Monster Beverage (MNST) Financials

$75.80 +0.60 (+0.80%)

Closing price 04:00 PM Eastern

Extended Trading

$76.78 +0.98 (+1.29%)

As of 05:24 PM Eastern

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

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	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	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	414	453	367	442	425	371	271	443	489	524	449
Consolidated Net Income / (Loss)	414	453	367	442	425	371	271	443	489	524	449
Net Income / (Loss) Continuing Operations	414	453	367	442	425	371	271	443	489	524	449
Total Pre-Tax Income	539	582	450	578	552	474	386	578	647	690	568
Total Operating Income	524	511	434	542	527	480	381	570	632	675	543
Total Gross Profit	974	984	938	1,027	1,020	1,000	1,002	1,048	1,176	1,224	1,183
Total Revenue	1,855	1,856	1,730	1,899	1,901	1,881	1,812	1,855	2,112	2,197	2,131
Operating Revenue	1,855	1,856	1,730	1,899	1,901	1,881	1,812	1,855	2,112	2,197	2,131
Total Cost of Revenue	881	872	792	872	881	881	810	807	935	973	948
Operating Cost of Revenue	881	872	792	872	881	881	810	807	935	973	948
Total Operating Expenses	450	473	504	485	492	520	621	478	545	549	641
Selling, General & Admin Expense	450	473	504	485	492	520	621	478	545	549	641
Total Other Income / (Expense), net	15	71	16	36	24	-5.82	4.86	8.27	15	14	26
Other Income / (Expense), net	15	71	16	36	24	-5.82	4.86	8.27	15	14	26
Income Tax Expense	125	129	83	136	126	103	115	135	158	165	119
Basic Earnings per Share	$0.40	$0.43	$0.35	$0.42	$0.41	$0.38	$0.27	$0.45	$0.50	$0.54	$0.46
Weighted Average Basic Shares Outstanding	1.05B	1.05B	1.04B	1.04B	1.03B	975.84M	1.00B	973.62M	975.75M	976.61M	975.89M
Diluted Earnings per Share	$0.39	$0.43	$0.35	$0.42	$0.41	$0.38	$0.27	$0.45	$0.50	$0.53	$0.46
Weighted Average Diluted Shares Outstanding	1.06B	1.06B	1.06B	1.05B	1.04B	983.17M	1.01B	981.28M	984.00M	984.97M	984.45M
Weighted Average Basic & Diluted Shares Outstanding	1.05B	1.04B	1.04B	1.04B	979.54M	972.52M	973.16M	975.25M	976.43M	977.02M	978.27M

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

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	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	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	12/31/2025
Net Change in Cash & Equivalents	197	-96	524	279	-1,012	61	-92	370	24	366	-205
Net Cash From Operating Activities	339	520	434	412	436	618	462	508	466	745	379
Net Cash From Continuing Operating Activities	339	520	434	412	436	618	462	508	466	745	379
Net Income / (Loss) Continuing Operations	414	453	367	442	425	371	271	443	489	524	449
Consolidated Net Income / (Loss)	414	453	367	442	425	371	271	443	489	524	449
Depreciation Expense	16	18	19	20	19	20	21	25	28	30	32
Non-Cash Adjustments To Reconcile Net Income	22	-24	60	25	30	31	156	27	35	36	96
Changes in Operating Assets and Liabilities, net	-112	73	-11	-76	-39	197	14	12	-85	155	-198
Net Cash From Investing Activities	-105	-202	167	-35	939	-60	-109	-31	-327	-362	-598
Net Cash From Continuing Investing Activities	-105	-202	167	-35	939	-60	-109	-31	-327	-362	-598
Purchase of Property, Plant & Equipment	-42	-28	-111	-66	-60	-47	-91	-29	-31	-44	-28
Purchase of Investments	-572	-314	-215	-342	0.11	-	-	0.00	-283	-335	-651
Sale of Property, Plant & Equipment	0.47	0.72	0.77	0.42	0.63	1.04	0.64	1.15	1.19	0.41	1.56
Sale and/or Maturity of Investments	515	508	484	382	996	-	-	0.00	-	21	85
Other Investing Activities, net	-6.52	-5.48	8.85	-9.60	1.87	-14	-19	-2.95	-14	-3.68	-5.46
Net Cash From Financing Activities	-32	-396	-109	-85	-2,356	-527	-361	-146	-163	-3.63	-12
Net Cash From Continuing Financing Activities	-32	-396	-109	-85	-2,356	-527	-361	-146	-163	-3.63	-12
Repayment of Debt	0.61	-4.61	-2.64	-2.90	-5.15	-1.58	-377	-177	-203	-3.02	-2.30
Repurchase of Common Equity	-56	-397	-171	-120	-3,114	-536	-1.69	-17	-	-27	-60
Issuance of Common Equity	23	5.89	65	38	14	10	17	48	40	27	50
Effect of Exchange Rate Changes	-4.36	-18	32	-13	-31	30	-83	39	48	-14	25
Cash Interest Paid	0.05	0.11	0.11	0.09	1.37	12	11	4.17	0.97	0.15	0.04

