Monster Beverage (MNST) financials

NASDAQ · Consumer Defensive · Beverages - Non-Alcoholic · 6,332 employees · CEO Hilton H. Schlosberg

Price: $47.34 +2.14%
Market cap: $92.7B
Enterprise value: $90.5B
Last report: Q2 '26 filed 2026-08-07
Next report: 2026-11-05 EPS est. $0.30

Revenue (TTM)$9.22B+20.4% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)29.2%+2.2 pp vs a year agoOperating income $2.69B

Net income (TTM)$2.13B+35.2% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$2.1B+14.0% vs a year agoCapex $141M

Diluted EPS (TTM)$1.09+34.8% vs a year agoSum of the last 4 quarters

Net cash$3.42B+65.0% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $92.7B
Revenue: $9.22B
Revenue growth: +18%
Profit margin: 23.1%
P/E: 43.4×
P/S: 10.1×
EV / EBITDA: 31.2×
Free cash flow: $2.1B
Net income: $2.13B
Revenue estimate: $9.76B
Earnings: 2026-11-05
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-08-06): revenue beat by 4.5%, EPS beat by 3.2%Revenue $2.54B vs $2.43B expected (+4.5%); EPS $0.30 vs $0.29 (+3.2%).
Revenue growth accelerating: 20.2% year on yearQ2 '26 revenue $2.54B, against an average of 18.1% over the four quarters before.
Operating margin 29.2% (TTM), +2.2 pp on a year agoOperating income grew 30.3% while revenue grew 20.4%.
Capex 1.5% of revenue (a year ago 2.8%)$141M invested in the last 4 quarters (-34.1% on a year earlier). Free cash flow $2.1B = 98.6% of net income.
Returned $221M to shareholders = 10.5% of free cash flowBuybacks $221M (a year earlier $554M), dividends $0, stock-based pay $136M (TTM).
Diluted share count up 0.5% in a year1.98B diluted shares in Q2 '26, 1.97B a year earlier.
Net cash $3.42BCash + short-term investments $3.42B, debt incl. leases $0; a year ago net cash $2.07B.

Last quarter: Q2 '26

Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q2 '26	Year ago	Change
Revenue	$2.54B	$2.11B	+20.2%
Gross margin	55.9%	55.7%	+0.2 pp
Operating income	$740M	$632M	+17.2%
Operating margin	29.2%	29.9%	-0.7 pp
Net income	$585M	$489M	+19.6%
Diluted EPS	$0.30	$0.25	+20.0%
Operating cash flow	$509M	$466M	+9.3%
Capex	$48.4M	$31.4M	+54.2%
Free cash flow	$461M	$435M	+6.0%
R&D	$0	$0	–
Stock-based compensation	$35.7M	$33.1M	+7.7%

Reported vs consensus

2026-08-06

	Actual	Consensus	vs consensus
Revenue	$2.54B	$2.43B	+4.5%
EPS (as estimated)	$0.30	$0.29	+3.2%

From the report of 2026-08-06 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q2 '26	y/y	Share	TTM	TTM y/y
Monster Energy Drinks	$2.36B	+21.6%	93.1%	$8.56B	+21.5%
Strategic Brands	$144M	+10.6%	5.7%	$511M	+15.4%
Alcohol Brands	$32.2M	-15.2%	1.3%	$127M	-13.9%

Revenue by region

share of total

Segment	Q2 '26	y/y	Share	TTM	TTM y/y
U.s. And Canada	$1.45B	+11.5%	57.2%	$5.4B	+13.0%
E M E A	$633M	+27.0%	24.9%	$2.24B	+35.0%
Latin America And Caribbean	$234M	+55.8%	9.2%	$840M	+29.6%
Asia Pacific	$219M	+35.4%	8.6%	$739M	+29.4%

Segment profits

Operating income per reported segment, read from the segment note of each 10-Q / 10-K (the profit split most data feeds leave out).

