Monster Beverage key statistics and ratios

In fiscal 2025, Monster Beverage had return on equity of 26.8%, an operating margin of 29.2%, debt equal to 0.0% of equity and a current ratio of 3.70. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Monster Beverage: financial ratios, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
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%
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%
Return on equity	35.7%	30.0%	31.7%	41.9%	41.4%	38.5%	17.3%	17.5%	22.7%	26.5%	28.5%	30.2%	23.5%	17.5%	21.4%	21.3%	26.8%	24.2%
Return on assets	26.1%	21.8%	22.8%	28.3%	27.5%	28.8%	14.6%	14.7%	18.4%	21.3%	22.9%	24.8%	19.7%	14.8%	18.1%	17.3%	21.5%	19.9%
Asset turnover	1.43	1.34	1.36	1.71	1.82	1.47	0.72	0.63	0.75	0.82	0.87	0.81	0.79	0.78	0.79	0.86	0.94	0.86
Current ratio	6.99	4.97	4.44	2.89	3.74	4.65	8.77	3.04	3.72	3.00	3.50	4.19	4.85	4.76	4.81	3.32	3.70	3.73
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	6.3%	0.0%	0.0%
Effective tax rate	37.8%	39.3%	37.4%	38.1%	39.9%	35.2%	38.7%	34.0%	31.7%	23.2%	21.8%	13.3%	23.5%	24.2%	21.2%	24.1%	23.2%	23.4%
Capital spending as % of revenue	2.1%	1.0%	1.5%	2.1%	1.8%	1.1%	1.3%	3.3%	2.5%	1.6%	2.4%	1.1%	0.8%	3.0%	3.1%	3.5%	1.6%	1.5%
Free cash flow ÷ net income	63.5%	102.1%	107.7%	72.0%	89.0%	117.9%	89.1%	84.4%	110.2%	110.8%	91.4%	93.3%	80.7%	58.7%	91.7%	110.3%	103.2%	98.6%
Dividends and buybacks ÷ free cash flow	65.0%	10.9%	57.2%	297.3%	22.4%	1.4%	165.9%	374.4%	39.9%	122.0%	69.9%	45.3%	1.2%	110.3%	44.0%	226.6%	5.3%	10.5%

US$ thousands unless shown otherwise. Fiscal quarters.

Monster Beverage: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	53.2%	55.3%	56.5%	55.7%	55.7%	55.5%	55.0%	55.9%
Operating margin	25.5%	21.0%	30.7%	29.9%	30.7%	25.5%	31.0%	29.2%
Net margin	19.7%	14.9%	23.9%	23.1%	23.9%	21.1%	24.2%	23.0%
Free-cash-flow margin	30.4%	20.4%	25.8%	20.6%	31.9%	16.5%	24.8%	18.2%
Current ratio	3.13	3.32	3.37	3.52	3.19	3.70	3.26	3.73
Debt to equity	13.0%	6.3%	3.1%	—	—	—	—	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

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.

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.

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Figures from Monster Beverage's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Monster Beverage.