Molson Coors Beverage Company (TAP) 10-Year Financial Performance & Capital Metrics

TAP • • Industrial / General

Consumer DefensiveAlcoholic BeveragesGlobal Beer GiantsGlobal Beer Leaders

AboutMolson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is based in Golden, Colorado.Show more

Revenue $11.63B -0.6%
EBITDA $2.51B +18.5%
Net Income $1.12B +18.3%
EPS (Diluted) 5.35 +22.4%
Gross Margin 38.99% +4.4%
EBITDA Margin 21.61% +19.2%
Operating Margin 15.08% +22.7%
Net Margin 9.65% +19.0%
ROE 8.35% +15.9%
ROIC 7.01% +22.7%
Debt/Equity 0.46 -1.4%
Interest Coverage 6.28 -0.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y profit CAGR of 35.9%
✓Strong Piotroski F-Score: 9/9
✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 3.5%
✓Share count reduced 3.4% through buybacks
✓Trading at only 0.8x book value

✗Weaknesses

✗Weak 3Y average ROE of 4.7%

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.86%

5Y1.91%

3Y4.19%

TTM-4.01%

Profit (Net Income) CAGR

10Y8.12%

5Y35.95%

3Y3.73%

TTM-322.85%

EPS CAGR

10Y6.84%

5Y36.96%

3Y5.01%

TTM-340.54%

ROCE

10Y Avg5.77%

5Y Avg3.86%

3Y Avg4.95%

Latest7.74%

Peer Comparison

Global Beer Leaders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BUDAnheuser-Busch InBev SA/NV	118.45B	68.72	24.03	0.65%	10.49%	13.75%	9.45%	0.81
TAPMolson Coors Beverage Company	9.38B	50.64	9.47	-0.64%	-18.64%	-19.59%	13.17%	0.46

