-drinks.com

27 Oct

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22 Oct

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15 Oct

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12 Oct

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9 Oct

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28 Sep

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24 Sep

Impact 3 · · Barchart

20 Sep

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21 Aug

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15 Aug

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13 Aug

Impact 3 · · The Motley Fool transcript

10 Aug

Impact 3 ·

9 Aug

Impact 3 · · MarketBeat transcript

7 Aug

Impact 4 ·
Impact 3 ·

6 Aug

Impact 4 ·
Impact 3 · transcript
Impact 3 · · Moby transcript
Impact 3 ·
Impact 3 ·
Impact 3 · · InvestorsHub

31 Jul

Impact 3 ·

30 Jul

Impact 3 ·

27 Jul

Impact 3 ·
Impact 3 ·

TAP metrics, ten years each

stockrow.com/TAP · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com