Analysis of Short-term (Operating) Activity Ratios
Quarterly Data
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Short-term Activity Ratios (Summary)
Monster Beverage Corp., short-term (operating) activity ratios (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Monster Beverage Corp. inventory turnover ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Monster Beverage Corp. receivables turnover ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Monster Beverage Corp. payables turnover ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Monster Beverage Corp. working capital turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Monster Beverage Corp. number of days of inventory outstanding deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Monster Beverage Corp. number of days of receivables outstanding improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Monster Beverage Corp. operating cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Monster Beverage Corp. number of days of payables outstanding increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024. |
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Monster Beverage Corp. cash conversion cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Inventory Turnover
Monster Beverage Corp., inventory turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Cost of sales | 871,969) | 791,736) | 872,265) | 880,739) | 801,081) | 728,616) | 790,561) | 875,399) | 741,907) | 657,463) | 621,399) | 625,096) | 528,881) | 505,599) | 509,831) | 434,427) | 424,901) | 406,438) | 460,575) | 442,762) | 372,459) | |||||||
| Inventories | 939,630) | 971,406) | 883,582) | 846,812) | 906,723) | 935,631) | 862,977) | 885,948) | 821,132) | 593,357) | 471,553) | 382,890) | 368,402) | 333,085) | 318,956) | 340,536) | 352,305) | 360,731) | 317,745) | 299,529) | 300,780) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Inventory turnover1 | 3.64 | 3.44 | 3.72 | 3.78 | 3.52 | 3.35 | 3.55 | 3.27 | 3.22 | 4.10 | 4.84 | 5.67 | 5.37 | 5.63 | 5.57 | 5.07 | 4.92 | 4.66 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Inventory Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 5.01 | 5.12 | 5.34 | 5.38 | 5.14 | 5.46 | 6.00 | 5.93 | 5.73 | 5.96 | 6.41 | 4.10 | 3.72 | 3.98 | 4.10 | 3.96 | 3.83 | 3.09 | — | — | — | |||||||
| Coca-Cola Co. | 3.72 | 4.19 | 4.33 | 3.94 | 3.86 | 4.25 | 4.74 | 4.69 | 4.26 | 4.50 | 4.67 | 4.37 | 4.04 | 4.11 | 4.11 | 3.92 | 4.11 | 4.33 | — | — | — | |||||||
| PepsiCo Inc. | 7.57 | 7.85 | 7.59 | 7.01 | 7.22 | 7.77 | 7.83 | 7.26 | 7.95 | 8.53 | 8.11 | 6.82 | 7.10 | 7.62 | 7.43 | 7.01 | 8.49 | 9.03 | — | — | — | |||||||
| Philip Morris International Inc. | 1.31 | 1.20 | 1.31 | 1.25 | 1.10 | 1.15 | 1.54 | 1.41 | 1.19 | 1.15 | 1.20 | 1.11 | 1.05 | 1.00 | 1.20 | 1.11 | 1.16 | 1.14 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Inventory turnover
= (Cost of salesQ1 2024
+ Cost of salesQ4 2023
+ Cost of salesQ3 2023
+ Cost of salesQ2 2023)
÷ Inventories
= (871,969 + 791,736 + 872,265 + 880,739)
÷ 939,630 = 3.64
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Inventory turnover | An activity ratio calculated as cost of goods sold divided by inventory. | Monster Beverage Corp. inventory turnover ratio deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Receivables Turnover
