Filing Flows › Molson Coors Beverage (TAP) › Q4 2025
Molson Coors Beverage (TAP) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 18, 2026
Molson Coors Beverage (TAP) reported revenue of $3.1B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -10% from the quarter before. Operating margin was 10.4%, net earnings $238M (7.6% of revenue).
Molson Coors Beverage, Q4 2025: revenue $3.1B (-4% year over year), operating margin 10.4%, net earnings $238M, operating cash flow $541M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.1B | -10% | -4% |
| Gross profit | $968M | -17% | -7% |
| Operating profit | $324M | — | -16% |
| Net earnings | $238M | — | -17% |
| Operating cash flow | $541M | -12% | +9% |
| Free cash flow | $358M | -26% | -7% |
What changed
Revenue was $3.1B in Q4 2025, down 4% year over year and down 10% from the previous quarter.
Gross margin was 31.0%, down 1.0 points from a year earlier. Operating profit was $0.32B, a 10.4% margin (down 1.6 points year over year). Operating expenses fell 1% while revenue fell 4%. Net earnings were $0.24B, down 17% year over year ($0.21B including minority interests, which bore $0.03B of losses). The effective tax rate was 21.4%.
Operating cash flow was $0.54B (up 9% year over year), 258% of net income including minority interests. Non-cash charges added back $0.18B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.14B. Capital expenditures of $0.18B left free cash flow of $0.36B.
Questions
What was Molson Coors Beverage's revenue in the fourth quarter 2025?
Molson Coors Beverage (TAP) reported revenue of $3.1B for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -10% from the quarter before.
Was Molson Coors Beverage profitable in the fourth quarter 2025?
Operating profit was $324M (10.4% of revenue) and net earnings $238M.