Monster Beverage (MNST) FY2018 results: revenue $3.8 billion, up 13.0% on the year
Monster Beverage Corp. (MNST) reported revenue of $3.8 billion for fiscal 2018, the year ended 31 December 2018, up 13.0% on the year before. Net income was $993 million, up 21.0%, and diluted earnings per share $0.88. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$3.8 billion
+13.0% on the year
FY2011FY2018
Operating margin
33.7%
35.6% a year earlier
FY2011FY2018
Net income
$993 million
+21.0% on the year
FY2011FY2018
Diluted EPS
$0.88
+23.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
3,807
3,369
3,049
+13.0%
Cost of revenue
1,512
1,231
1,107
+22.8%
Gross profit
2,295
2,138
1,942
+7.4%
Gross margin
60.3%
63.5%
63.7%
Operating income
1,284
1,199
1,085
+7.1%
Operating margin
33.7%
35.6%
35.6%
Pre-tax income
1,293
1,202
1,080
+7.6%
Income tax
300
381
367
-21.2%
Effective tax rate
23.2%
31.7%
34.0%
Net income
993
821
713
+21.0%
Net margin
26.1%
24.4%
23.4%
Diluted EPS
$0.88
$0.71
$0.59
+23.9%
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
1,162
988
701
+17.6%
Capital expenditure
61.9
83.4
99.8
-25.8%
Free cash flow
1,100
904
602
+21.6%
Free cash flow margin
28.9%
26.8%
19.7%
Cash from investing
273
-532
-256
Cash from financing
-1,316
-311
-2,238
Depreciation and amortisation
57.0
48.9
40.8
+16.6%
Share-based compensation
57.1
52.3
45.8
+9.2%
Buybacks
1,342
361
2,252
+271.6%
Diluted shares, weighted
1,129m
1,154m
1,200m
-2.2%
Shares outstanding at period end
1,087m
1,133m
1,133m
-4.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
3,611
3,895
3,330
-7.3%
Debt
0.0
0.0
0.0
Other liabilities
916
896
824
+2.3%
Total liabilities and equity
4,527
4,791
4,153
-5.5%
Fixed assets
243
230
173
+5.5%
Goodwill
1,332
1,332
1,332
0.0%
Intangible assets
1,046
1,034
1,033
+1.1%
Investments
321
675
223
-52.5%
Cash and equivalents
638
529
378
+20.6%
Receivables
485
449
448
+7.8%
Inventory
278
256
162
+8.6%
Other assets
186
286
405
-35.0%
Total assets
4,527
4,791
4,153
-5.5%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.