$MNST
Monster Beverage Corp

2021 Q1 Form 10-Q Financial Statement

#000110465921063189 Filed on May 07, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $1.244B $1.062B
YoY Change 17.11% 12.27%
Cost Of Revenue $528.9M $424.9M
YoY Change 24.47% 14.08%
Gross Profit $714.9M $637.2M
YoY Change 12.2% 11.1%
Gross Profit Margin 57.48% 59.99%
Selling, General & Admin $87.70M $56.80M
YoY Change 54.4% 3.27%
% of Gross Profit 12.27% 8.91%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $12.83M $16.55M
YoY Change -22.49% 11.27%
% of Gross Profit 1.79% 2.6%
Operating Expenses $300.8M $272.2M
YoY Change 10.5% 3.87%
Operating Profit $414.1M $365.0M
YoY Change 13.47% 17.19%
Interest Expense -$759.0K $872.0K
YoY Change -187.04% -67.7%
% of Operating Profit -0.18% 0.24%
Other Income/Expense, Net
YoY Change
Pretax Income $413.4M $365.9M
YoY Change 12.99% 16.44%
Income Tax $98.19M $87.03M
% Of Pretax Income 23.75% 23.79%
Net Earnings $315.2M $278.8M
YoY Change 13.04% 6.64%
Net Earnings / Revenue 25.34% 26.25%
Basic Earnings Per Share
Diluted Earnings Per Share $589.2K $515.8K
COMMON SHARES
Basic Shares Outstanding 528.2M 536.1M
Diluted Shares Outstanding 535.0M 540.5M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.159B $935.3M
YoY Change 130.84% 6.04%
Cash & Equivalents $1.179B $701.8M
Short-Term Investments $980.1M $233.5M
Other Short-Term Assets $104.0M $90.50M
YoY Change 14.92% -29.19%
Inventory $368.4M $352.3M
Prepaid Expenses
Receivables $802.5M $670.6M
Other Receivables $0.00 $0.00
Total Short-Term Assets $3.434B $2.049B
YoY Change 67.61% 7.41%
LONG-TERM ASSETS
Property, Plant & Equipment $312.2M $295.6M
YoY Change 5.61% 10.78%
Goodwill $1.332B $1.332B
YoY Change 0.0% 0.0%
Intangibles $1.063B $1.053B
YoY Change 0.95%
Long-Term Investments $65.30M $13.90M
YoY Change 369.78% 631.58%
Other Assets $88.20M $53.76M
YoY Change 64.08% -49.0%
Total Long-Term Assets $3.100B $2.833B
YoY Change 9.45% 3.06%
TOTAL ASSETS
Total Short-Term Assets $3.434B $2.049B
Total Long-Term Assets $3.100B $2.833B
Total Assets $6.534B $4.881B
YoY Change 33.86% 4.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $334.1M $305.5M
YoY Change 9.34% 14.13%
Accrued Expenses $171.0M $145.2M
YoY Change 17.72% -53.56%
Deferred Revenue $45.96M $44.84M
YoY Change 2.49%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $1.600M $2.200M
YoY Change -27.27% 144.44%
Total Short-Term Liabilities $788.9M $701.5M
YoY Change 12.45% 11.18%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $28.34M $30.62M
YoY Change -7.44% -90.61%
Total Long-Term Liabilities $28.34M $30.62M
YoY Change -7.44% -90.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $788.9M $701.5M
Total Long-Term Liabilities $28.34M $30.62M
Total Liabilities $817.2M $732.2M
YoY Change 11.62% -23.49%
SHAREHOLDERS EQUITY
Retained Earnings $6.747B $5.301B
YoY Change 27.28%
Common Stock $4.563B $4.429B
YoY Change 3.03%
Preferred Stock
YoY Change
Treasury Stock (at cost) $5.829B $5.799B
YoY Change 0.51%
Treasury Stock Shares $110.7M $110.3M
Shareholders Equity $5.459B $3.871B
YoY Change
Total Liabilities & Shareholders Equity $6.534B $4.881B
YoY Change 33.86% 4.85%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $315.2M $278.8M
YoY Change 13.04% 6.64%
Depreciation, Depletion And Amortization $12.83M $16.55M
YoY Change -22.49% 11.27%
Cash From Operating Activities $175.5M $191.1M
YoY Change -8.19% 54.89%
INVESTING ACTIVITIES
Capital Expenditures $8.400M $11.12M
YoY Change -24.45% 31.04%
Acquisitions
YoY Change
Other Investing Activities $18.86M $1.148M
YoY Change 1542.51% -49.89%
Cash From Investing Activities -$149.1M $280.0M
YoY Change -153.25% 498.51%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.658M $545.2M
YoY Change -98.78% 190.59%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.701M -546.0M
YoY Change -98.96% 190.37%
NET CHANGE
Cash From Operating Activities 175.5M 191.1M
Cash From Investing Activities -149.1M 280.0M
Cash From Financing Activities -5.701M -546.0M
Net Change In Cash -1.534M -96.12M
YoY Change -98.4% 401.44%
FREE CASH FLOW
Cash From Operating Activities $175.5M $191.1M
Capital Expenditures $8.400M $11.12M
Free Cash Flow $167.1M $180.0M
YoY Change -7.19% 56.65%

