NASDAQ : MNST
Monster Beverage Corporation — Financial statements
Consumer Staples · Beverages - Non-Alcoholic · United States
Last price 47.34 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 92.74B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Monster Beverage Corporation (MNST) reported revenue of 9.22B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 9.22B | 8.29B | 7.49B | 7.14B | 6.31B | 5.54B |
| Cost of Revenue | 4.10B | 3.66B | 3.44B | 3.35B | 3.14B | 2.43B |
| Gross Profit | 5.12B | 4.63B | 4.05B | 3.79B | 3.17B | 3.11B |
| Selling, General & Admin | 2.31B | 2.09B | 1.99B | 1.80B | 1.59B | 1.31B |
| Operating Expenses | 2.31B | 2.09B | 1.99B | 1.80B | 1.59B | 1.31B |
| Operating Income | 2.81B | 2.54B | 2.06B | 1.99B | 1.59B | 1.80B |
| Interest Expense | -2.10M | -6.60M | -27.90M | -24.00K | -19.00K | |
| Interest & Investment Income | 114.80M | 85.20M | 115.00M | |||
| Currency Exchange Gain (Loss) | -18.90M | -11.90M | -26.40M | -60.20M | -37.90M | 300.00K |
| Other Non Operating Income (Expenses) | -5.96M | -3.52M | -1.53M | 175.33M | 25.17M | 3.67M |
| EBT Excluding Unusual Items | 2.90B | 2.61B | 2.12B | 2.11B | 1.57B | 1.81B |
| Impairment of Goodwill | -86.30M | -86.30M | -86.30M | |||
| Asset Writedown | -38.41M | -38.41M | -40.80M | -38.70M | -2.20M | |
| Other Unusual Items | -5.30M | |||||
| Pretax Income | 2.78B | 2.48B | 1.99B | 2.07B | 1.57B | 1.80B |
| Income Tax Expense | 648.55M | 577.10M | 480.41M | 437.49M | 380.34M | 423.94M |
| Net Income | 2.13B | 1.91B | 1.51B | 1.63B | 1.19B | 1.38B |
| Net Income to Common | 2.13B | 1.91B | 1.51B | 1.63B | 1.19B | 1.38B |
| Shares Outstanding (Basic) | 1.96B | 1.95B | 2.01B | 2.09B | 2.11B | 2.12B |
| Shares Outstanding (Diluted) | 1.97B | 1.97B | 2.03B | 2.12B | 2.13B | 2.14B |
| EPS (Basic) | 1.09 | 0.98 | 0.75 | 0.78 | 0.57 | 0.65 |
| EPS (Diluted) | 1.08 | 0.97 | 0.74 | 0.77 | 0.56 | 0.65 |
| Free Cash Flow | 2.10B | 1.97B | 1.66B | 1.50B | 698.97M | 1.11B |
| Free Cash Flow Per Share | 1.06 | 1.00 | 0.82 | 0.71 | 0.33 | 0.52 |
| Gross Margin | 55.55% | 55.85% | 54.04% | 53.14% | 50.30% | 56.10% |
| Operating Margin | 30.51% | 30.67% | 27.46% | 27.90% | 25.14% | 32.53% |
| Profit Margin | 23.08% | 22.97% | 20.14% | 22.84% | 18.88% | 24.86% |
| Free Cash Flow Margin | 22.76% | 23.70% | 22.21% | 20.96% | 11.07% | 20.06% |
| EBITDA | 2.93B | 2.66B | 2.14B | 2.06B | 1.65B | 1.85B |
| EBITDA Margin | 31.82% | 32.05% | 28.53% | 28.87% | 26.11% | 33.44% |
| D&A For EBITDA | 120.22M | 114.44M | 80.43M | 68.90M | 61.24M | 50.16M |
| EBIT | 2.81B | 2.54B | 2.06B | 1.99B | 1.59B | 1.80B |
| EBIT Margin | 30.51% | 30.67% | 27.46% | 27.90% | 25.14% | 32.53% |
| Effective Tax Rate | 23.36% | 23.25% | 24.15% | 21.15% | 24.20% | 23.53% |
| Advertising Expenses | 599.90M | 584.10M | 528.90M | 460.70M | 417.60M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.19B | 2.09B | 1.53B | 2.30B | 1.31B | 1.33B |
| Short-Term Investments | 1.23B | 677.08M | 955.61M | 1.36B | 1.75B | |
