Molson Coors Beverage Company (TAP) Income Statement
TAP 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTAP revenue and net income
Where TAP's revenue goes
2025Each bar shows an amount and its share of revenue. TAP kept −19.2% of revenue as net income.
TAP profit margins
TAP growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −4.2% | +1.4% | +2.9% | +12.1% |
| Gross profit | −7.7% | +4.6% | +2.1% | +11.3% |
| Operating income | −233.5% | — | — | — |
| Net income | −290.6% | — | — | — |
| EPS (diluted) | −9.0% | +9.8% | +6.7% | +3.7% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TAP quarterly EPS vs estimates
Molson Coors Beverage beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 5, 2026 (estimate $1.49).
TAP income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.14B | $11.63B | $11.70B | $10.70B | $10.28B | $9.65B | $10.58B | $10.77B | $11.00B | $4.88B |
| Cost of revenue | $6.95B | $7.09B | $7.33B | $7.05B | $6.23B | $5.89B | $6.38B | $6.58B | $6.24B | $3.00B |
| Gross profit | $4.19B | $4.53B | $4.37B | $3.66B | $4.05B | $3.77B | $4.20B | $4.18B | $4.77B | $1.89B |
| Research & development | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Sales, general & admin | $2.44B | $2.52B | $2.78B | $2.62B | $2.55B | $3.34B | $2.73B | $2.80B | $3.05B | $1.60B |
| Total operating expenses | $6.53B | $2.78B | $2.93B | $3.50B | $2.60B | $4.18B | $3.44B | $2.55B | $3.09B | −$1.44B |
| Operating income | −$2.34B | $1.75B | $1.44B | $157.5M | $1.45B | −$408.9M | $764.4M | $1.63B | $1.68B | $3.32B |
| Interest income | $227.3M | $35.4M | $25.4M | $4.3M | $265.7M | $3.3M | $8.2M | $8.0M | $6.0M | $27.2M |
| Interest expense | $225.6M | $279.3M | $228.8M | $236.3M | $261.6M | $285.9M | $301.4M | $313.9M | $345.6M | $294.8M |
| Income before taxes | −$2.52B | $1.50B | $1.25B | −$62.5M | $1.24B | −$643.9M | $479.9M | $1.36B | $1.38B | $3.04B |
| Income taxes | −$337.8M | $345.3M | $296.1M | $124.0M | $230.5M | $301.8M | $233.7M | $225.2M | −$53.2M | $1.05B |
| Net income | −$2.14B | $1.12B | $948.9M | −$175.3M | $1.01B | −$945.7M | $241.7M | $1.12B | $1.41B | $1.98B |
| EBITDA | −$1.61B | $2.55B | $2.17B | $872.9M | $2.29B | $552.7M | $1.62B | $2.52B | $2.55B | $3.71B |
| EPS (diluted) | $5.43 | $5.97 | $5.43 | $4.10 | $4.15 | $3.93 | $4.54 | $5.04 | $4.38 | $3.14 |
| Gross margin | 37.6% | 39.0% | 37.3% | 34.2% | 39.4% | 39.0% | 39.7% | 38.9% | 43.3% | 38.6% |
| Operating margin | −21.0% | 15.1% | 12.3% | 1.5% | 14.1% | −4.2% | 7.2% | 15.2% | 15.2% | 68.0% |
| Net margin | −19.2% | 9.7% | 8.1% | −1.6% | 9.8% | −9.8% | 2.3% | 10.4% | 12.9% | 40.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.10B | $2.35B | $2.66B | $2.97B | $3.20B | $2.30B | $2.74B | $3.04B | $3.25B | $2.60B | $2.79B | $3.30B |
| Cost of revenue | $2.03B | $1.45B | $1.78B | $1.80B | $1.92B | $1.45B | $1.70B | $1.84B | $1.92B | $1.63B | $1.76B | $1.95B |
| Gross profit | $1.06B | $897.2M | $880.1M | $1.17B | $1.28B | $850.9M | $1.04B | $1.20B | $1.33B | $963.5M | $1.03B | $1.35B |
| Sales, general & admin | $718.5M | $610.0M | $559.8M | $686.7M | $693.1M | $653.2M | $663.6M | $722.2M | $728.5M | $662.0M | $683.2M | $749.3M |
| Total operating expenses | $731.4M | $638.9M | $559.8M | $4.60B | $698.3M | $664.6M | $649.4M | $751.3M | $730.3M | $649.2M | $833.7M | $754.0M |
