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Monster Beverage (MNST) stock

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NASDAQ: MNST Nasdaq Beverages Next results ~November 5, 2026

B Fundamentals grade

Monster Beverage is a US-listed company in the beverages industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$71

Cash-flow model

Base case. Range ~$55–$93 across our lower- and higher-growth cases (10.8%–20.8% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 49% above it.

Price used: $48.02, November 2, 2026

Monster Beverage valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

Value diary

Our note on each quarter Monster Beverage files

Where Monster Beverage stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $9.22bn, up 20.4% on a year earlier, faster than 18.1% a quarter earlier. That growth ranks 173 of 931 among all the companies we cover. Free-cash-flow margin fell to 22.8% from 24.2% a year earlier. Operating margin widened to 29.2% from 26.9%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 1 financial-health checks. Our cash-flow model value is $36.95 a share, against a share price of $47.09. At that price, our model says the market is pricing in about 20.4% a year of cash-flow growth for five years, faster than the 10.7% a year revenue growth it has delivered.

Source: 10-Q filed August 7, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Monster Beverage's trailing-twelve-month revenue grew 20.4% year on year, with a free-cash-flow margin of 22.8%. Where it stands out: operating margin of 29.2% ranks 2 of 26 beverages companies we cover. Where it lags: days sales outstanding of 75 days ranks 18 of 21 beverages companies we cover.

Our discounted-cash-flow model values the business at ~$71 per share in the base case (~$55–$93 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 13.1% while net income grew 35.2%: a 22pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $48.02 is 49% below our value per share of $71.
  • Fast growth. Revenue grew 20.4% over the last 12 months, against a median of 6.9% for beverages companies we cover.
  • High operating margin. 29.2% of revenue is left as operating profit, against a median of -0.7% for beverages companies we cover.
  • Strong cash generation. 22.8% of revenue turned into free cash flow, against a median of 9.6% for beverages companies we cover.
  • Net cash. Cash exceeds long-term debt by $2.2bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Insiders selling. 5 insiders sold $36M of stock over the past 365 days and none bought (0% under pre-set trading plans).
  • Below peers: days sales outstanding. Days sales outstanding of 75 days ranks 18 of 21 beverages companies we cover (median 33 days).

Latest results: FY2026 Q2

Filed August 7, 2026
Earnings per share
$0.29 against an average estimate of $0.29: beat by 1.8%
Revenue
$2.54bn, up 20.2% on a year earlier
Share reaction
-4.3% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026; average EPS estimate $0.30

Monster Beverage's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.4%
  • 1 week+3.4%
  • 1 month+11.8%
  • This year+25.3%
  • 1 year+43.7%
  • 5 years+120.0%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$9.2B
Operating margin
29.2%
Net margin
23.1%
EPS (TTM, diluted)
$2.15

Growth

Revenue growth
+20.4%
Change in growth rate
+2.3 pts
Share count change
+0.5%

Cash

Free cash flow (TTM)
$2.1B
FCF margin
22.8%
Stock pay % of revenue
1.5%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Leadership
  3. Results
  4. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Monster Beverage valuation models and calculator

What the price is pricing in

The share price implies about 6.7% a year of cash-flow growth for five years.That is close to the 10.7% a year revenue growth Monster Beverage has delivered.

  • Priced in6.7%
  • Last 12 months20.4%
  • 3 years a year11.3%
  • 5 years a year10.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($47.12, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$71
Price used
$47.12close November 3, 2026
Implied change
▲ +52%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Monster Beverage's free cash flow after stock-based pay with after-tax interest added back ($2B, FY2026 Q2 TTM), growing 12.4% and 13.7% in the next two years (forecasts, guidance and its record), then back to 15.8% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$55–~$93 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Monster Beverage's free cash flow after stock-based pay ( $2B, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Monster Beverage as an operating company, with every model that fits that kind of business. Cost of equity 7.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.53 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$71 ~$55–$93 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$20 ~$19–$27 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$66 ~$44–$110 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$44 ~$35–$57 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$55 ~$20–$71 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Monster Beverage with Beverages in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −23%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −4%
  • Last year's free-cash-flow margin change, if it persists ▼ −6%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $32$43$57$75$98$129
8.5% $26$33$43$56$73$94
10% $22$27$35$45$58$74

