Analysis of Inventory
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- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Solvency Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Inventory Disclosure
Monster Beverage Corp., balance sheet: inventory
US$ in thousands
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Raw materials | |||||||||||
| Work in process | |||||||||||
| Finished goods | |||||||||||
| Inventories |
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).
- Raw Materials
- Raw materials inventory values show a significant increase from 2019 to 2022, rising from 134,885 thousand US dollars to 467,392 thousand US dollars. This represents more than a threefold increase over the span of three years. In 2023, however, raw materials decreased to 330,021 thousand US dollars, marking a notable reduction compared to the previous year but still higher than the 2019 and 2020 levels.
- Work in Process
- Work in process inventory data is only reported for 2022 and 2023, with relatively low values of 1,688 and 1,403 thousand US dollars, respectively. The slight decrease from 2022 to 2023 suggests a stable or marginally reduced level of partially completed goods.
- Finished Goods
- Finished goods inventory exhibits a volatile but overall upward trend. After declining from 225,846 thousand US dollars in 2019 to 177,919 thousand US dollars in 2020, it increased again to 243,492 thousand US dollars in 2021, followed by a substantial jump to 466,551 thousand US dollars in 2022. The growth continued into 2023 with finished goods reaching 639,982 thousand US dollars, almost tripling the 2020 value.
- Inventories (Total)
- Total inventories have consistently increased each year, moving from 360,731 thousand US dollars in 2019 to 971,406 thousand US dollars in 2023. This represents an increase of approximately 170% over the period. The sharp rises in 2021 and 2022 particularly stand out, indicating aggressive accumulation of inventory. The growth rate slowed somewhat in 2023 but remains at an elevated level.
- Overall Insights
- The data indicates a general trend of increasing inventory levels across all categories, reflective of expanded operational scale or a strategic decision to hold higher inventory. Raw materials and finished goods both show significant fluctuations but strong growth over the long term. The relatively low and stable work in process inventory suggests efficient conversion of raw materials to finished goods. The substantial rise in finished goods inventory toward 2023 might imply either increasing product output or slower sales velocity, warranting further investigation.