Molson Coors Beverage Co Shs -B- Non-Voting TAP

Morningstar Rating
$41.58 +0.65 (1.59%)
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Company Report

Molson Coors Is Repositioning Its Portfolio Toward Premium and Nonalcoholic Offerings

Molson Coors owns well-known beer brands such as Miller, Coors, and Blue Moon in North America, and Carling in the UK. However, sizable exposure to the shrinking midrange and economy beer segments has led to sluggish volumes in past years. According to Euromonitor, the North American domestic mid-range beer market shrank by 35% in volume and 13% in value from 2015 to 2025. In the mid-range North American beer market, Molson and wide-moat AB InBev run a duopoly, controlling around 97% market share, according to Euromonitor.

Price vs Fair Value

TAP is trading at a 498% premium.
Price
$41.58
Fair Value
$63.00
Uncertainty
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1-Star Price
$82.91
5-Star Price
$62.90
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Strategic initiatives to expand exposure to the premium and beyond beer categories should lead to margin expansion through positive mix shift.

Bears

High volume concentration in the secularly challenged midrange and economy beer segments does not bode well for top-line and profit growth.

News

Trading Information

Previous Close Price
$40.93
Day Range
$40.4941.72
52-Week Range
$38.0454.82
Bid/Ask
$40.99 / $41.68
Shares Outstanding
187.55M
Market Cap
$7.80B
Volume/Avg
4M / 3M

Key Statistics

Price/Earnings (Normalized)
7.37
Price/Sales
0.72
Dividend Yield (Trailing)
4.69%
Dividend Yield (Forward)
4.74%
Total Yield
14.26%

Company Profile

Molson Coors owns well-known beer brands including Miller, Coors, Blue Moon, and Carling, and ranks as the second-largest beer maker in both value and volume in the US, Canada, and the United Kingdom. Through licensing agreements, it also brews and distributes beer and nonbeer beverage categories under partner brands from Heineken, Anheuser-Busch InBev, Asahi, Fever-Tree, and Coca-Cola. North America remains its largest market, accounting for nearly 80% of total revenue.
Sector
Consumer Defensive
Industry
Beverages - Brewers
Stock Style Box
Small Value
Total Number of Employees
16,200

Competitors

Valuation

Metric
TAP
ABI
STZ
Price/Earnings (Normalized)
7.3721.0612.57
Price/Book Value
0.761.873.18
Price/Sales
0.722.722.85
Price/Cash Flow
4.1010.599.14
Price/Earnings
TAP
ABI
STZ

Financial Strength

Metric
TAP
ABI
STZ
Quick Ratio
0.260.530.39
Current Ratio
0.540.721.08
Interest Coverage
−9.864.107.55
Quick Ratio
TAP
ABI
STZ

Profitability

Metric
TAP
ABI
STZ
Return on Assets (Normalized)
4.55%9.53%
Return on Equity (Normalized)
9.61%27.71%
Return on Invested Capital (Normalized)
7.18%12.30%
Return on Assets
TAP
ABI
STZ

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