Tearsheet

Celsius (CELH)

Market Price (12/23/2025): $44.41 | Market Cap: $11.4 Bil
Sector: Consumer Staples | Industry: Soft Drinks & Non-alcoholic Beverages

Celsius (CELH)

Market Price (12/23/2025): $44.41
Market Cap: $11.4 Bil
Sector: Consumer Staples
Industry: Soft Drinks & Non-alcoholic Beverages

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 55%	Weak multi-year price returns 2Y Excs Rtn is -56%, 3Y Excs Rtn is -52%	Expensive valuation multiples P/SPrice/Sales ratio is 5.4x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 142x, P/EPrice/Earnings or Price/(Net Income) is 178x
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%		Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25%		Key risks CELH key risks include [1] its critical dependence on the PepsiCo distribution partnership, Show more.
3	Megatrend and thematic drivers Megatrends include Health & Wellness Trends. Themes include Functional Foods & Beverages.

0	Strong revenue growth Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 55%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 26%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 25%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -25%
3	Megatrend and thematic drivers Megatrends include Health & Wellness Trends. Themes include Functional Foods & Beverages.
4	Weak multi-year price returns 2Y Excs Rtn is -56%, 3Y Excs Rtn is -52%
5	Expensive valuation multiples P/SPrice/Sales ratio is 5.4x, P/EBITPrice/EBIT or Price/(Operating Income) ratio is 142x, P/EPrice/Earnings or Price/(Net Income) is 178x
6	Yield minus risk free rate is negative ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.6%
7	Key risks CELH key risks include [1] its critical dependence on the PepsiCo distribution partnership, Show more.

Valuation, Metrics & Events

	12/23/25	2024	2023	2022	2021
Share Price CYE	$44.41	$26.34	$54.52	$34.68	$24.86
Market Cap CYE ($ Bil)	11.4	6.2	12.6	7.9	5.5
Total Debt ($ Bil)	0.9	0.0	0.0	0.0	0.0
Total Cash ($ Bil)	0.8	0.9	0.8	0.6	0.0
Enterprise Value ($ Bil)	11.5	6.2	12.6	7.9	5.5
Valuation Ratios
P/S TTM	5.4	4.5	9.5	12.0	17.5
P/EBIT TTM	142.7	39.5	47.2	-49.9	-1,358.1
P/E TTM	177.8	42.4	55.5	-42.0	1,397.5
P/FCF TTM	21.9	25.7	101.6	78.8	-55.2
Sector Ratios
P/S TTM (Sector)	0.9	1.0	0.9	0.9	1.6
P/EBIT TTM (Sector)	8.5	9.8	10.9	10.8	12.5
P/E TTM (Sector)	12.9	14.4	15.9	14.3	16.3
P/FCF TTM (Sector)	11.2	14.5	11.9	12.1	13.9

	12/23/25	2024	2023
Share Price CYE	$44.41	$26.34	$54.52
Market Cap CYE ($ Bil)	11.4	6.2	12.6
Total Debt ($ Bil)	0.9	0.0	0.0
Total Cash ($ Bil)	0.8	0.9	0.8
Enterprise Value ($ Bil)	11.5	6.2	12.6
Valuation Ratios
P/S TTM	5.4	4.5	9.5
P/EBIT TTM	142.7	39.5	47.2
P/E TTM	177.8	42.4	55.5
P/FCF TTM	21.9	25.7	101.6
Sector Ratios
P/S TTM (Sector)	0.9	1.0	0.9
P/EBIT TTM (Sector)	8.5	9.8	10.9
P/E TTM (Sector)	12.9	14.4	15.9
P/FCF TTM (Sector)	11.2	14.5	11.9

	CELH	S&P 500
REVENUE GROWTH	VERY GOOD
Rev LTM ($ Bil)	2.1
Rev Chg Q	172.9%	7.3%
Rev Chg LTM	55.1%	6.0%
Rev Chg 3Y Avg	57.5%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.3
CFO LTM ($ Bil)	0.6
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	16.1%	18.8%
CFO/Rev LTM	26.1%	20.4%
Net Inc Mgn	3.0%	13.1%
VALUATION	MODERATE
P/S	5.4	3.2
P/CFO	20.6	15.5
P/FCF	21.9	20.7
P/E	177.8	23.5
STABILITY	VERY GOOD
Debt/Equity	0.08	0.21
Cash/Assets	0.15	0.07

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Metric	Value	Date	Source
Market Share of Energy Drink Sales on Amazon	19.7%	8062024	Link
Average Shelf Space Increase	35%	7142024	Link
U.S. Energy Drink Market Share	11.2%	11062025	Link
Average SKUs in all measured channels	20	8132024	Link
Combined Household Penetration (Celsius and Alani Nu)	43%	11042025	Link
Repeat Purchase Rate	above 65%	11042025	Link
Total Points of Distribution Increase	37%	2202025	Link
All-Commodity Volume (ACV)	98.7%	2202025	Link
Percentage of US Stores Stocked	95%	1012022	Link
Percentage of Category Growth Contribution	30%	2202025	Link

Upcoming
2/19/2026	Earnings Release	Rev: $638 Mil (E) EPS: $0.19 (E)

CELH Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are five key points explaining the approximate -29.5% stock movement for Celsius (CELH) from August 31, 2025, to December 23, 2025:

1. Q3 2025 Earnings Report and Net Loss: Celsius Holdings reported a diluted earnings per share (EPS) of $(0.27) for the third quarter of 2025, a significant drop from $0.00 in the prior-year period. This GAAP net loss, along with substantial one-time costs related to its acquisition strategy and distribution restructuring, led to a pre-market stock decline of 17.56% on November 6, 2025.

2. Concerns Over Q4 2025 Guidance and Integration Challenges: Investor sentiment was negatively impacted by management's statements indicating that the fourth quarter of 2025 would be "noisy" due to factors such as inventory returns, network changes, promotional activities, and increased scrap and freight costs associated with the integration of Alani Nu into the PepsiCo distribution system. These anticipated short-term operational disruptions and potential margin pressures contributed to investor apprehension.

Show more Here are five key points explaining the approximate -29.5% stock movement for Celsius (CELH) from August 31, 2025, to December 23, 2025:

1. Q3 2025 Earnings Report and Net Loss: Celsius Holdings reported a diluted earnings per share (EPS) of $(0.27) for the third quarter of 2025, a significant drop from $0.00 in the prior-year period. This GAAP net loss, along with substantial one-time costs related to its acquisition strategy and distribution restructuring, led to a pre-market stock decline of 17.56% on November 6, 2025.

2. Concerns Over Q4 2025 Guidance and Integration Challenges: Investor sentiment was negatively impacted by management's statements indicating that the fourth quarter of 2025 would be "noisy" due to factors such as inventory returns, network changes, promotional activities, and increased scrap and freight costs associated with the integration of Alani Nu into the PepsiCo distribution system. These anticipated short-term operational disruptions and potential margin pressures contributed to investor apprehension.

3. High Valuation Leading to Profit-Taking: Prior to the reporting period, CELH stock had experienced substantial gains, with shares more than doubling year-to-date by September 16, 2025. The company's valuation, evidenced by a high price-to-earnings (P/E) ratio of 180.88 in Q2 2025, reflected elevated market expectations. When coupled with new concerns, this high valuation likely prompted investors to take profits, contributing to the stock's decline.

4. Significant Insider Selling Activity: Several key insiders engaged in substantial selling of Celsius Holdings stock during this period, with individual transaction amounts exceeding USD 5 million. For example, William H. Milmoe sold shares estimated at $30.93 million, and CEO John Fieldly sold shares worth an estimated $18.90 million. Such considerable insider sales can be interpreted by the market as a lack of confidence, thereby affecting investor perception.

5. PepsiCo Partnership Related Charges and Distribution Adjustments: Although the expanded partnership with PepsiCo is generally viewed as a long-term positive, the immediate financial impact included a $246.7 million PepsiCo-related charge. This charge signaled significant distribution shifts and restructuring efforts which, while intended to yield benefits in 2026, created short-term disturbances and were noted as factors that could negatively influence Q4 2025 results. Show less

Stock Movement Drivers

Fundamental Drivers

The -13.6% change in CELH stock from 9/22/2025 to 12/22/2025 was primarily driven by a -61.7% change in the company's Net Income Margin (%).

	9222025	12222025	Change
Stock Price ($)	51.34	44.36	-13.60%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1666.48	2125.84	27.56%
Net Income Margin (%)	7.91%	3.03%	-61.69%
P/E Multiple	100.44	177.61	76.84%
Shares Outstanding (Mil)	257.75	257.78	-0.01%
Cumulative Contribution			-13.60%

LTM = Last Twelve Months as of date shown

Market Drivers

9/22/2025 to 12/22/2025

	Return	Correlation
CELH	-13.6%
Market (SPY)	2.7%	41.8%
Sector (XLP)	-0.1%	1.0%

Fundamental Drivers

The 3.6% change in CELH stock from 6/23/2025 to 12/22/2025 was primarily driven by a 96.9% change in the company's P/E Multiple.

	6232025	12222025	Change
Stock Price ($)	42.83	44.36	3.57%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1329.20	2125.84	59.93%
Net Income Margin (%)	8.40%	3.03%	-63.95%
P/E Multiple	90.20	177.61	96.91%
Shares Outstanding (Mil)	235.19	257.78	-9.60%
Cumulative Contribution			2.62%

LTM = Last Twelve Months as of date shown

Market Drivers

6/23/2025 to 12/22/2025

	Return	Correlation
CELH	3.6%
Market (SPY)	14.4%	31.1%
Sector (XLP)	-3.7%	12.5%

Fundamental Drivers

The 64.2% change in CELH stock from 12/22/2024 to 12/22/2025 was primarily driven by a 502.3% change in the company's P/E Multiple.

	12222024	12222025	Change
Stock Price ($)	27.01	44.36	64.24%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1370.87	2125.84	55.07%
Net Income Margin (%)	15.62%	3.03%	-80.60%
P/E Multiple	29.49	177.61	502.33%
Shares Outstanding (Mil)	233.70	257.78	-10.30%
Cumulative Contribution			62.49%

LTM = Last Twelve Months as of date shown

Market Drivers

12/22/2024 to 12/22/2025

	Return	Correlation
CELH	64.2%
Market (SPY)	16.9%	26.6%
Sector (XLP)	0.0%	22.1%

Fundamental Drivers

The 24.6% change in CELH stock from 12/23/2022 to 12/22/2025 was primarily driven by a 266.6% change in the company's Total Revenues ($ Mil).

	12232022	12222025	Change
Stock Price ($)	35.60	44.36	24.62%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	579.90	2125.84	266.59%
P/S Multiple	13.96	5.38	-61.46%
Shares Outstanding (Mil)	227.39	257.78	-13.36%
Cumulative Contribution			22.39%

LTM = Last Twelve Months as of date shown

Market Drivers

12/23/2023 to 12/22/2025

	Return	Correlation
CELH	-11.4%
Market (SPY)	47.7%	25.3%
Sector (XLP)	14.6%	19.3%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CELH Return	942%	48%	40%	57%	-52%	62%	2558%
Peers Return	�	�	�	�	�	�	�
S&P 500 Return	16%	27%	-19%	24%	23%	17%	113%
Monthly Win Rates [3]
CELH Win Rate	83%	75%	50%	50%	25%	58%
Peers Win Rate	�	�	�	�	�	�
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
CELH Max Drawdown	-33%	-15%	-46%	-22%	-53%	-19%
Peers Max Drawdown	�	�	�	�	�	�
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: . See CELH Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/22/2025 (YTD)

How Low Can It Go

Unique Key	Event	CELH	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-62.5%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	166.9%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	189 days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-51.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	106.4%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	63 days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-52.8%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	111.9%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	439 days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-99.3%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	14100.0%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	466 days	1,480 days

Compare to

In The Past

Celsius's stock fell -62.5% during the 2022 Inflation Shock from a high on 11/5/2021. A -62.5% loss requires a 166.9% gain to breakeven.

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About Celsius (CELH)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Celsius Holdings, Inc. develops, processes, markets, distributes, and sells functional drinks and liquid supplements in North America, Europe, Asia, and internationally. It offers various carbonated and non-carbonated functional energy drinks under the CELSIUS Originals name; dietary supplement in carbonated flavors, including apple jack'd, orangesicle, inferno punch, cherry lime, blueberry pomegranate, strawberry dragon fruit, tangerine grapefruit, and jackfruit under the CELSIUS HEAT name; and branched-chain amino acids functional energy drink that fuels muscle recovery under the CELSIUS BCCA+ENERGY name. The company also provides CELSIUS On-the-Go, a powdered form of the active ingredients in functional energy drinks in individual On-The-Go packets and canisters; and sparkling grapefruit, cucumber lime, and orange pomegranate, as well as pineapple coconut, watermelon berry, and strawberries and cream non-carbonated functional energy drinks under the CELSIUS Sweetened. It distributes its products through direct-to-store delivery distributors and direct to retailers, including supermarkets, convenience stores, drug stores, nutritional stores, and mass merchants, as well as health clubs, spas, gyms, the military, and e-commerce websites. The company was formerly known as Vector Ventures, Inc. and changed its name to Celsius Holdings, Inc. in January 2007. Celsius Holdings, Inc. was founded in 2004 and is headquartered in Boca Raton, Florida.

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Here are 1-3 brief analogies for Celsius (CELH):

Monster Energy, but with a health and fitness focus.
Red Bull for the wellness and fitness consumer.

