Monster Beverage (MNST) FY2014 results: revenue $2.5 billion, up 9.7% on the year
Monster Beverage Corp. (MNST) reported revenue of $2.5 billion for fiscal 2014, the year ended 31 December 2014, up 9.7% on the year before. Net income was $483 million, up 42.7%, and diluted earnings per share $1.39. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2015.
Revenue
$2.5 billion
+9.7% on the year
FY2008FY2014
Operating margin
30.3%
25.5% a year earlier
FY2008FY2014
Net income
$483 million
+42.7% on the year
FY2008FY2014
Diluted EPS
$1.39
+42.1% on the year
FY2008FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
2,465
2,246
2,061
+9.7%
Cost of revenue
1,125
1,073
995
+4.8%
Gross profit
1,340
1,173
1,066
+14.2%
Gross margin
54.4%
52.2%
51.7%
Operating income
748
573
551
+30.5%
Operating margin
30.3%
25.5%
26.7%
Pre-tax income
746
564
549
+32.3%
Income tax
263
225
209
+16.6%
Effective tax rate
35.2%
39.9%
38.1%
Net income
483
339
340
+42.7%
Net margin
19.6%
15.1%
16.5%
Diluted EPS
$1.39
$0.97
$0.93
+42.1%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
597
342
288
+74.7%
Capital expenditure
28.0
40.8
42.9
-31.4%
Free cash flow
570
301
245
+89.0%
Free cash flow margin
23.1%
13.4%
11.9%
Depreciation and amortisation
25.7
22.8
20.6
+12.7%
Share-based compensation
28.6
28.8
28.4
-0.7%
Buybacks
8.2
67.6
728
-87.9%
Diluted shares, weighted
349m
347m
366m
+0.5%
Shares outstanding at period end
335m
334m
332m
+0.5%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,515
992
644
+52.7%
Debt
0.0
0.0
0.0
Other liabilities
424
428
399
-1.1%
Total liabilities and equity
1,939
1,421
1,043
+36.5%
Fixed assets
90.2
88.1
69.1
+2.3%
Goodwill
0.0
n/a
n/a
Intangible assets
50.7
65.8
54.6
-22.8%
Investments
824
412
118
+100.0%
Cash and equivalents
370
211
223
+75.2%
Receivables
280
292
236
-3.9%
Inventory
175
221
203
-21.2%
Other assets
149
130
139
+14.4%
Total assets
1,939
1,421
1,043
+36.5%
10-K for the year ended 31 December 2014, filed 2 March 2015: the filing.