Financials Molson Coors Beverage Company Nyse

Equities

TAP.A

US60871R1005

Brewers

Delayed Nyse Other stock markets 01:45:00 10/05/2024 am IST			5-day change	1st Jan Change
57.29 ^USD	0.00%		0.00%	-11.56%

01/05	Molson Coors Brief: Keeps Neutral Rating But 12 Month Price Target Cut To US$65 From $70 at Wedbush Which Notes a "Good Start Overshadowed by Cautious Outlook"	MT
01/05	Roth MKM Cuts Molson Coors Beverage's Price Target to $75 From $77	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	11,691	9,837	10,086	11,220	13,212	12,456	-	-
Enterprise Value (EV) ¹	20,205	17,337	16,611	17,182	18,567	17,456	17,187	16,894
P/E ratio	48.6 x	-10.3 x	10 x	-63.6 x	14 x	10.3 x	10.4 x	10.2 x
Yield	3.64%	1.26%	1.47%	2.95%	2.68%	2.99%	3.17%	3.34%
Capitalization / Revenue	1.11 x	1.02 x	0.98 x	1.05 x	1.13 x	1.05 x	1.05 x	1.04 x
EV / Revenue	1.91 x	1.8 x	1.62 x	1.61 x	1.59 x	1.48 x	1.44 x	1.41 x
EV / EBITDA	8.55 x	8.13 x	7.99 x	8.44 x	7.66 x	7.03 x	6.83 x	6.7 x
EV / FCF	15.5 x	15.5 x	15.8 x	20.4 x	13.2 x	13.2 x	13.2 x	12.7 x
FCF Yield	6.45%	6.47%	6.33%	4.89%	7.58%	7.59%	7.6%	7.9%
Price to Book	0.87 x	0.79 x	0.75 x	0.88 x	0.99 x	0.91 x	0.86 x	0.8 x
Nbr of stocks (in thousands)	2,16,361	2,16,681	2,16,970	2,16,509	2,15,698	2,11,872	-	-
Reference price ²	53.90	45.19	46.35	51.52	61.21	58.81	58.81	58.81
Announcement Date	12/02/20	11/02/21	23/02/22	21/02/23	13/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	10,579	9,654	10,280	10,701	11,702	11,818	11,899	11,988
EBITDA ¹	2,364	2,132	2,078	2,036	2,423	2,484	2,515	2,521
EBIT ¹	1,502	1,284	1,266	1,325	1,717	1,772	1,782	1,785
Operating Margin	14.19%	13.3%	12.32%	12.38%	14.67%	15%	14.97%	14.89%
Earnings before Tax (EBT) ¹	479.9	-643.9	1,239	-62.5	1,252	1,542	1,592	1,586
Net income ¹	241.7	-949	1,006	-175.3	948.9	1,187	1,155	1,141
Net margin	2.28%	-9.83%	9.78%	-1.64%	8.11%	10.04%	9.71%	9.51%
EPS ²	1.110	-4.380	4.620	-0.8100	4.370	5.701	5.630	5.762
Free Cash Flow ¹	1,304	1,121	1,051	840.6	1,408	1,324	1,307	1,335
FCF margin	12.32%	11.61%	10.22%	7.86%	12.03%	11.2%	10.98%	11.14%
FCF Conversion (EBITDA)	55.14%	52.57%	50.58%	41.29%	58.1%	53.3%	51.95%	52.96%
FCF Conversion (Net income)	539.3%	-	104.49%	-	148.33%	111.57%	113.14%	117.05%
Dividend per Share ²	1.960	0.5700	0.6800	1.520	1.640	1.760	1.865	1.962
Announcement Date	12/02/20	11/02/21	23/02/22	21/02/23	13/02/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	2,619	2,215	2,922	2,935	2,630	2,346	3,267	3,298	2,791	2,596	3,234	3,241	2,755	2,537	3,284
EBITDA ¹	457.3	320.5	566.4	593.5	555.5	388.4	725.2	742.9	566.1	476.2	717.6	732.9	556.1	465.9	735.5
EBIT ¹	271	134.2	387.7	421.7	381.2	102.3	549.6	573.6	379.6	307.7	538.2	559.5	378.1	289.6	558.7
Operating Margin	10.35%	6.06%	13.27%	14.37%	14.5%	4.36%	16.82%	17.39%	13.6%	11.85%	16.64%	17.27%	13.72%	11.42%	17.01%
Earnings before Tax (EBT) ¹	109.5	173.7	54.9	273	-564.1	101.9	441.1	544	165.5	265.4	481.5	524.8	332.2	260.6	493.6
Net income ¹	80	151.5	47.3	216.4	-590.5	72.5	342.4	430.7	103.3	207.8	363.8	396.4	250.6	197.1	374.2
Net margin	3.05%	6.84%	1.62%	7.37%	-22.46%	3.09%	10.48%	13.06%	3.7%	8%	11.25%	12.23%	9.1%	7.77%	11.39%
EPS ²	0.3700	0.7000	0.2200	0.9900	-2.730	0.3300	1.570	1.980	0.4800	0.9700	1.703	1.825	1.217	0.8981	1.814
Dividend per Share ²	0.3400	0.3800	0.3800	0.3800	0.3800	-	0.4100	0.4100	0.4100	0.4400	0.4410	0.4409	0.4411	0.4532	0.4594
Announcement Date	23/02/22	03/05/22	02/08/22	01/11/22	21/02/23	02/05/23	01/08/23	02/11/23	13/02/24	30/04/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	8,514	7,500	6,525	5,962	5,355	5,000	4,730	4,438
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	3.602 x	3.518 x	3.14 x	2.929 x	2.21 x	2.013 x	1.881 x	1.76 x
Free Cash Flow ¹	1,304	1,121	1,051	841	1,408	1,324	1,307	1,335
ROE (net income / shareholders' equity)	7.32%	6.61%	7%	6.84%	9.11%	8.89%	8.6%	8.47%
ROA (Net income/ Total Assets)	3.34%	3.03%	3.28%	3.34%	4.52%	4.28%	4.18%	4%
Assets ¹	7,235	-31,310	30,631	-5,252	21,017	27,725	27,658	28,498
Book Value Per Share ²	62.10	57.00	61.80	58.70	61.90	64.70	68.70	73.30
Cash Flow per Share ²	8.750	7.820	7.230	6.920	9.570	9.740	10.10	10.80
Capex ¹	594	575	523	661	672	753	722	712
Capex / Sales	5.61%	5.95%	5.08%	6.18%	5.74%	6.37%	6.07%	5.94%
Announcement Date	12/02/20	11/02/21	23/02/22	21/02/23	13/02/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Molson Coors Beverage Company

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

HOLD

Number of Analysts

Last Close Price

58.81 USD

Average target price

65.17 USD

Spread / Average Target

+10.81%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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