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Celsius Essential Energy Drinks: A range of functional beverages in cans, available in sparkling and non-carbonated versions, designed to boost metabolism and provide sustained energy.
Celsius BCAA+Energy Drinks: Beverages that combine the thermogenic benefits of Celsius with branched-chain amino acids to support muscle recovery and energy.
Celsius VIBE Series: A line of functional energy drinks featuring unique, vibrant fruit flavor combinations.
Celsius On-The-Go Powder Sticks: Portable powdered drink mixes designed for convenient preparation of Celsius beverages by adding water.

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Celsius Holdings, Inc. (symbol: CELH) primarily sells its products to other companies, which then distribute and sell to individual consumers. Its major customers are large distributors and retailers.

The following are some of its major customer companies:

PepsiCo (PEP): A global beverage and snack company that serves as Celsius's preferred global distribution partner. PepsiCo purchases Celsius products for distribution to its vast network of retail partners worldwide.
Walmart (WMT): One of the world's largest retail corporations, stocking Celsius products in its stores.
Target Corporation (TGT): A major general merchandise retailer that carries Celsius beverages.
Kroger (KR): One of the largest supermarket chains in the United States, selling Celsius products in its grocery stores.
Costco Wholesale Corporation (COST): A global membership-only warehouse club that offers Celsius products to its members.

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John Fieldly, Chairman of the Board, President, and Chief Executive Officer

John Fieldly joined Celsius in January 2012 as Chief Financial Officer, served as interim CEO and CFO from March 2017 to March 2018, and was appointed CEO in April 2018. He also assumed the role of Chairman of the Board in August 2021. Under his leadership, Celsius's revenue significantly increased, surpassing $1.3 billion in 2023. He guided the company through challenging times, including periods where it faced near bankruptcy, lost 50% of its revenue, and was delisted from Nasdaq. Fieldly was instrumental in shifting the company's focus from weight loss to energy and secured a significant distribution partnership with PepsiCo in 2022. He is a Certified Public Accountant in Florida and holds a Bachelor of Science degree in Accounting from the University of South Florida. He was also identified as a founding team member of Celsius. In 2020, Celsius raised $22 million in private investments, with one investor identified as "Asia's leading private equity firm."

Jarrod Langhans, Chief Financial Officer

Jarrod Langhans joined Celsius in April 2022. Prior to his role at Celsius, he served as CFO at Eden Springs, a division of Primo Water, from 2020 to 2022, and held various senior management positions at Primo Water for eight years. He brings extensive experience in financial reporting, including SEC, GAAP, and IFRS, as well as financial planning and analysis (FPA), mergers and acquisitions (M&A), investor relations (IR), and debt and equity issuances. Langhans earned a master's degree in accounting from the University of Florida. He also oversaw the financial and strategic aspects of PepsiCo's investment in Celsius and their distribution agreement.

Eric Hanson, President & Chief Operating Officer

Eric Hanson joined Celsius in March 2025. He possesses over 27 years of experience in sales, general management, commercial planning, and partnership management within the food and beverage industry. Before joining Celsius, Hanson held various senior leadership roles at PepsiCo from 1997 to 2025, including Senior Vice President - Strategic Partnerships, Senior Vice President, Energy Drinks, and Senior Vice President – Commercial Planning & Sales Transformation.

Paul Storey, Chief Supply Chain Officer

Paul Storey joined Celsius in 2021 and is responsible for overseeing the company's global production and operational strategies, playing a key role in scaling its worldwide supply chain. He has 30 years of experience in the beverage industry, including four years as Vice-President of Operations for Monster Energy and 11 years as Head of Operations for Rockstar Energy prior to joining Celsius.

Tony Guilfoyle, Chief Commercial Officer

Tony Guilfoyle oversees Celsius Holdings, Inc.'s commercial sales and brand strategy. He is crucial in developing and executing the Celsius 3 Brand Strategy, which focuses on driving growth across direct store delivery (DSD), field sales, key accounts, and food service channels.

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The key risks to Celsius Holdings Inc. (CELH) primarily stem from its critical distribution partnership, the intensely competitive beverage market, and increasing regulatory scrutiny.

High Reliance on PepsiCo and Associated Execution Risks: Celsius's business is substantially dependent on its distribution partnership with PepsiCo, especially in North America. This reliance introduces significant operational vulnerabilities, as evidenced by past instances where PepsiCo's inventory management decisions negatively impacted Celsius's revenue and profitability. The integration of newly acquired brands, such as Alani Nu, into PepsiCo's distribution network also presents "execution risks" that could affect future performance.
Intense Competition and Margin Pressure: Celsius operates in a highly competitive energy drink and functional beverage market, facing strong rivalry from established powerhouses like Monster Beverage Corporation and Red Bull, as well as emerging brands. This dynamic environment necessitates continuous innovation and strategic positioning to maintain and expand market share. Intense competition can lead to pricing pressures and increased marketing expenditures, ultimately impacting profit margins.
Regulatory Pressures and Health Claims Scrutiny: The functional beverage industry, particularly the energy drink segment, is subject to increasing regulatory oversight regarding product formulations, health claims, and marketing practices. Celsius's proprietary "MetaPlus Blend" and its claims related to metabolism enhancement and energy levels could attract heightened scrutiny. Past concerns about misleading advertising suggest that the company must carefully navigate regulatory landscapes to avoid compliance costs, potential legal challenges, or restrictions on its marketing strategies.

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1. Emergence of highly disruptive, influencer-backed energy drink brands: Prime Energy, launched by social media influencers Logan Paul and KSI, has experienced explosive growth since its late 2022 launch, rapidly capturing significant market share, particularly among younger demographics. This presents a direct competitive threat to Celsius by drawing away consumers through a different marketing and brand appeal strategy.

2. Growing consumer and scientific scrutiny regarding certain sugar alcohols, particularly erythritol: Recent scientific studies, notably one published in Nature Medicine in early 2023, have suggested a potential link between erythritol consumption and increased risk of cardiovascular events. As Celsius uses erythritol as a primary sweetener in some of its products, a significant shift in public perception or increased regulatory pressure regarding its safety could undermine Celsius's "healthy" brand image and consumer trust.

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Celsius Holdings, Inc. (CELH) operates primarily in the market for functional energy drinks and functional beverages. The addressable markets for these products are substantial, both globally and within the United States.

Global Market Size

Functional Beverages: The global functional beverages market was estimated at USD 158.05 billion in 2024. Projections indicate this market is expected to reach approximately USD 296.67 billion by 2034, growing at a Compound Annual Growth Rate (CAGR) of 6.50% from 2025 to 2034. Another estimate places the global functional drinks market at USD 243.22 billion in 2024, with a projected growth to USD 463.19 billion by 2033, at a CAGR of 7.42% from 2025–2033.
Energy Drinks (a segment of Functional Beverages): The global energy drinks market was valued at approximately USD 76.38 billion in 2024. This market is predicted to grow to around USD 177.51 billion by 2034, with a CAGR of roughly 8.1% between 2025 and 2034. Another source indicates the global energy drinks market size was USD 107.20 billion in 2024 and is projected to reach USD 223.39 billion by 2033, with a CAGR of 8.5% during the forecast period (2025–2033).

