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Monster Beverage (MNST) Financials

Monster Beverage logo
$46.70 -1.11 (-2.32%)
Closing price 08/27/2026 04:00 PM Eastern
Extended Trading
$46.92 +0.22 (+0.47%)
As of 06:36 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Monster Beverage

Annual Income Statements for Monster Beverage

This table shows Monster Beverage's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 547 713 821 993 1,108 1,410 1,377 1,192 1,631 1,509 1,905
Consolidated Net Income / (Loss)		 547 713 821 993 1,108 1,410 1,377 1,192 1,631 1,509 1,905
Net Income / (Loss) Continuing Operations		 547 713 821 993 1,108 1,410 1,377 1,192 1,631 1,509 1,905
Total Pre-Tax Income 		892 1,080 1,202 1,293 1,416 1,626 1,801 1,572 2,068 1,989 2,483
Total Operating Income		 732 1,085 1,199 1,284 1,403 1,633 1,797 1,585 1,953 1,930 2,419
Total Gross Profit		 1,632 1,942 2,138 2,295 2,519 2,724 3,109 3,175 3,794 4,049 4,632
Total Revenue		 2,723 3,049 3,369 3,807 4,201 4,599 5,541 6,311 7,140 7,493 8,294
Operating Revenue		 2,723 3,049 3,369 3,807 4,201 4,599 5,541 6,311 7,140 7,493 8,294
Total Cost of Revenue		 1,090 1,107 1,231 1,512 1,682 1,875 2,433 3,136 3,346 3,444 3,662
Operating Cost of Revenue		 1,090 1,107 1,231 1,512 1,682 1,875 2,433 3,136 3,346 3,444 3,662
Total Operating Expenses		 900 857 939 1,012 1,116 1,091 1,311 1,590 1,841 2,119 2,213
Selling, General & Admin Expense		 900 857 939 1,012 1,116 1,091 1,311 1,590 1,841 2,119 2,213
Total Other Income / (Expense), net		 159 -5.65 2.84 9.65 13 -7.00 3.95 -13 115 59 63
Other Income / (Expense), net		 159 -5.65 2.84 9.65 13 -7.00 3.95 -13 115 59 63
Income Tax Expense		 345 367 381 300 308 217 424 380 437 480 577
Basic Earnings per Share		 $0.97 $1.21 $1.45 $1.78 $2.04 $2.66 $1.30 $1.13 $1.56 $1.50 $1.95
Weighted Average Basic Shares Outstanding		 566.45M 587.87M 566.78M 557.17M 542.19M 529.64M 1.06B 1.05B 1.04B 1.00B 975.89M
Diluted Earnings per Share		 $0.95 $1.19 $1.42 $1.76 $2.03 $2.64 $1.29 $1.12 $1.54 $1.49 $1.94
Weighted Average Diluted Shares Outstanding		 577.76M 599.82M 577.14M 564.25M 546.61M 534.81M 1.07B 1.07B 1.06B 1.01B 984.45M
Weighted Average Basic & Diluted Shares Outstanding		 202.92M 566.62M 566.40M 543.15M 536.90M 528.14M 529.36M 522.41M 1.04B 973.16M 978.27M

Quarterly Income Statements for Monster Beverage

This table shows Monster Beverage's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 367 442 425 371 271 443 489 524 449 569 585
Consolidated Net Income / (Loss)		 367 442 425 371 271 443 489 524 449 569 585
Net Income / (Loss) Continuing Operations		 367 442 425 371 271 443 489 524 449 569 585
Total Pre-Tax Income 		450 578 552 474 386 578 647 690 568 750 768
Total Operating Income		 434 542 527 480 381 570 632 675 543 730 740
Total Gross Profit		 938 1,027 1,020 1,000 1,002 1,048 1,176 1,224 1,183 1,293 1,420
Total Revenue		 1,730 1,899 1,901 1,881 1,812 1,855 2,112 2,197 2,131 2,353 2,537
Operating Revenue		 1,730 1,899 1,901 1,881 1,812 1,855 2,112 2,197 2,131 2,353 2,537
Total Cost of Revenue		 792 872 881 881 810 807 935 973 948 1,060 1,118
Operating Cost of Revenue		 792 872 881 881 810 807 935 973 948 1,060 1,118
Total Operating Expenses		 504 485 492 520 621 478 545 549 641 563 679
Selling, General & Admin Expense		 504 485 492 520 621 478 545 549 641 563 679
Total Other Income / (Expense), net		 16 36 24 -5.82 4.86 8.27 15 14 26 20 28
Other Income / (Expense), net		 16 36 24 -5.82 4.86 8.27 15 14 26 20 28
Income Tax Expense		 83 136 126 103 115 135 158 165 119 181 184
Basic Earnings per Share		 $0.35 $0.42 $0.41 $0.38 $0.27 $0.45 $0.50 $0.54 $0.46 $0.58 $0.60
Weighted Average Basic Shares Outstanding		 1.04B 1.04B 1.03B 975.84M 1.00B 973.62M 975.75M 976.61M 975.89M 978.31M 978.66M
Diluted Earnings per Share		 $0.35 $0.42 $0.41 $0.38 $0.27 $0.45 $0.50 $0.53 $0.46 $0.58 $0.59
Weighted Average Diluted Shares Outstanding		 1.06B 1.05B 1.04B 983.17M 1.01B 981.28M 984.00M 984.97M 984.45M 988.26M 988.48M
Weighted Average Basic & Diluted Shares Outstanding		 1.04B 1.04B 979.54M 972.52M 973.16M 975.25M 976.43M 977.02M 978.27M 978.01M 979.53M