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$12.41$11.09$15.82$12.30$15.89$23.12$24.01$25.38$28.80$26.28$38.34$48.02
Market value$14.3bn$13.3bn$18.3bn$13.9bn$17.4bn$24.7bn$25.7bn$27.1bn$30.5bn$26.6bn$37.7bn$47.4bn
+ Net debt (− = net cash)−$2.2bn−$378m−$529m−$638m−$798m−$1.2bn−$1.3bn−$1.3bn−$2.3bn−$1.2bn−$2.1bn−$2.2bn
Enterprise value$12.2bn$12.9bn$17.7bn$13.2bn$16.6bn$23.5bn$24.4bn$25.8bn$28.2bn$25.5bn$35.7bn$45.2bn
Multiples
Price / sales 5.3x4.4x5.4x3.6x4.1x5.4x4.6x4.3x4.3x3.6x4.5x5.1x
Price / earnings 26.2x18.7x22.3x14.0x15.7x17.5x18.7x22.7x18.7x17.6x19.8x22.3x
Price / free cash flow 29.4x22.1x20.2x12.6x17.2x18.8x23.1x38.7x20.4x16.0x19.2x22.6x
EV / EBITDA 13.2x11.5x14.2x9.9x11.3x13.9x13.2x15.7x13.9x12.7x14.1x16.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

97 /100

Strong moat

How hard Monster Beverage's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Net income has been a median 19.3% of total assets over 10 years.

  • Pricing power 17 / 20

    Gross margin has been a median 56.7%, moving by 4.1 percentage points (standard deviation) across 10 years.

  • Durability 20 / 20

    Operating margin has been a median 31.3%; its worst year was 26.9%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 23.6% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 8.7% over five years; stock-based pay has been a median 1.4% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $2.5bn and EPS of $0.30 (range $0.29 to $0.34) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.15 +19% $9.7bn +17%
Next $1.31 +14% $10.7bn +10%

Next year's EPS estimate has moved +1.2% in 90 days, across 13 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.6% on 90 days ago. In the last 30 days, 1 analyst raised Monster Beverage's forecast and 1 cut it.

Consensus EPS forecast Monster Beverage, last 90 days
$1.10 $1.15 $1.20 $1.25 $1.30 $1.35 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.14 Current fiscal year, 60 days ago: $1.15 Current fiscal year, 30 days ago: $1.15 Current fiscal year, 7 days ago: $1.15 Current fiscal year, Now: $1.15 $1.15 Next fiscal year, 90 days ago: $1.29 Next fiscal year, 60 days ago: $1.31 Next fiscal year, 30 days ago: $1.31 Next fiscal year, 7 days ago: $1.31 Next fiscal year, Now: $1.31 $1.31

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.14$1.29
60 days ago $1.15$1.31
30 days ago $1.15$1.31
7 days ago $1.15$1.31
Now $1.15$1.31

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.29 $0.29 +1.8%
Mar 2026 $0.26 $0.29 +10.2%
Dec 2025 $0.24 $0.23 −4.5%
Sept 2025 $0.24 $0.27 +9.2%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 6, 2026

No numeric guidance in Monster Beverage's latest earnings release (filed August 6, 2026). Some companies give their outlook only on the earnings call.

How our valuation uses these forecasts

Our cash-flow model grows Monster Beverage's revenue by +12.4% next year and +13.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.7%, weight 68%) and the company's own record (+15.8%, weight 32%) . How the weights are set.

Analyst recommendations

25 analysts, Oct 2026
Buy1456%
Hold1040%
Sell14%

Monthly trend

  1. Oct 20263111025
  2. Sep 20263111025
  3. Aug 20263111126
  4. Jul 20263111126

Counts of recommendations published by analysts covering Monster Beverage, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.2%
of tradable shares
Days to cover
4.5
at average volume
Short interest, 1 month
+5%
to October 15, 2026
Held by institutions
69%
of shares
Held by insiders
28.3%
of shares
Employees
5,773
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +43.7%

$33.41 on October 31, 2025 to $48.02

ThenNowEffect
Revenue (last 12 months) $7.7bn $9.2bn +20.4%
Net margin 20.5% 23.1% +12.3%
P/E multiple 20.9x 22.3x +6.8%
Share count 982m 987m −0.5%

Biggest factor: revenue.

