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Celsius Holdings, Inc. CELH

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At $33.36 the stock sits at exactly half its 52-week high, and GAAP diluted earnings per share have fallen three years running, from $0.77 in 2023 to $0.25 in 2025.

Revenue still grew 10.6% in the June quarter to $817.9 million, but that quarter missed on both lines for the first time in this cycle, and consensus now models a sequential decline to $798.9 million on November 5.

Key data

ItemValue
Price, 2026-08-21$33.36, 50.0% below the $66.74 high
Market capitalization$8.5B
FY2025 revenue$2.52B, up 85.5%
FY2025 GAAP diluted EPS$0.25, versus $0.77 in 2023
Diluted shares, implied FY2025about 255M ($63.8M to common ÷ $0.25)
Cash, 2026-06-30$631.2M
Term loan outstanding, 2026-06-30$694.8M
FY2025 gross margin / net margin to common50.4% / 2.5%

CELH · price with moving averages

Daily · 6MWeekly · 3Y
$17$38$59$80$101 Sep '23Apr '24Nov '24Jun '25Jan '26Sep '26 BID
EMAs82140

Source: market data.

The business

Celsius sells no sugar energy drinks positioned as fitness products rather than stimulants, bought by consumers who treat energy as workout fuel and sold through gyms, convenience stores and club channels. Revenue arrives when cases move into a distribution network the company does not own. Pepsi has handled United States distribution since a 2022 agreement that gave Pepsi an equity stake and influence in exchange for shelf access.

That shelf is the engine, so growth tends to arrive as brands rather than as organic acceleration. Revenue rose 2.9% in 2024. Then the 2025 Alani Nu purchase, funded with a $900 million term loan, lifted revenue 85.5% to $2.52 billion, and Rockstar Energy joined the portfolio. June quarter revenue reached $817.9 million with gross margin at 48.1%, down 340 basis points year over year.

Inside the complete One Pager

  1. 01The business
  2. 02Things you might not know
  3. 03Fundamentals
  4. 04Valuation
  5. 05Management
  6. 06Compensation
  7. 07The linchpins
  8. 08Last word

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