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Monster Beverage Corporation

MNST Consumer Defensive Beverages Non Alcoholic

Monster Beverage Corporation’s revenue for fiscal 2025 (year ended December 2025) was $8.3 billion, up 10.7% from fiscal 2024.

Revenue
+20.2%
EPS
+20.0%
Free cash flow
+8.01%

Quarter to June 2026, against a year earlier

47.90 0.85 −1.74%
Market cap
$93.7B
P/E
43.9×
Fwd P/E
41.2×
Dividend yield
—
F-score
9/9
Altman Z
29.29
Beneish M
−2.29
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2025

  • Monster Energy Drinks
  • Strategic Brands
  • Alcohol Brands
  • Other

Every year since 2016 →

Insider Decisions last twelve months

Sold, $m 33.47
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 2 — — 1 — 3 1 — — — — —
Insider Ownership 28.98%

Capital & Financial Ratios $m

Size
Market Cap 93,700.00
Revenue ttm 9,218.96
Net income ttm 2,127.67
Free cash flow ttm 2,086.37
Net debt Q (3,419.26)
Valuation
P/E 43.95 (above 35: high)
Forward P/E 41.20 (above 35: high)
Price / sales 10.17 (above 10: high)
Forward P/S Powerpack
Price / FCF 44.94
Price / book 10.01 (above 6: high)
Financial health
Current ratio Q 3.73 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (21.63)
Growth
Revenue growth Q +20.17% (above 0%: growing)
Operating income growth Q +17.23% (above 0%: growing)
EPS, this year +12.51%
EPS, next year A +12.90%
Revenue, next year A +17.37% (at or above 10%: strong)
EPS, past 5 yrs +8.01%
EPS, next 5 yrs A +12.75%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.8×, against a ten-year median of 8.3×; over the ten years it ranged from 6.4× in 2025 to 11.1× in 2018.
P/E against its own 10 years 87.64%
10-year low 10-year high
P/S against its own 10 years 87.83%
10-year low 10-year high
P/B against its own 10 years 95.64%
10-year low 10-year high
EV/Sales against its own 10 years 88.27%
10-year low 10-year high
EV/FCF against its own 10 years 84.89%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 3,253 1,533 2,765 3,419
Receivables 1,194 1,222 1,618 1,902
Inventory 971 737 800 868
Other — — — —
5,589 3,642 5,361 6,405
2023 2024 2025 Q'26
Payables 564 467 566 754
ST’ Debt — — — —
Other — — — —
1,162 1,098 1,448 1,717

Compound Annual Growth %

10y 5y 3y
Sales 11.78% 12.52% 9.54%
Cash Flow 14.91% 8.99% 33.21%
Earnings 13.30% 6.21% 16.94%
Book Value 5.55% 9.85% 5.52%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.29 Actual 0.30

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 0.24 0.28 Beat by 0.04
Q4 FY25 0.25 0.25 Met by 0.00
Q1 FY26 0.26 0.29 Beat by 0.03
Q2 FY26 0.29 0.30 Beat by 0.01
Q3 FY26 0.30 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 0.29 0.30 — — —
’25 0.23 0.25 0.27 0.23 0.97
’24 0.21 0.21 0.19 0.14 0.75
’23 0.19 0.20 0.22 0.18 0.77
’22 0.14 0.13 0.15 0.14 0.56
’21 0.15 0.19 0.16 0.15 0.64
’20 0.13 0.15 0.16 0.22 0.66
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 2,353 2,537 — — —
’25 1,855 2,112 2,197 2,131 8,294
’24 1,899 1,901 1,881 1,812 7,493
’23 1,699 1,855 1,856 1,730 7,140
’22 1,519 1,655 1,624 1,513 6,311
’21 1,244 1,462 1,411 1,425 5,541
’20 1,062 1,094 1,246 1,196 4,599
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 605 509 — — —
’25 508 466 745 379 2,098
’24 412 436 618 462 1,929
’23 424 339 520 434 1,718
’22 0 131 459 299 888
’21 175 411 341 228 1,156
’20 191 249 509 415 1,364
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 582 460 — — —
’25 474 426 698 347 1,945
’24 338 379 557 350 1,625
’23 381 295 490 320 1,486
’22 (30) 52 428 227 677
’21 160 402 334 204 1,100
’20 173 225 490 410 1,298
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 16.9% a year for ten years. It grew 23.8% a year over the last ten.

