Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Monster Beverage Corp., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Monster Beverage Corp. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Monster Beverage Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Monster Beverage Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Monster Beverage Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Net Fixed Asset Turnover
Monster Beverage Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | 7,140,027) | 6,311,050) | 5,541,352) | 4,598,638) | 4,200,819) | |
| Property and equipment, net | 890,796) | 516,897) | 313,753) | 314,656) | 298,640) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 8.02 | 12.21 | 17.66 | 14.61 | 14.07 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | 4.95 | 4.37 | 3.90 | 3.06 | 3.44 | |
| Mondelēz International Inc. | 3.72 | 3.49 | 3.32 | 2.94 | 2.96 | |
| PepsiCo Inc. | 3.38 | 3.56 | 3.55 | 3.29 | — | |
| Philip Morris International Inc. | 4.68 | 4.73 | 5.09 | 4.51 | 4.49 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 3.90 | 3.86 | 3.78 | 3.34 | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Staples | 5.16 | 5.21 | 5.06 | 4.37 | — | |
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).
1 2023 Calculation
Net fixed asset turnover = Net sales ÷ Property and equipment, net
= 7,140,027 ÷ 890,796 = 8.02
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Monster Beverage Corp. net fixed asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Monster Beverage Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | 7,140,027) | 6,311,050) | 5,541,352) | 4,598,638) | 4,200,819) | |
| Property and equipment, net | 890,796) | 516,897) | 313,753) | 314,656) | 298,640) | |
| Right-of-use assets for operating leases (included in Other assets) | 58,845) | 38,012) | 23,157) | 22,754) | 31,342) | |
| Property and equipment, net (including operating lease, right-of-use asset) | 949,641) | 554,909) | 336,910) | 337,410) | 329,982) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 7.52 | 11.37 | 16.45 | 13.63 | 12.73 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Coca-Cola Co. | 4.33 | 3.82 | 3.41 | 2.68 | 3.05 | |
| Mondelēz International Inc. | 3.47 | 3.25 | 3.10 | 2.75 | 2.78 | |
| PepsiCo Inc. | 3.05 | 3.24 | 3.25 | 3.05 | — | |
| Philip Morris International Inc. | 4.32 | 4.35 | 4.69 | 4.06 | 4.03 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Food, Beverage & Tobacco | 3.53 | 3.51 | 3.45 | 3.05 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Staples | 4.67 | 4.69 | 4.55 | 3.89 | — | |
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).
1 2023 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net sales ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 7,140,027 ÷ 949,641 = 7.52
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Monster Beverage Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) deteriorated from 2021 to 2022 and from 2022 to 2023. |
Total Asset Turnover
Monster Beverage Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | 7,140,027) | 6,311,050) | 5,541,352) | 4,598,638) | 4,200,819) | |
| Total assets | 9,686,522) | 8,293,105) | 7,804,784) | 6,202,716) | 5,150,352) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.74 | 0.76 | 0.71 | 0.74 | 0.82 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Coca-Cola Co. | 0.47 | 0.46 | 0.41 | 0.38 | 0.43 | |
| Mondelēz International Inc. | 0.50 | 0.44 | 0.43 | 0.39 | 0.40 | |
| PepsiCo Inc. | 0.91 | 0.94 | 0.86 | 0.76 | — | |
| Philip Morris International Inc. | 0.54 | 0.51 | 0.76 | 0.64 | 0.70 | |
| Total Asset Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 0.62 | 0.61 | 0.60 | 0.54 | — | |
| Total Asset Turnover, Industry | ||||||
| Consumer Staples | 1.51 | 1.46 | 1.41 | 1.32 | — | |
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).
1 2023 Calculation
Total asset turnover = Net sales ÷ Total assets
= 7,140,027 ÷ 9,686,522 = 0.74
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Monster Beverage Corp. total asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Equity Turnover
Monster Beverage Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||
| Net sales | 7,140,027) | 6,311,050) | 5,541,352) | 4,598,638) | 4,200,819) | |
| Stockholders’ equity | 8,228,744) | 7,025,041) | 6,566,951) | 5,160,860) | 4,171,281) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 0.87 | 0.90 | 0.84 | 0.89 | 1.01 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Coca-Cola Co. | 1.76 | 1.78 | 1.68 | 1.71 | 1.96 | |
| Mondelēz International Inc. | 1.27 | 1.17 | 1.02 | 0.96 | 0.95 | |
| PepsiCo Inc. | 4.94 | 5.04 | 4.95 | 5.23 | — | |
| Philip Morris International Inc. | — | — | — | — | — | |
| Equity Turnover, Sector | ||||||
| Food, Beverage & Tobacco | 3.39 | 3.26 | 3.12 | 3.32 | — | |
| Equity Turnover, Industry | ||||||
| Consumer Staples | 5.61 | 5.25 | 5.05 | 4.97 | — | |
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).
1 2023 Calculation
Equity turnover = Net sales ÷ Stockholders’ equity
= 7,140,027 ÷ 8,228,744 = 0.87
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Monster Beverage Corp. equity turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |