Common-Size Balance Sheet: Assets
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- Statement of Comprehensive Income
- Analysis of Solvency Ratios
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Monster Beverage Corp., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets displayed fluctuations over the observed period. Starting at 15.49% in 2019, there was an increase to 19.03% in 2020, followed by a slight decline in 2021 and 2022. Notably, in 2023, the figure rose significantly to 23.72%, indicating a stronger liquidity position towards the end of the period.
- Short-term Investments
- Short-term investments showed variability, beginning at 10.35% in 2019 and peaking sharply at 22.42% in 2021. Thereafter, the percentage dropped to 16.43% in 2022 and continued downward to 9.87% in 2023, possibly reflecting a strategic reallocation of liquid assets or changes in investment strategy.
- Accounts Receivable, Net
- This category demonstrated a gradual increase from 10.49% in 2019 to 12.33% in 2023, indicating a steady rise in receivables relative to total assets, which may point to growth in sales on credit or changes in collection periods.
- Inventories
- Inventory levels as a percentage of total assets decreased from 7% in 2019 to 5.37% in 2020 but then rose significantly to 11.28% in 2022 before a slight decline to 10.03% in 2023. The upward trend in recent years could indicate increased stock levels to meet demand or anticipate supply chain challenges.
- Prepaid Expenses and Other Current Assets
- This component maintained relatively low and stable percentages throughout the period, fluctuating mildly around 1%, suggesting consistent expense management and asset composition in this category.
- Prepaid Income Taxes
- Prepaid income taxes remained a small portion of total assets, with minor variations between 0.4% and 0.57%, indicating stable tax prepayments during the period.
- Current Assets
- The share of current assets in total assets showed a general increasing trend, starting at 44.97% in 2019, rising to nearly 60% by 2021, before slightly declining and stabilizing around 57.7% in 2023. This reflects a growing emphasis on liquidity and short-term asset holdings.
- Investments
- Investments as a portion of total assets increased from a minimal 0.25% in 2019 to a peak of 1.27% in 2021, then declined slightly to remain below 1% for the remainder of the period, indicating limited long-term investment expansion.
- Property and Equipment, Net
- There was a noticeable increase in the net property and equipment proportion, declining from 5.8% in 2019 to 4.02% in 2021, then rising significantly to 9.2% in 2023. This suggests recent capital expenditures or asset acquisitions aimed at supporting operations.
- Deferred Income Taxes, Net
- The proportion of deferred income taxes increased sharply to 3.9% in 2020, then gradually decreased in subsequent years to 1.81% in 2023, indicating changes in tax timing effects or deferred tax assets/liabilities management.
- Goodwill
- Goodwill consistently decreased as a proportion of total assets, from 25.86% in 2019 to 14.64% in 2023, implying possible impairment charges, divestitures, or a shift in acquisition strategy reducing reliance on goodwill-intensive assets.
- Other Intangible Assets, Net
- Other intangible assets showed a downward trend from 20.43% in 2019 to roughly 14.7% by 2023. This trend aligns with the reduction in goodwill, possibly reflecting amortization or asset revaluation.
- Other Assets
- Other assets remained relatively insignificant and stable, fluctuating slightly around 1% over the period, indicating minimal impact on overall asset composition.
- Noncurrent Assets
- The share of noncurrent assets decreased from 55.03% in 2019 to 40.01% in 2021, followed by a modest recovery to about 42.3% by 2023. This trend reflects a shift in asset structure toward increased current assets.
- Total Assets
- By definition, total assets accounted for 100% in all periods, providing the basis for relative comparisons across asset categories.