Monster Beverage Corp., receivables turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Net sales | 1,899,098) | 1,730,108) | 1,856,028) | 1,854,961) | 1,698,930) | 1,512,930) | 1,624,286) | 1,655,260) | 1,518,574) | 1,425,045) | 1,410,557) | 1,461,934) | 1,243,816) | 1,196,283) | 1,246,362) | 1,093,896) | 1,062,097) | 1,017,206) | 1,133,577) | 1,104,045) | 945,991) | |||||||
| Accounts receivable, net | 1,370,239) | 1,193,964) | 1,231,188) | 1,333,004) | 1,190,351) | 1,016,203) | 1,051,642) | 1,175,587) | 1,039,780) | 896,658) | 849,157) | 909,169) | 802,509) | 666,012) | 740,813) | 760,433) | 670,570) | 540,330) | 647,983) | 688,197) | 596,661) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Receivables turnover1 | 5.36 | 5.98 | 5.62 | 5.02 | 5.45 | 6.21 | 5.92 | 5.11 | 5.59 | 6.18 | 6.26 | 5.66 | 5.96 | 6.90 | 5.97 | 5.66 | 6.44 | 7.77 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Receivables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 316.10 | 344.83 | 431.91 | 395.05 | 429.71 | 522.83 | 485.38 | 592.47 | 562.37 | 553.47 | 723.94 | 199.99 | 181.90 | 190.90 | 171.23 | 182.78 | 175.79 | 165.20 | — | — | — | |||||||
| Coca-Cola Co. | 10.86 | 13.42 | 12.88 | 11.12 | 9.46 | 12.33 | 10.60 | 9.19 | 8.65 | 11.01 | 9.72 | 9.02 | 8.89 | 10.50 | 8.75 | 8.92 | 8.39 | 9.38 | — | — | — | |||||||
| PepsiCo Inc. | 8.40 | 8.46 | 7.78 | 7.87 | 8.41 | 8.50 | 7.79 | 7.80 | 8.58 | 9.16 | 8.03 | 7.67 | 8.03 | 8.37 | 7.38 | 7.71 | 8.04 | 8.59 | — | — | — | |||||||
| Philip Morris International Inc. | 8.58 | 10.16 | 8.81 | 8.07 | 8.80 | 8.25 | 8.21 | 8.32 | 8.65 | 10.06 | 9.10 | 8.50 | 8.82 | 9.88 | 9.40 | 8.72 | 10.85 | 9.68 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Receivables turnover
= (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
÷ Accounts receivable, net
= (1,899,098 + 1,730,108 + 1,856,028 + 1,854,961)
÷ 1,370,239 = 5.36
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Receivables turnover | An activity ratio equal to revenue divided by receivables. | Monster Beverage Corp. receivables turnover ratio improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Payables Turnover
Monster Beverage Corp., payables turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Cost of sales | 871,969) | 791,736) | 872,265) | 880,739) | 801,081) | 728,616) | 790,561) | 875,399) | 741,907) | 657,463) | 621,399) | 625,096) | 528,881) | 505,599) | 509,831) | 434,427) | 424,901) | 406,438) | 460,575) | 442,762) | 372,459) | |||||||
| Accounts payable | 533,729) | 564,379) | 539,892) | 568,613) | 491,249) | 444,265) | 520,198) | 492,858) | 438,256) | 404,263) | 396,229) | 362,900) | 334,076) | 296,800) | 281,522) | 261,969) | 305,529) | 274,045) | 304,773) | 292,627) | 267,735) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Payables turnover1 | 6.40 | 5.93 | 6.08 | 5.63 | 6.51 | 7.06 | 5.89 | 5.88 | 6.04 | 6.02 | 5.76 | 5.98 | 5.92 | 6.32 | 6.31 | 6.59 | 5.68 | 6.14 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Payables Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 12.34 | 10.68 | 12.79 | 14.10 | 15.61 | 11.67 | 15.92 | 17.13 | 18.36 | 15.86 | 27.28 | 28.31 | 26.76 | 20.57 | 21.92 | 27.77 | 27.63 | 21.80 | — | — | — | |||||||
| Philip Morris International Inc. | 3.58 | 3.11 | 3.58 | 3.28 | 3.00 | 2.80 | 3.29 | 3.25 | 3.24 | 3.01 | 3.49 | 3.66 | 3.72 | 3.44 | 4.54 | 5.00 | 5.04 | 4.57 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Payables turnover
= (Cost of salesQ1 2024
+ Cost of salesQ4 2023
+ Cost of salesQ3 2023
+ Cost of salesQ2 2023)
÷ Accounts payable
= (871,969 + 791,736 + 872,265 + 880,739)
÷ 533,729 = 6.40
