Did You Miss the Celsius Stock Comeback Story?

2026-02-27 12:27:00 ET

Investors left Celsius Holdings (NASDAQ: CELH) for dead in 2024. That was a mistake. Shares of Celsius have nearly doubled -- up 99% -- over the past year. Its latest step up came on Thursday, when the company behind sparkling functional beverages posted better-than-expected financial results.

The catalyst for the turnaround isn't difficult to figure out. Just 53 weeks ago, Celsius announced a deal for Alani Nu . Valued at $1.65 billion, it was the right deal at the right time. Celsius was midway through its third consecutive quarter of year-over-year sales declines. Alani Nu offered a smaller but ascending lifestyle brand, catering to a distinctive target audience.

The price seemed too good to be true. Celsius was buying Alani Nu for 3 times trailing sales and 12 times its earnings before interest, taxes, depreciation, and amortization ( EBITDA ), adjusting for cost savings expected from the corporate combination. At the time, it was fetching an enterprise value that was 4.4 times sales and 37 times EBITDA. And that was with Celsius already trading well below its previous year's peak.

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