Annual Cash Flow Statements for Monster Beverage

This table details how cash moves in and out of Monster Beverage's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 1,805 -1,798 151 109 160 382 146 -19 991 -764 555
Net Cash From Operating Activities		 523 701 988 1,162 1,114 1,364 1,156 888 1,718 1,929 2,098
Net Cash From Continuing Operating Activities		 523 701 988 1,162 1,114 1,364 1,156 888 1,718 1,929 2,098
Net Income / (Loss) Continuing Operations		 547 713 821 993 1,108 1,410 1,377 1,192 1,631 1,509 1,905
Consolidated Net Income / (Loss)		 547 713 821 993 1,108 1,410 1,377 1,192 1,631 1,509 1,905
Depreciation Expense		 31 41 49 57 61 57 50 61 69 80 114
Non-Cash Adjustments To Reconcile Net Income		 -129 46 51 68 67 83 74 73 76 243 194
Changes in Operating Assets and Liabilities, net		 74 -98 67 44 -122 -185 -345 -439 -58 96 -116
Net Cash From Investing Activities		 400 -256 -532 273 -327 -472 -992 -161 -193 734 -1,317
Net Cash From Continuing Investing Activities		 400 -256 -532 273 -327 -472 -992 -161 -193 734 -1,317
Purchase of Property, Plant & Equipment		 -36 -100 -83 -62 -102 -49 -44 -189 -221 -264 -132
Acquisitions		 -6.89 -694 -9.69 -13 -8.74 0.00 0.00 -329 -363 0.00 0.00
Purchase of Investments		 -2,034 -452 -972 -826 -1,068 -1,300 -2,413 -1,847 -1,621 -342 -1,269
Sale of Property, Plant & Equipment		 0.93 0.81 1.42 4.30 1.24 0.99 1.33 1.31 2.52 2.73 4.30
Sale and/or Maturity of Investments		 2,098 989 533 1,181 851 920 1,489 2,252 2,030 1,378 106
Other Investing Activities, net		 179 0.01 -1.20 -12 -1.27 -45 -25 -50 -20 -41 -26
Net Cash From Financing Activities		 888 -2,238 -311 -1,316 -629 -526 35 -707 -543 -3,329 -324
Net Cash From Continuing Financing Activities		 888 -2,238 -311 -1,316 -629 -526 35 -707 -543 -3,329 -324
Repayment of Debt		 -1.08 -2.36 -2.58 -1.89 -14 -3.09 2.93 0.08 -14 -386 -385
Repurchase of Common Equity		 -808 -2,252 -361 -1,342 -707 -596 -14 -771 -659 -3,772 -104
Issuance of Debt		 - - - - - - - 0.00 0.00 750 0.00
Issuance of Common Equity		 1,697 16 53 28 92 73 46 64 130 79 165
Effect of Exchange Rate Changes		 -5.31 -4.61 5.99 -9.84 1.91 17 -52 -39 8.78 -98 98
Cash Interest Paid		 0.03 0.07 0.08 0.06 0.32 0.04 0.13 0.43 0.36 25 5.34

Quarterly Cash Flow Statements for Monster Beverage

This table details how cash moves in and out of Monster Beverage's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 524 279 -1,012 61 -92 370 24 366 -205 -48 153
Net Cash From Operating Activities		 434 412 436 618 462 508 466 745 379 605 509
Net Cash From Continuing Operating Activities		 434 412 436 618 462 508 466 745 379 605 509
Net Income / (Loss) Continuing Operations		 367 442 425 371 271 443 489 524 449 569 585
Consolidated Net Income / (Loss)		 367 442 425 371 271 443 489 524 449 569 585
Depreciation Expense		 19 20 19 20 21 25 28 30 32 28 30
Non-Cash Adjustments To Reconcile Net Income		 60 25 30 31 156 27 35 36 96 31 39
Changes in Operating Assets and Liabilities, net		 -11 -76 -39 197 14 12 -85 155 -198 -24 -144
Net Cash From Investing Activities		 167 -35 939 -60 -109 -31 -327 -362 -598 -521 -409
Net Cash From Continuing Investing Activities		 167 -35 939 -60 -109 -31 -327 -362 -598 -517 -406
Purchase of Property, Plant & Equipment		 -111 -66 -60 -47 -91 -29 -31 -44 -28 -21 -48
Purchase of Investments		 -215 -342 0.11 - - 0.00 -283 -335 -651 -696 -662
Sale of Property, Plant & Equipment		 0.77 0.42 0.63 1.04 0.64 1.15 1.19 0.41 1.56 0.82 2.09
Sale and/or Maturity of Investments		 484 382 996 - - 0.00 - 21 85 198 310
Other Investing Activities, net		 8.85 -9.60 1.87 -14 -19 -2.95 -14 -3.68 -5.46 1.01 -6.72
Net Cash From Financing Activities		 -109 -85 -2,356 -527 -361 -146 -163 -3.63 -12 -118 59
Net Cash From Continuing Financing Activities		 -109 -85 -2,356 -527 -361 -146 -163 -3.63 -12 -118 59
Repurchase of Common Equity		 -171 -120 -3,114 -536 -1.69 -17 - -27 -60 -134 -0.01
Issuance of Debt		 - - - - - - - - - -2.11 -1.47
Issuance of Common Equity		 65 38 14 10 17 48 40 27 50 18 61
Other Net Changes in Cash		 - - - - - - - - - -15 -7.28
Cash Interest Paid		 0.11 0.09 1.37 12 11 4.17 0.97 0.15 0.04 0.04 0.06
Cash Income Taxes Paid		 74 64 213 136 64 62 201 150 - 71 261

Annual Balance Sheets for Monster Beverage

This table presents Monster Beverage's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 5,571 4,153 4,791 4,527 5,150 6,203 7,805 8,293 9,687 7,719 9,989
Total Current Assets		 3,600 1,432 2,086 1,804 2,316 3,141 4,682 4,765 5,589 3,642 5,361
Cash & Equivalents		 2,175 378 529 638 798 1,180 1,326 1,307 2,298 1,533 2,088
Short-Term Investments		 745 221 673 321 533 881 1,750 1,362 956 0.00 677
Accounts Receivable		 353 448 449 485 540 666 897 1,016 1,194 1,222 1,618
Inventories, net		 156 162 256 278 361 333 593 936 971 737 800
Prepaid Expenses		 27 33 41 45 55 55 83 110 116 107 104
Current Deferred & Refundable Income Taxes		 18 67 139 39 29 25 33 34 54 42 75
Plant, Property, & Equipment, net		 97 173 230 243 299 315 314 517 891 1,047 1,082
Total Noncurrent Assets		 1,874 2,548 2,474 2,480 2,535 2,747 2,809 3,011 3,207 3,031 3,546
Long-Term Investments		 15 2.39 2.37 - 13 44 99 61 76 0.00 487
Goodwill		 1,280 1,332 1,332 1,332 1,332 1,332 1,332 1,418 1,418 1,332 1,332
Intangible Assets		 428 1,033 1,034 1,046 1,052 1,059 1,072 1,220 1,427 1,414 1,379
Noncurrent Deferred & Refundable Income Taxes		 140 160 92 86 85 242 225 177 175 184 189
Other Noncurrent Operating Assets		 11 22 14 16 54 70 80 134 110 100 159
Total Liabilities & Shareholders' Equity		 5,571 4,153 4,791 4,527 5,150 6,203 7,805 8,293 9,687 7,719 9,989
Total Liabilities		 762 824 896 916 979 1,042 1,238 1,268 1,458 1,761 1,735
Total Current Liabilities		 410 471 560 601 661 750 965 1,002 1,162 1,098 1,448
Accounts Payable		 145 193 246 249 274 297 404 444 564 467 566
Accrued Expenses		 208 198 226 258 281 329 422 429 453 488 690
Current Deferred Revenue		 32 42 43 44 44 45 43 43 42 46 45
Current Deferred & Payable Income Tax Liabilities		 2.75 7.66 11 10 15 23 30 13 15 4.01 32
Current Employee Benefit Liabilities		 22 30 35 40 47 55 65 72 87 92 114
Total Noncurrent Liabilities		 352 353 335 315 318 292 273 266 296 664 287
Noncurrent Deferred Revenue		 352 353 334 312 287 264 243 224 204 179 160
Other Noncurrent Operating Liabilities		 - 0.00 1.10 2.62 31 27 30 42 92 111 127
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 4,809 3,330 3,895 3,611 4,171 5,161 6,567 7,025 8,229 5,958 8,254
Total Preferred & Common Equity		 4,809 3,330 3,895 3,611 4,171 5,161 6,567 7,025 8,229 5,958 8,254
Total Common Equity		 4,809 3,330 3,895 3,611 4,171 5,161 6,567 7,025 8,229 5,958 8,254
Common Stock		 3,993 4,054 4,154 4,241 4,401 4,541 4,656 4,783 4,981 5,151 5,437
Retained Earnings		 1,395 2,108 2,928 3,915 5,022 6,432 7,810 9,001 5,940 7,449 9,354
Treasury Stock		 -556 -2,809 -3,170 -4,512 -5,220 -5,815 -5,829 -6,600 -2,566 -6,372 -6,476
Accumulated Other Comprehensive Income / (Loss)		 -22 -23 -17 -33 -32 3.03 -69 -159 -125 -269 -61