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
Long-Term Debt	-	-	-	-	-	-	-	-	0.00	374	0.00
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

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	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025
Period end date	3/31/2023	6/30/2023	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
Total Assets	8,844	9,263	9,314	9,687	10,098	8,061	8,053	7,719	8,227	8,730	9,611
Total Current Assets	5,295	5,654	5,312	5,589	6,036	3,954	3,898	3,642	4,135	4,429	5,066
Cash & Equivalents	1,673	1,870	1,774	2,298	2,577	1,565	1,625	1,533	1,903	1,927	2,293
Short-Term Investments	1,383	1,417	1,237	956	984	0.00	0.00	0.00	-	145	286
Accounts Receivable	1,190	1,333	1,231	1,194	1,370	1,362	1,285	1,222	1,360	1,523	1,601
Inventories, net	907	847	884	971	940	834	770	737	725	658	705
Prepaid Expenses	111	149	163	116	125	129	125	107	113	137	143
Current Deferred & Refundable Income Taxes	31	39	23	54	40	63	92	42	34	39	38
Plant, Property, & Equipment, net	546	577	731	891	923	961	1,007	1,047	1,064	1,091	1,111
Total Noncurrent Assets	3,004	3,033	3,272	3,207	3,139	3,146	3,149	3,031	3,028	3,210	3,434
Long-Term Investments	41	62	53	76	8.16	0.00	0.00	0.00	-	138	359
Goodwill	1,418	1,418	1,418	1,418	1,418	1,418	1,418	1,332	1,332	1,332	1,332
Intangible Assets	1,223	1,224	1,459	1,427	1,431	1,433	1,442	1,414	1,416	1,419	1,419
Noncurrent Deferred & Refundable Income Taxes	177	177	177	175	175	187	183	184	184	185	185
Other Noncurrent Operating Assets	145	151	165	110	107	107	105	100	96	136	139
Total Liabilities & Shareholders' Equity	8,844	9,263	9,314	9,687	10,098	8,061	8,053	7,719	8,227	8,730	9,611
Total Liabilities	1,449	1,422	1,441	1,458	1,520	2,195	2,274	1,761	1,708	1,539	1,866
Total Current Liabilities	1,188	1,163	1,179	1,162	1,229	1,161	1,245	1,098	1,225	1,259	1,590
Accounts Payable	491	569	540	564	534	511	549	467	487	489	683
Accrued Expenses	554	482	504	453	524	534	561	488	567	619	718
Current Deferred Revenue	44	43	40	42	44	44	46	46	48	49	47
Current Deferred & Payable Income Tax Liabilities	55	13	18	15	75	11	7.64	4.01	68	28	40
Current Employee Benefit Liabilities	43	56	77	87	53	60	82	92	56	73	102
Total Noncurrent Liabilities	261	259	262	296	291	1,034	1,029	664	482	280	276
Long-Term Debt	-	-	-	0.00	-	749	749	374	199	0.00	0.00
Noncurrent Deferred Revenue	220	215	209	204	199	192	186	179	174	170	165
Other Noncurrent Operating Liabilities	42	44	53	92	93	64	65	111	109	110	111
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	7,395	7,841	7,873	8,229	8,578	5,866	5,779	5,958	6,519	7,191	7,745
Total Preferred & Common Equity	7,395	7,841	7,873	8,229	8,578	5,866	5,779	5,958	6,519	7,191	7,745
Total Common Equity	7,395	7,841	7,873	8,229	8,578	5,866	5,779	5,958	6,519	7,191	7,745
Common Stock	4,835	4,875	4,899	4,981	5,041	5,074	5,112	5,151	5,219	5,291	5,350
Retained Earnings	4,706	5,120	5,573	5,940	6,382	6,807	7,178	7,449	7,892	8,381	8,905
Treasury Stock	-1,998	-1,998	-2,400	-2,566	-2,687	-5,832	-6,372	-6,372	-6,389	-6,389	-6,416
Accumulated Other Comprehensive Income / (Loss)	-148	-156	-198	-125	-158	-182	-138	-269	-203	-91	-93