U.S. Market Size

Functional Beverages: The U.S. functional beverages market size was estimated at USD 48.68 billion in 2024. It is predicted to be worth around USD 93.07 billion by 2034, with a CAGR of 6.70% from 2025 to 2034. North America, which includes the U.S., held a 44% portion of the overall global functional beverages market in 2024.
Energy Drinks (a segment of Functional Beverages): The U.S. energy drinks market size was estimated at USD 25.01 billion in 2024. This market is expected to grow at a CAGR of 7.2% from 2024 to 2030, reaching USD 37.83 billion by 2030. Another valuation for the U.S. energy drinks market in 2024 was USD 23.9 billion. The U.S. energy drinks market captured the largest revenue share of 42% within North America in 2024.

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Here are 3-5 expected drivers of future revenue growth for Celsius (CELH) over the next 2-3 years:

1. Acquisitions and Portfolio Expansion: Celsius Holdings has actively pursued growth through strategic acquisitions, notably the integration of Alani Nu and Rockstar Energy. These acquisitions are expected to significantly contribute to revenue by expanding the company's market share and reaching new consumer segments.

2. Expanded Partnership and Enhanced Distribution with PepsiCo: The deepened partnership with PepsiCo is a crucial driver, providing Celsius with greater control over product placement (planograms), stock-keeping units (SKUs), and overall commercial strategy. This collaboration, particularly as Alani Nu transitions into PepsiCo's distribution network, is anticipated to enhance distribution capabilities and drive sales.

3. International Expansion: Celsius is actively expanding its global footprint. Recent efforts include exceeding initial expectations for sales in Canada, the UK, and Ireland, and commencing sales in Australia and New Zealand in Q3 2024. Further expansion into new international markets, such as France, is also planned, contributing to future revenue growth.

4. Increasing Consumption Frequency and Product Innovation: The core CELSIUS brand continues to drive growth through product innovation and by expanding the occasions for consumption. The introduction of refreshing flavors and a focus on an aspirational "Live Fit" lifestyle are key strategies to increase consumer engagement and frequency of purchase.

5. Continued Market Share Gains in the Energy Drink Category: Celsius has consistently demonstrated its ability to capture a growing share of the energy drink market. The company reported holding over 20% of the U.S. energy drink market in tracked channels in Q3 2025, reflecting strong consumer demand and effective distribution enhancements. Continued penetration and market share gains are expected to be a significant revenue driver.

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Capital Allocation Decisions for Celsius (CELH) Over Last 3-5 Years

Share Repurchases

Celsius reported annual share buybacks of $2.3 million in 2024.
For the quarter ending June 30, 2025, share repurchases amounted to $879K.
The latest twelve months' repurchase of common stock was approximately $5.072 million.

Share Issuance

In 2022, Celsius issued $550 million in convertible preferred stock to PepsiCo as part of a strategic distribution partnership.
Celsius completed a Post IPO funding round on August 29, 2025, raising $585 million, with PepsiCo among the participating investors.
The acquisition of Alani Nu in February 2025, for a net purchase price of $1.65 billion, was comprised of a mix of cash and stock.

Inbound Investments

On August 20, 2020, Celsius received a direct private investment of $22 million from two investors, including Asia's leading private equity firm.
PepsiCo made an investment in Celsius in 2022 by purchasing $550 million of convertible preferred stock.
PepsiCo further increased its ownership in Celsius to 11% through additional investments in 2025, which included participation in a $585 million Post IPO round.

Outbound Investments

In February 2025, Celsius acquired Alani Nutrition for $1.8 billion (net purchase price of $1.65 billion after tax assets).
Celsius acquired Big Beverages for $75 million on November 1, 2024.
Celsius acquired the Rockstar Energy brand in the U.S. and Canada from PepsiCo in 2025 for $585 million.

Capital Expenditures

Celsius's capital expenditures have shown an increasing trend, rising from $574 thousand in 2020 to $23.39 million in 2024.
The latest twelve months' capital expenditures for Celsius amounted to $24.845 million as of June 2025.
The company's capital expenditures for the three months ending June 30, 2025, were $8.3 million.

Better Bets than Celsius (CELH)

INDUSTRY: Soft Drinks & Non-alcoholic Beverages

Higher Op Mgn LTM (Value for CELH: 16.1%)

KO (31.3%)

Coca-Cola

MNST (28.3%)

Monster Beverage

KDP (21.5%)

Keurig Dr Pepper

FIZZ (19.7%)

National Beverage

Higher CFO/Rev LTM (Value for CELH: 26.1%)

MNST (27.3%)

Monster Beverage

Higher Total Yield (Value for CELH: 0.6%)

PEP (7.3%)

PepsiCo

KO (7.1%)

Coca-Cola

KDP (5.8%)

Keurig Dr Pepper

MNST (2.3%)

Monster Beverage

CCHGY (2.3%)

Coca-Cola HBC

SECTOR: Consumer Staples

Higher Rev Chg 3Y Avg | Lower P/S (Values for CELH: 57.5% | 5.4x)

BHST (112.5% | 3.0x)

BioHarvest Sciences

RYM (390.1% | 3.2x)

Rythm

BOF (172.4% | 3.7x)

Branchout Food

NCRA (104.8% | 0.9x)

Nocera

SOWG (607.1% | 0.9x)

Sow Good

Higher Rev Chg LTM (Value for CELH: 55.1%)

RYM (1338.9%)

Rythm

WGRX (495.9%)

Wellgistics Health

DLTR (156.4%)

Dollar Tree

BOF (72.9%)

Branchout Food

CALM (65.8%)

Cal-Maine Foods

Higher Rev Chg 3Y Avg (Value for CELH: 57.5%)

SOWG (607.1%)

Sow Good

RYM (390.1%)

Rythm

BOF (172.4%)

Branchout Food

BHST (112.5%)

BioHarvest Sciences

NCRA (104.8%)

Nocera

Higher Op Mgn LTM (Value for CELH: 16.1%)

MO (59.0%)

Altria

PM (37.1%)

Philip Morris International

KO (31.3%)

Coca-Cola

BUD (26.1%)

Anheuser-Busch InBev SA/NV

PG (24.1%)

Procter & Gamble

Higher CFO/Rev LTM (Value for CELH: 26.1%)

MO (43.8%)

Altria

CALM (31.5%)

Cal-Maine Foods

PM (28.8%)

Philip Morris International

STZ (28.8%)

Constellation Brands

MNST (27.3%)

Monster Beverage

Higher FCF/Rev LTM (Value for CELH: 24.6%)

MO (43.1%)

Altria

ALCO (33.2%)

