Molson Coors Beverage (TAP) Financials

$41.44 +0.10 (+0.25%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$41.90 +0.45 (+1.09%)

As of 07:17 AM Eastern

Annual Income Statements for Molson Coors Beverage

This table shows Molson Coors Beverage's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	395	1,594	1,566	1,117	242	-949	1,006	-175	949	1,122	-2,140
Consolidated Net Income / (Loss)	399	1,603	1,588	1,135	246	-946	1,009	-187	956	1,158	-2,180
Net Income / (Loss) Continuing Operations	395	1,600	1,588	1,135	246	-946	1,009	-187	956	1,158	-2,180
Total Pre-Tax Income	456	3,054	1,383	1,360	480	-644	1,239	-63	1,253	1,503	-2,518
Total Operating Income	567	3,323	1,678	1,632	764	-409	1,454	158	1,438	1,753	-2,337
Total Gross Profit	1,436	1,886	4,766	4,185	4,201	3,768	4,053	3,655	4,369	4,533	4,275
Total Revenue	3,568	6,597	13,472	13,338	13,009	11,724	12,450	12,808	13,885	13,734	13,040
Operating Revenue	3,568	6,597	13,472	13,338	13,009	11,724	12,450	12,808	13,885	13,734	13,040
Total Cost of Revenue	2,132	4,711	8,705	9,153	8,808	7,956	8,397	9,152	9,516	9,201	8,766
Operating Cost of Revenue	2,132	4,711	8,705	9,153	8,808	7,956	8,397	9,152	9,516	9,201	8,766
Total Operating Expenses	869	-1,437	3,088	2,553	3,437	4,177	2,599	3,502	2,931	2,780	6,612
Selling, General & Admin Expense	1,038	1,597	3,052	2,803	2,728	2,693	2,555	2,619	2,780	2,718	2,644
Other Operating Expenses / (Income)	-	-	-	-	-	-	45	39	151	63	322
Impairment Charge	-	-	-	-	-	1,484	0.00	845	0.00	0.00	3,646
Total Other Income / (Expense), net	-111	-269	-295	-272	-285	-235	-215	-215	-186	-250	-181
Interest Expense	120	272	349	306	281	275	260	251	234	283	248
Interest & Investment Income	8.30	27	6.00	8.00	11	3.30	2.00	9.00	25	35	21
Other Income / (Expense), net	0.90	-24	49	26	-15	36	43	26	23	-2.90	46
Income Tax Expense	62	1,454	-205	225	234	302	231	124	296	345	-338
Net Income / (Loss) Attributable to Noncontrolling Interest	3.30	5.90	22	18	4.50	3.30	2.80	-11	7.50	35	-41
Basic Earnings per Share	$2.13	-	-	-	$1.12	($4.38)	$4.63	($0.81)	$4.39	$5.38	($10.75)
Weighted Average Basic Shares Outstanding	185.30M	212M	215.40M	216M	216.60M	216.80M	217.10M	216.90M	216M	208.80M	199.10M
Diluted Earnings per Share	$2.12	-	-	-	$1.11	($4.38)	$4.62	($0.81)	$4.37	$5.35	($10.75)
Weighted Average Diluted Shares Outstanding	186.40M	213.40M	216.50M	216.60M	216.90M	216.80M	217.60M	216.90M	217.30M	209.90M	199.10M
Weighted Average Basic & Diluted Shares Outstanding	185.30M	213.80M	219.90M	216.17M	216.38M	216.80M	203.16M	202.59M	200.57M	192.72M	178.16M
Cash Dividends to Common per Share	$1.64	$0.00	$1.64	$1.64	$1.96	$0.57	$0.68	$1.52	$1.64	$1.76	$1.88

This table shows Molson Coors Beverage's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	431	103	208	427	200	288	121	429	-2,928	238	151
Consolidated Net Income / (Loss)	432	106	210	425	229	294	123	424	-2,937	209	150
Net Income / (Loss) Continuing Operations	432	106	210	425	229	294	123	424	-2,937	209	150
Total Pre-Tax Income	544	166	265	560	331	346	156	555	-3,496	266	195
Total Operating Income	592	199	314	600	451	388	186	584	-3,431	324	258
Total Gross Profit	1,346	1,033	964	1,330	1,203	1,038	851	1,282	1,174	968	897
Total Revenue	3,906	3,333	3,049	3,838	3,603	3,244	2,690	3,740	3,484	3,126	2,718
Operating Revenue	3,906	3,333	3,049	3,838	3,603	3,244	2,690	3,740	3,484	3,126	2,718
Total Cost of Revenue	2,559	2,300	2,086	2,508	2,401	2,206	1,839	2,458	2,311	2,158	1,821
Operating Cost of Revenue	2,559	2,300	2,086	2,508	2,401	2,206	1,839	2,458	2,311	2,158	1,821
Total Operating Expenses	754	846	648	730	751	652	665	698	4,605	640	639
Selling, General & Admin Expense	747	683	655	729	685	650	653	693	687	611	610
Other Operating Expenses / (Income)	7.20	163	-6.30	1.80	67	2.40	11	5.20	272	29	29
Total Other Income / (Expense), net	-48	-22	-49	-40	-120	-39	-30	-29	-64	-58	-64
Interest & Investment Income	-49	200	-49	-51	-93	231	-57	-59	-56	187	-58
Other Income / (Expense), net	0.60	12	-0.50	12	-27	13	27	30	-8.40	-1.80	-6.00
Income Tax Expense	112	60	56	135	103	53	33	131	-559	57	45
Net Income / (Loss) Attributable to Noncontrolling Interest	0.90	2.20	2.10	-1.70	29	5.90	2.10	-4.40	-9.30	-29	-1.20
Basic Earnings per Share	$1.99	$0.49	$0.98	$2.03	$0.96	$1.41	$0.60	$2.14	($14.79)	$1.30	$0.80
Weighted Average Basic Shares Outstanding	216.10M	216M	212.70M	210M	207.20M	208.80M	203M	200.50M	197.90M	199.10M	188.90M
Diluted Earnings per Share	$1.98	$0.49	$0.97	$2.03	$0.96	$1.39	$0.59	$2.13	($14.79)	$1.32	$0.80
Weighted Average Diluted Shares Outstanding	217.60M	217.30M	214.20M	210.80M	208M	209.90M	204M	201.20M	197.90M	199.10M	189.40M
Weighted Average Basic & Diluted Shares Outstanding	203.56M	200.57M	199.83M	195.15M	196.13M	192.72M	192.40M	187.95M	187.86M	178.16M	177.78M

