MNST

MKT CAP:$76B

Monster Beverage Corporation

Market Cap

$76B

Consumer Defensive·Beverages - Non-Alcoholic·🇺🇸 United States·NASDAQ

Consumer Def.·Beverages·🇺🇸·NASDAQ

Stock Price

$77.68+$1.52 (+1.99%)

Apr 24, 2026

Company Details

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 three segmen...

CEO

Hilton H. Schlosberg

IPO Date

Dec 9, 1985

Website

www.monsterbevcorp.com

Key Metrics TTM

Revenue

$8.3B

+10.7% YoY

Net Income

$1.9B

EPS (Diluted)

$1.94

Free Cash Flow

$2.0B

Revenue / Share

$8.41

Gross Margin

55.8%

Operating Margin

29.2%

Net Margin

23.0%

FCF Margin

23.7%

P/S

9.2x

P/E

39.9x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 26, 2026

$8.3B+10.7%EPS $1.94

Q4 2025

Feb 26, 2026

$2.1B+17.6%EPS $0.46

Q3 2025

Nov 6, 2025

$2.2B+16.8%EPS $0.53

Q2 2025

Aug 7, 2025

$2.1B+11.1%EPS $0.50

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$1.5B	$777M	$399M
Q2 22	$1.7B	$780M	$373M
Q3 22	$1.6B	$834M	$418M
Q4 22	$1.5B	$784M	$394M
Q1 23	$1.7B	$898M	$485M
Q2 23	$1.9B	$974M	$524M
Q3 23	$1.9B	$984M	$511M
Q4 23	$1.7B	$938M	$434M
Q1 24	$1.9B	$1.0B	$542M
Q2 24	$1.9B	$1.0B	$527M
Q3 24	$1.9B	$1000M	$480M
Q4 24	$1.8B	$1.0B	$381M
Q1 25	$1.9B	$1.0B	$570M
Q2 25	$2.1B	$1.2B	$632M
Q3 25	$2.2B	$1.2B	$675M
Q4 25	$2.1B	$1.2B	$543M

Valuation

Quarter	P/S	P/E
Q1 22	7.3x	31.2x
Q2 22	8.3x	40.6x
Q3 22	7.5x	38.4x
Q4 22	8.4x	44.4x
Q1 23	8.6x	43.3x
Q2 23	8.9x	41.5x
Q3 23	7.9x	34.9x
Q4 23	8.5x	37.0x
Q1 24	8.1x	35.5x
Q2 24	6.6x	28.9x
Q3 24	6.8x	31.6x
Q4 24	6.8x	33.9x
Q1 25	7.7x	37.8x
Q2 25	8.0x	38.9x
Q3 25	8.2x	37.9x
Q4 25	9.1x	39.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$351.0K	-$30M
Q2 22	$131M	$52M
Q3 22	$459M	$428M
Q4 22	$299M	$226M
Q1 23	$424M	$380M
Q2 23	$339M	$294M
Q3 23	$520M	$489M
Q4 23	$434M	$319M
Q1 24	$412M	$337M
Q2 24	$436M	$379M
Q3 24	$618M	$556M
Q4 24	$462M	$350M
Q1 25	$508M	$479M
Q2 25	$466M	$435M
Q3 25	$745M	$702M
Q4 25	$379M	$351M

Capital Expenditures

Quarter	CapEx
Q1 22	$30M
Q2 22	$79M
Q3 22	$30M
Q4 22	$72M
Q1 23	$44M
Q2 23	$44M
Q3 23	$31M
Q4 23	$115M
Q1 24	$75M
Q2 24	$58M
Q3 24	$62M
Q4 24	$112M
Q1 25	$29M
Q2 25	$31M
Q3 25	$44M
Q4 25	$28M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+22.1%	+34.9%
Q2 22	+13.2%	+37.0%
Q3 22	+15.2%	+24.9%
Q4 22	+6.2%	+10.5%
Q1 23	+11.9%	+8.5%
Q2 23	+12.1%	+3.8%
Q3 23	+14.3%	+11.5%
Q4 23	+14.4%	+15.9%
Q1 24	+11.8%	+11.8%
Q2 24	+2.5%	+3.2%
Q3 24	+1.3%	+4.1%
Q4 24	+4.7%	+10.4%
Q1 25	-2.3%	-5.3%
Q2 25	+11.1%	+7.8%
Q3 25	+16.8%	+8.6%
Q4 25	+17.6%	+11.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$16M	1.1%
Q2 22	$16M	1.0%
Q3 22	$17M	1.0%
Q4 22	$15M	1.0%
Q1 23	$16M	0.9%
Q2 23	$19M	1.0%
Q3 23	$18M	1.0%
Q4 23	$16M	0.9%
Q1 24	$22M	1.2%
Q2 24	$19M	1.0%
Q3 24	$28M	1.5%
Q4 24	$22M	1.2%
Q1 25	$21M	1.1%
Q2 25	$33M	1.6%
Q3 25	$33M	1.5%
Q4 25	$39M	1.8%

