Quality Investor

Monster Beverage Corporation

Rank #132Capital Return

MNST · Nasdaq · Consumer Defensive

Monster Beverage Corporation (MNST) — Rank #132 by gross profitability (GP/assets 0.41) · ROE 20.3% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0000865752 · all metrics point-in-time as of the filing date.

About

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.

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The company operates through four segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other. It offers carbonated non-carbonated energy drinks, ready-to-drink iced teas, lemonades, juice cocktails, single-serve juices and fruit beverages, ready-to-drink dairy and coffee drinks, energy drinks, sports drinks and single-serve still waters, and sodas that are considered natural, sparkling juices, and flavored sparkling beverages. In addition, the company provides its products under the Monster Energy, Monster Energy Ultra, Rehab Monster, Monster Energy Nitro, Java Monster, Punch Monster, Juice Monster, Monster Tour Water, Reign Total Body Fuel, Reign Storm, Bang Energy, NOS, Full Throttle, Burn, Mother, Nalu, Ultra Energy, Play and Power Play, Relentless, BPM, BU, Samurai, Live+, Predator, and Fury brands. Further, it offers craft beers, flavored malt beverages,and hard seltzers under the Jai Alai IPA, Florida Man IPA, Dale's Pale Ale, Wild Basin Hard Seltzers, Dallas Blonde, Deep Ellum IPA, Perrin Brewing Company Black Ale, Hop Rising Double IPA, Wasatch Apricot Hefeweizen, The Beast, and Beast Tea, Blind Lemon, and Blinder Lemon brands. The company engages in the concentrates and/or beverage bases to authorized bottling, and canning operations. It sells its products to full-service beverage bottlers/distributors, retail grocery and specialty chains, wholesalers, club stores, mass merchandisers, convenience and gas chains, food service customers, value stores, e-commerce retailers, and the military. The company was formerly known as Hansen Natural Corporation and changed its name to Monster Beverage Corporation in January 2012.

Monster Beverage Corporation was founded in 1985 and is headquartered in Corona, California.

Industry
Beverages - Non-Alcoholic
Sector
Consumer Defensive
Filer Category
Large accelerated filer
Fiscal Year End
December 31

Price History

MNST+85.8% · +13.2% CAGRSPY+80.3% · +12.5% CAGR

Company Snapshot

P/E and reverse DCF are the primary valuation lenses at this stage.

Market Cap

$86.81B

P/E (annual)

P/S (annual)

10.5

P/B

9.3

P/OCF (annual)

41.4

Shareholder Yield

2.8%

Employees

5,773

Industry

Beverages - Non-Alcoholic

Exchange

Nasdaq

Signal Flags

3 green
Revenue growth acceleratingGrowth rate increasing year over year
Operating leverage expandingOperating income growing faster than revenue
Sequential beat (rev + EPS)Both revenue and EPS exceeded prior quarter

Quality Profile

Profitability

1/1 pass
GP / assets
0.41
Return on equity
20.3%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
0.22
Current ratio
3.73×
Net cash
$3.83B

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
1.5%

Growth

2/2 pass
Revenue growth
10.7%
Piotroski F-Score
N/A
Share dilution
-2.8%

Terry Smith quality gate

Passes 4/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

9.1%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -2.8% — per-share value needs a total required return of 6.3% once share-count change is priced in.

vs. own 6-year median revenue growth: 11.9%

within its own history

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

4.7%

r = 10% (base)

9.1%

r = 12%

12.9%

Net debt / market cap: -8.8%

Base FCF: $2B3Y mean FCF: $1.7B

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / S

Price / revenue per share

5.1xExpensive
2.0xmed 2.6x5.1x

P / B

Price / book value per share

5.1xExpensive
1.7xmed 2.4x5.1x

P / GP

Price / gross profit per share

9.1xExpensive
3.4xmed 4.3x9.1x

P / FCF

Price / free cash flow per share

21.4xExpensive
8.2xmed 13.0x21.4x

FCF yield, shareholder yield, and buyback activity are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.41

Primary signal (Novy-Marx).

2nd of 18 SIC 20 peers

Return on equity

20.3%

Gross margin

55.8%

3rd of 18 SIC 20 peers

Revenue growth (YoY)

10.7%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

9.5%

Revenue CAGR (5Y)

12.5%

Earnings CAGR (3Y)

16.9%

FCF CAGR (3Y)

41.2%

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

0.22

2nd of 18 SIC 20 peers (best = lowest)

Current ratio

3.73×

7th of 18 SIC 20 peers

Quick ratio

3.10×

Net cash

$3.83B

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$1.97B

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.03

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

1.5%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

20202025
Capital Return
Hypergrowth
Op. Leverage