MNST Monster Beverage Corp

Overview and Growth

In fiscal 2025, Monster Beverage Corp recorded $8.29B of revenue, net income of $1.91B, and an operating cash inflow of $2.10B. At $8.29B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 10.7% above fiscal 2024 revenue of $7.49B, marking a year-over-year increase. At period end, total assets were $9.99B, framing the scale of the company’s operating and financing commitments. The revenue-to-assets relationship was 0.83x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

After reported cost of revenue, the company retained $4.63B as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 55.8% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced $2.42B of income after the reported operating expense base, before the remaining non-operating and tax effects. The operating result equaled 29.2% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all reported below-operating-line items, the company recorded net income of $1.91B for the fiscal year. Net margin was 23.0%, meaning that this portion of revenue remained as net income after all recognized expenses. Pretax income was $2.48B, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Measured against revenue, pretax income equaled 29.9%, adding a pre-tax profitability layer between revenue and net income. Income tax expense totaled $577.10M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 23.2%, quantifying the portion of pre-tax earnings paid in income tax. The relationship between net income and period-end equity was 23.1%, indicating the profitability achieved on book capital. Return on period-end assets was 19.1%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

Total assets were $9.99B, supported by $1.73B of liabilities and $8.25B of shareholder equity. The near-term balance sheet paired $5.36B of current assets with $1.45B of current liabilities at the reporting date. Current assets covered current liabilities by 3.7x, leaving a positive buffer for near-term obligations. Reported cash and equivalents were $2.09B, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 144.2%, excluding receivables and other current assets. Liabilities represented 17.4% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 20.9% of total assets, showing the liquid cash component within the company’s broader resource base. Total assets were 29.4% higher than fiscal 2024 assets of $7.72B, measuring the company’s own balance-sheet change. Reported equity changed 38.5% from $5.96B in fiscal 2024, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $2.10B, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Against net income, operating cash flow measured 1.1x, showing the relationship between accrual earnings and operating cash. Capital expenditures used $132.28M, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital expenditures represented 6.3% of operating cash flow, leaving the remainder available as free cash flow. After capital spending, free cash flow was $1.97B, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 23.7% of revenue, linking post-investment cash generation with the company’s operating scale. Measured against total assets, free cash flow represented 19.7%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.