OpEx Breakdown

Quarter	G&A	S&M
Q3 23	$456M	$9M
Q4 23	—	$727M
Q3 24	$510M	$10M
Q4 24	—	$780M

Revenue Segments

Quarter	Alcohol Brands	Monster Energy Drinks	Other Segments	Strategic Brands
Q1 22	$15M	$1.4B	$6M	$93M
Q2 22	$32M	$1.5B	$6M	$79M
Q3 22	$27M	$1.5B	$6M	$89M
Q4 22	$27M	$1.4B	$5M	$93M
Q1 23	$46M	$1.6B	$5M	$86M
Q2 23	$61M	$1.7B	$7M	$100M
Q3 23	$42M	$1.7B	$7M	$99M
Q4 23	$35M	$1.6B	$5M	$92M
Q1 24	$56M	$1.7B	$6M	$108M
Q2 24	$42M	$1.7B	—	$109M
Q3 24	$40M	$1.7B	—	$113M
Q4 24	$35M	$1.7B	—	$102M
Q1 25	$35M	$1.7B	—	$98M
Q2 25	$38M	$1.9B	—	$130M
Q3 25	$33M	$2.0B	—	$131M
Q4 25	$29M	$2.0B	—	$110M

Revenue by Geography

Quarter	Asia Pacific	E M E A	Latin America And Caribbean	U.s. And Canada
Q1 23	$131M	$308M	$145M	$1.1B
Q2 23	$146M	$382M	$143M	$1.2B
Q3 23	$127M	$392M	$168M	$1.2B
Q4 23	$110M	$309M	$170M	$1.1B
Q1 24	$131M	$396M	$166M	$1.2B
Q2 24	$145M	$394M	$163M	$1.2B
Q3 24	$132M	$418M	$159M	$1.2B
Q4 24	$133M	$356M	$178M	$1.1B
Q1 25	$145M	$385M	$161M	$1.2B
Q2 25	$162M	$498M	$150M	$1.3B
Q3 25	$170M	$545M	$174M	$1.3B
Q4 25	$148M	$472M	$213M	$1.3B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$1.0B	$1.7B	$2.7B
Q2 22	$1.1B	$1.3B	$2.5B
Q3 22	$1.3B	$1.3B	$2.6B
Q4 22	$1.3B	$1.4B	$2.7B
Q1 23	$1.7B	$1.4B	$3.1B
Q2 23	$1.9B	$1.4B	$3.3B
Q3 23	$1.8B	$1.2B	$3.0B
Q4 23	$2.3B	$956M	$3.3B
Q1 24	$2.6B	$984M	$3.6B
Q2 24	$1.6B	$0	$1.6B
Q3 24	$1.6B	$0	$1.6B
Q4 24	$1.5B	$0	$1.5B
Q1 25	$1.9B	$0	$1.9B
Q2 25	$1.9B	$145M	$2.1B
Q3 25	$2.3B	$286M	$2.6B
Q4 25	$2.1B	$677M	$2.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	1.07B	-0.0%	+0.1%
Q2 22	1.07B	-0.1%	-0.1%
Q3 22	1.07B	-0.3%	-0.5%
Q4 22	1.06B	-0.8%	-1.2%
Q1 23	1.06B	+0.1%	-1.1%
Q2 23	1.06B	+0.1%	-0.9%
Q3 23	1.06B	-0.0%	-0.6%
Q4 23	1.05B	-0.7%	-0.5%
Q1 24	1.05B	-0.1%	-0.7%
Q2 24	1.04B	-1.3%	-2.1%
Q3 24	983M	-5.2%	-7.2%
Q4 24	981M	-0.2%	-6.8%
Q1 25	981M	+0.0%	-6.7%
Q2 25	984M	+0.3%	-5.1%
Q3 25	985M	+0.1%	+0.2%
Q4 25	987M	+0.2%	+0.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$371.1K	4K
Q2 22	$404.5K	4K
Q3 22	$396.9K	4K
Q4 22	$285.7K	5K
Q1 23	$320.8K	5K
Q2 23	$350.3K	5K
Q3 23	$350.5K	5K
Q4 23	$288.2K	6K
Q1 24	$316.4K	6K
Q2 24	$316.6K	6K
Q3 24	$313.3K	6K
Q4 24	$276.3K	7K
Q1 25	$282.8K	7K
Q2 25	$322.0K	7K
Q3 25	$335.0K	7K
Q4 25	$309.3K	7K

Revenue / Employee