Molson Coors Beverage Company (TAP) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q4 26	$1.51	$1.58	+4.6%	—	—	—
Q3 26	$0.36	$0.62	+72.2%	—	—	—
Q2 26	$1.15	$1.21	+5.2%	—	—	—
Q1 26	$1.7	$1.67	-1.8%	—	—	—
Q4 25	$1.82	$2.05	+12.6%	—	—	—
Q3 25	$0.8	$0.5	-37.5%	—	—	—
Q2 25	$1.13	$1.3	+15.0%	—	—	—
Q1 25	$1.67	$1.8	+7.8%	—	—	—
Q4 24	$1.68	$1.92	+14.3%	—	—	—
Q3 24	$0.75	$0.95	+26.7%	—	—	—
Q2 24	$1.12	$1.19	+6.2%	—	—	—
Q1 24	$1.54	$1.92	+24.7%	—	—	—
Q4 23	$1.65	$1.78	+7.9%	—	—	—
Q3 23	$0.26	$0.54	+107.7%	—	—	—
Q2 23	$1.07	$1.3	+21.5%	—	—	—
Q1 23	$1.35	$1.32	-2.2%	—	—	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	-$10.8	—	—	$11.1B	—
FY24	—	$5.38	—	—	$11.6B	—
FY23	—	$4.39	—	—	$11.7B	—
FY22	—	-$0.81	—	—	$10.7B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$4.9B	$11B	$10.8B	$10.6B	$9.7B	$10.3B	$10.7B	$11.7B	$11.6B	$11.1B
YoY change	+36.9%	+125.2%	-2.12%	-1.77%	-8.75%	+6.48%	+4.1%	+9.36%	-0.64%	-4.18%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	4.9B	11B	10.8B	10.6B	9.7B	10.3B	10.7B	11.7B	11.6B	11.1B
Cost of revenue	3B	6.2B	6.6B	6.4B	5.9B	6.2B	7B	7.3B	7.1B	6.9B
Gross profit	1.9B	4.8B	4.2B	4.2B	3.8B	4.1B	3.7B	4.4B	4.5B	4.3B
Gross margin	38.6%	43.3%	38.9%	39.7%	39%	39.4%	34.2%	37.3%	39%	38.4%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.6B	3.1B	2.8B	2.7B	2.4B	2.6B	2.6B	2.8B	2.7B	2.6B
Operating expenses	1.6B	3.1B	2.8B	2.7B	2.4B	2.6B	2.6B	2.8B	2.7B	2.6B
Operating income	288.8M	1.7B	1.4B	1.5B	1.3B	1.5B	1B	1.6B	1.8B	1.6B
Operating margin	5.91%	15.6%	12.8%	13.9%	13.8%	14.6%	9.69%	13.6%	15.6%	14.6%
Non-operating income, net	3.1B	12.4M	275.9M	-720.6M	-1.7B	-1.6M	-852.6M	-127.8M	-65.6M	-3.9B
Pretax income	3.1B	1.4B	1.4B	479.9M	-643.9M	1.2B	-62.5M	1.3B	1.5B	-2.5B
Income tax	1.5B	-204.6M	225.2M	233.7M	301.8M	230.5M	124M	296.1M	345.3M	-337.8M
Net income	1.6B	1.6B	1.1B	246.2M	-945.7M	1B	-186.5M	956.4M	1.2B	-2.2B
Net margin	32.7%	14.4%	10.5%	2.33%	-9.8%	9.81%	-1.74%	8.17%	9.96%	-19.6%
EBITDA	1.2B	2.6B	2.3B	2.3B	2.3B	2.3B	1.8B	2.3B	2.6B	2.4B
EPS	9.32	6.57	5.17	1.12	-4.38	4.63	-0.81	4.39	5.38	-10.8
Diluted EPS	9.26	6.53	5.15	1.11	-4.38	4.62	-0.81	4.37	5.35	-10.8

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	3.3B	2.8B	2.6B	3.3B	3B	2.7B	2.3B	3.2B	3B	2.7B	2.4B	3.1B
Cost of revenue	2B	1.8B	1.6B	1.9B	1.8B	1.7B	1.5B	1.9B	1.8B	1.7B	1.5B	2B
Gross profit	1.3B	1B	963.5M	1.3B	1.2B	1B	850.9M	1.3B	1.2B	968.3M	897.2M	1.1B
Gross margin	40.8%	37%	37.1%	40.9%	39.5%	37.9%	36.9%	40%	39.5%	36.4%	38.2%	34.3%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	746.8M	683.2M	654.6M	728.5M	684.7M	649.7M	653.2M	693.1M	686.7M	610.9M	610M	718.5M
Operating expenses	746.8M	683.2M	654.6M	728.5M	684.7M	649.7M	653.2M	693.1M	686.7M	610.9M	610M	718.5M
Operating income	599.4M	349.8M	308.9M	601.4M	517.8M	387.8M	197.7M	588.8M	486.8M	357.4M	287.2M	344.8M
Operating margin	18.2%	12.5%	11.9%	18.5%	17%	14.2%	8.58%	18.4%	16.4%	13.4%	12.2%	11.1%
Non-operating income, net	-6.6M	-138.2M	4.9M	9.7M	-93.3M	13.1M	15.2M	24.6M	-3.9B	-34.9M	-34.9M	-1.2M
Pretax income	544M	165.5M	265.4M	559.9M	331.4M	346.3M	156.3M	554.9M	-3.5B	266.3M	194.7M	283.1M
Income tax	112.4M	60M	55.5M	134.6M	102.6M	52.6M	33.2M	130.6M	-558.6M	57M	44.6M	61.5M
Net income	431.6M	105.5M	209.9M	425.3M	228.8M	293.7M	123.1M	424.3M	-2.9B	209.3M	150.1M	221.6M
Net margin	13.1%	3.78%	8.08%	13.1%	7.52%	10.7%	5.34%	13.3%	-98.8%	7.86%	6.38%	7.16%
EBITDA	780.8M	571.3M	471.6M	769M	759M	610.9M	393.9M	764.9M	4.6B	-3.3B	508.8M	557.2M
EPS	1.99	0.48	0.98	2.03	0.96	1.4	0.6	2.14	-14.8	1.22	0.8	1.24
Diluted EPS	1.98	0.48	0.97	2.03	0.96	1.39	0.59	2.13	-14.8	1.22	0.8	1.23

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	17.7B	12.1B	11.7B	9.8B	10.1B	11.2B	13.2B	12B	9.3B	6.8B
Enterprise value	—	28.6B	21.6B	20.2B	17.3B	16.6B	17.2B	18.6B	17.2B	14.7B	12.8B
Shares outstanding	212M	215.4M	216M	216.6M	216.8M	217.1M	216.9M	216M	208.8M	199.1M	199.1M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	11.1	10.7	47.4	—	9.98	—	13.8	10.3	—	8.91
P/S	—	1.61	1.13	1.1	1.01	0.98	1.04	1.13	1.03	0.83	0.6
P/B	—	1.34	0.88	0.85	0.78	0.74	0.87	0.98	0.89	0.88	0.66
EV/EBITDA	—	11	9.4	8.61	7.55	7.14	9.78	7.99	6.59	6.05	5.64
EV/Sales	—	2.6	2	1.91	1.79	1.62	1.61	1.59	1.48	1.32	1.15
Earnings yield	—	8.98%	9.35%	2.11%	—	10%	—	7.23%	9.67%	—	11.2%
FCF yield	—	7.17%	13.8%	11.2%	11.4%	10.4%	7.52%	10.6%	10.3%	11.5%	13.8%
PEG	—	—	—	—	—	—	—	—	—	—	-0.21

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	38.6%	43.3%	38.9%	39.7%	39%	39.4%	34.2%	37.3%	39%	38.4%	34.3%
Operating margin	5.91%	15.6%	12.8%	13.9%	13.8%	14.6%	9.69%	13.6%	15.6%	14.6%	11.3%
Net margin	32.7%	14.4%	10.5%	2.33%	-9.8%	9.81%	-1.74%	8.17%	9.96%	-19.6%	-20.8%
ROE	13.8%	12%	8.26%	1.8%	-7.49%	7.38%	-1.44%	7.12%	8.61%	-20.7%	-19.5%
ROA	5.45%	5.25%	3.77%	0.85%	-3.46%	3.65%	-0.72%	3.63%	4.44%	-9.59%	3.79%
ROIC	0.65%	7.12%	4.98%	3.4%	6.61%	6.03%	5.48%	6.44%	7.49%	10.2%	9.23%
Return on tangible assets	-10.5%	-10.5%	-8.12%	-1.8%	7.83%	-8.96%	1.81%	-10.1%	-12.2%	42.5%	65.3%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	0.69	0.64	0.64	0.59	0.62	0.77	0.78	0.7	0.94	0.55	0.88
Quick ratio	0.5	0.47	0.51	0.42	0.45	0.54	0.55	0.5	0.7	0.42	0.72
Debt / equity	1.04	0.86	0.76	0.66	0.66	0.53	0.51	0.47	0.46	0.6	0.76
Debt / assets	0.41	0.37	0.35	0.31	0.3	0.26	0.26	0.24	0.24	0.28	0.32
Net debt / EBITDA	9.98	4.21	4.11	3.64	3.27	2.82	3.42	2.32	2	2.24	2.39
Interest coverage	12.2	4.96	5.44	2.71	-1.34	5.76	0.75	6.35	6.32	-9.16	-9.16
Effective tax rate	47.6%	0%	16.6%	48.7%	0%	18.6%	0%	23.6%	23%	0%	0%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	23	51.1	49.9	48.8	44.5	47.4	49.3	54.2	55.7	56	57.6
EPS (basic)	9.32	6.57	5.17	1.12	-4.38	4.63	-0.81	4.39	5.38	-10.8	-10.8
EPS (diluted)	9.26	6.53	5.15	1.11	-4.38	4.62	-0.81	4.37	5.35	-10.8	-11.4
Book value per share	54.8	61.2	63.6	63.1	58.2	62.9	59.5	62.2	64.4	53	54.1
FCF per share	3.7	5.88	7.78	6.02	5.17	4.84	3.88	6.52	5.92	5.36	7.06
Cash per share	2.65	1.94	4.9	2.42	3.55	2.94	2.77	4.02	4.64	4.5	11.4
Capex per share	0.79	2.5	2.87	2.21	1.92	2.29	2.9	3.06	3.11	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	3.42%	4.9%	5.75%	4.52%	4.31%	4.83%	5.88%	5.65%	5.59%	—	—
Capex / operating cash flow	4.28%	23.5%	25.9%	28.8%	59.2%	24.9%	85.1%	29.4%	25.3%	—	—
Payout ratio	22.1%	22.3%	31.2%	172.4%	-13.2%	14.7%	-176.6%	37.1%	31.9%	-17.3%	35.9%
Dividend yield	—	2%	2.92%	3.64%	1.28%	1.47%	2.95%	2.68%	3.08%	4.05%	5.35%

Yield

5.35%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.48

ex-dividend Aug 28, 2026

Payout ratio

36%

of earnings

Dividend growth

5 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 28, 2026	$0.48
May 29, 2026	$0.48
Mar 6, 2026	$0.48

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$3.3B	$2.8B	$2.6B	$3.3B	$3B	$2.7B	$2.3B	$3.2B	$3B	$2.7B	$2.4B	$3.1B
YoY change	+12.4%	+6.13%	+10.7%	-0.44%	-7.75%	-1.98%	-11.3%	-1.58%	-2.27%	-2.68%	+2.04%	-3.26%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	560.9M	418.6M	1.1B	523.4M	770.1M	637.4M	600M	868.9M	969.3M	896.5M
Receivables	654.4M	728.3M	736M	705.9M	549.6M	678.9M	739.8M	757.8M	693.1M	703M
Inventory	592.7M	591.5M	591.8M	615.9M	664.3M	804.7M	792.9M	802.3M	727.8M	715.9M
Total current assets	2.2B	2.2B	2.8B	2.2B	2.4B	2.8B	2.6B	2.8B	2.8B	2.9B
Property, plant & equipment	3.7B	3.7B	3.7B	3.5B	3.2B	3B	3B	3.2B	3B	3.2B
Goodwill & intangibles	44.6B	45.4B	44.1B	42.6B	39.4B	38.9B	36.2B	35.9B	35.6B	27.9B
Total assets	29.3B	30.2B	30.1B	28.9B	27.3B	27.6B	25.9B	26.4B	26.1B	22.7B
Accounts payable	1.3B	1.6B	1.6B	1.7B	1.7B	2.1B	2.1B	2.1B	1.9B	1.8B
Short-term debt	684.8M	714.8M	1.6B	974.8M	1.1B	560.3M	441.8M	958.7M	78.9M	2.5B
Total current liabilities	3.2B	3.4B	4.3B	3.7B	3.9B	3.6B	3.4B	4.1B	3B	5.3B
Long-term debt	11.4B	10.6B	8.9B	8.1B	7.2B	6.6B	6.2B	5.3B	6.1B	3.9B
Total liabilities	17.7B	17.1B	16.4B	15.2B	14.7B	14B	13B	12.9B	12.6B	12.2B
Shareholders' equity	11.6B	13.2B	13.7B	13.7B	12.6B	13.7B	12.9B	13.4B	13.5B	10.5B
Total debt	12.1B	11.3B	10.5B	9.1B	8.3B	7.2B	6.6B	6.3B	6.2B	6.4B
Net debt	11.5B	10.9B	9.4B	8.6B	7.5B	6.6B	6B	5.4B	5.2B	5.5B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	801.7M	868.9M	458.4M	1.6B	1B	969.3M	412.7M	613.8M	950.2M	896.5M	382.6M	2.1B
Receivables	918.7M	757.8M	894.1M	1.1B	873.5M	693.1M	789.1M	1B	842.5M	703M	798.2M	1B
Inventory	852.6M	802.3M	870.9M	848.5M	833.3M	727.8M	870.5M	902M	820.6M	715.9M	812.8M	849.1M
Total current assets	3.1B	2.8B	2.7B	4B	3.2B	2.8B	2.6B	3.1B	3.2B	2.9B	2.7B	4.6B
Property, plant & equipment	—	3.2B	—	—	—	3B	—	—	—	3.2B	—	—
Goodwill & intangibles	36.1B	35.9B	35.6B	35.4B	35.5B	35.6B	35.6B	36B	27.9B	27.9B	27.7B	28B
Total assets	26.6B	26.4B	26.1B	27.4B	26.6B	26.1B	25.9B	26.8B	22.9B	22.7B	22.4B	24.4B
Accounts payable	3.4B	2.1B	3B	3.3B	3.2B	1.9B	2.8B	3.2B	2.9B	1.8B	2.7B	3.2B
Short-term debt	878.8M	958.7M	905.5M	894.2M	37.7M	78.9M	83.2M	62.3M	2.4B	2.5B	2.4B	2B
Total current liabilities	4.2B	4.1B	3.9B	4.2B	3.2B	3B	2.9B	3.2B	5.3B	5.3B	5.1B	5.2B
Long-term debt	5.3B	5.3B	5.3B	6.2B	6.2B	6.1B	6.2B	6.3B	3.9B	3.9B	3.8B	5.7B
Total liabilities	13.1B	12.9B	12.7B	14B	13.1B	12.6B	12.5B	13B	12.2B	12.2B	12B	14B
Shareholders' equity	13.5B	13.4B	13.4B	13.4B	13.6B	13.5B	13.5B	13.8B	10.7B	10.5B	10.4B	10.4B
