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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: Liabilities and Stockholders’ Equity
Quarterly Data

Monster Beverage Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Accounts payable 5.29 5.83 5.80 6.14 5.55 5.36 6.34 6.03 5.35 5.18 5.32 5.13 5.11 4.79 4.94 5.04 6.26 5.32 5.93 5.76 5.75
Accrued liabilities 2.03 1.90 2.23 2.14 2.78 2.09 2.42 2.56 2.86 2.70 2.43 2.44 2.62 2.30 2.96 2.75 2.97 2.21 2.19 2.46 2.74
Accrued promotional allowances 3.16 2.78 3.18 3.06 3.48 3.08 3.43 3.40 3.31 2.71 3.12 3.22 3.02 3.01 3.52 3.22 3.51 3.24 3.84 3.92 3.60
Deferred revenue 0.43 0.43 0.43 0.46 0.50 0.52 0.52 0.54 0.52 0.54 0.61 0.66 0.70 0.73 0.80 0.86 0.92 0.86 0.85 0.86 0.94
Accrued compensation 0.52 0.90 0.82 0.61 0.48 0.87 0.75 0.66 0.46 0.84 0.73 0.66 0.47 0.89 0.80 0.69 0.45 0.92 0.70 0.58 0.39
Income taxes payable 0.74 0.15 0.19 0.14 0.62 0.16 0.21 0.19 0.26 0.39 0.31 0.44 0.15 0.38 0.56 0.43 0.26 0.29 0.40 0.30 0.13
Current liabilities 12.17% 11.99% 12.66% 12.55% 13.43% 12.08% 13.67% 13.38% 12.76% 12.37% 12.51% 12.55% 12.07% 12.09% 13.58% 12.99% 14.37% 12.84% 13.90% 13.88% 13.55%
Deferred revenue 1.97 2.11 2.25 2.32 2.48 2.70 2.76 2.84 2.91 3.12 3.30 3.56 3.94 4.26 4.71 5.25 5.70 5.58 5.69 5.87 6.51
Other liabilities 0.92 0.95 0.57 0.48 0.47 0.51 0.50 0.49 0.47 0.38 0.36 0.37 0.43 0.44 0.46 0.47 0.63 0.59 0.45 0.45 0.49
Noncurrent liabilities 2.89% 3.06% 2.82% 2.80% 2.96% 3.21% 3.26% 3.33% 3.38% 3.49% 3.65% 3.94% 4.38% 4.71% 5.17% 5.73% 6.33% 6.17% 6.13% 6.32% 7.00%
Total liabilities 15.06% 15.05% 15.47% 15.35% 16.38% 15.29% 16.93% 16.71% 16.13% 15.86% 16.17% 16.49% 16.45% 16.80% 18.75% 18.72% 20.70% 19.01% 20.04% 20.19% 20.56%
Common stock, $0.005 par value 0.06 0.06 0.06 0.06 0.06 0.04 0.04 0.04 0.04 0.04 0.04 0.05 0.05 0.05 0.06 0.06 0.07 0.06 0.06 0.06 0.07
Additional paid-in capital 49.86 51.36 52.54 52.57 54.60 57.64 57.72 57.58 57.08 59.61 62.10 65.01 69.83 73.16 79.22 86.15 90.72 85.38 85.07 85.56 92.11
Retained earnings 63.20 61.32 59.83 55.27 53.21 108.54 106.03 102.47 98.98 100.06 100.52 101.12 103.26 103.70 104.61 108.06 108.60 97.52 92.80 87.89 89.70
Accumulated other comprehensive income (loss) -1.56 -1.29 -2.13 -1.68 -1.67 -1.92 -2.74 -1.87 -0.88 -0.89 -0.58 -0.24 -0.38 0.05 -0.57 -1.03 -1.28 -0.63 -0.84 -0.57 -0.73
Common stock in treasury, at cost -26.61 -26.49 -25.77 -21.57 -22.59 -79.59 -77.99 -74.93 -71.35 -74.69 -78.25 -82.43 -89.20 -93.76 -102.07 -111.97 -118.80 -101.34 -97.13 -93.14 -101.70
Stockholders’ equity 84.94% 84.95% 84.53% 84.65% 83.62% 84.71% 83.07% 83.29% 83.87% 84.14% 83.83% 83.51% 83.55% 83.20% 81.25% 81.28% 79.30% 80.99% 79.96% 79.81% 79.44%
Total liabilities and stockholders’ equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

The financial structure of the organization exhibits a consistent trend toward deleveraging, characterized by a gradual reduction in total liabilities and a corresponding increase in the proportion of stockholders' equity over the period from March 31, 2019, to March 31, 2024.

Liability Structure and Trends
Total liabilities have decreased from 20.56% of total liabilities and stockholders' equity in March 2019 to 15.06% by March 2024. This contraction is primarily driven by a significant decline in noncurrent liabilities, which fell from 7.00% to 2.89% over the analyzed timeframe.
Current liabilities have remained relatively stable, fluctuating between a high of 14.37% in March 2020 and a low of 11.99% in December 2023. Accounts payable, the largest component of current liabilities, generally fluctuated between 4.8% and 6.3%, indicating a consistent approach to managing short-term vendor obligations.
A notable downward trend is observed in deferred revenue, which decreased from 6.51% in March 2019 to 1.97% in March 2024, suggesting a change in the timing of revenue recognition or a decrease in advance payments received.
Stockholders' Equity Analysis
Stockholders' equity has expanded its share of the balance sheet from 79.44% in March 2019 to 84.94% in March 2024, signaling an increase in the company's solvency and a reduced reliance on external financing.
A significant structural shift in equity components occurred between December 31, 2022, and March 31, 2023. During this transition, the percentage of additional paid-in capital decreased from 57.64% to 54.60%, and common stock in treasury shifted from -79.59% to -22.59%. Concurrently, retained earnings adjusted from 108.54% to 53.21%. Despite these internal reclassifications, the total stockholders' equity remained stable, continuing its long-term upward trajectory.
Working Capital Components
Accrued promotional allowances and accrued liabilities have remained relatively consistent, with promotional allowances generally hovering between 2.7% and 3.9%. This suggests that promotional spending as a percentage of the total capital structure is managed within a tight range.
Income taxes payable exhibit high quarterly volatility, peaking at 0.74% in March 2024, which is typical for tax-related obligations that fluctuate based on payment schedules and quarterly earnings.

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