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	3.57B	4.88B	11B	10.77B	10.58B	9.65B	10.28B	10.7B	11.7B	11.63B
Revenue Growth %	-0.14%	0.37%	1.25%	-0.02%	-0.02%	-0.09%	0.06%	0.04%	0.09%	-0.01%
Cost of Goods Sold+	2.13B	3B	6.24B	6.58B	6.38B	5.89B	6.23B	7.05B	7.33B	7.09B
COGS % of Revenue	0.6%	0.61%	0.57%	0.61%	0.6%	0.61%	0.61%	0.66%	0.63%	0.61%
Gross Profit+	1.44B	1.89B	4.77B	4.18B	4.2B	3.77B	4.05B	3.66B	4.37B	4.53B
Gross Margin %	0.4%	0.39%	0.43%	0.39%	0.4%	0.39%	0.39%	0.34%	0.37%	0.39%
Gross Profit Growth %	-0.13%	0.31%	1.53%	-0.12%	0%	-0.1%	0.08%	-0.1%	0.2%	0.04%
Operating Expenses+	868.7M	-1.44B	3.09B	2.55B	3.44B	4.18B	2.6B	3.5B	2.93B	2.78B
OpEx % of Revenue	0.24%	-0.29%	0.28%	0.24%	0.32%	0.43%	0.25%	0.33%	0.25%	0.24%
Selling, General & Admin	1.04B	1.6B	3.05B	2.8B	2.73B	2.44B	2.55B	2.62B	2.78B	2.52B
SG&A % of Revenue	0.29%	0.33%	0.28%	0.26%	0.26%	0.25%	0.25%	0.24%	0.24%	0.22%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-169.6M	-3.03B	36.4M	-249.7M	708.8M	1.74B	44.5M	878.9M	150.7M	264.1M
Operating Income+	567.2M	3.32B	1.68B	1.63B	764.4M	-408.9M	1.45B	157.5M	1.44B	1.75B
Operating Margin %	0.16%	0.68%	0.15%	0.15%	0.07%	-0.04%	0.14%	0.01%	0.12%	0.15%
Operating Income Growth %	-0.22%	4.86%	-0.5%	-0.03%	-0.53%	-1.53%	4.56%	-0.89%	8.13%	0.22%
EBITDA+	881.6M	3.71B	2.49B	2.49B	1.62B	513.1M	2.24B	842.3M	2.12B	2.51B
EBITDA Margin %	0.25%	0.76%	0.23%	0.23%	0.15%	0.05%	0.22%	0.08%	0.18%	0.22%
EBITDA Growth %	-0.15%	3.21%	-0.33%	-0%	-0.35%	-0.68%	3.37%	-0.62%	1.52%	0.18%
D&A (Non-Cash Add-back)	314.4M	388.4M	812.8M	857.5M	859M	922M	786.1M	684.8M	682.8M	759.4M
EBIT	576.4M	3.33B	1.73B	1.67B	760.8M	-369.3M	1.5B	188.1M	1.49B	1.79B
Net Interest Income+	-124.9M	-267.6M	-339.6M	-305.9M	-293.2M	-282.6M	-259.6M	-232M	-203.4M	-243.9M
Interest Income	8.3M	27.2M	6M	8M	8.2M	3.3M	2M	4.3M	25.4M	35.4M
Interest Expense	133.2M	294.8M	345.6M	313.9M	301.4M	285.9M	261.6M	236.3M	228.8M	279.3M
Other Income/Expense	-156.5M	-268.5M	-294.5M	-272M	-284.5M	-235M	-215.4M	-220M	-185.7M	-250.2M
Pretax Income+	410.7M	3.04B	1.38B	1.36B	479.9M	-643.9M	1.24B	-62.5M	1.25B	1.5B
Pretax Margin %	0.12%	0.62%	0.13%	0.13%	0.05%	-0.07%	0.12%	-0.01%	0.11%	0.13%
Income Tax+	51.8M	1.05B	-53.2M	225.2M	233.7M	301.8M	230.5M	124M	296.1M	345.3M
Effective Tax Rate %	0.88%	0.65%	1.02%	0.82%	0.5%	1.47%	0.81%	2.8%	0.76%	0.75%
Net Income+	359.5M	1.98B	1.41B	1.12B	241.7M	-945.7M	1.01B	-175.3M	948.9M	1.12B
Net Margin %	0.1%	0.4%	0.13%	0.1%	0.02%	-0.1%	0.1%	-0.02%	0.08%	0.1%
Net Income Growth %	-0.3%	4.5%	-0.28%	-0.21%	-0.78%	-4.91%	2.06%	-1.17%	6.41%	0.18%
Net Income (Continuing)	358.9M	1.6B	1.59B	1.13B	246.2M	-945.7M	1.01B	-186.5M	956.4M	1.16B
Discontinued Operations	3.9M	0	0	0	0	0	0	0	0	0
Minority Interest	20.1M	203M	208.9M	228.4M	253.7M	256.3M	247M	225.5M	239.1M	360.3M
EPS (Diluted)+	1.93	9.26	6.53	5.15	1.11	-4.36	4.62	-0.86	4.37	5.35
EPS Growth %	-0.3%	3.8%	-0.29%	-0.21%	-0.78%	-4.93%	2.06%	-1.19%	6.08%	0.22%
EPS (Basic)	1.94	9.32	6.57	5.17	1.12	-4.36	4.63	-0.86	4.39	5.38
Diluted Shares Outstanding	186.4M	213.4M	216.5M	216.6M	216.9M	216.8M	217.6M	216.9M	217.3M	209.9M
Basic Shares Outstanding	185.3M	212M	215.4M	216M	216.6M	216.8M	217.1M	216.9M	216M	208.8M
Dividend Payout Ratio	0.84%	0.18%	0.25%	0.32%	1.76%	-	0.15%	-	0.37%	0.33%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.26B	2.17B	2.19B	2.77B	2.18B	2.42B	2.78B	2.64B	2.85B	2.85B
Cash & Short-Term Investments	430.9M	560.9M	418.6M	1.06B	523.4M	770.1M	637.4M	600M	868.9M	969.3M
Cash Only	430.9M	560.9M	418.6M	1.06B	523.4M	770.1M	637.4M	600M	868.9M	969.3M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	525.9M	805.3M	902M	871M	820.3M	687.1M	879.4M	866.2M	879.4M	842.9M
Days Sales Outstanding	53.81	60.17	29.92	29.52	28.3	25.98	31.22	29.55	27.43	26.46
Inventory	196.7M	592.7M	591.5M	591.8M	615.9M	664.3M	804.7M	792.9M	802.3M	727.8M
Days Inventory Outstanding	33.68	72.14	34.62	32.8	35.25	41.2	47.17	41.08	39.93	37.45
Other Current Assets	112.1M	174.6M	236.5M	245.6M	224.8M	297.3M	457.2M	378.9M	297.9M	308.4M
Total Non-Current Assets+	11.02B	27.17B	28.06B	27.34B	26.68B	24.91B	24.84B	23.23B	23.53B	23.22B
Property, Plant & Equipment	1.59B	4.51B	4.67B	4.61B	4.55B	4.25B	4.19B	4.22B	4.44B	4.46B
Fixed Asset Turnover	2.24x	1.08x	2.35x	2.34x	2.33x	2.27x	2.45x	2.53x	2.63x	2.61x
Goodwill	1.98B	8.25B	8.41B	8.26B	7.63B	6.15B	6.15B	5.29B	5.33B	5.58B
Intangible Assets	4.75B	14.03B	14.3B	13.78B	13.66B	13.56B	13.29B	12.8B	12.61B	12.2B
Long-Term Investments	2.44B	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	236.5M	382.5M	681.5M	698M	841.5M	954.9M	1.21B	915.5M	1.14B	978M
Total Assets+	12.28B	29.34B	30.25B	30.11B	28.86B	27.33B	27.62B	25.87B	26.38B	26.06B
Asset Turnover	0.29x	0.17x	0.36x	0.36x	0.37x	0.35x	0.37x	0.41x	0.44x	0.45x
Asset Growth %	-0.12%	1.39%	0.03%	-0%	-0.04%	-0.05%	0.01%	-0.06%	0.02%	-0.01%
Total Current Liabilities+	1.22B	3.16B	3.4B	4.3B	3.7B	3.91B	3.62B	3.38B	4.09B	3.05B
Accounts Payable	559.6M	1.3B	1.57B	1.62B	1.69B	1.73B	2.1B	2.07B	1.98B	1.88B
Days Payables Outstanding	95.82	157.93	91.8	89.62	96.53	107.45	123	107.14	98.59	96.48
Short-Term Debt	28.7M	684.8M	714.8M	1.59B	928.2M	1.02B	514.9M	397.1M	911.8M	32.2M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	305.7M	614.2M	614.9M	612.9M	648.6M	750.7M	629.8M	537.9M	646.2M	596.9M
Current Ratio	1.03x	0.69x	0.64x	0.64x	0.59x	0.62x	0.77x	0.78x	0.70x	0.94x
Quick Ratio	0.87x	0.50x	0.47x	0.51x	0.42x	0.45x	0.54x	0.55x	0.50x	0.70x
Cash Conversion Cycle	-8.33	-25.62	-27.26	-27.3	-32.98	-40.28	-44.6	-36.52	-31.23	-32.57
Total Non-Current Liabilities+	4B	14.56B	13.41B	12.07B	11.49B	10.8B	10.33B	9.58B	8.85B	9.57B
Long-Term Debt	2.91B	11.39B	10.6B	8.89B	8.11B	7.21B	6.65B	6.17B	5.31B	6.11B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	799.8M	1.7B	1.65B	2.13B	2.26B	2.38B	2.7B	2.65B	2.7B	2.73B
Other Non-Current Liabilities	287.5M	1.48B	1.17B	1.05B	1.12B	1.21B	980.9M	766.1M	838.1M	719.1M
Total Liabilities	5.21B	17.72B	16.81B	16.37B	15.19B	14.71B	13.95B	12.95B	12.94B	12.61B