Last 3 years +72.9%

$27.78 on November 3, 2023 to $48.02

ThenNowEffect
Revenue (last 12 months) $6.7bn $9.2bn +37.8%
Net margin 21.5% 23.1% +7.6%
P/E multiple 20.5x 22.3x +8.5%
Share count 1061m 987m +7.5%

Biggest factor: revenue.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
MNST+4%+6%+14%−9%+46%+25%
Industry peers (median)+13%−6%−4%−13%−37%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
MNST50%50%58%50%67%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
MNST−18%−26%−21%−26%−12%−18%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 30% from January 26, 2018 to December 24, 2018. Getting back needed a 44% gain, reached on February 5, 2020, 408 days after the low.

Price behaviour

52-week range
$33.16 – $49.97
From 52-week high
−3.9%
vs 50-day average
+7.3%
vs 200-day average
+11.3%
Volatility (1 year)
27%
Beta vs S&P 500
0.25

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±5.1%
After a week
9 up, 3 down
typical move ±5.9%
After a month
7 up, 5 down
typical move ±7.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 −4.3% +0.5% −1.2% −7.2%
May 7, 2026 +11.8% +0.5% +11.2% +14.6%
February 26, 2026 −0.1% −1.0% −10.2% −15.9%
November 6, 2025 +2.7% −1.0% +4.7% +8.9%
August 7, 2025 +8.7% +0.7% +7.9% +5.9%
May 8, 2025 +0.7% +0.6% +2.9% +4.0%
February 27, 2025 +5.8% −0.1% +7.8% +12.0%
November 7, 2024 −0.6% +1.2% +2.8% −2.3%
August 7, 2024 −11.4% +1.6% −9.0% −4.2%
May 2, 2024 +2.7% +2.2% +3.1% −3.1%
February 28, 2024 +5.3% +0.2% +3.9% +5.6%
November 2, 2023 +7.6% +2.8% +6.6% +6.8%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Monster Beverage’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.57× the last 60 days’ realised volatility .
  • Puts and calls are priced at about the same implied volatility.
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

MNST Monster Beverage Grade B $48.13

Own 100 shares, sell the $72.50 call expiring December 18, 2026 (46 days) for $17.90 a share — $1,790 per contract.

Previous session · Bid $17.90, ask $21.60, quoted Mon 2 Nov, 17:30 New York time with MNST at $48.13. Option prices move with the shares: check the live chain at your broker before trading.

  • If MNST ends below $72.50: you keep your shares and the $1,790 — 37.2% extra on the position, 295.1% a year at that pace.
  • If it ends above $72.50: your shares are sold at $72.50, a total return of 87.8% including the premium — at or above our value of ~$71.
$4.2k $0 −$604 Break-even $30.23 Price $48.13 Our value $71.00
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$1,790
Annualised
295.1%
Break-even
$30.23
Max gain
$4,227.5
Chance of selling
~65%

