Company file · MNST
Monster Beverage
Monster Beverage's revenue rose 10.7% in FY2025, to $8.3B, and net income rose 26.3% to $1.9B
Revenue rose 10.7% to $8.3B in FY2025, from $7.5B in FY2024. Net income rose 26.3% to $1.9B. Monster Energy Drinks was the largest segment, at 92% of revenue.
Key facts
In fiscal 2025, which ended Dec 31, 2025, Monster Beverage (Nasdaq: MNST) took in $8.3B of revenue (up 10.7% on fiscal 2024); net income was $1.9B (up 26.3%). The most recent quarter, ended Sep 30, 2026, brought revenue of $2.6B, up 16.7% year over year, with net income of $568M. Monster Energy Drinks was the biggest single line by segment: 92% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 27, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Nov 6, 2026).
Source: 10-K FY2025, filed Feb 27, 2026
Source: 10-Q filed May 8, 2026 · 10-Q filed Aug 7, 2026 · 10-Q filed Nov 6, 2026
How it makes money
By segment, FY2025
- LineAmountSharevs FY2024
- Monster Energy Drinks$7.7B92%+11.7%
- Strategic Brands$469M6%+8.4%
- Alcohol Brands$135M2%−21.8%
Source: 10-K FY2025, XBRL breakdown
By segment in FY2025: Monster Energy Drinks (92%), Strategic Brands (6%) and Alcohol Brands (2%), as shares of total revenue. Total revenue was $8.3B.
Source: 10-K FY2025
By region, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Monster Beverage 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026
By segment
Source: Monster Beverage 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026
The bull case and the bear case
The bull case
- Revenue rose 10.7% in FY2025 to $8.3B, from $7.5B a year earlier. 10-K, FY2025
- Net income rose 26.3% in FY2025 to $1.9B, from $1.5B. 10-K, FY2025
- Operating cash flow rose 8.8% in FY2025 to $2.1B. 10-K, FY2025
- Diluted shares fell 2.8% in FY2025, so each share represents a larger slice of profit. 10-K, FY2025
The bear case
- Alcohol Brands revenue fell 21.8% in FY2025 to $135M. 10-K, FY2025
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include costs; consumer habits; retail customers. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Monster Beverage is in the soft drinks & non-alcoholic beverages industry, part of the consumer staples sector. The SEC files it under Bottled & Canned Soft Drinks & Carbonated Waters.
Monster Beverage reports 3 segments: Monster Energy Drinks, Strategic Brands and Alcohol Brands.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the soft drinks & non-alcoholic beverages industry. They are not a summary of Monster Beverage’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- CostsCommodity, packaging and freight costs can rise faster than prices.
- Consumer habitsShoppers can trade down to store brands or change what they buy.
- Retail customersA few large retailers account for much of its sales.
- Regulation and safetyFood and product safety rules and recalls can bring cost and reputational harm.
- CompetitionRivals and private-label products compete for shelf space and prices.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $7.1B | $7.5B | $8.3B |
| Net income | $1.6B | $1.5B | $1.9B |
| Operating cash flow | $1.7B | $1.9B | $2.1B |
| Cash & equivalents (year end) | $2.3B | $1.5B | $2.1B |
| Diluted shares | 1.06B | 1.01B | 984M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income including the share that belongs to minority owners of subsidiaries.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Segment reporting
- Risk factors (Item 1A)
- The cash flow statement
- Debt-to-equity ratio
- Return on equity (ROE)
- Noncontrolling interest
- Critical accounting estimates
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
- Net income here includes the share that belongs to minority owners of subsidiaries, the figure the company's tagged data carries for the whole business.
What we left out
- Total debt: the company's filing data doesn't carry a consistent debt total for the years shown, so it isn't shown.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Nov 6, 2026 | Sep 30, 2026 |
| 10-Q | Aug 7, 2026 | Jun 30, 2026 |
| 10-Q | May 8, 2026 | Mar 31, 2026 |
| DEF 14A | Mar 27, 2026 | May 14, 2026 |
| 10-K | Feb 27, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Monster Beverage
How does Monster Beverage make money?
