Overview
Monster Beverage Corp
Latest 10-K: FY2025, filed Feb 27, 2026 · Open the 10-K (Inline XBRL) ↗
- Revenue
- $8.29B
- 10.7%YoYup from FY2024
- TotalRevenue
- Gross profit
- $4.63B
- 14.4%YoYup from FY2024
- GrossProfit
- Operating income
- $2.42B
- 25.3%YoYup from FY2024
- OperatingIncome
- Net income
- $1.91B
- 26.3%YoYup from FY2024
- NetIncome
- Diluted shares
- 984.5M
- 2.8%YoYdown from FY2024
- WeightedAvgSharesDiluted
At a glance
Growth
- Monster Beverage Corp reported revenue of $8.29B for fiscal 2025, up 10.7% from fiscal 2024.
- Revenue grew faster than the median S&P 500 member in 5 of the last 5 fiscal years.
Profitability
- Operating margin was 29.2% and net margin was 23.0%, against a median net margin of 12.8% across S&P 500 members for the same fiscal year.
Written from the filed figures on this page by fixed rules — no AI.
Data as of Nov 2, 2026 · Sources: SEC EDGAR 10-K
Financial statements
Annual figures from the 10-K, most recent fiscal year first.
Income Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Revenue | $8.29B10.7%up Benchmark median 6.4% | $7.49B4.9%up Benchmark median 4.5% | $7.14B13.1%up Benchmark median 4.8% | $6.31B13.9%up Benchmark median 10.3% | $5.54B20.5%up Benchmark median 13.8% | 10.6% Benchmark median 6.6% |
| Gross Profit Median of 315 / 498 | $4.63B14.4%up Benchmark median 6.8% | $4.05B6.7%up Benchmark median 5.5% | $3.79B19.5%up Benchmark median 5.2% | $3.17B2.1%up Benchmark median 8.3% | $3.11B14.1%up Benchmark median 15.7% | 10.5% Benchmark median 6.2% |
| Operating Income Median of 373 / 498 | $2.42B25.3%up Benchmark median 7.3% | $1.93B1.2%down Benchmark median 7.4% | $1.95B23.3%up Benchmark median 4.9% | $1.58B11.8%down Benchmark median 7.5% | $1.80B10.1%up Benchmark median 23.5% | 7.7% Benchmark median 7.2% |
| Net Income | $1.91B§26.3%up Benchmark median 4.8% | $1.51B§7.5%down Benchmark median 5.7% | $1.63B§36.9%up Benchmark median 1.9% | $1.19B§13.5%down Benchmark median 1.3% | $1.38B§2.3%down Benchmark median 33.9% | 8.4% Benchmark median 4.1% |
| EPS (Diluted) | — | — | — | — | —‡ | — Benchmark median 5.6% |
§ Net income available to common stockholders; the company files no net-income line.
‡ Share basis changed between these years (stock split or reverse split).
Balance Sheet
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Total Assets | $9.99B29.4%up Benchmark median 5.6% | $7.72B20.3%down Benchmark median 3.4% | $9.69B16.8%up Benchmark median 4.1% | $8.29B6.3%up Benchmark median 2.2% | $7.80B25.8%up Benchmark median 6.7% | 6.4% Benchmark median 4.7% |
| Total Liabilities Median of 357 / 498 | — | — | — | — | — | — Benchmark median 4.4% |
| Stockholders' Equity | $8.25B38.5%up Benchmark median 6.8% | $5.96B27.6%down Benchmark median 5.4% | $8.23B17.1%up Benchmark median 7.3% | $7.03B7.0%up Benchmark median 2.5% | $6.57B27.2%up Benchmark median 9.0% | 5.9% Benchmark median 6.1% |
| Cash & Equivalents | $2.09B36.2%up Benchmark median 5.2% | $1.53B33.3%down Benchmark median 1.9% | $2.30B75.8%up Benchmark median 6.7% | $1.31B1.5%down Benchmark median -8.6% | $1.33B12.4%up Benchmark median -2.9% | 12.0% Benchmark median 2.0% |
| Total Debt | — | $373.95M† Benchmark median 0.2% | — | — | — | — Benchmark median 4.3% |
† Sum of short-term and long-term debt; the company files no total-debt line.
Cash Flow Statement
5 annual periodsChip: YoY change.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | 4Y CAGR |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $2.10B8.8%up Benchmark median 6.3% | $1.93B12.3%up Benchmark median 4.8% | $1.72B93.5%up Benchmark median 9.9% | $0.89B23.2%down Benchmark median -0.7% | $1.16B15.3%down Benchmark median 10.7% | 16.1% Benchmark median 7.0% |
| Capital Expenditures | $132.28M49.9%down Benchmark median 5.4% | $264.07M19.3%up Benchmark median 2.8% | $221.43M17.3%up Benchmark median 11.3% | $188.73M330.2%up Benchmark median 14.0% | $43.87M10.0%down Benchmark median 8.1% | 31.8% Benchmark median 9.0% |
| Free Cash Flow Median of 378 / 498 | $1.97B18.1%up Benchmark median 7.3% | $1.66B11.2%up Benchmark median 6.1% | $1.50B114.1%up Benchmark median 8.8% | $0.70B37.1%down Benchmark median -11.3% | $1.11B15.5%down Benchmark median 10.2% | 15.3% Benchmark median 4.9% |
n/m: not meaningful — the base (the prior year, or the first year for the CAGR) was zero or negative, or a per-share figure’s share basis changed (stock split). “—” means the figure is not available.
Benchmark median = median of the companies in the S&P 500 on Dec 31 of each fiscal year, from their own 10-K filings; a change counts only companies whose prior year was positive. Each median uses every member that reports the line item; where fewer than 80% do (banks and insurers file no gross profit), the row names how many. Published where at least 250 companies report it. Updated 2026-10-27. This compares reported figures, not share-price returns. Methodology
Ratios & valuation
FY2025Every ratio read two ways: Wall Street’s popular formula and the value investor’s stricter one. Same question, same unit. Pick a ratio.
Valuation · Earnings yield
What a dollar of market value earned
— Not reported
Wall Street
on net earnings
FY2024 — Not reported
2.6%
Value investor
on free cash flow
FY2024 3.1%
How it’s calculated
Wall Street · on net earnings
Diluted EPS ÷ fiscal-year-end share price (1 ÷ P/E)
pe_ratio (ratio table)
Value investor · on free cash flow
(Operating cash flow − capital expenditures) ÷ market capitalisation (fiscal-year-end close × weighted-average diluted shares)
free cash flow ÷ market cap
Valuation · Book yield
Net assets behind a dollar of market value
10.9%
Wall Street
on book equity
FY2024 11.2%
7.3%
Value investor
on tangible book
FY2024 6.0%
Gap −3.6 pts: Value-investor figure 3.6 points lower
How it’s calculated
Wall Street · on book equity
Book value of equity ÷ market capitalisation (1 ÷ P/B)
pb_ratio (ratio table)
P/B 9.1×Value investor · on tangible book
Tangible book value (equity less goodwill and intangibles) ÷ market capitalisation
tangible_book_value_per_share ÷ (pb_ratio × book_value_per_share)
Quality · Return on capital
Profit earned on the money in the business
26.8%
Wall Street
ROE: net income ÷ equity
FY2024 21.3%
32.3%
Value investor
ROIC: after-tax operating profit ÷ invested capital
FY2024 28.8%
Gap +5.5 pts: Value-investor figure 5.5 points higher
How it’s calculated
Wall Street · ROE: net income ÷ equity
Net income ÷ average stockholders' equity (start and end of year), including noncontrolling interests. Buybacks shrink equity and lift it.
return_on_equity (ratio table)
Value investor · ROIC: after-tax operating profit ÷ invested capital
Operating profit after tax ÷ invested capital (total assets − cash − non-interest-bearing current liabilities), so leverage cannot flatter it
roic (ratio table)
Quality · Cash margin
Cash profit kept from each dollar of sales
30.5%
Wall Street
EBITDA margin
FY2024 26.8%
23.7%
Value investor
Free-cash-flow margin
FY2024 22.2%
Gap −6.8 pts: Value-investor figure 6.8 points lower
How it’s calculated
Wall Street · EBITDA margin
EBITDA ÷ revenue
ebitda ÷ revenue
Value investor · Free-cash-flow margin
(Operating cash flow − capital expenditures) ÷ revenue: taxes, interest, working capital and capex all paid
free cash flow ÷ revenue
Balance sheet · Liquidity
Short-term assets per dollar of bills due within a year
3.70×
Wall Street
Current ratio
FY2024 3.32×
3.15×
Value investor
Quick ratio, inventory excluded
FY2024 2.65×
Gap −0.55×: Value-investor figure 0.55 lower
How it’s calculated
Wall Street · Current ratio
Current assets ÷ current liabilities
current_ratio (ratio table)
Value investor · Quick ratio, inventory excluded
(Current assets − inventory) ÷ current liabilities
quick_ratio (ratio table)
Each ratio measures one thing two ways, in the same unit: the popular formula, then a stricter one, so a lower figure is the stricter reading. Gap = value-investor figure minus Wall Street figure, from the figures shown.
Price-based ratios use the fiscal-year-end closing price. Free cash flow = operating cash flow − capital expenditures (we compute it; filings rarely report it). n/m = not meaningful (denominator ≤ 0); “—” = not reported. Each ratio’s formulas are under “How it’s calculated”.
Smart money
Showing the most recent 5 annual periods. Get longer history on the Pro plan, or the full history (1993–present) plus the smart-money dataset and webhooks on Institutional.
Peers, filings & research
Research Reports
No published research on MNST yet.
Reports appear here as analysts publish research on this company — built with Valuein's agentic workflows on data pinned to its SEC filing. Be the first: run equity_research_brief on MNST and publish the result to your public profile.
Cite this page
Data as of Nov 2, 2026. Canonical address: https://valuein.biz/data/MNST
Valuein. (2026, November 2). Monster Beverage Corp (MNST) financial statements, earnings power and smart-money summary [Data set]. Source: SEC EDGAR filings. https://valuein.biz/data/MNST
@misc{valuein_mnst_2026,
author = {{Valuein}},
title = {Monster Beverage Corp (MNST) financial statements, earnings power and smart-money summary},
year = {2026},
howpublished = {\url{https://valuein.biz/data/MNST}},
note = {Data as of 2026-11-02; source: SEC EDGAR filings}
}10-K filed Feb 27, 2026 · accession 0001104659-26-020831
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