Monster Beverage (MNST) FY2023 results: revenue $7.1 billion, up 13.1% on the year
Monster Beverage Corp. (MNST) reported revenue of $7.1 billion for fiscal 2023, the year ended 31 December 2023, up 13.1% on the year before. Net income was $1.6 billion, up 36.9%, and diluted earnings per share $0.77. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.
Revenue
$7.1 billion
+13.1% on the year
FY2016FY2023
Operating margin
27.4%
25.1% a year earlier
FY2016FY2023
Net income
$1.6 billion
+36.9% on the year
FY2016FY2023
Diluted EPS
$0.77
-30.9% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,718
888
1,156
+93.5%
Capital expenditure
221
189
43.9
+17.3%
Free cash flow
1,496
699
1,112
+114.1%
Free cash flow margin
21.0%
11.1%
20.1%
Cash from investing
-193
-161
-992
Cash from financing
-543
-707
34.8
Depreciation and amortisation
68.9
61.2
50.2
+12.5%
Share-based compensation
68.8
64.1
70.5
+7.4%
Buybacks
659
771
13.8
-14.5%
Diluted shares, weighted
2,116m
1,066m
1,071m
+98.4%
Shares outstanding at period end
2,083m
1,045m
1,059m
+99.4%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
8,229
7,025
6,567
+17.1%
Debt
0.0
0.0
0.0
Operating lease liabilities
48.5
29.6
n/a
+63.8%
Finance lease liabilities
0.0
0.0
n/a
-53.7%
Other liabilities
1,409
1,238
1,238
+13.8%
Total liabilities and equity
9,687
8,293
7,805
+16.8%
Fixed assets
891
517
314
+72.3%
Goodwill
1,418
1,418
1,332
0.0%
Intangible assets
1,427
1,220
1,072
+16.9%
Investments
1,032
1,424
1,849
-27.5%
Cash and equivalents
2,298
1,307
1,326
+75.8%
Receivables
1,194
1,016
897
+17.5%
Inventory
971
936
593
+3.8%
Other assets
456
455
421
+0.1%
Total assets
9,687
8,293
7,805
+16.8%
10-K for the year ended 31 December 2023, filed 29 February 2024: the filing.