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Payables turnover | An activity ratio calculated as cost of goods sold divided by payables. | Monster Beverage Corp. payables turnover ratio decreased from Q3 2023 to Q4 2023 but then increased from Q4 2023 to Q1 2024 exceeding Q3 2023 level. |
Working Capital Turnover
Monster Beverage Corp., working capital turnover calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||||
| Current assets | 6,035,514) | 5,588,996) | 5,311,515) | 5,654,113) | 5,294,609) | 4,764,897) | 4,696,691) | 4,696,620) | 4,743,666) | 4,682,110) | 4,383,673) | 3,950,675) | 3,433,872) | 3,140,955) | 2,825,847) | 2,371,450) | 2,048,722) | 2,316,309) | 2,360,760) | 2,326,768) | 1,907,300) | |||||||
| Less: Current liabilities | 1,228,828) | 1,161,689) | 1,178,802) | 1,162,580) | 1,187,511) | 1,001,978) | 1,121,717) | 1,093,608) | 1,044,361) | 965,076) | 932,240) | 887,527) | 788,861) | 749,988) | 773,763) | 674,865) | 701,541) | 661,097) | 714,216) | 705,500) | 630,972) | |||||||
| Working capital | 4,806,686) | 4,427,307) | 4,132,713) | 4,491,533) | 4,107,098) | 3,762,919) | 3,574,974) | 3,603,012) | 3,699,305) | 3,717,034) | 3,451,433) | 3,063,148) | 2,645,011) | 2,390,967) | 2,052,084) | 1,696,585) | 1,347,181) | 1,655,212) | 1,646,544) | 1,621,268) | 1,276,328) | |||||||
| Net sales | 1,899,098) | 1,730,108) | 1,856,028) | 1,854,961) | 1,698,930) | 1,512,930) | 1,624,286) | 1,655,260) | 1,518,574) | 1,425,045) | 1,410,557) | 1,461,934) | 1,243,816) | 1,196,283) | 1,246,362) | 1,093,896) | 1,062,097) | 1,017,206) | 1,133,577) | 1,104,045) | 945,991) | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Working capital turnover1 | 1.53 | 1.61 | 1.68 | 1.49 | 1.58 | 1.68 | 1.74 | 1.67 | 1.57 | 1.49 | 1.54 | 1.68 | 1.81 | 1.92 | 2.15 | 2.54 | 3.20 | 2.54 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Working Capital Turnover, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Coca-Cola Co. | 41.66 | 14.47 | 13.02 | 12.70 | 12.35 | 15.00 | 15.68 | 15.83 | 11.91 | 14.90 | 4.58 | 5.07 | 6.14 | 7.12 | 9.51 | 13.61 | — | — | — | — | — | |||||||
| PepsiCo Inc. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 31.12 | — | — | — | — | |||||||
| Philip Morris International Inc. | — | — | — | — | — | — | — | — | — | — | — | 10.52 | 10.81 | 15.29 | 15.02 | 14.70 | 109.05 | 17.73 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Working capital turnover
= (Net salesQ1 2024
+ Net salesQ4 2023
+ Net salesQ3 2023
+ Net salesQ2 2023)
÷ Working capital
= (1,899,098 + 1,730,108 + 1,856,028 + 1,854,961)
÷ 4,806,686 = 1.53
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Working capital turnover | An activity ratio calculated as revenue divided by working capital. | Monster Beverage Corp. working capital turnover ratio deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Average Inventory Processing Period
Monster Beverage Corp., average inventory processing period calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Inventory turnover | 3.64 | 3.44 | 3.72 | 3.78 | 3.52 | 3.35 | 3.55 | 3.27 | 3.22 | 4.10 | 4.84 | 5.67 | 5.37 | 5.63 | 5.57 | 5.07 | 4.92 | 4.66 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average inventory processing period1 | 100 | 106 | 98 | 97 | 104 | 109 | 103 | 112 | 113 | 89 | 75 | 64 | 68 | 65 | 66 | 72 | 74 | 78 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Inventory Processing Period, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 73 | 71 | 68 | 68 | 71 | 67 | 61 | 62 | 64 | 61 | 57 | 89 | 98 | 92 | 89 | 92 | 95 | 118 | — | — | — | |||||||
