Monster Beverage Corp (MNST)

Working capital turnover

		Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020
Revenue (ttm)	US$ in thousands	7,492,710	7,410,780	7,385,840	7,340,200	7,140,030	6,922,850	6,691,110	6,491,410	6,311,050	6,223,160	6,009,430	5,816,100	5,541,350	5,312,590	5,148,390	4,780,360	4,598,640	4,419,570	4,306,790	4,316,930
Total current assets	US$ in thousands	3,641,500	3,897,760	3,954,300	6,035,510	5,589,000	5,311,520	5,654,110	5,294,610	4,764,900	4,696,690	4,696,620	4,743,670	4,682,110	4,383,670	3,950,680	3,433,870	3,140,960	2,825,850	2,371,450	2,048,720
Total current liabilities	US$ in thousands	1,097,520	1,245,140	1,160,520	1,228,830	1,161,690	1,178,800	1,162,580	1,187,510	1,001,980	1,121,720	1,093,610	1,044,360	965,076	932,240	887,527	788,861	749,988	773,763	674,865	701,541
Working capital turnover		2.95	2.79	2.64	1.53	1.61	1.68	1.49	1.58	1.68	1.74	1.67	1.57	1.49	1.54	1.68	1.81	1.92	2.15	2.54	3.20

December 31, 2024 calculation

Working capital turnover = Revenue (ttm) ÷ (Total current assets – Total current liabilities)
= $7,492,710K ÷ ($3,641,500K – $1,097,520K)
= 2.95

Monster Beverage Corp's working capital turnover has fluctuated over the past few years. Starting from 3.20 in March 2020, it decreased steadily to 1.49 by December 2021, indicating a decline in the efficiency of utilizing working capital to generate sales. However, there was a slight increase in the ratio to 1.67 by June 2022, followed by a more significant increase to 2.95 by December 2024. This improvement suggests that the company has been able to enhance its efficiency in managing working capital to generate higher sales levels. Overall, while there have been fluctuations, Monster Beverage Corp's working capital turnover has shown a positive trend, reflecting a potentially improved operational efficiency.