A Business at a Glance
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MOLSON COORS BEVERAGE CO
TAP
$8.2B
Mkt Cap
$40.95
+2.27%
MOLSON COORS BEVERAGE CO (TAP) has a 5-year average return on invested capital (ROIC) of 1.4%. This is below average and may indicate limited pricing power.
MOLSON COORS BEVERAGE CO (TAP) has a market capitalization of $8.2B. It is classified as a mid-cap stock.
Yes, MOLSON COORS BEVERAGE CO (TAP) pays a dividend with a trailing twelve-month yield of 4.62%. The company also returns capital through share buybacks, with a buyback yield of 7.95%.
MOLSON COORS BEVERAGE CO (TAP) operates in the Malt Beverages industry, within the Consumer Defensive sector.
MOLSON COORS BEVERAGE CO (TAP) reported annual revenue of $13.0 billion in its most recent fiscal year, based on SEC EDGAR filings.
MOLSON COORS BEVERAGE CO (TAP) has a net profit margin of -16.4%. The company is currently unprofitable.
MOLSON COORS BEVERAGE CO (TAP) generated $1.1 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Molson Coors Beverage Company is a global brewer and beverage company with two operating segments—Americas and EMEA&APAC—that manufactures, markets, and distributes a diverse portfolio of beer and non-alcoholic beverages across more than two centuries of heritage. The company's core power brands include Coors Light, Miller Lite, Coors Banquet, Molson Canadian, and Carling, complemented by above-premium offerings such as Blue Moon, Peroni, and Madrí Excepcional, as well as value brands like Miller High Life and Keystone Light; the company has expanded beyond beer into hard seltzers (Vizzy, Topo Chico), spirits, non-alcoholic beverages, and premium mixers through owned brands and partnership arrangements with companies including Fever-Tree, Simply Spiked, and ZOA Energy. The business model is asset-intensive, with nine primary breweries and three craft breweries in the Americas and ten primary breweries and three craft breweries in EMEA&APAC, generating revenue through direct sales and distribution partnerships; the company earns money primarily through volume sales at negotiated price points across on-premise (bars, restaurants) and off-premise (retail) channels, with pricing power constrained by competitive intensity and consumer preferences. The company competes with major global brewers including Anheuser-Busch InBev, Heineken, Asahi, and Carlsberg, as well as regional and craft brewers, and faces ongoing category pressure from wine, spirits, and spirits-based ready-to-drink beverages; competitive differentiation rests on brand recognition, portfolio breadth across price segments, distribution scale, and the ability to anticipate consumer shifts toward premiumization and non-alcoholic options. The company operates across North America (U.S., Canada, Latin America) and EMEA&APAC (U.K., Central Europe, and select Middle East, Africa, and Asia-Pacific markets), with the U.K. representing over 55% of EMEA&APAC segment net sales, and is subject to extensive regulation including excise taxes, licensing, and marketing restrictions that vary significantly by jurisdiction.
【Navigating macro headwinds, pursuing growth】 Management is executing a transformation to become a total beverage company while managing near-term macroeconomic uncertainty and elevated commodity costs, particularly Midwest Premium pricing. The company expects U.S. industry volume to improve versus the down 5% experienced in 2025, with management taking targeted actions behind core power brands, pursuing premiumization opportunities (particularly in above-premium segments where the company meaningfully underindexes in the U.S.), and expanding into adjacent categories including non-alcoholic beverages and energy drinks. Cost pressures from elevated Midwest Premium and base aluminum are expected to persist through 2026, with the largest inflationary impact anticipated in the second quarter, though the company has meaningful hedge coverage for the balance of the year; management is offsetting these headwinds through a three-year $450 million cost savings program and disciplined capital allocation. The company remains focused on returning to sustainable growth through commercial execution, capability investments, technology modernization, and strategic M&A that is accretive to both top and bottom line, while maintaining its target leverage ratio below 2.5 times and continuing to return cash to shareholders through dividends and share repurchases.