| Coca-Cola Co. | 98 | 87 | 84 | 93 | 95 | 86 | 77 | 78 | 86 | 81 | 78 | 84 | 90 | 89 | 89 | 93 | 89 | 84 | — | — | — | |||||||
| PepsiCo Inc. | 48 | 46 | 48 | 52 | 51 | 47 | 47 | 50 | 46 | 43 | 45 | 54 | 51 | 48 | 49 | 52 | 43 | 40 | — | — | — | |||||||
| Philip Morris International Inc. | 279 | 305 | 278 | 291 | 330 | 316 | 237 | 259 | 306 | 317 | 305 | 330 | 349 | 366 | 305 | 329 | 316 | 321 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 3.64 = 100
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average inventory processing period | An activity ratio equal to the number of days in the period divided by inventory turnover over the period. | Monster Beverage Corp. number of days of inventory outstanding deteriorated from Q3 2023 to Q4 2023 but then improved from Q4 2023 to Q1 2024 not reaching Q3 2023 level. |
Average Receivable Collection Period
Monster Beverage Corp., average receivable collection period calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Receivables turnover | 5.36 | 5.98 | 5.62 | 5.02 | 5.45 | 6.21 | 5.92 | 5.11 | 5.59 | 6.18 | 6.26 | 5.66 | 5.96 | 6.90 | 5.97 | 5.66 | 6.44 | 7.77 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average receivable collection period1 | 68 | 61 | 65 | 73 | 67 | 59 | 62 | 71 | 65 | 59 | 58 | 64 | 61 | 53 | 61 | 64 | 57 | 47 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Receivable Collection Period, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | — | — | — | |||||||
| Coca-Cola Co. | 34 | 27 | 28 | 33 | 39 | 30 | 34 | 40 | 42 | 33 | 38 | 40 | 41 | 35 | 42 | 41 | 43 | 39 | — | — | — | |||||||
| PepsiCo Inc. | 43 | 43 | 47 | 46 | 43 | 43 | 47 | 47 | 43 | 40 | 45 | 48 | 45 | 44 | 49 | 47 | 45 | 43 | — | — | — | |||||||
| Philip Morris International Inc. | 43 | 36 | 41 | 45 | 41 | 44 | 44 | 44 | 42 | 36 | 40 | 43 | 41 | 37 | 39 | 42 | 34 | 38 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 5.36 = 68
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average receivable collection period | An activity ratio equal to the number of days in the period divided by receivables turnover. | Monster Beverage Corp. number of days of receivables outstanding improved from Q3 2023 to Q4 2023 but then deteriorated significantly from Q4 2023 to Q1 2024. |
Operating Cycle
Monster Beverage Corp., operating cycle calculation (quarterly data)
No. days
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Average inventory processing period | 100 | 106 | 98 | 97 | 104 | 109 | 103 | 112 | 113 | 89 | 75 | 64 | 68 | 65 | 66 | 72 | 74 | 78 | — | — | — | |||||||
| Average receivable collection period | 68 | 61 | 65 | 73 | 67 | 59 | 62 | 71 | 65 | 59 | 58 | 64 | 61 | 53 | 61 | 64 | 57 | 47 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Operating cycle1 | 168 | 167 | 163 | 170 | 171 | 168 | 165 | 183 | 178 | 148 | 133 | 128 | 129 | 118 | 127 | 136 | 131 | 125 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Operating Cycle, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 74 | 72 | 69 | 69 | 72 | 68 | 62 | 63 | 65 | 62 | 58 | 91 | 100 | 94 | 91 | 94 | 97 | 120 | — | — | — | |||||||
| Coca-Cola Co. | 132 | 114 | 112 | 126 | 134 | 116 | 111 | 118 | 128 | 114 | 116 | 124 | 131 | 124 | 131 | 134 | 132 | 123 | — | — | — | |||||||
| PepsiCo Inc. | 91 | 89 | 95 | 98 | 94 | 90 | 94 | 97 | 89 | 83 | 90 | 102 | 96 | 92 | 98 | 99 | 88 | 83 | — | — | — | |||||||
