ZVIA vs. CELH

Last updated Apr 2, 2026

Compare and contrast key facts about Zevia PBC (ZVIA) and Celsius Holdings, Inc. (CELH).

Performance

ZVIA vs. CELH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Zevia PBC (ZVIA) and Celsius Holdings, Inc. (CELH). The values are adjusted to include any dividend payments, if applicable.

ZVIA vs. CELH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
ZVIA Zevia PBC	-49.57%	-44.63%	108.46%	-50.86%	-41.99%	-48.35%
CELH Celsius Holdings, Inc.	-24.95%	73.65%	-51.69%	57.21%	39.52%	13.24%

Fundamentals

EPS ZVIA : -$0.15 CELH : $0.66
PS Ratio ZVIA : 0.48 CELH : 2.16
Total Revenue (TTM) ZVIA : $161.26M CELH : $2.52B
Gross Profit (TTM) ZVIA : $77.42M CELH : $1.27B
EBITDA (TTM) ZVIA : -$8.53M CELH : $171.79M

Returns By Period

In the year-to-date period, ZVIA achieves a -49.57% return, which is significantly lower than CELH's -24.95% return.

ZVIA

• 1D: 0.00%
• 1M: -15.83%
• YTD: -49.57%
• 6M: -53.01%
• 1Y: -46.82%
• 3Y*: -32.77%
• 5Y*: —
• 10Y*: —

CELH

• 1D: -3.24%
• 1M: -30.29%
• YTD: -24.95%
• 6M: -40.30%
• 1Y: -3.92%
• 3Y*: 3.48%
• 5Y*: 15.75%
• 10Y*: 47.38%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

ZVIA vs. CELH — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ZVIA

ZVIA Risk / Return Rank: 16
ZVIA Sharpe Ratio Rank: 15
ZVIA Sortino Ratio Rank: 15
ZVIA Omega Ratio Rank: 16
ZVIA Calmar Ratio Rank: 18
ZVIA Martin Ratio Rank: 14

CELH

CELH Risk / Return Rank: 37
CELH Sharpe Ratio Rank: 37
CELH Sortino Ratio Rank: 35
CELH Omega Ratio Rank: 36
CELH Calmar Ratio Rank: 38
CELH Martin Ratio Rank: 37

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ZVIA vs. CELH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Zevia PBC (ZVIA) and Celsius Holdings, Inc. (CELH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ZVIA	CELH	Difference
Sharpe ratio Return per unit of total volatility	-0.58	-0.07	-0.51
Sortino ratio Return per unit of downside risk	-0.74	0.29	-1.03
Omega ratio Gain probability vs. loss probability	0.91	1.04	-0.13
Calmar ratio Return relative to maximum drawdown	-0.66	-0.08	-0.59
Martin ratio Return relative to average drawdown	-1.32	-0.18	-1.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZVIA vs. CELH - Sharpe Ratio Comparison

The current ZVIA Sharpe Ratio is -0.58, which is lower than the CELH Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of ZVIA and CELH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ZVIA	CELH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.58	-0.07	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.24	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.70	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.46	0.70	-1.16

Correlation

The correlation between ZVIA and CELH is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ZVIA vs. CELH - Dividend Comparison

Neither ZVIA nor CELH has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ZVIA vs. CELH - Drawdown Comparison

The maximum ZVIA drawdown since its inception was -96.36%, which is greater than CELH's maximum drawdown of -77.86%. Use the drawdown chart below to compare losses from any high point for ZVIA and CELH.

Drawdown Indicators

	ZVIA	CELH	Difference
Max Drawdown Largest peak-to-trough decline	-96.36%	-77.86%	-18.50%
Max Drawdown (1Y) Largest decline over 1 year	-68.96%	-47.87%	-21.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-77.86%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.86%	—
Current Drawdown Current decline from peak	-93.08%	-64.28%	-28.80%
Average Drawdown Average peak-to-trough decline	-77.73%	-27.16%	-50.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.80%	20.02%	+14.78%

Volatility

ZVIA vs. CELH - Volatility Comparison

The current volatility for Zevia PBC (ZVIA) is 14.12%, while Celsius Holdings, Inc. (CELH) has a volatility of 15.34%. This indicates that ZVIA experiences smaller price fluctuations and is considered to be less risky than CELH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZVIA	CELH	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.12%	15.34%	-1.22%
Volatility (6M) Calculated over the trailing 6-month period	42.78%	45.25%	-2.47%
Volatility (1Y) Calculated over the trailing 1-year period	80.64%	54.91%	+25.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	88.92%	66.64%	+22.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	88.92%	68.75%	+20.17%

Financials

ZVIA vs. CELH - Profitability Comparison

The chart below illustrates the profitability comparison between Zevia PBC and Celsius Holdings, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

ZVIA - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Zevia PBC reported a gross profit of 18.08M and revenue of 37.87M. Therefore, the gross margin over that period was 47.7%.

CELH - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Apr 2026, Celsius Holdings, Inc. reported a gross profit of 341.83M and revenue of 721.63M. Therefore, the gross margin over that period was 47.4%.

ZVIA - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Zevia PBC reported an operating income of -1.51M and revenue of 37.87M, resulting in an operating margin of -4.0%.

CELH - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Apr 2026, Celsius Holdings, Inc. reported an operating income of 26.07M and revenue of 721.63M, resulting in an operating margin of 3.6%.

ZVIA - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Zevia PBC reported a net income of -1.31M and revenue of 37.87M, resulting in a net margin of -3.5%.

CELH - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Apr 2026, Celsius Holdings, Inc. reported a net income of 20.47M and revenue of 721.63M, resulting in a net margin of 2.8%.