In fiscal 2025, revenue totaled $8.3B. By segment in FY2025: Monster Energy Drinks (92%), Strategic Brands (6%) and Alcohol Brands (2%), as shares of total revenue. Total revenue was $8.3B. Source: 10-K for fiscal 2025, filed Feb 27, 2026.
What was Monster Beverage's revenue in fiscal 2025?
Revenue came to $8.3B in the year ended Dec 31, 2025. Going back two years, it was $7.1B in fiscal 2023 and $7.5B in fiscal 2024, so the latest year was up 10.7%. Source: 10-K for fiscal 2025, filed Feb 27, 2026.
Is Monster Beverage profitable?
Yes, by US accounting rules (GAAP): net income was $1.9B in fiscal 2025, up 26.3% from $1.5B a year earlier. For the quarter ended Sep 30, 2026, net income was $568M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 27, 2026.
What did Monster Beverage report in its latest quarterly filing?
The 10-Q for the quarter ended Sep 30, 2026 shows revenue of $2.6B, against $2.2B in the same quarter a year before (up 16.7%), and net income of $568M, against $524M (up 8.4%). Source: 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026.
What are the main risks Monster Beverage faces?
Monster Beverage's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 27, 2026. Risks that are common among companies in the soft drinks & non-alcoholic beverages industry include Costs; consumer habits; retail customers; regulation and safety; competition. The first: Commodity, packaging and freight costs can rise faster than prices. Source: 10-K, Item 1A Risk Factors.
Where do these Monster Beverage numbers come from?
Two filings Monster Beverage made with the SEC: its fiscal 2025 10-K, filed Feb 27, 2026, and its 10-Q for the quarter ended Sep 30, 2026, filed Nov 6, 2026. The figures are taken from the XBRL data the SEC publishes, and every one links back to its source. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Monster Beverage
- Maverick Capital: 2,630,260 shares, reported value $252.8M at Jun 30, 2026 (+6.7% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 2,203,788 shares, reported value $211.8M at Jun 30, 2026 (+844.9% in shares since the filing for Mar 31, 2026). Form 13F filed Sep 2, 2026.
- Two Sigma Investments: 809,924 shares, reported value $77.8M at Jun 30, 2026 (−56.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 605,394 shares, reported value $58.2M at Jun 30, 2026 (−21.5% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Millennium Management: 378,456 shares, reported value $36.4M at Jun 30, 2026 (+463.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Renaissance Technologies: 316,800 shares, reported value $30.5M at Jun 30, 2026 (−69.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Point72 Asset Management: 109,580 shares, reported value $10.5M at Jun 30, 2026 (new in this filing). Form 13F filed Aug 14, 2026.
- Baillie Gifford: 43,871 shares, reported value $1.8M at Sep 30, 2026 (−62.4% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in MNST
- The editor holds no position in Monster Beverage (MNST). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell MNST from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 6, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold MNST, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Monster BeverageMNST | FY2025 | $8.3B | +10.7% | $1.9B |
| Coca-ColaKO | FY2025 | $47.9B | +1.9% | $13.1B |
| PepsiCoPEP | FY2025 | $93.9B | +2.3% | $8.2B |
| Keurig Dr PepperKDP | FY2025 | $16.6B | +8.2% | $2.1B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
More company files
- PG Procter & Gamble
- PM Philip Morris International
- MO Altria
- MDLZ Mondelez
- CL Colgate-Palmolive
- SYY Sysco
- EL Estée Lauder Companies
- KR Kroger
- ADM Archer Daniels Midland
- KMB Kimberly-Clark
- HSY Hershey
- KHC Kraft Heinz
- KVUE Kenvue
- CASY Casey's
- CHD Church & Dwight
- STZ Constellation Brands
- TSN Tyson Foods
- BG Bunge Global
- BF.B Brown–Forman
- GIS General Mills
- MKC McCormick
- SJM J.M. Smucker
- HRL Hormel Foods
- AAPL Apple
- MSFT Microsoft
- NVDA Nvidia
- AMZN Amazon
- GOOGL Alphabet
- META
- BRK.B Berkshire Hathaway
New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.