$MNST
Monster Beverage Corp

2023 Q2 Form 10-Q Financial Statement

#000110465923056507 Filed on May 05, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1 2022 Q4
Revenue $1.855B $1.699B $1.513B
YoY Change 12.06% 11.88% 6.17%
Cost Of Revenue $880.7M $801.1M $728.6M
YoY Change 0.61% 7.98% 10.82%
Gross Profit $974.2M $897.8M $784.3M
YoY Change 24.92% 15.6% 2.18%
Gross Profit Margin 52.52% 52.85% 51.84%
Selling, General & Admin $111.8M $106.1M $92.91M
YoY Change 23.85% 9.0% 3.17%
% of Gross Profit 11.48% 11.81% 11.85%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.60M $16.81M $15.20M
YoY Change -1.47% 15.13% 61.04%
% of Gross Profit 1.6% 1.87% 1.94%
Operating Expenses $450.4M $412.8M $390.0M
YoY Change 10.69% 9.44% 11.61%
Operating Profit $523.8M $485.1M $394.4M
YoY Change 40.45% 21.42% -5.7%
Interest Expense $15.16M $12.50M -$825.0K
YoY Change -323.55% -271.18% -113.46%
% of Operating Profit 2.89% 2.58% -0.21%
Other Income/Expense, Net $15.16M $12.50M
YoY Change -323.55% -271.18%
Pretax Income $539.0M $497.6M $393.5M
YoY Change 47.19% 26.87% -6.08%
Income Tax $125.1M $100.1M $91.85M
% Of Pretax Income 23.21% 20.12% 23.34%
Net Earnings $413.9M $397.4M $301.7M
YoY Change 51.4% 35.09% -6.11%
Net Earnings / Revenue 22.31% 23.39% 19.94%
Basic Earnings Per Share
Diluted Earnings Per Share $0.39 $0.38 $0.57
COMMON SHARES
Basic Shares Outstanding 1.047B 1.045B 521.7M
Diluted Shares Outstanding 1.060B 1.059B

Balance Sheet

Concept 2023 Q2 2023 Q1 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.287B $3.056B $2.669B
YoY Change 33.09% 11.83% -13.22%
Cash & Equivalents $1.870B $1.673B $1.307B
Short-Term Investments $1.417B $1.383B $1.362B
Other Short-Term Assets $187.3M $141.8M $143.6M
YoY Change 13.33% -5.64% 23.9%
Inventory $846.8M $906.7M $935.6M
Prepaid Expenses
Receivables $1.333B $1.190B $1.016B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.654B $5.295B $4.765B
YoY Change 20.39% 11.61% 1.77%
LONG-TERM ASSETS
Property, Plant & Equipment $576.6M $545.9M $516.9M
YoY Change 24.13% 34.0% 64.75%
Goodwill $1.418B $1.418B $1.418B
YoY Change 0.35% 0.43% 6.48%
Intangibles $1.224B $1.223B $1.220B
YoY Change 0.08% -0.77% 13.8%
Long-Term Investments $62.25M $41.15M $61.44M
YoY Change -2.92% -38.54% -39.06%
Other Assets $151.3M $145.1M $311.5M
YoY Change 37.02% 42.97% 288.17%
Total Long-Term Assets $3.609B $3.550B $3.528B
YoY Change 3.76% 3.08% 12.99%
TOTAL ASSETS
Total Short-Term Assets $5.654B $5.295B $4.765B
Total Long-Term Assets $3.609B $3.550B $3.528B
Total Assets $9.263B $8.844B $8.293B
YoY Change 13.31% 8.02% 6.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $568.6M $491.2M $444.3M
YoY Change 15.37% 12.09% 9.9%
Accrued Expenses $198.7M $245.9M $501.1M
YoY Change -5.02% 5.05% 137.52%
Deferred Revenue $42.77M $44.44M $43.31M
YoY Change -3.56% 4.47% 1.84%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.200M $2.393M $757.0K
YoY Change 216.74% 98.59% -21.15%
Total Short-Term Liabilities $1.163B $1.188B $1.002B
YoY Change 6.31% 13.71% 3.82%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $33.00K $41.00K
YoY Change -100.0% -8.33% 0.0%
Other Long-Term Liabilities $44.26M $41.73M $266.1M
YoY Change 10.48% 9.28% 801.74%
Total Long-Term Liabilities $44.26M $41.73M $266.1M
YoY Change 10.48% 9.28% 801.74%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.163B $1.188B $1.002B
Total Long-Term Liabilities $44.26M $41.73M $266.1M
Total Liabilities $1.207B $1.229B $1.268B
YoY Change 6.45% 13.55% 27.5%
SHAREHOLDERS EQUITY
Retained Earnings $5.120B $4.706B $9.001B
YoY Change -38.88% -41.93% 15.26%
Common Stock $4.870B $4.829B $4.777B
YoY Change 3.45% 3.34% 2.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $7.841B $7.395B $7.025B
YoY Change
Total Liabilities & Shareholders Equity $9.263B $8.844B $8.293B
YoY Change 13.31% 8.02% 6.26%

