Consumer Staples · Soft Drinks & Non-alcoholic Beverages · US stock · price as of 16 Oct 2026
Key indicators
Price
$45.73
52-week range
$32.94 – $50.17
Market cap
$45.2B
P/E (trailing)
21.2×
EV / EBITDA
14.9×
Free-cash-flow yield
4.6%
Dividend yield
–
Revenue (last 12 months)
$9.2B
Revenue growth (3y a year)
9.5%
Operating margin
29.2%
Return on invested capital
34.7%
Net debt / EBITDA
–
Fair value
Blended fair value$69.01 range $64 – $76
Versus priceUndervalued+51% to fair value
Peer multiples
$51.79
Fundamentals-adjusted multiple
$59.42
10-year DCF (market-scaled)
$95.82
Earnings power value (floor, not blended)
$30.03
Model uncertainty
Medium
X-Ray Score
75/ 100 · Medium confidence · ahead of 93% of sector peers
Valuation66
Growth91
Profitability61
Financial health87
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Monster Beverage develops, markets and distributes energy drinks and related beverages, led by the Monster Energy brand. It mostly does not bottle or distribute everything itself, but sells concentrates and finished drinks to bottlers and distributors, including a major strategic partnership with The Coca-Cola Company. Revenue comes from beverage sales worldwide and depends on consumer demand, ingredient costs and regulation.
Revenue at Monster Beverage Corp was $9.2 billion across the last twelve months. Across three years, sales expanded by 9.5% a year. Operating profit was 29.2% of revenue. It earned a return on invested capital of 35%. There is no dividend. Net debt to EBITDA compares borrowings, less cash, with annual operating earnings before interest, tax, depreciation and amortization.
StocksXray gives Monster Beverage Corp an X-Ray Score of 75 out of 100 (medium confidence), ahead of 93% of the S&P 500 stocks in its sector. Its strongest lens is growth (91) and its weakest is profitability (61).
Our fair value blend is $69.01 (range $63.83 to $75.75). At $45.73 the stock trades 34% below that blend, so the label is "Undervalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Monster Beverage Corp (MNST)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$24.01
$25.38
$28.81
$26.28
$38.34
$45.73
Market cap
$25.7B
$27.1B
$30.5B
$26.6B
$37.7B
$45.2B
P/E
–
–
–
–
–
21.2×
EV / revenue
4.1×
3.9×
3.8×
3.4×
4.2×
4.5×
EV / EBITDA
12.3×
14.8×
13.5×
12.7×
13.8×
14.9×
Price / free cash flow
23.1×
38.7×
20.4×
16.0×
19.2×
21.5×
Free-cash-flow yield
4.3%
2.6%
4.9%
6.3%
5.2%
4.6%
Price / book
3.9×
3.9×
3.7×
4.5×
4.6×
4.8×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 12 Good · ● 1 Average · ● 1 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−1.0%Bad
Free-cash-flow yield4.6%Average
Risk models
Altman Z score12.2×Good
Piotroski F-Score7 of 9Good
Growth
Free-cash-flow growth (3y)41.2%Good
Revenue growth (3y)9.5%Good
Growth consistency90%Good
Balance sheet
Current ratio3.7×Good
Interest coverno interest costGood
Valuation
Fair value vs price1.5×Good
EBIT / EV yield6.4%Good
Profitability
Return on invested capital34.7%Good
Operating margin29.2%Good
Gross profitability45.0%Good
XStocksXray
Monster Beverage Corp (MNST)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
5,541
6,311
7,140
7,493
8,294
9,219
Gross profit
3,109
3,175
3,794
4,049
4,632
5,121
Operating income
1,797
1,585
1,953
1,930
2,419
2,688
Net income
1,377
1,192
1,631
1,509
1,905
2,128
Diluted EPS ($)
–
–
–
–
–
2.16
Free cash flow
1,112
699
1,496
1,664
1,966
2,098
Gross margin
56.1%
50.3%
53.1%
54.0%
55.8%
55.5%
Operating margin
32.4%
25.1%
27.4%
25.8%
29.2%
29.2%
Net margin
24.9%
18.9%
22.8%
20.1%
23.0%
23.1%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
7,805
8,293
9,687
7,719
9,989
11,382
Cash
1,326
1,307
2,298
1,533
2,088
2,192
Total debt
–
–
0
374
–
–
Equity
6,567
7,025
8,229
5,958
8,254
9,364
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.