Monster Beverage (MNST)
Consumer Staples · $87.0B market cap · SEC CIK 0000865752
fundamentals score out of 100
Next reports on Nov 5, 2026, after the close, with analysts expecting $0.31 in earnings per share.
The case for MNST
- Revenue up 20.4% on the year.
- Generated $2.0B of free cash flow in FY2025, 24% of revenue.
- 23% of revenue drops through to net profit.
- Earnings per share up 34.6%.
- Has compounded revenue at 12.5% a year over five years.
- Return on equity of 25%.
The case against
- Pricey at 40.9× earnings, against a long-run market average nearer 20×.
- Price/sales of 9.4× is higher than 100% of Consumer Staples companies.
- Free-cash-flow yield of 2.3% is lower than 86% of Consumer Staples companies.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Staples companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 20 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 86 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 85 |
| Momentumhow the price has behaved lately | 64 |
| Stabilityhow violently it moves, what it owes and what it pays you | 85 |
- Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.
Key numbers
| Price / earnings | 40.9× |
|---|---|
| Price / book | 10.04× |
| Price / sales | 9.4× |
| Revenue growth (YoY) | +20.4% |
| EPS growth (YoY) | +34.6% |
| Gross margin | 56% |
| Operating margin | 29% |
| Net margin | 23% |
| Return on equity | 25% |
| Debt / equity | 0.00× |
| Current ratio | 3.73 |
| Dividend yield | none |
| Beta | 0.53 |
| 52-week range | $31.50 – $50.17 |
| Position in that range | 68% of the way up |
| 3-month return | -3.7% |
| 1-year return | +37.2% |
Five years of financials, as filed
Pulled from Monster Beverage's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $8.3B | $7.5B | $7.1B | $6.3B | $5.5B |
| Gross profit | $4.6B | $4.0B | $3.8B | $3.2B | $3.1B |
| Operating income | $2.4B | $1.9B | $2.0B | $1.6B | $1.8B |
| Operating cash flow | $2.1B | $1.9B | $1.7B | $888M | $1.2B |
| Capital expenditure | $132M | $264M | $221M | $189M | $43.9M |
| Total assets | $10.0B | $7.7B | $9.7B | $8.3B | $7.8B |
| Shareholder equity | $8.3B | $6.0B | $8.2B | $7.0B | $6.6B |
| Cash | $2.1B | $1.5B | $2.3B | $1.3B | $1.3B |
| Long-term debt | — | $374M | $0 | — | — |
| Free cash flow | $2.0B | $1.7B | $1.5B | $699M | $1.1B |
| Gross margin | 55.8% | 54.0% | 53.1% | 50.3% | 56.1% |
| Operating margin | 29.2% | 25.8% | 27.4% | 25.1% | 32.4% |
| Diluted shares | 984M | 1.0B | 1.1B | 1.1B | 1.1B |
Share count is down 8.1% over 4 years. Buybacks have been shrinking the pie.
What Monster Beverage says it does
_471503"> ITEM 1. BUSINESS When this report uses the words "the Company", "we", "us" and "our", these words refer to Monster Beverage Corporation and its subsidiaries, unless the context otherwise requires. Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business, except through its consolidated subsidiaries. The Company’s subsidiaries primarily develop and market energy drinks. Overview We develop, market, sell and distribute energy drink beverages and concentrates for energy drink beverages, primarily under the following brand names: ● ​ ​ ​ ​Monster Energy® ● ​ ​ ​ ​Monster Energy Ultra® ● ​ ​ ​ ​Rehab Monster® ● ​ ​ ​ ​Monster Energy®Nitro ● ​ ​ ​ ​Java Monster® ● ​ ​ ​…
Risk factors MNST lists in its 10-K
- Government Regulation and Litigation Risks
- Intellectual Property, Information Technology and Data Privacy and Security Risks
- Provisions in our organizational documents and control by insiders or TCCC may prevent changes in control even if such changes would be beneficial to other stockholders
- We currently derive most of our revenues from energy drinks, and competitive pressure in the energy drink category could adversely affect our business and operating results
- Criticism or negative perceptions of our products (regardless of accuracy) generally could adversely affect us
- Increased competition in the beverage industry and changing retail landscape could hurt our business
- Changes in consumer product and shopping preferences may reduce demand for our products
- Our continued expansion outside of the United States exposes us to uncertain conditions and other risks in international markets
- Our failure to accurately estimate demand for our products or maintain sufficient inventory levels or anticipate shortages of raw materials could adversely affect our business and financial results
- Our business is subject to seasonality, which may cause fluctuations in our operating results
- Global or regional catastrophic events could impact our operations and affect our ability to grow our business
- Failure to meet evolving corporate governance expectations or standards, including those related to sustainability matters, could expose us to increased costs, reputational harm, or other adverse consequences
- Our use of artificial intelligence technologies in our operations may expose us to risks
- Climate change and natural disasters may negatively affect our business