Monster Beverage Corp (MNST)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 3,794,210 | 3,174,570 | 3,108,510 | 2,723,880 | 2,518,580 |
| Revenue | US$ in thousands | 7,079,410 | 6,273,310 | 5,542,050 | 4,587,750 | 4,196,920 |
| Gross profit margin | 53.60% | 50.60% | 56.09% | 59.37% | 60.01% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $3,794,210K ÷ $7,079,410K
= 53.60%
The gross profit margin of Monster Beverage Corp. has shown a fluctuating trend over the past five years. In 2019 and 2020, the company had relatively high gross profit margins of 59.95% and 59.23% respectively. However, there was a significant drop in the gross profit margin in 2021 to 56.10%. This was followed by a further decrease in 2022 to 50.30%.
However, in 2023, there was a notable improvement in the gross profit margin, increasing to 53.14%. Despite this improvement, the gross profit margin in 2023 still remains below the levels seen in 2019 and 2020.
It is essential for the company to continue monitoring and analyzing its cost of goods sold and revenue generation strategies to ensure sustainable profitability and potentially increase its gross profit margin in the future.
Peer comparison
Dec 31, 2023