| Operating income | $331.9M | $258.3M | $320.3M | −$3.43B | $583.6M | $186.3M | $388.1M | $451.2M | $599.6M | $314.3M | $199.3M | $592.2M |
| Interest income | — | — | $56.2M | $56.0M | $58.5M | $56.6M | $54.6M | $93.1M | — | — | — | $48.8M |
| Interest expense | — | $57.6M | $56.2M | $56.0M | $57.7M | $55.7M | $53.7M | $92.3M | $50.3M | $47.6M | $45.2M | $48.0M |
| Income before taxes | $283.1M | $194.7M | $266.3M | −$3.50B | $554.9M | $156.3M | $346.3M | $331.4M | $559.9M | $265.4M | $165.5M | $544.0M |
| Income taxes | $61.5M | $44.6M | $57.0M | −$558.6M | $130.6M | $33.2M | $52.6M | −$482.8M | $134.6M | $55.5M | $60.0M | $112.4M |
| Net income | $231.7M | $151.3M | $238.3M | −$2.93B | $428.7M | $121.0M | $287.8M | $199.8M | $427.0M | $207.8M | $103.3M | $430.7M |
| EBITDA | $475.1M | $438.0M | $507.4M | −$3.26B | $758.9M | $378.0M | $604.9M | $693.2M | $769.1M | $477.9M | $421.6M | $768.1M |
| EPS (diluted) | $1.58 | $0.62 | $1.21 | $1.67 | $2.05 | $0.50 | $1.30 | $1.80 | $1.92 | $0.95 | $1.19 | $1.92 |
| Gross margin | 34.3% | 38.2% | 33.1% | 39.5% | 40.0% | 36.9% | 37.9% | 39.5% | 40.9% | 37.1% | 37.0% | 40.8% |
| Operating margin | 10.7% | 11.0% | 12.0% | −115.4% | 18.2% | 8.1% | 14.2% | 14.8% | 18.4% | 12.1% | 7.1% | 18.0% |
| Net margin | 7.5% | 6.4% | 9.0% | −98.5% | 13.4% | 5.3% | 10.5% | 6.6% | 13.1% | 8.0% | 3.7% | 13.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TAP's financial statements (latest annual report filed February 18, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TAP financial results
In fiscal year 2025 (ended December 31, 2025), Molson Coors Beverage reported revenue of $11.1 billion, down 4.2% from the year before. It had a net loss of $2.1 billion, a net profit margin of −19.2%. Diluted earnings per share came to $5.43. Over five years revenue grew at an average rate of 2.9% a year.
See the TAP stock overview for the latest quote and news, or the TAP chart for price history and technical indicators.
TAP income statement FAQ
What is Molson Coors Beverage's annual revenue?
Molson Coors Beverage reported total revenue of $11.1 billion for fiscal year 2025, which ended on December 31, 2025. That was down 4.2% from $11.6 billion the previous year.
Is Molson Coors Beverage profitable?
No. Molson Coors Beverage reported a net loss of $2.1 billion in fiscal 2025, a net profit margin of −19.2%; its operating margin was −21.0%.
What is Molson Coors Beverage's gross margin?
Molson Coors Beverage's gross margin was 37.6% in fiscal 2025: for every $100 of revenue, Molson Coors Beverage kept $38 after the direct cost of its products and services.
How fast is Molson Coors Beverage growing?
Revenue grew 2.9% a year on average over the last five fiscal years, from $9.7 billion to $11.1 billion.
What are Molson Coors Beverage's earnings per share?
Molson Coors Beverage earned $5.43 per diluted share in fiscal 2025, compared with $5.97 a year earlier.
When will Molson Coors Beverage report its next earnings?
Molson Coors Beverage is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Molson Coors Beverage's fiscal year end?
Molson Coors Beverage's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 18, 2026.