At a glance
Molson Coors Brewing Co is worth $7.64B. Revenue fell 5.1% to $13.04B in fiscal 2025, at a loss; over 5 years it has grown 2.2% a year. It pays a 4.42% dividend yield, raised every year for at least 5 years, and returned $3.13B to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +3.3% over the past year with dividends reinvested and +2.2% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 36.9% in the 2020 crash (S&P 500: 33.7%) and 20.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months and 7 months after the lows.
The business in plain English
Molson Coors is one of the world's five largest brewers. Its core beers include Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling and Ožujsko. It also sells pricier brands such as Madrí Excepcional, Staropramen and Blue Moon, value brands such as Miller High Life and Keystone Light, plus Vizzy Hard Seltzer, spirits and non-alcoholic drinks. Partner brands include Simply Spiked, ZOA Energy and Fever-Tree.
It makes money by brewing and packaging drinks and selling them, largely through distributors, to stores, bars and restaurants. In the U.S. it depends on independent distributors. In Canada it uses distribution partnerships. It also brews for The Yuengling Company and, in the U.K., resells other companies' drinks to bars and restaurants. Sales are seasonal: about 40% of volume comes from May through August.
The Americas segment (the U.S., Canada and parts of Latin America) brought in $8.7 billion in 2025, about 67% of revenue. Coors Light and Miller Lite alone made up roughly 55% of that segment's net sales. The EMEA&APAC segment (Europe, the Middle East, Africa and Asia Pacific) brought in $2.5 billion, about 19%, and the U.K. supplied over 55% of its net sales. Key rivals include Anheuser-Busch InBev, Constellation Brands, Heineken, Asahi and Carlsberg.
Price history
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TAP +3.3% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Americas | $8.71B | 66.8% |
| EMEA&APAC | $2.46B | 18.8% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $3.60B, down 3.6% from a year earlier, and net income was $231.7M (-46.0%).
- For fiscal 2025, revenue was $13.04B (-5.1% year over year; +2.2% a year from FY2020 to FY2025) with a -16.4% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +2.2% watch |
|---|---|
| Operating margin | -17.9% weak |
| Free cash flow margin | 8.2% watch |
| Return on equity (FY2025) | -20.9% weak |
| Return on assets (FY2025) | -9.4% weak |
| Net cash (cash minus debt) | $-5.58B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $11.72B | $-949.0M | $1.12B |
| FY2021 | $12.45B | $1.01B | $1.05B |
| FY2022 | $12.81B | $-175.3M | $840.6M |
| FY2023 | $13.88B | $948.9M | $1.41B |
| FY2024 | $13.73B | $1.12B | $1.24B |
| FY2025 | $13.04B | $-2.14B | $1.07B |
Valuation snapshot
| Market value | $7.64B |
|---|---|
| P/E ratio | — |
| Dividend yield | 4.42% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| TAP price data to Nov 2, 2026 | -4.2% | +3.3% | -5.9% | +2.2% | -5.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -4.2% |
| 2025 | -15.6% |
| 2024 | -3.4% |
| 2023 | +22.1% |
| 2022 | +14.4% |
| 2021 | +4.1% |
| 2020 | -15.2% |
| 2019 | -0.5% |
| 2018 | -29.9% |
| 2017 | -14.1% |
| 2016 | +5.3% |
| 2015 | +28.7% |
| 2014 | +35.7% |
| 2013 | +34.7% |
| 2012 | +1.3% |
| 2011 | -10.7% |
| 2010 | +13.9% |
| 2009 | -5.7% |
| 2008 | -3.8% |
| 2007 | +36.9% |
| 2006 | +15.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 39.9% over that stretch · deepest drop along the way 43.6%, back to its old high 49.3 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 36.3% over that stretch · deepest drop along the way 36.9%, back to its old high 10.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 5.3% over that stretch · deepest drop along the way 20.7%, back to its old high 6.6 months after the low |
Insider activity
Form 4 filings from 2025-10-31 to 2026-10-31 (25 read): 0 open-market purchases and 1 sales ($53K).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 21, 2026 | Geoffrey E. Molson Director | sell | $53K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 10.6% | Sep 30, 2026 |
| Dodge & Cox | 10% | Sep 30, 2025 |
| Vanguard Portfolio Management | 7.05% | Sep 30, 2026 |
| AQR Capital Management, LLC | 6.34% | Jun 30, 2026 |
| Dimensional Fund Advisors LP | 5% | Jun 30, 2026 |
| STATE STREET CORPORATION | 4.8% | Dec 31, 2025 |
| Vanguard Capital Management | 4.61% | Sep 30, 2026 |
ETFs with the most weight in TAP
| FXG First Trust Consumer Staples AlphaDEX Fund | 4.24% |
| FTXG First Trust Nasdaq Food & Beverage ETF | 3.83% |
| KEAT Keating Active ETF | 3.32% |
| MDPL Monarch Dividend Plus ETF | 3.26% |
| PBJ Invesco Food & Beverage ETF | 2.85% |
| RSPS Invesco S&P 500 Equal Weight Consumer Staples ETF | 2.7% |
| LYLD Cambria Large Cap Shareholder Yield ETF | 2.56% |
| PSL Invesco Dorsey Wright Consumer Staples Momentum ETF | 2.55% |
What could go wrong
- Heavy reliance on Coors Light and Miller Lite. These two beers made up about 55% of Americas segment net sales in 2025. A lasting shift in drinkers' tastes away from them, or from mainstream beer, could hurt results badly.
