Explain this page
Arphra AIPlain-English read on Monster Beverage Corporation’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2026E | 2027E | 2028E | 2029E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $5.54B | $6.31B | $7.14B | $7.49B | $8.29B | $9.55B | $10.4B | $11.39B | $12.67B |
| Cost of revenue | $2.43B | $3.14B | $3.35B | $3.44B | $3.66B | $4.4B | $4.74B | $5.08B | $5.73B |
| Gross profit | $3.11B | $3.17B | $3.79B | $4.05B | $4.63B | $5.14B | $5.57B | $6.15B | $7B |
| Gross margin | +56.10% | +50.30% | +53.14% | +54.04% | +55.85% | +53.81% | +53.55% | +53.96% | +55.22% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $1.31B | $1.59B | $1.8B | $1.99B | $0 | $1.68B | $1.8B | $1.98B | $2.23B |
| Total operating expenses | $1.31B | $1.59B | $1.84B | $2.12B | $2.21B | $2.5B | $2.72B | $3B | $3.37B |
| Operating income | $1.8B | $1.58B | $1.95B | $1.93B | $2.42B | $2.62B | $2.93B | $3.16B | $3.37B |
| Operating margin | +32.44% | +25.11% | +27.36% | +25.76% | +29.17% | +27.45% | +28.18% | +27.75% | +26.61% |
| EBITDA | $1.85B | $1.65B | $2.02B | $2.01B | $2.6B | $2.68B | $2.93B | $3.27B | $3.66B |
| EBIT | $1.8B | $1.58B | $1.95B | $1.93B | $2.49B | $2.71B | $2.9B | $3.13B | $3.45B |
| Below the line | |||||||||
| Interest expense | $0 | $0 | $0 | $27.9M | $6.6M | $14.77M | $15.65M | $17.45M | $19.59M |
| Interest income | $4.2M | $29.7M | $130M | $115M | $85.2M | $139.89M | $151.65M | $168.75M | $185.47M |
| Other income / expense | $3.95M | -$12.76M | $115.13M | $59.17M | $63.18M | — | — | — | — |
| Pre-tax income | $1.8B | $1.57B | $2.07B | $1.99B | $2.48B | $2.7B | $2.99B | $3.18B | $3.67B |
| Income tax expense | $423.94M | $380.34M | $437.49M | $480.41M | $577.1M | $634.36M | $661.08M | $751.03M | $831.8M |
| Earnings | |||||||||
| Net income | $1.38B | $1.19B | $1.63B | $1.51B | $1.91B | $2.05B | $2.25B | $2.46B | $2.73B |
| Net income · continuing ops | $1.38B | $1.19B | $1.63B | $1.51B | $1.91B | $2.1B | $2.29B | $2.57B | $2.83B |
| Net margin | +24.86% | +18.88% | +22.84% | +20.14% | +22.97% | +21.51% | +21.64% | +21.57% | +21.57% |
| EPS · basic | $1.30 | $1.13 | $1.56 | $1.50 | $1.95 | $2.33 | $2.58 | $2.95 | $3.40 |
| EPS · diluted | $1.29 | $1.12 | $1.54 | $1.49 | $1.94 | $2.29 | $2.58 | $2.93 | $3.37 |
| EPS · low estimate | — | — | — | — | — | $2.20 | $2.43 | $2.73 | $3.15 |
| EPS · high estimate | — | — | — | — | — | $2.45 | $2.81 | $3.08 | $3.53 |
| Shares · basic | 1.06B | 1.05B | 1.04B | 1B | 975.89M | 969.49M | 971.77M | 970.82M | 978.84M |
| Shares · diluted | 1.07B | 1.07B | 1.06B | 1.01B | 984.45M | 986.76M | 993.41M | 985.92M | 978.67M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 16 | 18 | 14 | 9 |
| Analysts (EPS) | — | — | — | — | — | 9 | 9 | 7 | 2 |
Coverage notes. Historical figures come’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
Full income statement, balance sheet, and cash-flow history is included with Pro.
Upgrade to Pro