At a glance
Celsius Holdings Inc is worth $7.08B, about 112 times its fiscal 2025 earnings. Revenue grew 85.5% to $2.52B in fiscal 2025, with 4.3% kept as profit; over 5 years it has grown 80.7% a year. It pays no dividend; it spent $8.0M buying back its shares over FY2021–FY2025. The stock returned −54.8% over the past year with dividends reinvested and −3.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 51.5% in the 2020 crash (S&P 500: 33.7%) and 46.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 5 months after the lows.
The business in plain English
Celsius develops and markets energy drinks and wellness products under three brands: CELSIUS, Alani Nu and Rockstar. Most are canned energy drinks in 12-ounce and 16-ounce sizes, many with zero sugar and few calories. It also offers single-serve powder sticks that mix with water, plus protein and other supplements. Its products reach shoppers in the US, Canada, Europe, the Middle East and Asia-Pacific through grocery and convenience stores, gyms, mass-market retailers and websites such as Amazon.
Celsius profits from the gap between what distributors and retailers pay and its production costs. Outside manufacturers called co-packers make most products for a per-case fee, and the company also runs its own plant. Celsius sources most ingredients and all packaging. It pays rebates, placement fees and other discounts to win shelf space. In fiscal 2025, gross margin, the share of revenue left after production costs, was 50.4%.
Pepsi is the main US and Canadian distributor for all three brands and accounted for 43.2% of fiscal 2025 revenue. Abroad, Suntory Group companies distribute CELSIUS in the UK, Ireland, Australia, New Zealand, France and the Benelux countries. Revenue rose 85.5% to $2.52 billion in fiscal 2025, the year Celsius added Alani Nu and took over Rockstar in the US and Canada. The annual report gives no clean revenue split by brand or region.
Price history
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CELH -54.8% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $817.9M, up 10.6% from a year earlier, and net income was $55.3M (-44.6%).
- For fiscal 2025, revenue was $2.52B (+85.5% year over year; +80.7% a year from FY2020 to FY2025) with a 4.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +80.7% good |
|---|---|
| Operating margin | 5.6% watch |
| Free cash flow margin | 12.9% good |
| Return on equity (FY2025) | 9.1% watch |
| Return on assets (FY2025) | 2.1% weak |
| Net cash (cash minus debt) | $-43.6M watch |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $130.7M | $8.5M | $2.8M |
| FY2021 | $314.3M | $3.9M | $-99.7M |
| FY2022 | $653.6M | $-187.3M | $99.9M |
| FY2023 | $1.32B | $226.8M | $123.8M |
| FY2024 | $1.36B | $145.1M | $239.5M |
| FY2025 | $2.52B | $108.0M | $323.4M |
Valuation snapshot
| Market value | $7.08B |
|---|---|
| P/E ratio | 111.9 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Celsius Holdings’s market value went from $94.7M at the end of 2016 to $7.08B on Oct 28, 2026, about 74.7 times as much; since the end of 2025 it is down 40%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $7.08B | -40.0% |
| 2025 | $11.79B | +90.5% |
| 2024 | $6.19B | -51.0% |
| 2023 | $12.63B | +59.3% |
| 2022 | $7.93B | +42.1% |
| 2021 | $5.58B | +54.8% |
| 2020 | $3.60B | +983.6% |
| 2019 | $332.7M | +87.5% |
| 2018 | $177.4M | -26.0% |
| 2017 | $239.8M | +153.1% |
| 2016 | $94.7M |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| CELH price data to Oct 28, 2026 | -38.8% | -54.8% | -19.3% | -3.0% | +44.7% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -38.8% |
| 2025 | +73.7% |
| 2024 | -51.7% |
| 2023 | +57.2% |
| 2022 | +39.5% |
| 2021 | +48.2% |
| 2020 | +941.6% |
| 2019 | +39.2% |
| 2018 | -33.9% |
| 2017 | +114.3% |
| 2016 | +26.3% |
| 2015 | +288.0% |
| 2014 | +47.1% |
| 2013 | +70.0% |
| 2012 | -4.8% |
| 2011 | -50.0% |
| 2010 | -91.7% |
| 2009 | +532.5% |
| 2008 | -75.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 91.4% over that stretch · deepest drop along the way 95.3%, back to its old high 9.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 31.3% over that stretch · deepest drop along the way 51.5%, back to its old high 2.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 20.3% over that stretch · deepest drop along the way 46.1%, back to its old high 5.3 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 4 open-market purchases ($1.8M) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Sep 14, 2026 | Damon DeSantis Director | buy | $553K |
| Sep 10, 2026 | John Fieldly Chief Executive Officer, Director | buy | $494K |
| Sep 15, 2026 | Damon DeSantis Director | buy | $447K |
| Sep 15, 2026 | Hal Kravitz Director | buy | $336K |
Who owns it
Large shareholders (13G filings)
| Chau Hoi Shuen Solina Holly | 9.8% | Dec 31, 2024 |
| Alani Holdings, LLC | 8.71% | Apr 1, 2025 |
| William H. Milmoe | 7.6% | Dec 31, 2025 |
| AllianceBernstein L.P. | 3.3% | Jun 30, 2026 |
ETFs with the most weight in CELH
| GRPM Invesco S&P MidCap 400 GARP ETF | 4.45% |
| BUZZ VanEck Social Sentiment ETF | 4.06% |
| LGRO Level Four Large Cap Growth Active ETF | 1% |
| QMID WisdomTree U.S. MidCap Quality Growth Fund | 0.89% |
| TMFX Motley Fool Next Index ETF | 0.52% |
| STXK Strive Small-Cap ETF | 0.34% |
| FNY First Trust Mid Cap Growth AlphaDEX Fund | 0.32% |
| JSMD Janus Henderson Small/Mid Cap Growth Alpha ETF | 0.29% |
What could go wrong
- Heavy dependence on Pepsi for distribution. Pepsi distributes all three brands in the US and Canada and made up 43.2% of fiscal 2025 revenue. A serious dispute or an end to the agreements could cut off much of Celsius's distribution.