Quarterly Balance Sheets for Monster Beverage

This table presents Monster Beverage's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026 6/30/2026
Total Assets		 9,314 9,687 10,098 8,061 8,053 7,719 8,227 8,730 9,611 10,844 11,382
Total Current Assets		 5,312 5,589 6,036 3,954 3,898 3,642 4,135 4,429 5,066 5,912 6,405
Cash & Equivalents		 1,774 2,298 2,577 1,565 1,625 1,533 1,903 1,927 2,293 2,040 2,192
Short-Term Investments		 1,237 956 984 0.00 0.00 0.00 - 145 286 945 1,227
Accounts Receivable		 1,231 1,194 1,370 1,362 1,285 1,222 1,360 1,523 1,601 1,883 1,902
Inventories, net		 884 971 940 834 770 737 725 658 705 828 868
Prepaid Expenses		 163 116 125 129 125 107 113 137 143 166 149
Current Deferred & Refundable Income Taxes		 23 54 40 63 92 42 34 39 38 49 67
Plant, Property, & Equipment, net		 731 891 923 961 1,007 1,047 1,064 1,091 1,111 1,075 1,096
Total Noncurrent Assets		 3,272 3,207 3,139 3,146 3,149 3,031 3,028 3,210 3,434 3,857 3,881
Long-Term Investments		 53 76 8.16 0.00 0.00 0.00 - 138 359 770 781
Goodwill		 1,418 1,418 1,418 1,418 1,418 1,332 1,332 1,332 1,332 1,332 1,332
Intangible Assets		 1,459 1,427 1,431 1,433 1,442 1,414 1,416 1,419 1,419 1,380 1,382
Noncurrent Deferred & Refundable Income Taxes		 177 175 175 187 183 184 184 185 185 189 189
Other Noncurrent Operating Assets		 165 110 107 107 105 100 96 136 139 186 197
Total Liabilities & Shareholders' Equity		 9,314 9,687 10,098 8,061 8,053 7,719 8,227 8,730 9,611 10,844 11,382
Total Liabilities		 1,441 1,458 1,520 2,195 2,274 1,761 1,708 1,539 1,866 2,116 2,018
Total Current Liabilities		 1,179 1,162 1,229 1,161 1,245 1,098 1,225 1,259 1,590 1,815 1,717
Accounts Payable		 540 564 534 511 549 467 487 489 683 784 754
Accrued Expenses		 504 453 524 534 561 488 567 619 718 799 770
Current Deferred Revenue		 40 42 44 44 46 46 48 49 47 46 48
Current Deferred & Payable Income Tax Liabilities		 18 15 75 11 7.64 4.01 68 28 40 116 58
Current Employee Benefit Liabilities		 77 87 53 60 82 92 56 73 102 70 88
Total Noncurrent Liabilities		 262 296 291 1,034 1,029 664 482 280 276 301 301
Noncurrent Deferred Revenue		 209 204 199 192 186 179 174 170 165 155 151
Other Noncurrent Operating Liabilities		 53 92 93 64 65 111 109 110 111 146 149
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 7,873 8,229 8,578 5,866 5,779 5,958 6,519 7,191 7,745 8,727 9,364
Total Preferred & Common Equity		 7,873 8,229 8,578 5,866 5,779 5,958 6,519 7,191 7,745 8,727 9,364
Total Common Equity		 7,873 8,229 8,578 5,866 5,779 5,958 6,519 7,191 7,745 8,727 9,364
Common Stock		 4,899 4,981 5,041 5,074 5,112 5,151 5,219 5,291 5,350 5,482 5,579
Retained Earnings		 5,573 5,940 6,382 6,807 7,178 7,449 7,892 8,381 8,905 9,924 10,508
Treasury Stock		 -2,400 -2,566 -2,687 -5,832 -6,372 -6,372 -6,389 -6,389 -6,416 -6,610 -6,610
Accumulated Other Comprehensive Income / (Loss)		 -198 -125 -158 -182 -138 -269 -203 -91 -93 -69 -113

