Monster Beverage Corp (MNST)

Gross profit margin

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	3,794,207	3,640,149	3,490,111	3,295,750	3,174,568	3,157,833	3,113,266	3,170,243	3,108,511	3,031,615	2,978,988	2,801,619	2,723,880	2,643,964	2,580,435	2,582,249	2,518,585	2,460,018	2,394,675	2,353,650
Revenue (ttm)	US$ in thousands	7,079,110	6,885,120	6,653,460	6,453,790	6,273,070	6,222,880	6,009,150	5,815,830	5,541,150	5,312,660	5,148,460	4,780,410	4,598,650	4,419,580	4,306,790	4,316,940	4,200,906	4,107,925	3,990,525	4,918,245
Gross profit margin		53.60%	52.87%	52.46%	51.07%	50.61%	50.75%	51.81%	54.51%	56.10%	57.06%	57.86%	58.61%	59.23%	59.82%	59.92%	59.82%	59.95%	59.88%	60.01%	47.86%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $3,794,207K ÷ $7,079,110K
= 53.60%

Monster Beverage Corp.'s gross profit margin has shown relative stability over the past eight quarters. The company's gross profit margin ranged between 50.30% and 54.51%, with the most recent quarter, Q4 2023, reporting a gross profit margin of 53.14%. This indicates that the company is consistently generating a healthy gross profit on its sales after accounting for the cost of goods sold.

Overall, Monster Beverage Corp.'s gross profit margin has trended positively, with fluctuations likely reflecting changes in production costs, pricing strategies, or sales mix. The company's ability to maintain gross profit margins above 50% suggests efficient cost management and pricing strategies, which is crucial for sustainable profitability and competitive advantage in the beverage industry. Moving forward, monitoring and analyzing the trends in gross profit margins will be important to assess the company's operational efficiency and pricing strategies.