CELH vs DKS: How Celsius Holdings and Dick's Sporting Goods Compare (2026)

Same yardstick, side by side (as of July 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. CELH and DKS share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined CELH and DKS exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Celsius Holdings is a Boca Raton, Florida consumer packaged goods company that makes functional energy drinks marketed around fitness, metabolism, and zero-sugar formulations. Its flagship CELSIUS brand is sold through grocery, club, convenience, and fitness channels, and the company makes money by selling cases of ready-to-drink beverages, increasingly through PepsiCo's distribution network. In Q1 2026 the broader portfolio reached roughly a 20.9% dollar share of the U.S. ready-to-drink energy category, placing it behind Monster and Red Bull but well ahead of most other challengers.

Full CELH guide

Dick's Sporting Goods is the leading omnichannel sporting-goods retailer in the United States, offering athletic footwear, apparel, and equipment across roughly 850-plus stores plus a growing e-commerce business. Beyond its traditional big-box format, Dick's has invested in experiential concepts, most notably House of Sport (large, activity-rich stores with features like climbing walls and turf fields) and Public Lands (outdoor recreation), which it sees as the future of physical retail. Its brand relationships with Nike, Adidas, and others, plus strong private brands, give it merchandising strength, and it has generally outperformed many retail peers on comparable-sales growth and margins.

Full DKS guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• CELH drivers: Multi-brand portfolio and category leadership; PepsiCo distribution and the category-captain role.
• DKS drivers: Core comparable-sales momentum; Experiential store formats.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: Organic growth of the flagship CELSIUS brand decelerated to roughly 6% year over year in Q1 2026, so most of the headline 138% revenue increase reflects acquired brands rather than core momentum. For DKS, the dominant near-term risk is Foot Locker integration: absorbing a large, mall-concentrated, historically lower-margin chain carries execution, margin-dilution, and turnaround risk, and management's guidance already reflects near-term EPS pressure.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick CELH if you believe its drivers more; DKS if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the CELH and DKS guides.

CELH. Reported figures are drawn from Celsius Holdings' Q1 2026 results and recent market data as of the asOf date. The roughly 138% revenue jump is heavily influenced by the Alani Nu and Rockstar acquisitions rather than organic CELSIUS growth, which rose about 6%. The shares traded near $30 with a market cap around $7.2 billion after a decline from prior highs, leaving a forward P/E in the high teens, modestly above the U.S. beverage industry average.

DKS. These figures are approximate and tied to the asOf date; verify live numbers before acting. Dick's is valued as a leading but cyclical retailer, so its multiple reflects both strong core execution and the uncertainty of integrating Foot Locker. The key questions are whether core comps hold up, whether the Foot Locker turnaround delivers, and how discretionary spending trends, more than any single valuation ratio.

Headline figures (approximate, 2026-06-27): CELH shows revenue (q1 2026) ~$782.6 million, revenue growth (yoy, q1 2026) ~138%, fy2025 revenue ~$2.5 billion (up ~86%), gross margin (q1 2026) ~48.3% (down ~400 bps); DKS shows revenue trend Q1 2026 net sales around $5.17 billion, up roughly 63% year over year including Foot Locker, comparable sales Core comps around 6% in Q1 2026; Foot Locker returned to comp growth and profitability, full-year guidance Fiscal 2026 net sales guided to roughly $22.1-$22.4 billion, with EPS around the mid-$13s to $14, foot locker deal Completed September 2025 for about $2.5 billion, mostly in stock; adds scale and a lower-margin mix.

CELH and DKS are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined CELH and DKS exposure against your real portfolio. It is not an investment adviser.