New Equity Research Report: Celsius Holdings (CELH)

We are pleased to release our Q3 2025 Equity Research Report on Celsius Holdings, a leader in the functional energy beverage market.

Our Consumer & Retail team has produced a comprehensive analysis, incorporating DCF and Public Comparables, that reveals:

- Valuation: An intrinsic equity value of $57.63/share (as of 30/09/2025), which is broadly in line with the market price.

- Performance: A successful recovery from the 2024 growth deceleration, with Q2 2025 revenue up 84% YoY.

- Premium Multiple: CELH's current 25.3x EV/EBITDA trades at a significant premium (92%) to the sector median (~12x), reflecting its superior growth profile.

and much more...

Given that the current stock price fairly reflects the company’s strong fundamentals and growth trajectory, we maintain a HOLD recommendation.

Consumer & Retail Team: Rina Kurihara, Louis Fletcher, Anne Chen, Maria Miruna Comarita, Hassan Butt

All information contained herein is derived from publicly available sources believed to be reliable, but accuracy and completeness are not guaranteed. This report does not constitute investment advice or a solicitation to buy or sell securities.

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