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Monster Beverage (MNST) Financial History

20 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

Consumer Staples · Soft Drinks & Non-alcoholic Beverages · DATA UPDATED 2026-07-02

Monster Beverage (MNST) operates in the Soft Drinks & Non-alcoholic Beverages industry and is headquartered in Corona, United States with about 5,773 employees. Its market capitalization is roughly $91 billion. In the fiscal year ended 2025-12-31, MNST reported $8.3B in revenue and $1.9B in net income.

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. The company operates through four segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.

Interactive charts & full statements → Open the MNST valuation workbench →

MNST Revenue & Earnings History — Annual Income Statement

Income statement	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Revenue	$8.8B	$8.3B	$7.5B	$7.1B	$6.3B	$5.5B	$4.6B	$4.2B	$3.8B	$3.4B	$3.0B	$2.7B	$2.5B	$2.2B	$2.1B	$1.7B	$1.3B	$1.1B	$1.0B	$904M	$606M
Gross Profit	$4.9B	$4.6B	$4.0B	$3.8B	$3.2B	$3.1B	$2.7B	$2.5B	$2.3B	$2.1B	$1.9B	$1.6B	$1.3B	$1.2B	$1.1B	$894M	$680M	$612M	$539M	$468M	$317M
Gross Margin %	55.5%	55.9%	54.0%	53.1%	50.3%	56.1%	59.2%	60.0%	60.3%	63.4%	63.7%	60.0%	54.4%	52.2%	51.7%	52.5%	52.2%	53.6%	52.1%	51.7%	52.3%
Operating Income (EBIT)	$2.6B	$2.4B	$1.9B	$2.0B	$1.6B	$1.8B	$1.6B	$1.4B	$1.3B	$1.2B	$1.1B	$894M	$748M	$573M	$551M	$456M	$348M	$337M	$164M	$231M	$159M
Operating Margin %	29.3%	29.2%	25.8%	27.4%	25.1%	32.4%	35.5%	33.4%	33.7%	35.6%	35.6%	32.8%	30.3%	25.5%	26.7%	26.8%	26.7%	29.5%	15.8%	25.5%	26.2%
Net Income	$2.0B	$1.9B	$1.5B	$1.6B	$1.2B	$1.4B	$1.4B	$1.1B	$993M	$821M	$713M	$547M	$483M	$339M	$340M	$286M	$212M	$209M	$108M	$149M	$98M
Net Margin %	23.1%	23.0%	20.1%	22.8%	18.9%	24.9%	30.6%	26.4%	26.1%	24.4%	23.4%	20.1%	19.6%	15.1%	16.5%	16.8%	16.3%	18.3%	10.4%	16.5%	16.2%
EBITDA	$2.8B	$2.6B	$2.1B	$2.0B	$1.6B	$1.8B	$1.7B	$1.5B	$1.3B	$1.2B	$1.1B	$763M	$773M	$596M	$571M	$474M	$360M	$343M	$167M	$233M	$160M
Earnings Per Share (EPS)	$2.14	$2.01	$1.49	$1.58	$1.41	$1.60	$2.38	$1.29	$1.12	$0.84	$0.97	$0.48	$0.59	$0.42	$0.38	$0.32	$0.27	$0.19	$0.07	$0.18	$0.15
Shares Outstanding (M)	988M	984M	1,013M	1,058M	1,066M	1,071M	1,070M	1,093M	1,129M	1,154M	1,200M	1,156M	1,046M	1,040M	1,098M	1,120M	1,116M	1,136M	1,170M	1,186M	1,183M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MNST Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Total Revenue	$2.4B	$2.1B	$2.2B	$2.1B	$1.9B	$1.8B	$1.9B	$1.9B
Gross Profit	$1.3B	$1.2B	$1.2B	$1.2B	$1.0B	$1.0B	$1.0B	$1.0B
Gross Margin %	55.0%	55.5%	55.7%	55.7%	56.5%	55.3%	53.1%	53.6%
Operating Income (EBIT)	$730M	$543M	$675M	$632M	$570M	$381M	$480M	$527M
Operating Margin %	31.0%	25.5%	30.7%	29.9%	30.7%	21.0%	25.5%	27.7%
Net Income	$569M	$449M	$524M	$489M	$443M	$271M	$371M	$425M
Net Margin %	24.2%	21.1%	23.9%	23.2%	23.9%	14.9%	19.7%	22.4%
EBITDA	$779M	$601M	$720M	$676M	$607M	$417M	$507M	$576M
Earnings Per Share (EPS)	$0.58	$0.51	$0.53	$0.52	$0.45	$0.28	$0.38	$0.41
Shares Outstanding (M)	988M	987M	985M	984M	981M	981M	983M	1,037M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MNST Free Cash Flow History

