Monster Beverage Corporation

monsterbevcorp.com

What Do They Do?

Sells energy drinks and drink bases, along with alcoholic drinks, to beverage bottlers and distributors, retailers, and beer distributors.

How Do They Make Money?

Sells packaged energy drinks to bottlers and distributors, and sometimes retailers; authorized bottlers also buy beverage bases, while beer distributors buy alcoholic drinks. Most product sales are paid on short-term terms when goods ship or are delivered.

revenue

Segment	Share	How money arrives
Monster Energy Drinks Sold outright	92% FY2022: 92%	Sold outright
Strategic Brands Sold outright	5.7% FY2022: 5.6%	Sold outright
Alcohol Brands Sold outright	1.6% FY2022: 1.6%	Sold outright
Other Sold outright	0.3% FY2022: 0.4%	Sold outright

Who Are Their Customers?

Full-service beverage bottlers and distributors buy most non-alcohol products; the company also sells directly to retail chains and other outlets. Beer distributors buy its alcohol products and resell them to alcohol retailers.

Customers above 10% of revenue, FY2025

of revenue from one customer

FY2023: 13% from one customer

Do Revenues Turn Into Profits?

Yes. It kept 23 cents of every revenue dollar as net income in FY2025 and turned 24 cents into free cash flow.

Operating income, FY2025

29% of revenue

▲ +25% vs FY2024 ($1.9B, 26%)

Net income, FY2025

23% of revenue

▲ +26% vs FY2024 ($1.5B, 20%)

Free cash flow, FY2025

24% of revenue

▲ +18% vs FY2024 ($1.7B, 22%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +20%; vs $2.1B in Q2 FY2025
Net income: ▲ +20%; vs $488.8M in Q2 FY2025

Monster Energy Drinks share of revenue vs 91.8% in Q2 FY2025

Growing. Revenue grew 50% in 4 years, from $5.5B in FY2021 to $8.3B in FY2025, about 11% a year.

Bang Energy added The latest report includes Bang Energy among its energy drink brands; the older report’s named energy-drink lineup did not list it.

Revenue over time

Monster Energy Drinks Strategic Brands Alcohol Brands Other

$10B$5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with TCCC, PepsiCo, KDP, Red Bull, Celsius Holdings, Molson Coors, Constellation Brands, AB InBev, The Boston Beer, and The Mark Anthony Group

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