Common Stock Valuation Ratios (Price Multiples)
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
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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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Current Valuation Ratios
Monster Beverage Corp., current price multiples
| Monster Beverage Corp. | Coca-Cola Co. | Mondelēz International Inc. | PepsiCo Inc. | Philip Morris International Inc. | Food, Beverage & Tobacco | Consumer Staples | ||||
|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data | ||||||||||
| Current share price (P) | ||||||||||
| No. shares of common stock outstanding | ||||||||||
| Growth rate (g) | ||||||||||
| Earnings per share (EPS) | ||||||||||
| Next year expected EPS | ||||||||||
| Operating profit per share | ||||||||||
| Sales per share | ||||||||||
| Book value per share (BVPS) | ||||||||||
| Valuation Ratios (Price Multiples) | ||||||||||
| Price to earnings (P/E) | ||||||||||
| Price to next year expected earnings | ||||||||||
| Price-earnings-growth (PEG) | ||||||||||
| Price to operating profit (P/OP) | ||||||||||
| Price to sales (P/S) | ||||||||||
| Price to book value (P/BV) | ||||||||||
Based on: 10-K (reporting date: 2023-12-31).
If the company price multiple is lower then the price multiple of benchmark then company stock is relatively undervalued.
Otherwise, if the company price multiple is higher then the price multiple of benchmark then company stock is relatively overvalued.
Historical Valuation Ratios (Summary)
Monster Beverage Corp., historical price multiples
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Price to earnings (P/E) | ||||||
| Price to operating profit (P/OP) | ||||||
| Price to sales (P/S) | ||||||
| Price to book value (P/BV) |
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).
- Price to Earnings (P/E) Ratio
- The P/E ratio exhibited an overall upward trend from 30.25 in 2019 to a peak of 43.49 in 2022, indicating increasing market valuation relative to earnings. However, in 2023, the ratio declined to 37.71, suggesting a partial correction or stabilization in investor expectations.
- Price to Operating Profit (P/OP) Ratio
- This ratio showed fluctuations over the period. It rose from 23.89 in 2019 to 28.32 in 2020, then decreased to 24.86 in 2021. A sharp increase followed in 2022, reaching 32.7, before slightly declining to 31.49 in 2023. The pattern reflects varying market assessments of operating profit relative to price.
- Price to Sales (P/S) Ratio
- The P/S ratio increased from 7.98 in 2019 to 10.06 in 2020, signifying a higher valuation per unit of sales during that year. Subsequently, it dropped to 8.06 in 2021 and remained relatively stable around 8.2 to 8.6 through 2022 and 2023, indicating a normalization in price relative to sales.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio decreased from 8.03 in 2019 to 6.8 in 2021, suggesting a declining premium over book value. The ratio then increased slightly to 7.38 in 2022 and stabilized at 7.47 in 2023, indicating some recovery in valuation relative to book value.
Price to Earnings (P/E)
Monster Beverage Corp., historical P/E calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net income (in thousands) | ||||||
| Earnings per share (EPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/E ratio4 | ||||||
| Benchmarks | ||||||
| P/E Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| Mondelēz International Inc. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/E Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/E Ratio, Industry | ||||||
| Consumer Staples | ||||||
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 2023 Calculation
EPS = Net income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monster Beverage Corp. Annual Report.
4 2023 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated a generally upward trend over the five-year period. Starting at $31.21 in 2019, it increased significantly to $43.78 in 2020. It experienced a slight decrease in 2021 to $42.20, before rising again to $49.60 in 2022 and reaching a peak of $59.10 in 2023. This indicates a strong positive market valuation trend.
- Earnings per Share (EPS)
- The EPS followed a somewhat volatile pattern. It increased from $1.03 in 2019 to $1.33 in 2020, signaling improved profitability. However, it slightly declined to $1.30 in 2021 and further dipped to $1.14 in 2022, reflecting some earnings pressure during these years. EPS rebounded sharply to $1.57 in 2023, showing a significant recovery and higher profitability in the latest period.
- Price-to-Earnings (P/E) Ratio
- The P/E ratio fluctuated within a moderate range but showed notable variability. It started at 30.25 in 2019, rose to 32.81 in 2020, and then held steady at 32.43 in 2021. A marked increase to 43.49 occurred in 2022, suggesting a higher market valuation relative to earnings, possibly due to optimism or market expectations. In 2023, it decreased to 37.71 but remained elevated compared to earlier years, indicating sustained investor confidence despite the reduction.
Price to Operating Profit (P/OP)
Monster Beverage Corp., historical P/OP calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Operating income (in thousands) | ||||||
| Operating profit per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/OP ratio4 | ||||||
| Benchmarks | ||||||
| P/OP Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| Mondelēz International Inc. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/OP Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/OP Ratio, Industry | ||||||
| Consumer Staples | ||||||
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 2023 Calculation
Operating profit per share = Operating income ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monster Beverage Corp. Annual Report.