Results are expected around November 5, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Monster Beverage in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Monster Beverage
$6B $7B $8B $9B $10B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $6.9B Revenue (TTM), FY23 Q4: $7.1B Revenue (TTM), FY24 Q1: $7.3B Revenue (TTM), FY24 Q2: $7.4B Revenue (TTM), FY24 Q3: $7.4B Revenue (TTM), FY24 Q4: $7.5B Revenue (TTM), FY25 Q1: $7.4B Revenue (TTM), FY25 Q2: $7.7B Revenue (TTM), FY25 Q3: $8B Revenue (TTM), FY25 Q4: $8.3B Revenue (TTM), FY26 Q1: $8.8B Revenue (TTM), FY26 Q2: $9.2B $9.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $6.9B
FY23 Q4 $7.1B
FY24 Q1 $7.3B
FY24 Q2 $7.4B
FY24 Q3 $7.4B
FY24 Q4 $7.5B
FY25 Q1 $7.4B
FY25 Q2 $7.7B
FY25 Q3 $8B
FY25 Q4 $8.3B
FY26 Q1 $8.8B
FY26 Q2 $9.2B
Revenue growth, TTM YoY Monster Beverage
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 11.2% Revenue growth, TTM YoY, FY23 Q4: 13.1% Revenue growth, TTM YoY, FY24 Q1: 13.1% Revenue growth, TTM YoY, FY24 Q2: 10.4% Revenue growth, TTM YoY, FY24 Q3: 7.0% Revenue growth, TTM YoY, FY24 Q4: 4.9% Revenue growth, TTM YoY, FY25 Q1: 1.5% Revenue growth, TTM YoY, FY25 Q2: 3.7% Revenue growth, TTM YoY, FY25 Q3: 7.6% Revenue growth, TTM YoY, FY25 Q4: 10.7% Revenue growth, TTM YoY, FY26 Q1: 18.1% Revenue growth, TTM YoY, FY26 Q2: 20.4% 20.4%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 11.2%
FY23 Q4 13.1%
FY24 Q1 13.1%
FY24 Q2 10.4%
FY24 Q3 7.0%
FY24 Q4 4.9%
FY25 Q1 1.5%
FY25 Q2 3.7%
FY25 Q3 7.6%
FY25 Q4 10.7%
FY26 Q1 18.1%
FY26 Q2 20.4%
Operating margin (TTM) Monster Beverage
25% 26% 27% 28% 29% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 27.6% Operating margin (TTM), FY23 Q4: 27.4% Operating margin (TTM), FY24 Q1: 27.4% Operating margin (TTM), FY24 Q2: 27.3% Operating margin (TTM), FY24 Q3: 26.8% Operating margin (TTM), FY24 Q4: 25.8% Operating margin (TTM), FY25 Q1: 26.3% Operating margin (TTM), FY25 Q2: 26.9% Operating margin (TTM), FY25 Q3: 28.3% Operating margin (TTM), FY25 Q4: 29.2% Operating margin (TTM), FY26 Q1: 29.3% Operating margin (TTM), FY26 Q2: 29.2% 29.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 27.6%
FY23 Q4 27.4%
FY24 Q1 27.4%
FY24 Q2 27.3%
FY24 Q3 26.8%
FY24 Q4 25.8%
FY25 Q1 26.3%
FY25 Q2 26.9%
FY25 Q3 28.3%
FY25 Q4 29.2%
FY26 Q1 29.3%
FY26 Q2 29.2%
FCF margin (TTM) Monster Beverage
18% 20% 22% 24% 26% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 20.5% FCF margin (TTM), FY23 Q4: 21.0% FCF margin (TTM), FY24 Q1: 19.9% FCF margin (TTM), FY24 Q2: 20.8% FCF margin (TTM), FY24 Q3: 21.8% FCF margin (TTM), FY24 Q4: 22.2% FCF margin (TTM), FY25 Q1: 24.1% FCF margin (TTM), FY25 Q2: 24.2% FCF margin (TTM), FY25 Q3: 24.9% FCF margin (TTM), FY25 Q4: 23.7% FCF margin (TTM), FY26 Q1: 23.6% FCF margin (TTM), FY26 Q2: 22.8% 22.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 20.5%
FY23 Q4 21.0%
FY24 Q1 19.9%
FY24 Q2 20.8%
FY24 Q3 21.8%
FY24 Q4 22.2%
FY25 Q1 24.1%
FY25 Q2 24.2%
FY25 Q3 24.9%
FY25 Q4 23.7%
FY26 Q1 23.6%
FY26 Q2 22.8%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Monster Beverage took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $8.3B
  2. Other income $63.2M · 0.8%
  3. Cost of revenue $3.7B · 44.2%
  4. Gross profit $4.6B · 55.8%
  5. Other operating costs $2.2B · 26.7%
  6. Operating income $2.4B · 29.2%
  7. Income tax $577M · 7.0%
  8. Net income $1.9B · 23.0%