Alico

EWCZ (28.1%)

European Wax Center

CALM (27.6%)

Cal-Maine Foods

PM (25.3%)

Philip Morris International

Higher Total Yield (Value for CELH: 0.6%)

KO (7.1%)

Coca-Cola

PM (6.9%)

Philip Morris International

PG (5.0%)

Procter & Gamble

WMT (3.4%)

Walmart

COST (2.5%)

Costco Wholesale

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CELH: 57.5% | 5.4x)

APO (89.3% | 3.2x)

Apollo Asset Management

SLF (88.9% | 1.0x)

Sun Life Financial

RIVN (103.0% | 4.5x)

Rivian Automotive

SMCI (63.1% | 0.9x)

Super Micro Computer

QXO (2715.8% | 3.4x)

QXO

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CELH: 57.5% | 33.3x)

APO (89.3% | 10.9x)

Apollo Asset Management

SMCI (63.1% | 20.0x)

Super Micro Computer

FTAI (66.9% | 24.0x)

FTAI Aviation

HUT (135.5% | 13.2x)

Hut 8

ORLA (81.9% | 15.6x)

Orla Mining

Higher Rev Chg LTM (Value for CELH: 55.1%)

APP (86.4%)

AppLovin

HOOD (74.6%)

Robinhood Markets

NVDA (65.2%)

NVIDIA

OKE (58.4%)

ONEOK

TFC (55.5%)

Truist Financial

Higher Rev Chg 3Y Avg (Value for CELH: 57.5%)

RIVN (103.0%)

Rivian Automotive

NVDA (91.6%)

NVIDIA

APO (89.3%)

Apollo Asset Management

SLF (88.9%)

Sun Life Financial

NU (62.1%)

Higher Op Mgn LTM (Value for CELH: 16.1%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for CELH: 26.1%)

META (56.8%)

Meta Platforms

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

Higher FCF/Rev LTM (Value for CELH: 24.6%)

MA (52.5%)

Mastercard

PLTR (46.0%)

Palantir Technologies

AVGO (42.1%)

Broadcom

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

Higher Total Yield (Value for CELH: 0.6%)

MSFT (3.6%)

Microsoft

GOOGL (3.6%)

Alphabet

AMZN (2.9%)

Amazon.com

AAPL (2.8%)

Apple

NVDA (2.2%)

NVIDIA

		Best Bets In Consumer Staples Sector
	CELH	MO	PM	MNST	PG	STZ	CL	HSY	KO	FIZZ	COCO
What You Pay
P/E	177.6	11.2	28.8	43.9	19.9	20.4	22.0	24.7	23.2	16.2	43.9
P/EBIT	142.5	8.4	16.2	33.4	15.2	11.8	15.2	19.8	17.3	12.7	41.2
What You Get
Rev Chg Q	172.9%	0.2%	9.4%	16.8%	3.0%	-15.0%	1.0%	26.0%	5.1%	-1.0%	37.2%
Rev Chg LTM	55.1%	-0.2%	7.5%	7.6%	1.2%	-5.6%	0.1%	2.5%	2.8%	1.0%	23.1%
Rev Chg 3Y Avg	57.5%	-0.9%	8.0%	8.6%	1.8%	0.7%	4.2%	5.2%	4.0%	1.1%	13.3%
FCF/Rev 3Y Avg	14.0%	42.7%	24.9%	22.0%	18.0%	17.0%	15.4%	13.9%	13.9%	13.4%	13.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 8.7%, alpha of 1.4%, and sharpe of 0.5

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Celsius Earnings Notes
2	Celsius Earnings Notes
3	How Low Can Celsius Stock Really Go?	Return
4	With CELH Up 10% in a Week, Is It Time to Compare It Against RCL?	Counter-Intuitive Comparisons
5	CELH's One-Week Rally Offers a Chance to Reevaluate CALM	Counter-Intuitive Comparisons
6	Day 7 of Gains Streak for Celsius Stock with 34% Return (vs. 118% YTD) [8/15/2025]	Notification
7	Day 6 of Gains Streak for Celsius Stock with 33% Return (vs. 115% YTD) [8/14/2025]	Notification
8	How Does Celsius Stock Stack Up Against Its Peers?	Peer Comparison
9	Better Bet Than CELH Stock: Pay Less Than Celsius To Get More From NVDA, RCL
10	Is CELH Stock Still the Best Pick Among Its Peers?
11	ARTICLES
12	Mid Cap Stocks Trading At 52-Week High		August 16th, 2025
13	CELH Stock Up 34% after 7-Day Win Streak		August 16th, 2025
14	CELH Stock Up 33% after 6-Day Win Streak		August 15th, 2025
15	Mid Cap Stocks Trading At 52-Week High		August 13th, 2025
16	Stacking Up CELH Against Its Peers – Is It Still a Buy?		August 9th, 2025

	Title
0	DASHBOARDS
1	Celsius Earnings Notes
2	Celsius Earnings Notes
3	How Low Can Celsius Stock Really Go?
4	With CELH Up 10% in a Week, Is It Time to Compare It Against RCL?
5	CELH's One-Week Rally Offers a Chance to Reevaluate CALM
6	Day 7 of Gains Streak for Celsius Stock with 34% Return (vs. 118% YTD) [8/15/2025]
7	Day 6 of Gains Streak for Celsius Stock with 33% Return (vs. 115% YTD) [8/14/2025]
8	How Does Celsius Stock Stack Up Against Its Peers?
9	Better Bet Than CELH Stock: Pay Less Than Celsius To Get More From NVDA, RCL
10	Is CELH Stock Still the Best Pick Among Its Peers?
11	ARTICLES
12	Mid Cap Stocks Trading At 52-Week High
13	CELH Stock Up 34% after 7-Day Win Streak
14	CELH Stock Up 33% after 6-Day Win Streak
15	Mid Cap Stocks Trading At 52-Week High
16	Stacking Up CELH Against Its Peers – Is It Still a Buy?