| Cash & Short-Term Investments | 3.42B | 2.77B | 1.53B | 3.25B | 2.67B | 3.08B |
| Accounts Receivable | 1.90B | 1.62B | 1.22B | 1.19B | 1.02B | 896.00M |
| Receivables | 1.90B | 1.62B | 1.22B | 1.19B | 1.02B | 896.00M |
| Inventory | 867.67M | 799.62M | 737.11M | 971.41M | 935.63M | 593.36M |
| Prepaid Expenses | 148.69M | 103.55M | 107.26M | 116.19M | 109.82M | 82.67M |
| Other Current Assets | 67.03M | 74.64M | 42.20M | 58.77M | 34.75M | 33.89M |
| Total Current Assets | 6.41B | 5.36B | 3.64B | 5.59B | 4.76B | 4.68B |
| Property, Plant & Equipment | 1.10B | 1.08B | 1.05B | 949.64M | 554.91M | 336.91M |
| Long-Term Investments | 781.31M | 487.33M | 76.43M | 61.44M | 99.42M | |
| Goodwill | 1.33B | 1.33B | 1.33B | 1.42B | 1.42B | 1.33B |
| Other Intangible Assets | 1.38B | 1.38B | 1.41B | 1.43B | 1.22B | 1.07B |
| Long-Term Deferred Tax Assets | 189.43M | 188.65M | 184.26M | 175.00M | 177.04M | 225.22M |
| Other Long-Term Assets | 197.19M | 159.43M | 100.41M | 51.37M | 96.47M | 57.09M |
| Total Assets | 11.38B | 9.99B | 7.72B | 9.69B | 8.29B | 7.80B |
| Accounts Payable | 753.75M | 565.97M | 466.77M | 564.38M | 444.26M | 404.26M |
| Accrued Expenses | 833.32M | 787.99M | 580.93M | 521.30M | 487.88M | 482.00M |
| Current Portion of Leases | 24.42M | 16.19M | 17.54M | 8.50M | 4.95M | |
| Current Income Taxes Payable | 58.31M | 32.30M | 4.01M | 14.96M | 13.32M | 30.40M |
| Current Unearned Revenue | 47.70M | 45.32M | 45.81M | 41.91M | 43.31M | 42.53M |
| Other Current Liabilities | 1.61M | 4.70M | 932.00K | |||
| Total Current Liabilities | 1.72B | 1.45B | 1.10B | 1.16B | 1.00B | 965.08M |
| Long-Term Debt | 373.95M | |||||
| Long-Term Leases | 68.52M | 49.82M | 48.48M | 29.63M | 17.43M | |
| Long-Term Unearned Revenue | 151.34M | 159.99M | 179.01M | 204.25M | 223.80M | 243.25M |
| Other Long-Term Liabilities | 80.79M | 77.25M | 110.89M | 43.36M | 12.66M | 12.08M |
| Total Liabilities | 2.02B | 1.73B | 1.76B | 1.46B | 1.27B | 1.24B |
| Common Stock | 5.68M | 5.67M | 5.63M | 5.61M | 6.42M | 3.20M |
| Additional Paid-In Capital | 5.57B | 5.43B | 5.14B | 4.98B | 4.78B | 4.65B |
| Retained Earnings | 10.51B | 9.35B | 7.45B | 5.94B | 9.00B | 7.81B |
| Treasury Stock | -6.61B | -6.48B | -6.37B | -2.57B | -6.60B | -5.83B |
| Comprehensive Income & Other | -112.85M | -60.84M | -269.49M | -125.34M | -159.07M | -69.17M |
| Shareholders' Equity | 9.36B | 8.25B | 5.96B | 8.23B | 7.03B | 6.57B |
| Total Liabilities & Equity | 11.38B | 9.99B | 7.72B | 9.69B | 8.29B | 7.80B |
| Total Debt | 92.93M | 66.01M | 373.95M | 66.02M | 38.13M | 22.38M |
| Net Cash (Debt) | 3.33B | 2.70B | 1.16B | 3.19B | 2.63B | 3.05B |
| Net Cash Per Share | 1.68 | 1.37 | 0.57 | 1.51 | 1.23 | 1.43 |
| Filing Date Shares Outstanding | 1.96B | 1.96B | 1.95B | 2.08B | 2.09B | 2.12B |
| Total Common Shares Outstanding | 1.96B | 1.96B | 1.95B | 2.08B | 2.09B | 2.12B |
| Working Capital | 4.69B | 3.91B | 2.54B | 4.43B | 3.76B | 3.72B |
| Book Value Per Share | 4.78 | 4.22 | 3.06 | 3.95 | 3.36 | 3.10 |