This table details how cash moves in and out of Molson Coors Beverage's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-150	158	-168	653	-543	247	-133	-37	269	100	-73
Net Cash From Operating Activities	716	1,127	1,866	2,331	1,897	1,696	1,574	1,502	2,079	1,910	1,784
Net Cash From Continuing Operating Activities	720	1,127	1,866	2,331	1,897	1,696	1,574	1,502	2,071	1,899	1,770
Net Income / (Loss) Continuing Operations	399	1,600	1,588	1,135	246	-946	1,009	-187	956	1,158	-2,180
Consolidated Net Income / (Loss)	399	1,600	1,588	1,135	246	-946	1,009	-187	956	1,158	-2,180
Depreciation Expense	314	388	813	858	859	922	786	685	683	759	711
Amortization Expense	11	329	23	13	286	274	260	251	234	236	248
Non-Cash Adjustments To Reconcile Net Income	224	-1,363	-264	481	534	1,369	-445	936	125	12	3,138
Changes in Operating Assets and Liabilities, net	-229	173	-293	-154	-28	76	-36	-183	73	-267	-147
Net Cash From Investing Activities	-335	-12,287	-538	-669	-433	-414	-510	-625	-842	-648	-822
Net Cash From Continuing Investing Activities	-335	-12,287	-538	-669	-433	-414	-510	-625	-842	-648	-822
Purchase of Property, Plant & Equipment	-275	-342	-600	-652	-594	-575	-523	-661	-672	-674	-717
Acquisitions	-91	-11,961	-	0.00	-	-	0.00	0.00	-64	-8.60	-22
Sale of Property, Plant & Equipment	12	175	61	33	116	159	26	32	11	25	16
Other Investing Activities, net	21	8.50	0.90	-50	45	2.40	-13	4.10	-117	10	-99
Net Cash From Financing Activities	-532	11,318	-1,496	-1,009	-2,007	-1,070	-1,172	-890	-981	-1,138	-1,057
Net Cash From Continuing Financing Activities	-532	11,318	-1,496	-1,009	-2,007	-1,070	-1,172	-890	-981	-1,138	-1,057
Repayment of Debt	-820	-327	-3,057	-694	-1,587	-951	-1,029	-516	-428	-990	-33
Repurchase of Common Equity	-150	0.00	-	0.00	-	0.00	0.00	-52	-206	-643	-648
Payment of Dividends	-303	-353	-353	-354	-424	-125	-148	-329	-355	-369	-376
Issuance of Debt	707	9,461	1,910	23	3.00	1.50	0.00	7.00	7.00	864	0.00
Effect of Exchange Rate Changes	-	-	-	-	-	35	-24	-25	13	-24	22

This table details how cash moves in and out of Molson Coors Beverage's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-159	67	-411	1,189	-626	-52	-557	201	336	-54	-514
Net Cash From Operating Activities	710	475	25	869	521	495	-91	718	616	541	2.50
Net Cash From Continuing Operating Activities	710	470	25	869	521	494	-91	718	606	537	2.50
Net Income / (Loss) Continuing Operations	432	106	210	425	229	294	123	424	-2,937	209	150
Consolidated Net Income / (Loss)	432	106	210	425	229	294	123	424	-2,937	209	150
Depreciation Expense	169	174	169	168	175	247	180	170	180	181	186
Amortization Expense	176	-173	1.30	-53	171	-169	65	62	63	62	64
Non-Cash Adjustments To Reconcile Net Income	-199	371	41	99	-0.20	157	-98	-32	3,250	-7.30	-116
Changes in Operating Assets and Liabilities, net	133	-7.60	-396	230	-54	-36	-361	95	50	92	-281
Net Cash From Investing Activities	-328	-173	-213	-169	-149	-118	-341	-158	-135	-187	-230
Net Cash From Continuing Investing Activities	-328	-173	-213	-169	-149	-118	-341	-158	-135	-187	-230
Purchase of Property, Plant & Equipment	-159	-177	-215	-178	-171	-111	-237	-163	-133	-183	-232
Acquisitions	-	0.20	0.00	-	-	-8.60	-21	-	-1.50	-	0.00
Sale of Property, Plant & Equipment	1.80	3.60	1.70	8.60	4.60	9.60	2.30	2.10	1.70	9.70	1.10
Other Investing Activities, net	-107	0.40	0.50	-	17	-7.60	-86	2.80	-2.50	-14	0.50
Net Cash From Financing Activities	-527	-253	-216	502	-1,030	-394	-131	-375	-140	-410	-282
Net Cash From Continuing Financing Activities	-527	-253	-216	502	-1,030	-394	-131	-375	-140	-410	-282
Repayment of Debt	-404	-20	-5.80	-8.60	-877	-98	28	-34	-21	-4.50	-20
Repurchase of Common Equity	-34	-145	-114	-262	-62	-206	-60	-247	-26	-315	-169
Payment of Dividends	-89	-88	-97	-92	-91	-90	-99	-94	-93	-91	-94
Effect of Exchange Rate Changes	-15	-	-7.20	-13	33	-	6.60	16	-3.90	2.80	-4.10

This table presents Molson Coors Beverage's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	12,276	29,342	30,247	30,110	28,860	27,331	27,619	25,868	26,375	26,064	22,738
Total Current Assets	1,259	2,170	2,190	2,766	2,184	2,419	2,779	2,638	2,849	2,848	2,936
Cash & Equivalents	431	561	419	1,058	523	770	637	600	869	969	897
Accounts Receivable	526	805	902	871	820	687	879	866	879	843	890
Inventories, net	179	593	592	592	616	664	805	793	802	728	716
Other Current Assets	123	211	278	246	225	297	457	379	298	308	433
Plant, Property, & Equipment, net	1,591	4,507	4,674	4,608	4,547	0.00	0.00	4,223	4,445	4,460	4,769
Total Noncurrent Assets	9,447	22,665	23,384	22,735	22,129	24,912	24,840	19,008	19,082	18,756	15,034
Goodwill	1,983	8,250	8,406	8,261	7,631	6,151	6,153	5,292	5,325	5,582	1,945
Intangible Assets	4,746	14,032	14,297	13,776	13,656	13,556	13,287	12,800	12,615	12,195	11,991
Other Noncurrent Operating Assets	257	383	682	698	842	5,205	5,401	916	1,142	978	1,098
Total Liabilities & Shareholders' Equity	12,276	29,342	30,247	30,110	28,860	27,331	27,619	25,868	26,375	26,064	22,738
Total Liabilities	5,213	17,720	17,060	16,374	15,187	14,710	13,955	12,953	12,940	12,612	12,196
Total Current Liabilities	1,217	3,158	3,399	4,301	3,696	3,910	3,622	3,375	4,093	3,045	5,311
Short-Term Debt	29	685	715	1,595	928	1,020	515	397	912	32	2,434
Accounts Payable	1,184	2,468	2,685	2,706	2,767	2,890	3,107	2,978	3,181	3,013	2,877
Total Noncurrent Liabilities	4,004	14,562	13,660	12,073	11,491	10,800	10,333	9,578	8,847	9,566	6,885
Long-Term Debt	2,909	11,388	10,599	8,894	8,110	7,208	6,647	6,165	5,312	6,114	3,865
Noncurrent Deferred & Payable Income Tax Liabilities	808	1,699	1,896	2,129	2,259	2,382	2,705	2,646	2,697	2,733	2,285
Noncurrent Employee Benefit Liabilities	202	1,196	849	727	717	763	654	473	466	417	427
Other Noncurrent Operating Liabilities	75	267	317	324	407	447	327	293	372	302	308
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	-	-	-	-	-	-	0.00	28	169	116
Total Equity & Noncontrolling Interests	7,063	11,622	13,187	13,736	13,673	12,621	13,664	12,915	13,407	13,284	10,427
Total Preferred & Common Equity	7,043	11,419	12,978	13,507	13,419	12,365	13,417	12,690	13,196	13,092	10,230
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	7,043	11,419	12,978	13,507	13,419	12,365	13,417	12,690	13,196	13,092	10,230
Common Stock	4,713	6,637	7,351	7,436	7,436	6,940	6,973	7,009	7,111	7,226	7,249
Retained Earnings	4,496	6,145	6,958	7,693	7,617	6,544	7,402	6,894	7,484	8,238	5,724
Treasury Stock	-471	-471	-471	-471	-471	-471	-471	-523	-736	-1,381	-2,039
Accumulated Other Comprehensive Income / (Loss)	-1,695	-1,572	-860	-1,150	-1,162	-1,168	-1,006	-1,206	-1,116	-1,362	-1,072
Other Equity Adjustments	-	679	-	-	-	520	520	516	453	372	368
Noncontrolling Interest	20	203	209	228	254	256	247	226	211	192	197

