Filing Flows › Consumer Staples › Monster Beverage (MNST)
Monster Beverage (MNST) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 6, 2026 · Monster Beverage (MNST) Q3 2026 earnings results →
Q3 2026 Revenue up 17% year over year to $2.6B · 22¢ of every $1 of revenue kept as net profit · operating margin 28.0%
Monster Beverage made $2.6B in Q3 2026 (+17% Y/Y): Monster Energy Drinks $2.4B, Strategic Brands $156M, Alcohol Brands $28.5M. Operating margin 28.0%, net earnings $568M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 6, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $2.6B in Q3 2026, up 17% year over year and up 1% from the previous quarter. Monster Energy Drinks was the largest line at 93% of revenue. Monster Energy Drinks added $0.35B year over year (up 17%), 95% of the total change. Alcohol Brands declined 14%.
Gross margin was 54.7%, down 1.1 points from Q3 2025. Operating profit was $0.72B, a 28.0% margin (down 2.7 points year over year). Of the extra revenue versus Q3 2025, 12% reached operating profit, below the 31% margin then. Operating expenses grew 24% against revenue growth of 17%. Net earnings were $0.57B, up 8% year over year. The effective tax rate was 24.6%.
Operating cash flow was $0.56B (down 25% year over year), 98% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items used $0.07B. Capital expenditures of $0.03B left free cash flow of $0.53B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 6, 2026 | $2.6B | +17% | 28.0% | $568M | $557M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $2.5B | +20% | 29.2% | $585M | $509M |
| Q1 2026 | 10-Q | May 8, 2026 | $2.4B | +27% | 31.0% | $569M | $605M |
| Q4 2025 | 10-K | Feb 27, 2026 | $2.1B | +18% | 25.5% | $449M | $379M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $2.2B | +17% | 30.7% | $524M | $745M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $2.1B | +11% | 29.9% | $489M | $466M |
| Q1 2025 | 10-Q | May 9, 2025 | $1.9B | -2% | 30.7% | $443M | $508M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
Loading the interactive chart…
🌏Named in Asian annual reportsinteractive
Loading the interactive chart…
🔄Rotation against the market and its industry (RRG)interactive
Loading the interactive chart…
🔍Earnings qualityinteractive
Loading the interactive chart…
⚖️Fair value by methodinteractive
Loading the interactive chart…
🔭Outlook & guidanceinteractive
Loading the interactive chart…
📈Investments: gains and what it boughtinteractive
Loading the interactive chart…
🏭Its industry’s money flow (input-output)interactive
Loading the interactive chart…
Customers and suppliers named in filings
Sells to
- CCEP — 15% of its revenue · Stated in 10-K (sentence) · source
- COKE — 10% of its revenue · Stated in 10-K (sentence) · source
- KO — 3% of its revenue · Stated in 10-K (sentence) · source
About Monster Beverage
When this report uses the words “the Company”, “we”, “us” and “our”, these words refer to Monster Beverage Corporation and its subsidiaries, unless the context otherwise requires. Based in Corona, California, Monster Beverage Corporation is a holding company and conducts no operating business, except through its consolidated subsidiaries. The Company’s subsidiaries primarily develop and market energy drinks. We develop, market, sell and distribute energy drink beverages and concentrates for energy drink beverages, primarily under the following brand names:
In its own words, from its 10-K, filed Feb 27, 2026.
Monster Beverage against its Bottled & Canned Soft Drinks & Carbonated Waters peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +17% against the peers' median +17%. Operating margin: 28.0% against the peers' median 17.7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MNST Monster Beverage | Q3 2026 | $2.6B | +17% | 28.0% |
| COKE Coca-Cola Consolidated | Q3 2026 | $2.0B | +5% | 13.7% |
| CELH Celsius Holdings | Q3 2026 | $847M | +17% | 20.3% |
| FIZZ National Beverage | Q1 FY27 | $331M | 0% | 17.7% |
| ZVIA Zevia PBC | Q3 2026 | $48.3M | +18% | -4.5% |
| REED Reed's | Q2 2026 | $7.5M | -21% | -54.3% |
Source: Monster Beverage 10-Q on SEC EDGAR · CIK 865752 · Bottled & Canned Soft Drinks & Carbonated Waters
Guidance and outlook
13F: who owns MNST and who is buying
More on MNST
- How Monster Beverage makes money: revenue by segment
- Monster Beverage next earnings date and what analysts expect
- Monster Beverage stock forecast, price target and fair value
- Who owns Monster Beverage stock: holders, funds and Congress trades
- Monster Beverage guidance and outlook
- Is Monster Beverage a takeover target? LBO and rumors
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Monster Beverage guidance history: guided vs reported
- Monster Beverage gross margin by quarter
- Monster Beverage operating margin by quarter
- Monster Beverage net income by quarter
- Monster Beverage free cash flow by quarter
- Monster Beverage capital expenditures by quarter
- Monster Beverage Monster Energy Drinks revenue by quarter
- Monster Beverage Strategic Brands revenue by quarter
- Monster Beverage Alcohol Brands revenue by quarter