financial statements

The full income statement, balance sheet, and cash-flow statement for Monster Beverage Corporation (MNST), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

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PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	8.29B YoY+10.7%	7.49B YoY+4.9%	7.14B YoY+13.1%	6.31B YoY+13.9%	5.54B YoY+20.5%
	4.63B YoY+14.4%	4.05B YoY+6.7%	3.79B YoY+19.5%	3.17B YoY+2.1%	3.11B YoY+14.1%
Cost of revenue	3.66B YoY+6.3%	3.44B YoY+2.9%	3.35B YoY+6.7%	3.14B YoY+28.9%	2.43B YoY+29.8%
	2.21B YoY+4.4%	2.12B YoY+15.1%	1.84B YoY+15.8%	1.59B YoY+21.3%	1.31B YoY+20.2%
Amortization of intangibles	19.3M YoY+157.3%	7.50M YoY+27.1%	5.90M YoY-22.4%	7.60M YoY+72.7%	4.40M YoY-42.9%
Operating income	2.42B YoY+25.3%	1.93B YoY-1.2%	1.95B YoY+23.3%	1.58B YoY-11.8%	1.80B YoY+10.1%
Other non-operating income	63.2M YoY+6.8%	59.2M YoY-48.6%	115M YoY+1002.5%	-12.8M YoY-422.8%	3.95M YoY+156.5%
Pre-tax income	2.48B YoY+24.8%	1.99B YoY-3.8%	2.07B YoY+31.6%	1.57B YoY-12.7%	1.80B YoY+10.8%
Income tax	577M YoY+20.1%	480M YoY+9.8%	437M YoY+15.0%	380M YoY-10.3%	424M YoY+95.8%
	1.91B YoY+26.3%	1.51B YoY-7.5%	1.63B YoY+36.9%	1.19B YoY-13.5%	1.38B YoY-2.3%
Net income to common	1.91B YoY+26.3%	1.51B YoY-7.5%	1.63B YoY+36.9%	1.19B YoY-13.5%	1.38B YoY-2.3%
Weighted-avg shares (basic)	976M YoY-2.9%	1.00B YoY-3.9%	1.04B YoY-0.8%	1.05B YoY-0.4%	1.06B YoY+99.7%
Weighted-avg shares (diluted)	984M YoY-2.8%	1.01B YoY-4.2%	1.06B YoY-0.8%	1.07B YoY-0.5%	1.07B YoY+100.3%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	5.36B YoY+47.2%	3.64B YoY-34.8%	5.59B YoY+17.3%	4.76B YoY+1.8%	4.68B YoY+49.1%
Cash & equivalents	2.09B YoY+36.2%	1.53B YoY-33.3%	2.30B YoY+75.8%	1.31B YoY-1.5%	1.33B YoY+12.4%
Short-term investments	677M	0.00 YoY-100.0%	956M YoY-29.9%	1.36B YoY-22.1%	1.75B YoY+98.5%
Accounts receivable	1.62B YoY+32.5%	1.22B YoY+2.3%	1.19B YoY+17.5%	1.02B YoY+13.3%	897M YoY+34.6%
Inventory	800M YoY+8.5%	737M YoY-24.1%	971M YoY+3.8%	936M YoY+57.7%	593M YoY+78.1%
Prepaid expenses	104M YoY-3.5%	107M YoY-7.7%	116M YoY+5.8%	110M YoY+32.8%	82.7M YoY+49.3%
	9.99B YoY+29.4%	7.72B YoY-20.3%	9.69B YoY+16.8%	8.29B YoY+6.3%	7.80B YoY+25.8%
Property, plant & equipment	1.08B YoY+3.3%	1.05B YoY+17.5%	891M YoY+72.3%	517M YoY+64.7%	314M YoY-0.3%
Operating lease right-of-use	52.4M YoY-5.2%	55.2M YoY-6.1%	58.8M YoY+54.8%	38.0M YoY+64.1%	23.2M YoY+1.8%
Goodwill	1.33B YoY+0.0%	1.33B YoY-6.1%	1.42B YoY+0.0%	1.42B YoY+6.5%	1.33B YoY+0.0%
Intangible assets	1.38B YoY-2.5%	1.41B YoY-0.9%	1.43B YoY+16.9%	1.22B YoY+13.8%	1.07B YoY+1.3%
