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Celsius Holdings, Inc. (CELH) stock analysis

CELHNasdaqBottled & Canned Soft Drinks & Carbonated WatersFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 5, 2026Score 16/3029% below fair value
$33.04+0.24 (+0.73%)

Close on Nov 11, 2026Market cap $8.36BP/E 37.1Yield –

StockData Score

Prices as of Nov 11, 2026How the score works

Value4Growth3Performance5Health4Dividend0

Solid16 of 30 checks passed

Celsius passes 16 of the 30 checks behind our score; 8 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.

Valuation
4/6
Growth
3/6
Past performance
5/6
Financial health
4/6
Dividend
0/6

What stands out

  • Margin of safety over 20%

    The price is 28.7% below fair value, more than the 20% cushion we look for.

  • Trading below fair value

    The share price of $33.04 is below our fair value estimate of $46.37.

  • Return on capital over 10%

    Return on invested capital was 27.9%, above the 10% that usually covers the cost of capital.

  • Earnings grew over 5 years

    Net income grew 66.2% a year on average over the last five fiscal years.

What to watch

  • Return on equity under 15%

    Return on equity was 25.6% over the last twelve months and averaged 12.7% over five years; we look for 15% on both.

  • High debt

    Debt is 52.9% of shareholders' equity, above the 40% we consider low.

  • P/E above the industry

    Celsius's P/E of 37.1 is above the Beverages median of 32.8.

  • P/B above the industry

    Celsius's price-to-book of 6.56 is above the Beverages median of 2.94.

Valuation4/6

  • P/E below its 5-year median

    Celsius's P/E of 37.1 is below its own 5-year median of 109.3.

  • P/E above the industry

    Celsius's P/E of 37.1 is above the Beverages median of 32.8.

  • EV/EBITDA below its 5-year median

    Celsius's EV/EBITDA of 18.5 is below its 5-year median of 52.5.

  • P/B above the industry

    Celsius's price-to-book of 6.56 is above the Beverages median of 2.94.

  • Trading below fair value

    The share price of $33.04 is below our fair value estimate of $46.37.

  • Margin of safety over 20%

    The price is 28.7% below fair value, more than the 20% cushion we look for.

Growth3/6

  • Revenue growing 10%+ a year

    Revenue grew 56.7% a year over the last three fiscal years.

  • EPS growth over 3 years

    Needs positive EPS three years ago and today.

  • Earnings growth accelerating

    Net income grew 392% over the last twelve months, against a 5-year average of 66.2% a year.

  • Growing faster than the industry

    Revenue grew 49.1% over the last twelve months; the Beverages median is 4.5%.

  • Company guidance

    No outlook found in earnings releases from the last twelve months.

  • Gross margin slipping

    Gross margin was 47.6% over the last twelve months, against 51.4% a year earlier.

Past performance5/6

  • Return on equity under 15%

    Return on equity was 25.6% over the last twelve months and averaged 12.7% over five years; we look for 15% on both.

  • Return on capital over 10%

    Return on invested capital was 27.9%, above the 10% that usually covers the cost of capital.

  • Return on equity above the industry

    Celsius's return on equity of 25.6% is above the Beverages median of 16.5%.

  • Earnings grew over 5 years

    Net income grew 66.2% a year on average over the last five fiscal years.

  • Net margin above its 5-year average

    Net margin was 10.0% over the last twelve months, against a 5-year average of 1.0%.

  • Net margin above the industry

    Celsius's net margin of 10.0% is above the Beverages median of 7.3%.

Financial health4/6

  • High debt

    Debt is 52.9% of shareholders' equity, above the 40% we consider low.

  • Debt trend

    Needs a balance sheet from five years ago with positive equity.

  • Debt covered by cash flow

    Operating cash flow over the last twelve months equals 49.0% of total debt.

  • Interest well covered

    Operating income covers interest expense 8.7 times.

  • Short-term assets cover short-term debts

    Current assets are 1.97 times current liabilities.

  • Low bankruptcy risk

    The Altman Z-score is 3.58; above 3 is the safe zone and below 1.8 the distress zone.

Dividend0/6

  • No dividend

    Celsius has not paid a dividend in the last twelve months.

  • Yield against Treasuries

    No dividend.

  • Yield against the market

    No dividend.

  • Dividend stability

    No dividend.

  • Earnings cover

    No dividend.

  • Cash-flow cover

    No dividend.

Scores of similar companies

Fair value

How we estimate it

Our estimate per share

$46.37

The share price is 29% below this estimate.

20%+ below
Near fair value
20%+ above
$33.04Price$46.37Fair value
MethodMultiple usedOwn 5Y medianIndustry medianValue per shareWeight
P/E45.0×109.3×32.8×$40.0553%
EV/EBITDA30.0×52.5×15.0×$53.5947%
Earnings powerleft out, too far from the others12.4% cost of equity––$7.69–
Fair value$46.37100%

Valuation over time

Using the earnings and balance sheet published at each date, not today's.

  • P/E at month end
  • Own 5-year median 109
  • Beverages median 32.8

An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.

Market risk

From the past year of daily prices.

Liquidity

Low risk

Average value traded per day
$168.52M
Value traded per 1% price move
$91.58M

Downside

High risk

Typical loss in a bad month
27.2%
Volatility (annualized)
56%
Sharpe ratio, 1 year
-0.54
Beta to the S&P 500 (5Y)
1.50

Typical bad-month loss, week by week

25%: high

Margins

Share of revenue, fiscal years 2014 to 2025

Gross margin

50.4%+3.7 pts over 5 years

Operating margin

5.6%−0.4 pts over 5 years

Net margin

4.3%−2.2 pts over 5 years

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