Total debt	6.2B	6.3B	6.2B	7.1B	6.2B	6.2B	6.2B	6.3B	6.3B	6.4B	6.3B	7.7B
Net debt	5.4B	5.4B	5.8B	5.4B	5.2B	5.2B	5.8B	5.7B	5.3B	5.5B	5.9B	5.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	1.6B	1.6B	1.1B	246.2M	-945.7M	1B	-186.5M	956.4M	1.2B	-2.2B
Depreciation & amortization	388.4M	812.8M	857.5M	859M	922M	786.1M	684.8M	682.8M	759.4M	725.7M
Stock-based compensation	29.9M	58.3M	42.6M	8.5M	24.2M	32.1M	33.6M	44.9M	43.1M	35M
Change in working capital	39.7M	-14.2M	-181.7M	25.3M	126.2M	-321.6M	-167.1M	30.2M	56.3M	138.7M
Operating cash flow	3.9B	2.3B	2.4B	1.7B	702.6M	2B	739.4M	2.2B	2.6B	1.8B
Capital expenditure	-167.3M	-539.1M	-619.2M	-477.9M	-416M	-496.6M	-629.2M	-660.6M	-649.6M	—
Investing cash flow	-12.3B	-538.2M	-669.1M	-433.3M	-413.6M	-509.9M	-625.1M	-841.7M	-648M	-121.3M
Dividends paid	-352.9M	-353.4M	-354.2M	-424.4M	-125.3M	-147.8M	-329.3M	-354.7M	-369.2M	-376.3M
Share repurchases	0	0	—	—	0	0	-51.5M	-205.8M	-643.4M	-647.9M
Financing cash flow	11.3B	-1.5B	-1B	-2B	-1.1B	-1.2B	-892.6M	-989.3M	-1.1B	-1.1B
Net change in cash	2.9B	253.5M	701.1M	-783.2M	-785.5M	309.2M	-778.3M	413.4M	781M	606.3M
Free cash flow	785.1M	1.3B	1.7B	1.3B	1.1B	1.1B	840.6M	1.4B	1.2B	1.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	431.6M	105.5M	209.9M	425.3M	228.8M	293.7M	123.1M	424.3M	-2.9B	209.3M	150.1M	221.6M
Depreciation & amortization	168.7M	174.2M	169M	167.7M	175.4M	247.3M	180.3M	166.9M	183.4M	184.9M	189.5M	195.8M
Stock-based compensation	13.8M	10.8M	12.8M	11.4M	10.4M	8.5M	11.9M	7M	8.3M	7.8M	8.2M	8.8M
Change in working capital	—	-78.8M	-395.7M	—	—	181M	-354.8M	—	—	—	—	—
Operating cash flow	783.6M	327.3M	106.9M	796.8M	623.6M	769.1M	26.7M	718.3M	616.1M	540.7M	2.5M	817.9M
Capital expenditure	-157.2M	-173.8M	-213M	-168.9M	-166.2M	-101.5M	-235M	—	—	—	—	—
Investing cash flow	-264M	-173.2M	-212.5M	-168.9M	-148.9M	-117.7M	-341.3M	2.8M	-4M	-13.8M	500K	-272.1M
Dividends paid	-88.5M	-88M	-96.8M	-91.6M	-91M	-89.8M	-99.2M	-93.5M	-93M	-90.6M	-93.6M	-90.1M
Share repurchases	-34.2M	-144.9M	-113.6M	-261.7M	-62.1M	-206M	-59.6M	-247.2M	-26M	-315.1M	-168.5M	-42.5M
Financing cash flow	-526.7M	-253M	-216.2M	501.8M	-1B	-393.6M	-131.2M	-375M	-140.4M	-410.2M	-282.2M	-539.5M
Net change in cash	-7.1M	-98.9M	-321.8M	1.1B	-555.7M	257.8M	-445.8M	346.1M	471.7M	116.7M	-279.2M	6.3M
Free cash flow	551.1M	297.1M	-189.3M	691.7M	350.4M	383.4M	-328M	555M	483M	357.8M	-229.2M	714.4M

Molson Coors Beverage Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement

Split history