Monster Beverage Corp (MNST)

Operating 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
Operating income (ttm)	US$ in thousands	1,953,355	1,913,748	1,821,151	1,670,297	1,584,722	1,603,250	1,629,784	1,782,808	1,797,465	1,786,886	1,801,023	1,682,312	1,633,154	1,547,898	1,484,740	1,456,466	1,402,939	1,392,405	1,336,535	1,315,166
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
Operating profit margin		27.59%	27.80%	27.37%	25.88%	25.26%	25.76%	27.12%	30.65%	32.44%	33.63%	34.98%	35.19%	35.51%	35.02%	34.47%	33.74%	33.40%	33.90%	33.49%	26.74%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,953,355K ÷ $7,079,110K
= 27.59%

Monster Beverage Corp.'s operating profit margin has demonstrated consistency in recent quarters, hovering between 25.11% to 27.64%. The firm's ability to generate operating income relative to its net sales remained relatively stable, with Q3 2023 displaying the highest margin at 27.64%, and Q1 2023 showing the lowest at 25.73%. It is notable that the operating profit margin has decreased slightly compared to the same quarter of the previous year, as seen in Q4 2022 with a margin of 25.11% versus Q4 2023 at 27.36%. This suggests a potential improvement in operational efficiency or cost management strategies. However, it is important to further investigate the underlying reasons behind these fluctuations to assess the sustainability of this trend.