Net Profit Margin
since 2005
Calculation
Monster Beverage Corp., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2023 | 22.84% | = | 100 | × | 1,630,988) | ÷ | 7,140,027) |
| Dec 31, 2022 | 18.88% | = | 100 | × | 1,191,624) | ÷ | 6,311,050) |
| Dec 31, 2021 | 24.86% | = | 100 | × | 1,377,475) | ÷ | 5,541,352) |
| Dec 31, 2020 | 30.65% | = | 100 | × | 1,409,594) | ÷ | 4,598,638) |
| Dec 31, 2019 | 26.37% | = | 100 | × | 1,107,835) | ÷ | 4,200,819) |
| Dec 31, 2018 | 26.08% | = | 100 | × | 993,004) | ÷ | 3,807,183) |
| Dec 31, 2017 | 24.36% | = | 100 | × | 820,678) | ÷ | 3,369,045) |
| Dec 31, 2016 | 23.37% | = | 100 | × | 712,685) | ÷ | 3,049,393) |
| Dec 31, 2015 | 20.08% | = | 100 | × | 546,733) | ÷ | 2,722,564) |
| Dec 31, 2014 | 19.60% | = | 100 | × | 483,185) | ÷ | 2,464,867) |
| Dec 31, 2013 | 15.08% | = | 100 | × | 338,661) | ÷ | 2,246,428) |
| Dec 31, 2012 | 16.50% | = | 100 | × | 340,020) | ÷ | 2,060,702) |
| Dec 31, 2011 | 16.80% | = | 100 | × | 286,219) | ÷ | 1,703,230) |
| Dec 31, 2010 | 16.26% | = | 100 | × | 212,029) | ÷ | 1,303,942) |
| Dec 31, 2009 | 18.26% | = | 100 | × | 208,716) | ÷ | 1,143,299) |
| Dec 31, 2008 | 10.45% | = | 100 | × | 108,032) | ÷ | 1,033,780) |
| Dec 31, 2007 | 16.52% | = | 100 | × | 149,406) | ÷ | 904,465) |
| Dec 31, 2006 | 16.17% | = | 100 | × | 97,949) | ÷ | 605,774) |
| Dec 31, 2005 | 17.99% | = | 100 | × | 62,775) | ÷ | 348,886) |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The financial performance from 2005 to 2023 is characterized by consistent and substantial growth in both top-line revenue and bottom-line earnings, with the net profit margin exhibiting three distinct phases of evolution: stability, expansion, and recent volatility.
- Revenue and Earnings Growth
- Net sales demonstrated an uninterrupted upward trajectory, increasing from 348.8 million USD in 2005 to 7.14 billion USD by 2023. This growth was mirrored by net income, which rose from 62.8 million USD to 1.63 billion USD over the same period, indicating a scalable business model.
- Initial Margin Stability and Anomaly (2005–2013)
- During the first nine years of the period, the net profit margin remained relatively stable, generally fluctuating between 15% and 18%. A significant outlier occurred in 2008, where the margin contracted sharply to 10.45%, before recovering to 18.26% in 2009.
- Period of Efficiency Expansion (2014–2020)
- A sustained trend of margin expansion began in 2014, with the net profit margin rising from 19.60% to a peak of 30.65% in 2020. This period represents the highest level of operational efficiency and profitability relative to sales in the analyzed timeframe.
- Recent Contraction and Recovery (2021–2023)
- Following the 2020 peak, a downward trend was observed, with margins falling to 24.86% in 2021 and further declining to 18.88% in 2022. However, a partial recovery is evident in 2023, as the net profit margin increased to 22.84%.