- Pepsi's influence as shareholder and director. Pepsi owns preferred stock, a share class ranking ahead of common stock, and names two directors. Its interests may differ from other shareholders', whose stakes could shrink if the preferred converts.
- Folding in Alani Nu and Rockstar. Expected benefits may not materialize. The new brands could compete with CELSIUS for the same shoppers, hidden liabilities could surface, and if results disappoint, Celsius may have to take a large charge against earnings.
- Debt from the Alani Nu deal. Acquisition borrowing left total debt of $675 million, slightly above cash and investments of $631 million, as of June 30, 2026. Rising interest rates could raise borrowing costs and squeeze cash flow.
- Crowded field and shifting tastes. Most revenue comes from functional beverages, drinks pitched for energy or health benefits, a crowded field. Many distributors also handle rival drinks, and shifting tastes or failed launches could hurt sales.
- Rules on energy drinks and their marketing. Regulators such as the FDA could object to ingredients, labels or marketing. New warning labels, limits on energy drink sales or challenges to influencer and health claims could cut demand.
Recent events
- Executive or board change; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Major agreement signed; New debt or financial obligation
- Investor presentation or announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Celsius does not pay a dividend and paid none from fiscal 2021 through 2025, so there is no record of increases to judge. For income investors, that means any return comes only from share price changes. Drawing cash from the holding would mean cashing in shares, possibly at a low point. The company repurchased only about $8 million of its own stock over those five years. The share count rose 13.2% between August 2021 and July 2026, partly reflecting about 22.5 million shares issued in the Alani Nu deal.
The share price has swung hard in downturns. It fell 95.3% during the 2008 financial crisis, 51.5% in the 2020 COVID crash and 46.1% in January 2022, recovering each time within ten months. Over the three years to October 28, 2026, its deepest drop was 77.9%, and it was down 54.8% over one year. Single stocks carry more risk than diversified funds, which spread money across many companies.
Questions investors ask
Does Celsius pay a dividend?
No. Celsius does not pay a dividend and made no dividend payments from fiscal 2021 through 2025. It has repurchased only small amounts of stock, about $8 million over those five years. Cash has gone to deals and debt instead, including part of the $1.275 billion cash price for Alani Nu and about $197.8 million used to reduce borrowing in October 2025. Any return for shareholders has come from share price changes alone.
How does Celsius make money?
Celsius makes money from energy drinks and wellness products marketed under the CELSIUS, Alani Nu and Rockstar brands, mostly 12- and 16-ounce cans plus powder sticks. Co-packers, outside manufacturers paid per case, make most of them. Celsius earns the difference between production costs and what distributors and retailers pay, after rebates and placement fees. In fiscal 2025, revenue was $2.52 billion, gross margin was 50.4% and net income was $108 million. Pepsi, its main distributor, accounted for 43.2% of revenue.
How much does Celsius depend on Pepsi?
Heavily. Pepsi is the primary distributor for CELSIUS, Alani Nu and Rockstar in the US and Canada, and sales to Pepsi made up 43.2% of revenue in fiscal 2025. Pepsi also owns preferred stock and names two board members. Under an arrangement called the Captaincy, Pepsi agreed to make reasonable efforts to distribute Celsius products under jointly set priorities. Apart from termination for cause, either side can first exit the distribution agreement in 2041, with 12 months' notice.
What is Celsius's P/E ratio?
About 112 as of October 28, 2026, based on fiscal 2025 earnings of $0.25 per share and a market value of about $7.1 billion. The price-to-earnings ratio shows how many dollars investors pay for each dollar of yearly profit. It is high partly because profit fell as revenue grew: fiscal 2025 revenue rose 85.5%, but net income dropped 25.6%. In the quarter ended June 30, 2026, revenue rose 10.6% from a year earlier while net income fell 44.6%.
How volatile is Celsius stock?
Very volatile. As of October 28, 2026, the shares were down 54.8% over one year and 38.8% year to date, and their deepest drop over three years was 77.9%. Over five years they lost 14% in total, yet over ten years they gained about 3,916%. Calendar years show the swings: a 941.6% gain in 2020, a 51.7% loss in 2024 and a 73.7% gain in 2025. Volatility, a measure of how much the price swings, was 63.6% for the year to that date.