MOLSON COORS BEVERAGE CO financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MOLSON COORS BEVERAGE CO files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	6,597	13,472	13,338	13,009	11,724	12,450	12,808	13,885	13,734	13,040
Cost of revenue	2,999	6,237	6,585	6,378	5,886	6,226	7,046	7,333	7,094	6,866
Gross profit	1,886	4,766	4,185	4,201	3,768	4,053	3,655	4,369	4,533	4,275
Selling, general and administrative	1,597	3,052	2,803	2,728	2,437	2,555	2,619	2,780	2,718	2,644
Selling and marketing							1,270	1,373	1,357	1,331
Operating income	3,323	1,678	1,632	764	-409	1,454	158	1,438	1,753	-2,337
Interest expense	272	349	306	281	275	260	251	234	283	248
Interest income	27.2	6	8	8.2	3.3	2	4.3	25.4	35.4	20.6
Other non-operating income	-269	-295	-272	-285	-235	-215	-220	-186	-250	-181
Pre-tax income	3,054	1,383	1,360	480	-644	1,239	-62.5	1,253	1,503	-2,518
Income tax	1,454	-205	225	234	302	231	124	296	345	-338
Income from continuing operations	1,996	1,413
Net income to minority interests	5.9	22.2	18.1	4.5	3.3	2.8	-11.2	7.5	35.3	-40.6
Net income	1,594	1,566	1,117	242	-949	1,006	-175	949	1,122	-2,140
EBITDA	3,711	2,491	2,489	1,623	513	2,241	842	2,121	2,513	-1,626
EPS, basic	9.40	6.57					-0.81	4.39	5.38	-10.75
EPS, diluted	9.34	6.53					-0.81	4.37	5.35	-10.75
Shares, basic (weighted)	212	215	216	217	217	217	217	216	209	199
Shares, diluted (weighted)	213	217	217	217	217	218	217	217	210	199
Dividend per share	1.64	1.64	1.64	1.96	0.57	0.68	1.52	1.64	1.76	1.88

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	561	419	1,058	523	770	637	600	869	969	897
Receivables	654	728	736	706	550	679	740	758	693	703
Inventory	593	592	592	616	664	805	793	802	728	716
Other current assets	211	278	246	225	297	457	379	298	308	433
Total current assets	2,170	2,190	2,766	2,184	2,419	2,779	2,638	2,849	2,848	2,936
Property, plant and equipment	4,507	4,674	4,608	4,547	4,250	4,192	4,223	4,445	4,460	4,769
Lease right-of-use assets				155	136	119	133	201	189	194
Goodwill	8,250	8,406	8,261	7,631	6,151	6,153	5,292	5,325	5,582	1,945
Intangible assets	14,032	14,297	13,776	13,656	13,556	13,287	12,800	12,615	12,195	11,991
Other non-current assets	383	682	698	842	955	1,209	916	1,142	978	1,098
Total assets	29,342	30,247	30,110	28,860	27,331	27,619	25,868	26,375	26,064	22,738
Accounts payable	1,298	1,569	1,617	1,687	1,733	2,098	2,068	1,981	1,875	1,823
Accrued liabilities	2,468	2,685	2,706	2,767	279	244	249	317	241	176
Short-term debt	685	715	1,595	928	1,020	515	397	912	32.2	2,434
Total current liabilities	3,158	3,399	4,301	3,696	3,910	3,622	3,375	4,093	3,045	5,311
Long-term debt	11,388	10,599	8,894	8,110	7,208	6,647	6,165	5,312	6,114	3,865
Lease liabilities				120	106	87.8	99.3	164	162	160
Other non-current liabilities	267	317	324	407	447	327	293	372	302	308
Total liabilities	17,720	17,060	16,374	15,187	14,710	13,955	12,953	12,940	12,612	12,196
Total debt	12,059	10,927	10,477	9,031	8,214	7,155	6,541	6,202	6,126	6,260
Paid-in capital	6,635	6,689	6,773	6,774	6,938	6,971	7,006	7,108	7,224	7,247
Retained earnings	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	-523	-736	-1,381	-2,039
Other comprehensive income	-1,572	-860	-1,150	-1,162	-1,168	-1,006	-1,206	-1,116	-1,362	-1,072
Shareholders' equity	11,419	12,978	13,507	13,419	12,365	13,417	12,690	13,196	13,092	10,230
Minority interests	203	209	228	254	256	247	226	211	192	197
Total equity	11,223	13,187	13,736	13,673	12,621	13,664	12,915	13,407	13,284	10,427
Total liabilities and equity	29,342	30,247	30,110	28,860	27,331	27,619	25,868	26,375	26,064	22,738

