Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through four segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages. In addition, the company provides its products under the Monster Energy, Monster Energy Ultra, Rehab Monster, Monster Energy Nitro, Java Monster, Punch Monster, Juice Monster, Monster Tour Water, Reign Total Body Fuel, Reign Storm, Bang Energy, NOS, Full Throttle, Burn, Mother, Nalu, Ultra Energy, Play and Power Play, Relentless, BPM, BU, Samurai, Live+, Predator, and Fury brands. Further, it offers craft beers, flavored malt beverages,and hard seltzers under the Jai Alai IPA, Florida Man IPA, Dale's Pale Ale, Wild Basin Hard Seltzers, Dallas Blonde, Deep Ellum IPA, Perrin Brewing Company Black Ale, Hop Rising Double IPA, Wasatch Apricot Hefeweizen, The Beast, and Beast Tea, Blind Lemon, and Blinder Lemon brands. The company engages in the concentrates and/or beverage bases to authorized bottling, and canning operations. It sells its products to full-service beverage bottlers/distributors, retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, food service customers, value stores, e-commerce retailers, and the military. The company was formerly known as Hansen Natural Corporation and changed its name to Monster Beverage Corporation in January 2012. Monster Beverage Corporation was founded in 1985 and is headquartered in Corona, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $8.3B | $2.5B | $1.9B | $1.9B | 23.1% | 10.7% | 26.3% |
| 2024 | $7.5B | $2.0B | $1.5B | $1.6B | 25.3% | 4.9% | -7.5% |
| 2023 | $7.1B | $2.0B | $1.6B | $1.5B | 19.8% | 13.1% | 36.9% |
| 2022 | $6.3B | $1.6B | $1.2B | $676M | 17.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 6,311.05 | 7,140.03 | 7,492.71 | 8,294.34 |
| Operating Revenue | - | 6,311.05 | 7,140.03 | 7,492.71 | 8,294.34 |
| Cost Of Revenue | - | 3,136.48 | 3,345.82 | 3,443.83 | 3,662.15 |
| Gross Profit | - | 3,174.57 | 3,794.21 | 4,048.88 | 4,632.20 |
| Operating Expense | - | 1,589.85 | 1,840.85 | 2,118.58 | 2,212.84 |
| Total Expenses | - | 4,726.33 | 5,186.67 | 5,562.42 | 5,874.99 |
| Operating Income | - | 1,584.72 | 1,953.36 | 1,930.29 | 2,419.35 |
| Total Operating Income As Reported | - | 1,584.72 | 1,953.36 | 1,930.29 | 2,419.35 |
| EBITDA | - | 1,645.96 | 2,022.25 | 2,010.73 | 2,533.80 |
| Normalized EBITDA | - | 1,645.96 | 2,022.25 | 2,010.73 | 2,533.80 |
| EBIT | - | 1,584.72 | 1,953.36 | 1,930.29 | 2,419.35 |
| Net Interest Income | - | -12.76 | 115.13 | 59.16 | 63.18 |
| Other Non Operating Income Expenses | 3.95 | -12.76 | 115.13 | - | - |
| Other Income Expense | 3.95 | -12.76 | 115.13 | - | - |
| Net Non Operating Interest Income Expense | - | -12.76 | 115.13 | 59.16 | 63.18 |
| Pretax Income | - | 1,571.96 | 2,068.48 | 1,989.46 | 2,482.53 |
| Tax Provision | - | 380.34 | 437.49 | 480.41 | 577.10 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Net Income From Continuing And Discontinued Operation | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Net Income From Continuing Operation Net Minority Interest | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Net Income | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Net Income Common Stockholders | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Net Income Including Noncontrolling Interests | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Normalized Income | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Diluted NI Availto Com Stockholders | - | 1,191.62 | 1,630.99 | 1,509.05 | 1,905.43 |
| Basic Average Shares | - | 1,053.56 | 1,044.89 | 1,004.57 | 975.89 |
| Diluted Average Shares | - | 1,066.44 | 1,057.98 | 1,013.11 | 984.45 |
| Reconciled Depreciation | - | 61.24 | 68.90 | 80.43 | 114.44 |
| Reconciled Cost Of Revenue | - | 3,136.48 | 3,345.82 | 3,443.83 | 3,662.15 |
| Total Other Finance Cost | - | 12.76 | -115.13 | -59.16 | -63.18 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Monster Beverage Corporationthis co. | MNST | $86.6B | 45.45β premium | 10.49 | 23.1% | 33.23 |
| Altria Group, Inc. | MO | $117.9B | 16.97 | -33.66 | -198.4% | 12.84 |
| Mondelez International, Inc. | MDLZ | $78.3B | 31.94 | 3.03 | 9.5% | 19.71 |
| Colgate-Palmolive Company | CL | $68.1B | 31.94 | 1261.04 | 3948.1% | 19.05 |
| Target Corporation | TGT |
| - |
| - |
| - |
| - |
| - |
| - |
| $56.3B |
| 15.18 |
| 3.48 |
| 22.9% |
| 8.51 |
| Keurig Dr Pepper Inc. | KDP | $40.9B | 19.67 | 1.60 | 8.1% | 13.36 |
| Coca-Cola Europacific Partners PLC | CCEP | $40.7B | 20.98 | 5.20 | 24.8% | 13.40 |
| Archer-Daniels-Midland Company | ADM | $40.2B | 37.27 | 1.77 | 4.7% | 16.05 |
| The Kroger Co. | KR | $38.4B | 37.77 | 6.47 | 17.1% | 10.37 |
| Peer Median | - | 26.46 | 3.25 | 13.3% | 13.38 | |