Implied
16.9%
10 years, reported
23.8%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 3,049 3,369 3,807 4,201 4,599 5,541 6,311 7,140 7,493 8,294 9,219 +11.8% 9,735 10,671 11,642 +12.0%
Gross margin, % 63.68 63.45 60.29 59.95 59.23 56.10 50.30 53.14 54.04 55.85 55.55 (7.8) pt
EBT 1,080 1,202 1,293 1,416 1,626 1,801 1,572 2,068 1,989 2,483 2,776 +9.7%
EBT margin, % 35.41 35.67 33.97 33.71 35.36 32.51 24.91 28.97 26.55 29.93 30.11 (5.5) pt
Net income 713 821 993 1,108 1,410 1,377 1,192 1,631 1,509 1,905 2,128 +11.5%
Per share, $
Per share, $ Revenue 1.30 1.49 1.71 1.94 2.17 2.62 3.00 3.42 3.73 4.25 4.71 +14.1%
Earnings 0.30 0.36 0.45 0.51 0.67 0.65 0.57 0.78 0.75 0.98 1.09 +13.9%
Cash flow 0.30 0.44 0.52 0.51 0.64 0.55 0.42 0.82 0.96 1.08 1.14 +15.3%
Capex (0.34) (0.04) (0.03) (0.05) (0.03) (0.03) (0.10) (0.11) (0.15) (0.08) (0.08) (15.0%)
Free cash flow (0.04) 0.40 0.49 0.46 0.61 0.52 0.32 0.71 0.81 1.00 1.07 n/m
Book value 1.42 1.72 1.62 1.92 2.44 3.10 3.33 3.94 2.97 4.23 4.78 +12.9%
Shares, m 2,351 2,267 2,229 2,169 2,119 2,115 2,107 2,090 2,009 1,952 1,955 (2.0%)
Valuation, ×
Valuation, × P/E 37.54 43.26 27.82 31.16 34.77 36.80 44.63 37.56 35.28 39.32 43.95 36.8
P/S 8.78 10.55 7.21 8.20 10.65 9.16 8.46 8.58 7.05 9.02 10.17 8.8
P/B 8.04 9.13 7.60 8.26 9.49 7.73 7.60 7.44 8.86 9.07 10.01 8.3
EV/Sales 8.59 10.19 6.95 7.89 10.21 8.61 8.04 8.13 6.89 8.71 9.82 8.4
EV/FCF (285.68) 38.33 24.26 33.00 36.16 43.40 74.95 39.05 31.78 37.16 43.39 7.2
Cash, $m
Cash, $m Operating cash flow 701 988 1,162 1,114 1,364 1,156 888 1,718 1,929 2,098 2,239 +12.9%
Capex (793) (92) (71) (109) (66) (56) (211) (232) (304) (153) (152) (16.7%)
Free cash flow (92) 896 1,091 1,005 1,298 1,100 677 1,486 1,625 1,945 2,086 n/m
Balance, $m
Balance, $m Working capital 962 1,526 1,203 1,655 2,391 3,717 3,763 4,427 2,544 3,913 4,688 +16.9%
Net debt (598) (1,202) (958) (1,306) (2,046) (3,059) (2,639) (3,253) (1,159) (2,765) (3,419) +18.5%
Shareholders’ equity 3,330 3,895 3,611 4,171 5,161 6,567 7,025 8,229 5,958 8,254 9,364 +10.6%
Returns, %
Returns, % ROA 14.66 18.35 21.31 22.90 24.83 19.67 14.80 18.14 17.34 21.52 21.16 +6.9 pt
ROIC 24.83 27.82 30.24 30.60 32.77 32.03 22.58 24.54 25.14 27.55 28.26 +2.7 pt
ROE 17.51 22.72 26.46 28.47 30.21 23.49 17.53 21.38 21.27 26.81 25.70 +9.3 pt
People
People Employees 1,836 2,114 3,142 3,529 3,666 4,092 5,296 6,003 6,558 6,891 — +15.8%
Revenue/emp, $m 1.66 1.59 1.21 1.19 1.25 1.35 1.19 1.19 1.14 1.20 — (3.5%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Business profile

Updated

Monster Beverage Corporation develops, markets, sells and distributes energy drinks and the concentrates used to make them. Its brands include Monster Energy, Monster Energy Ultra, Reign, Bang Energy, NOS and Predator. The company also sells alcoholic beverages, including craft beer, flavored malt beverages and hard seltzers.