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%

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

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025
Period end date	6/30/2023	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	12/31/2025
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	977,021,216.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	977,021,216.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.46
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	12.06%	14.27%	14.35%	11.78%	2.46%	1.34%	4.74%	-2.35%	11.10%	16.81%	17.61%
EBITDA Growth	45.17%	37.68%	14.65%	16.30%	2.96%	-17.65%	-13.21%	0.78%	18.09%	45.58%	47.71%
EBIT Growth	47.19%	38.52%	14.37%	16.12%	2.33%	-18.52%	-14.22%	0.05%	17.25%	45.44%	47.19%
NOPAT Growth	44.47%	23.83%	17.05%	7.03%	1.08%	-5.47%	-24.46%	5.30%	17.42%	36.81%	60.46%
Net Income Growth	51.40%	40.42%	21.65%	11.22%	2.78%	-18.06%	-26.23%	0.21%	14.91%	41.39%	65.93%
EPS Growth	50.00%	43.33%	20.69%	10.53%	5.13%	-11.63%	-22.86%	7.14%	21.95%	39.47%	70.37%
Operating Cash Flow Growth	158.51%	13.47%	45.50%	-2.91%	28.82%	18.86%	6.30%	23.16%	6.81%	20.50%	-17.82%
Free Cash Flow Firm Growth	125.19%	35.23%	58.19%	-287.71%	-181.81%	188.50%	246.57%	313.22%	460.70%	115.91%	-38.66%
Invested Capital Growth	5.08%	17.50%	14.09%	16.53%	12.42%	1.93%	-2.05%	-3.87%	-1.37%	-1.96%	4.23%
Revenue Q/Q Growth	9.18%	0.06%	-6.78%	9.77%	0.08%	-1.03%	-3.66%	2.35%	13.86%	4.05%	-3.01%
EBITDA Q/Q Growth	7.81%	8.17%	-21.88%	27.66%	-4.55%	-13.48%	-17.67%	48.24%	11.84%	6.66%	-16.47%
EBIT Q/Q Growth	8.32%	7.96%	-22.65%	28.37%	-4.54%	-14.04%	-18.57%	49.71%	11.88%	6.63%	-17.58%
NOPAT Q/Q Growth	3.81%	-1.26%	-10.91%	17.20%	-1.96%	-7.65%	-28.81%	63.35%	9.33%	7.59%	-16.50%
Net Income Q/Q Growth	4.13%	9.38%	-18.93%	20.46%	-3.77%	-12.80%	-27.02%	63.64%	10.34%	7.30%	-14.35%
EPS Q/Q Growth	2.63%	10.26%	-18.60%	-46.15%	-2.38%	-7.32%	-28.95%	66.67%	11.11%	6.00%	-13.21%
Operating Cash Flow Q/Q Growth	-20.21%	53.61%	-16.52%	-5.11%	5.86%	41.74%	-25.34%	9.94%	-8.19%	59.90%	-49.08%
Free Cash Flow Firm Q/Q Growth	17.60%	-272.29%	21.34%	-17.78%	48.74%	286.39%	30.26%	71.34%	-13.29%	11.57%	-62.99%
Invested Capital Q/Q Growth	4.51%	7.07%	1.85%	2.24%	0.83%	-2.92%	-2.13%	0.35%	3.45%	-3.50%	4.06%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	52.52%	53.00%	54.24%	54.09%	53.64%	53.15%	55.32%	56.51%	55.71%	55.73%	55.53%
EBITDA Margin	29.90%	32.32%	27.09%	31.50%	30.04%	26.26%	22.44%	32.51%	31.93%	32.73%	28.19%
Operating Margin	28.24%	27.51%	25.08%	28.54%	27.74%	25.51%	21.04%	30.72%	29.91%	30.74%	25.46%
EBIT Margin	29.06%	31.35%	26.01%	30.42%	29.02%	25.20%	21.31%	31.17%	30.63%	31.38%	26.67%
Profit (Net Income) Margin	22.31%	24.39%	21.21%	23.28%	22.38%	19.72%	14.94%	23.89%	23.15%	23.87%	21.08%
Tax Burden Percent	76.79%	77.80%	81.54%	76.51%	77.12%	78.24%	70.12%	76.64%	75.58%	76.06%	79.04%
