Forensic Analysis · Consumer Staples / Food & Beverage · as of Aug 11, 2026
Celsius Holdings, Inc. (CELH)
A forensic read on Celsius Holdings, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Safe
Financial health
4.4
Distress distance
Watch
Earnings quality
5
Forensic signals
35.0
P / E (ttm)
9.1%
ROE
$6.6B
Market cap
0.74%
Dividend yield
85.5%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Celsius Holdings, Inc. earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 4.4, placing it in the Safe zone. 5 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+162.4%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +162.4% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by receivables up +179% against revenue +86% and inventory up +157% against +85% in cost of sales. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 14% of net operating assets, diverging from the balance-sheet accrual read.
3.3%
FY2025
Return on invested capital.Return on invested capital is 3.3% in the latest fiscal year and rising from -28% — well below its ~8% cost of capital, so reinvested dollars may be destroying value, not building it.
+3.9%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +12% over the last 3 years to FY2025 (+3.9%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~3.9% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~11%.
1.1% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 1.1% of revenue and 9% of free cash flow in FY2025 — about $0.11 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 4.0% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
Key fundamentals
Latest Revenue$2.52B
Revenue Growth YoY+85.5%
Revenue CAGR (3yr)+56.7%
Net Margin4.3%
Free Cash Flow$323.4M
Return on Equity9.1%
Debt / Equity0.57x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Celsius Holdings, Inc.'s actual 10-K/10-Q/8-K filings?
Data from SEC EDGAR public filings · metrics as of Aug 11, 2026. Forensic signals flag probability, not certainty.
Celsius Holdings, Inc. (CELH) Stock — Forensic Analysis, Red Flags & Rating | Stockonomy · Stockonomy
$396,000
FY2020–FY2020
Goodwill impairments.Took $396,000 of goodwill writedowns across 1 year (FY2020 ($396,000)) — about 5% of net income over the span. Writedowns mean past acquisitions underperformed what was paid for them.