| Metric | Target | Period |
|---|---|---|
| U.S. Industry Volume | improve versus down 5% in 2025 | FY2026 |
| Net Price Increase (North America) | 1%-2% | FY2026 |
| Midwest Premium Cost Impact | elevated relative to 2025 | FY2026 |
| Monaco Acquisition Contribution | about 1% to global NSR on a trailing 12-month basis, with incremental profitability in year one | FY2026 |
| Stock Repurchase Authorization | up to $4 billion | through December 31, 2031 |
U.S. Industry Volume (FY2026): “We continue to expect the full year 2026 U.S. industry volume trend to improve versus the down 5% we experienced in 2025”
Net Price Increase (North America) (FY2026): “We continue to expect an annual net price increase of 1%-2% in North America, in line with the average historical range”
Midwest Premium Cost Impact (FY2026): “On Midwest Premium, we continue to expect elevated costs relative to 2025. For the balance of 2026, we believe we have meaningful hedge coverage, meaning that the impact of the recent rise in prices since February should be a manageable headwind.”
Monaco Acquisition Contribution (FY2026): “we expect Monaco to contribute about 1% to global NSR on a trailing 12-month basis, while also delivering incremental profitability in year one with 9 months in our portfolio”
Stock Repurchase Authorization (through December 31, 2031): “we announced that we had increased both the amount and the duration of our stock repurchase program, increasing our total authorization to up to $4 billion through December 31, 2031”
Generated solely from the company's own reports listed below — not from third-party data. Hallucination risk is low. · Sources: 10-K, Q4 FY2025 Earnings Call, Q2 FY2025 Earnings Call, Q1 FY2025 Earnings Call, Q4 FY2024 Earnings Call
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 13.0B | 13.0B | 13.7B | 13.9B | 12.8B | 12.4B |
| Net Income | -2.1B | -2.1B | 1.1B | 949M | -175M | 1.0B |
| EPS | $-10.75 | $-10.75 | $5.35 | $4.37 | $-0.81 | $4.62 |
| Free Cash Flow | 1.1B | 1.1B | 1.2B | 1.4B | 841M | 1.1B |
| ROIC | -11.7% | -12.8% | 7.3% | 5.9% | 0.8% | 5.9% |
| Gross Margin | 32.8% | 32.8% | 33.0% | 31.5% | 28.5% | 32.6% |
| Debt/Equity | 0.64 | 0.64 | 0.49 | 0.49 | 0.53 | 0.54 |
| Dividends/Share | $1.89 | $1.88 | $1.76 | $1.64 | $1.52 | $0.68 |
| Operating Income | -2.3B | -2.3B | 1.8B | 1.4B | 158M | 1.5B |
| Operating Margin | -17.9% | -17.9% | 12.8% | 10.4% | 1.2% | 11.7% |
| ROE | -20.9% | -18.3% | 8.5% | 7.3% | -1.3% | 7.8% |
| Shares Outstanding | 199M | 199M | 210M | 217M | 216M | 218M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 5.9B | 3.6B | 6.6B | 13.5B | 13.3B | 13.0B | 11.7B | 12.4B | 12.8B | 13.9B | 13.7B | 13.0B | 13.0B |
| Gross Margin | 27.9% | 39.4% | 28.6% | 35.4% | 31.4% | 32.3% | 32.1% | 32.6% | 28.5% | 31.5% | 33.0% | 32.8% | 32.8% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 1.2B | 1.1B | 1.6B | 3.1B | 2.8B | 2.7B | 2.4B | 2.6B | 2.6B | 2.8B | 2.7B | 2.6B | 2.6B |