Shares of revenue. Source: Monster Beverage's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1,143 1,304 1,703 2,061 2,246 2,465 2,723 3,049 3,369 3,807 4,201 4,599 5,541 6,311 7,140 7,493 8,294 9,219
Gross profit 612 680 894 1,066 1,173 1,340 1,632 1,942 2,138 2,295 2,519 2,724 3,109 3,175 3,794 4,049 4,632 5,121
EBITDA 343 360 473 571 596 773 925 1,126 1,248 1,341 1,464 1,690 1,848 1,646 2,022 2,011 2,534 2,809
Operating income 337 348 456 551 573 748 894 1,085 1,199 1,284 1,403 1,633 1,797 1,585 1,953 1,930 2,419 2,688
Net income 209 212 286 340 339 483 547 713 821 993 1,108 1,410 1,377 1,192 1,631 1,509 1,905 2,128
Diluted EPS $0.37 $0.38 — — — — — — — — — — — — — — — $2.15
Growth (year on year)
Revenue +10.6% +14.1% +30.6% +21.0% +9.0% +9.7% +10.5% +12.0% +10.5% +13.0% +10.3% +9.5% +20.5% +13.9% +13.1% +4.9% +10.7% +20.4%
EBITDA +105.5% +4.8% +31.7% +20.6% +4.3% +29.8% +19.6% +21.8% +10.8% +7.4% +9.2% +15.5% +9.3% −10.9% +22.9% −0.6% +26.0% +30.3%
Operating income +106.2% +3.1% +31.2% +20.6% +4.0% +30.5% +19.6% +21.4% +10.5% +7.1% +9.3% +16.4% +10.1% −11.8% +23.3% −1.2% +25.3% +30.3%
Net income +93.2% +1.6% +35.0% +18.8% −0.4% +42.7% +13.2% +30.4% +15.2% +21.0% +11.6% +27.2% −2.3% −13.5% +36.9% −7.5% +26.3% +35.2%
Diluted EPS +298.2% +3.2% — — — — — — — — — — — — — — — +34.5%
Margins
Gross margin 53.6% 52.2% 52.5% 51.7% 52.2% 54.4% 60.0% 63.7% 63.5% 60.3% 60.0% 59.2% 56.1% 50.3% 53.1% 54.0% 55.8% 55.5%
EBITDA margin 30.0% 27.6% 27.8% 27.7% 26.5% 31.4% 34.0% 36.9% 37.0% 35.2% 34.8% 36.8% 33.3% 26.1% 28.3% 26.8% 30.5% 30.5%
Operating margin 29.5% 26.7% 26.8% 26.7% 25.5% 30.3% 32.8% 35.6% 35.6% 33.7% 33.4% 35.5% 32.4% 25.1% 27.4% 25.8% 29.2% 29.2%
Net margin 18.3% 16.3% 16.8% 16.5% 15.1% 19.6% 20.1% 23.4% 24.4% 26.1% 26.4% 30.7% 24.9% 18.9% 22.8% 20.1% 23.0% 23.1%
Free-cash-flow margin 11.6% 16.6% 18.1% 11.9% 13.4% 23.1% 17.9% 19.7% 26.8% 28.9% 24.1% 28.6% 20.1% 11.1% 21.0% 22.2% 23.7% 22.8%
Cash flow
Cash from operations 156 229 334 288 342 597 523 701 988 1,162 1,114 1,364 1,156 888 1,718 1,929 2,098 2,239
Capital spending 24 13 26 43 41 28 36 100 83 62 102 49 44 189 221 264 132 141
Free cash flow 133 216 308 245 301 570 487 602 904 1,100 1,012 1,315 1,112 699 1,496 1,664 1,966 2,098
Stock-based pay 14 17 19 28 29 29 33 46 52 57 63 70 70 64 69 91 126 136
Free cash flow after stock pay 119 200 289 216 273 541 454 556 852 1,043 949 1,245 1,041 635 1,427 1,573 1,840 1,962
Balance sheet
Cash 328 355 359 223 211 370 2,175 378 529 638 798 1,180 1,326 1,307 2,298 1,533 2,088 2,192
Total debt 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 375 0 0
Net debt (negative = net cash) −328 −355 −359 −223 −211 −370 −2,175 −378 −529 −638 −798 −1,180 −1,326 −1,307 −2,298 −1,158 −2,088 −2,192
Diluted shares 1,136m 1,116m 1,120m 1,098m 1,040m 1,046m 1,156m 1,200m 1,154m 1,129m 1,093m 1,070m 1,071m 1,066m 1,058m 1,013m 984m 987m
Returned to shareholders
Buybacks 86 24 176 728 68 8 808 2,252 361 1,342 707 596 14 771 659 3,772 104 221
Total returned 86 24 176 728 68 8 808 2,252 361 1,342 707 596 14 771 659 3,772 104 221