Trade Ideas

Select ideas related to CELH. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BF-B_11302025_Dip_Buyer_ValueBuy	11302025	BF-B	Brown-Forman	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-2.3%	-2.3%	-2.3%
CPB_11302025_Dip_Buyer_ValueBuy	11302025	CPB	Campbell's	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-6.3%	-6.3%	-7.5%
ENR_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	ENR	Energizer	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	10.1%	10.1%	-5.3%
FLO_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FLO	Flowers Foods	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	6.0%	6.0%	-1.6%
CLX_11142025_Dip_Buyer_FCFYield	11142025	CLX	Clorox	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-5.4%	-5.4%	-5.4%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ADEA	Adeia	1.8	30.5%	21.0%
AAOI	Applied Optoelectronics	2.5	24.8%	6.1%
QBTS	D-Wave Quantum	11.0	20.0%	283.2%
ZBIO	Zenas BioPharma	1.8	17.1%	416.8%
UNF	UniFirst	3.6	16.1%	16.4%
FLY	Firefly Aerospace	4.0	16.0%
UAMY	United States Antimony	0.7	16.0%	215.8%
RZLT	Rezolute	0.2	15.8%	-58.2%
RCAT	Red Cat	0.8	14.5%	-28.2%
KURA	Kura Oncology	1.0	14.5%	29.4%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
TPL	Texas Pacific Land	7.0	-66.3%	-72.5%
EWTX	Edgewise Therapeutics	2.2	-18.0%	-21.6%
DJT	Trump Media & Technology	4.0	-10.4%	-57.7%
AVO	Mission Produce	0.8	-9.7%	-17.0%
GTN-A	Gray Media	1.0	-8.0%	43.1%
ANGX	Angel Studios	0.8	-8.0%
DDS	Dillard's	9.6	-7.7%	48.3%
NKTR	Nektar Therapeutics	0.6	-7.2%	211.7%
MPLT	MapLight Therapeutics	0.8	-6.7%
TLRY	Tilray Brands	11.0	-6.6%	-21.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
LUNR	Intuitive Machines	2.0	50.1%	-8.1%
FBYD	Falcons Beyond Global	0.7	46.4%	129.2%
TE	T1 Energy	1.1	44.3%
HUT	Hut 8	5.3	42.2%	145.9%
FLY	Firefly Aerospace	4.0	40.5%
RKLB	Rocket Lab	39.9	40.0%	204.5%
DJT	Trump Media & Technology	4.0	37.8%	-57.7%
QBTS	D-Wave Quantum	11.0	35.6%	283.2%
EEX	Emerald	0.9	34.2%	-0.1%
AAOI	Applied Optoelectronics	2.5	30.8%	6.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	32.5	-79.5%	-26.1%
TPL	Texas Pacific Land	7.0	-63.9%	-72.5%
LW	Lamb Weston	6.0	-28.0%	-34.3%
OLMA	Olema Pharmaceuticals	2.4	-21.4%	383.4%
FDMT	4D Molecular Therapeutics	0.5	-20.5%	56.4%
NKTR	Nektar Therapeutics	0.6	-18.4%	211.7%
INSP	Inspire Medical Systems	2.9	-17.9%	-47.2%
PLAY	Dave & Buster's Entertainment	0.6	-17.9%	-45.0%
NKE	Nike	84.5	-15.6%	-22.6%
HPP	Hudson Pacific Properties	4.6	-14.9%	-51.6%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TE	T1 Energy	1.1	168.4%
WVE	WAVE Life Sciences	2.9	166.0%	45.3%
LUNR	Intuitive Machines	2.0	107.3%	-8.1%
AAOI	Applied Optoelectronics	2.5	100.6%	6.1%
RKLB	Rocket Lab	39.9	96.4%	204.5%
VERA	Vera Therapeutics	3.4	93.0%	27.2%
ANF	Abercrombie & Fitch	5.9	83.9%	-16.6%
PL	Planet Labs PBC	6.3	83.4%	409.9%
ARWR	Arrowhead Pharmaceuticals	9.6	81.1%	267.0%
FTRE	Fortrea	1.6	76.2%	-5.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.2	-78.8%	-58.2%
TPL	Texas Pacific Land	7.0	-65.7%	-72.5%
JANX	Janux Therapeutics	0.9	-50.7%	-73.7%
FRMI	Fermi	6.2	-42.4%
LENZ	LENZ Therapeutics	0.5	-36.4%	-39.0%
GOGO	Gogo	0.6	-30.3%	-41.9%
UP	Wheels Up Experience	0.4	-27.4%	-62.1%
ACLX	Arcellx	3.7	-27.2%	-15.0%
ORIC	ORIC Pharmaceuticals	0.7	-26.8%	4.1%
KOS	Kosmos Energy	0.5	-26.5%	-71.8%

Peer Comparisons for Celsius

Peers to compare with:

Financials

	CELH	Median
Name	Celsius
Mkt Price	44.36	44.36
Mkt Cap	11.4	11.4
Rev LTM	2,126	2,126
Op Inc LTM	343	343
FCF LTM	524	524
FCF 3Y Avg	250	250
CFO LTM	555	555
CFO 3Y Avg	273	273

Growth & Margins

	CELH	Median
Name	Celsius
Rev Chg LTM	55.1%	55.1%
Rev Chg 3Y Avg	57.5%	57.5%
Rev Chg Q	172.9%	172.9%
QoQ Delta Rev Chg LTM	27.6%	27.6%
Op Mgn LTM	16.1%	16.1%
Op Mgn 3Y Avg	16.1%	16.1%
QoQ Delta Op Mgn LTM	5.7%	5.7%
CFO/Rev LTM	26.1%	26.1%
CFO/Rev 3Y Avg	15.5%	15.5%
FCF/Rev LTM	24.6%	24.6%
FCF/Rev 3Y Avg	14.0%	14.0%

Valuation

	CELH	Median
Name	Celsius
Mkt Cap	11.4	11.4
P/S	5.4	5.4
P/EBIT	142.5	142.5
P/E	177.6	177.6
P/CFO	20.6	20.6
Total Yield	0.6%	0.6%
Dividend Yield	0.0%	0.0%
FCF Yield 3Y Avg	2.1%	2.1%
D/E	0.1	0.1
Net D/E	0.0	0.0

Returns

	CELH	Median
Name	Celsius
1M Rtn	13.8%	13.8%
3M Rtn	-13.6%	-13.6%
6M Rtn	3.6%	3.6%
12M Rtn	64.2%	64.2%
3Y Rtn	24.6%	24.6%
1M Excs Rtn	7.9%	7.9%
3M Excs Rtn	-16.4%	-16.4%
6M Excs Rtn	-15.2%	-15.2%
12M Excs Rtn	46.6%	46.6%
3Y Excs Rtn	-52.4%	-52.4%

Comparison Analyses

	Title
0	How Does Celsius Stock Stack Up Against Its Peers?
1	Celsius Holdings vs. The Coca-Cola Company: With Return Forecast Of 46%, Celsius Holdings Is A Better Bet
2	CELH Looks Stronger Than HLF With 106% Return Potential
3	With 106% Gains On The Table, CELH May Outshine PEP
4	Celsius Holdings vs. ACM Research: Similar Revenue, But Celsius Holdings Is A Better Bet
5	Celsius Holdings vs. FibroGen: Similar Revenue, But Celsius Holdings Is A Better Bet
6	Celsius Holdings vs. Clean Energy Fuels: Similar Revenue, But Celsius Holdings Is A Better Bet
7	Celsius Holdings vs. ACI Worldwide: Similar Market Cap, But Celsius Holdings Is A Better Bet
8	Celsius Holdings vs. Envestnet: Similar Market Cap, But Celsius Holdings Is A Better Bet
9	Celsius Holdings vs. Alkermes: Similar Market Cap, But Celsius Holdings Is A Better Bet