This table presents Molson Coors Beverage's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	26,790	26,568	26,375	26,072	27,394	26,635	26,064	25,931	26,827	22,873	22,368
Total Current Assets	3,329	3,088	2,849	2,677	4,038	3,230	2,848	2,564	3,076	3,230	2,744
Cash & Equivalents	961	802	869	458	1,647	1,022	969	413	614	950	383
Accounts Receivable	1,144	1,080	879	1,016	1,205	1,018	843	909	1,155	994	972
Inventories, net	863	853	802	871	849	833	728	871	902	821	813
Other Current Assets	361	353	298	332	337	356	308	371	405	466	577
Plant, Property, & Equipment, net	4,338	4,268	4,445	4,443	4,473	4,497	4,460	4,506	4,633	4,627	4,700
Total Noncurrent Assets	19,122	19,212	19,082	18,952	18,884	18,909	18,756	18,861	19,117	15,016	14,924
Goodwill	5,296	5,321	5,325	5,321	5,322	5,318	5,582	5,582	5,592	1,944	1,944
Intangible Assets	12,807	12,712	12,615	12,472	12,394	12,408	12,195	12,205	12,394	12,015	11,882
Other Noncurrent Operating Assets	1,019	1,179	1,142	1,159	1,168	1,183	978	1,075	1,131	1,058	1,098
Total Liabilities & Shareholders' Equity	26,790	26,568	26,375	26,072	27,394	26,635	26,064	25,931	26,827	22,873	22,368
Total Liabilities	13,533	13,080	12,940	12,714	13,979	13,068	12,612	12,479	13,030	12,205	12,003
Total Current Liabilities	3,830	4,238	4,093	3,863	4,236	3,248	3,045	2,866	3,241	5,345	5,124
Short-Term Debt	423	879	912	906	894	38	32	83	62	2,407	2,423
Accounts Payable	3,407	3,359	3,181	2,958	3,342	3,211	3,013	2,783	3,178	2,938	2,701
Total Noncurrent Liabilities	9,703	8,843	8,847	8,851	9,742	9,819	9,566	9,613	9,789	6,860	6,879
Long-Term Debt	6,192	5,301	5,312	5,312	6,162	6,203	6,114	6,155	6,257	3,885	3,849
Noncurrent Deferred & Payable Income Tax Liabilities	2,671	2,707	2,697	2,707	2,760	2,795	2,733	2,738	2,794	2,243	2,309
Noncurrent Employee Benefit Liabilities	469	463	466	459	455	453	417	414	415	410	420
Other Noncurrent Operating Liabilities	371	372	372	373	365	369	302	306	323	323	301
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	-	28	28	27	27	42	169	166	160	146	114
Total Equity & Noncontrolling Interests	13,257	13,460	13,407	13,331	13,389	13,526	13,284	13,286	13,636	10,523	10,251
Total Preferred & Common Equity	13,031	13,246	13,196	13,120	13,180	13,345	13,092	13,090	13,441	10,325	10,056
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	13,031	13,246	13,196	13,120	13,180	13,345	13,092	13,090	13,441	10,325	10,056
Common Stock	7,062	7,102	7,111	7,109	7,122	7,213	7,226	7,225	7,233	7,242	7,247
Retained Earnings	7,129	7,470	7,484	7,597	7,932	8,040	8,238	8,263	8,598	5,577	5,784
Treasury Stock	-550	-584	-736	-847	-1,110	-1,173	-1,381	-1,441	-1,690	-1,716	-2,205
Accumulated Other Comprehensive Income / (Loss)	-1,093	-1,199	-1,116	-1,193	-1,217	-1,107	-1,362	-1,325	-1,067	-1,145	-1,138
Other Equity Adjustments	483	457	453	453	453	372	372	368	368	368	368
Noncontrolling Interest	226	214	211	211	209	180	192	196	196	198	195