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 1 checks passed · June 30, 2026
What it owns · $11.4bn
Short-term assets $6.4bnLonger-term assets $5.0bn
What it owes, and who funded it · $11.1bn
Short-term liabilities $1.7bnShareholders' equity $9.4bn
  • Short-term assets cover short-term liabilities $6.4bn of assets due within a year against $1.7bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Monster Beverage's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$221M
Returned to shareholders
11%
of free cash flow
Buybacks, last 3 fiscal years
$4.5B
Diluted share count
+0.5%
year over year
Total shareholder yield
0.5%
dividends 0.0% + buybacks 0.5% of market value
Days sales outstanding
75 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in beverages
Last 12 months unless stated MNST COKE ABEV KDP CCEP CELH Median
Revenue, last 12 months $9.2bn $7.7bn $15.8bn $20.1bn $23.6bn $3.0bn $723m
Revenue growth, last 12 months 20.4% 10.7% −5.2% 27.5% 6.9% 82.9% 6.6%
Revenue growth, 3-year average 11.3% 5.7% — 11.3% — 47.4% 4.3%
Revenue growth, latest quarter 20.2% 10.6% — 75.6% — 10.6% 6.4%
Gross margin 55.5% 39.1% 51.4% 49.4% 35.6% 48.8% 42.6%
Operating margin 29.2% 13.0% 26.4% 16.2% 13.4% 5.3% −0.9%
Operating margin, 3-year average 27.8% 13.0% 28.1% 18.7% 11.9% 12.7% 11.9%
Net margin 23.1% 7.2% 17.6% 7.1% 9.3% 4.2% −1.6%
Cash from operations / revenue 24.3% 12.3% 27.7% 12.6% 14.1% 16.7% 9.9%
Free-cash-flow margin 22.8% 8.4% 22.5% 9.8% 9.6% 15.2% 9.0%
Free-cash-flow margin, 3-year average 22.6% 7.6% 24.9% 8.8% 10.6% 14.8% 8.8%
Stock pay / revenue 1.5% 0.0% 0.5% 1.3% 0.2% 1.1% 1.2%
Change in share count 0.5% 0.7% −0.8% 0.1% −1.1% 6.9% 0.0%

Median of all 26 companies we cover in beverages. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

26 beverages companies
Measure Company Peer median Rank
Revenue growth Growth 20.4% 6.9% 8 of 26
Change in growth rate Growth +2.3pp +0.6pp 5 of 26
Gross margin Profitability 55.5% 44.2% 6 of 26
Operating margin Profitability 29.2% -0.7% 2 of 26
Net margin Profitability 23.1% -1.5% 2 of 26
Free-cash-flow margin Cash generation 22.8% 9.6% 3 of 24
Stock pay as % of revenue Cash generation 1.5% 1.2% 15 of 23
Long-term debt as % of assets Balance sheet 2.4% 12.9% 6 of 18
Change in share count Balance sheet 0.5% 0.0% 12 of 19
Days sales outstanding Balance sheet 75 days 33 days 18 of 21

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Monster Energy Drinks $7.7B 92.4% ▲ 11.7%
Strategic Brands $469M 5.7% ▲ 8.4%
Alcohol Brands $135M 1.6% ▼ 21.8%
All Other Segments $25M 0.3% ▲ 6.2%
Geography
Region Revenue Share YoY
U.s.and Canada $5.1B 61.2% ▲ 7.4%
EMEA $1.9B 22.9% ▲ 21.5%
Latin America and Caribbean $698M 8.4% ▲ 4.7%
Asia Pacific $624M 7.5% ▲ 15.4%

From Monster Beverage's 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$63.1B
Institutions reporting
1,352
Shares held vs prior quarter
▲ 0.1%
Positions opened / closed
205 / 86

