⚡What does Monster Beverage do, in 30 seconds?
Monster Beverage develops and markets energy drinks such as Monster Energy, and also sells craft beers and hard seltzers 1. It sold $8.3bn ✓ in FY2025. The Monster Energy Drinks segment made up 92% ✓ of that. Coca-Cola owned about 20.9% of Monster's common stock on 13 February 2026 26. Coca-Cola's bottlers and distributors carry Monster Energy across the US 25.
📱What does Monster Beverage sell?
Monster reports four segments 1, and Monster Energy Drinks is by far the largest at 92% ✓ of FY2025 sales. Here is what each one sells and who buys it. Monster also sells or licenses its trademarks for clothing, backpacks, hats, helmets and car wheels 1.
Monster Energy Drinks
Energy drinks sold ready to drink, mainly Monster Energy, Reign, Reign Storm and Bang Energy 1. The range includes Java Monster, a line of still coffee and energy drinks made with dairy 1. It also includes zero sugar drinks such as Monster Energy Zero Ultra 1. This segment brought in $7.7bn ✓ in FY2025.
👥 Mainly bottlers and full service drink distributors, and in some cases retail chains, club stores, online retailers and the military 1.
Strategic Brands
Energy drink brands bought from The Coca-Cola Company in 2015, such as Burn, Mother, NOS and Full Throttle, plus the affordable energy brands Predator and Fury 1. This segment brought in $0.5bn ✓ in FY2025.
👥 Mainly approved bottlers, which buy concentrates and drink bases. They add sweeteners, water and other ingredients and pack the finished drinks 1.
Alcohol Brands
Craft beers, flavored malt drinks and hard seltzers, including Jai Alai IPA, Dale's Pale Ale, Wild Basin and The Beast 1. Monster entered this field when it finished buying CANarchy on 17 February 2022 3. This segment brought in $0.1bn ✓ in FY2025.
👥 Primarily beer distributors in the United States 1.
How the mix has shifted
Where the customers are
The US and Canada bring in the biggest share of Monster's sales, at 61% ✓ in FY2025. Europe, the Middle East and Africa added 23% ✓. Latin America and the Caribbean added 8% ✓, and Asia Pacific 8% ✓. Counted another way, sales to customers outside the US, so including Canada, were about 41% of the total in 2025 4. In the third quarter of 2026 they were 47% 27.
💸How does Monster Beverage make money?
Follow the money: what customers pay for, what it costs to make, and what is left as profit.
Monster sold $8.3bn ✓ of products in FY2025. The direct cost of those products was $3.7bn ✓. What is left is gross profit, the money kept after paying for what was sold. That came to $4.6bn ✓. Monster counts out-bound freight and warehouse costs as running costs, not cost of sales. So its gross profit may not compare directly with firms that count them in cost of sales 4.
Next come selling and running costs, which took $2.2bn ✓. What remains is operating profit, the profit from the main business, which was $2.4bn ✓. Monster then added $0.1bn ✓ of other income and paid tax of $0.6bn ✓. That left net income of $1.9bn ✓. Put simply, out of every hundred dollars of sales, Monster kept about $23 ✓ as profit.
Out of every $100 customers paid in FY2025…
Interest, investment gains and other income added +$1 for every $100 of sales, so the slices above add up to a little more than $100.
⏱️ Monster Beverage by the clock
Spread the FY2025 totals evenly over its 365 days and you get this. Source: Monster Beverage Corp 10-K [5].
📈How is Monster Beverage doing?
Monster's sales are growing, and its operating margin rose in FY2025. Net sales reached a record $8.3bn ✓ in FY2025, up 10.7% ✓ on FY2024 4. Operating margin was 29.2% ✓, against 25.8% ✓ in FY2024. Both years carried write-down charges tied to the alcohol business: $138.8 million in 2024 and $53.7 million in 2025 4. Free cash flow was $2.0bn ✓, up from $1.7bn ✓ in FY2024.