Cash flow	TTM → 2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Cash from Operations (CFO)	$2.2B	$2.1B	$1.9B	$1.7B	$888M	$1.2B	$1.4B	$1.1B	$1.2B	$988M	$701M	$208M	$586M	$342M	$288M	$334M	$229M	$156M	$199M	$135M	$76M
Capital Expenditures (CapEx)	$124M	$132M	$306M	$235M	$212M	$57M	$67M	$110M	$75M	$93M	$105M	$42M	$31M	$52M	$49M	$31M	$22M	$29M	$11M	$7M	$5M
Free Cash Flow (FCF)	$2.1B	$2.0B	$1.6B	$1.5B	$676M	$1.1B	$1.3B	$1.0B	$1.1B	$895M	$596M	$165M	$554M	$290M	$238M	$303M	$207M	$127M	$188M	$128M	$72M
FCF Margin %	23.6%	23.7%	21.6%	20.8%	10.7%	19.8%	28.2%	23.9%	28.5%	26.6%	19.6%	6.1%	22.5%	12.9%	11.6%	17.8%	15.8%	11.2%	18.2%	14.2%	11.8%
Dividends Paid	—	—	—	—	$0M	$3M	$526M	$629M	—	$0M	$0M	$0M	$0M	$0M	$0M	$0M	$0M	—	—	—	—

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MNST Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30
Cash from Operations (CFO)	$605M	$379M	$745M	$466M	$508M	$462M	$618M	$436M
Capital Expenditures (CapEx)	$21M	$28M	$44M	$31M	$29M	$91M	$62M	$58M
Free Cash Flow (FCF)	$584M	$351M	$702M	$435M	$479M	$370M	$556M	$379M
FCF Margin %	24.8%	16.5%	31.9%	20.6%	25.8%	20.4%	29.6%	19.9%

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MNST Balance Sheet History

Balance sheet	2026-03-31	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31	2017-12-31	2016-12-31	2015-12-31	2014-12-31	2013-12-31	2012-12-31	2011-12-31	2010-12-31	2009-12-31	2008-12-31	2007-12-31	2006-12-31
Total Assets	$10.8B	$10.0B	$7.7B	$9.7B	$8.3B	$7.8B	$6.2B	$5.2B	$4.5B	$4.8B	$4.2B	$5.6B	$1.9B	$1.4B	$1.0B	$1.4B	$1.1B	$800M	$762M	$545M	$308M
Cash & Cash Equivalents	$2.0B	$2.1B	$1.5B	$2.3B	$1.3B	$1.3B	$1.2B	$798M	$638M	$529M	$378M	$2.2B	$370M	$211M	$223M	$359M	$355M	$328M	$257M	$12M	$35M
Total Liabilities	$2.1B	$1.7B	$1.8B	$1.5B	$1.3B	$1.2B	$1.0B	$979M	$916M	$896M	$824M	$762M	$424M	$428M	$399M	$383M	$254M	$215M	$326M	$122M	$83M
Total Debt (Short + Long-Term)	$0M	$0M	$391M	$18M	$16M	$11M	$2M	$4M	$12M	$6M	$0M	$1M	$0M	$0M	$0M	$0M	$0M	$0M	$1M	$1M	$0M
Total Shareholders' Equity	$8.7B	$8.3B	$6.0B	$8.2B	$7.0B	$6.6B	$5.2B	$4.2B	$3.6B	$3.9B	$3.3B	$4.8B	$1.5B	$992M	$644M	$979M	$828M	$585M	$436M	$422M	$225M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MNST viewer.

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A founder-built distribution moat wrapped around an energy drink brand, riding the Coca-Cola network. The growth slowdown is real; the cash conversion is extraordinary.

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Other Companies in Soft Drinks & Non-alcoholic Beverages

KO · Coca-Cola Company (The) — $354 billion
PEP · PepsiCo — $187 billion
KDP · Keurig Dr Pepper — $40 billion

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