Top buyers and sellers, Q2 2026: 709 institutions bought and 546 sold ; the biggest buyer was Marshall Wace, LLP (+3.4M shares) and the biggest seller Blackrock, Inc (−3.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $5.8B 60.0M 9.1% ▼ 4.7%
Vanguard Capital Management LLC $4.4B 45.7M 7.0% ▲ 0.6%
State Street Corp $3.5B 36.1M 5.5% ▼ 4.9%
Invesco Ltd. $3.1B 32.7M 5.0% ▼ 3.4%
Jpmorgan Chase & Co $2.9B 29.7M 4.6% ▲ 4.7%
Loomis Sayles & Co L P $2.4B 24.8M 3.8% ▼ 4.1%
Geode Capital Management, LLC $2B 20.3M 3.1% ▼ 1.2%
Alliancebernstein L.P. $2B 27.1M 3.1% ▼ 6.0%
Vanguard Portfolio Management LLC $1.4B 15.0M 2.3% ▼ 3.9%
Bank Of America Corp $1.2B 12.4M 1.9% ▼ 0.8%
Morgan Stanley $1.2B 12.3M 1.9% ▲ 3.9%
Schroder Investment Management Group $952M 9.9M 1.5% ▼ 5.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Monster Beverage's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $36.2M 11 trades by 5 insiders · 0% under pre-set plans
Net ▼ $36.2M net selling
Insider Date Trade Shares Price Value
Carling Guy CEO, EMEA and OSP June 10, 2026 Sell 19,000 $90.90 $1.7M
Tirre Emelie Chief Strategy Officer May 14, 2026 Sell 10,000 $85.74 $857,400
Hall Mark J Director May 14, 2026 Sell 54,000 $85.81 $4.6M
Tirre Emelie Chief Strategy Officer May 13, 2026 Sell 88,700 $85.96 $7.6M
Kelly Thomas J Chief Financial Officer May 13, 2026 Sell 7,000 $87.81 $614,670
Kelly Thomas J Chief Financial Officer March 13, 2026 Sell 8,000 $77.22 $617,760
Sacks Rodney C Director December 12, 2025 Sell 137,204 $73.58 $10.1M
Sacks Rodney C Director December 12, 2025 Sell 52,342 $73.58 $3.9M
Sacks Rodney C Director December 12, 2025 Sell 16,997 $73.58 $1.3M
Tirre Emelie Chief Commercial Officer December 12, 2025 Sell 30,000 $73.31 $2.2M
Carling Guy President of EMEA & OSP November 13, 2025 Sell 38,438 $71.33 $2.7M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 40 trades and filings

In the last 12 months, 2 members of Congress disclosed 6 purchases and 0 sales of Monster Beverage shares.

  • Josh Gottheimer(D-NJ 5):Purchase, $1,001 - $15,000, traded July 17, 2026, filed August 10, 2026
  • Jared Moskowitz(D-FL 23):Purchase, $1,001 - $15,000, traded June 17, 2026, filed July 26, 2026
  • Jared Moskowitz(D-FL 23):Purchase, $1,001 - $15,000, traded June 17, 2026, filed July 26, 2026

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Monster Beverage was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Monster Beverage in brief

What does Monster Beverage do?
Monster Beverage is a US-listed company in the beverages industry. Its financial year ends in December.
What is Monster Beverage's stock ticker?
Monster Beverage trades under the ticker MNST on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Monster Beverage's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Monster Beverage reported revenue of $9.2B, 20.4% higher than a year earlier, according to its SEC filings.
What is Monster Beverage's free cash flow?
Monster Beverage's free-cash-flow margin is 22.8% of revenue over the trailing twelve months, ranking 3 of the 24 beverages companies we cover.
What is Monster Beverage's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Monster Beverage's free cash flow after stock-based pay gives ~$71 per share in the base case, and ~$55–$93 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Monster Beverage's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Monster Beverage buying back stock, and does it pay a dividend?
Monster Beverage spent $221M on share repurchases over the trailing twelve months, and its diluted share count still rose 0.5% over the year.
What is Monster Beverage's market cap?
On November 2, 2026, Monster Beverage's market capitalisation was about $47.4B, with a price-to-earnings ratio of 22.3 and net debt of -$2.2B. Market figures come from third-party market data and may be delayed.
Who are Monster Beverage's competitors?
In our Beverages peer group, the companies closest to Monster Beverage are Coca-cola Consolidated, Inc., Ambev S.a., Keurig Dr Pepper, Coca-cola Europacific Partners plc and Celsius Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Monster Beverage's.
Are insiders buying or selling Monster Beverage stock?
Over the last 12 months, Monster Beverage's directors and officers reported 0 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Monster Beverage's next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Monster Beverage announces its own schedule.