Sales kept climbing after FY2025. In the four quarters to 30 June 2026, sales were $9.2bn ✓, up 20.4% ✓ on the four quarters before. Operating margin over those four quarters was 29.2% ✓. In the third quarter of 2026, net sales rose 16.7% to $2.56 billion 27. Monster sold 304.9 million cases of energy drinks that quarter, in 192-ounce equivalents, up 18.0% from a year earlier 34. Net sales per case averaged $8.30, against $8.35 a year earlier 34.
Costs rose in that quarter too. Gross margin fell to 54.7% of net sales from 55.7% a year earlier 34. Monster says the main reasons were higher aluminum can costs, where its sales were made and higher freight-in costs, partly offset by price rises 34. It raised prices on core brands and packs in the US in the fourth quarter of 2025, and at various times in certain markets abroad during 2025 and 2026 34.
Over the long run, sales grew 11.8% ✓ a year on average from FY2015 to FY2025, and rose in 10 ✓ of those 10 ✓ years. Those years are not all on the same basis. The June 2015 Coca-Cola deal split FY2015 in two 12. Net sales that year include the energy brands from Coca-Cola only from 13 June 2015, and the old non-energy brands only up to 12 June 2015 12. From 1 January 2018, certain commissions counted as a cut to net sales rather than a cost, which lowered 2018 net sales by about $42.2 million 13. Later years also include CANarchy, bought on 17 February 2022 3, and Bang Energy, bought on 31 July 2023 6.
📝 The report card
Monster scores best for cash, balance sheet and steadiness, well for profit, and in the middle for growth. Every company is graded on the same fixed scale, so an A means the same thing on every page. The strip shows where Monster Beverage (orange) and its 4 peers land; further right is better.
Growth
Monster's sales grew 9.5% ✓ a year over the three fiscal years to FY2025, which earns a C ✓. Those years are not all on the same basis. FY2022 alcohol sales ran only from 17 February 2022 3, and Monster bought Bang Energy on 31 July 2023 6. Celsius, which bought Alani Nu and the US and Canada Rockstar brand in 2025 7, grew 56.7% ✓ a year over its own latest three fiscal years, good for an A ✓.
Why this measure? (higher is better)
Growing sales is the engine of a business. Mature giants rarely grow fast, so 5% a year already earns a C.
Profitability
Over the last three years combined, Monster kept 27.5% ✓ of sales as operating profit, which earns a B ✓. Coca-Cola kept 24.9% ✓, and Celsius kept 10.9% ✓.
Why this measure? (higher is better)
Operating margin is the share of each sales dollar left after running the business. Software and platforms often clear 30%; hardware makers usually sit below 10%.
Cash generation
Over the last three years combined, Monster turned 22.4% ✓ of sales into free cash flow, an A ✓. Coca-Cola's figure was 14.1% ✓, a C ✓, and PepsiCo's was 8.2% ✓, a D ✓.
Why this measure? (higher is better)
Free cash flow is the cash left after paying for factories, data centres and equipment. It funds dividends, buybacks and new bets.
Balance sheet
At the end of FY2025, Monster's cash and investments minus its borrowings (leases and stakes in other companies not counted) equalled 33.3% ✓ of a year's sales, an A ✓. Coca-Cola's figure was -69.6% ✓, an F ✓, so it had more borrowings than cash. Monster repaid its $750.0 million term loan in April 2025 and had no borrowings under its credit facilities on 30 September 2026 11.
Why this measure? (higher is better)
More cash than debt gives a company room to ride out bad years. Some debt is normal; a lot of it makes a company fragile.
Steadiness
Monster's yearly growth swings only a little, with a standard deviation of 4.0% ✓, which earns an A ✓. Growth ranged from 4.9% ✓ in FY2024 to 20.5% ✓ in FY2021. The years behind that figure include the June 2015 Coca-Cola deal 12, the 2018 accounting change 13, the purchase of CANarchy in 2022 3 and the purchase of Bang Energy in 2023 6.
Why this measure? (lower is better)
Steady growers are easier to plan around. Big swings mean sales depend on product cycles, the economy or one-off events.
🧑🏫 How the grades work
- Same scale for everyone. Each measure has fixed cut-offs (shown under each strip). Clear the A line and you get an A, whatever your peers do.
- Three years together. Profitability and cash generation add up the last three fiscal years before dividing, so one unusual year counts for less than it would on its own (a year much bigger than the others still weighs most).
