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Monster BeverageMNST

Legal name
Monster Beverage Corp
Sector
Other
Industry
Bottled & Canned Soft Drinks & Carbonated Waters
Exchange
Nasdaq

Stock Price $MNST

Latest filings

You are here#8 of 26 in Consumer Staples by market cap

Filing record · 2016–202610-K1210-Q338-K97

MNST filed 12 annual reports (10-K), 33 quarterly reports (10-Q) and 97 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’18Mar ’18
  2. Leadership change8-K · Mar ’21Mar ’21
  3. Leadership change8-K · Apr ’25Apr ’25

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  18. $8.29B
YoY changeLargest recent move+20.5%in FY21Latest +10.7%

1 older move runs past ±25% (largest +30.6%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All MNST Financial Metrics55 metrics

Income Statement12

Balance Sheet27

Cash Flow12

Per Share4

02—Overview

Monster Beverage Financial Overview 2021–2025

Updated Nov 7, 2026

Monster Beverage's operating income surged by 25.3% to $2.42 billiona in FY2025, proving the business can aggressively hike prices without sacrificing consumer volume. The central thesis for the energy drink giant is clear: proven pricing power and targeted international expansion have successfully insulated the core brand from input cost volatility.

The company’s top line steadily expanded across a challenging macroeconomic backdrop, with total revenue growing from $5.54 billionb in FY2021 to a record $8.29 billion in FY2025. This growth arc was heavily fueled by overseas adoption, as international sales climbed to account for 41% of total net sales by the end of the period. Management successfully navigated supply chain headwinds that had previously compressed gross margins to a low of 50.3% in FY2022. Through strategic price actions and normalizing aluminum costs, gross margins fully rebounded to 55.8% in FY2025.

Beyond operational execution, management heavily optimized its capital structure. The company executed a massive $3.0 billionc Dutch auction tender offer in FY2024, returning capital through a mix of cash and a new $1.50 billion credit facility. While an early foray into the alcohol segment triggered a $138.8 million impairment charge in FY2024, core energy drink demand continued to accelerate, driving Q1 2026 net sales up 26.9% year-over-year to $2.35 billion. At the close of FY2025, the market rewarded this structural resilience, valuing the company at a $75.0 billion market cap with shares priced at $76.67.

Recent Developments (Q2 and Q3 2026)

Monster Beverage maintained steady momentum through Q2 2026 and Q3 2026, driven by strong international demand and pricing power. For the nine months ended September 30, 2026, net sales rose 20.9% to $7.45 billiond, while net income increased 18.3% to $1.72 billion. Gross margins held resilient at 55.2% despite rising aluminum and freight costs. Operational highlights included a 2-for-1 stock split in August and executive changes, including the appointment of Matthew S. Burroughs as Chief Accounting Officer.

The bull case centers on accelerating overseas expansion, with international sales jumping 28.1% in Q3 2026 to represent 47% of the total. Conversely, the bear case highlights margin compression from persistent input inflation and declining alcohol segment revenues. Trading at a P/E of 47.1x based on annual earnings of $0.97e as of the Q3 2026 filing, the stock appears richly valued.