Annual Metrics And Ratios for Monster Beverage

This table displays calculated financial ratios and metrics derived from Monster Beverage's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - - - 977,021,216.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 977,021,216.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 1.95
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 10.45% 12.00% 10.48% 13.00% 10.34% 9.47% 20.50% 13.89% 13.14% 4.94% 10.70%
EBITDA Growth		 19.57% 21.48% 11.60% 7.98% 9.36% 13.98% 10.00% -11.79% 30.87% -3.16% 25.46%
EBIT Growth		 19.54% 21.10% 11.29% 7.63% 9.49% 14.84% 10.78% -12.74% 31.59% -3.82% 24.78%
NOPAT Growth		 -7.29% 59.56% 14.28% 20.38% 11.37% 28.97% -2.91% -12.60% 28.21% -4.94% 26.83%
Net Income Growth		 13.15% 30.35% 15.15% 21.00% 11.56% 27.24% -2.28% -13.49% 36.87% -7.48% 26.27%
EPS Growth		 13.15% 25.26% 19.33% 23.94% 15.34% 30.05% -2.28% -13.49% 37.50% -3.25% 30.20%
Operating Cash Flow Growth		 -12.51% 34.17% 40.83% 17.63% -4.14% 22.48% -15.28% -23.19% 93.51% 12.27% 8.80%
Free Cash Flow Firm Growth		 -303.87% 87.64% 717.49% 19.56% -9.87% 28.73% -12.65% -71.24% 213.35% 67.30% 5.68%
Invested Capital Growth		 519.16% 45.63% -1.39% -1.43% 6.58% 8.04% 11.02% 26.62% 14.09% -2.05% 4.23%
Revenue Q/Q Growth		 1.49% 3.68% 1.71% 3.08% 2.26% 4.05% 4.31% 1.41% 3.14% 1.11% 4.00%
EBITDA Q/Q Growth		 27.24% 1.77% 1.71% 3.35% 1.51% 4.76% 0.85% -1.71% 2.88% -2.90% 8.07%
EBIT Q/Q Growth		 27.98% 1.66% 1.54% 3.44% 1.69% 5.06% 0.81% -1.95% 2.81% -3.12% 7.92%
NOPAT Q/Q Growth		 3.20% 5.63% 3.08% 3.68% 1.47% 18.58% -10.23% -1.18% 3.42% -5.55% 9.55%
Net Income Q/Q Growth		 2.51% 5.04% 3.58% 3.96% 1.45% 18.17% -9.85% -1.62% 4.17% -6.00% 10.33%
EPS Q/Q Growth		 2.51% 0.00% 1.43% 1.73% 1.00% 16.81% -9.85% -1.62% 2.67% -9.70% 9.60%
Operating Cash Flow Q/Q Growth		 -3.59% 18.53% -7.75% 14.02% -4.12% 9.84% -13.94% 8.66% 8.59% 1.44% -3.77%
Free Cash Flow Firm Q/Q Growth		 -6.27% 49.86% -6.76% 14.32% -8.89% 13.41% -12.47% -25.77% 21.01% 7.38% -7.68%
Invested Capital Q/Q Growth		 2.14% -2.17% 0.98% -2.47% 1.39% 4.09% 3.39% 4.90% 1.85% -2.13% 4.06%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 59.95% 63.68% 63.45% 60.29% 59.95% 59.23% 56.10% 50.30% 53.14% 54.04% 55.85%
EBITDA Margin		 33.88% 36.75% 37.12% 35.47% 35.15% 36.60% 33.41% 25.88% 29.94% 27.63% 31.31%
Operating Margin		 26.89% 35.59% 35.58% 33.72% 33.40% 35.51% 32.44% 25.11% 27.36% 25.76% 29.17%
EBIT Margin		 32.75% 35.41% 35.67% 33.97% 33.71% 35.36% 32.51% 24.91% 28.97% 26.55% 29.93%
Profit (Net Income) Margin		 20.08% 23.37% 24.36% 26.08% 26.37% 30.65% 24.86% 18.88% 22.84% 20.14% 22.97%
Tax Burden Percent		 61.32% 66.01% 68.30% 76.78% 78.24% 86.68% 76.47% 75.80% 78.85% 75.85% 76.75%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 38.68% 33.99% 31.70% 23.22% 21.76% 13.32% 23.53% 24.20% 21.15% 24.15% 23.25%
Return on Invested Capital (ROIC)		 41.26% 31.13% 30.21% 36.89% 40.06% 48.13% 42.64% 31.26% 33.51% 30.20% 37.90%
ROIC Less NNEP Spread (ROIC-NNEP)		 36.54% 31.34% 29.99% 36.20% 39.17% 48.49% 42.53% 31.59% 30.51% 28.20% 35.70%
Return on Net Nonoperating Assets (RNNOA)		 -23.97% -13.61% -7.49% -10.43% -11.59% -17.92% -19.15% -13.73% -12.12% -8.92% -11.08%
Return on Equity (ROE)		 17.29% 17.51% 22.72% 26.46% 28.47% 30.21% 23.49% 17.53% 21.38% 21.27% 26.81%
Cash Return on Invested Capital (CROIC)		 -103.12% -6.03% 31.61% 38.33% 33.69% 40.40% 32.20% 7.77% 20.35% 32.27% 33.75%
Operating Return on Assets (OROA)		 23.74% 22.20% 26.87% 27.76% 29.26% 28.65% 25.72% 19.53% 23.01% 22.86% 28.04%
Return on Assets (ROA)		 14.56% 14.66% 18.35% 21.31% 22.90% 24.83% 19.67% 14.80% 18.14% 17.34% 21.52%
Return on Common Equity (ROCE)		 17.29% 17.51% 22.72% 26.46% 28.47% 30.21% 23.49% 17.53% 21.38% 21.27% 26.81%
Return on Equity Simple (ROE_SIMPLE)		 11.37% 21.40% 21.07% 27.50% 26.56% 27.31% 20.98% 16.96% 19.82% 25.33% 0.00%
Net Operating Profit after Tax (NOPAT)		 449 716 819 986 1,098 1,416 1,374 1,201 1,540 1,464 1,857
NOPAT Margin		 16.49% 23.49% 24.30% 25.89% 26.13% 30.78% 24.80% 19.03% 21.57% 19.54% 22.39%
Net Nonoperating Expense Percent (NNEP)		 4.71% -0.21% 0.21% 0.69% 0.89% -0.35% 0.11% -0.33% 3.00% 2.00% 2.20%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 17.10% 18.72% 23.12% 22.50%
Cost of Revenue to Revenue		 40.05% 36.32% 36.55% 39.71% 40.05% 40.77% 43.90% 49.70% 46.86% 45.96% 44.15%
SG&A Expenses to Revenue		 33.06% 28.09% 27.87% 26.57% 26.56% 23.72% 23.66% 25.19% 25.78% 28.28% 26.68%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 33.06% 28.09% 27.87% 26.57% 26.56% 23.72% 23.66% 25.19% 25.78% 28.28% 26.68%
Earnings before Interest and Taxes (EBIT)		 892 1,080 1,202 1,293 1,416 1,626 1,801 1,572 2,068 1,989 2,483
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 922 1,121 1,251 1,350 1,477 1,683 1,852 1,633 2,137 2,070 2,597
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.28 7.60 9.16 7.54 8.19 9.46 7.74 7.54 7.28 8.58 9.08
Price to Tangible Book Value (P/TBV)		 9.74 26.22 23.34 22.07 19.12 17.62 12.21 12.08 11.13 15.91 13.51
Price to Revenue (P/Rev)		 11.09 8.30 10.59 7.15 8.13 10.62 9.17 8.39 8.39 6.82 9.03
Price to Earnings (P/E)		 55.23 35.52 43.49 27.41 30.84 34.64 36.89 44.45 36.75 33.87 39.31
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.81% 2.82% 2.30% 3.65% 3.24% 2.89% 2.71% 2.25% 2.72% 2.95% 2.54%
Enterprise Value to Invested Capital (EV/IC)		 14.55 9.06 12.82 9.90 11.61 15.29 14.05 11.70 11.56 10.41 14.33
Enterprise Value to Revenue (EV/Rev)		 10.01 8.11 10.24 6.90 7.81 10.16 8.60 7.96 7.93 6.67 8.64
Enterprise Value to EBITDA (EV/EBITDA)		 29.56 22.06 27.58 19.45 22.23 27.75 25.73 30.76 26.49 24.13 27.59