- Peers for context. The rank shows how Monster Beverage compares with the group. Companies within 0.1 percentage point share a rank.
- Same source. Every company's figures come from its own latest annual report (10-K), so fiscal years end in different months.
- Judgement, openly stated. The cut-offs are QuantVantage.ai's view of what good looks like for a large, established company. They are not a forecast or a recommendation.
11 years at a glance
Where the cash goes
Monster has spent less on buybacks than it produced in free cash flow over the long run, but in uneven steps. Over the 11 fiscal years from FY2015 to FY2025, it spent $11.4bn ✓ on buybacks, against $12.4bn ✓ of free cash flow. Those totals span the June 2015 Coca-Cola deal 12, and the purchases of CANarchy 3 and Bang Energy 6. In FY2024 Monster spent $3.8bn ✓ on buybacks. That included about $3.0 billion in a tender offer in June 2024, paid for with about $2.25 billion of its own cash and about $750 million of borrowings 35. In FY2025 it spent $0.1bn ✓. On 14 May 2026 the board authorized up to an additional $500.0 million of buybacks, and about $800.0 million remained available on 4 November 2026 3611.
🧮Ratios 101: what are Monster Beverage's key financial ratios?
Ratios turn Monster's big numbers into easy comparisons, and most of them show a company with high margins and plenty of cash. FY2015 is not a like-for-like start. Its results included a $161.5 million gain and $224.0 million of costs to end deals with old distributors 12. A ratio divides one number by another so companies of any size can be compared. Each card shows the formula with Monster Beverage's real FY2025 numbers, the peer median and the trend.
💰 Profitability: how much of each sale is kept?
Gross margin
What is left from each sale after paying to make the product or deliver the service.
👉 At 55.8% ✓, Monster is close to the 54.2% ✓ peer median. Monster counts out-bound freight and warehouse costs as running costs, not cost of sales. So its gross profit may not compare directly with firms that count them in cost of sales 4.
📏 Rule of thumb: Above 40% usually signals pricing power or a big software or services mix.
Operating margin
What is left after also paying for research, marketing and running the company.
👉 Monster's 29.2% ✓ is well above the 16.9% ✓ peer median.
📏 Rule of thumb: Above 20% is strong for a large company.
Net margin
The bottom line: profit after interest and taxes, per dollar of sales.
👉 Monster keeps 23.0% ✓ of sales as final profit, more than double the 10.6% ✓ peer median.
📏 Rule of thumb: Above 15% is strong; one-off tax items can move it in a single year.
Return on equity (ROE)
Profit earned for each dollar that shareholders have left in the company.
👉 ROE of 23.1% ✓ is a little below the 24.8% ✓ peer median. Shareholders' equity was $8.3bn ✓ at the end of FY2025.
📏 Rule of thumb: Around 15% or more is good, but buybacks shrink equity and can make ROE look huge.
⚙️ Efficiency: how hard do the assets work?
Return on assets (ROA)
Profit earned from everything the company owns, however it was paid for.
👉 ROA of 19.1% ✓ is far above the 5.7% ✓ peer median.
📏 Rule of thumb: Above 10% is strong; banks and factories usually earn less.
Asset turnover
Dollars of sales squeezed out of each dollar of assets.
👉 Monster's sales are 0.8x ✓ the value of everything it owns, above the 0.5x ✓ peer median.
📏 Rule of thumb: Retailers often top 2x; asset-heavy businesses can sit below 0.5x.
Inventory days
How many days of products sit in warehouses before they are sold.
👉 Monster holds 80 ✓ days of stock, close to the peer median of 85 ✓ days.
📏 Rule of thumb: Fewer days means less cash tied up and less risk of products going stale.
🛟 Safety: could it survive a bad year?
Current ratio
Can short-term assets (cash, money owed by customers, stock) pay the bills due within a year?
👉 Monster's 3.7x ✓ is well above the 1.2x ✓ peer median: it had $5.4bn ✓ of current assets against $1.4bn ✓ of bills due within a year.
📏 Rule of thumb: Above 1.0x is the classic comfort line, but cash-rich giants can run below it on purpose.
