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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-Size Balance Sheet: Assets

Monster Beverage Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash and cash equivalents 23.72 15.76 17.00 19.03 15.49
Short-term investments 9.87 16.43 22.42 14.21 10.35
Accounts receivable, net 12.33 12.25 11.49 10.74 10.49
Inventories 10.03 11.28 7.60 5.37 7.00
Prepaid expenses and other current assets 1.20 1.32 1.06 0.89 1.07
Prepaid income taxes 0.56 0.41 0.43 0.40 0.57
Current assets 57.70% 57.46% 59.99% 50.64% 44.97%
Investments 0.79 0.74 1.27 0.71 0.25
Property and equipment, net 9.20 6.23 4.02 5.07 5.80
Deferred income taxes, net 1.81 2.13 2.89 3.90 1.65
Goodwill 14.64 17.10 17.06 21.47 25.86
Other intangible assets, net 14.73 14.72 13.74 17.07 20.43
Other assets 1.14 1.62 1.03 1.14 1.05
Noncurrent assets 42.30% 42.54% 40.01% 49.36% 55.03%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset composition has transitioned from a noncurrent-asset-heavy structure toward a more liquid profile over the five-year period ending December 31, 2023. Current assets increased from 44.97% of total assets in 2019 to 57.70% in 2023, while noncurrent assets decreased from 55.03% to 42.30% during the same timeframe.

Liquidity and Current Asset Trends
Cash and cash equivalents have seen a marked increase, rising from 15.49% in 2019 to 23.72% in 2023. Short-term investments exhibited significant volatility, peaking at 22.42% in 2021 before declining to 9.87% by the end of 2023. Both accounts receivable and inventories have trended upward as a percentage of total assets, with receivables increasing from 10.49% to 12.33% and inventories rising from 7.00% to 10.03%, indicating an expansion in operational scale or shifts in working capital requirements.
Intangible Asset Reduction
A consistent downward trend is observed in the proportion of intangible assets relative to the total balance sheet. Goodwill decreased from 25.86% in 2019 to 14.64% in 2023. Similarly, other net intangible assets declined from 20.43% to 14.73%. This collective reduction suggests that the relative weight of acquired intangibles is diminishing, likely due to a combination of amortization and the growth of tangible and liquid assets.
Fixed Asset and Noncurrent Investment Trends
Net property and equipment have increased as a percentage of total assets, rising from 5.80% in 2019 to 9.20% in 2023, which points to a higher relative investment in physical infrastructure. Deferred income taxes, net, remained relatively low and stable, fluctuating between a high of 3.90% in 2020 and a low of 1.81% in 2023. Long-term investments have remained a negligible portion of the total asset base, consistently staying below 1.3% throughout the period.

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