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	23.21%	22.20%	18.46%	23.49%	22.88%	21.76%	29.88%	23.36%	24.42%	23.94%	20.96%
Return on Invested Capital (ROIC)	33.10%	33.28%	31.77%	34.44%	33.11%	30.46%	22.80%	35.70%	34.52%	38.41%	34.07%
ROIC Less NNEP Spread (ROIC-NNEP)	32.70%	31.36%	31.33%	33.62%	32.21%	30.69%	22.64%	35.46%	33.77%	37.84%	33.15%
Return on Net Nonoperating Assets (RNNOA)	-13.13%	-12.35%	-12.45%	-14.03%	-9.79%	-8.86%	-7.17%	-12.39%	-7.83%	-10.67%	-10.29%
Return on Equity (ROE)	19.97%	20.93%	19.32%	20.41%	23.33%	21.60%	15.63%	23.32%	26.70%	27.73%	23.78%
Cash Return on Invested Capital (CROIC)	27.28%	17.36%	20.35%	18.42%	21.25%	30.01%	32.27%	34.20%	32.41%	36.90%	33.75%
Operating Return on Assets (OROA)	22.30%	24.78%	20.66%	23.58%	24.74%	21.51%	18.34%	25.34%	27.94%	28.34%	24.98%
Return on Assets (ROA)	17.12%	19.28%	16.85%	18.04%	19.08%	16.83%	12.86%	19.42%	21.12%	21.55%	19.75%
Return on Common Equity (ROCE)	19.97%	20.93%	19.32%	20.41%	23.33%	21.60%	15.63%	23.32%	26.70%	27.73%	23.78%
Return on Equity Simple (ROE_SIMPLE)	18.30%	19.89%	0.00%	19.53%	28.76%	27.78%	0.00%	23.16%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	402	397	354	415	407	375	267	437	477	514	429
NOPAT Margin	21.68%	21.40%	20.45%	21.84%	21.39%	19.96%	14.75%	23.54%	22.61%	23.38%	20.13%
Net Nonoperating Expense Percent (NNEP)	0.40%	1.92%	0.43%	0.82%	0.90%	-0.23%	0.15%	0.24%	0.75%	0.57%	0.92%
Return On Investment Capital (ROIC_SIMPLE)	-	-	4.30%	-	-	-	4.22%	6.50%	6.64%	6.63%	5.20%
Cost of Revenue to Revenue	47.48%	47.00%	45.76%	45.91%	46.36%	46.85%	44.68%	43.49%	44.29%	44.27%	44.47%
SG&A Expenses to Revenue	24.28%	25.50%	29.16%	25.55%	25.90%	27.64%	34.28%	25.79%	25.80%	24.99%	30.06%
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	24.28%	25.50%	29.16%	25.55%	25.90%	27.64%	34.28%	25.79%	25.80%	24.99%	30.06%
Earnings before Interest and Taxes (EBIT)	539	582	450	578	552	474	386	578	647	690	568
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	555	600	469	598	571	494	407	603	674	719	601
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	7.67	7.05	7.28	7.19	8.87	8.84	8.58	8.74	8.49	8.49	9.08
Price to Tangible Book Value (P/TBV)	11.56	11.10	11.13	10.77	17.26	17.51	15.91	15.10	13.76	13.16	13.51
Price to Revenue (P/Rev)	8.99	8.01	8.39	8.40	7.05	6.90	6.82	7.65	7.98	8.24	9.03
Price to Earnings (P/E)	41.89	35.43	36.75	36.82	30.84	31.83	33.87	37.71	38.83	38.06	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	2.39%	2.82%	2.72%	2.72%	3.24%	3.14%	2.95%	2.65%	2.58%	2.63%	2.54%
Enterprise Value to Invested Capital (EV/IC)	12.64	10.89	11.56	11.60	10.14	10.24	10.41	11.47	11.82	13.06	14.33
Enterprise Value to Revenue (EV/Rev)	8.49	7.57	7.93	7.92	6.93	6.78	6.67	7.42	7.69	7.87	8.64
Enterprise Value to EBITDA (EV/EBITDA)	29.67	25.22	26.49	26.17	22.89	23.56	24.13	26.63	27.04	26.13	27.59
Enterprise Value to EBIT (EV/EBIT)	30.69	26.05	27.37	27.05	23.70	24.46	25.11	27.77	28.24	27.29	28.86