Debt to equity
How much the company has borrowed for each dollar shareholders have in it.
👉 Monster's 0.0x ✓ reflects total debt of $0 ✓ at the end of FY2025, against a peer median of 1.0x ✓.
📏 Rule of thumb: Below 1.0x is conservative. Like ROE, it can rise when buybacks shrink equity, even if debt has not changed.
💵 Cash and owners: where does the money end up?
Cash conversion
Does reported profit turn into real cash? Free cash flow is operating cash minus capital spending.
👉 Monster turns profit into cash at 1.0x ✓, above the 0.8x ✓ peer median.
📏 Rule of thumb: Near or above 1.0x means profits are backed by cash.
Stock pay
Pay given to staff in shares instead of cash. It is a real cost to owners because it adds shares.
👉 Stock pay is 1.5% ✓ of sales, above the 0.6% ✓ peer median.
📏 Rule of thumb: Under 5% of sales is modest for a tech company.
Shareholder payout
How much of the year's profit was handed back to owners.
👉 Monster returned 5.4% ✓ of FY2025 profit, far below the 66.6% ✓ peer median. Payouts have been uneven: FY2024 buybacks were $3.8bn ✓.
📏 Rule of thumb: Above 100% means it returned more than it earned, using cash savings or debt.
Ratios use fiscal-year-end balance sheet values. Inputs are shown rounded, so dividing them can differ from the result in the last digit. A peer median leaves out peers that do not report the inputs, or where the ratio means nothing (for example, negative shareholders' equity). Rules of thumb are general guides from QuantVantage.ai, not hard limits. No share-price ratios (like price-to-earnings) are shown on this page.
🥊Who are Monster Beverage's competitors?
Monster competes with energy drink brands such as Red Bull, Celsius and Alani Nu, and with the big drinks groups 221718192021141516. In scanner data Monster published for the four weeks to 24 October 2026, Monster Energy Company brands had 34.3% of US convenience and gas energy dollar sales 22237. In the same Monster-published data, Celsius Holdings brands had 13.7% combined 22237.
| Company | Where they compete | Revenue | Growth/yr (3y) | Op. margin | FCF margin |
|---|---|---|---|---|---|
| Monster Beverage (MNST, FY2025) | Energy drinks, plus craft beers and hard seltzers | $8.3bn | 9.5% | 29.2% | 23.7% |
| Keurig Dr Pepper (KDP, FY2025) | US energy drinks: Keurig Dr Pepper owns most of GHOST and distributes C4 and Bloom, brands Monster names among its competitors 141516 | $16.6bn | 5.7% | 21.5% | 9.1% |
| Coca-Cola (KO, FY2025) | Monster names Coca-Cola among its rivals, yet Coca-Cola held 21% of Monster at the end of 2025 and its bottlers carry Monster Energy 1718 | $47.9bn | 3.7% | 28.7% | 11.0% |
| PepsiCo (PEP, FY2025) | Energy drinks: PepsiCo distributes Celsius, Alani Nu and Rockstar in certain US channels, while Monster reaches US stores through Coca-Cola's bottlers 192021 | $93.9bn | 2.8% | 12.2% | 8.2% |
| Celsius (CELH, FY2025) | US energy drinks: Monster and Celsius each name the other as a direct competitor 22237 | $2.5bn | 56.7% | 5.6% | 12.9% |
Monster also names Red Bull, C4, Ghost, 5-Hour Energy and Rockstar in the US, plus many local and store brands abroad 22. It calls the drinks industry highly competitive, with firms competing mainly on price, packaging, new products and flavors, and promotions 22.
🧭Monster Beverage SWOT: strengths, weaknesses, opportunities and threats
💪 Strengths
- Coca-Cola's bottlers and distributors now carry Monster Energy in all US territories and nearly all others 25.
- In figures Monster published, it held 36.4% of energy drink value sales in Great Britain in the 13 weeks to 3 October 2026, up 1.2 points on a year earlier 23.
- Over the last three years combined, Monster turned 22.4% ✓ of sales into free cash flow, an A ✓.
- Monster had no borrowings under its credit facilities on 30 September 2026 11.
