Monster Beverage (MNST) 10-K Summary — Year Ended Dec 31, 2023
Monster Beverage Corporation is a holding company whose subsidiaries primarily develop and market energy drinks. The company reported revenue growth and strong profitability with positive operating cash flow for the fiscal year.
Key takeaway
Year ended Dec 31, 2023 · FY2025 10-K
Monster Beverage Corporation is a holding company whose subsidiaries primarily develop and market energy drinks. The company reported revenue growth and strong profitability with positive operating cash flow for the fiscal year.
Financial snapshot
Selected annual figures reported with the filing, shown separately from the narrative summary.
Annual revenue
$7.1B
Revenue reported for the fiscal year.
Operating income
$2B
Income from operations reported for the year.
Net income
$1.6B
Net income reported for the year.
Operating cash flow
$1.7B
Cash generated by operating activities.
Annual revenue trend
Reported annual revenue and its change from the preceding fiscal year.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2021 | $5.5B | n/a |
| Dec 31, 2022 | $6.3B | +13.9% |
| Dec 31, 2023 | $7.1B | +13.1% |
Business overview
Based in Corona, California, Monster Beverage Corporation is a holding company that conducts no operating business except through consolidated subsidiaries. Its subsidiaries develop, market, and distribute a wide range of energy drink brands including Monster Energy, Reign, and Bang, as well as craft beers and hard seltzers under the Monster Brewing Company. The company also sells still and sparkling waters under the Monster Tour Water brand.
Financial performance
The company’s net revenue grew for consecutive years, driven by sustained demand for its energy drink products. Operating income and net income remained robust, contributing to strong cash generation from operations.
Material risks
The filing’s risk factors section covers typical business risks such as competition, supply chain disruptions, and regulatory changes, though specific details were not provided in the supplied excerpt. These factors could affect the company’s future performance if they materialize.
Liquidity and capital
The company’s operating cash flow supported its capital requirements, while the filing did not elaborate on specific capital allocation policies or priorities.
What to watch
Investors should monitor the next filing for updates on the growth trajectory of the company’s brewing subsidiary and any shifts in energy drink market share.