| Philip Morris International Inc. | 322 | 341 | 319 | 336 | 371 | 360 | 281 | 303 | 348 | 353 | 345 | 373 | 390 | 403 | 344 | 371 | 350 | 359 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Operating cycle = Average inventory processing period + Average receivable collection period
= 100 + 68 = 168
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Operating cycle | Equal to average inventory processing period plus average receivables collection period. | Monster Beverage Corp. operating cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |
Average Payables Payment Period
Monster Beverage Corp., average payables payment period calculation (quarterly data)
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Payables turnover | 6.40 | 5.93 | 6.08 | 5.63 | 6.51 | 7.06 | 5.89 | 5.88 | 6.04 | 6.02 | 5.76 | 5.98 | 5.92 | 6.32 | 6.31 | 6.59 | 5.68 | 6.14 | — | — | — | |||||||
| Short-term Activity Ratio (no. days) | ||||||||||||||||||||||||||||
| Average payables payment period1 | 57 | 62 | 60 | 65 | 56 | 52 | 62 | 62 | 60 | 61 | 63 | 61 | 62 | 58 | 58 | 55 | 64 | 59 | — | — | — | |||||||
| Benchmarks (no. days) | ||||||||||||||||||||||||||||
| Average Payables Payment Period, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 30 | 34 | 29 | 26 | 23 | 31 | 23 | 21 | 20 | 23 | 13 | 13 | 14 | 18 | 17 | 13 | 13 | 17 | — | — | — | |||||||
| Philip Morris International Inc. | 102 | 117 | 102 | 111 | 122 | 130 | 111 | 112 | 113 | 121 | 105 | 100 | 98 | 106 | 80 | 73 | 72 | 80 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 6.40 = 57
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Average payables payment period | An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. | Monster Beverage Corp. number of days of payables outstanding increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024. |
Cash Conversion Cycle
Monster Beverage Corp., cash conversion cycle calculation (quarterly data)
No. days
| Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||||||||||||||||||||
| Average inventory processing period | 100 | 106 | 98 | 97 | 104 | 109 | 103 | 112 | 113 | 89 | 75 | 64 | 68 | 65 | 66 | 72 | 74 | 78 | — | — | — | |||||||
| Average receivable collection period | 68 | 61 | 65 | 73 | 67 | 59 | 62 | 71 | 65 | 59 | 58 | 64 | 61 | 53 | 61 | 64 | 57 | 47 | — | — | — | |||||||
| Average payables payment period | 57 | 62 | 60 | 65 | 56 | 52 | 62 | 62 | 60 | 61 | 63 | 61 | 62 | 58 | 58 | 55 | 64 | 59 | — | — | — | |||||||
| Short-term Activity Ratio | ||||||||||||||||||||||||||||
| Cash conversion cycle1 | 111 | 105 | 103 | 105 | 115 | 116 | 103 | 121 | 118 | 87 | 70 | 67 | 67 | 60 | 69 | 81 | 67 | 66 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||
| Cash Conversion Cycle, Competitors2 | ||||||||||||||||||||||||||||
| Altria Group Inc. | 44 | 38 | 40 | 43 | 49 | 37 | 39 | 42 | 45 | 39 | 45 | 78 | 86 | 76 | 74 | 81 | 84 | 103 | — | — | — | |||||||
| Philip Morris International Inc. | 220 | 224 | 217 | 225 | 249 | 230 | 170 | 191 | 235 | 232 | 240 | 273 | 292 | 297 | 264 | 298 | 278 | 279 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
1 Q1 2024 Calculation
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 100 + 68 – 57 = 111
2 Click competitor name to see calculations.
| Short-term activity ratio | Description | The company |
|---|---|---|
| Cash conversion cycle | A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. | Monster Beverage Corp. cash conversion cycle deteriorated from Q3 2023 to Q4 2023 and from Q4 2023 to Q1 2024. |