This table displays calculated financial ratios and metrics derived from Molson Coors Beverage's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-39.81%	84.93%	104.19%	-0.99%	-2.47%	-9.88%	6.19%	2.87%	8.41%	-1.08%	-5.05%
EBITDA Growth	-24.14%	349.38%	-36.19%	-1.34%	-25.06%	-56.54%	208.89%	-56.00%	92.07%	17.00%	-148.49%
EBIT Growth	-21.10%	480.62%	-47.66%	-3.97%	-54.78%	-149.70%	501.85%	-87.72%	694.94%	19.79%	-230.87%
NOPAT Growth	-23.44%	254.67%	10.65%	-29.30%	-71.20%	-172.99%	513.59%	-90.69%	896.10%	22.97%	-221.14%
Net Income Growth	-23.04%	302.16%	-0.92%	-28.54%	-78.30%	-484.12%	206.64%	-118.49%	612.82%	21.05%	-288.32%
EPS Growth	-23.19%	0.00%	0.00%	0.00%	0.00%	-494.59%	205.48%	-117.53%	639.51%	22.43%	-300.93%
Operating Cash Flow Growth	-44.41%	57.41%	65.61%	24.92%	-18.62%	-10.63%	-7.21%	-4.54%	38.42%	-8.11%	-6.59%
Free Cash Flow Firm Growth	-32.71%	-1,117.74%	106.98%	129.00%	-39.81%	32.88%	-41.01%	32.30%	-16.60%	27.45%	-30.64%
Invested Capital Growth	-11.28%	223.57%	4.02%	-3.80%	-4.23%	-9.50%	0.54%	-6.50%	-0.46%	-0.85%	-14.41%
Revenue Q/Q Growth	-34.88%	92.04%	8.38%	-13.17%	0.51%	12.18%	-8.59%	-0.38%	1.37%	-0.65%	-0.90%
EBITDA Q/Q Growth	-23.00%	256.38%	-51.29%	6.71%	28.18%	-65.60%	126.23%	-44.56%	29.60%	11.86%	6.08%
EBIT Q/Q Growth	-6.33%	279.84%	-56.07%	-5.81%	22.98%	-131.57%	3,597.04%	-78.98%	96.65%	12.13%	-3.54%
NOPAT Q/Q Growth	-4.66%	100.92%	14.50%	-36.01%	44.98%	-136.58%	25,141.53%	-83.37%	202.40%	17.73%	-2.81%
Net Income Q/Q Growth	-5.90%	162.46%	-14.94%	-38.38%	55.82%	-259.72%	325.21%	-138.40%	266.30%	19.41%	-4.03%
EPS Q/Q Growth	-6.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	20.22%	-0.66%
Operating Cash Flow Q/Q Growth	1.04%	29.96%	13.65%	-7.20%	3.79%	-19.34%	7.03%	5.53%	4.52%	1.06%	2.66%
Free Cash Flow Firm Q/Q Growth	-15.50%	-1,394.99%	106.56%	-0.02%	-29.12%	12.79%	-16.93%	6.81%	24.02%	23.19%	-11.56%
Invested Capital Q/Q Growth	-4.03%	220.63%	0.08%	-3.12%	-0.28%	-6.24%	0.31%	-2.99%	-0.40%	-0.84%	-0.41%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	40.25%	28.59%	35.38%	31.38%	32.29%	32.14%	32.56%	28.54%	31.47%	33.01%	32.78%
EBITDA Margin	25.05%	60.87%	19.02%	18.95%	14.56%	7.02%	20.43%	8.74%	15.48%	18.31%	-10.21%
Operating Margin	15.90%	50.36%	12.45%	12.23%	5.88%	-3.49%	11.68%	1.23%	10.36%	12.77%	-17.92%
EBIT Margin	15.92%	50.00%	12.82%	12.43%	5.76%	-3.18%	12.03%	1.44%	10.52%	12.74%	-17.57%
Profit (Net Income) Margin	11.17%	24.29%	11.79%	8.51%	1.89%	-8.07%	8.10%	-1.46%	6.89%	8.43%	-16.72%
Tax Burden Percent	87.37%	52.47%	114.79%	83.44%	51.30%	146.87%	81.40%	298.40%	76.36%	77.03%	86.58%
Interest Burden Percent	80.29%	92.59%	80.12%	82.01%	64.01%	172.81%	82.75%	-34.00%	85.72%	85.87%	109.92%
Effective Tax Rate	13.48%	47.62%	-14.79%	16.56%	48.70%	0.00%	18.60%	0.00%	23.64%	22.97%	0.00%
Return on Invested Capital (ROIC)	6.45%	11.49%	8.15%	5.76%	1.73%	-1.35%	5.88%	0.56%	5.83%	7.22%	-9.46%
ROIC Less NNEP Spread (ROIC-NNEP)	-61.76%	9.11%	5.14%	3.53%	0.10%	-9.61%	3.37%	-4.19%	3.33%	3.56%	-19.75%
Return on Net Nonoperating Assets (RNNOA)	-1.12%	5.67%	4.65%	2.67%	0.07%	-5.84%	1.79%	-1.97%	1.43%	1.39%	-8.71%
Return on Equity (ROE)	5.33%	17.15%	12.80%	8.43%	1.80%	-7.19%	7.67%	-1.40%	7.26%	8.61%	-18.17%
Cash Return on Invested Capital (CROIC)	18.41%	-94.08%	4.21%	9.64%	6.05%	8.62%	5.34%	7.28%	6.30%	8.08%	6.06%
Operating Return on Assets (OROA)	4.33%	15.85%	5.79%	5.49%	2.54%	-1.33%	5.45%	0.69%	5.59%	6.68%	-9.39%
Return on Assets (ROA)	3.04%	7.70%	5.33%	3.76%	0.84%	-3.37%	3.67%	-0.70%	3.66%	4.42%	-8.93%
Return on Common Equity (ROCE)	5.32%	16.95%	12.59%	8.29%	1.76%	-7.05%	7.53%	-1.38%	7.13%	8.42%	-17.66%
Return on Equity Simple (ROE_SIMPLE)	5.66%	14.03%	12.23%	8.40%	1.83%	-7.65%	7.52%	-1.47%	7.25%	8.84%	0.00%
Net Operating Profit after Tax (NOPAT)	491	1,740	1,926	1,362	392	-286	1,184	110	1,098	1,350	-1,636
NOPAT Margin	13.76%	26.38%	14.30%	10.21%	3.01%	-2.44%	9.51%	0.86%	7.91%	9.83%	-12.54%
Net Nonoperating Expense Percent (NNEP)	68.21%	2.37%	3.02%	2.23%	1.63%	8.26%	2.51%	4.75%	2.51%	3.66%	10.29%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	0.57%	5.59%	6.95%	-9.78%
Cost of Revenue to Revenue	59.75%	71.41%	64.62%	68.63%	67.71%	67.86%	67.44%	71.46%	68.53%	66.99%	67.22%
SG&A Expenses to Revenue	29.10%	24.21%	22.66%	21.01%	20.97%	22.97%	20.52%	20.45%	20.02%	19.79%	20.27%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24.35%	-21.78%	22.93%	19.14%	26.42%	35.63%	20.88%	27.35%	21.19%	20.26%	50.70%
Earnings before Interest and Taxes (EBIT)	568	3,299	1,727	1,658	750	-373	1,497	184	1,461	1,750	-2,291
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	894	4,016	2,563	2,528	1,895	824	2,544	1,119	2,150	2,515	-1,332
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.03	1.53	1.16	0.78	0.79	0.73	0.65	0.78	0.92	0.86	0.86
Price to Tangible Book Value (P/TBV)	45.43	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.00	2.65	1.12	0.79	0.81	0.77	0.70	0.77	0.87	0.82	0.67
Price to Earnings (P/E)	36.10	10.98	9.63	9.48	43.73	0.00	8.71	0.00	12.73	10.02	0.00
Dividend Yield	2.12%	2.01%	2.34%	3.34%	4.01%	5.12%	1.58%	3.13%	2.76%	3.07%	4.03%
Earnings Yield	2.77%	9.11%	10.39%	10.55%	2.29%	0.00%	11.48%	0.00%	7.85%	9.98%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.01	1.26	1.09	0.87	0.87	0.83	0.77	0.85	0.94	0.90	0.91
Enterprise Value to Revenue (EV/Rev)	4.02	4.43	1.94	1.52	1.49	1.42	1.25	1.25	1.27	1.22	1.11
Enterprise Value to EBITDA (EV/EBITDA)	16.06	7.28	10.22	8.01	10.21	20.27	6.11	14.33	8.22	6.67	0.00
Enterprise Value to EBIT (EV/EBIT)	25.26	8.86	15.16	12.21	25.79	0.00	10.38	87.25	12.10	9.59	0.00
Enterprise Value to NOPAT (EV/NOPAT)	29.25	16.79	13.59	14.87	49.31	0.00	13.12	145.46	16.10	12.43	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	20.05	25.93	14.03	8.68	10.19	9.84	9.87	10.68	8.50	8.78	8.12
Enterprise Value to Free Cash Flow (EV/FCFF)	10.25	0.00	26.32	8.89	14.11	9.16	14.46	11.28	14.91	11.10	13.82
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.42	1.04	0.86	0.76	0.66	0.65	0.52	0.51	0.46	0.46	0.60
Long-Term Debt to Equity	0.41	0.98	0.80	0.65	0.59	0.57	0.49	0.48	0.40	0.45	0.37
Financial Leverage	0.02	0.62	0.90	0.75	0.65	0.61	0.53	0.47	0.43	0.39	0.44
Leverage Ratio	1.76	2.23	2.40	2.24	2.15	2.14	2.09	2.01	1.98	1.95	2.03
Compound Leverage Factor	1.41	2.06	1.92	1.84	1.38	3.69	1.73	-0.68	1.70	1.67	2.24
Debt to Total Capital	29.37%	50.95%	46.18%	43.30%	39.79%	39.47%	34.39%	33.69%	31.66%	31.36%	37.40%
Short-Term Debt to Total Capital	0.29%	2.89%	2.92%	6.58%	4.09%	4.89%	2.47%	2.04%	4.64%	0.16%	14.45%
Long-Term Debt to Total Capital	29.09%	48.06%	43.26%	36.71%	35.71%	34.57%	31.92%	31.65%	27.02%	31.20%	22.95%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.20%	0.86%	0.85%	0.94%	1.12%	1.23%	1.19%	1.16%	1.22%	1.84%	1.85%
Common Equity to Total Capital	70.43%	48.19%	52.97%	55.76%	59.09%	59.31%	64.42%	65.15%	67.12%	66.80%	60.74%
Debt to EBITDA	3.29	3.01	4.42	4.15	4.77	9.99	2.82	5.86	2.90	2.44	-4.73
Net Debt to EBITDA	0.07	2.87	4.25	3.73	4.49	9.06	2.57	5.33	2.49	2.06	-4.06
Long-Term Debt to EBITDA	3.26	2.84	4.14	3.52	4.28	8.75	2.61	5.51	2.47	2.43	-2.90
Debt to NOPAT	5.99	6.94	5.87	7.70	23.05	-28.75	6.05	59.52	5.67	4.55	-3.85
Net Debt to NOPAT	0.13	6.61	5.66	6.93	21.71	-26.06	5.51	54.08	4.88	3.83	-3.30
Long-Term Debt to NOPAT	5.93	6.54	5.50	6.53	20.68	-25.18	5.62	55.92	4.84	4.53	-2.36
Altman Z-Score	2.60	1.44	1.44	1.31	1.26	1.02	1.35	1.31	1.61	1.72	0.90
Noncontrolling Interest Sharing Ratio	0.29%	1.19%	1.66%	1.62%	1.76%	1.94%	1.91%	1.78%	1.76%	2.23%	2.80%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.03	0.69	0.64	0.64	0.59	0.62	0.77	0.78	0.70	0.94	0.55
Quick Ratio	0.79	0.43	0.39	0.45	0.36	0.37	0.42	0.43	0.43	0.60	0.34
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,401	-14,256	995	2,278	1,371	1,822	1,075	1,422	1,186	1,511	1,048
Operating Cash Flow to CapEx	272.00%	673.58%	346.19%	376.50%	397.01%	407.62%	316.85%	238.72%	314.71%	294.07%	254.62%
Free Cash Flow to Firm to Interest Expense	11.64	-52.49	2.85	7.44	4.88	6.63	4.13	5.67	5.07	5.35	4.23
Operating Cash Flow to Interest Expense	5.95	4.15	5.34	7.61	6.75	6.18	6.04	5.99	8.88	6.76	7.20
Operating Cash Flow Less CapEx to Interest Expense	3.76	3.53	3.80	5.59	5.05	4.66	4.14	3.48	6.06	4.46	4.37
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.27	0.32	0.45	0.44	0.44	0.42	0.45	0.48	0.53	0.52	0.53
Accounts Receivable Turnover	6.77	9.91	15.78	15.05	15.38	15.56	15.90	14.67	15.91	15.95	15.05
Inventory Turnover	10.51	12.21	14.70	15.47	14.59	12.43	11.43	11.46	11.93	12.03	12.14
Fixed Asset Turnover	2.11	2.16	2.93	2.87	2.84	0.00	0.00	0.00	3.20	3.08	2.83
Accounts Payable Turnover	1.71	2.58	3.38	3.40	3.22	2.81	2.80	3.01	3.09	2.97	2.98
Days Sales Outstanding (DSO)	53.90	36.82	23.13	24.26	23.73	23.47	22.96	24.87	22.94	22.89	24.26
Days Inventory Outstanding (DIO)	34.72	29.90	24.83	23.59	25.02	29.37	31.93	31.86	30.59	30.35	30.06
Days Payable Outstanding (DPO)	213.13	141.47	108.01	107.49	113.42	129.77	130.34	121.35	118.12	122.85	122.62
Cash Conversion Cycle (CCC)	-124.52	-74.74	-60.06	-59.63	-64.67	-76.93	-75.45	-64.62	-64.59	-69.62	-68.31
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	7,155	23,151	24,082	23,166	22,187	20,080	20,189	18,878	18,790	18,630	15,946
Invested Capital Turnover	0.47	0.44	0.57	0.56	0.57	0.55	0.62	0.66	0.74	0.73	0.75
Increase / (Decrease) in Invested Capital	-910	15,996	931	-916	-979	-2,108	109	-1,311	-87	-161	-2,684
Enterprise Value (EV)	14,351	29,220	26,177	20,246	19,338	16,692	15,534	16,037	17,676	16,779	14,485
Market Capitalization	14,266	17,506	15,074	10,587	10,570	8,977	8,763	9,849	12,082	11,242	8,769
Book Value per Share	$38.17	$53.14	$60.25	$62.60	$62.02	$57.07	$66.05	$62.60	$64.83	$66.75	$54.46
Tangible Book Value per Share	$1.70	($50.56)	($45.14)	($39.53)	($36.37)	($33.88)	($29.64)	($26.65)	($23.31)	($23.89)	($19.72)
Total Capital	10,001	23,694	24,501	24,224	22,711	20,850	20,826	19,478	19,659	19,599	16,842
Total Debt	2,937	12,073	11,314	10,488	9,038	8,228	7,162	6,562	6,224	6,146	6,300
Total Long-Term Debt	2,909	11,388	10,599	8,894	8,110	7,208	6,647	6,165	5,312	6,114	3,865
Net Debt	66	11,512	10,895	9,430	8,514	7,458	6,525	5,962	5,355	5,177	5,403
Capital Expenditures (CapEx)	263	167	539	619	478	416	497	629	661	650	701
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-361	-864	-913	-998	-1,106	-1,241	-966	-940	-1,201	-1,134	-838
Debt-free Net Working Capital (DFNWC)	70	-303	-495	60	-583	-471	-329	-340	-332	-165	59
Net Working Capital (NWC)	42	-988	-1,210	-1,535	-1,511	-1,491	-844	-737	-1,244	-197	-2,375
Net Nonoperating Expense (NNE)	92	138	338	227	146	659	175	297	142	193	544
Net Nonoperating Obligations (NNO)	92	11,529	10,895	9,430	8,514	7,458	6,525	5,962	5,355	5,177	5,403
Total Depreciation and Amortization (D&A)	326	717	836	870	1,145	1,196	1,046	935	689	765	959
Debt-free, Cash-free Net Working Capital to Revenue	-10.11%	-13.10%	-6.78%	-7.48%	-8.50%	-10.58%	-7.76%	-7.34%	-8.65%	-8.26%	-6.42%
Debt-free Net Working Capital to Revenue	1.97%	-4.59%	-3.67%	0.45%	-4.48%	-4.01%	-2.64%	-2.66%	-2.39%	-1.20%	0.45%
Net Working Capital to Revenue	1.17%	-14.97%	-8.98%	-11.51%	-11.62%	-12.72%	-6.78%	-5.76%	-8.96%	-1.43%	-18.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$6.57	$0.00	$0.00	$0.00	$4.63	($0.81)	$4.39	$5.38	($10.75)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	215.40M	216M	216.60M	216.80M	217.10M	216.90M	216M	208.80M	199.10M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$6.53	$0.00	$0.00	$0.00	$4.62	($0.81)	$4.37	$5.35	($10.75)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	216.50M	216.60M	216.90M	216.80M	217.60M	216.90M	217.30M	209.90M	199.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	215.56M	216.17M	216.38M	216.78M	203.16M	202.59M	200.57M	192.72M	178.16M
Normalized Net Operating Profit after Tax (NOPAT)	344	151	1,200	1,153	756	753	1,184	702	1,098	1,350	916
Normalized NOPAT Margin	9.64%	2.29%	8.91%	8.65%	5.81%	6.42%	9.51%	5.48%	7.91%	9.83%	7.03%
Pre Tax Income Margin	12.78%	46.29%	10.27%	10.19%	3.69%	-5.49%	9.95%	-0.49%	9.02%	10.94%	-19.31%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.72	12.14	4.94	5.41	2.67	-1.36	5.75	0.73	6.24	6.19	-9.24
NOPAT to Interest Expense	4.08	6.41	5.51	4.45	1.40	-1.04	4.55	0.44	4.69	4.78	-6.60
EBIT Less CapEx to Interest Expense	2.53	11.53	3.40	3.39	0.97	-2.87	3.84	-1.78	3.42	3.89	-12.07
NOPAT Less CapEx to Interest Expense	1.89	5.79	3.97	2.42	-0.31	-2.56	2.64	-2.07	1.87	2.48	-9.43
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	76.14%	22.02%	22.26%	31.22%	172.38%	-13.25%	14.66%	-176.57%	37.09%	31.89%	-17.26%
Augmented Payout Ratio	113.80%	22.02%	22.26%	31.22%	172.38%	-13.25%	14.66%	-204.18%	58.61%	87.47%	-46.98%