Total Debt+	2.94B	12.07B	11.31B	10.49B	9.08B	8.28B	7.21B	6.61B	6.27B	6.19B
Net Debt	2.51B	11.51B	10.89B	9.43B	8.56B	7.51B	6.57B	6.01B	5.4B	5.22B
Debt / Equity	0.42x	1.04x	0.84x	0.76x	0.66x	0.66x	0.53x	0.51x	0.47x	0.46x
Debt / EBITDA	3.33x	3.25x	4.54x	4.21x	5.60x	16.13x	3.22x	7.84x	2.96x	2.46x
Net Debt / EBITDA	2.84x	3.10x	4.37x	3.79x	5.27x	14.63x	2.93x	7.13x	2.55x	2.08x
Interest Coverage	4.26x	11.27x	4.85x	5.20x	2.54x	-1.43x	5.56x	0.67x	6.29x	6.28x
Total Equity+	7.06B	11.62B	13.44B	13.74B	13.67B	12.62B	13.66B	12.92B	13.44B	13.45B
Equity Growth %	-0.1%	0.65%	0.16%	0.02%	-0%	-0.08%	0.08%	-0.05%	0.04%	0%
Book Value per Share	37.89	54.46	62.06	63.42	63.04	58.22	62.79	59.54	61.83	64.09
Total Shareholders' Equity	7.04B	11.42B	13.23B	13.51B	13.42B	12.37B	13.42B	12.69B	13.2B	13.09B
Common Stock	712.9M	681.3M	662.9M	662.8M	662.4M	522.2M	522.1M	517.6M	455.2M	374M
Retained Earnings	4.5B	6.12B	7.21B	7.69B	7.62B	6.54B	7.4B	6.89B	7.48B	8.24B
Treasury Stock	-471.4M	-471.4M	-471.4M	-471.4M	-471.4M	-471.4M	-471.4M	-522.9M	-735.6M	-1.38B
Accumulated OCI	-1.34B	-1.5B	-800.5M	-1.09B	-1.09B	-1.11B	-1.01B	-1.21B	-1.12B	-1.36B
Minority Interest	20.1M	203M	208.9M	228.4M	253.7M	256.3M	247M	225.5M	239.1M	360.3M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	715.9M	1.13B	1.87B	2.33B	1.9B	1.7B	1.57B	1.5B	2.08B	1.91B
Operating CF Margin %	0.2%	0.23%	0.17%	0.22%	0.18%	0.18%	0.15%	0.14%	0.18%	0.16%
Operating CF Growth %	-0.44%	0.57%	0.66%	0.25%	-0.19%	-0.11%	-0.07%	-0.05%	0.38%	-0.08%
Net Income	362.8M	1.98B	1.44B	1.13B	246.2M	-945.7M	1.01B	-186.5M	948.9M	1.16B
Depreciation & Amortization	314.4M	388.4M	812.8M	857.5M	859M	922M	786.1M	684.8M	682.8M	759.4M
Stock-Based Compensation	18.4M	29.9M	58.3M	42.6M	8.5M	24.2M	32.1M	33.6M	44.9M	43.1M
Deferred Taxes	51.8M	1.05B	-53.2M	225.2M	233.7M	301.8M	230.5M	124M	296.1M	345.3M
Other Non-Cash Items	-54.1M	-2.51B	-404.8M	159.4M	562.4M	1.32B	-447.6M	1.03B	25.9M	-217.1M
Working Capital Changes	22.6M	187.2M	16.8M	-88M	-12.5M	76.1M	-36.1M	-183.2M	80.4M	-178.1M
Change in Receivables	60.8M	65.6M	-7.2M	-38.4M	38.5M	160.8M	-137.6M	-108.5M	-700K	39.6M
Change in Inventory	10.9M	-23.2M	21.3M	-10.6M	-17.7M	-46.2M	-143.9M	-64.6M	21.7M	55.1M
Change in Payables	-111M	144.9M	31M	27.6M	-38.5M	-160.8M	137.6M	-16.1M	50.2M	-234.4M
Cash from Investing+	-334.7M	-12.29B	-538.2M	-669.1M	-433.3M	-413.6M	-509.9M	-625.1M	-841.7M	-648M
Capital Expenditures	-275M	-341.8M	-599.6M	-651.7M	-593.8M	-574.8M	-522.6M	-661.4M	-671.5M	-674.1M
CapEx % of Revenue	0.08%	0.07%	0.05%	0.06%	0.06%	0.06%	0.05%	0.06%	0.06%	0.06%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	26M	8.5M	900K	-49.9M	44.6M	2.4M	-13.3M	4.1M	-106.5M	34.7M
Cash from Financing+	-531.5M	11.32B	-1.5B	-1.01B	-2.01B	-1.07B	-1.17B	-889.5M	-981.4M	-1.14B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-303.4M	-352.9M	-353.4M	-354.2M	-424.4M	-125.3M	-147.8M	-329.3M	-354.7M	-369.2M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-27.2M	-90.4M	-46.2M	23.4M	3.7M	-27.7M	-19.2M	-2.9M	-23.1M	-105.7M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	421.4M	785.1M	1.27B	1.68B	1.3B	1.12B	1.05B	840.6M	1.41B	1.24B
FCF Margin %	0.12%	0.16%	0.12%	0.16%	0.12%	0.12%	0.1%	0.08%	0.12%	0.11%
FCF Growth %	-0.58%	0.86%	0.61%	0.33%	-0.22%	-0.14%	-0.06%	-0.2%	0.67%	-0.12%
FCF per Share	2.26	3.68	5.85	7.75	6.01	5.17	4.83	3.88	6.48	5.89
FCF Conversion (FCF/Net Income)	1.99x	0.57x	1.32x	2.09x	7.85x	-1.79x	1.56x	-8.57x	2.19x	1.70x
Interest Paid	0	0	0	0	0	0	0	0	229M	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.81%	21.15%	11.29%	8.22%	1.76%	-7.19%	7.65%	-1.32%	7.2%	8.35%
Return on Invested Capital (ROIC)	4.25%	15.24%	5.3%	5.15%	2.53%	-1.45%	5.41%	0.6%	5.71%	7.01%
Gross Margin	40.25%	38.61%	43.32%	38.86%	39.71%	39.03%	39.43%	34.16%	37.33%	38.99%
Net Margin	10.08%	40.45%	12.85%	10.37%	2.28%	-9.8%	9.78%	-1.64%	8.11%	9.65%
Debt / Equity	0.42x	1.04x	0.84x	0.76x	0.66x	0.66x	0.53x	0.51x	0.47x	0.46x
Interest Coverage	4.26x	11.27x	4.85x	5.20x	2.54x	-1.43x	5.56x	0.67x	6.29x	6.28x
FCF Conversion	1.99x	0.57x	1.32x	2.09x	7.85x	-1.79x	1.56x	-8.57x	2.19x	1.70x
Revenue Growth	-13.96%	36.93%	125.24%	-2.12%	-1.77%	-8.75%	6.48%	4.1%	9.36%	-0.64%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Americas	-	-	-	-	-	8.24B	8.48B	8.71B	9.43B	9.24B
Americas Growth	-	-	-	-	-	-	3.01%	2.67%	8.19%	-1.96%
Europe	-	1.76B	-	2B	1.93B	1.43B	1.8B	2.01B	2.3B	2.41B
Europe Growth	-	-	-	-	-3.69%	-25.76%	25.87%	11.26%	14.51%	5.01%
UNITED STATES	-	-	-	7.26B	14.49B	-	-	-	-	-
UNITED STATES Growth	-	-	-	-	99.54%	-	-	-	-	-
CANADA	1.42B	1.43B	1.36B	1.39B	1.31B	-	-	-	-	-
CANADA Growth	-	0.32%	-4.72%	2.48%	-6.08%	-	-	-	-	-
United States and Territories	94.1M	1.57B	7.49B	-	-	-	-	-	-	-
United States and Territories Growth	-	1564.82%	378.34%	-	-	-	-	-	-	-
UNITED KINGDOM	1.22B	-	1.17B	-	-	-	-	-	-	-
UNITED KINGDOM Growth	-	-	-	-	-	-	-	-	-	-
Other Foreign Countries	827.7M	-	978M	-	-	-	-	-	-	-
Other Foreign Countries Growth	-	-	-	-	-	-	-	-	-	-
MCI	-	163.6M	-	-	-	-	-	-	-	-
MCI Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Molson Coors Beverage Company (TAP) has a price-to-earnings (P/E) ratio of 9.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Molson Coors Beverage Company (TAP) reported $11.21B in revenue for fiscal year 2024. This represents a 219% increase from $3.52B in 2011.

Molson Coors Beverage Company (TAP) saw revenue decline by 0.6% over the past year.

Molson Coors Beverage Company (TAP) reported a net loss of $2.09B for fiscal year 2024.

Dividend & Returns

Yes, Molson Coors Beverage Company (TAP) pays a dividend with a yield of 3.47%. This makes it attractive for income-focused investors.

Molson Coors Beverage Company (TAP) has a return on equity (ROE) of 8.3%. This is below average, suggesting room for improvement.

Molson Coors Beverage Company (TAP) generated $1.09B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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