Enterprise Value to EBIT (EV/EBIT)		 30.58 22.89 28.70 20.30 23.18 28.73 26.45 31.96 27.37 25.11 28.86
Enterprise Value to NOPAT (EV/NOPAT)		 60.72 34.50 42.12 26.64 29.91 33.00 34.66 41.82 36.75 34.12 38.59
Enterprise Value to Operating Cash Flow (EV/OCF)		 52.15 35.24 34.92 22.60 29.47 34.24 41.22 56.60 32.96 25.90 34.15
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 40.26 25.64 35.56 39.32 45.90 168.32 60.52 31.92 43.33
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.00
Financial Leverage		 -0.66 -0.43 -0.25 -0.29 -0.30 -0.37 -0.45 -0.43 -0.40 -0.32 -0.31
Leverage Ratio		 1.19 1.19 1.24 1.24 1.24 1.22 1.19 1.18 1.18 1.23 1.25
Compound Leverage Factor		 1.19 1.19 1.24 1.24 1.24 1.22 1.19 1.18 1.18 1.23 1.25
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.91% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.91% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 94.09% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.18 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.56 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.18 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.26 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.79 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.26 0.00
Altman Z-Score		 25.84 21.02 26.68 21.14 24.41 31.64 28.08 28.52 27.52 20.98 29.34
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 8.77 3.04 3.72 3.00 3.50 4.19 4.85 4.76 4.81 3.32 3.70
Quick Ratio		 7.98 2.22 2.95 2.40 2.83 3.64 4.12 3.68 3.83 2.51 3.03
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -1,122 -139 857 1,024 923 1,188 1,038 298 935 1,565 1,654
Operating Cash Flow to CapEx		 1,507.32% 708.35% 1,204.27% 2,015.54% 1,109.08% 2,858.14% 2,716.83% 473.66% 784.69% 737.93% 1,639.51%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.73 0.63 0.75 0.82 0.87 0.81 0.79 0.78 0.79 0.86 0.94
Accounts Receivable Turnover		 8.59 7.61 7.51 8.15 8.20 7.62 7.09 6.60 6.46 6.20 5.84
Inventory Turnover		 6.59 6.96 5.90 5.67 5.27 5.40 5.25 4.10 3.51 4.03 4.77
Fixed Asset Turnover		 29.04 22.53 16.69 16.09 15.51 15.00 17.64 15.20 10.14 7.73 7.79
Accounts Payable Turnover		 8.00 6.55 5.61 6.11 6.44 6.57 6.94 7.39 6.63 6.68 7.09
Days Sales Outstanding (DSO)		 42.48 47.94 48.62 44.77 44.53 47.87 51.47 55.32 56.49 58.84 62.48
Days Inventory Outstanding (DIO)		 55.36 52.42 61.91 64.40 69.26 67.54 69.50 88.97 104.02 90.54 76.58
Days Payable Outstanding (DPO)		 45.60 55.71 65.09 59.71 56.72 55.57 52.59 49.37 55.02 54.64 51.47
Cash Conversion Cycle (CCC)		 52.24 44.65 45.44 49.46 57.07 59.85 68.37 94.91 105.50 94.73 87.60
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 1,874 2,729 2,691 2,653 2,827 3,055 3,391 4,294 4,899 4,798 5,002
Invested Capital Turnover		 2.50 1.32 1.24 1.42 1.53 1.56 1.72 1.64 1.55 1.55 1.69
Increase / (Decrease) in Invested Capital		 1,571 855 -38 -39 175 227 337 903 605 -101 203
Enterprise Value (EV)		 27,262 24,716 34,489 26,259 32,826 46,716 47,643 50,242 56,610 49,956 71,656
Market Capitalization		 30,198 25,317 35,693 27,217 34,170 48,822 50,819 52,973 59,940 51,116 74,908
Book Value per Share		 $23.72 $17.49 $6.91 $6.53 $7.76 $9.78 $12.41 $13.46 $7.91 $6.13 $8.45
Tangible Book Value per Share		 $15.30 $5.07 $2.71 $2.23 $3.32 $5.25 $7.87 $8.41 $5.17 $3.30 $5.67
Total Capital		 4,809 3,330 3,895 3,611 4,171 5,161 6,567 7,025 8,229 6,332 8,254
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 374 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 374 0.00
Net Debt		 -2,935 -601 -1,204 -958 -1,344 -2,106 -3,176 -2,731 -3,330 -1,159 -3,253
Capital Expenditures (CapEx)		 35 99 82 58 100 48 43 187 219 261 128
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 269 364 324 245 324 329 641 1,093 1,174 1,011 1,148
Debt-free Net Working Capital (DFNWC)		 3,189 962 1,526 1,203 1,655 2,391 3,717 3,763 4,427 2,544 3,913
Net Working Capital (NWC)		 3,189 962 1,526 1,203 1,655 2,391 3,717 3,763 4,427 2,544 3,913
Net Nonoperating Expense (NNE)		 -98 3.73 -1.94 -7.41 -10 6.06 -3.02 9.67 -91 -45 -48
Net Nonoperating Obligations (NNO)		 -2,935 -601 -1,204 -958 -1,344 -2,106 -3,176 -2,731 -3,330 -1,159 -3,253
Total Depreciation and Amortization (D&A)		 31 41 49 57 61 57 50 61 69 80 114
Debt-free, Cash-free Net Working Capital to Revenue		 9.89% 11.92% 9.63% 6.43% 7.72% 7.16% 11.56% 17.33% 16.44% 13.49% 13.84%
Debt-free Net Working Capital to Revenue		 117.14% 31.54% 45.30% 31.60% 39.40% 51.99% 67.08% 59.62% 62.01% 33.95% 47.18%
Net Working Capital to Revenue		 117.14% 31.54% 45.30% 31.60% 39.40% 51.99% 67.08% 59.62% 62.01% 33.95% 47.18%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.48 $0.61 $0.73 $0.89 $1.02 $0.00 $1.31 $1.13 $1.56 $1.50 $1.95
Adjusted Weighted Average Basic Shares Outstanding		 1.13B 1.18B 1.13B 1.11B 1.08B 1.06B 1.06B 1.05B 1.04B 1.00B 975.89M
Adjusted Diluted Earnings per Share		 $0.47 $0.60 $0.71 $0.88 $1.02 $0.00 $1.29 $1.12 $1.54 $1.49 $1.94
Adjusted Weighted Average Diluted Shares Outstanding		 1.16B 1.20B 1.15B 1.13B 1.09B 1.07B 1.07B 1.07B 1.06B 1.01B 984.45M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.22B 1.13B 1.13B 1.09B 1.07B 1.06B 1.06B 1.04B 1.04B 973.16M 978.27M
Normalized Net Operating Profit after Tax (NOPAT)		 449 716 819 986 1,098 1,416 1,374 1,201 1,540 1,464 1,857
Normalized NOPAT Margin		 16.49% 23.49% 24.30% 25.89% 26.13% 30.78% 24.80% 19.03% 21.57% 19.54% 22.39%
Pre Tax Income Margin		 32.75% 35.41% 35.67% 33.97% 33.71% 35.36% 32.51% 24.91% 28.97% 26.55% 29.93%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 147.78% 316.05% 44.01% 135.15% 63.85% 42.28% 1.00% 64.70% 40.40% 249.95% 5.44%