Enterprise Value to NOPAT (EV/NOPAT)	40.18	35.19	36.75	37.07	32.58	32.40	34.12	37.18	37.83	37.04	38.59
Enterprise Value to Operating Cash Flow (EV/OCF)	37.35	33.13	32.96	34.08	28.41	26.42	25.90	27.30	28.67	28.79	34.15
Enterprise Value to Free Cash Flow (EV/FCFF)	47.47	67.80	60.52	67.79	50.52	34.47	31.92	32.89	36.22	35.05	43.33
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.13	0.13	0.06	0.03	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.13	0.13	0.06	0.03	0.00	0.00	0.00
Financial Leverage	-0.40	-0.39	-0.40	-0.42	-0.30	-0.29	-0.32	-0.35	-0.23	-0.28	-0.31
Leverage Ratio	1.19	1.19	1.18	1.19	1.26	1.27	1.23	1.21	1.29	1.31	1.25
Compound Leverage Factor	1.19	1.19	1.18	1.19	1.26	1.27	1.23	1.21	1.29	1.31	1.25
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	11.32%	11.47%	5.91%	2.96%	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%	0.00%	0.00%	11.32%	11.47%	5.91%	2.96%	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%	100.00%	100.00%	88.68%	88.53%	94.09%	97.04%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.33	0.35	0.18	0.10	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	-0.36	-0.41	-0.56	-0.82	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.33	0.35	0.18	0.10	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.48	0.48	0.26	0.13	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	-0.52	-0.57	-0.79	-1.15	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.48	0.48	0.26	0.13	0.00	0.00	0.00
Altman Z-Score	27.64	25.41	26.97	26.72	16.97	16.24	20.29	22.92	26.72	23.93	28.71
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	4.86	4.51	4.81	4.91	3.41	3.13	3.32	3.37	3.52	3.19	3.70
Quick Ratio	3.97	3.60	3.83	4.01	2.52	2.34	2.51	2.66	2.86	2.63	3.03
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	185	-319	-251	-296	-152	282	368	630	547	610	226
Operating Cash Flow to CapEx	809.21%	1,921.14%	393.28%	628.05%	737.75%	1,346.10%	509.37%	1,818.77%	1,542.23%	1,723.64%	1,425.35%
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	0.77	0.79	0.79	0.78	0.85	0.85	0.86	0.81	0.91	0.90	0.94
Accounts Receivable Turnover	5.33	6.07	6.46	5.73	5.48	5.89	6.20	5.46	5.31	5.53	5.84
Inventory Turnover	3.69	3.76	3.51	3.70	4.07	4.14	4.03	4.06	4.60	4.78	4.77
Fixed Asset Turnover	12.85	11.38	10.14	9.99	9.61	8.53	7.73	7.50	7.47	7.53	7.79
Accounts Payable Turnover	6.03	6.19	6.63	6.67	6.33	6.29	6.68	6.62	6.86	5.72	7.09
Days Sales Outstanding (DSO)	68.42	60.18	56.49	63.66	66.60	61.97	58.84	66.90	68.75	66.05	62.48
Days Inventory Outstanding (DIO)	98.79	97.10	104.02	98.62	89.79	88.10	90.54	89.93	79.36	76.38	76.58
Days Payable Outstanding (DPO)	60.52	58.94	55.02	54.75	57.67	58.01	54.64	55.14	53.18	63.81	51.47
Cash Conversion Cycle (CCC)	106.69	98.34	105.50	107.54	98.73	92.07	94.73	101.70	94.92	78.63	87.60
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,492	4,810	4,899	5,009	5,050	4,903	4,798	4,815	4,981	4,807	5,002
Invested Capital Turnover	1.53	1.56	1.55	1.58	1.55	1.53	1.55	1.52	1.53	1.64	1.69