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,600	1,588	1,135	246	-946	1,009	-187	956	1,158	-2,180
Depreciation and amortization	388	813	858	859	922	786	685	683	759	711
Stock-based compensation	29.9	58.3	42.6	8.5	24.2	32.1	33.6	44.9	43.1	35
Deferred income tax	1,327	-68.7	214	109	106	181	-27.2	36	118	-443
Change in receivables	65.6	-7.2	-38.4	38.5	161	-138	-109	-0.7	39.6	48.3
Change in inventory	-23.2	21.3	-10.6	-17.7	-46.2	-144	-64.6	21.7	55.1	65.2
Cash from operations	1,127	1,866	2,331	1,897	1,696	1,574	1,502	2,079	1,910	1,784
Capital expenditures	-342	-600	-652	-594	-575	-523	-661	-672	-674	-717
Acquisitions	-11,961	0	0			0	0	-63.7	-8.6	-22.3
Cash from investing	-12,287	-538	-669	-433	-414	-510	-625	-842	-648	-822
Debt issued	9,461	1,536	0	3	1.5	0	7	7	864	0
Debt repaid	-224	-3,000	-320	-1,586	-919	-1,007	-509	-405	-884	-12.8
Stock issued	2,526	0	0
Share buybacks					0	0	-51.5	-206	-643	-648
Dividends paid	-353	-353	-354	-424	-125	-148	-329	-355	-369	-376
Cash from financing	11,318	-1,496	-1,009	-2,007	-1,070	-1,172	-890	-981	-1,138	-1,057
Exchange rate effect	-28.2	26	-14	8.5	35	-24.1	-24.8	13	-23.5	21.7
Net change in cash			653	-543	247	-133	-37.4	269	100	-72.8
Free cash flow	785	1,267	1,680	1,304	1,121	1,051	841	1,408	1,236	1,068
Interest paid	163	350	309	285	272	256	240	229	216	241
Income taxes paid	165	-86	-32.3	57	127	227	76.6	245	227	131

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $35.95 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	32.8%	Gross profit / revenue.
Operating margin	-17.9%	Operating income / revenue.
EBITDA margin	-12.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-19.3%	Pre-tax income / revenue.
Net margin	-16.4%	Net income / revenue.
FCF margin	8.2%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.7%	Cash from operations / revenue.
Return on equity (ROE)	-18.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-8.8%	Net income / average total assets.
Return on invested capital (ROIC)	-10.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	20.3%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	0.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	5.5%	Capital expenditures / revenue.
D&A / revenue	5.5%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-5.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.6%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	2.2%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-5.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	5.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	2.6%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-233.3%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-164.7%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-290.6%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-300.9%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-6.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	1.0%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-13.6%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	8.3%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-1.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	6.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	7.3%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	27.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-21.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-6.9%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-3.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-12.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-4.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	-3.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-5.1%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.8%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.55x	Current assets / current liabilities.
Quick ratio	0.30x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.17x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.61x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	27.5%	Total debt / total assets.
Liabilities / assets	53.6%	Total liabilities / total assets.
Net debt	$5.36B	Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage	-9.43x	Operating income / interest expense.
Working capital	-$2.38B	Current assets - current liabilities.
Goodwill and intangibles / assets	61.3%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$3.71B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.53x	Revenue / average total assets.
Fixed asset turnover	2.83x	Revenue / average property, plant and equipment.
Inventory turnover	9.51x	Cost of revenue / average inventory.
Days inventory	38 days	365 x average inventory / cost of revenue.
Receivables turnover	18.7x	Revenue / average receivables.
Days sales outstanding	20 days	365 x average receivables / revenue.
Days payables	98 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-40 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	40.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$10.75	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	-$10.75	Net income per basic share, as reported (split-adjusted).
Revenue per share	$65.50	Revenue / diluted weighted shares.
FCF per share	$5.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.96	Cash from operations / diluted weighted shares.
Book value per share	$51.38	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$18.61	Tangible book value / shares outstanding.
Cash per share	$4.50	(Cash + short-term investments) / shares outstanding.
Dividend per share	$1.88	Dividend declared per common share (paid, when declared is not tagged).
Dividends / FCF	35.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	60.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$6.70B	Share price x shares outstanding.
Enterprise value	$12.07B	Market cap + total debt - cash - short-term investments.
P/S	0.51x	Market cap / revenue.
P/B	0.66x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	6.28x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	3.76x	Market cap / cash from operations, when positive.
EV/Sales	0.93x	Enterprise value / revenue.
EV/FCF	11.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	15.9%	Free cash flow / market cap.
Earnings yield	-31.9%	Net income / market cap (the inverse of P/E).
Dividend yield	5.6%	Dividends paid over the period / market cap.
Shareholder yield	15.3%	(Dividends paid + share buybacks) / market cap.

What was MOLSON COORS BEVERAGE CO's revenue in fiscal 2025?

MOLSON COORS BEVERAGE CO reported revenue of $13.04B for fiscal 2025, 5.1% lower than the year before.

Was MOLSON COORS BEVERAGE CO profitable in fiscal 2025?

No. It reported a net loss of $2.14B.

How much free cash flow did MOLSON COORS BEVERAGE CO generate in fiscal 2025?

Cash from operations of $1.78B minus capital expenditures of $716.6M left free cash flow of $1.07B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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