- Two controlling holders can block decisions. Matters put to a shareholder vote generally fail unless Pentland and the Coors Trust agree. Their interests may differ from other investors', so a deadlock can block steps other shareholders or the board favor.
- New CEO and Americas restructuring. A new chief executive took over October 1, 2025, and salaried Americas jobs were cut under a plan announced October 20, 2025. Costs could run higher, savings could fall short, and staff could leave.
- Drinkers drifting from beer and alcohol. Beer has lost ground to wine, spirits and ready-to-drink cocktails. The company also flags non-alcoholic drinks, health trends and GLP-1 weight-loss drugs as forces that could shrink demand.
- Sizable debt load. As of June 30, 2026, total debt was $7.7 billion against $2.1 billion of cash and investments. Debt agreements carry restrictions, and a credit-rating downgrade could raise borrowing costs or make refinancing harder.
- Input costs, tariffs and few packaging suppliers. Commodity and packaging costs can jump with inflation and tariffs. Molson Coors buys key materials, especially packaging, from a small number of suppliers, so a disruption there could curb production.
Recent events
- Quarterly results released
- Executive or board change
- Major agreement signed; New debt or financial obligation
- Other company announcement
- Shareholder vote results
- Quarterly results released
- Quarterly results released; Investor presentation or announcement; Other company announcement
- Executive or board change
- Quarterly results released
For income and retirement investors
Molson Coors pays a regular dividend, and dividends per share have risen five years in a row, from $0.57 in 2020 to $1.88 in 2025, about 27% a year. That pace is flattered by low payouts in 2020 and 2021. The dividend yield was 4.87% as of October 28, 2026. The company reported a net loss in 2025, so earnings did not cover the dividend. Dividends still used only about 35% of free cash flow (cash left after running and investing in the business). It also spent $648 million on buybacks in 2025 and $1.55 billion from 2021 through 2025, close to the $1.58 billion it paid in dividends.
In past downturns, the shares fell 43.6% around the 2008 financial crisis and took about 49 months to recover. They fell 36.9% in the 2020 COVID crash and recovered in about 10 months. During the 2022 bear market they rose 5.3%. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Molson Coors make money?
Molson Coors makes money by brewing and selling beer and other drinks, mostly through distributors, to stores, bars and restaurants. Its main brands include Coors Light, Miller Lite, Molson Canadian, Carling, Blue Moon and Staropramen. In 2025 the Americas segment brought in $8.7 billion, about 67% of revenue. The Europe, Middle East, Africa and Asia Pacific segment brought in $2.5 billion, about 19%. It also sells hard seltzer, spirits, non-alcoholic drinks and partner brands such as Fever-Tree.
Does Molson Coors raise its dividend every year?
It has for the past five years. Dividends per share rose from $0.57 in 2020 to $0.68 in 2021, $1.52 in 2022, $1.64 in 2023, $1.76 in 2024 and $1.88 in 2025. The low 2020 and 2021 payouts make the average growth rate of about 27% a year look faster than the smaller increases since 2023. In 2025, dividends used about 35% of free cash flow. The dividend yield was 4.87% as of October 28, 2026.
Is Molson Coors profitable?
Not in 2025. Molson Coors posted a net loss of $2.14 billion, or $10.75 per diluted share, after earning $1.12 billion in 2024. Revenue fell 5.1% to $13.04 billion. The business still produced $1.07 billion of free cash flow, which is the cash left after running and investing in it. In the quarter ended June 30, 2026, it earned $231.7 million. That was 46% less than a year earlier, and revenue was down 3.6%.
How has Molson Coors stock performed over the long term?
Poorly over the past decade. As of October 28, 2026, the share price was down 51% over 10 years, about 6.9% a year. It was up 5% over five years and down 23% over three years. It fell 15.56% in 2025 and 13.05% in 2026 through October 28. These figures track the share price alone, so they leave out dividends, which offset part of the decline. The deepest drop in about 21 years of price history was 67.7%.
Who controls Molson Coors?
Two controlling stockholders, Pentland and the Coors Trust. The company's filings say a matter put to a shareholder vote generally fails unless both agree, even if other stockholders or most of the board favor it. Their interests may also differ from those of other investors. Big fund managers hold large stakes too: BlackRock reported 10.6% as of September 30, 2026, and Dodge & Cox reported 10% as of September 30, 2025.