Increase / (Decrease) in Invested Capital	217	716	605	710	558	93	-101	-194	-69	-96	203
Enterprise Value (EV)	56,774	52,403	56,610	58,120	51,218	50,226	49,956	55,245	58,879	62,785	71,656
Market Capitalization	60,123	55,466	59,940	61,689	52,034	51,103	51,116	56,949	61,089	65,723	74,908
Book Value per Share	$7.49	$7.52	$7.91	$8.24	$5.63	$5.90	$6.13	$6.70	$7.37	$7.93	$8.45
Tangible Book Value per Share	$4.97	$4.77	$5.17	$5.51	$2.89	$2.98	$3.30	$3.88	$4.55	$5.11	$5.67
Total Capital	7,841	7,873	8,229	8,578	6,615	6,528	6,332	6,718	7,191	7,745	8,254
Total Debt	0.00	0.00	0.00	0.00	749	749	374	199	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	749	749	374	199	0.00	0.00	0.00
Net Debt	-3,349	-3,063	-3,330	-3,569	-816	-876	-1,159	-1,704	-2,210	-2,939	-3,253
Capital Expenditures (CapEx)	42	27	110	66	59	46	91	28	30	43	27
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,205	1,122	1,174	1,246	1,229	1,027	1,011	1,007	1,099	896	1,148
Debt-free Net Working Capital (DFNWC)	4,492	4,133	4,427	4,807	2,794	2,653	2,544	2,910	3,171	3,476	3,913
Net Working Capital (NWC)	4,492	4,133	4,427	4,807	2,794	2,653	2,544	2,910	3,171	3,476	3,913
Net Nonoperating Expense (NNE)	-12	-56	-13	-27	-19	4.55	-3.40	-6.34	-11	-11	-20
Net Nonoperating Obligations (NNO)	-3,349	-3,063	-3,330	-3,569	-816	-876	-1,159	-1,704	-2,210	-2,939	-3,253
Total Depreciation and Amortization (D&A)	16	18	19	20	19	20	21	25	28	30	32
Debt-free, Cash-free Net Working Capital to Revenue	18.00%	16.21%	16.44%	16.97%	16.64%	13.86%	13.49%	13.52%	14.34%	11.24%	13.84%
Debt-free Net Working Capital to Revenue	67.13%	59.70%	62.01%	65.48%	37.83%	35.79%	33.95%	39.07%	41.40%	43.58%	47.18%
Net Working Capital to Revenue	67.13%	59.70%	62.01%	65.48%	37.83%	35.79%	33.95%	39.07%	41.40%	43.58%	47.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.40	$0.43	$0.35	$0.42	$0.41	$0.38	$0.27	$0.45	$0.50	$0.54	$0.46
Adjusted Weighted Average Basic Shares Outstanding	1.05B	1.05B	1.04B	1.04B	1.03B	975.84M	1.00B	973.62M	975.75M	976.61M	975.89M
Adjusted Diluted Earnings per Share	$0.39	$0.43	$0.35	$0.42	$0.41	$0.38	$0.27	$0.45	$0.50	$0.53	$0.46
Adjusted Weighted Average Diluted Shares Outstanding	1.06B	1.06B	1.06B	1.05B	1.04B	983.17M	1.01B	981.28M	984.00M	984.97M	984.45M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.35	$0.00	$0.00	$0.00	$0.27	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	1.05B	1.04B	1.04B	1.04B	979.54M	972.52M	973.16M	975.25M	976.43M	977.02M	978.27M
Normalized Net Operating Profit after Tax (NOPAT)	402	397	354	415	407	375	267	437	477	514	429
Normalized NOPAT Margin	21.68%	21.40%	20.45%	21.84%	21.39%	19.96%	14.75%	23.54%	22.61%	23.38%	20.13%
Pre Tax Income Margin	29.06%	31.35%	26.01%	30.42%	29.02%	25.20%	21.31%	31.17%	30.63%	31.38%	26.67%
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	39.39%	48.91%	40.40%	44.41%	225.40%	245.50%	249.95%	242.93%	35.21%	2.64%	5.44%

