Celsius Holdings Inc (CELH) is slightly overvalued and Keurig Dr Pepper Inc (KDP) is slightly undervalued.
Against our estimates of intrinsic value, KDP trades at the wider discount: a margin of safety of +14%, against -6% for CELH.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 8.8% (average of 3 methods) values the shares at $27.65; the price of $29.39 is 6% above that value, and 78% of that value comes from beyond year five.
Leak Score 0/100 on 3 of 12 signals
Discounting its cash flows at 7.1% (average of 3 methods) values the shares at $36.83; the price of $31.51 is 14% below that value, and 83% of that value comes from beyond year five.
Leak Score 33/100 on 10 of 12 signals
| Metric | CELH | KDP |
|---|---|---|
| Verdict | Slightly overvalued | Slightly undervalued |
| Price | $29.39 | $31.51 |
| Intrinsic value | $27.65 | $36.83 |
| Margin of safety | -6% | +14% |
| Leak Score | 0/100 (3/12) | 33/100 (10/12) |
| Market cap | $7.4B | $42.9B |
| Revenue growth, 5 years | 80.7% | 7.4% |
| Operating margin | 19.2% | 16.9% |
| Net margin | 2.0% | 6.7% |
| Return on equity | 7.5% | 5.7% |
| Debt to equity | 2.03 | 1.50 |
| P/E | 127.1x | 31.9x |
| Forward P/E | 16.9x | 12.4x |
| P/B | 6.2x | 1.7x |
| Dividend yield | — | 3.0% |