What to watch: international segment growth rates; raw material cost trends

03—Filings

Recent SEC Filings

  1. 8-KMonster Beverage 8-K Report, Financial Results (Nov 5, 2026)Monster Beverage Corporation reported strong third-quarter 2026 financial results, with net sales increasing by 16.7% to $2.56 billion. This growth was driven by a significant surge in international sales, which climbed 28.1% to $1.20 billion, now representing 47% of total net sales. The company highlighted robust performance in its core Monster Energy® Drinks segment, which saw a 17.1% increase in net sales. Despite a slight decrease in gross profit margin due to increased costs for aluminum cans and freight, the company's operating income grew by 6.4% and net income per diluted share rose by 7.8% to $0.29. Strategic brand initiatives, including increased marketing investments across various platforms and new product launches, are contributing to this growth. The company also provided updates on its share repurchase program and a recent two-for-one stock split. While facing cost pressures and investing in digital transformation, Monster Beverage demonstrated continued momentum in expanding its global market share and product innovation.
  2. 8-KMonster Beverage 8-K Report, Executive Changes (Sep 25, 2026)Monster Beverage Corporation (MNST) has filed an 8-K report detailing a significant executive transition within its Americas operations. Effective November 30, 2026, Rob Gehring will be departing from his role as Chief Executive Officer, Americas (CEO Americas) to return to The Coca-Cola Company (TCCC) as president of its North America operating unit. Mr. Gehring's tenure with Monster Beverage will conclude on this date, and the company has expressed gratitude for his contributions. Following Mr. Gehring's departure, Emelie C. Tirre, currently the Chief Strategy Officer of MEC, will assume responsibility for the Americas and the Caribbean on an interim basis, starting December 1, 2026. Ms. Tirre brings a wealth of experience from her previous role as Chief Commercial Officer for the Americas, Caribbean, and Oceania, where she was instrumental in sales, development, and market expansion. Investors should monitor the company's strategic direction and leadership stability in the Americas region during this interim period.
  3. 8-KMonster Beverage 8-K Report, Executive Changes (Sep 4, 2026)Monster Beverage Corporation (MNST) has announced a key executive change, with Matthew S. Burroughs appointed as Chief Accounting Officer and Deputy Chief Financial Officer, effective September 3, 2026. This promotion recognizes Mr. Burroughs' nearly 20-year tenure with the company, during which he has held a variety of increasingly senior roles within its corporate finance department. His extensive experience spans critical areas such as Global Accounting, SEC Reporting, Treasury, and Investor Relations, indicating a deep understanding of the company's financial operations and reporting. This appointment suggests a focus on internal talent development and ensuring continuity in financial leadership. Investors can view this as a positive development, signaling stability and a well-understood succession plan for these crucial finance roles. Mr. Burroughs' long-standing commitment and proven track record within Monster Beverage are likely to be valuable as the company navigates its growth and financial reporting obligations.
  4. 8-KMonster Beverage 8-K Report, Financial Results (Aug 6, 2026)Monster Beverage reported strong second-quarter 2026 results, with net sales up 20.2% to $2.54 billion and GAAP diluted EPS up 19.0% to $0.59. Growth was driven mainly by the core Monster Energy Drinks segment, which rose 21.6% to $2.36 billion, and by international markets, where sales outside the U.S. grew 34.6% to about 46% of total net sales. Currency was a tailwind: FX added roughly $48.5 million to Q2 net sales, so constant-currency growth was a still-solid 17.9%. Excluding FX, the Strategic Brands segment grew 8.1%, and the Alcohol Brands segment shrank 15.2%. Profitability was mixed. Gross margin edged up to 55.9% from 55.7%, helped by pricing and mix, but operating expenses rose 24.7% to $679.2 million, or 26.8% of sales versus 25.8% a year earlier. The increase reflects heavier social, digital, and media marketing and sponsorship spending, plus higher distribution costs (4.7% of sales versus 3.9%). Operating income still grew 17.2% to $740.4 million. Non-GAAP adjusted EPS of $0.60 rose 15.2%, a slower pace than net sales, which signals that management is reinvesting in growth. The company also repurchased no stock in Q2, leaving about $900 million under existing authorizations. A two-for-one stock split takes effect via a 100% stock dividend, with shares expected to trade split-adjusted starting August 11, 2026. The balance sheet remains strong, with cash and cash equivalents of $2.19 billion and short-term investments of $1.23 billion as of June 30, 2026. Accounts receivable rose about 18% since year-end, which is faster than sales growth and bears watching for collection timing. Investors should weigh the strong top-line and earnings momentum against rising marketing and distribution costs and the continued slow decline of the Alcohol Brands business. The scanner data in the exhibit is partly garbled in this filing copy, so market share conclusions should be checked against the original presentation.
  5. 8-KMonster Beverage 8-K Report, Corporate Update (Jul 8, 2026)Monster Beverage Corporation (NASDAQ: MNST) announced on July 8, 2026 that its Board of Directors has approved and declared a 2-for-1 stock split, to be effected as a 100% stock dividend. Stockholders of record on July 24, 2026 will receive one additional share for each share held, with the dividend distributed after the close of trading on August 10, 2026. The company anticipates the split-adjusted stock beginning to trade on August 11, 2026. The announcement is a capital-structure event rather than an operating or financial-performance disclosure. A stock split doubles the share count and proportionally halves the per-share price, leaving each holder's proportional ownership and total market value unchanged at the moment of the split. It does not, by itself, change revenue, earnings, cash flow, or the company's underlying valuation. Investors should therefore read it primarily as a signal of management and board confidence in the share price and as a potential driver of improved trading liquidity and retail accessibility. The filing contains no new financial results, guidance, or updates on the business. The accompanying press release restates the split terms and the company's standard forward-looking statement cautions, which cite risks including tariffs, aluminum and raw-material costs, reliance on The Coca-Cola Company, regulatory scrutiny of energy drinks, and litigation. Those risks remain the relevant drivers of MNST's fundamentals and should be weighed independently of the split.
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04—See also

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