4 2023 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price exhibited a consistent upward trend over the five-year period, increasing from $31.21 at the end of 2019 to $59.10 by the end of 2023. Notably, the share price showed a steady rise year over year, with the most significant increase occurring between 2019 and 2020 and again from 2022 to 2023.
- Operating Profit Per Share
- Operating profit per share demonstrated growth from $1.31 in 2019 to $1.88 in 2023. This increase was generally steady, except for a slight decline in 2022 when it dropped from $1.70 in 2021 to $1.52, before recovering in 2023 to the highest value in the period.
- Price to Operating Profit Ratio (P/OP)
- The P/OP ratio fluctuated over the five years, starting at 23.89 in 2019 and rising to a peak of 32.7 in 2022, followed by a modest decrease to 31.49 in 2023. This pattern indicates varying market valuations relative to operating profitability, with the highest valuation relative to operating profit occurring in 2022.
- Overall Insights
- Overall, the data reveals a company experiencing growth in market valuation and operating profitability, with some volatility in operating profit during 2022. The share price growth outpaced the growth in operating profit per share, as reflected in the rising P/OP ratio through most of the period, suggesting increasing investor confidence or higher market expectations relative to operating earnings. The slight decrease in P/OP in 2023 may indicate some market revaluation despite continued growth in operating profit.
Price to Sales (P/S)
Monster Beverage Corp., historical P/S calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Net sales (in thousands) | ||||||
| Sales per share2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/S ratio4 | ||||||
| Benchmarks | ||||||
| P/S Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| Mondelēz International Inc. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/S Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/S Ratio, Industry | ||||||
| Consumer Staples | ||||||
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 2023 Calculation
Sales per share = Net sales ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monster Beverage Corp. Annual Report.
4 2023 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated an overall upward trend from 2019 to 2023. Starting at $31.21 in 2019, it increased significantly to $43.78 in 2020, showing substantial growth. There was a slight decrease to $42.20 in 2021, but the price resumed its upward movement thereafter, reaching $49.60 in 2022 and further rising to $59.10 by the end of 2023. This pattern indicates strong investor confidence and increasing market valuation over the five-year period.
- Sales Per Share
- Sales per share showed consistent growth throughout the period. Beginning at $3.91 in 2019, sales per share increased steadily each year, reaching $4.35 in 2020, $5.23 in 2021, $6.04 in 2022, and ultimately $6.86 by 2023. The continuous increase suggests improving revenue generation on a per-share basis, reflecting either growth in total sales or effective management of share issuance.
- Price-to-Sales Ratio (P/S)
- The P/S ratio experienced fluctuations but remained relatively high, indicating persistent market optimism about the company’s sales relative to its valuation. Initially at 7.98 in 2019, the ratio rose sharply to 10.06 in 2020, suggesting the share price growth outpaced sales growth during that year. Subsequently, it declined to 8.06 in 2021, indicating a correction or alignment between share price and sales. The ratio saw moderate increments over the last two years, reaching 8.21 in 2022 and 8.61 in 2023, signifying that the valuation relative to sales remained strong but stabilized after the earlier spike. This pattern reflects investor willingness to maintain a premium valuation on sales figures.
Price to Book Value (P/BV)
Monster Beverage Corp., historical P/BV calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Stockholders’ equity (in thousands) | ||||||
| Book value per share (BVPS)2 | ||||||
| Share price1, 3 | ||||||
| Valuation Ratio | ||||||
| P/BV ratio4 | ||||||
| Benchmarks | ||||||
| P/BV Ratio, Competitors5 | ||||||
| Coca-Cola Co. | ||||||
| Mondelēz International Inc. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/BV Ratio, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/BV Ratio, Industry | ||||||
| Consumer Staples | ||||||
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 2023 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of Monster Beverage Corp. Annual Report.
4 2023 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price
- The share price demonstrated a consistent upward trend over the analyzed period. Starting at $31.21 at the end of 2019, it increased to $43.78 in 2020 and remained relatively stable in 2021 at $42.2. Subsequently, it rose to $49.6 in 2022 and further to $59.1 by the end of 2023, indicating strong investor confidence and market appreciation.
- Book Value per Share (BVPS)
- Book value per share showed a steady increase throughout the period. Beginning at $3.88 in 2019, it rose to $4.89 in 2020, followed by notable growth to $6.2 in 2021. This positive trend continued with BVPS reaching $6.72 in 2022 and further increasing to $7.91 in 2023, suggesting an overall strengthening of the company's equity base.
- Price-to-Book Value Ratio (P/BV)
- The price-to-book value ratio exhibited some variability over the period. It started at 8.03 in 2019, increased to a peak of 8.96 in 2020, then declined to 6.8 in 2021. Afterward, the ratio rose moderately to 7.38 in 2022 and slightly to 7.47 in 2023. These fluctuations reflect changes in market valuation relative to the company's book value, indicating periods when the stock was either more or less favorably valued by investors based on its net assets.