| EBIT | 727M | 522M | 3.3B | 1.7B | 1.6B | 764M | -409M | 1.5B | 158M | 1.4B | 1.8B | -2.3B | -2.3B |
| Op. Margin | 12.3% | 14.6% | 50.4% | 12.5% | 12.2% | 5.9% | -3.5% | 11.7% | 1.2% | 10.4% | 12.8% | -17.9% | -17.9% |
| Net Income | 514M | 360M | 1.6B | 1.6B | 1.1B | 242M | -949M | 1.0B | -175M | 949M | 1.1B | -2.1B | -2.1B |
| Net Margin | 8.7% | 10.1% | 24.2% | 11.6% | 8.4% | 1.9% | -8.1% | 8.1% | -1.4% | 6.8% | 8.2% | -16.4% | -16.4% |
| Non-Recurring | 324M | 347M | 25M | 2.6M | 35M | 727M | 3.2B | 45M | 845M | 0 | 0 | 3.6B | 3.6B |
| Returns on Capital | |||||||||||||
| ROIC | 6.0% | 5.0% | 12.3% | 7.2% | 5.9% | 2.0% | -4.6% | 5.9% | 0.8% | 5.9% | 7.3% | -12.8% | -11.7% |
| ROE | 6.5% | 5.1% | 17.3% | 12.8% | 8.4% | 1.8% | -7.4% | 7.8% | -1.3% | 7.3% | 8.5% | -18.3% | -20.9% |
| ROA | 3.7% | 2.9% | 7.7% | 5.3% | 3.7% | 0.8% | -3.4% | 3.7% | -0.7% | 3.6% | 4.3% | -8.8% | -9.4% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 1.3B | 716M | 1.1B | 1.9B | 2.3B | 1.9B | 1.7B | 1.6B | 1.5B | 2.1B | 1.9B | 1.8B | 1.8B |
| Free Cash Flow | 1.0B | 441M | 785M | 1.3B | 1.7B | 1.3B | 1.1B | 1.1B | 841M | 1.4B | 1.2B | 1.1B | 1.1B |
| Owner Earnings | 936M | 383M | 709M | -289M | -270M | 1.0B | 750M | 755M | 784M | 1.4B | 1.1B | 1.0B | 1.0B |
| CapEx | 260M | 275M | 342M | 600M | 652M | 594M | 575M | 523M | 661M | 672M | 674M | 717M | 717M |
| Maint. CapEx | 313M | 314M | 388M | 2.1B | 2.6B | 859M | 922M | 786M | 685M | 683M | 759M | 711M | 711M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5.3M | 5.3M |
| D&A | 313M | 314M | 388M | 2.1B | 2.6B | 859M | 922M | 786M | 685M | 683M | 759M | 711M | 711M |
| CapEx/OCF | 20.4% | 38.4% | 30.3% | 32.1% | 28.0% | 31.3% | 33.9% | 33.2% | 44.0% | 32.3% | 35.3% | 40.2% | 40.2% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 274M | 303M | 353M | 353M | 354M | 424M | 125M | 148M | 329M | 355M | 369M | 376M | 376M |
| Dividend Yield | 2.9% | 2.7% | 2.7% | 2.1% | 2.9% | 4.1% | 1.6% | 1.6% | 3.3% | 3.0% | 3.2% | 3.8% | 4.6% |
| Share Buybacks | 0 | 150M | 0 | 0 | 0 | 0 | 0 | 0 | 52M | 206M | 643M | 648M | 648M |
| Buyback Yield | N/A | 1.1% | N/A | N/A | N/A | N/A | N/A | N/A | 0.5% | 1.7% | 5.6% | 7.1% | 7.9% |
| Stock-Based Comp | 24M | 18M | 30M | 58M | 43M | 8.5M | 24M | 32M | 34M | 45M | 43M | 35M | 35M |
| Debt Repayment | 74M | 701M | 224M | 3.0B | 320M | 1.6B | 919M | 1.0B | 509M | 405M | 884M | 13M | 13M |
| Balance Sheet | |||||||||||||
| Net Debt | 2.8B | 2.1B | 11.5B | 10.9B | 9.4B | 8.7B | 7.6B | 6.7B | 6.1B | 5.6B | 5.4B | 5.6B | 5.6B |
| Cash & Equiv. | 625M | 431M | 561M | 419M | 1.1B | 523M | 770M | 637M | 600M | 869M | 969M | 897M | 897M |
| Long-Term Debt | 2.3B | 2.9B | 11.4B | 10.6B | 8.9B | 8.1B | 7.2B | 6.6B | 6.2B | 5.3B | 6.1B | 3.9B | 3.9B |
