Monster Beverage (MNST) FY2020 results: revenue $4.6 billion, up 9.5% on the year
Monster Beverage Corp. (MNST) reported revenue of $4.6 billion for fiscal 2020, the year ended 31 December 2020, up 9.5% on the year before. Net income was $1.4 billion, up 27.2%, and diluted earnings per share $1.32. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$4.6 billion
+9.5% on the year
FY2013FY2020
Operating margin
35.5%
33.4% a year earlier
FY2013FY2020
Net income
$1.4 billion
+27.2% on the year
FY2013FY2020
Diluted EPS
$1.32
+30.0% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,599
4,201
3,807
+9.5%
Cost of revenue
1,875
1,682
1,512
+11.4%
Gross profit
2,724
2,519
2,295
+8.2%
Gross margin
59.2%
60.0%
60.3%
Operating income
1,633
1,403
1,284
+16.4%
Operating margin
35.5%
33.4%
33.7%
Pre-tax income
1,626
1,416
1,293
+14.8%
Income tax
217
308
300
-29.7%
Effective tax rate
13.3%
21.8%
23.2%
Net income
1,410
1,108
993
+27.2%
Net margin
30.7%
26.4%
26.1%
Diluted EPS
$1.32
$1.01
$0.88
+30.0%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,364
1,114
1,162
+22.5%
Capital expenditure
48.7
102
61.9
-52.1%
Free cash flow
1,315
1,012
1,100
+30.0%
Free cash flow margin
28.6%
24.1%
28.9%
Cash from investing
-472
-327
273
Cash from financing
-526
-629
-1,316
Depreciation and amortisation
57.0
60.7
57.0
-6.1%
Share-based compensation
70.3
63.4
57.1
+10.9%
Buybacks
596
707
1,342
-15.7%
Diluted shares, weighted
1,070m
1,093m
1,129m
-2.2%
Shares outstanding at period end
1,056m
1,073m
1,087m
-1.6%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
5,161
4,171
3,611
+23.7%
Debt
0.0
0.0
0.0
Operating lease liabilities
n/a
25.7
n/a
Other liabilities
1,042
953
916
+9.3%
Total liabilities and equity
6,203
5,150
4,527
+20.4%
Fixed assets
315
299
243
+5.4%
Goodwill
1,332
1,332
1,332
0.0%
Intangible assets
1,059
1,052
1,046
+0.7%
Investments
926
546
321
+69.5%
Cash and equivalents
1,180
798
638
+47.9%
Receivables
666
540
485
+23.3%
Inventory
333
361
278
-7.7%
Other assets
392
223
186
+75.9%
Total assets
6,203
5,150
4,527
+20.4%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.