Monster Beverage Corp (MNST)
Return on total capital
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) | US$ in thousands | 1,953,360 | 1,584,720 | 1,797,470 | 1,633,150 | 1,402,940 |
| Long-term debt | US$ in thousands | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 8,228,740 | 7,025,040 | 6,566,950 | 5,160,860 | 4,171,280 |
| Return on total capital | 23.74% | 22.56% | 27.37% | 31.64% | 33.63% |
December 31, 2023 calculation
Return on total capital = EBIT ÷ (Long-term debt + Total stockholders’ equity)
= $1,953,360K ÷ ($—K + $8,228,740K)
= 23.74%
Monster Beverage Corp.'s return on total capital has shown a declining trend over the past five years, with figures of 33.63% in 2019, 31.64% in 2020, 27.37% in 2021, 22.56% in 2022, and 23.74% in 2023. Although the return on total capital has decreased, the company still maintained a relatively strong performance in utilizing its total capital to generate profits. It is essential to further investigate the factors contributing to this decline in order to assess the company's efficiency in deploying its capital resources effectively.
Peer comparison
Dec 31, 2023
Company name
Symbol
Return on total capital
Monster Beverage Corp
MNST
23.74%
Celsius Holdings Inc
CELH
100.88%
Coca-Cola Consolidated Inc.
COKE
27.35%
National Beverage Corp
FIZZ
39.05%