🩹 Weaknesses
- Monster relies heavily on one brand family: the Monster Energy Drinks segment was 92.4% of 2025 net sales 4.
- Before corporate and unallocated costs, Alcohol Brands had an operating loss of $127.0 million in 2025, after $200.3 million in 2024 4. Monster also recorded Alcohol Brands impairment charges of $53.7 million in 2025 and $138.8 million in 2024 4.
- Coca-Cola Europacific Partners made up about 15% of 2025 net sales, and Coca-Cola Consolidated about 10% 25.
- Monster must compete for its bottlers' and distributors' attention, since many are mainly tied to rival brands 22.
🚀 Opportunities
⚠️ Threats
- In figures Monster published for the four weeks to 24 October 2026, its brands held 34.3% of US convenience and gas energy dollar sales, 2.3 points lower than a year earlier 23.
- The US Dietary Guidelines released in January 2026 recommended limiting drinks such as soda, fruit drinks and energy drinks 28.
- Some US states have taken products such as energy drinks out of the Supplemental Nutrition Assistance Program, and more may follow 28.
- Canada caps the caffeine in a caffeinated energy drink at 180 mg per single-serving container, and the Netherlands limits caffeine to 35 mg per 100 ml 28.
- Latvia has announced an energy drink excise tax due to take effect on 1 January 2028 28.
- Monster lists its big business tie with Coca-Cola, and Coca-Cola's role as a major shareholder, among its challenges and risks 4.
🏰Does Monster Beverage have a moat?
Why 4?
In figures Monster published for the four weeks to 24 October 2026, its brands held 34.3% of US convenience and gas energy dollar sales, against 35.3% for Red Bull 23. That share was 2.3 points lower than a year earlier 23. In the same Monster-published figures, the Monster brand alone held 28.6% 23. Monster-published figures for Great Britain show Monster Energy Company with 36.4% of energy drink value sales in the 13 weeks to 3 October 2026, up 1.2 points on a year earlier 23. Monster backs its non-alcohol brands by sponsoring selected athletes, teams, bands and esports, along with sampling, influencers and store displays 22. It increased its sales and marketing spending by about 6.3% in 2025 22.
Why 1?
Monster lists many rivals, including Red Bull, Celsius, Alani Nu, C4, Ghost and Rockstar in the US 22. It says firms compete mainly on price, packaging, new products and flavors, and promotions 22. Monster does have long agreements, but they are with bottlers and distributors: initial terms of up to twenty years for certain energy drinks 25.
Why 3?
Coca-Cola's bottlers and distributors carry Monster Energy in all US territories and nearly all others 25. Outside bottlers and co-packers make most of Monster's finished energy drinks 25. Monster's own subsidiary develops and makes the main flavors for the Monster Energy Drinks segment 25. Monster says it aims to limit or cut per-case input and co-packing costs 4. Two Coca-Cola bottlers made up about 15% and about 10% of net sales in 2025 25.
Why 3?
Monster has more than 21,600 registered trademarks and pending applications worldwide 22. It owns in perpetuity the intellectual property of its most important flavors for certain Monster Energy drinks 22. Coca-Cola and certain affiliates have agreed, with some exceptions, not to compete in energy drinks in certain territories while their distribution agreements with Monster last 26. In September 2022, a jury awarded Monster Energy Company about $293 million in its false advertising and trade secrets case against the maker of Bang Energy 3.
A moat is what keeps rivals from taking a company's customers and profits. Scores are QuantVantage.ai's judgement (5 = strongest), set with the same rubric on every explainer (orange is Monster Beverage; grey dots are peers).
🔭What should you watch next?
New leader for the Americas
Rob Gehring, who runs the Americas for Monster Energy Company, gave notice on 21 September 2026 that he will leave on 30 November 2026 37. He will become president of Coca-Cola's North America unit 37. Monster Energy Company's Chief Strategy Officer, Emelie C. Tirre, will take over the Americas and the Caribbean for now on 1 December 2026 37.
Rodney Sacks retires as an employee
Rodney C. Sacks is scheduled to retire as a Monster employee on 31 December 2026 and to continue afterward as a non-employee director 30.
