Latest Ratios: P/E Ratio -3.6x · EV/EBITDA N/A · ROE -17.8%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $7.3B | $9.1B | $12.0B | $13.3B | $11.2B | $10.1B | $9.8B | $11.7B | $12.2B | $17.8B | $20.8B |
| Enterprise Value | $12.7B | $14.5B | $17.3B | $18.7B | $17.2B | $16.7B | $17.3B | $20.3B | $21.6B | $28.7B | $32.3B |
| P/E Ratio → | -3.60 | — | 10.71 | 14.01 | — | 10.03 | — | 48.56 | 10.90 | 12.57 | 10.51 |
| P/S Ratio | 0.66 | 0.82 | 1.03 | 1.14 | 1.04 | 0.98 | 1.01 | 1.11 | 1.13 | 1.61 | 4.25 |
| P/B Ratio | 0.72 | 0.87 | 0.89 | 0.99 | 0.87 | 0.74 | 0.78 | 0.86 | 0.89 | 1.32 | 1.79 |
| P/FCF | 6.86 | 8.56 | 9.73 | 9.45 | 13.29 | 9.60 | 8.74 | 8.97 | 7.24 | 14.03 | 26.45 |
| P/OCF | 4.11 | 5.12 | 6.30 | 6.40 | 7.44 | 6.41 | 5.78 | 6.16 | 5.22 | 9.52 | 18.43 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.30 | 1.48 | 1.60 | 1.61 | 1.62 | 1.79 | 1.91 | 2.01 | 2.61 | 6.61 |
| EV / EBITDA | — | — | 6.87 | 8.82 | 20.40 | 7.43 | 33.72 | 12.47 | 8.67 | 11.51 | 8.70 |
| EV / EBIT | — | — | 9.66 | 12.58 | 91.34 | 11.11 | — | 26.62 | 12.96 | 16.54 | 9.71 |
| EV / FCF | — | 13.62 | 13.96 | 13.29 | 20.44 | 15.85 | 15.44 | 15.54 | 12.86 | 22.63 | 41.11 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.6% | 37.6% | 39.0% | 37.3% | 34.2% | 39.4% | 39.0% | 39.7% | 38.9% | 43.3% | 38.6% |
| Operating Margin | -21.0% | -21.0% | 15.1% | 12.3% | 1.5% | 14.1% | -4.2% | 7.2% | 15.2% | 15.2% | 68.0% |
| Net Profit Margin | -19.2% | -19.2% | 9.7% | 8.1% | -1.6% | 9.8% | -9.8% | 2.3% | 10.4% | 12.9% | 40.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -17.8% | -17.8% | 8.3% | 7.2% | -1.3% | 7.7% | -7.2% | 1.8% | 8.2% | 11.3% | 21.1% |
| ROA | -8.8% | -8.8% | 4.3% | 3.6% | -0.7% | 3.7% | -3.4% | 0.8% | 3.7% | 4.7% | 9.5% |
| ROIC | -10.1% | -10.1% | 7.0% | 5.7% | 0.6% | 5.4% | -1.4% | 2.5% | 5.2% | 5.3% | 15.2% |
| ROCE | -11.6% | -11.6% | 7.7% | 6.4% | 0.7% | 6.1% | -1.7% | 3.0% | 6.2% | 6.3% | 17.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.60 | 0.60 | 0.46 | 0.47 | 0.51 | 0.53 | 0.66 | 0.66 | 0.76 | 0.84 | 1.04 |
| Debt / EBITDA | — | — | 2.46 | 2.96 | 7.84 | 3.22 | 16.13 | 5.60 | 4.21 | 4.54 | 3.25 |
| Net Debt / Equity | — | 0.51 | 0.39 | 0.40 | 0.47 | 0.48 | 0.59 | 0.63 | 0.69 | 0.81 | 0.99 |
| Net Debt / EBITDA | — | — | 2.08 | 2.55 | 7.13 | 2.93 | 14.63 | 5.27 | 3.79 | 4.37 | 3.10 |
| Debt / FCF | — | 5.06 | 4.23 | 3.84 | 7.15 | 6.25 | 6.70 | 6.57 | 5.61 | 8.60 | 14.66 |
| Interest Coverage | -10.34 | -10.34 | 6.39 | 6.50 | 0.80 | 5.73 | -1.29 | 2.52 | 5.31 | 5.01 | 11.28 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.55 | 0.55 | 0.94 | 0.70 | 0.78 | 0.77 | 0.62 | 0.59 | 0.64 | 0.64 | 0.69 |
| Quick Ratio | 0.42 | 0.42 | 0.70 | 0.50 | 0.55 | 0.54 | 0.45 | 0.42 | 0.51 | 0.47 | 0.50 |
| Cash Ratio | 0.17 | 0.17 | 0.32 | 0.21 | 0.18 | 0.18 | 0.20 | 0.14 | 0.25 | 0.12 | 0.18 |
| Asset Turnover | — | 0.49 | 0.45 | 0.44 | 0.41 | 0.37 | 0.35 | 0.37 | 0.36 | 0.36 | 0.17 |
| Inventory Turnover | 9.71 | 9.71 | 9.75 | 9.14 | 8.89 | 7.74 | 8.86 | 10.36 | 11.13 | 10.54 | 5.06 |
| Days Sales Outstanding | — | 23.03 | 26.46 | 27.43 | 29.55 | 31.22 | 25.98 | 28.30 | 29.52 | 29.92 | 60.17 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.9% | 4.1% | 3.1% | 2.7% | 2.9% | 1.5% | 1.3% | 3.6% | 2.9% | 2.0% | 1.7% |
| Payout Ratio | — | — | 32.9% | 37.4% | — | 14.7% | — | 175.6% | 31.7% | 25.0% | 17.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 9.3% | 7.1% | — | 10.0% | — | 2.1% | 9.2% | 8.0% | 9.5% |
| FCF Yield | 14.6% | 11.7% | 10.3% | 10.6% | 7.5% | 10.4% | 11.4% | 11.1% | 13.8% | 7.1% | 3.8% |
| Buyback Yield | 8.8% | 7.1% | 5.3% | 1.5% | 0.5% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 13.8% | 11.2% | 8.4% | 4.2% | 3.4% | 1.5% | 1.3% | 3.6% | 2.9% | 2.0% | 1.7% |
| Shares Outstanding | — | $196M | $210M | $217M | $217M | $218M | $217M | $217M | $217M | $217M | $213M |
Liquidity and asset impairment