| Debt/Equity | 0.51 | 0.42 | 1.06 | 0.87 | 0.78 | 0.69 | 0.68 | 0.54 | 0.53 | 0.49 | 0.49 | 0.64 | 0.64 |
| Interest Coverage | 5.0 | 4.3 | 12.2 | 4.8 | 5.3 | 2.7 | -1.5 | 5.6 | 0.6 | 6.1 | 7.6 | -9.6 | -9.6 |
| Equity | 7.9B | 7.0B | 11.4B | 13.0B | 13.5B | 13.4B | 12.4B | 13.4B | 12.7B | 13.2B | 13.1B | 10.2B | 10.2B |
| Total Assets | 14.0B | 12.3B | 29.3B | 30.2B | 30.1B | 28.9B | 27.3B | 27.6B | 25.9B | 26.4B | 26.1B | 22.7B | 22.7B |
| Total Liabilities | 6.1B | 5.2B | 17.7B | 17.1B | 16.4B | 15.2B | 14.7B | 14.0B | 13.0B | 12.9B | 12.6B | 12.2B | 12.2B |
| Intangibles | 5.8B | 4.7B | 14.0B | 14.3B | 13.8B | 13.7B | 13.6B | 13.3B | 12.8B | 12.6B | 12.2B | 12.0B | 12.0B |
| Retained Earnings | 4.4B | 4.5B | 6.1B | 7.0B | 7.7B | 7.6B | 6.5B | 7.4B | 6.9B | 7.5B | 8.2B | 5.7B | 5.7B |
| Working Capital | -748M | 42M | -988M | -1.2B | -1.5B | -1.5B | -1.5B | -844M | -737M | -1.2B | -197M | -2.4B | -2.4B |
| Current Assets | 1.6B | 1.3B | 2.2B | 2.2B | 2.8B | 2.2B | 2.4B | 2.8B | 2.6B | 2.8B | 2.8B | 2.9B | 2.9B |
| Current Liabilities | 2.3B | 1.2B | 3.2B | 3.4B | 4.3B | 3.7B | 3.9B | 3.6B | 3.4B | 4.1B | 3.0B | 5.3B | 5.3B |
| Per Share Data | |||||||||||||
| EPS | 2.76 | 1.93 | 9.34 | 6.53 | 5.15 | 1.11 | -4.38 | 4.62 | -0.81 | 4.37 | 5.35 | -10.75 | -10.75 |
| Owner EPS | 5.03 | 2.06 | 4.15 | -1.20 | -1.25 | 4.73 | 3.46 | 3.47 | 3.62 | 6.22 | 5.28 | 5.22 | 5.22 |
| Book Value | 42.22 | 37.81 | 66.91 | 54.13 | 62.30 | 61.63 | 57.07 | 61.64 | 58.63 | 60.77 | 62.41 | 51.40 | 51.40 |
| Cash Flow/Share | 6.83 | 3.84 | 6.60 | 7.78 | 10.75 | 8.71 | 7.83 | 7.23 | 6.94 | 9.57 | 9.11 | 8.97 | -7.18 |
| Dividends/Share | 1.48 | 1.64 | 1.64 | 1.64 | 1.64 | 1.96 | 0.57 | 0.68 | 1.52 | 1.64 | 1.76 | 1.88 | 1.89 |
| Shares Out. | 186.2M | 186.3M | 170.7M | 239.8M | 216.8M | 217.7M | 216.7M | 217.7M | 216.4M | 217.1M | 209.8M | 199.0M | 199.0M |
| Valuation | |||||||||||||
| P/E Ratio | 20.8 | 37.5 | 8.2 | 9.1 | 8.9 | 41.3 | N/A | 8.7 | N/A | 13.0 | 10.3 | N/A | -3.8 |
| P/FCF | 10.6 | 30.5 | 16.6 | 12.4 | 5.9 | 7.7 | 7.6 | 8.3 | 11.9 | 8.7 | 9.4 | 8.6 | 7.6 |
| EV/EBIT | 18.5 | 29.8 | 8.4 | 15.2 | 12.2 | 24.7 | N/A | 10.4 | 100.1 | 12.3 | 9.0 | N/A | N/A |
| Price/Book | 1.4 | 1.9 | 1.4 | 1.1 | 0.7 | 0.7 | 0.7 | 0.6 | 0.8 | 0.9 | 0.9 | 0.9 | 0.8 |
| Price/Sales | 1.6 | 3.1 | 3.3 | 1.1 | 0.9 | 0.8 | 0.7 | 0.8 | 0.8 | 0.9 | 0.8 | 0.8 | 0.6 |
| FCF Yield | 9.5% | 3.3% | 4.8% | 8.9% | 16.9% | 13.1% | 13.2% | 12.1% | 8.4% | 11.4% | 10.7% | 11.7% | 13.1% |
| Market Cap | 10.7B | 13.5B | 16.3B | 14.2B | 10.0B | 10.0B | 8.5B | 8.7B | 10.0B | 12.3B | 11.6B | 9.1B | 8.2B |
| Avg. Price | 50.07 | 59.63 | 76.31 | 71.25 | 55.55 | 47.45 | 36.05 | 42.99 | 46.37 | 54.38 | 54.61 | 50.37 | 40.95 |
| Year-End Price | 57.48 | 72.28 | 76.28 | 65.73 | 45.93 | 45.85 | 39.18 | 40.03 | 46.24 | 56.68 | 55.18 | 45.95 | 40.95 |