Quarterly Metrics And Ratios for Monster Beverage

This table displays calculated financial ratios and metrics derived from Monster Beverage's official financial filings.

Metric Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 - - - - - - - - 977,021,216.00 978,270,734.00 978,008,110.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 977,021,216.00 978,270,734.00 978,008,110.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - 0.46 0.58 0.60
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 14.35% 11.78% 2.46% 1.34% 4.74% -2.35% 11.10% 16.81% 17.61% 26.89% 20.17%
EBITDA Growth		 14.65% 16.30% 2.96% -17.65% -13.21% 0.78% 18.09% 45.58% 47.71% 29.14% 18.36%
EBIT Growth		 14.37% 16.12% 2.33% -18.52% -14.22% 0.05% 17.25% 45.44% 47.19% 29.78% 18.80%
NOPAT Growth		 17.05% 7.03% 1.08% -5.47% -24.46% 5.30% 17.42% 36.81% 60.46% 26.91% 18.01%
Net Income Growth		 21.65% 11.22% 2.78% -18.06% -26.23% 0.21% 14.91% 41.39% 65.93% 28.55% 19.59%
EPS Growth		 20.69% 10.53% 5.13% -11.63% -22.86% 7.14% 21.95% 39.47% 70.37% 28.89% 18.00%
Operating Cash Flow Growth		 45.50% -2.91% 28.82% 18.86% 6.30% 23.16% 6.81% 20.50% -17.82% 19.19% 9.27%
Free Cash Flow Firm Growth		 58.19% -287.71% -181.81% 188.50% 246.57% 313.22% 460.70% 115.91% -38.66% -36.94% -30.33%
Invested Capital Growth		 14.09% 16.53% 12.42% 1.93% -2.05% -3.87% -1.37% -1.96% 4.23% 3.25% 3.66%
Revenue Q/Q Growth		 -6.78% 9.77% 0.08% -1.03% -3.66% 2.35% 13.86% 4.05% -3.01% 10.43% 7.83%
EBITDA Q/Q Growth		 -21.88% 27.66% -4.55% -13.48% -17.67% 48.24% 11.84% 6.66% -16.47% 29.60% 2.51%
EBIT Q/Q Growth		 -22.65% 28.37% -4.54% -14.04% -18.57% 49.71% 11.88% 6.63% -17.58% 32.00% 2.42%
NOPAT Q/Q Growth		 -10.91% 17.20% -1.96% -7.65% -28.81% 63.35% 9.33% 7.59% -16.50% 29.20% 1.66%
Net Income Q/Q Growth		 -18.93% 20.46% -3.77% -12.80% -27.02% 63.64% 10.34% 7.30% -14.35% 26.78% 2.64%
EPS Q/Q Growth		 -18.60% -46.15% -2.38% -7.32% -28.95% 66.67% 11.11% 6.00% -13.21% 26.09% 1.72%
Operating Cash Flow Q/Q Growth		 -16.52% -5.11% 5.86% 41.74% -25.34% 9.94% -8.19% 59.90% -49.08% 59.45% -15.83%
Free Cash Flow Firm Q/Q Growth		 21.34% -17.78% 48.74% 286.39% 30.26% 71.34% -13.29% 11.57% -62.99% 76.15% -4.21%
Invested Capital Q/Q Growth		 1.85% 2.24% 0.83% -2.92% -2.13% 0.35% 3.45% -3.50% 4.06% -0.60% 3.86%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 54.24% 54.09% 53.64% 53.15% 55.32% 56.51% 55.71% 55.73% 55.53% 54.96% 55.95%
EBITDA Margin		 27.09% 31.50% 30.04% 26.26% 22.44% 32.51% 31.93% 32.73% 28.19% 33.08% 31.45%
Operating Margin		 25.08% 28.54% 27.74% 25.51% 21.04% 30.72% 29.91% 30.74% 25.46% 31.02% 29.18%
EBIT Margin		 26.01% 30.42% 29.02% 25.20% 21.31% 31.17% 30.63% 31.38% 26.67% 31.88% 30.28%
Profit (Net Income) Margin		 21.21% 23.28% 22.38% 19.72% 14.94% 23.89% 23.15% 23.87% 21.08% 24.20% 23.04%
Tax Burden Percent		 81.54% 76.51% 77.12% 78.24% 70.12% 76.64% 75.58% 76.06% 79.04% 75.92% 76.09%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Effective Tax Rate		 18.46% 23.49% 22.88% 21.76% 29.88% 23.36% 24.42% 23.94% 20.96% 24.08% 23.91%
Return on Invested Capital (ROIC)		 31.77% 34.44% 33.11% 30.46% 22.80% 35.70% 34.52% 38.41% 34.07% 42.32% 40.35%
ROIC Less NNEP Spread (ROIC-NNEP)		 31.33% 33.62% 32.21% 30.69% 22.64% 35.46% 33.77% 37.84% 33.15% 41.75% 39.69%
Return on Net Nonoperating Assets (RNNOA)		 -12.45% -14.03% -9.79% -8.86% -7.17% -12.39% -7.83% -10.67% -10.29% -14.95% -15.37%
Return on Equity (ROE)		 19.32% 20.41% 23.33% 21.60% 15.63% 23.32% 26.70% 27.73% 23.78% 27.36% 24.98%
Cash Return on Invested Capital (CROIC)		 20.35% 18.42% 21.25% 30.01% 32.27% 34.20% 32.41% 36.90% 33.75% 37.15% 37.02%
Operating Return on Assets (OROA)		 20.66% 23.58% 24.74% 21.51% 18.34% 25.34% 27.94% 28.34% 24.98% 29.39% 27.76%
Return on Assets (ROA)		 16.85% 18.04% 19.08% 16.83% 12.86% 19.42% 21.12% 21.55% 19.75% 22.32% 21.12%
Return on Common Equity (ROCE)		 19.32% 20.41% 23.33% 21.60% 15.63% 23.32% 26.70% 27.73% 23.78% 27.36% 24.98%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 19.53% 28.76% 27.78% 0.00% 23.16% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 354 415 407 375 267 437 477 514 429 554 563
NOPAT Margin		 20.45% 21.84% 21.39% 19.96% 14.75% 23.54% 22.61% 23.38% 20.13% 23.55% 22.20%
Net Nonoperating Expense Percent (NNEP)		 0.43% 0.82% 0.90% -0.23% 0.15% 0.24% 0.75% 0.57% 0.92% 0.56% 0.66%
Return On Investment Capital (ROIC_SIMPLE)		 4.30% - - - 4.22% 6.50% 6.64% 6.63% 5.20% 6.35% 6.02%
Cost of Revenue to Revenue		 45.76% 45.91% 46.36% 46.85% 44.68% 43.49% 44.29% 44.27% 44.47% 45.04% 44.05%
SG&A Expenses to Revenue		 29.16% 25.55% 25.90% 27.64% 34.28% 25.79% 25.80% 24.99% 30.06% 23.94% 26.77%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 29.16% 25.55% 25.90% 27.64% 34.28% 25.79% 25.80% 24.99% 30.06% 23.94% 26.77%
Earnings before Interest and Taxes (EBIT)		 450 578 552 474 386 578 647 690 568 750 768
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 469 598 571 494 407 603 674 719 601 779 798
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 7.28 7.19 8.87 8.84 8.58 8.74 8.49 8.49 9.08 8.12 10.04
Price to Tangible Book Value (P/TBV)		 11.13 10.77 17.26 17.51 15.91 15.10 13.76 13.16 13.51 11.78 14.13
Price to Revenue (P/Rev)		 8.39 8.40 7.05 6.90 6.82 7.65 7.98 8.24 9.03 8.06 10.20
Price to Earnings (P/E)		 36.75 36.82 30.84 31.83 33.87 37.71 38.83 38.06 39.31 34.89 44.18
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 2.72% 2.72% 3.24% 3.14% 2.95% 2.65% 2.58% 2.63% 2.54% 2.87% 2.26%
Enterprise Value to Invested Capital (EV/IC)		 11.56 11.60 10.14 10.24 10.41 11.47 11.82 13.06 14.33 13.50 17.39
Enterprise Value to Revenue (EV/Rev)		 7.93 7.92 6.93 6.78 6.67 7.42 7.69 7.87 8.64 7.63 9.74
Enterprise Value to EBITDA (EV/EBITDA)		 26.49 26.17 22.89 23.56 24.13 26.63 27.04 26.13 27.59 24.21 31.01
Enterprise Value to EBIT (EV/EBIT)		 27.37 27.05 23.70 24.46 25.11 27.77 28.24 27.29 28.86 25.29 32.35
