Celsius Holdings, Inc. (CELH) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-272.5%

-$52.08

vs $30.20 price

Levered DCF

$81.17

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.99

Safe zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	182.96×	57.26×	69.01×	-41.78×	1,243×	419.25×	30.21×	-15.55×
P/B	3.66×	5.03×	11.56×	9.1×	25.35×	33.85×	4.62×	14.76×
P/S	4.28×	4.54×	9.55×	12.04×	17.51×	27.01×	3.91×	3.31×
EV / EBITDA	54.21×	26.12×	40.1×	-48.14×	-1,969.04×	308.11×	22.83×	-15.93×
Gross margin	50.4%	50.2%	48.0%	41.4%	40.8%	46.6%	41.7%	40.0%
Operating margin	5.6%	11.5%	20.2%	-24.1%	-1.3%	6.1%	-1.9%	-20.2%
Net margin	4.3%	10.7%	17.2%	-28.7%	1.3%	6.5%	13.3%	-21.3%
Current ratio	1.68×	3.62×	4.36×	5.69×	2.82×	3.53×	1.93×	2.32×
Debt / equity	0.23×	0.02×	0×	0×	0.01×	0.01×	0.15×	0.67×
Interest coverage	2.88×	0×	0×	0×	-511.25×	7.37×	-1.04×	-56.34×
Dividend yield	0.3%	0.4%	0.2%	0.1%	0.0%	0.0%	0.0%	0.0%
Payout ratio	34.8%	19.0%	12.1%	-6.2%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.7%	11.8%	20.8%	-21.7%	1.8%	8.2%	15.7%	-94.9%
Return on invested capital	3.0%	8.2%	16.4%	-14.9%	1.8%	7.4%	-2.0%	-53.8%
Return on assets	2.1%	8.2%	14.8%	-15.3%	1.3%	6.5%	11.0%	-32.4%
Free cash flow yield	3.0%	3.9%	1.0%	1.3%	-1.8%	0.1%	0.3%	-6.7%
Earnings yield	1.0%	2.4%	1.8%	-2.4%	0.1%	0.2%	3.4%	-6.4%
Enterprise value	$11B	$5.3B	$11.8B	$7.3B	$5.5B	$3.5B	$279.9M	$174.4M
Net debt / EBITDA	1.33×	-4.3×	-2.56×	4.07×	5.34×	-3.72×	-1.11×	-0.02×
Cash conversion cycle (days)	168	121	151	168	353	81	86	156