Long-term investments	487M	0.00 YoY-100.0%	76.4M YoY+24.4%	61.4M YoY-38.2%	99.4M YoY+124.5%
Deferred tax assets	189M YoY+2.4%	184M YoY+5.3%	175M YoY-1.2%	177M YoY-21.4%	225M YoY-6.8%
Other non-current assets	159M YoY+58.8%	100M YoY-8.9%	110M YoY-18.0%	134M YoY+67.6%	80.3M YoY+13.9%
	1.45B YoY+31.9%	1.10B YoY-5.5%	1.16B YoY+15.9%	1.00B YoY+3.8%	965M YoY+28.7%
Accounts payable	566M YoY+21.3%	467M YoY-17.3%	564M YoY+27.0%	444M YoY+9.9%	404M YoY+36.2%
Accrued liabilities	306M YoY+38.6%	221M YoY+20.0%	184M YoY+6.4%	173M YoY-18.0%	211M YoY+47.9%
Deferred revenue	45.3M YoY-1.1%	45.8M YoY+9.3%	41.9M YoY-3.2%	43.3M YoY+1.8%	42.5M YoY-6.4%
Short-term & current debt	0.00	0.00	0.00	—	—
Current lease liability	12.1M YoY-3.8%	12.5M YoY+13.0%	11.1M YoY+43.1%	7.75M YoY+175.5%	2.81M YoY+0.0%
Long-term debt	199M YoY-46.8%	374M	0.00	—	—
Deferred revenue (non-current)	160M YoY-10.6%	179M YoY-12.4%	204M YoY-8.7%	224M YoY-8.0%	243M YoY-8.0%
Non-current lease liability	41.4M YoY-5.5%	43.9M YoY-9.5%	48.5M YoY+63.8%	29.6M YoY+15.3%	25.7M YoY+0.0%
Deferred tax liabilities	28.9M YoY+0.0%	28.9M	0.00 YoY-100.0%	89.4M YoY+0.0%	89.4M YoY+0.0%
Other non-current liabilities	127M YoY+14.6%	111M YoY+20.7%	91.8M YoY+117.2%	42.3M YoY+43.3%	29.5M YoY+7.6%
	8.25B YoY+38.5%	5.96B YoY-27.6%	8.23B YoY+17.1%	7.03B YoY+7.0%	6.57B YoY+27.2%
Common stock	495K YoY+0.0%	495K YoY+0.0%	495K YoY+0.0%	495K YoY+0.0%	495K YoY+0.0%
Additional paid-in capital	5.43B YoY+5.6%	5.14B YoY+3.4%	4.98B YoY+4.2%	4.78B YoY+2.7%	4.65B YoY+2.5%
Retained earnings	9.35B YoY+25.6%	7.45B YoY+25.4%	5.94B YoY-34.0%	9.00B YoY+15.3%	7.81B YoY+21.4%
Treasury stock	6.48B YoY+1.6%	6.37B YoY+148.3%	2.57B YoY-61.1%	6.60B YoY+13.2%	5.83B YoY+0.2%
Accumulated other comprehensive income	-60.8M YoY+77.4%	-269M YoY-115.0%	-125M YoY+21.2%	-159M YoY-130.0%	-69.2M YoY-2179.7%
Total equity incl. non-controlling	950M YoY+0.0%	950M YoY+0.0%	950M YoY+0.0%	950M YoY+0.0%	950M YoY+0.0%
Total liabilities & equity	9.99B YoY+29.4%	7.72B YoY-20.3%	9.69B YoY+16.8%	8.29B YoY+6.3%	7.80B YoY+25.8%
Common shares issued	1.13B YoY+0.6%	1.13B YoY+0.3%	1.12B YoY-12.5%	1.28B YoY+100.6%	640M YoY+0.2%
Common shares outstanding	978M YoY+0.5%	973M YoY-6.6%	1.04B YoY-0.3%	1.04B YoY+97.3%	529M YoY+0.2%
Shares outstanding (cover)	977M YoY+0.5%	973M YoY-6.5%	1.04B YoY+99.4%	522M YoY-1.4%	529M YoY+0.2%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.10B YoY+8.8%	1.93B YoY+12.3%	1.72B YoY+93.5%	888M YoY-23.2%	1.16B YoY-15.3%
