Monster Beverage Corporation (MNST) quarter year Financial Results Summary
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Monster Beverage Corporation (MNST) Q3 2025 Financial Results Summary
Release Date: November 6, 2025
Monster Beverage Corporation (NASDAQ: MNST) announced its financial results for the third quarter of 2025, highlighting significant growth across various metrics. Below is a summary of the key financial results and operational highlights for the quarter ended September 30, 2025.
Financial Highlights
- Net Sales:
- Reached $2.20 billion, an increase of 16.8% from $1.88 billion in Q3 2024.
- Favorable foreign currency exchange rates added $31.8 million to net sales.
- Foreign currency adjusted net sales increased by 15.1% compared to the same quarter last year.
- Sales by Segment:
- Monster Energy® Drinks:
- Sales increased 17.7% to $2.03 billion from $1.72 billion a year earlier.
- Foreign currency impact of approximately $28.7 million.
- Adjusted increase of 16.0% on a foreign currency basis.
- Strategic Brands (includes brands from The Coca-Cola Company):
- Sales reached $130.5 million, up 15.9% from $112.6 million in Q3 2024.
- Adjusted increase of 13.2% on a foreign currency basis.
- Alcohol Brands:
- Decreased by 17.0% to $33.0 million, down from $39.8 million in the same period last year.
- Other Segment:
- Increased by 14.4% to $6.8 million from $5.9 million in Q3 2024.
- International Sales:
- Increased 23.3% to $937.1 million, now comprising 43% of total net sales (up from 40% last year).
- Adjusted net sales to international customers increased by 19.1%.
- Gross Profit:
- Gross profit as a percentage of net sales increased to 55.7%, up from 53.2% in the prior year’s quarter.
- Driven primarily by pricing actions, supply chain optimization, and product mix.
- Operating Expenses:
- Total operating expenses were $549.1 million, compared to $519.9 million a year ago.
- Operating expenses as a percentage of net sales decreased to 25.0% from 27.6% in Q3 2024.
- Income Metrics:
- Operating Income: Increased 40.7% to $675.4 million from $479.9 million in the prior year.
- Net Income rose 41.4% to $524.5 million, compared to $370.9 million in Q3 2024.
- Net Income per Diluted Share: Increased 41.1% to $0.53 from $0.38 per share year-over-year.
- Tax Rate:
- Effective tax rate for the quarter increased to 23.9% from 21.8% in Q3 2024.
Nine-Month Results Summary
- Net sales for the nine months ended September 30, 2025, amounted to $6.16 billion, an 8.5% increase from $5.68 billion in the same period in 2024.
- Gross profit margin improved to 56.0% compared to 53.6% previously.
- Net income increased 17.6% to $1.46 billion, up from $1.24 billion year-over-year.
Share Repurchase Program
- During the third quarter, no shares were repurchased. As of November 5, 2025, there is approximately $500.0 million remaining available for share repurchases under the existing program.
Summary
Monster Beverage Corporation has demonstrated robust financial performance in Q3 2025, with double-digit growth in net sales, operating income, and net income. The increase in international sales and various segments points to a favorable market response and brand strength. The company’s focus on innovative product offerings continues to drive growth amid a competitive landscape.
