Income Statement
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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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Monster Beverage Corp., consolidated income statement
US$ in thousands
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).
- Net Sales
- There is a consistent upward trend in net sales over the five-year period, rising from approximately $4.2 billion in 2019 to $7.1 billion in 2023. The growth is steady each year, indicating expanding revenue generation.
- Cost of Sales
- The cost of sales has increased in line with net sales, moving from about $1.68 billion in 2019 to roughly $3.35 billion in 2023. The increment suggests rising production or procurement expenses, consistent with the company's expanding operations.
- Gross Profit
- Gross profit shows positive growth, climbing from approximately $2.52 billion in 2019 to $3.79 billion in 2023. Although the increase is substantial, the growth rate is somewhat slower than net sales, reflecting the impact of rising costs on profitability at the gross level.
- Operating Expenses
- Operating expenses exhibit an upward trajectory, increasing from about $1.12 billion in 2019 to $1.84 billion in 2023. The rise suggests higher spending on administrative, selling, or general expenses, possibly to support growth initiatives or increased operational scale.
- Operating Income
- Operating income generally trends upward from approximately $1.40 billion in 2019, peaking at around $1.80 billion in 2021, followed by a decline in 2022 to about $1.58 billion, then recovering to $1.95 billion in 2023. This pattern may indicate volatility in operational efficiency or the impact of fluctuating operating expenses.
- Interest on Finance Lease Liabilities
- Interest expenses on finance lease liabilities remain low from 2019 to 2022 but show a significant increase in 2023 to $255 thousand. This spike may reflect changes in lease agreements or increased lease-related financing costs in the most recent year.
- Other Income (Expense), Net
- This item fluctuates over the period, with small positive or negative values from 2019 through 2022, including a notable negative amount in 2020 and 2022. In 2023, a substantial positive amount of about $115 million is recorded, indicating a significant non-operating income or gain in that year.
- Income Before Provision for Income Taxes
- Pre-tax income generally increases from $1.42 billion in 2019 to $2.07 billion in 2023, mirroring trends in operating income and other income exclusions. The dip in 2022 corresponds to the lower operating income that year but recovers strongly in 2023.
- Provision for Income Taxes
- Tax provisions fluctuate, with a low in 2020 ($217 million) and peaks over $400 million in 2021 and 2023. The variability suggests changes in taxable income levels or tax rates applied, and the increase corresponds to periods of higher pre-tax income.
- Net Income
- Net income demonstrates growth from about $1.11 billion in 2019 to over $1.63 billion in 2023. It peaks in 2020, slightly declines in the subsequent two years, then rises significantly in 2023. The fluctuations reflect the interplay of operating income, other income, interest expenses, and tax provisions.