This table displays calculated financial ratios and metrics derived from Molson Coors Beverage's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	178,155,656.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	178,155,656.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.85
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	11.04%	5.97%	9.89%	-0.85%	-7.74%	-2.69%	-11.78%	-2.56%	-3.30%	-3.63%	1.03%
EBITDA Growth	35.99%	176.68%	36.70%	19.86%	-17.72%	125.11%	-6.11%	-5.12%	-584.03%	-20.36%	9.68%
EBIT Growth	78.72%	141.78%	94.91%	23.28%	-28.39%	89.46%	-32.15%	0.38%	-910.25%	-19.56%	18.51%
NOPAT Growth	78.16%	135.48%	118.73%	18.83%	-33.70%	159.08%	-40.97%	-2.02%	-871.01%	-22.56%	35.71%
Net Income Growth	97.89%	117.89%	186.75%	22.88%	-46.99%	178.39%	-41.35%	-0.24%	-1,383.61%	-28.74%	21.93%
EPS Growth	100.00%	0.00%	193.94%	29.30%	-51.52%	183.67%	-39.18%	4.93%	-1,640.63%	-5.04%	35.59%
Operating Cash Flow Growth	57.55%	23.41%	647.06%	-2.45%	-26.60%	4.22%	-457.09%	-17.36%	18.21%	9.34%	102.76%
Free Cash Flow Firm Growth	14.05%	-77.50%	-81.16%	-62.27%	-63.20%	128.38%	-104.06%	-142.74%	-4.27%	500.04%	25,520.92%
Invested Capital Growth	-3.05%	-0.46%	-0.33%	-0.46%	-0.42%	-0.85%	0.83%	3.60%	-14.78%	-14.41%	-15.68%
Revenue Q/Q Growth	0.89%	-14.66%	-8.51%	25.87%	-6.12%	-9.98%	-17.06%	39.02%	-6.84%	-10.29%	-13.05%
EBITDA Q/Q Growth	54.67%	-77.26%	39.03%	34.91%	6.18%	-37.78%	-5.25%	85.94%	-478.30%	117.70%	-11.29%
EBIT Q/Q Growth	19.59%	-64.31%	48.30%	94.74%	-30.54%	-5.56%	-46.89%	188.12%	-660.73%	109.38%	-21.77%
NOPAT Q/Q Growth	22.58%	-72.96%	95.66%	83.23%	-31.60%	5.66%	-55.42%	204.13%	-638.22%	110.61%	-21.87%
Net Income Q/Q Growth	24.70%	-75.56%	98.96%	102.62%	-46.20%	28.37%	-58.09%	244.68%	-792.18%	107.13%	-28.28%
EPS Q/Q Growth	26.11%	-75.25%	97.96%	109.28%	-52.71%	44.79%	-57.55%	261.02%	-794.37%	108.92%	-39.39%
Operating Cash Flow Q/Q Growth	-20.30%	-33.18%	-94.65%	3,322.05%	-40.04%	-5.12%	-118.34%	891.95%	-14.23%	-12.24%	-99.54%
Free Cash Flow Firm Q/Q Growth	-26.09%	-79.82%	45.62%	73.71%	-27.92%	25.25%	-102.59%	-1,729.61%	261.45%	685.05%	9.62%
Invested Capital Q/Q Growth	-0.24%	-0.40%	1.74%	-1.53%	-0.20%	-0.84%	3.48%	1.17%	-17.90%	-0.41%	1.94%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.47%	30.99%	31.60%	34.65%	33.37%	31.99%	31.63%	34.28%	33.68%	30.98%	33.01%
EBITDA Margin	23.99%	6.39%	17.65%	18.92%	21.40%	14.79%	16.89%	22.60%	-91.75%	18.10%	18.47%
Operating Margin	15.16%	5.98%	10.31%	15.62%	12.52%	11.97%	6.93%	15.60%	-98.47%	10.37%	9.50%
EBIT Margin	15.18%	6.35%	10.29%	15.92%	11.78%	12.36%	7.91%	16.40%	-98.71%	10.32%	9.28%
Profit (Net Income) Margin	11.05%	3.17%	6.88%	11.08%	6.35%	9.05%	4.58%	11.34%	-84.29%	6.70%	5.52%
Tax Burden Percent	79.34%	63.75%	79.09%	75.96%	69.04%	84.81%	78.76%	76.46%	84.02%	78.60%	77.09%
Interest Burden Percent	91.77%	78.21%	84.58%	91.62%	78.07%	86.38%	73.41%	90.46%	101.63%	82.57%	77.17%
Effective Tax Rate	20.66%	36.25%	20.91%	24.04%	30.96%	15.19%	21.24%	23.54%	0.00%	21.40%	22.91%
Return on Invested Capital (ROIC)	8.60%	2.81%	6.03%	8.88%	6.35%	7.45%	3.80%	8.27%	-52.13%	6.15%	5.39%
ROIC Less NNEP Spread (ROIC-NNEP)	7.93%	2.43%	5.38%	8.34%	4.79%	6.78%	3.39%	7.87%	-62.27%	5.29%	4.55%
Return on Net Nonoperating Assets (RNNOA)	3.37%	1.04%	2.46%	3.46%	1.87%	2.65%	1.47%	3.22%	-27.13%	2.33%	2.24%
Return on Equity (ROE)	11.97%	3.85%	8.49%	12.34%	8.22%	10.10%	5.27%	11.48%	-79.26%	8.48%	7.63%
Cash Return on Invested Capital (CROIC)	4.99%	6.30%	6.76%	7.37%	6.52%	8.08%	5.67%	2.93%	6.81%	6.06%	8.09%
Operating Return on Assets (OROA)	7.80%	3.37%	5.61%	8.30%	6.12%	6.47%	4.07%	8.03%	-52.47%	5.51%	5.02%
Return on Assets (ROA)	5.68%	1.68%	3.75%	5.78%	3.30%	4.74%	2.35%	5.56%	-44.80%	3.58%	2.99%
Return on Common Equity (ROCE)	11.76%	3.79%	8.34%	12.13%	8.08%	9.88%	5.15%	11.23%	-77.41%	8.25%	7.41%
Return on Equity Simple (ROE_SIMPLE)	1.97%	0.00%	8.33%	8.89%	7.26%	0.00%	8.18%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	470	127	249	455	312	329	147	446	-2,402	255	199
NOPAT Margin	12.03%	3.81%	8.15%	11.87%	8.65%	10.15%	5.45%	11.93%	-68.93%	8.15%	7.33%
Net Nonoperating Expense Percent (NNEP)	0.67%	0.38%	0.64%	0.55%	1.56%	0.67%	0.41%	0.39%	10.13%	0.86%	0.84%
Return On Investment Capital (ROIC_SIMPLE)	-	0.65%	-	-	-	1.69%	0.75%	2.24%	-14.28%	1.52%	1.21%
Cost of Revenue to Revenue	65.53%	69.01%	68.40%	65.35%	66.63%	68.01%	68.37%	65.72%	66.32%	69.02%	66.99%
SG&A Expenses to Revenue	19.12%	20.50%	21.47%	18.98%	19.00%	20.03%	24.28%	18.53%	19.71%	19.54%	22.44%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	19.31%	25.37%	21.29%	19.03%	20.85%	20.10%	24.87%	18.67%	132.15%	20.46%	23.51%
Earnings before Interest and Taxes (EBIT)	593	212	314	611	425	401	213	613	-3,440	323	252
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	937	213	538	726	771	480	455	845	-3,197	566	502
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.95	0.92	1.03	0.77	0.84	0.86	0.90	0.69	0.82	0.86	0.76
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.92	0.87	0.96	0.72	0.81	0.82	0.88	0.70	0.65	0.67	0.59
Price to Earnings (P/E)	49.21	12.73	12.52	8.69	11.97	10.02	11.33	8.92	0.00	0.00	0.00
Dividend Yield	2.61%	2.76%	2.50%	3.34%	3.01%	3.07%	2.94%	3.78%	4.09%	4.03%	4.39%
Earnings Yield	2.03%	7.85%	7.99%	11.51%	8.36%	9.98%	8.83%	11.21%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.96	0.94	1.02	0.84	0.89	0.90	0.93	0.79	0.89	0.91	0.85
Enterprise Value to Revenue (EV/Rev)	1.33	1.27	1.38	1.12	1.21	1.22	1.34	1.15	1.08	1.11	1.06
Enterprise Value to EBITDA (EV/EBITDA)	10.96	8.22	8.53	6.54	7.41	6.67	7.21	6.28	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	24.46	12.10	12.13	9.14	10.68	9.59	10.86	9.27	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	50.04	16.10	15.90	12.13	14.53	12.43	14.35	12.35	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	9.14	8.50	9.32	7.60	8.82	8.78	9.99	9.32	8.16	8.12	7.39
Enterprise Value to Free Cash Flow (EV/FCFF)	19.01	14.91	15.12	11.37	13.59	11.10	16.45	27.27	11.98	13.82	9.65
