# Molson Coors Beverage Company (TAP-A)

> Source: Nexqual · https://nexqual.com/TAP-A · data as of 2026-10-22 19:41 UTC · cite as "Nexqual, Molson Coors Beverage Company (TAP-A), nexqual.com/TAP-A" · informational, not investment advice.

**Price:** USD 42.54 (-8.93% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 46.71 · day 42.54–42.54 · 52w 39.51–55.92 · market cap $7.93B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $14.0B, net income -$2.03B (-14.5% margin) (SEC filings).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $53K; 1 not under a Rule 10b5-1 plan ($53K); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: None.
- Total return with dividends: 1Y -12.9% vs S&P 500 +14.9%; 5Y -18.1% vs S&P 500 +80.3%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $12.4B | $12.8B | $13.9B | $13.7B | $13.0B | $14.0B |
| Gross profit | $4.05B | $3.66B | $4.37B | $4.53B | $4.27B | — |
| Operating income | $1.45B | $158M | $1.44B | $1.75B | -$2.34B | -$2.19B |
| Net income | $1.01B | -$175M | $949M | $1.12B | -$2.14B | -$2.03B |
| EPS (diluted) | — | -$0.81 | $4.37 | $5.35 | -$10.75 | — |
| Free cash flow | $1.05B | $841M | $1.41B | $1.24B | $1.07B | — |
| Gross margin | 32.6% | 28.5% | 31.5% | 33.0% | 32.8% | — |
| Operating margin | 11.7% | 1.2% | 10.4% | 12.8% | -17.9% | -15.7% |
| Net margin | 8.1% | -1.4% | 6.8% | 8.2% | -16.4% | -14.5% |
| Revenue growth | +6.2% | +2.9% | +8.4% | -1.1% | -5.1% | — |
| Cash + short-term investments | $637M | $600M | $869M | $969M | $897M | — |
| Total debt | $7.16B | $6.54B | $6.20B | $6.13B | $6.26B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.6x · EV/Sales 1.0x · P/B 0.8x · Earnings yield -25.58% · Net debt $5.55B · EV $13.5B
P/E at fiscal year-ends: Dec 2024 10.7x, Dec 2023 14.8x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-21 | Molson Geoffrey E. | Director | 1,245 | $53K | 10.1% | No | Too little history (no open-market trades in 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus None.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -12.9% | -18.1% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -12.9% | -3.9% |
| Volatility (annualized) | 48.1% | 34.6% |
| Max drawdown | -27.9% (Feb 2026→Jul 2026) | -47.5% (Dec 2022→Jul 2026) |

## Peers (Beverages - Brewers)
STZ (Constellation Brands, Inc.) USD 138.98 +5.27% · SAM (Boston Beer Company, Inc. (The)) USD 195.72 +7.65% · FMX (Fomento Economico Mexicano S.A.) USD 129.03 +0.82% · ABEV (Ambev S.A.) USD 3.33 +1.83% · BUD (Anheuser-Busch Inbev SA Sponsor) USD 85.49 +3.89%

## More
Full page: https://nexqual.com/TAP-A · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in TAP-A's own 10-K filed 2026-02-18 (https://www.sec.gov/Archives/edgar/data/24545/000002454526000006/tap-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Retail | "Additionally, in certain Canadian provinces, we rely on our joint venture arrangements in BRI and BDL to distribute our products via retail outlets that are regulated by provincial government regulators." |
| Supplier | Distributor | "Additionally, in certain Canadian provinces, we rely on our joint venture arrangements in BRI and BDL to distribute our products via retail outlets that are regulated by provincial government regulators." |
| Partner | BALL Corp (BALL) | "In the Americas segment, a portion of our aluminum cans and ends are purchased from Rocky Mountain Metal Container ("RMMC"), our joint venture with Ball Corporation, whose production facilities, which are leased from us,…" |
| Partner | Owens-Brockway Glass Container | "In the Americas segment, a portion of our glass bottles are purchased from Rocky Mountain Bottle Company ("RMBC"), our joint venture with Owens-Brockway Glass Container, Inc., whose production facilities, which are lease…" |
| Partner | Red Tree Beverages | "We have authorizations from Red Tree Beverages, LLC that grant us the right to produce, market, advertise, promote, sell and distribute products bearing the Simply Spiked trademark in the U.S. and Canada, as well as the …" |
| Partner | ZOA Energy | "We also have partner brands, such as Simply Spiked, ZOA Energy, Fever-Tree, among others, through license, distribution, partnership and joint venture agreements." |
| Partner | Cobra Beer Partnership | "During March 2024, our partner in Cobra Beer Partnership, Ltd. ("CBPL") exercised a put option under our partnership agreement which required us to acquire the remaining 49.9% ownership interest." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $2.40B | 77.6% | -4.1% |
| EMEA&APAC | $700.8M | 22.6% | -0.4% |
| Total revenue | $3.10B | 100% | — |

## Company outlook (8-K filed 2026-08-06)

- "Important factors that could cause actual results to differ materially from the Company's historical experience, and present projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission ("SEC"), including the risks discussed in our filings with the SEC, including our most recent Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | — | — | — | $2.94B | — |
| Next quarter (ends 2026-12-31) | — | — | — | $2.66B | — |
| Current fiscal year (ends 2026-12-31) | — | — | — | $11.05B | — |
| Next fiscal year (ends 2027-12-31) | — | — | — | $11.06B | — |