At a glance
Monster Beverage Corp is worth $47.04B. Revenue grew 10.7% to $8.29B in fiscal 2025, with 23.0% kept as profit; over 5 years it has grown 12.5% a year. It pays no dividend; it spent $5.32B buying back its shares over FY2021–FY2025. The stock returned +43.7% over the past year with dividends reinvested and +17.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 27.6% in the 2020 crash (S&P 500: 33.7%) and 25.8% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 2 months and 4 months after the lows.
The business in plain English
Monster Beverage, based in Corona, California, develops and markets energy drinks. Its lineup includes Monster Energy, Reign, Bang Energy, NOS, Burn, Mother, Full Throttle and the low-price Predator and Fury brands. A smaller business sells craft beers, hard seltzers and flavored malt beverages (beer-style alcoholic drinks flavored like lemonade or tea), with brands such as Jai Alai IPA, Dale's Pale Ale and Blind Lemon.
Bottlers and contract packers make most of its drinks. It reports four segments. Monster Energy Drinks, including Reign and Bang, sells finished drinks mostly to bottlers and distributors. Strategic Brands is built mainly on brands acquired from The Coca-Cola Company in 2015. It mainly sells concentrates: flavor bases that bottlers mix with sweeteners and water, then package. Concentrates bring in less revenue per case than finished drinks but a higher gross margin (the share of sales left after production costs). Alcohol Brands sells mostly to US beer distributors, with lower margins than the Monster Energy Drinks segment. The Other segment sells products from its flavor-making subsidiary, American Fruits and Flavors, to outside customers.
Revenue was about $8.3 billion in the fiscal year ended December 31, 2025. The US and Canada supplied 61.2% of it, Europe, the Middle East and Africa 22.9%, Latin America and the Caribbean 8.4%, and Asia Pacific 7.5%.
Price history
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MNST +43.7% over the year to Nov 2, 2026, total return with dividends reinvested.
How it makes money
By geography
| U.s.And Canada | $5.07B | 61.2% |
| EMEA | $1.90B | 22.9% |
| Latin America And Caribbean | $698.0M | 8.4% |
| Asia Pacific | $624.1M | 7.5% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $2.54B, up 20.2% from a year earlier, and net income was $584.5M (+19.6%).
- For fiscal 2025, revenue was $8.29B (+10.7% year over year; +12.5% a year from FY2020 to FY2025) with a 23% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +12.5% good |
|---|---|
| Operating margin | 29.2% good |
| Free cash flow margin | 23.7% good |
| Return on equity (FY2025) | 23.1% good |
| Return on assets (FY2025) | 19.1% good |
| Net cash (cash minus debt) | $4.00B good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $4.60B | $1.41B | $1.32B |
| FY2021 | $5.54B | $1.38B | $1.11B |
| FY2022 | $6.31B | $1.19B | $699.0M |
| FY2023 | $7.14B | $1.63B | $1.50B |
| FY2024 | $7.49B | $1.51B | $1.66B |
| FY2025 | $8.29B | $1.91B | $1.97B |
Valuation snapshot
| Market value | $47.04B |
|---|---|
| P/E ratio | — |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Monster Beverage’s market value went from $12.66B at the end of 2016 to $47.04B on Nov 2, 2026, about 3.7 times as much; since the end of 2025 it is up 26%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Nov 2, 2026 | $47.04B | +25.6% |
| 2025 | $37.45B | +46.5% |
| 2024 | $25.56B | -14.7% |
| 2023 | $29.97B | +13.2% |
| 2022 | $26.49B | +4.2% |
| 2021 | $25.41B | +4.1% |
| 2020 | $24.41B | +42.9% |
| 2019 | $17.08B | +25.5% |
| 2018 | $13.61B | -23.7% |
| 2017 | $17.85B | +41.0% |
| 2016 | $12.66B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| MNST price data to Nov 2, 2026 | +25.3% | +43.7% | +22.2% | +17.5% | +14.9% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +25.3% |
| 2025 | +45.9% |
| 2024 | -8.8% |
| 2023 | +13.5% |
| 2022 | +5.7% |
| 2021 | +3.9% |
| 2020 | +45.5% |
| 2019 | +29.1% |
| 2018 | -22.2% |
| 2017 | +42.7% |
| 2016 | -10.7% |
| 2015 | +37.5% |
| 2014 | +59.9% |
| 2013 | +28.3% |
| 2012 | +14.7% |
| 2011 | +76.2% |
| 2010 | +36.1% |
| 2009 | +14.5% |
| 2008 | -24.3% |
| 2007 | +31.5% |
| 2006 | +70.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 44.7% over that stretch · deepest drop along the way 69.2%, back to its old high 30.7 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 27.3% over that stretch · deepest drop along the way 27.6%, back to its old high 2.1 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 7.2% over that stretch · deepest drop along the way 25.8%, back to its old high 4.2 months after the low |
Insider activity
Form 4 filings from 2025-10-27 to 2026-10-27 (25 read): 0 open-market purchases and 5 sales ($15.5M).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 13, 2026 | Emelie Tirre Chief Strategy Officer | sell | $7.6M |
| May 14, 2026 | Mark J Hall Director | sell | $4.6M |
| Jun 10, 2026 | Guy Carling CEO, EMEA and OSP | sell | $1.7M |
| May 14, 2026 | Emelie Tirre Chief Strategy Officer | sell | $857K |
| May 13, 2026 | Thomas J Kelly Chief Financial Officer | sell | $615K |
Who owns it
Large shareholders (13G filings)
| Vanguard Capital Management | 5.36% | Mar 31, 2026 |
| AllianceBernstein L.P. | 4% | Mar 31, 2025 |
ETFs with the most weight in MNST
| PBJ Invesco Food & Beverage ETF | 5.73% |
| WBIL WBI BullBear Quality 3000 ETF | 5.22% |
| LSGR Natixis Loomis Sayles Focused Growth ETF | 4.56% |
| JXX Janus Henderson Transformational Growth ETF | 4.34% |
| FTXG First Trust Nasdaq Food & Beverage ETF | 3.98% |
| LSAT Leadershares Alphafactor Tactical Focused ETF | 3.46% |
| PSL Invesco Dorsey Wright Consumer Staples Momentum ETF | 3.22% |
| RSPS Invesco S&P 500 Equal Weight Consumer Staples ETF | 2.77% |
What could go wrong
- Heavy dependence on Coca-Cola. Monster has extensive commercial arrangements with The Coca-Cola Company, and its 10-K says future performance depends substantially on that relationship. Coca-Cola and insiders could also block a takeover that might benefit other shareholders.