According to current market data, TAP trades at a forward P/E of 8.77 and a P/S of 0.70, suggesting that investors are pricing the company as a declining utility rather than a growth-oriented consumer staples player, despite recent market share gains in the premium light beer category.
The valuation discount relative to peers like Constellation Brands suggests the market remains unconvinced that TAP can successfully pivot its portfolio toward higher-margin categories. Investors should monitor whether the low P/FCF multiple of 7.29 represents a genuine value opportunity or a reflection of the market's expectation for continued long-term volume erosion.
Based on reported financial statements, ROIC has struggled to maintain positive momentum, falling to 1.2% in 2026Q1 from a peak of 2.4% in 2024Q2, a trend largely driven by the erosion of the invested capital base following significant non-cash impairment charges taken against legacy brand assets.
The inability to consistently generate returns above the cost of capital suggests that the company's historical acquisitions and infrastructure investments are not yet yielding the expected synergies. This decay in ROIC warrants further investigation into whether management's 'Beverage Company' strategy can effectively improve capital allocation efficiency in the coming fiscal years.
As reported in recent quarterly filings, the company's cash conversion cycle remains highly erratic, with negative values often exceeding 70 days, reflecting the complex interplay between seasonal inventory builds and the timing of payments to suppliers within the highly regulated three-tier distribution system.
While negative CCC is generally a sign of operational strength in consumer goods, the extreme volatility observed in TAP's DSO and DIO suggests that the company may be relying on aggressive inventory loading at the wholesale level to manage short-term revenue targets. This practice may obscure underlying demand trends and complicates the assessment of true working capital efficiency.
Based on the most recent quarterly data, the current ratio has deteriorated to 0.54, a significant decline from the 0.99 level observed in 2024Q3, indicating that the company's ability to cover short-term obligations has become increasingly constrained relative to its historical performance and industry standards.
The sharp decline in the quick ratio to 0.38 suggests a heightened reliance on inventory turnover to meet immediate cash needs, which could prove problematic if consumer demand for core brands softens unexpectedly. Investors should monitor this liquidity trend closely, as it limits the firm's operational flexibility and ability to navigate potential supply chain disruptions.
The P/E ratio is frequently misapplied to TAP, as reported earnings are heavily distorted by non-cash impairment charges and one-time accounting adjustments that do not reflect the company's underlying cash-generating capacity or its ability to fund ongoing operations and dividend payments.
Analysts should prioritize EV/EBITDA or P/FCF metrics to better understand the company's true earning power, as these measures strip out the non-cash noise that currently renders the P/E ratio misleading. Relying on headline P/E figures risks misinterpreting a temporary accounting-driven earnings collapse as a permanent failure of the core business model.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying TAP stock.
Molson Coors Beverage Company's current P/E ratio is -3.6x. The historical average is 19.8x.
Molson Coors Beverage Company's return on equity (ROE) is -17.8%. The historical average is 7.5%.
Based on historical data, Molson Coors Beverage Company is trading at a P/E of -3.6x. Compare with industry peers and growth rates for a complete picture.
Molson Coors Beverage Company's current dividend yield is 4.93%.
Molson Coors Beverage Company has 37.6% gross margin and -21.0% operating margin.