Depreciation & amortization	114M YoY+42.3%	80.4M YoY+16.7%	68.9M YoY+12.5%	61.2M YoY+22.1%	50.2M YoY-12.1%
Share-based compensation	126M YoY+38.1%	91.0M YoY+32.2%	68.8M YoY+7.4%	64.1M YoY-9.0%	70.5M YoY+0.3%
Deferred income taxes	-2.23M YoY+1.9%	-2.28M YoY-107.4%	30.7M YoY-32.5%	45.5M YoY+85.3%	24.5M YoY+116.2%
Change in receivables	301M YoY+220.1%	93.9M YoY-42.4%	163M YoY+26.5%	129M YoY-49.3%	254M YoY+112.4%
Change in inventory	34.9M YoY+116.5%	-212M YoY-2577.9%	-7.90M YoY-102.3%	348M YoY+25.2%	278M YoY+1016.7%
Change in payables	78.5M YoY+227.6%	-61.5M YoY-154.5%	113M YoY+126.6%	49.8M YoY-56.5%	114M YoY+511.3%
	-1.32B YoY-279.5%	734M YoY+479.4%	-193M YoY-19.8%	-161M YoY+83.7%	-992M YoY-110.0%
Capital expenditure	132M YoY-49.9%	264M YoY+19.3%	221M YoY+17.3%	189M YoY+330.2%	43.9M YoY-10.0%
Proceeds from sale of PP&E	4.30M YoY+57.4%	2.73M YoY+8.4%	2.52M YoY+91.9%	1.31M YoY-1.1%	1.33M YoY+33.7%
Other investing activities	398K YoY+124.3%	-1.64M YoY-124.0%	6.83M YoY-74.1%	26.3M YoY+132.0%	11.4M YoY-57.0%
	-324M YoY+90.3%	-3.33B YoY-513.5%	-543M YoY+23.2%	-707M YoY-2130.2%	34.8M YoY+106.6%
Net short-term debt	-10.3M YoY-25.8%	-8.22M YoY+40.9%	-13.9M YoY-18652.0%	75.0K YoY-97.4%	2.93M YoY+194.9%
Common stock issued	165M YoY+108.4%	79.0M YoY-39.4%	130M YoY+103.5%	64.0M YoY+40.0%	45.7M YoY-37.3%
Common stock repurchased	104M YoY-97.3%	3.77B YoY+472.4%	659M YoY-14.5%	771M YoY+5475.0%	13.8M YoY-97.7%
FX effect on cash	97.9M YoY+200.2%	-97.6M YoY-1212.5%	8.78M YoY+122.7%	-38.7M YoY+26.2%	-52.5M YoY-411.6%
Net change in cash	555M YoY+172.6%	-764M YoY-177.2%	991M YoY+5226.7%	-19.3M YoY-113.2%	146M YoY-61.8%
Interest paid	5.34M YoY-78.9%	25.3M YoY+6861.4%	363K YoY-15.8%	431K YoY+221.6%	134K YoY+204.5%
Income taxes paid	550M YoY+15.5%	476M YoY+12.5%	423M YoY+11.4%	380M YoY-9.6%	421M YoY+18.3%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	74.9B YoY+46.5%	51.1B YoY-14.7%	59.9B YoY+126.3%	26.5B YoY+4.2%	25.4B YoY+4.1%
P/E	39.3× YoY+16.1%	33.9×	—	—	—
P/S	9.0× YoY+32.4%	6.8× YoY-21.7%	8.7× YoY+102.8%	4.3× YoY-6.3%	4.6× YoY-13.6%
P/B	9.1× YoY+5.8%	8.6× YoY+11.9%	7.7× YoY+95.3%	3.9× YoY+1.4%	3.9× YoY-18.2%
P/FCF	38.1× YoY+24.1%	30.7× YoY-27.8%	42.5× YoY+5.7%	40.2× YoY+76.0%	22.9× YoY+23.1%
Earnings yield	2.5% YoY-13.8%	3.0%	—	—	—
FCF yield	2.6% YoY-19.4%	3.3% YoY+38.5%	2.4% YoY-5.4%	2.5% YoY-43.2%	4.4% YoY-18.8%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: MNST's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all MNST filings on SEC EDGAR → Not investment advice.

MNST▼ financial statements

About this data

financial statements