| Tangible Book Value | 6.65B | 5.54B | 3.21B | 5.38B | 4.39B | 4.16B |
| Tangible Book Value Per Share | 3.39 | 2.83 | 1.65 | 2.58 | 2.10 | 1.97 |
| Land | 189.09M | 188.89M | 178.06M | 152.25M | 139.80M | 85.45M |
| Buildings | 444.13M | 410.19M | 280.66M | 211.95M | 163.88M | 148.97M |
| Machinery | 780.69M | 732.79M | 673.42M | 538.32M | 325.59M | 264.78M |
| Construction In Progress | 22.25M | 55.25M | 178.98M | 211.56M | 83.55M | 20.12M |
| Leasehold Improvements | 31.35M | 33.46M | 31.13M | 37.95M | 31.33M | 11.79M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 2.13B | 1.91B | 1.51B | 1.63B | 1.19B | 1.38B |
| Depreciation & Amortization | 120.22M | 114.44M | 80.43M | 68.90M | 61.24M | 50.16M |
| Loss (Gain) From Sale of Assets | 1.99M | 2.78M | 3.33M | 166.00K | -185.00K | -1.01M |
| Asset Writedown & Restructuring Costs | 48.16M | 50.44M | 135.28M | 43.04M | 2.20M | |
| Stock-Based Compensation | 135.80M | 125.69M | 90.98M | 68.84M | 64.11M | 70.48M |
| Other Operating Activities | 19.34M | 19.61M | 1.82M | -34.30M | 55.52M | 20.54M |
| Change in Accounts Receivable | -368.78M | -300.60M | -93.92M | -163.16M | -128.98M | -254.23M |
| Change in Inventory | -213.33M | -34.92M | 211.50M | 7.90M | -347.71M | -277.79M |
| Change in Accounts Payable | 266.33M | 78.46M | -61.49M | 112.79M | 49.77M | 114.30M |
| Change in Unearned Revenue | -20.88M | -23.00M | -17.36M | -24.47M | -19.91M | -22.66M |
| Change in Income Taxes | 404.00K | 6.68M | 12.50M | -17.09M | -21.30M | -3.70M |
| Change in Other Net Operating Assets | 121.84M | 153.17M | 56.40M | 24.16M | -18.68M | 82.19M |
| Operating Cash Flow | 2.24B | 2.10B | 1.93B | 1.72B | 887.70M | 1.16B |
| Capital Expenditures | -140.85M | -132.28M | -264.07M | -221.43M | -188.73M | -43.87M |
| Sale of Property, Plant & Equipment | 4.87M | 4.30M | 2.73M | 2.52M | 1.31M | 1.33M |
| Cash Acquisitions | -363.38M | -329.47M | ||||
| Sale (Purchase) of Intangibles | -16.42M | -25.25M | -42.36M | -13.30M | -23.43M | -13.59M |
| Investment in Securities | -1.73B | -1.16B | 1.04B | 409.02M | 405.29M | -924.54M |
| Other Investing Activities | -5.00M | -398.00K | 1.64M | -6.83M | -26.34M | -11.35M |
| Investing Cash Flow | -1.89B | -1.32B | 733.73M | -193.40M | -161.37M | -992.02M |
| Short-Term Debt Issued | 75.00K | |||||
| Long-Term Debt Issued | 750.00M | 2.93M | ||||
| Total Debt Issued | 750.00M | 75.00K | 2.93M | |||
| Short-Term Debt Repaid | -10.34M | -8.22M | -13.91M | |||
| Long-Term Debt Repaid | -375.00M | -375.00M | ||||
| Total Debt Repaid | -8.90M | -385.34M | -383.22M | -13.91M | ||
| Net Debt Issued (Repaid) | -8.90M | -385.34M | 366.78M | -13.91M | 75.00K | 2.93M |
| Issuance of Common Stock | 155.75M | 164.57M | 78.97M | 130.27M | 64.02M | 45.72M |
| Repurchase of Common Stock | -220.99M | -103.65M | -3.77B | -658.95M | -771.03M | -13.83M |
| Other Financing Activities | -2.90M | |||||
| Financing Cash Flow | -74.15M | -324.42M | -3.33B | -542.60M | -706.94M | 34.82M |