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CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
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CY2020Q1 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2020Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
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CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
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CY2020Q1 us-gaap Payments To Acquire Intangible Assets
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CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
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CY2021Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2020Q1 us-gaap Proceeds From Repayments Of Short Term Debt
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CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
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CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
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CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2021Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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CY2020Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents Continuing Operations
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CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q1 us-gaap Interest Paid Net
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CY2020Q1 us-gaap Income Taxes Paid
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7800000
CY2020Q1 mnst Net Change In Accrued Liabilities Incurred But Not Yet Paid
NetChangeInAccruedLiabilitiesIncurredButNotYetPaid
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CY2020Q1 mnst Short Term Investments Purchased But Not Yet Paid
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CY2020Q1 mnst Accounts Payable For Treasury Stock Repurchases
AccountsPayableForTreasuryStockRepurchases
20700000
CY2021Q1 us-gaap Number Of Operating Segments
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CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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ContractWithCustomerLiability
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CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
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CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
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10400000
CY2020Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
10600000
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CY2021Q1 us-gaap Lessee Finance Lease Existence Of Option To Extend
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CY2021Q1 us-gaap Lessee Operating Lease Existence Of Option To Terminate
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CY2021Q1 us-gaap Lessee Finance Lease Existence Of Option To Terminate
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CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
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CY2020Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
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CY2021Q1 us-gaap Variable Lease Cost
VariableLeaseCost
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CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
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CY2020Q1 us-gaap Finance Lease Right Of Use Asset Amortization
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FinanceLeaseInterestExpense
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CY2020Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
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FinanceLeaseCost
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CY2020Q1 mnst Finance Lease Cost
FinanceLeaseCost
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CY2020Q1 us-gaap Lease Cost
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CY2020Q1 us-gaap Operating Lease Payments
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CY2020Q1 us-gaap Finance Lease Interest Payment On Liability
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CY2020Q1 us-gaap Finance Lease Principal Payments
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CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
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CY2021Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2020Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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CY2021Q1 us-gaap Operating Lease Right Of Use Asset
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CY2021Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
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CY2020Q4 us-gaap Operating Lease Right Of Use Asset
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CY2020Q4 us-gaap Finance Lease Right Of Use Asset
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OperatingLeaseLiability
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CY2021Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
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CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
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CY2021Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2804000
CY2021Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
1370000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2377000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1890000
CY2021Q1 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
1601000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
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CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
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CY2021Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
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CY2021Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2021Q1 us-gaap Operating Lease Liability
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CY2021Q1 us-gaap Finance Lease Liability
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CY2021Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2021Q1 us-gaap Available For Sale Securities Debt Securities
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CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
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CY2020Q4 us-gaap Available For Sale Securities Debt Securities
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CY2020 mnst Fair Value Asset Transfers Between Level1 And Level2
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CY2020Q1 us-gaap Amortization Of Intangible Assets
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213758000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
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204754000
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CY2020Q4 us-gaap Property Plant And Equipment Net
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CY2020Q1 us-gaap Other Depreciation And Amortization
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CY2020Q4 us-gaap Goodwill
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CY2021Q1 us-gaap Goodwill
Goodwill
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CY2019Q4 us-gaap Goodwill
Goodwill
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CY2020Q1 us-gaap Goodwill
Goodwill
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CY2021Q1 mnst Deferred Revenue Distribution Agreement
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CY2020Q1 mnst Deferred Revenue Distribution Agreement
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
631268000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
9883000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
40.24
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y8M12D
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
502521000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
7200000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
10900000
CY2021Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
413387000
CY2020Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
365860000
CY2020Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
742000
CY2021Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0
CY2021Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
0
CY2021Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0
CY2021Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
742000
CY2021Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
100000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1062097000
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
414146000
CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
364988000
CY2021Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
528195000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
536061000
CY2021Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
6787000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
4457000
CY2021Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
534982000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
540518000
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4800000
CY2021Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1243816000
CY2021Q1 mnst Depreciation Depletion And Amortization Excluding Ru Assets
DepreciationDepletionAndAmortizationExcludingRuAssets
12825000
CY2020Q1 mnst Depreciation Depletion And Amortization Excluding Ru Assets
DepreciationDepletionAndAmortizationExcludingRuAssets
15325000
CY2021Q1 mnst Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
2394735000
CY2020Q4 mnst Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
2390689000

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