Cashflow Statement

Concept 2023 Q2 2023 Q1 2022 Q4
OPERATING ACTIVITIES
Net Income $413.9M $397.4M $301.7M
YoY Change 51.4% 35.09% -6.11%
Depreciation, Depletion And Amortization $15.60M $16.81M $15.20M
YoY Change -1.47% 15.13% 61.04%
Cash From Operating Activities $338.7M $424.5M $298.5M
YoY Change 158.52% -121033.05% 31.07%
INVESTING ACTIVITIES
Capital Expenditures $42.30M $40.10M $52.57M
YoY Change -154.28% 86.42% -434.04%
Acquisitions
YoY Change
Other Investing Activities -$63.10M $13.03M -$51.06M
YoY Change -116.79% 108.75% -91.41%
Cash From Investing Activities -$105.4M -$52.77M -$103.6M
YoY Change -135.38% -82.62% -83.02%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.222M
YoY Change -115.92%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -31.80M -6.049M -247.7M
YoY Change -87.99% 43.24% -1963.11%
NET CHANGE
Cash From Operating Activities 338.7M 424.5M 298.5M
Cash From Investing Activities -105.4M -52.77M -103.6M
Cash From Financing Activities -31.80M -6.049M -247.7M
Net Change In Cash 201.5M 365.5M -52.77M
YoY Change 22.73% -217.28% -85.71%
FREE CASH FLOW
Cash From Operating Activities $338.7M $424.5M $298.5M
Capital Expenditures $42.30M $40.10M $52.57M
Free Cash Flow $296.4M $384.4M $245.9M
YoY Change 41.85% -1858.19% 1.01%

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CY2022Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
72145000
CY2023Q2 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
682800000
CY2023Q1 mnst Number Of Shares Repurchased Of Common Stock For Employee Tax Withholding Obligations
NumberOfSharesRepurchasedOfCommonStockForEmployeeTaxWithholdingObligations
1700000
CY2023Q1 mnst Number Of Stock Based Compensation Plans
NumberOfStockBasedCompensationPlans
2
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16100000
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
16300000
CY2023Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
25900000
CY2022Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Exercise Of Stock Options
EmployeeServiceShareBasedCompensationTaxBenefitFromExerciseOfStockOptions
400000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
29710000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
26.38
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
724651000
CY2023Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
3129000
CY2023Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
11.62
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
73000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
37.39
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
30470000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
31.04
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P5Y9M18D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
699802000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
29381000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
30.58
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P5Y7M6D
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
688532000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
19309000
CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
24.79
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y
CY2023Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
564190000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3020000
CY2023Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
0
CY2023Q1 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
738000
CY2023Q1 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
0
CY2023Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
3758000
CY2023Q1 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
600000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1044909000
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1058810000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
14160000
CY2022Q1 us-gaap Incremental Common Shares Attributable To Conversion Of Debt Securities
IncrementalCommonSharesAttributableToConversionOfDebtSecurities
12298000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1059069000
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1071108000
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2600000
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3200000
CY2023Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
4
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1698930000
CY2022Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1518574000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
485064000
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
399489000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
497560000
CY2022Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
392189000
CY2023Q1 mnst Depreciation Depletion And Amortization Excluding Ru Assets
DepreciationDepletionAndAmortizationExcludingRuAssets
16808000
CY2022Q1 mnst Depreciation Depletion And Amortization Excluding Ru Assets
DepreciationDepletionAndAmortizationExcludingRuAssets
14599000
CY2023Q1 mnst Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
2640539000
CY2022Q4 mnst Goodwill And Other Intangible Assets
GoodwillAndOtherIntangibleAssets
2638351000

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