MOLSON COORS BEVERAGE CO passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 6.8x vs a median of 8.7x. The company's 5-year average ROIC is 1.4% with a gross margin of 31.7%. Total shareholder yield (dividends + buybacks) is 12.6%. At current prices, the estimated annualized return to fair value is +0.1%.
MOLSON COORS BEVERAGE CO (TAP) has a debt-to-equity ratio of 0.64. This indicates moderate leverage.
MOLSON COORS BEVERAGE CO (TAP) reported earnings per share (EPS) of $-10.75 in its most recent fiscal year.
MOLSON COORS BEVERAGE CO (TAP) has a return on equity (ROE) of -18.3%. A negative ROE may indicate losses or negative equity.
MOLSON COORS BEVERAGE CO (TAP) has a 5-year average gross margin of 31.7%. This indicates decent pricing power.
The Ledger Terminal provides 19 years of financial data for MOLSON COORS BEVERAGE CO (TAP), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
MOLSON COORS BEVERAGE CO (TAP) has a book value per share of $51.40, based on its most recent annual SEC filing.
Based on recent SEC filings and earnings disclosures, Management is executing a transformation to become a total beverage company while managing near-term macroeconomic uncertainty and elevated commodity costs, particularly Midwest Premium pricing. The company expects U.S. industry volume to improve versus the down 5% experienced in 2025, with management taking targeted actions behind core power brands, pursuing premiumization opportunities (particularly in above-premium segments where the company meaningfully underindexes in the U.S.), and expanding into adjacent categories including non-alcoholic beverages and energy drinks. Cost pressures from elevated Midwest Premium and base aluminum are expected to persist through 2026, with the largest inflationary impact anticipated in the second quarter, though the company has meaningful hedge coverage for the balance of the year; management is offsetting these headwinds through a three-year $450 million cost savings program and disciplined capital allocation. The company remains focused on returning to sustainable growth through commercial execution, capability investments, technology modernization, and strategic M&A that is accretive to both top and bottom line, while maintaining its target leverage ratio below 2.5 times and continuing to return cash to shareholders through dividends and share repurchases.
Based on recent SEC filings and earnings calls, MOLSON COORS BEVERAGE CO (TAP) has provided the following forward guidance: U.S. Industry Volume: improve versus down 5% in 2025 (FY2026); Net Price Increase (North America): 1%-2% (FY2026); Midwest Premium Cost Impact: elevated relative to 2025 (FY2026); Monaco Acquisition Contribution: about 1% to global NSR on a trailing 12-month basis, with incremental profitability in year one (FY2026); Stock Repurchase Authorization: up to $4 billion (through December 31, 2031).
No recent press releases.