CELHCelsius Holdings, Inc.
Is the business good?
The checks split: earnings fully cash-backed (3.5×) and margins widening, but returns that lean on debt.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
Negative operating leverage, costs are rising faster than sales, squeezing margins as it grows.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 10% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CELH?
Celsius Holdings, Inc. earns 10% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 1.2 points above what the capital costs: growth creates value
- Operating margin
- 5.3%
Operating margin · Beverages - Non-Alcoholic median 17% · 12 months to Q2 2026
- Cash conversion
- 3.48×
Cash conversion · 1.95× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −1.3%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 6.0% |
| FY2021 | −1.3% |
| FY2022 | −24% |
| FY2023 | 20% |
| FY2024 | 11% |
| FY2025 | 5.6% |
Details›
- Gross margin12 months to Q2 2026
- 49%
- Operating margin12 months to Q2 2026
- 5.3%
- Net margin12 months to Q2 2026
- 4.2%
- Free cash flow margin
- 15%
- Revenue, trailing twelve months
- $3.05B
- Free cash flow, trailing twelve months
- $463M
- Net income, trailing twelve months
- $129M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 10%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.