Mark Hall's departure
Mark J. Hall left Monster's board on 1 August 2026 and will leave his employment at subsidiary Monster Energy US LLC on 1 April 2027 38.
📚Learn the words
❓Frequently asked questions about Monster Beverage
How does Monster make money?
Monster makes most of its money selling energy drinks. The Monster Energy Drinks segment brought in $7.7bn ✓ of the $8.3bn ✓ Monster sold in FY2025. It mainly sells packaged drinks to bottlers and full service distributors 1.
Does Coca-Cola own Monster?
No, Monster is a separate public company, and Coca-Cola is its largest disclosed holder 2629. Coca-Cola owned about 20.9% of the common stock on 13 February 2026 and has nominated one director to the board 26.
Who makes Monster energy drinks?
Third-party bottlers and co-packers make most Monster energy drinks 125. They reach US stores mainly through Coca-Cola's bottlers and distributors 125. Monster makes Bang Energy and certain other energy drinks at its own plants in Phoenix, Arizona and Norwalk, California 25.
Who is Monster's CEO?
Hilton H. Schlosberg became Monster's sole CEO on 13 June 2025, after serving as Co-CEO since January 2021 3029. Rodney C. Sacks, the Chairman, was Co-CEO until 12 June 2025 29.
Is Monster's revenue still growing?
Yes, Monster's sales are still growing. Sales rose 10.7% ✓ in FY2025. In the four quarters to 30 June 2026 they were up 20.4% ✓ on the four quarters before. In the third quarter of 2026, net sales rose 16.7% to $2.56 billion 27.
Where does Monster make the biggest share of its sales?
The US and Canada are Monster's biggest region, at 61% ✓ in FY2025. Europe, the Middle East and Africa came next at 23% ✓.
Who does Monster compete with?
Monster's rivals include Red Bull, Celsius, Alani Nu, C4, Ghost, 5-Hour Energy and Rockstar in the US, along with local and private-label brands abroad 22. Celsius and Monster each name the other as a direct competitor 22237.
Can people under 18 buy energy drinks?
It depends on the country. Places that ban sales of energy drinks to people under 18 include Honduras, Latvia, Poland, Hungary, Turkey, Bahrain and Kuwait 28.
🎮Play: higher or lower, then test yourself
Figures come from each company's latest annual report (10-K); fiscal years end in different months. Sources: [5] [24] [9] [10] [8].
🧠 Test yourself
5 quick questions. Score: 0 / 5
1. About how much of Monster's FY2025 sales came from the Monster Energy Drinks segment?
2. What did the business Monster traces its history to sell in the 1930s?
3. Which brand came to Monster from The Coca-Cola Company in 2015?
4. What does the Strategic Brands segment mainly sell to bottlers?
5. What was Monster Beverage called before 2012?
🔎Sources and method
Every figure comes from a source listed here or is calculated from those sources (marked ✓). Company financials come from the reports each company files with the SEC (10-K annual and 10-Q quarterly reports). Peer grades rank the same measures across the company and its peers. This page contains no share-price data and no valuation.