Segments in Q2 '26

Segment	Revenue	y/y	Operating income	y/y	Margin	Margin a year ago	TTM operating income
Monster Energy Drinks Segment	$2.36B	+21.6%	–	–	–	39.1%	–
Strategic Brands Segment	$144M	+10.6%	–	–	–	52.2%	–
Alcohol Brands Segment	$32.2M	-15.2%	–	–	–	-38.5%	–
All other segments	$5.43M	-15.3%	–	–	–	19.6%	–
Corporate (unallocated)	–	–	–	–	–	–	–

Operating income by segment

quarterly

Segment operating margin

quarterly

Fourth quarters are derived: the 10-K reports the full year, minus the three quarters of the 10-Qs.

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $2.24B
Capex: -$141M
Buybacks: -$221M
Dividends: $0
Acquisitions: $1.56M
Net debt issued: -$8.91M
Stock-based compensation: $136M
Free cash flow: $2.1B
Returned to shareholders / FCF: 10.5%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	43.4×	38.6×	35.0× – 44.9×
EV / EBITDA	31.2×	27.7×	24.6× – 31.9×
EV / Sales	9.8×	8.2×	6.9× – 8.9×
Price / FCF	44.2×	47.2×	31.7× – 79.2×
Price / Book	9.9×	8.1×	7.3× – 9.1×
FCF yield	2.3%	2.3%	1.3% – 3.2%
Return on invested capital	21.3%	19.7%	16.5% – 22.1%
Return on equity	25.0%	21.2%	17.0% – 25.3%

Analysts

Consensus target $84.68 (+78.9%)
range $50.00 – $104.00 · rating Buy

Strong buy1

Buy22

Hold18

Sell3

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$9.76B	+17.7%	$1.16	+19.5%	40.9×	10
FY2027	$10.7B	+9.6%	$1.31	+12.9%	36.2×	12
FY2028	$11.7B	+9.4%	$1.48	+12.9%	32.0×	8
FY2029	$12.9B	+10.1%	$1.66	+12.7%	28.4×	5
FY2030	$13.5B	+4.9%	$1.77	+6.2%	26.8×	5

