Quality Investor

Celsius Holdings, Inc.

Rank #285Hypergrowth

CELH · Nasdaq · Consumer Defensive

Celsius Holdings, Inc. (CELH) — Rank #285 by gross profitability (GP/assets 0.25) · ROE 9.0% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001341766 · all metrics point-in-time as of the filing date.

About

Celsius Holdings, Inc. develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

Show more

The company offers CELSIUS ESSENTIALS, a functional energy drink formulated with aminos; and CELSIUS Hydration, a line of zero-sugar hydration powders featuring electrolytes in various fruit-forward flavors, as well as ready-to-drink energy beverages, on-the-go powder and hydration sticks, and nutrition and wellness products under CELSIUS, Alani Nu, and Rockstar brand names. It distributes its products through direct-to-store delivery, independent distributors, supermarkets, convenience stores, drug stores, nutritional stores, food service providers, and mass merchants, as well as natural food stores, fitness centers, mass market retailers, vitamin specialty stores, club stores, gyms, and e-commerce platforms. 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.

Industry
Beverages - Non-Alcoholic
Sector
Consumer Defensive
State
NV
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

CELH-6.6% · -1.4% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/S is the primary valuation lens — earnings are reinvested, not available for P/E.

Market Cap

$7.03B

P/E (annual)

111.1

P/S (annual)

2.8

P/B

5.9

P/OCF (annual)

19.6

Shareholder Yield

-12.3%

Employees

1,497

Industry

Beverages - Non-Alcoholic

Exchange

Nasdaq

Signal Flags

3 green2 yellow
Revenue growth acceleratingGrowth rate increasing year over year
Deferred revenue growingRevenue and deferred revenue both growing — retention signal
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter — 2-quarter streak
Dilution above 2%Annual share count increase exceeds 2%. May be acceptable for high-growth companies funding talent via stock compensation
Disclosure regressionA previously-disclosed line item is no longer reported — worth checking the filing for why

Quality Profile

Profitability

1/1 pass
GP / assets
0.25
Return on equity
9.0%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
1.84
Current ratio
1.80×
Net cash
-$43.62M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.1%

Growth

1/2 pass
Revenue growth
284.8%
Piotroski F-Score
N/A
Share dilution
12.3%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

8.9%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Dilution drag: 12.3% — per-share value needs a total required return of 21.3% once share-count change is priced in.

vs. own 6-year median revenue growth: 87.8%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

4.6%

r = 10% (base)

8.9%

r = 12%

12.7%

Net debt / market cap: 0.6%

Base FCF: $323.4M3Y mean FCF: $41.3M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

106.0xFair
10.7xmed 124.8x332.1x

P / S

Price / revenue per share

14.7xExpensive
1.4xmed 3.4x14.7x

P / B

Price / book value per share

73.3xExpensive
1.7xmed 6.1x73.3x

P / GP

Price / gross profit per share

30.5xExpensive
3.4xmed 8.3x30.5x

P / FCF

Price / free cash flow per share

156.2xFair
22.4xmed 135.4x416.6x

Revenue growth and the path to profitability (margin trend) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.25

Primary signal (Novy-Marx).

8th of 18 SIC 20 peers

Return on equity

9.0%

Gross margin

50.4%

4th of 18 SIC 20 peers

Revenue growth (YoY)

284.8%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2020202120222023
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.84

18th of 18 SIC 20 peers (best = lowest)

Current ratio

1.80×

15th of 18 SIC 20 peers

Quick ratio

1.31×

Net cash

-$43.62M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$323.38M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

1.99

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.1%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20182023
Hypergrowth