FDIC Bank Data

Bank Capital

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Bank Deposits

null

Bank Assets

null

Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End	9/30/2025	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date	11/7/2025	3/3/2025	2/29/2024	3/1/2023	3/16/2022	3/11/2021	3/12/2020
Key Financials
Total Revenue	2,126	1,356	1,318	654	314	131	75
EBITDA	103	163	270	-156	-3	11	12
Operating Income	343	156	266	-158	-4	8	-1
Net Income	64	145	227	-187	4	9	10
EPS	0.11	0.46	0.79	-0.88	0.02	0.04	0.05
Growth Rates
Total Revenue Growth	55.1%	2.9%	101.7%	108.0%	140.4%	74.0%	42.9%
EBITDA Growth	-60.5%	-39.5%	272.9%	-5493.3%	-124.6%	-7.6%	212.0%
Operating Income Growth	47.2%	-41.5%	268.8%	-3758.2%	-152.2%	640.6%	86.4%
Net Income Growth	-69.9%	-36.0%	221.1%	-4857.0%	-53.8%	-14.5%	189.0%
Margins
EBITDA Margin	4.9%	12.0%	20.5%	-23.8%	-0.9%	8.7%	16.3%
Operating Income Margin	16.1%	11.5%	20.2%	-24.1%	-1.3%	6.0%	-1.9%
Net Income Margin	3.0%	10.7%	17.2%	-28.7%	1.3%	6.5%	13.3%
Cash & Debt
Total Cash	806	890	756	614	16	43	23
Total Debt	861	20	2	1	1	1	10
Net Debt / (Cash)	56	-870	-754	-613	-15	-42	-14
Cash Flows
Net Cash from Operations	555	263	141	108	-97	3	1
Free Cash from Operations	524	240	124	100	-100	3	1
Returns to Shareholders
Dividends	0	28	27	12	-0	-0	-0
Share Repurchases	4	2	-0	-0	-0	-0	-0

$ Mil \| FY: 12/31	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/30/2025	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022
Filing Date	11/7/2025	8/8/2025	5/6/2025	3/3/2025	11/6/2024	8/6/2024	5/7/2024	2/29/2024	11/7/2023	8/8/2023	5/9/2023	3/1/2023
Key Financials Quarterly
Total Revenue	725	739	329	332	266	402	356	347	385	326	260	178
Ebitda	-61	157	55	-47	10	106	84	60	99	66	45	-32
Operating Income	167	143	52	-18	-3	94	83	59	98	65	45	-33
Net Income	-61	100	44	-19	6	80	78	50	84	52	41	-21
EPS	-0.27	0.33	0.15	-0.10	0.00	0.29	0.28	0.17	0.30	0.18	0.14	-0.13
Key Financials TTM
Total Revenue TTM	2,126	1,666	1,329	1,356	1,371	1,490	1,414	1,318	1,149	952	780	654
Ebitda TTM	103	175	124	154	261	349	309	270	177	-68	-121	-156
Operating Income TTM	343	173	125	156	233	334	305	266	175	-71	-123	-158
Net Income TTM	64	132	112	145	214	292	263	227	155	-110	-153	-187
Growth Rates Quarterly
Total Revenue Growth	172.9%	83.9%	-7.4%	-4.4%	-30.9%	23.4%	36.8%	95.2%	104.4%	111.6%	94.9%	70.7%
EBITDA Growth	-685.7%	47.7%	-35.3%	-178.5%	-89.4%	61.9%	85.7%	286.6%	167.0%	427.6%	336.4%	-1073.8%
Operating Income Growth	5286.9%	51.7%	-37.5%	-131.4%	-103.3%	45.4%	85.2%	280.0%	166.2%	421.4%	344.0%	-1244.2%
Net Income Growth	-1059.9%	25.2%	-42.9%	-137.7%	-92.4%	54.9%	88.7%	336.1%	146.2%	462.4%	517.3%	-277.7%
Margins Quarterly
EBITDA Margin	-8.4%	21.2%	16.6%	-14.2%	3.9%	26.4%	23.7%	17.3%	25.6%	20.1%	17.5%	-18.1%
Operating Income Margin	23.0%	19.3%	15.8%	-5.6%	-1.2%	23.4%	23.4%	17.0%	25.4%	19.9%	17.3%	-18.4%
Net Income Margin	-8.4%	13.5%	13.5%	-5.7%	2.4%	19.8%	21.9%	14.4%	21.8%	15.8%	15.9%	-11.9%
Cash & Debt
Total Cash	806	615	977	890	904	903	879	756	760	681	595	614
Total Debt	861	863	20	20	6	2	2	2	1	1	1	1
Net Debt / (Cash)	56	248	-958	-870	-898	-901	-878	-754	-759	-680	-594	-613
Cash Flows Quarterly
FCF from Operations	332	44	103	76	13	40	135	5	91	59	-14	-63
Cash Flows TTM
FCF from Operations TTM	555	236	232	263	192	270	290	141	73	111	85	108
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	1	2	1	2	-0	-0	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	16.2%	21.0%	90.8%	-29.7%	-4.6%	138.9%	123.8%	50.3%	91.8%	45.6%	29.2%	-20.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	8.4%	5.8%	51.0%	46.5%	83.5%	127.4%	106.0%	59.7%	40.7%	-16.8%	-24.2%	-32.2%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Single Segment	1,318	654	314	131	75
Total	1,318	654	314	131	75

Net Income by Segment

$ Mil	2024	2023	2022	2021	2020
Single Segment	227
Total	227

Price Behavior

Price Behavior

Market Price	$44.36
Market Cap ($ Bil)	11.4
First Trading Date	02/23/2007
Distance from 52W High	-31.6%
	50 Days	200 Days
DMA Price	$49.36	$45.84
DMA Trend	up	down
Distance from DMA	-10.1%	-3.2%
	3M	1YR
Volatility	68.2%	65.2%
Downside Capture	260.46	79.98
Upside Capture	157.16	116.68
Correlation (SPY)	39.1%	26.0%

CELH Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	3.28	2.29	2.14	1.67	0.86	1.10
Up Beta	3.34	1.66	1.83	1.28	0.89	0.96
Down Beta	0.77	2.73	2.92	3.43	0.85	1.28
Up Capture	55%	84%	40%	102%	106%	103%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	22	30	65	124	366
Down Capture	497%	306%	279%	125%	85%	104%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	19	32	57	121	381

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of CELH With Other Asset Classes (Last 1Y)
	CELH	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	51.7%	-1.8%	14.7%	67.3%	6.8%	-0.5%	-16.6%
Annualized Volatility	65.3%	13.9%	19.7%	19.3%	15.2%	17.6%	35.4%
Sharpe Ratio	0.90	-0.37	0.57	2.54	0.23	-0.18	-0.25
Correlation With Other Assets		22.7%	27.4%	5.0%	8.7%	18.3%	16.7%

ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of CELH With Other Asset Classes (Last 5Y)
	CELH	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	30.1%	5.8%	15.0%	18.9%	11.8%	5.1%	35.8%
Annualized Volatility	69.1%	13.0%	17.1%	15.5%	18.7%	18.9%	48.9%
Sharpe Ratio	0.68	0.24	0.71	0.98	0.51	0.18	0.63
Correlation With Other Assets		23.7%	40.3%	4.7%	9.0%	29.5%	22.8%

Based On 10-Year Data

		Comparison of CELH With Other Asset Classes (Last 10Y)
	CELH	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	50.5%	7.4%	14.9%	14.9%	6.7%	5.5%	69.9%
Annualized Volatility	70.3%	14.7%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	0.89	0.38	0.71	0.84	0.30	0.23	0.90
Correlation With Other Assets		23.8%	34.9%	5.6%	12.3%	27.9%	15.0%

Short Interest

Short Interest: As Of Date	11282025
Short Interest: Shares Quantity	17,226,968
Short Interest: % Change Since 11152025	7.0%
Average Daily Volume	6,890,456
Days-to-Cover Short Interest	2.50
Basic Shares Quantity	257,778,000
Short % of Basic Shares	6.7%

Returns Analyses

	Title
0	How Low Can Celsius Stock Really Go?
1	Celsius Stock Return Comparison
2	[10/14/2021] Celsius Holdings (CELH) Stock Price Forecast: AI Forecasts CELH Stock Price To Be Around $101.10 In A Month (Up 9.3%)
3	Celsius Total Shareholder Return (TSR): 39.5% in 2022 and 178.2% 3-yr returns (above peer average)
4	Celsius Holdings (CELH) Stock Return: AI Predicts CELH Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
11/6/2025	-24.8%	-25.1%	-26.1%
8/7/2025	17.3%	31.2%	36.6%
5/6/2025	4.8%	10.1%	18.3%
2/20/2025	27.8%	1.8%	29.0%
11/6/2024	-5.3%	-15.0%	-12.1%
8/6/2024	-2.3%	-8.0%	-21.7%
11/7/2023	-1.5%	-8.2%	-13.1%
8/8/2023	20.4%	27.5%	43.2%
...
SUMMARY STATS
# Positive	8	5	7
# Negative	6	9	7
Median Positive	9.8%	27.5%	35.7%
Median Negative	-5.5%	-12.8%	-13.1%
Max Positive	27.8%	41.8%	59.8%
Max Negative	-24.8%	-25.8%	-35.1%

	Forward Returns
11/6/2025	-24.8%	-25.1%	-26.1%
8/7/2025	17.3%	31.2%	36.6%
5/6/2025	4.8%	10.1%	18.3%
2/20/2025	27.8%	1.8%	29.0%
11/6/2024	-5.3%	-15.0%	-12.1%
8/6/2024	-2.3%	-8.0%	-21.7%
11/7/2023	-1.5%	-8.2%	-13.1%
8/8/2023	20.4%	27.5%	43.2%
11/3/2022	2.6%	-9.2%	35.7%
8/2/2022	1.8%	-9.9%	-0.1%
5/10/2022	14.8%	41.8%	59.8%
3/1/2022	3.2%	-25.8%	-9.0%
11/12/2021	-14.7%	-21.2%	-35.1%
8/12/2021	-5.8%	-12.8%	17.5%
SUMMARY STATS
# Positive	8	5	7
# Negative	6	9	7
Median Positive	9.8%	27.5%	35.7%
Median Negative	-5.5%	-12.8%	-13.1%
Max Positive	27.8%	41.8%	59.8%
Max Negative	-24.8%	-25.8%	-35.1%

SEC Filings

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Report Date	Filing Date	Filing
9302025	11072025	10-Q 9/30/2025
6302025	8082025	10-Q 6/30/2025
3312025	5062025	10-Q 3/31/2025
12312024	3032025	10-K 12/31/2024
9302024	11062024	10-Q 9/30/2024
6302024	8062024	10-Q 6/30/2024
3312024	5072024	10-Q 3/31/2024
12312023	2292024	10-K 12/31/2023
9302023	11072023	10-Q 9/30/2023
6302023	8082023	10-Q 6/30/2023
3312023	5092023	10-Q 3/31/2023
12312022	3012023	10-K 12/31/2022
9302022	11092022	10-Q 9/30/2022
6302022	8092022	10-Q 6/30/2022
3312022	5102022	10-Q 3/31/2022
12312021	3162022	10-K 12/31/2021

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Celsius (CELH)

Market Price (12/23/2025): $44.41 | Market Cap: $11.4 BilSector: Consumer Staples | Industry: Soft Drinks & Non-alcoholic Beverages

Celsius (CELH)

Market Price (12/23/2025): $44.41Market Cap: $11.4 BilSector: Consumer StaplesIndustry: Soft Drinks & Non-alcoholic Beverages

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

CELH Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Celsius (CELH)

Global Market Size

U.S. Market Size

Capital Allocation Decisions for Celsius (CELH) Over Last 3-5 Years

Share Repurchases

Share Issuance

Inbound Investments

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Celsius (CELH)

INDUSTRY: Soft Drinks & Non-alcoholic Beverages

Higher Op Mgn LTM (Value for CELH: 16.1%)

Higher CFO/Rev LTM (Value for CELH: 26.1%)

Higher Total Yield (Value for CELH: 0.6%)

SECTOR: Consumer Staples

Higher Rev Chg 3Y Avg | Lower P/S (Values for CELH: 57.5% | 5.4x)

Higher Rev Chg LTM (Value for CELH: 55.1%)

Higher Rev Chg 3Y Avg (Value for CELH: 57.5%)

Higher Op Mgn LTM (Value for CELH: 16.1%)

Higher CFO/Rev LTM (Value for CELH: 26.1%)

Higher FCF/Rev LTM (Value for CELH: 24.6%)

Higher Total Yield (Value for CELH: 0.6%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CELH: 57.5% | 5.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CELH: 57.5% | 33.3x)

Higher Rev Chg LTM (Value for CELH: 55.1%)

Higher Rev Chg 3Y Avg (Value for CELH: 57.5%)

Higher Op Mgn LTM (Value for CELH: 16.1%)

Higher CFO/Rev LTM (Value for CELH: 26.1%)

Higher FCF/Rev LTM (Value for CELH: 24.6%)

Higher Total Yield (Value for CELH: 0.6%)

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Market Price (12/23/2025): $44.41 | Market Cap: $11.4 Bil
Sector: Consumer Staples | Industry: Soft Drinks & Non-alcoholic Beverages

Market Price (12/23/2025): $44.41
Market Cap: $11.4 Bil
Sector: Consumer Staples
Industry: Soft Drinks & Non-alcoholic Beverages