- Most revenue comes from energy drinks. Monster depends on one crowded category. Tougher competition from other energy drinks, or a shift in what people want to drink and where they shop, could slow sales and squeeze profits.
- Outside partners make and deliver the drinks. Monster relies mainly on bottlers and contract packers to produce its drinks, and on bottlers and distributors to get them to stores. Losing good relationships or capacity with these partners could hurt the business.
- Criticism, regulation and lawsuits over energy drinks. Negative views of energy drinks, accurate or not, could hurt demand. Regulators, attorneys general and litigants may challenge ingredients, labeling or marketing, and new rules, lawsuits or recalls could bring significant costs.
- Acquisitions and the move into alcohol. Monster entered alcohol through a 2022 acquisition and acquired Bang Energy in 2023. These deals may not deliver expected benefits, alcohol has its own regulations, and lost value could mean charges against earnings.
- Rising costs for cans, ingredients and tariffs. If Monster cannot pass higher costs for aluminum cans, ingredients, fuel, freight, co-packing or tariffs on to customers, its profit margins could shrink.
Recent events
- Executive or board change
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Other company announcement
- Executive or board change
- Shareholder vote results; Other company announcement
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Monster Beverage does not pay a dividend and paid none in fiscal 2021 through 2025. For an income investor, that means returns come only from share price changes, and raising cash for living expenses would mean selling shares. The company returns cash through buybacks (repurchasing its own shares) instead, spending about $5.3 billion over those five years, including about $3.8 billion in fiscal 2024. The share count fell 7.4% between October 29, 2021 and July 31, 2026, giving each remaining share a bigger slice of profits.
Past downturns hit the stock hard. In the 2008 financial crisis it fell 69.2% from its October 2007 peak to its October 2008 low and did not regain that peak until May 2011. It fell 27.6% in the 2020 COVID crash but recovered within about two months, and it lost 25.8% between January and March 2022 before recovering by July 2022. A single stock carries more risk than a diversified fund.
Questions investors ask
Does Monster Beverage pay a dividend?
No. Monster Beverage does not pay a dividend and paid none in fiscal 2021 through 2025. Instead it returns cash to shareholders by repurchasing its own shares, spending about $5.3 billion on buybacks over those five years. For retirees who rely on portfolio income, any cash from a Monster holding would have to come from selling shares. The stock may suit investors focused on long-term growth rather than regular income.
How does Monster Beverage make money?
Monster makes most of its money selling energy drinks. Its Monster Energy Drinks segment, which includes Reign and Bang, sells finished drinks mainly to bottlers and distributors. Its Strategic Brands segment, including Burn, NOS and Mother, mostly sells concentrates that bottlers turn into packaged drinks. It also sells craft beer, hard seltzer and flavored malt beverages. Revenue was about $8.3 billion in the fiscal year ended December 31, 2025, and 61.2% came from the US and Canada.
What is Monster Beverage's relationship with Coca-Cola?
Coca-Cola is a key partner with significant influence over Monster. In 2015, Monster acquired several energy drink brands from The Coca-Cola Company, which form the core of its Strategic Brands segment, and exited its non-energy drink business. The two companies have extensive commercial arrangements, and Monster's 10-K says its future performance depends substantially on that relationship. The filing also warns that control by insiders or Coca-Cola could prevent a change in control, even one other shareholders might welcome.
How has Monster Beverage stock performed?
The shares have risen over the long run, with sharp drops along the way. As of October 28, 2026, they had gained 31.7% over one year and averaged about 16.6% a year over five years and 14.3% a year over ten years, or 281% in total. Because Monster pays no dividend, these are price changes only. The stock gained 45.9% in calendar 2025 after losing 8.8% in 2024, and it fell 69.2% in the 2008 financial crisis. Past returns do not predict future ones.
Does Monster Beverage have a lot of debt?
No. Monster reported total debt of about $199 million on its March 31, 2025 balance sheet. As of June 30, 2026, it held about $4.2 billion in cash and investments and about $9.4 billion in shareholders' equity (assets minus liabilities). That cash is many times the earlier debt figure, which gives the company room for buybacks and acquisitions. Because the two figures come from different dates, later filings may show a different debt level.