Enterprise Value to NOPAT (EV/NOPAT)		 36.75 37.07 32.58 32.40 34.12 37.18 37.83 37.04 38.59 34.00 43.59
Enterprise Value to Operating Cash Flow (EV/OCF)		 32.96 34.08 28.41 26.42 25.90 27.30 28.67 28.79 34.15 30.58 40.11
Enterprise Value to Free Cash Flow (EV/FCFF)		 60.52 67.79 50.52 34.47 31.92 32.89 36.22 35.05 43.33 36.93 47.82
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.13 0.13 0.06 0.03 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.13 0.13 0.06 0.03 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.40 -0.42 -0.30 -0.29 -0.32 -0.35 -0.23 -0.28 -0.31 -0.36 -0.39
Leverage Ratio		 1.18 1.19 1.26 1.27 1.23 1.21 1.29 1.31 1.25 1.25 1.21
Compound Leverage Factor		 1.18 1.19 1.26 1.27 1.23 1.21 1.29 1.31 1.25 1.25 1.21
Debt to Total Capital		 0.00% 0.00% 11.32% 11.47% 5.91% 2.96% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 11.32% 11.47% 5.91% 2.96% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 88.68% 88.53% 94.09% 97.04% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.33 0.35 0.18 0.10 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 -0.36 -0.41 -0.56 -0.82 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.33 0.35 0.18 0.10 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.48 0.48 0.26 0.13 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 -0.52 -0.57 -0.79 -1.15 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.48 0.48 0.26 0.13 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 26.97 26.72 16.97 16.24 20.29 22.92 26.72 23.93 28.71 22.87 30.77
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.81 4.91 3.41 3.13 3.32 3.37 3.52 3.19 3.70 3.26 3.73
Quick Ratio		 3.83 4.01 2.52 2.34 2.51 2.66 2.86 2.63 3.03 2.68 3.10
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -251 -296 -152 282 368 630 547 610 226 398 381
Operating Cash Flow to CapEx		 393.28% 628.05% 737.75% 1,346.10% 509.37% 1,818.77% 1,542.23% 1,723.64% 1,425.35% 3,057.80% 1,098.94%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.79 0.78 0.85 0.85 0.86 0.81 0.91 0.90 0.94 0.92 0.92
Accounts Receivable Turnover		 6.46 5.73 5.48 5.89 6.20 5.46 5.31 5.53 5.84 5.42 5.38
Inventory Turnover		 3.51 3.70 4.07 4.14 4.03 4.06 4.60 4.78 4.77 5.04 5.37
Fixed Asset Turnover		 10.14 9.99 9.61 8.53 7.73 7.50 7.47 7.53 7.79 8.22 8.43
Accounts Payable Turnover		 6.63 6.67 6.33 6.29 6.68 6.62 6.86 5.72 7.09 6.16 6.60
Days Sales Outstanding (DSO)		 56.49 63.66 66.60 61.97 58.84 66.90 68.75 66.05 62.48 67.31 67.80
Days Inventory Outstanding (DIO)		 104.02 98.62 89.79 88.10 90.54 89.93 79.36 76.38 76.58 72.40 67.95
Days Payable Outstanding (DPO)		 55.02 54.75 57.67 58.01 54.64 55.14 53.18 63.81 51.47 59.23 55.34
Cash Conversion Cycle (CCC)		 105.50 107.54 98.73 92.07 94.73 101.70 94.92 78.63 87.60 80.48 80.41
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 4,899 5,009 5,050 4,903 4,798 4,815 4,981 4,807 5,002 4,972 5,164
Invested Capital Turnover		 1.55 1.58 1.55 1.53 1.55 1.52 1.53 1.64 1.69 1.80 1.82
Increase / (Decrease) in Invested Capital		 605 710 558 93 -101 -194 -69 -96 203 157 183
Enterprise Value (EV)		 56,610 58,120 51,218 50,226 49,956 55,245 58,879 62,785 71,656 67,130 89,806
Market Capitalization		 59,940 61,689 52,034 51,103 51,116 56,949 61,089 65,723 74,908 70,885 94,006
Book Value per Share		 $7.91 $8.24 $5.63 $5.90 $6.13 $6.70 $7.37 $7.93 $8.45 $8.92 $9.57
Tangible Book Value per Share		 $5.17 $5.51 $2.89 $2.98 $3.30 $3.88 $4.55 $5.11 $5.67 $6.15 $6.80
Total Capital		 8,229 8,578 6,615 6,528 6,332 6,718 7,191 7,745 8,254 8,727 9,364
Total Debt		 0.00 0.00 749 749 374 199 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 749 749 374 199 0.00 0.00 0.00 0.00 0.00
Net Debt		 -3,330 -3,569 -816 -876 -1,159 -1,704 -2,210 -2,939 -3,253 -3,755 -4,201
Capital Expenditures (CapEx)		 110 66 59 46 91 28 30 43 27 20 46
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 1,174 1,246 1,229 1,027 1,011 1,007 1,099 896 1,148 1,112 1,268
Debt-free Net Working Capital (DFNWC)		 4,427 4,807 2,794 2,653 2,544 2,910 3,171 3,476 3,913 4,097 4,688
Net Working Capital (NWC)		 4,427 4,807 2,794 2,653 2,544 2,910 3,171 3,476 3,913 4,097 4,688
Net Nonoperating Expense (NNE)		 -13 -27 -19 4.55 -3.40 -6.34 -11 -11 -20 -15 -21
Net Nonoperating Obligations (NNO)		 -3,330 -3,569 -816 -876 -1,159 -1,704 -2,210 -2,939 -3,253 -3,755 -4,201
Total Depreciation and Amortization (D&A)		 19 20 19 20 21 25 28 30 32 28 30
Debt-free, Cash-free Net Working Capital to Revenue		 16.44% 16.97% 16.64% 13.86% 13.49% 13.52% 14.34% 11.24% 13.84% 12.64% 13.76%
Debt-free Net Working Capital to Revenue		 62.01% 65.48% 37.83% 35.79% 33.95% 39.07% 41.40% 43.58% 47.18% 46.59% 50.85%
Net Working Capital to Revenue		 62.01% 65.48% 37.83% 35.79% 33.95% 39.07% 41.40% 43.58% 47.18% 46.59% 50.85%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.35 $0.42 $0.41 $0.38 $0.27 $0.45 $0.50 $0.54 $0.46 $0.58 $0.60
Adjusted Weighted Average Basic Shares Outstanding		 1.04B 1.04B 1.03B 975.84M 1.00B 973.62M 975.75M 976.61M 975.89M 978.31M 978.66M
Adjusted Diluted Earnings per Share		 $0.35 $0.42 $0.41 $0.38 $0.27 $0.45 $0.50 $0.53 $0.46 $0.58 $0.59
Adjusted Weighted Average Diluted Shares Outstanding		 1.06B 1.05B 1.04B 983.17M 1.01B 981.28M 984.00M 984.97M 984.45M 988.26M 988.48M
Adjusted Basic & Diluted Earnings per Share		 $0.35 $0.00 $0.00 $0.00 $0.27 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.04B 1.04B 979.54M 972.52M 973.16M 975.25M 976.43M 977.02M 978.27M 978.01M 979.53M
Normalized Net Operating Profit after Tax (NOPAT)		 354 415 407 375 267 437 477 514 429 554 563
Normalized NOPAT Margin		 20.45% 21.84% 21.39% 19.96% 14.75% 23.54% 22.61% 23.38% 20.13% 23.55% 22.20%
Pre Tax Income Margin		 26.01% 30.42% 29.02% 25.20% 21.31% 31.17% 30.63% 31.38% 26.67% 31.88% 30.28%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 40.40% 44.41% 225.40% 245.50% 249.95% 242.93% 35.21% 2.64% 5.44% 10.88% 10.39%