| Foreign Exchange Rate Adjustments | -10.75M | 97.85M | -97.62M | 8.78M | -38.72M | -52.49M |
| Net Cash Flow | 265.50M | 554.83M | -764.39M | 990.53M | -19.32M | 146.05M |
| Free Cash Flow | 2.10B | 1.97B | 1.66B | 1.50B | 698.97M | 1.11B |
| Free Cash Flow Margin | 22.76% | 23.70% | 22.21% | 20.96% | 11.07% | 20.06% |
| Free Cash Flow Per Share | 1.06 | 1.00 | 0.82 | 0.71 | 0.33 | 0.52 |
| Levered Free Cash Flow | 1.68B | 1.51B | 1.31B | 1.06B | 448.83M | 877.28M |
| Unlevered Free Cash Flow | 1.68B | 1.52B | 1.33B | 1.06B | 448.85M | 877.29M |
| Cash Interest Paid | 291.00K | 5.34M | 25.27M | 363.00K | 431.00K | 134.00K |
| Cash Income Tax Paid | 619.46M | 550.12M | 476.20M | -423.20M | 380.00M | 420.52M |
| Change in Working Capital | -214.42M | -120.21M | 107.64M | -59.87M | -486.81M | -361.89M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 94.07B | 74.91B | 51.12B | 59.94B | 53.01B | 50.82B |
| Enterprise Value | 90.75B | 72.39B | 50.30B | 56.98B | 50.40B | 47.90B |
| Last Close Price | 48.02 | 38.34 | 26.28 | 28.80 | 25.38 | 24.01 |
| PE Ratio | 44.46 | 39.31 | 33.87 | 36.75 | 44.49 | 36.89 |
| Forward PE | 39.13 | 35.17 | 29.17 | 32.67 | 35.45 | 34.12 |
| PS Ratio | 10.20 | 9.03 | 6.82 | 8.39 | 8.40 | 9.17 |
| PB Ratio | 10.05 | 9.07 | 8.58 | 7.28 | 7.55 | 7.74 |
| P/TBV Ratio | 14.14 | 13.51 | 15.91 | 11.13 | 12.09 | 12.21 |
| P/FCF Ratio | 44.84 | 38.10 | 30.71 | 40.06 | 75.84 | 45.70 |
| P/OCF Ratio | 42.02 | 35.70 | 26.50 | 34.89 | 59.72 | 43.97 |
| PEG Ratio | 3.45 | 2.09 | 2.51 | 1.82 | 3.63 | 3.15 |
| EV/Sales Ratio | 9.84 | 8.73 | 6.71 | 7.98 | 7.99 | 8.64 |
| EV/EBITDA Ratio | 30.94 | 27.23 | 23.53 | 27.65 | 30.58 | 25.85 |
| EV/EBIT Ratio | 32.26 | 28.45 | 24.45 | 28.61 | 31.76 | 26.57 |
| EV/FCF Ratio | 43.26 | 36.82 | 30.22 | 38.08 | 72.10 | 43.08 |
| Debt / Equity Ratio | 0.01 | 0.01 | 0.06 | 0.01 | 0.01 | 0.00 |
| Debt / EBITDA Ratio | 0.03 | 0.02 | 0.17 | 0.03 | 0.02 | 0.01 |
| Debt / FCF Ratio | 0.04 | 0.03 | 0.23 | 0.04 | 0.06 | 0.02 |
| Net Debt / Equity Ratio | -0.35 | -0.33 | -0.20 | -0.39 | -0.38 | -0.47 |
| Net Debt / EBITDA Ratio | -1.13 | -1.01 | -0.54 | -1.55 | -1.60 | -1.65 |
| Net Debt / FCF Ratio | -1.59 | -1.37 | -0.70 | -2.13 | -3.77 | -2.75 |
| Asset Turnover | 0.92 | 0.94 | 0.86 | 0.79 | 0.78 | 0.79 |
| Inventory Turnover | 5.37 | 4.77 | 4.03 | 3.51 | 4.10 | 5.25 |
| Quick Ratio | 3.10 | 3.03 | 2.51 | 3.82 | 3.68 | 4.12 |
| Current Ratio | 3.73 | 3.70 | 3.32 | 4.81 | 4.75 | 4.85 |
| Return on Equity (ROE) | 25.70% | 26.82% | 21.27% | 21.39% | 17.53% | 23.49% |
| Return on Assets (ROA) | 17.48% | 17.96% | 14.77% | 13.85% | 12.32% | 16.09% |
| Return on Invested Capital (ROIC) | 36.31% | 37.72% | 31.72% | 33.30% | 30.43% | 41.56% |
| Return on Capital Employed (ROCE) | 29.10% | 29.80% | 31.10% | 23.40% | 21.80% | 26.40% |
| Earnings Yield | 2.25% | 2.54% | 2.95% | 2.72% | 2.25% | 2.71% |
| FCF Yield | 2.23% | 2.62% | 3.26% | 2.50% | 1.32% | 2.19% |
| Buyback Yield / Dilution | -0.51% | 2.83% | 4.24% | 0.79% | 0.45% | -0.16% |