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. In the quarter to June 2026, revenue grew 20.2%, EPS grew 20.0% and free cash flow grew 8.01%, each against the same quarter a year earlier. Member of the S&P 500 and Nasdaq 100; revenue growth for ten consecutive years, operating cash flow growth for three.
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Monster Beverage Corporation (MNST) Altman Z-score
Monster Beverage Corporation's Altman Z-score for fiscal 2025 is 29.29, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 29.29 | 7.76 |
| FY2024 | 21.53 | (6.06) |
| FY2023 | 27.59 | (1.18) |
| FY2022 | 28.76 | 0.70 |
| FY2021 | 28.06 | (3.68) |
| FY2020 | 31.73 | 7.15 |
| FY2019 | 24.58 | 3.31 |
| FY2018 | 21.27 | (5.52) |
| FY2017 | 26.79 | 5.22 |
| FY2016 | 21.57 | (2.64) |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.39 | — | 0.47 | |
| Retained earnings / total assets | 0.94 | — | 1.31 | |
| EBIT / total assets | 0.24 | — | 0.80 | |
| Market value of equity / total liabilities | 43.13 | — | 25.88 | |
| Sales / total assets | 0.83 | — | 0.83 | |
| Altman Z-score | Safe zone | 29.29 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 12.25 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MNST Monster Beverage Corporation | 29.3× |
| COCO Vita Coco Company, Inc. compare | 17.4× |
| KO CocaCola Company (The) compare | 4.6× |
| COKE Coca-Cola Consolidated, Inc. compare | 3.8× |
| PEP PepsiCo, Inc. compare | 3.5× |
| KOF Coca Cola Femsa S.A.B. de C.V. compare | 3.3× |
| CELH Celsius Holdings Inc. compare | 2.6× |
| CCEP Coca-Cola Europacific Partners compare | 2.4× |
| KDP Keurig Dr Pepper, Inc compare | 1.4× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets
More on MNST
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement