Molson Coors Beverage Company: A Bullish Investment Opportunity

Molson Coors Beverage Company (TAP) is a dominant force in the US beer market with strong brands like Coors Light and Miller Lite. Despite slower growth and industry headwinds, TAP's core portfolio still accounts for 15.2% of US beer volume, with gross margins steady in the high 30s and returns on net tangible equity around 30%. The company has aggressively returned capital to shareholders and trades at a low valuation of 6.4x free cash flow, making it a compelling long-term investment.