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2025 (filed 2026-02-27) — Item 1: company, segments, history, products, packaging (accessed 2026-11-08)
- Monster Beverage (MNST) Form 10-K for fiscal year 2025, filed 2026-02-27 — revenue and cost of sales by product, segment and geography (accessed 2026-11-04)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2022 (filed 2023-03-01) — CANarchy acquisition, Alcohol Brands segment start, litigation against Vital Pharmaceuticals (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2025 (filed 2026-02-27) — Item 7: pricing, segment mix, international sales, value drivers, results, impairments (accessed 2026-11-08)
- SEC EDGAR companyfacts: Monster Beverage (MNST) — annual 10-K facts (accessed 2026-11-04)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2023 (filed 2024-02-29) — Bang Energy acquisition, 2023 stock split (accessed 2026-11-08)
- Celsius Holdings, Inc. Form 10-K for fiscal year ended December 31, 2025 — Competitors, PepsiCo distribution, Alani Nu and Rockstar acquisitions (accessed 2026-11-08)
- SEC EDGAR companyfacts: Celsius Holdings, Inc. (CELH) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: COCA COLA CO (KO) — annual 10-K facts (accessed 2026-11-04)
- SEC EDGAR companyfacts: PEPSICO INC (PEP) — annual 10-K facts (accessed 2026-11-04)
- Monster Beverage Corporation Form 10-Q for the quarter ended September 30, 2026 — Notes: stock split, repurchase plans, credit facilities (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2015 (filed 2016-02-29) — Coca-Cola transaction, segment revision, distributor termination costs, gain on sale (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2018 (filed 2019-02-28) — Effect of revenue recognition standard on 2018 net sales (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Item 1 intellectual property and licensing (accessed 2026-11-08)
- Keurig Dr Pepper Form 10-K for fiscal year 2025 — Note 4 GHOST transactions; MD&A effect on growth (accessed 2026-11-08)
- Monster Beverage Form 10-K for fiscal year 2025 — Item 1 competition and Coca-Cola bottler distribution (accessed 2026-11-08)
- The Coca-Cola Company Form 10-K for 2025 — Notes to the financial statements: acquisitions and divestitures, advertising costs, equity method holdings, customer concentration (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for 2025 — Distribution through Coca-Cola bottlers, competition, Coca-Cola holding (accessed 2026-11-08)
- PepsiCo Form 10-K for fiscal year 2025 — Item 1 competition: named competitors, US liquid refreshment share, bases of competition (accessed 2026-11-08)
- PepsiCo Form 10-K for fiscal year 2025 — Item 1 overview, incorporation, countries and the six reportable segments (accessed 2026-11-08)
- Monster Beverage Form 10-K for fiscal year 2025 — Item 1 competition with PepsiCo, Celsius, Alani Nu and Rockstar; distribution by Coca-Cola network bottlers (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2025 (filed 2026-02-27) — Item 1: competition, sales and marketing, intellectual property (accessed 2026-11-08)
- Monster Beverage investor presentation with scanner data (Exhibit 99.2 to Form 8-K, 2026-11-05) — US convenience and gas dollar share by brand; EMEA share by country (accessed 2026-11-08)
- SEC EDGAR companyfacts: Keurig Dr Pepper Inc. (KDP) — annual 10-K facts (accessed 2026-11-04)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2025 (filed 2026-02-27) — Item 1: manufacturing, distribution agreements, customers and customer concentration (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2025 (filed 2026-02-27) — Item 1A: Coca-Cola shareholding, change in control, non-compete, management voting control (accessed 2026-11-08)
- Monster Beverage press release, 2026 third quarter results (Exhibit 99.1 to Form 8-K, 2026-11-05) — Third quarter 2026 net sales, international sales, products (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2025 (filed 2026-02-27) — Item 1: government regulation of energy drinks and alcohol (accessed 2026-11-08)
- Monster Beverage definitive proxy statement (filed 2026-03-27) — Director biographies, executive officers, beneficial ownership (accessed 2026-11-08)
- Monster Beverage Form 8-K (2025-03-10) — CEO transition and Chairman transition letter (accessed 2026-11-08)
- SEC EDGAR companyfacts: Monster Beverage (MNST) — quarterly 10-Q/10-K facts (accessed 2026-11-04)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2025 (filed 2026-02-27) — Item 1: human capital (accessed 2026-11-08)
- SEC EDGAR companyfacts: Monster Beverage (MNST) — balance sheet at 2026-06-30 (accessed 2026-11-04)
- Monster Beverage Corporation Form 10-Q for the quarter ended September 30, 2026 — MD&A: pricing, segment mix, net sales, case sales, gross margin, operating expenses (accessed 2026-11-08)
- Monster Beverage Corporation Form 10-K for fiscal year ended December 31, 2024 (filed 2025-02-28) — 2024 tender offer and credit facilities (accessed 2026-11-08)
- Monster Beverage Form 8-K (2026-05-15) — May 2026 share repurchase authorization (accessed 2026-11-08)
- Monster Beverage Form 8-K (2026-09-25) — Resignation of the CEO Americas; interim Americas lead (accessed 2026-11-08)
- Monster Beverage Form 8-K (2026-06-04) — Director and employee resignation of Mark J. Hall (accessed 2026-11-08)