Enterprise Value to FCFF (EV/FCFF)
Free Cash Flow to The Firm (FCFF)
Monster Beverage Corp., FCFF calculation
US$ in thousands
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).
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Monster Beverage Corp. suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Monster Beverage Corp. FCFF decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level. |
Interest Paid, Net of Tax
Monster Beverage Corp., interest paid, net of tax calculation
US$ in thousands
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).
2 2023 Calculation
Cash paid during the year for interest, tax = Cash paid during the year for interest × EITR
= 363 × 21.15% = 77
Enterprise Value to FCFF Ratio, Current
Monster Beverage Corp., current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in thousands) | |
| Enterprise value (EV) | 53,704,468) |
| Free cash flow to the firm (FCFF) | 1,485,835) |
| Valuation Ratio | |
| EV/FCFF | 36.14 |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| Coca-Cola Co. | 54.89 |
| Mondelēz International Inc. | 27.25 |
| PepsiCo Inc. | 27.71 |
| Philip Morris International Inc. | 23.42 |
| EV/FCFF, Sector | |
| Food, Beverage & Tobacco | 29.28 |
| EV/FCFF, Industry | |
| Consumer Staples | 39.46 |
Based on: 10-K (reporting date: 2023-12-31).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Monster Beverage Corp., historical EV/FCFF 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) | ||||||
| Enterprise value (EV)1 | 58,254,789) | 49,154,351) | 41,602,700) | 44,182,735) | 32,183,522) | |
| Free cash flow to the firm (FCFF)2 | 1,485,835) | 677,186) | 1,099,718) | 1,297,922) | 1,004,853) | |
| Valuation Ratio | ||||||
| EV/FCFF3 | 39.21 | 72.59 | 37.83 | 34.04 | 32.03 | |
| Benchmarks | ||||||
| EV/FCFF, Competitors4 | ||||||
| Coca-Cola Co. | 26.54 | 27.95 | 25.28 | 26.04 | — | |
| Mondelēz International Inc. | 31.39 | 34.05 | 31.98 | 30.11 | — | |
| PepsiCo Inc. | 28.63 | 40.39 | 33.08 | 30.09 | — | |
| Philip Morris International Inc. | 20.71 | 19.53 | 16.35 | 16.31 | — | |
| EV/FCFF, Sector | ||||||
| Food, Beverage & Tobacco | 26.10 | 28.47 | 24.71 | 24.26 | — | |
| EV/FCFF, Industry | ||||||
| Consumer Staples | 30.26 | 30.41 | 20.99 | 23.37 | — | |
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).
3 2023 Calculation
EV/FCFF = EV ÷ FCFF
= 58,254,789 ÷ 1,485,835 = 39.21
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Monster Beverage Corp. EV/FCFF ratio increased from 2021 to 2022 but then slightly decreased from 2022 to 2023 not reaching 2021 level. |