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.46	0.46	0.47	0.53	0.46	0.46	0.46	0.46	0.59	0.60	0.61
Long-Term Debt to Equity	0.39	0.40	0.40	0.46	0.46	0.45	0.46	0.45	0.36	0.37	0.37
Financial Leverage	0.43	0.43	0.46	0.41	0.39	0.39	0.43	0.41	0.44	0.44	0.49
Leverage Ratio	1.98	1.98	1.98	2.03	1.97	1.95	1.94	1.99	2.04	2.03	2.03
Compound Leverage Factor	1.82	1.55	1.67	1.86	1.54	1.68	1.42	1.80	2.08	1.68	1.56
Debt to Total Capital	31.42%	31.66%	31.76%	34.47%	31.51%	31.36%	31.68%	31.41%	37.10%	37.40%	37.70%
Short-Term Debt to Total Capital	4.47%	4.64%	4.63%	4.37%	0.19%	0.16%	0.42%	0.31%	14.19%	14.45%	14.57%
Long-Term Debt to Total Capital	26.95%	27.02%	27.14%	30.10%	31.32%	31.20%	31.26%	31.10%	22.90%	22.95%	23.13%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	1.23%	1.22%	1.22%	1.15%	1.12%	1.84%	1.84%	1.77%	2.03%	1.85%	1.86%
Common Equity to Total Capital	67.35%	67.12%	67.02%	64.38%	67.37%	66.80%	66.48%	66.82%	60.88%	60.74%	60.44%
Debt to EBITDA	3.73	2.90	2.71	2.92	2.78	2.44	2.51	2.59	-4.44	-4.73	-4.87
Net Debt to EBITDA	3.24	2.49	2.51	2.24	2.32	2.06	2.34	2.34	-3.77	-4.06	-4.58
Long-Term Debt to EBITDA	3.20	2.47	2.32	2.55	2.76	2.43	2.48	2.56	-2.74	-2.90	-2.99
Debt to NOPAT	17.02	5.67	5.05	5.42	5.44	4.55	5.00	5.10	-3.95	-3.85	-3.96
Net Debt to NOPAT	14.81	4.88	4.68	4.15	4.55	3.83	4.67	4.60	-3.36	-3.30	-3.71
Long-Term Debt to NOPAT	14.60	4.84	4.32	4.73	5.41	4.53	4.93	5.05	-2.44	-2.36	-2.43
Altman Z-Score	1.51	1.45	1.58	1.42	1.51	1.55	1.54	1.44	0.73	1.28	1.24
Noncontrolling Interest Sharing Ratio	1.74%	1.76%	1.75%	1.73%	1.72%	2.23%	2.24%	2.18%	2.34%	2.80%	2.82%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.73	0.70	0.69	0.95	0.99	0.94	0.89	0.95	0.60	0.55	0.54
Quick Ratio	0.44	0.43	0.38	0.67	0.63	0.60	0.46	0.55	0.36	0.34	0.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,063	214	312	542	391	490	-13	-232	374	2,939	3,221
Operating Cash Flow to CapEx	451.72%	273.02%	11.92%	514.62%	313.60%	487.19%	-38.60%	445.60%	468.87%	312.18%	1.08%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.51	0.53	0.55	0.52	0.52	0.52	0.51	0.49	0.53	0.53	0.54
Accounts Receivable Turnover	13.24	15.91	14.59	12.03	13.17	15.95	13.89	11.25	13.08	15.05	13.90
Inventory Turnover	10.98	11.93	10.74	11.04	11.03	12.03	10.28	10.17	10.66	12.14	10.39
Fixed Asset Turnover	0.00	3.20	3.25	3.21	3.15	3.08	2.99	2.92	2.88	2.83	2.84
Accounts Payable Turnover	2.93	3.09	3.28	2.80	2.83	2.97	3.12	2.73	2.87	2.98	3.19
Days Sales Outstanding (DSO)	27.57	22.94	25.03	30.35	27.70	22.89	26.27	32.44	27.90	24.26	26.27
Days Inventory Outstanding (DIO)	33.25	30.59	33.97	33.05	33.10	30.35	35.49	35.88	34.24	30.06	35.12
Days Payable Outstanding (DPO)	124.64	118.12	111.26	130.29	128.99	122.85	116.99	133.64	127.30	122.62	114.40
Cash Conversion Cycle (CCC)	-63.82	-64.59	-52.26	-66.89	-68.18	-69.62	-55.23	-65.32	-65.15	-68.31	-53.01
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	18,866	18,790	19,118	18,824	18,787	18,630	19,277	19,502	16,011	15,946	16,255
Invested Capital Turnover	0.71	0.74	0.74	0.75	0.73	0.73	0.70	0.69	0.76	0.75	0.74
Increase / (Decrease) in Invested Capital	-593	-87	-64	-87	-80	-161	159	678	-2,776	-2,684	-3,022
Enterprise Value (EV)	18,174	17,676	19,573	15,802	16,667	16,779	17,918	15,314	14,190	14,485	13,870
Market Capitalization	12,554	12,082	13,575	10,157	11,225	11,242	11,731	9,253	8,505	8,769	7,671
Book Value per Share	$65.08	$64.83	$61.68	$65.95	$68.38	$66.75	$67.92	$69.86	$54.94	$54.46	$56.44
Tangible Book Value per Share	($23.52)	($23.31)	($21.97)	($22.70)	($22.45)	($23.89)	($24.37)	($23.63)	($19.33)	($19.72)	($21.16)
Total Capital	19,668	19,659	19,576	20,471	19,808	19,599	19,690	20,116	16,961	16,842	16,637
Total Debt	6,180	6,224	6,218	7,056	6,241	6,146	6,238	6,319	6,292	6,300	6,272
Total Long-Term Debt	5,301	5,312	5,312	6,162	6,203	6,114	6,155	6,257	3,885	3,865	3,849
Net Debt	5,378	5,355	5,759	5,408	5,219	5,177	5,825	5,706	5,342	5,403	5,889
Capital Expenditures (CapEx)	157	174	213	169	166	102	235	161	131	173	231
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,073	-1,201	-739	-952	-1,003	-1,134	-632	-716	-657	-838	-339
Debt-free Net Working Capital (DFNWC)	-271	-332	-281	696	19	-165	-219	-102	293	59	43
Net Working Capital (NWC)	-1,150	-1,244	-1,186	-199	-19	-197	-302	-165	-2,114	-2,375	-2,380
Net Nonoperating Expense (NNE)	38	22	39	30	83	35	24	22	535	46	49
Net Nonoperating Obligations (NNO)	5,378	5,355	5,759	5,408	5,219	5,177	5,825	5,706	5,342	5,403	5,889
Total Depreciation and Amortization (D&A)	344	1.50	224	115	347	79	242	232	243	243	250
Debt-free, Cash-free Net Working Capital to Revenue	-7.83%	-8.65%	-5.22%	-6.74%	-7.25%	-8.26%	-4.72%	-5.39%	-5.00%	-6.42%	-2.60%
Debt-free Net Working Capital to Revenue	-1.98%	-2.39%	-1.98%	4.92%	0.14%	-1.20%	-1.64%	-0.77%	2.23%	0.45%	0.33%
Net Working Capital to Revenue	-8.40%	-8.96%	-8.38%	-1.41%	-0.14%	-1.43%	-2.26%	-1.24%	-16.07%	-18.22%	-18.21%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.99	$0.49	$0.98	$2.03	$0.96	$1.41	$0.60	$2.14	($14.79)	$1.30	$0.80
Adjusted Weighted Average Basic Shares Outstanding	216.10M	216M	212.70M	210M	207.20M	208.80M	203M	200.50M	197.90M	199.10M	188.90M
Adjusted Diluted Earnings per Share	$1.98	$0.49	$0.97	$2.03	$0.96	$1.39	$0.59	$2.13	($14.79)	$1.32	$0.80
Adjusted Weighted Average Diluted Shares Outstanding	217.60M	217.30M	214.20M	210.80M	208M	209.90M	204M	201.20M	197.90M	199.10M	189.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	203.56M	200.57M	199.83M	195.15M	196.13M	192.72M	192.40M	187.95M	187.86M	178.16M	177.78M
Normalized Net Operating Profit after Tax (NOPAT)	470	127	249	455	312	329	147	446	150	255	199
Normalized NOPAT Margin	12.03%	3.81%	8.15%	11.87%	8.65%	10.15%	5.45%	11.93%	4.31%	8.15%	7.33%
Pre Tax Income Margin	13.93%	4.97%	8.70%	14.59%	9.20%	10.68%	5.81%	14.84%	-100.32%	8.52%	7.16%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	133.63%	37.09%	33.12%	31.13%	37.90%	31.89%	34.70%	34.91%	-17.92%	-17.26%	-17.22%
Augmented Payout Ratio	161.82%	58.61%	61.00%	78.42%	97.96%	87.47%	89.74%	88.64%	-43.63%	-46.98%	-52.36%

