Monster Beverage (MNST) FY2024 results: revenue $7.5 billion, up 4.9% on the year
Monster Beverage Corp. (MNST) reported revenue of $7.5 billion for fiscal 2024, the year ended 31 December 2024, up 4.9% on the year before. Net income was $1.5 billion, down 7.5%, and diluted earnings per share $0.74. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.
Revenue
$7.5 billion
+4.9% on the year
FY2017FY2024
Operating margin
25.8%
27.4% a year earlier
FY2017FY2024
Net income
$1.5 billion
-7.5% on the year
FY2017FY2024
Diluted EPS
$0.74
-3.2% on the year
FY2017FY2024
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
FY2024
FY2023
FY2022
On the year
Last 8 years
Operating cash flow
1,929
1,718
888
+12.3%
Capital expenditure
264
221
189
+19.3%
Free cash flow
1,664
1,496
699
+11.2%
Free cash flow margin
22.2%
21.0%
11.1%
Cash from investing
734
-193
-161
Cash from financing
-3,329
-543
-707
Depreciation and amortisation
80.4
68.9
61.2
+16.7%
Share-based compensation
91.0
68.8
64.1
+32.2%
Buybacks
3,772
659
771
+472.4%
Diluted shares, weighted
2,026m
2,116m
1,066m
-4.2%
Shares outstanding at period end
1,946m
2,083m
1,045m
-6.6%
Balance sheet
$ million
FY2024
FY2023
FY2022
On the year
Last 8 years
Shareholders' equity
5,958
8,229
7,025
-27.6%
Debt
374
0.0
0.0
Operating lease liabilities
43.9
48.5
29.6
-9.5%
Finance lease liabilities
0.0
0.0
0.0
+100.0%
Other liabilities
1,344
1,409
1,238
-4.7%
Total liabilities and equity
7,719
9,687
8,293
-20.3%
Fixed assets
1,047
891
517
+17.5%
Goodwill
1,332
1,418
1,418
-6.1%
Intangible assets
1,414
1,427
1,220
-0.9%
Investments
0.0
1,032
1,424
Cash and equivalents
1,533
2,298
1,307
-33.3%
Receivables
1,222
1,194
1,016
+2.3%
Inventory
737
971
936
-24.1%
Other assets
434
456
455
-4.7%
Total assets
7,719
9,687
8,293
-20.3%
10-K for the year ended 31 December 2024, filed 28 February 2025: the filing.