Monster Beverage Corp (MNST)
Return on total capital
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (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 |
| Long-term debt | US$ in thousands | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Total stockholders’ equity | US$ in thousands | 8,228,740 | 7,873,150 | 7,841,460 | 7,395,360 | 7,025,040 | 6,815,760 | 6,809,180 | 6,866,670 | 6,566,950 | 6,245,000 | 5,905,500 | 5,459,440 | 5,160,860 | 4,629,320 | 4,221,540 | 3,870,950 | 4,171,280 | 4,107,980 | 4,057,590 | 3,698,820 |
| Return on total capital | 23.74% | 24.31% | 23.22% | 22.59% | 22.56% | 23.52% | 23.94% | 25.96% | 27.37% | 28.61% | 30.50% | 30.81% | 31.64% | 33.44% | 35.17% | 37.63% | 33.63% | 33.90% | 32.94% | 35.56% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $1,953,355K ÷ ($—K + $8,228,740K)
= 23.74%
Monster Beverage Corp.'s return on total capital has been relatively stable over the past eight quarters, ranging from 22.56% to 25.96%. The company has consistently generated a return on total capital above 20%, indicating efficient use of capital to generate profits. However, there was a slight decline in Q1 2023 compared to the previous quarter, which may warrant further investigation into the factors influencing this trend. Overall, Monster Beverage Corp. has shown strong performance in utilizing its capital efficiently to deliver returns to its stakeholders over the analyzed period.
Peer comparison
Dec 31, 2023