Financials Breakdown Chart

Key Financial Trends

Monster Beverage (NASDAQ: MNST) continues to show a strong earnings profile, but the latest quarterly data also highlights some near-term pressure on margins, working capital, and cash deployment. Over the past several years, the company has remained highly profitable, generated substantial operating cash flow, and maintained a very strong balance sheet with no long-term debt in the latest quarter. At the same time, revenue growth has been modest at times, gross margin has softened from earlier levels, and Monster has been returning a lot of capital to shareholders through buybacks.

  • Healthy revenue growth continues: Q1 2026 revenue rose to $2.35 billion from $2.13 billion in Q4 2025 and $1.85 billion in Q1 2025, showing continued top-line expansion.
  • Profitability remains strong: Q1 2026 net income was $569.5 million, up from $449.2 million in Q4 2025 and $443.0 million in Q1 2025.
  • Operating cash flow is robust: Q1 2026 operating cash flow came in at $605.0 million, supporting the company’s ability to fund operations, buybacks, and investments.
  • Balance sheet is still very liquid: As of Q1 2026, Monster held $2.04 billion in cash and equivalents plus $945.3 million in short-term investments.
  • No long-term debt in the latest quarter: Total long-term debt was $0 in Q1 2026, giving Monster considerable financial flexibility.
  • Shareholders continue to benefit from repurchases: Monster repurchased $134.0 million of common equity in Q1 2026, following steady buybacks in prior quarters.
  • Equity and retained earnings have grown materially over time: Total common equity reached $8.73 billion in Q1 2026 versus $6.52 billion in Q1 2025 and $5.96 billion at year-end 2024.
  • Margins have been under some pressure: In Q1 2026, gross profit was $1.29 billion on $2.35 billion of revenue, indicating a gross margin around 55%, lower than some earlier periods in the historical set.
  • Working capital needs can be volatile: Q1 2026 changes in operating assets and liabilities were a $24.1 million use of cash, which suggests some seasonal or operational drag.
  • Cash declined sequentially in Q1 2026: Cash and equivalents fell to $2.04 billion from $2.29 billion in Q3 2025, while net change in cash was negative $48.4 million for the quarter.

Looking at the broader trend, Monster Beverage remains a premium consumer brand with consistently strong earnings and cash generation. Revenue has generally moved higher year over year, but growth is not explosive, and the business still depends on preserving margin discipline. The company’s capital return strategy is aggressive, and while that supports EPS and shareholder returns, it also reduces cash balances over time.

Bottom line: Monster Beverage still looks fundamentally solid, with excellent liquidity, no latest-quarter long-term debt, and strong operating cash flow. The main watch items for investors are margin trends, whether revenue growth can accelerate meaningfully, and how much buybacks continue to consume cash.

08/28/26 04:01 AM ETAI Generated. May Contain Errors.

Monster Beverage Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Monster Beverage's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Monster Beverage's net income appears to be on an upward trend, with a most recent value of $1.91 billion in 2025, rising from $546.73 million in 2015. The previous period was $1.51 billion in 2024. Find out what analysts predict for Monster Beverage in the coming months.

Monster Beverage's total operating income in 2025 was $2.42 billion, based on the following breakdown:
  • Total Gross Profit: $4.63 billion
  • Total Operating Expenses: $2.21 billion

Over the last 10 years, Monster Beverage's total revenue changed from $2.72 billion in 2015 to $8.29 billion in 2025, a change of 204.7%.

Monster Beverage's total liabilities were at $1.73 billion at the end of 2025, a 1.5% decrease from 2024, and a 127.7% increase since 2015.

In the past 10 years, Monster Beverage's cash and equivalents has ranged from $377.58 million in 2016 to $2.30 billion in 2023, and is currently $2.09 billion as of their latest financial filing in 2025.

Over the last 10 years, Monster Beverage's book value per share changed from 23.72 in 2015 to 8.45 in 2025, a change of -64.4%.


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Financial statements for NASDAQ:MNST last updated on 8/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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