Financials Breakdown Chart

Key Financial Trends

Monster Beverage Corp (MNST) has demonstrated solid top-line growth, improving profitability, and strong balance-sheet health across the last four years of quarterly reports. The most recent data show continued revenue growth, margin expansion, meaningful cash generation, and a debt-free capital structure, which supports a favorable view for long-term investors. Below are the highlights, with the strongest positives shown first.

Revenue growth and gross-margin expansion: In Q4 2025, operating revenue was 2,131,053,000 USD with gross profit of 1,183,334,000 USD, yielding a gross margin of about 55.5% (up from roughly 51.8% in Q4 2022, which had gross profit of 784,314,000 on 1,512,000,000 USD). This indicates both higher sales and improved efficiency at converting sales to gross profit.
Net income growth and stronger earnings per share: Q4 2025 net income attributable to common shareholders was 449,190,000 USD with basic and diluted EPS of 0.46 USD, up from 301,674,000 USD in Q4 2022 and EPS of about 0.29 USD, signaling meaningful improvement in profitability per share over the period.
Consistent quarterly operating cash flow in 2025: The company generated positive cash from continuing operating activities in each quarter of 2025 (Q1: ~507.6m, Q2: ~466.0m, Q3: ~745.1m, Q4: ~379.4m), underscoring durable cash generation that supports ongoing capital allocation.
Strong liquidity and healthy working capital: By Q3 2025, Monster held Cash & Equivalents around 2.29B USD, Total Current Assets around 5.07B USD, and Total Current Liabilities about 1.59B USD, implying a solid liquidity buffer and a current ratio well above 3x.
Debt-free balance sheet with a robust equity base: Long-Term Debt is effectively zero across recent quarters, and Total Common Equity sits around 7.7B USD in Q3 2025, reflecting a strong and growing equity base with substantial retained earnings.
Capital allocation signals: The company engages in occasional equity issuance and share repurchases, indicating active, flexible capital management. Net financing activity has varied by quarter, reflecting ongoing efforts to optimize capital deployment.
Inventory and cost discipline: Inventories have remained at manageable levels (roughly 700–770M USD in recent periods), suggesting stable inventory management in support of steady sales growth without excessive buildup.
Expense control and margin stability: Selling, General & Administrative expenses and other operating costs have remained within a predictable range relative to revenue, helping preserve operating margins amid revenue growth.
Share efficiency and dilution: Weighted average shares outstanding for basic and diluted earnings per share have hovered in the mid-to-high 970s to low 980s millions (e.g., about 976–984 million across recent quarters), indicating modest ongoing dilution alongside steady earnings growth.
Investing outflows reflect ongoing growth investments: The company has seen sizable investing outflows in multiple quarters (for example, Net Cash From Investing Activities around -597.5M in Q4 2025 and -361.5M in Q3 2025), consistent with capex and strategic investments. While this supports long-term growth, it can temporarily pressure near-term cash balances.

Bottom line: Monster Beverage shows a pattern of growing revenue, improving margins, strong quarterly cash flow, and a debt-free balance sheet with a solid equity base. While investing activities and capital allocation choices have some near-term cash impact, the company’s profitability and liquidity profile remain strong, supporting a constructive long-term view for retail investors.

05/05/26 02:44 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Monster Beverage's Financials

When does Monster Beverage's financial year end?

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

How has Monster Beverage's net income changed over the last 10 years?

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. See where experts think Monster Beverage is headed by visiting Monster Beverage's forecast page.

What is Monster Beverage's operating income?

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

How has Monster Beverage's revenue changed over the last 10 years?

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%.

How much debt does Monster Beverage have?

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.

How much cash does Monster Beverage have?

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.

How has Monster Beverage's book value per share changed over the last 10 years?

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%.

Related Companies

Financial statements for NASDAQ:MNST last updated on 3/4/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Monster Beverage (MNST) Financials

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Monster Beverage (MNST) Financials

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