Monster sells most of its packaged energy drinks to beverage bottlers and distributors. Those customers then supply retailers and other outlets. Monster also sells some drinks directly to grocery chains, convenience stores, wholesalers, club stores, online retailers and other customers. Its alcohol products are sold primarily to beer distributors in the United States.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by segment, and margins
Monster Energy Drinks 7,666 92.42%
Strategic Brands 469 5.65%
Alcohol Brands 135 1.62%
Other 25 0.30%
Gross margin 55.85%
Operating margin 29.17%
Pre-tax margin 29.93%

Revenue by segment since 2016

Monster Beverage Corporation vs peers in Beverages Non Alcoholic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
KO CocaCola Company (The) $411.8B 28.1× 27.5× +7.43% (above 0%: growing) +9.60% (above 0%: growing) +0.28% (above 0%: growing) 63.15% 33.37% Compare
PEP PepsiCo, Inc. $194.5B 17.9× 16.5× +5.59% (above 0%: growing) +17.37% (above 0%: growing) +1,051.60% (above 0%: growing) 54.42% 16.86% Compare
MNST Monster Beverage Corporation $93.7B 43.9× 41.2× +20.17% (above 0%: growing) +20.00% (above 0%: growing) +8.01% (above 0%: growing) 55.95% 29.18%
CCEP Coca-Cola Europacific Partners $51.5B 16.0× 23.3× +36.01% (above 0%: growing) +209.23% (above 0%: growing) −33.36% (below 0%: shrinking) 35.80% 0.00% Compare
KDP Keurig Dr Pepper, Inc $50.2B 30.8× 23.5× +70.55% (above 0%: growing) +42.78% (above 0%: growing) +91.29% (above 0%: growing) 48.00% 18.15% Compare
COKE Coca-Cola Consolidated, Inc. $14.1B 28.1× — (loss-making) +5.36% (above 0%: growing) +11.16% (above 0%: growing) −34.73% (below 0%: shrinking) 38.78% 13.65% Compare
CELH Celsius Holdings Inc. $7.6B 33.7× 24.4× +16.84% (above 0%: growing) n/m −60.28% (below 0%: shrinking) 46.77% 20.31% Compare
KOF Coca Cola Femsa S.A.B. de C.V. $6.0B 16.4× 17.2× +19.57% (above 0%: growing) +20.01% (above 0%: growing) −24.76% (below 0%: shrinking) 46.52% 14.89% Compare
COCO Vita Coco Company, Inc. $3.6B 30.2× 28.5× +33.74% (above 0%: growing) +45.24% (above 0%: growing) +54.92% (above 0%: growing) 38.01% 18.64% Compare
Median of peers $32.2B 28.1× 23.5× +18.21% +20.01% −12.24% 46.65% 17.50%

All 19 Beverages Non Alcoholic stocks →

From the latest earnings call

Updated

  • Hilton Schlosberg said demand supported double-digit sales growth across geographic regions, while the company continued to expand product offerings and distribution.
  • Schlosberg said Monster expects aluminum costs to rise modestly sequentially through at least year-end and is discussing selective U.S. pricing actions for the fourth quarter.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 67.50%
Held by the ten largest 33.27%
Holder Shares Stake Change
Vanguard 68.16m 6.96% −264.05k
BlackRock 60.03m 6.13% −2.97m
State Street 36.08m 3.68% −1.85m
Invesco 32.69m 3.34% −1.16m
JPMorgan Chase 29.72m 3.03% +1.34m
Natixis Investment Managers 27.11m 2.77% −978.20k
AllianceBernstein 27.06m 2.76% −1.74m
Geode Capital Management 20.32m 2.07% −248.04k
Bank of America 12.44m 1.27% −96.34k
Morgan Stanley 12.31m 1.26% +464.83k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Monster Beverage Corporation (MNST) Latest News

6 Nov

Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · GlobeNewswire

29 Oct

Impact 3 · · The Motley Fool
Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

28 Oct

Impact 4 · · The Motley Fool
Impact 3 · · Trefis
Impact 3 · · 24/7 Wall St.

26 Oct

Impact 3 · · Barchart

23 Oct

Impact 3 · · StockStory
Impact 3 · · Zacks

21 Oct

Impact 3 · · Simply Wall St.

20 Oct

Impact 4 · · Zacks

15 Oct

Impact 3 · · The Motley Fool

14 Oct

Impact 3 · · Zacks

11 Oct

Impact 3 · · Simply Wall St.

8 Oct

Impact 4 · · Zacks
Impact 3 · · Trefis

7 Oct

Impact 3 · · Simply Wall St.

5 Oct

Impact 3 · · Zacks

4 Oct

Impact 4 · · The Motley Fool

2 Oct

Impact 3 · · The Motley Fool

29 Sep

Impact 3 · · The Motley Fool

28 Sep

Impact 4 · · The Motley Fool
Impact 4 · · TIKR
Impact 3 · · just-drinks.com
Impact 3 · · StockStory

26 Sep

Impact 4 ·

MNST metrics, ten years each

stockrow.com/MNST · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com