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Comparison to Competitors
Monster Beverage Corp., net profit margin, long-term trends, comparison to competitors
| Monster Beverage Corp. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | |
|---|---|---|---|---|---|
| Dec 31, 2023 | 22.84% | 23.42% | 13.77% | 9.92% | 22.21% |
| Dec 31, 2022 | 18.88% | 22.19% | 8.63% | 10.31% | 28.49% |
| Dec 31, 2021 | 24.86% | 25.28% | 14.97% | 9.59% | 29.00% |
| Dec 31, 2020 | 30.65% | 23.47% | 13.37% | 10.12% | 28.08% |
| Dec 31, 2019 | 26.37% | 23.94% | 14.96% | 10.89% | 24.11% |
| Dec 31, 2018 | 26.08% | 20.20% | 13.03% | 19.35% | 26.70% |
| Dec 31, 2017 | 24.36% | 3.52% | 11.28% | 7.65% | 20.99% |
| Dec 31, 2016 | 23.37% | 15.59% | 6.40% | 10.08% | 26.11% |
| Dec 31, 2015 | 20.08% | 16.60% | 24.52% | 8.65% | 25.65% |
| Dec 31, 2014 | 19.60% | 15.43% | 6.38% | 9.77% | 25.17% |
| Dec 31, 2013 | 15.08% | 18.32% | 11.09% | 10.15% | 27.47% |
| Dec 31, 2012 | 16.50% | 18.78% | 8.65% | 9.43% | 28.05% |
| Dec 31, 2011 | 16.80% | 18.42% | 6.49% | 9.69% | 27.63% |
| Dec 31, 2010 | 16.26% | 33.63% | 8.36% | 10.93% | 26.68% |
| Dec 31, 2009 | 18.26% | 22.02% | 7.48% | 13.75% | 25.33% |
| Dec 31, 2008 | 10.45% | 18.18% | 6.87% | 11.89% | 26.80% |
| Dec 31, 2007 | 16.52% | 20.73% | 6.95% | 14.33% | — |
| Dec 31, 2006 | 16.17% | 21.09% | 8.91% | 16.06% | — |
| Dec 31, 2005 | 17.99% | 21.09% | 7.72% | 12.52% | — |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Food, Beverage & Tobacco)
Monster Beverage Corp., net profit margin, long-term trends, comparison to sector (food, beverage & tobacco)
| Monster Beverage Corp. | Food, Beverage & Tobacco | |
|---|---|---|
| Dec 31, 2023 | 22.84% | 15.62% |
| Dec 31, 2022 | 18.88% | 15.68% |
| Dec 31, 2021 | 24.86% | 17.28% |
| Dec 31, 2020 | 30.65% | 16.69% |
| Dec 31, 2019 | 26.37% | 17.04% |
| Dec 31, 2018 | 26.08% | 19.88% |
| Dec 31, 2017 | 24.36% | 9.81% |
| Dec 31, 2016 | 23.37% | 13.66% |
| Dec 31, 2015 | 20.08% | 16.45% |
| Dec 31, 2014 | 19.60% | 13.18% |
| Dec 31, 2013 | 15.08% | 15.47% |
| Dec 31, 2012 | 16.50% | 15.02% |
| Dec 31, 2011 | 16.80% | 13.67% |
| Dec 31, 2010 | 16.26% | 17.42% |
| Dec 31, 2009 | 18.26% | 15.85% |
| Dec 31, 2008 | 10.45% | 14.49% |
| Dec 31, 2007 | 16.52% | 13.48% |
| Dec 31, 2006 | 16.17% | 14.73% |
| Dec 31, 2005 | 17.99% | 12.90% |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Consumer Staples)
Monster Beverage Corp., net profit margin, long-term trends, comparison to industry (consumer staples)
| Monster Beverage Corp. | Consumer Staples | |
|---|---|---|
| Dec 31, 2023 | 22.84% | 5.47% |
| Dec 31, 2022 | 18.88% | 6.11% |
| Dec 31, 2021 | 24.86% | 6.21% |
| Dec 31, 2020 | 30.65% | 6.22% |
| Dec 31, 2019 | 26.37% | 4.62% |
| Dec 31, 2018 | 26.08% | 6.05% |
| Dec 31, 2017 | 24.36% | 5.52% |
| Dec 31, 2016 | 23.37% | 5.88% |
| Dec 31, 2015 | 20.08% | 5.62% |
| Dec 31, 2014 | 19.60% | 6.00% |
| Dec 31, 2013 | 15.08% | 6.75% |
| Dec 31, 2012 | 16.50% | 6.65% |
| Dec 31, 2011 | 16.80% | 6.99% |
| Dec 31, 2010 | 16.26% | 7.59% |
| Dec 31, 2009 | 18.26% | 6.93% |
| Dec 31, 2008 | 10.45% | 6.75% |
| Dec 31, 2007 | 16.52% | 6.11% |
| Dec 31, 2006 | 16.17% | 6.35% |
| Dec 31, 2005 | 17.99% | 6.29% |
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), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).