Stock Analysis on Net

Monster Beverage Corp. (NASDAQ:MNST)

This company has been moved to the archive! The financial data has not been updated since May 7, 2024.

Common Stock Valuation Ratios (Price Multiples)
Quarterly Data

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Historical Valuation Ratios (Summary)

Monster Beverage Corp., historical price multiples (quarterly data)

Microsoft Excel
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
Price to earnings (P/E) 33.99 37.71 37.31 40.22 48.27 43.49 42.19 39.27 33.85 32.43 31.74 33.86 33.36 32.81 36.85 38.50 31.07 30.25
Price to operating profit (P/OP) 28.33 31.49 30.52 31.70 37.42 32.70 31.87 29.54 25.75 24.86 27.14 28.92 28.67 28.32 28.40 29.67 24.01 23.89
Price to sales (P/S) 7.76 8.61 8.44 8.63 9.63 8.21 8.21 8.01 7.89 8.06 9.13 10.12 10.09 10.06 9.95 10.23 8.10 7.98
Price to book value (P/BV) 6.64 7.47 7.42 7.36 8.45 7.38 7.50 7.07 6.69 6.80 7.76 8.82 8.84 8.96 9.49 10.43 9.03 8.03 7.61 8.35 9.28

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).

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Monster Beverage Corp. P/E ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Monster Beverage Corp. P/OP ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Monster Beverage Corp. P/S ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Monster Beverage Corp. P/BV ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.

Price to Earnings (P/E)

Monster Beverage Corp., historical P/E calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,041,728,228 1,040,636,235 1,040,441,348 1,047,518,325 1,046,711,932 1,044,818,716 1,043,487,224 1,053,770,990 1,059,342,814 1,058,717,720 1,058,278,230 1,057,771,622 1,057,124,434 1,056,274,072 1,055,833,514 1,054,792,890 1,053,127,184 1,073,792,284 1,075,363,368 1,089,758,684 1,087,152,392
Selected Financial Data (US$)
Net income (in thousands) 442,049 366,979 452,694 413,871 397,444 301,674 322,387 273,360 294,203 321,314 337,205 403,762 315,194 471,736 347,654 311,369 278,835 254,954 298,923 292,473 261,485
Earnings per share (EPS)2 1.61 1.57 1.50 1.37 1.24 1.14 1.16 1.16 1.28 1.30 1.44 1.45 1.37 1.33 1.13 1.08 1.07 1.03 0.00 0.00 0.00
Share price1, 3 54.67 59.10 56.14 55.11 59.71 49.60 48.97 45.69 43.34 42.20 45.82 49.24 45.63 43.78 41.63 41.76 33.20 31.21 29.08 31.09 31.56
Valuation Ratio
P/E ratio4 33.99 37.71 37.31 40.22 48.27 43.49 42.19 39.27 33.85 32.43 31.74 33.86 33.36 32.81 36.85 38.50 31.07 30.25
Benchmarks
P/E Ratio, Competitors5
Altria Group Inc. 8.83 8.87 7.93 11.76 15.06 14.42 17.33 45.23 33.20 37.80 29.51 19.72 19.88 18.14 91.35
Coca-Cola Co. 24.76 24.43 22.33 25.69 27.85 27.12 25.88 28.47 27.84 27.63 27.47 30.49 32.01 27.91 26.14 22.66 19.48 28.21
PepsiCo Inc. 25.63 25.40 27.27 32.68 39.71 26.71 24.02 25.33 23.57 30.58 25.66 25.76 26.23 26.15 27.64 27.27 26.13 27.83
Philip Morris International Inc. 18.54 17.69 17.38 19.02 17.50 17.54 15.87 16.58 17.60 18.37 16.43 17.54 17.03 16.55 14.43 16.76 15.71 18.94

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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
EPS = (Net incomeQ1 2024 + Net incomeQ4 2023 + Net incomeQ3 2023 + Net incomeQ2 2023) ÷ No. shares of common stock outstanding
= (442,049,000 + 366,979,000 + 452,694,000 + 413,871,000) ÷ 1,041,728,228 = 1.61

3 Closing price as at the filing date of Monster Beverage Corp. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/E ratio = Share price ÷ EPS
= 54.67 ÷ 1.61 = 33.99

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/E ratio The P/E ratio tells analyst how much an investor in common stock pays per dollar of current earnings. Monster Beverage Corp. P/E ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.

