Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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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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Monster Beverage Corp., consolidated income statement (quarterly data)
US$ in thousands
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 data indicates several noteworthy trends across the analyzed periods.
- Net Sales
- Net sales experienced a general upward trend from March 2019 to March 2024, starting at approximately $946 million and increasing to nearly $1.9 billion by the end of the period. There were fluctuations within quarters, including a significant rise in mid-2021 followed by some variability. The growth reflects an overall expansion in the company’s revenue-generating capacity.
- Cost of Sales
- Costs of sales followed a generally increasing trend, rising from around $372 million in March 2019 to $872 million in March 2024. Notable peaks appeared near mid-2022, and costs exhibited some volatility towards the end of the period. Despite rises in cost, the change remained proportionate to net sales increments, suggesting controlled cost management relative to sales growth.
- Gross Profit
- Gross profit showed consistent growth, increasing from roughly $574 million to over $1.02 billion by March 2024. Peaks in gross profit corresponded to periods when net sales were high and cost of sales did not increase as sharply, indicating effective margin preservation. Overall, the data reflects an ability to maintain profitability at the gross margin level despite cost fluctuations.
- Operating Expenses
- Operating expenses rose steadily from about $262 million to $485 million over the time frame. There was a gradual increase in expenses, with few marked deviations. This suggests the company incurred higher costs in administration, sales, or research activities, consistent with revenue growth, but the growth rate of operating expenses was less aggressive than that of net sales.
- Operating Income
- Operating income increased from approximately $311 million to roughly $542 million by March 2024, with noticeable volatility. There were peaks of operating income especially in mid-2021 and end of 2023, reflecting periods where operating efficiency or sales growth outweighed expense increases. However, dips occurred, especially in late 2019 and parts of 2022, signifying challenges in maintaining operating margins consistently.
- Interest and Other Income (Expense), Net
- This line showed considerable fluctuations including negative values in 2020 and early 2022, and spikes of positive income in late 2023 and early 2024. Such volatility in non-operating income indicates an inconsistent impact of financing activities or other income/expense items, which affected net profitability sporadically.
- Income Before Provision for Income Taxes
- Income before taxes broadly followed operating income trends, increasing from about $314 million in early 2019 to approximately $578 million in early 2024. The pattern mirrors operating income combined with the irregular interest and other income (expense), reflecting the operational and non-operational performance of the company.
- Provision for Income Taxes
- Tax provisions varied widely, with some quarters showing negative values (implying tax benefits or adjustments). Over time, tax expenses generally increased in absolute terms but displayed considerable quarterly volatility. The variability might be linked to changes in pre-tax income, tax planning strategies, or regulatory factors affecting the effective tax rate.
- Net Income
- Net income grew from approximately $261 million to $442 million by March 2024, exhibiting overall positive growth with fluctuation in between. Noteworthy is the strong surge in late 2020, followed by some decline and recovery phases, aligned with trends in operating income and tax provisions. This growth evidences the company's enhanced ability to convert revenues into bottom-line profit despite some periods of volatility.