| Three-Months Ended | Nine-Months Ended | |||
|---|---|---|---|---|
| September 30, 2025 | September 30, 2024 | September 30, 2025 | September 30, 2024 | |
| Net salesÂą | $2,197,139 | $1,880,973 | $6,163,290 | $5,680,668 |
| Cost of sales | $972,653 | $881,174 | $2,714,428 | $2,634,235 |
| Gross profitÂą | $1,224,486 | $999,799 | $3,448,862 | $3,046,433 |
| Gross profit as a percentage of net sales | 55.7% | 53.2% | 56.0% | 53.6% |
| Operating expenses | $549,134 | $519,883 | $1,572,142 | $1,497,363 |
| Operating expenses as a percentage of net sales | 25.0% | 27.6% | 25.5% | 26.4% |
| Operating incomeÂą | $675,352 | $479,916 | $1,876,720 | $1,549,070 |
| Operating income as a percentage of net sales | 30.7% | 25.5% | 30.4% | 27.3% |
| Interest and other income (expense), net | $14,185 | ($5,820) | $37,522 | $54,311 |
| Income before provision for income taxesÂą | $689,537 | $474,096 | $1,914,242 | $1,603,381 |
| Provision for income taxes | $165,082 | $103,177 | $458,000 | $365,044 |
| Income taxes as a percentage of income before taxes | 23.9% | 21.8% | 23.9% | 22.8% |
| Net income | $524,455 | $370,919 | $1,456,242 | $1,238,337 |
| Net income as a percentage of net sales | 23.9% | 19.7% | 23.6% | 21.8% |
| Net income per common share: | ||||
| Basic | $0.54 | $0.38 | $1.49 | $1.22 |
| Diluted | $0.53 | $0.38 | $1.48 | $1.21 |
| Weighted average number of shares of common stock and common stock equivalents: | ||||
| Basic | 976,608 | 975,841 | 975,337 | 1,015,252 |
| Diluted | 984,966 | 983,171 | 983,532 | 1,023,912 |
| Energy drink case sales (in thousands) | 258,387 | 219,409 | 720,823 | 643,033 |
| (in 192-ounce case equivalents) | ||||
| Average net sales per case² | $8.35 | $8.36 | $8.38 | $8.59 |
ÂąIncludes $10.1 million and $10.0 million for the three-months ended September 30, 2025 and 2024, respectively, related to the recognition of deferred revenue. Includes $30.0 and $29.9 million for the nine-months ended September 30, 2025 and 2024, respectively, related to the recognition of deferred revenue.
²Excludes Alcohol Brands segment and Other segment net sales.
| September 30, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $2,292,939 | $1,533,287 |
| Short-term investments | $286,391 | $- |
| Accounts receivable, net | $1,601,216 | $1,221,646 |
| Inventories | $704,586 | $737,107 |
| Prepaid expenses and other current assets | $142,713 | $107,262 |
| Prepaid income taxes | $38,372 | $42,202 |
| Total current assets | $5,066,217 | $3,641,504 |
| INVESTMENTS | $359,174 | $- |
| PROPERTY AND EQUIPMENT, net | $1,110,705 | $1,047,024 |
| DEFERRED INCOME TAXES, net | $185,321 | $184,260 |
| GOODWILL | $1,331,643 | $1,331,643 |
| OTHER INTANGIBLE ASSETS, net | $1,419,306 | $1,414,252 |
| OTHER ASSETS | $138,907 | $100,406 |
| Total Assets | $9,611,273 | $7,719,089 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | $683,030 | $466,775 |
| Accrued liabilities | $325,450 | $220,764 |
| Accrued promotional allowances | $392,628 | $267,711 |
| Deferred revenue | $47,158 | $45,809 |
| Accrued compensation | $102,131 | $92,454 |
| Income taxes payable | $40,023 | $4,006 |
| Total current liabilities | $1,590,420 | $1,097,519 |
| DEFERRED REVENUE | $164,701 | $179,008 |
| OTHER LIABILITIES | $110,992 | $110,893 |
| LONG-TERM DEBT | $- | $373,951 |
| STOCKHOLDERS’ EQUITY: | ||
| Common stock – $0.005 par value; 5,000,000 shares authorized; 1,130,977 shares issued and 976,997 shares outstanding as of September 30, 2025; 1,126,329 shares issued and 973,079 shares outstanding as of December 31, 2024 | $5,655 | $5,632 |
| Additional paid-in capital | $5,343,915 | $5,144,922 |
| Retained earnings | $8,905,026 | $7,448,784 |
| Accumulated other comprehensive loss | ($93,382) | ($269,487) |
| Common stock in treasury, at cost; 153,980 shares and 153,250 shares as of September 30, 2025 and December 31, 2024, respectively | ($6,416,054) | ($6,372,133) |
| Total stockholders’ equity | $7,745,160 | $5,957,718 |
| Total Liabilities and Stockholders’ Equity | $9,611,273 | $7,719,089 |