Molson Coors Beverage Company (TAP)
Consumer Staples · $7.0B market cap · SEC CIK 0000024545
fundamentals score out of 100
Next reports on Nov 2, 2026, before the open, with analysts expecting $1.49 in earnings per share.
The case for TAP
- Trades at 0.69× book value, below what the balance sheet says it owns.
- Free cash flow of 15.3% of its market value a year: a lot of cash for the price.
- Pays a 2.7% dividend while you wait.
- Moves less than the market (beta 0.47).
The case against
- Losing money over the last year: net margin -20.8%, return on equity -23%.
- Earnings per share down 42.1%.
- Pays a dividend while losing money over the last twelve months.
- Near the bottom of its 52-week range, 33% below the high. Falling prices usually have a reason; find it first.
- Revenue was flat on the year (-1.8%).
- Current liabilities exceed current assets (ratio 0.88).
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Staples companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 50 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 27 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 9 |
| Momentumhow the price has behaved lately | 21 |
| Stabilityhow violently it moves, what it owes and what it pays you | 70 |
- It is losing money, so it has no P/E; that counts against value rather than being skipped.
- Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.
Key numbers
| Price / earnings | n/a |
|---|---|
| Price / book | 0.69× |
| Price / sales | 0.6× |
| Revenue growth (YoY) | -1.8% |
| EPS growth (YoY) | -42.1% |
| Gross margin | 37% |
| Operating margin | -23% |
| Net margin | -21% |
| Return on equity | -23% |
| Debt / equity | 0.76× |
| Current ratio | 0.88 |
| Dividend yield | 2.73% |
| Beta | 0.47 |
| 52-week range | $37.20 – $54.82 |
| Position in that range | 0% of the way up |
| 3-month return | -4.7% |
| 1-year return | -19.3% |
Five years of financials, as filed
Pulled from Molson Coors Beverage Company's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $13.0B | $13.7B | $13.9B | $12.8B | $12.4B |
| Gross profit | $4.3B | $4.5B | $4.4B | $3.7B | $4.1B |
| Operating income | -$2.3B | $1.8B | $1.4B | $158M | $1.5B |
| Net income | -$2.1B | $1.1B | $949M | -$175M | $1.0B |
| Operating cash flow | $1.8B | $1.9B | $2.1B | $1.5B | $1.6B |
| Capital expenditure | $717M | $674M | $672M | $661M | $523M |
| Total assets | $22.7B | $26.1B | $26.4B | $25.9B | $27.6B |
| Total liabilities | $12.2B | $12.6B | $12.9B | $13.0B | $14.0B |
| Shareholder equity | $10.2B | $13.1B | $13.2B | $12.7B | $13.4B |
| Cash | $897M | $969M | $869M | $600M | $637M |
| Long-term debt | $3.9B | $6.1B | $5.3B | $6.2B | $6.6B |
| Free cash flow | $1.1B | $1.2B | $1.4B | $841M | $1.1B |
| Gross margin | 32.8% | 33.0% | 31.5% | 28.5% | 32.6% |
| Operating margin | -17.9% | 12.8% | 10.4% | 1.2% | 11.7% |
| Net margin | -16.4% | 8.2% | 6.8% | -1.4% | 8.1% |
| Diluted shares | 199M | 210M | 217M | 217M | 218M |
Share count is down 8.5% over 4 years. Buybacks have been shrinking the pie.
What Molson Coors Beverage Company says it does
Unless otherwise noted in this report, any description of "we," "us" or "our" includes Molson Coors Beverage Company ("MCBC" or the "Company"), principally a holding company, and its operating and non-operating subsidiaries included within its reporting segments. Our reporting segments include the Americas and EMEA&APAC. Unless otherwise indicated, information in this report is presented in USD and comparisons are to comparable prior periods. Our primary operating currencies, other than the USD, include the CAD, the GBP and our Central European operating currencies, such as the EUR, CZK, RON and RSD. Business and Market Overview Our History For more than two centuries, we have brewed beverages that unite people to celebrate all life’s moments. From our core power brands, Coors Light, Miller Lite, Coors Banquet, Molson Canadian, Carling and Ožujsko, to our above premium brands, including Madrí Excepcional, Staropramen, Blue…
Risk factors TAP lists in its 10-K
- Global Market Conditions and Competitive Trends
- Items Affecting the Consolidated Results of Operations
- Cobra Beer Partnership, Ltd. Buyout
- Items Affecting the Americas Segment Results of Operations
- Wind Down or Sale of Certain U.S. Craft Businesses
- Items Affecting the EMEA&APAC Segment Results of Operations
- (In millions, except percentages and per share data)
- Foreign currency impacts on results
- Other operating income (expense), net
- Marketing, general and administrative expenses
- Total non-operating income (expense), net
- Net income (loss) attributable to noncontrolling interests
- Summarized Financial Information of Obligor Group
- Cash Flows from Operating Activities