What was Monster Beverage's revenue performance in fiscal year 2024?

Monster Beverage Corporation reported record annual net sales of $7.49 billion for the fiscal year ended December 31, 2024, representing a 4.9% increase compared to $7.14 billion in 2023. This growth was primarily attributed to higher sales volumes for its Monster Energy® brand drinks and the impact of implemented pricing actions.

How did Monster Beverage manage its capital and shareholder returns in 2024?

In 2024, Monster Beverage executed a significant $3.0 billion 'Dutch auction' tender offer to repurchase its common stock, funded by $2.25 billion in cash and $750 million in borrowings. The company also repurchased an additional $739.6 million through other repurchase plans during the year. As of February 27, 2025, $500.0 million remained available under its August 2024 repurchase plan.

What are the main drivers of Monster Beverage's profitability and what factors impacted it in 2024?

The primary driver of Monster Beverage's profitability is its Monster Energy® Drinks segment, which accounted for 91.6% of net sales in 2024. While gross profit increased by 6.7% due to higher net sales and improved gross margin to 54.0% (driven by pricing actions and lower freight/aluminum costs), operating income decreased by 1.2% to $1.93 billion. This decline was primarily due to a significant increase in operating expenses, largely stemming from $138.8 million in impairment charges related to the Alcohol Brands segment and increased selling and marketing expenditures.

How is the company's international business performing?

International net sales were strong, reaching $2.96 billion, which is 40% of total net sales. On a foreign currency adjusted basis, international net sales increased by 18.5% for the year ended December 31, 2024. The company continues to focus on international growth as a key value driver.

MNST 10-K FY2024 Annual Report — Revenue, Net Income, EPS

Summary

Monster Beverage Corporation (MNST) reported record annual net sales of $7.49 billion for the fiscal year ended December 31, 2024, marking a 4.9% increase compared to the prior year. This growth was primarily driven by increased global volume sales of their core Monster Energy® brand drinks and successful pricing actions implemented in the United States and international markets. The company's international business continues to be a significant growth driver, with net sales outside the U.S. reaching $2.96 billion, representing 40% of total net sales. Despite revenue growth, net income saw a decrease of 7.5% to $1.51 billion, largely impacted by $138.8 million in impairment charges related to the Alcohol Brands segment. The company also executed a substantial $3.0 billion share repurchase program in the first half of 2024, funded by cash on hand and borrowings, demonstrating a commitment to returning capital to shareholders. Management expresses confidence in maintaining sufficient liquidity for upcoming operational needs and capital expenditures.

Financial Highlights

50 data points

Beta

Revenue

$7.49B

54.0% Gross Margin

Net Income

$1.51B

20.1% Net Margin

Total Assets

$7.72B

Cash & Equivalents

$1.53B

Free Cash Flow

$1.66B

Financial Statements

Beta

Revenue	$7.49B
Cost of Revenue	$3.44B
Gross Profit	$4.05B
Operating Expenses	$2.12B
Operating Income	$1.93B
Net Income	$1.51B
Shares Outstanding (Basic)	1.00B
Shares Outstanding (Diluted)	1.01B

Key Highlights

1Record annual net sales of $7.49 billion, a 4.9% increase year-over-year, driven by volume growth and pricing actions.
2International net sales reached $2.96 billion (40% of total), with a strong foreign currency adjusted growth of 18.5%.
3Significant $3.0 billion share repurchase program completed in June 2024, funded by cash and debt.
4Net income decreased by 7.5% to $1.51 billion, primarily due to $138.8 million in impairment charges in the Alcohol Brands segment.
5Monster Energy® Drinks segment remains the dominant revenue driver, accounting for 91.6% of net sales.
6Increased operating expenses by 15.1% to $2.12 billion, largely due to impairment charges and increased selling and marketing expenses.
7Expanded credit facilities to $1.50 billion, consisting of a $750 million term loan and a $750 million revolving credit facility.

Monster Beverage Corp Annual Report, Year Ended Dec 31, 2024

Summary

Financial Highlights

Key Highlights

Frequently Asked Questions