Price to Operating Profit (P/OP)

Monster Beverage Corp., historical P/OP calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,041,728,228 1,040,636,235 1,040,441,348 1,047,518,325 1,046,711,932 1,044,818,716 1,043,487,224 1,053,770,990 1,059,342,814 1,058,717,720 1,058,278,230 1,057,771,622 1,057,124,434 1,056,274,072 1,055,833,514 1,054,792,890 1,053,127,184 1,073,792,284 1,075,363,368 1,089,758,684 1,087,152,392
Selected Financial Data (US$)
Operating income (in thousands) 541,991 433,959 510,527 523,805 485,064 394,351 417,930 372,951 399,489 412,882 444,464 525,975 414,146 402,300 458,601 407,264 364,988 317,045 395,443 378,990 311,461
Operating profit per share2 1.93 1.88 1.84 1.74 1.60 1.52 1.54 1.55 1.68 1.70 1.69 1.70 1.59 1.55 1.47 1.41 1.38 1.31 0.00 0.00 0.00
Share price1, 3 54.67 59.10 56.14 55.11 59.71 49.60 48.97 45.69 43.34 42.20 45.82 49.24 45.63 43.78 41.63 41.76 33.20 31.21 29.08 31.09 31.56
Valuation Ratio
P/OP ratio4 28.33 31.49 30.52 31.70 37.42 32.70 31.87 29.54 25.75 24.86 27.14 28.92 28.67 28.32 28.40 29.67 24.01 23.89
Benchmarks
P/OP Ratio, Competitors5
Altria Group Inc. 6.52 6.25 6.00 6.92 7.14 6.97 6.88 6.79 8.50 8.09 7.18 7.71 7.68 7.45 6.26 7.36 7.00 7.65
Coca-Cola Co. 26.48 23.14 21.65 24.70 25.28 23.72 24.45 26.41 26.11 26.19 22.06 23.74 24.74 24.03 24.68 23.08 19.45 24.95
PepsiCo Inc. 19.50 19.23 20.33 24.69 29.45 20.67 17.60 17.90 16.97 20.87 18.28 18.75 18.78 18.47 19.55 19.07 18.53 19.78
Philip Morris International Inc. 12.44 11.96 12.02 13.68 13.05 12.96 11.31 11.81 12.37 12.90 11.42 12.23 11.95 11.43 9.86 11.29 10.67 12.92

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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Operating profit per share = (Operating incomeQ1 2024 + Operating incomeQ4 2023 + Operating incomeQ3 2023 + Operating incomeQ2 2023) ÷ No. shares of common stock outstanding
= (541,991,000 + 433,959,000 + 510,527,000 + 523,805,000) ÷ 1,041,728,228 = 1.93

3 Closing price as at the filing date of Monster Beverage Corp. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= 54.67 ÷ 1.93 = 28.33

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/OP ratio Because P/E ratio is calculated using net income, the ratio can be sensitive to nonrecurring earnings and capital structure, analysts may use price to operating profit. Monster Beverage Corp. P/OP ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.

Price to Sales (P/S)

Monster Beverage Corp., historical P/S calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,041,728,228 1,040,636,235 1,040,441,348 1,047,518,325 1,046,711,932 1,044,818,716 1,043,487,224 1,053,770,990 1,059,342,814 1,058,717,720 1,058,278,230 1,057,771,622 1,057,124,434 1,056,274,072 1,055,833,514 1,054,792,890 1,053,127,184 1,073,792,284 1,075,363,368 1,089,758,684 1,087,152,392
Selected Financial Data (US$)
Net sales (in thousands) 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
Sales per share2 7.05 6.86 6.65 6.39 6.20 6.04 5.96 5.70 5.49 5.23 5.02 4.87 4.52 4.35 4.19 4.08 4.10 3.91 0.00 0.00 0.00
Share price1, 3 54.67 59.10 56.14 55.11 59.71 49.60 48.97 45.69 43.34 42.20 45.82 49.24 45.63 43.78 41.63 41.76 33.20 31.21 29.08 31.09 31.56
Valuation Ratio
P/S ratio4 7.76 8.61 8.44 8.63 9.63 8.21 8.21 8.01 7.89 8.06 9.13 10.12 10.09 10.06 9.95 10.23 8.10 7.98
Benchmarks
P/S Ratio, Competitors5
Altria Group Inc. 3.07 2.95 2.82 3.22 3.38 3.31 3.23 3.11 3.86 3.60 3.14 3.39 3.34 3.10 2.59 3.02 2.82 3.14
Coca-Cola Co. 5.80 5.72 5.34 6.12 6.32 6.02 6.07 6.59 7.15 6.99 6.40 6.76 6.91 6.55 6.51 6.07 5.25 6.75
PepsiCo Inc. 2.56 2.52 2.47 2.86 2.97 2.75 2.79 2.86 2.96 2.93 2.72 2.83 2.76 2.65 2.84 2.76 2.78 3.03
Philip Morris International Inc. 4.11 3.93 4.06 4.61 4.76 5.00 4.38 4.74 5.03 5.33 4.80 5.17 5.06 4.65 3.84 4.19 3.98 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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
Sales per share = (Net salesQ1 2024 + Net salesQ4 2023 + Net salesQ3 2023 + Net salesQ2 2023) ÷ No. shares of common stock outstanding
= (1,899,098,000 + 1,730,108,000 + 1,856,028,000 + 1,854,961,000) ÷ 1,041,728,228 = 7.05

