Enterprise Value (EV)
Current Enterprise Value (EV)
Monster Beverage Corp., current enterprise value calculation
| Current share price (P) | $54.67 |
| No. shares of common stock outstanding | 1,041,728,228 |
| US$ in thousands | |
| Common equity (market value)1 | 56,951,282) |
| Total equity | 56,951,282) |
| Add: Current finance lease liabilities (per books) | 6,449) |
| Add: Noncurrent finance lease liabilities (per books) | 19) |
| Total equity and debt | 56,957,750) |
| Less: Cash and cash equivalents | 2,297,675) |
| Less: Short-term investments | 955,605) |
| Enterprise value (EV) | 53,704,470) |
Based on: 10-K (reporting date: 2023-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 54.67 × 1,041,728,228
Historical Enterprise Value (EV)
Monster Beverage Corp., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of Monster Beverage Corp. Annual Report.
3 2023 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 59.10 × 1,040,636,235
- Equity Trends
- The common equity, which is equivalent to the total equity presented, shows a consistent upward trend from 2019 to 2023. Starting at approximately $33.5 billion in 2019, it increased significantly to about $46.2 billion in 2020. Although there was a slight decline to roughly $44.7 billion in 2021, the equity rebounded and continued to grow to $51.8 billion in 2022 and further to $61.5 billion in 2023. This overall increase reflects a strengthening equity base over the five-year period.
- Total Equity and Debt
- The total combined value of equity and debt follows a very similar pattern to total equity, starting just above $33.5 billion in 2019 and rising to around $61.5 billion by 2023. The close alignment between total equity and total equity and debt figures suggests the company maintains relatively low levels of debt, or that debt levels have remained stable relative to equity.
- Enterprise Value (EV)
- The enterprise value also experienced growth from 2019 to 2023, increasing from approximately $32.2 billion to $58.3 billion. There is a notable peak in 2020 at around $44.2 billion before a decline in 2021 to about $41.6 billion. Afterward, the EV steadily increased again, reaching nearly $49.2 billion in 2022 and $58.3 billion in 2023. The trend in EV broadly coincides with equity trends, signifying overall market valuation growth with some fluctuations, aligning with the equity values and possibly reflecting changes in the company's capital structure or market conditions.
- Summary Insights
- Throughout the observed period, the data indicates steady growth in the company's equity and enterprise value, with a notable dip in both total equity and enterprise value in 2021. This dip may represent a period of financial adjustment or external market challenges. Post-2021, the recovery and continued growth suggest improved financial health and increasing market confidence. The close relationship between equity and total capital values implies conservative or stable debt utilization. Overall, the financial position has strengthened, as implied by rising equity and enterprise value over this five-year timeframe.