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 224 figures Monster Beverage Corporation tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
Accounts Payable, Current	$754M	$489M	+54.1%	$566M	$467M	+21.3%
Accounts Receivable, after Allowance for Credit Loss, Current	$1.9B	$1.52B	+24.9%	$1.62B	$1.22B	+32.5%
Accrued Income Taxes, Current	$58.3M	$28.1M	+107.4%	$32.3M	$4.01M	+706.4%
Accrued Liabilities, Current	$336M	$259M	+29.6%	$306M	$221M	+38.6%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$372M	$338M	+10.0%	$339M	$295M	+14.8%
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	-$108M2025-12-31	-$270M	+60.0%	-$108M	-$270M	+60.0%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$113M	-$91.3M	-23.6%	-$60.8M	-$269M	+77.4%
Additional Paid in Capital, Common Stock	$5.57B	$5.29B	+5.4%	$5.43B	$5.14B	+5.6%
Amortization of Intangible Assets	$2.7M	$4.3M	-37.2%	$19.3M	$7.5M	+157.3%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	900K	7.2M	-87.5%	6.5M	7.8M	-16.7%
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax	$1.26M2025-12-31	–	–	$1.26M	–	–
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$35.2M	$31.8M	+10.5%	$121M	$90.9M	+33.6%
Assets	$11.4B	$8.73B	+30.4%	$9.99B	$7.72B	+29.4%
Assets, Current	$6.41B	$4.43B	+44.6%	$5.36B	$3.64B	+47.2%
Basic Earnings Per Share, Pro Forma	$0.30	$0.25	+20.0%	–	–	–
Business Combination, Consideration Transferred, Liabilities Incurred	–	–	–	$45.4M2023-12-31	–	–
Capital Expenditures Incurred but Not yet Paid	$700K2026-03-31	$4M	-82.5%	$4.7M2016-12-31	$600K	+683.3%
Cash and Cash Equivalents, at Carrying Value	$2.19B	$1.93B	+13.8%	$2.09B	$1.53B	+36.2%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$2.19B	$1.93B	+13.8%	$2.09B	$1.53B	+36.2%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	$153M	$23.5M	+549.7%	$555M	-$764M	+172.6%
Common Stock, Par or Stated Value Per Share	$0.01	$0.01	0.0%	$0.01	$0.01	0.0%
Common Stock, Shares Authorized	5B	5B	0.0%	5B	5B	0.0%
Common Stock, Shares, Issued	1.14B	1.13B	+0.5%	1.13B	1.13B	+0.6%
Common Stock, Shares, Outstanding	979M	976M	+0.3%	978M	973M	+0.5%
Common Stock, Value, Outstanding	$5.68M	$5.65M	+0.5%	$5.67M	$5.63M	+0.6%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$541M	$600M	-9.9%	$2.11B	$1.36B	+54.9%
Contract with Customer, Liability	$199M	$219M	-9.1%	$205M	$225M	-8.7%
Contract with Customer, Liability, Current	$47.7M	$49.3M	-3.2%	$45.3M	$45.8M	-1.1%
Contract with Customer, Liability, Noncurrent	$151M	$170M	-10.8%	$160M	$179M	-10.6%
Contract with Customer, Liability, Revenue Recognized	$10M	$10M	0.0%	$40M	$39.9M	+0.3%
Contractual Obligation	$747M	$491M	+52.0%	$570M	$475M	+20.1%
Contractual Obligation, to be Paid, after Year Five	$437K2025-12-31	$95K	+360.0%	$437K	$95K	+360.0%
Contractual Obligation, to be Paid, Year Five	$10.4M2025-12-31	$38.2M	-72.8%	$10.4M	$38.2M	-72.8%
Contractual Obligation, to be Paid, Year Four	$48.9M2025-12-31	$39.7M	+23.1%	$48.9M	$39.7M	+23.1%
Contractual Obligation, to be Paid, Year One	$318M2025-12-31	$258M	+23.3%	$318M	$258M	+23.3%
Contractual Obligation, to be Paid, Year Three	$75.5M2025-12-31	$44.3M	+70.7%	$75.5M	$44.3M	+70.7%
Contractual Obligation, to be Paid, Year Two	$117M2025-12-31	$94.5M	+23.8%	$117M	$94.5M	+23.8%
Cost of Goods and Services Sold	$1.12B	$935M	+19.5%	$3.66B	$3.44B	+6.3%
Current Federal Tax Expense (Benefit)	–	–	–	$308M	$274M	+12.5%
Current Foreign Tax Expense (Benefit)	–	–	–	$203M	$145M	+39.7%
Current Income Tax Expense (Benefit)	–	–	–	$573M	$474M	+20.8%
Current State and Local Tax Expense (Benefit)	–	–	–	$61.9M	$55.1M	+12.4%
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	–	–	–	$1.05M2024-12-31	–	–
Debt Securities, Available-for-sale	$2.01B	$283M	+608.8%	$1.16B	–	–
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$1K	$210K	-99.5%	$1.26M	–	–
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$5.92M	$0	–	$0	–	–
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$02025-12-31	–	–	$0	–	–
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	$5.92M	$0	–	$0	–	–
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss	$2.01B	$283M	+611.4%	$1.16B	–	–
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$304K	$11.4M	-97.3%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	-$1.31M	-$12.8M	+89.8%
Deferred Income Tax Assets, Net	$189M	$185M	+2.5%	$189M	$184M	+2.4%
Deferred Income Tax Expense (Benefit)	–	–	–	-$2.23M	-$2.28M	+1.9%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	-$1.23M	-$900K	-36.4%
Deferred Tax Assets, Deferred Income	$48.2M2025-12-31	$53.8M	-10.4%	$48.2M	$53.8M	-10.4%
Deferred Tax Assets, Gross	$382M2025-12-31	$364M	+4.9%	$382M	$364M	+4.9%
Deferred Tax Assets, Inventory	$11.3M2025-12-31	$13.3M	-14.5%	$11.3M	$13.3M	-14.5%
Deferred Tax Assets, Net	$135M2025-12-31	$137M	-1.9%	$135M	$137M	-1.9%
Deferred Tax Assets, Operating Loss Carryforwards	$25.6M2025-12-31	$33.2M	-22.7%	$25.6M	$33.2M	-22.7%
Deferred Tax Assets, Other	$81.2M2025-12-31	$76.6M	+6.0%	$81.2M	$76.6M	+6.0%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30

Data as of 2026-11-01