Financials Breakdown Chart

Key Financial Trends

Here are the key trends from Molson Coors Beverage (NYSE:TAP) using the last four years of quarterly statements. The focus is on what may matter to retail investors: revenue and margins, profitability, cash flow, balance-sheet stability, and capital allocation.

Gross margin has remained solid in the low- to mid-30% range across 2025 quarters (example: Q4 2025 gross profit of $968.3M on $3.1259B revenue ≈ 31%; Q2 2025 ≈ 34%). This suggests stable core profitability despite quarterly volume swings.
Operating cash flow improved through 2025, turning positive mid-year and staying positive into Q4. Notably, Net Cash From Continuing Operating Activities was $718.3M (Q2 2025), $605.5M (Q3 2025), and $536.9M (Q4 2025), with Q1 2025 being the only negative quarter.
Topline momentum in 2025 appears supported by quarterly revenue levels around the mid- to high-3 billions, with Q2 2025 revenue at $3.74B, higher than several prior quarters, indicating ongoing demand strength despite occasional volatility.
Cash dividends per share have remained meaningful (around $0.47 per share in recent quarters) and the company conducted share repurchases (e.g., about $315M in TAP’s Q4 2025 financing activity), contributing to shareholder returns.
Impairment-related charges in 2025 (notably a large impairment expense in Q3 2025 of about $3.65B) create a one-off earnings distortion that does not reflect ongoing operating performance.
Debt structure remains sizable but manageable, with a mix of short- and long-term debt and a large single-year balance sheet footprint. For example, by Q3 2025, total current liabilities around $5.3B and long-term debt near $3.88B, with total liabilities about $12.20B on the period. The company carries meaningful leverage, but cash flow generation has been positive in non-impaired quarters.
Quarterly results show seasonality and volatility, with some quarters delivering robust gross and operating margins while others are pressured by one-time items or mix changes. This is typical for a consumer packaged goods company but warrants attention to quarterly timing when evaluating earnings quality.
Net income collapsed in the impairment-heavy Q3 2025, showing Consolidated Net Income / (Loss) of about -$2.94B, which dwarfs other quarters and drags annual metrics if not viewed in the proper context.
Q4 2025 net income attributable to common shareholders declined versus the prior year (about $238.3M in Q4 2025 vs. $287.8M in Q4 2024), indicating earnings pressure in the more recent quarter outside the impairment event.
Financing cash flow has been negative in several quarters due to buybacks and debt-related activity, which reduces near-term cash flexibility even as dividends and repurchases support shareholder return. For example, net cash from financing activities was about -$410M in multiple 2025 quarters and -$393.6M in Q3 2025, limiting cash on hand for other uses.

05/14/26 06:05 AM ETAI Generated. May Contain Errors.

Molson Coors Beverage Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Molson Coors Beverage's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Molson Coors Beverage's net income appears to be on a downward trend, with a most recent value of -$2.18 billion in 2025, falling from $398.50 million in 2015. The previous period was $1.16 billion in 2024. View Molson Coors Beverage's forecast to see where analysts expect Molson Coors Beverage to go next.

Molson Coors Beverage's total operating income in 2025 was -$2.34 billion, based on the following breakdown:

Total Gross Profit: $4.27 billion
Total Operating Expenses: $6.61 billion

Over the last 10 years, Molson Coors Beverage's total revenue changed from $3.57 billion in 2015 to $13.04 billion in 2025, a change of 265.5%.

Molson Coors Beverage's total liabilities were at $12.20 billion at the end of 2025, a 3.3% decrease from 2024, and a 133.9% increase since 2015.

In the past 10 years, Molson Coors Beverage's cash and equivalents has ranged from $418.60 million in 2017 to $1.06 billion in 2018, and is currently $896.50 million as of their latest financial filing in 2025.

Over the last 10 years, Molson Coors Beverage's book value per share changed from 38.17 in 2015 to 54.46 in 2025, a change of 42.7%.

Related Companies

Financial statements for NYSE:TAP last updated on 5/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Molson Coors Beverage (TAP) Financials

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Molson Coors Beverage (TAP) Financials

Annual Income Statements for Molson Coors Beverage

Quarterly Income Statements for Molson Coors Beverage

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Quarterly Cash Flow Statements for Molson Coors Beverage

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Quarterly Balance Sheets for Molson Coors Beverage

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Quarterly Metrics And Ratios for Molson Coors Beverage

Financials Breakdown Chart

Key Financial Trends

Molson Coors Beverage Financials - Frequently Asked Questions

When does Molson Coors Beverage's financial year end?

How has Molson Coors Beverage's net income changed over the last 10 years?

What is Molson Coors Beverage's operating income?

How has Molson Coors Beverage's revenue changed over the last 10 years?

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How much cash does Molson Coors Beverage have?

How has Molson Coors Beverage's book value per share changed over the last 10 years?

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