3 Closing price as at the filing date of Monster Beverage Corp. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/S ratio = Share price ÷ Sales per share
= 54.67 ÷ 7.05 = 7.76

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/S ratio An rationale for the P/S ratio is that sales, as the top line in an income statement, are generally less subject to distortion or manipulation than other fundamentals such as EPS or book value. Sales are also more stable than earnings and never negative. Monster Beverage Corp. P/S ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.

Price to Book Value (P/BV)

Monster Beverage Corp., historical P/BV calculation (quarterly data)

Microsoft Excel
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
No. shares of common stock outstanding1 1,041,728,228 1,040,636,235 1,040,441,348 1,047,518,325 1,046,711,932 1,044,818,716 1,043,487,224 1,053,770,990 1,059,342,814 1,058,717,720 1,058,278,230 1,057,771,622 1,057,124,434 1,056,274,072 1,055,833,514 1,054,792,890 1,053,127,184 1,073,792,284 1,075,363,368 1,089,758,684 1,087,152,392
Selected Financial Data (US$)
Stockholders’ equity (in thousands) 8,577,789 8,228,744 7,873,149 7,841,464 7,395,360 7,025,041 6,815,760 6,809,178 6,866,672 6,566,951 6,244,997 5,905,498 5,459,437 5,160,860 4,629,321 4,221,540 3,870,946 4,171,281 4,107,978 4,057,586 3,698,820
Book value per share (BVPS)2 8.23 7.91 7.57 7.49 7.07 6.72 6.53 6.46 6.48 6.20 5.90 5.58 5.16 4.89 4.38 4.00 3.68 3.88 3.82 3.72 3.40
Share price1, 3 54.67 59.10 56.14 55.11 59.71 49.60 48.97 45.69 43.34 42.20 45.82 49.24 45.63 43.78 41.63 41.76 33.20 31.21 29.08 31.09 31.56
Valuation Ratio
P/BV ratio4 6.64 7.47 7.42 7.36 8.45 7.38 7.50 7.07 6.69 6.80 7.76 8.82 8.84 8.96 9.49 10.43 9.03 8.03 7.61 8.35 9.28
Benchmarks
P/BV Ratio, Competitors5
Altria Group Inc. 27.52 29.61 28.54 21.36 13.59 11.15 12.69 7.93 6.26 6.83
Coca-Cola Co. 10.10 10.09 9.14 10.38 10.90 10.73 11.26 11.85 11.55 11.74 10.91 11.07 11.35 11.20 11.70 11.91 10.75 13.26 12.50 12.48 11.51
PepsiCo Inc. 12.36 12.45 12.02 14.60 15.34 13.88 12.30 12.61 13.16 14.52 13.16 13.82 14.10 13.84 14.43 14.95 14.05 13.76 13.61 13.20 12.54
Philip Morris International Inc.

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 Data adjusted for splits and stock dividends.

2 Q1 2024 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= 8,577,789,000 ÷ 1,041,728,228 = 8.23

3 Closing price as at the filing date of Monster Beverage Corp. Quarterly or Annual Report.

4 Q1 2024 Calculation
P/BV ratio = Share price ÷ BVPS
= 54.67 ÷ 8.23 = 6.64

5 Click competitor name to see calculations.

Valuation ratio Description The company
P/BV ratio The P/BV ratio is interpreted as an indicator of market judgment about the relationship between a company required rate of return and its actual rate of return. Monster Beverage Corp. P/BV ratio increased from Q3 2023 to Q4 2023 but then decreased significantly from Q4 2023 to Q1 2024.