Monster Beverage Corporation stock research
FY2024 Q1
Monster Beverage (MNST) Gross Margin — Quarter Ended Mar 31, 2024
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit improved, and gross margin was slightly lower than the prior quarter but higher than the same quarter last year.
Gross margin takeaway
Quarter ended Mar 31, 2024 · FY2024 Q1
Revenue increased compared to both the prior quarter and the same quarter last year, while cost of revenue also rose. Gross profit improved, and gross margin was slightly lower than the prior quarter but higher than the same quarter last year.
- Gross profit grew at a faster pace than cost of revenue relative to the year-ago quarter, supporting margin expansion. The sequential decline in gross margin was minimal, indicating stable cost efficiency.
- Compared to the prior quarter, revenue and gross profit were higher, but gross margin weakened slightly. Versus the same quarter last year, all three metrics—revenue, gross profit, and gross margin—were higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
54.1%
Gross profit
$1.0B
Revenue
$1.9B
Cost of revenue
$872.0M
Quarter-over-quarter change
-0.2 pts
Year-over-year change
+1.2 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Jun 30, 2023 | $1.9B | $974.2M | $880.7M | 52.5% |
| Sep 30, 2023 | $1.9B | $983.8M | $872.3M | 53.0% |
| Dec 31, 2023 | $1.7B | $938.4M | $791.7M | 54.2% |
| Mar 31, 2024 | $1.9B | $1.0B | $872.0M | 54.1% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2023
-0.2 pts
Year-over-year change
Mar 31, 2023
+1.2 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit grew at a faster pace than cost of revenue relative to the year-ago quarter, supporting margin expansion. The sequential decline in gross margin was minimal, indicating stable cost efficiency.
Compared to the prior quarter, revenue and gross profit were higher, but gross margin weakened slightly. Versus the same quarter last year, all three metrics—revenue, gross profit, and gross margin—were higher.
Monitor the trajectory of cost of revenue relative to revenue, as its growth rate may influence future gross margin stability.