Coca-Cola Consolidated vs Monster Beverage
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The short version
- Monster Beverage is the larger business, with $8.3B of revenue in fiscal 2025 against $7.2B for Coca-Cola Consolidated.
- Monster Beverage grew revenue faster (10.7%, against 4.8%).
- Monster Beverage kept more of each dollar of sales as operating profit (29.2% operating margin, against 13.2%).
- Monster Beverage turned more of its sales into free cash flow (23.7% FCF margin, against 8.6%).
- Coca-Cola Consolidated earned a higher return on the capital invested in it (39.7%, against 36.1%).
| Latest fiscal year | COKE · FY25 | MNST · FY25 |
|---|---|---|
| Size | ||
| Market cap | — | $45.7B |
| Revenue | $7.2B | $8.3B |
| Free cash flow | $620M | $2.0B |
| Net income | $571M | $1.9B |
| Growth | ||
| Revenue growth | 4.8% | 10.7% |
| 5-year growth | 7.6% | 12.5% |
| Share count change | — | −2.8% |
| Profitability | ||
| Gross margin | 39.7% | 55.9% |
| Operating margin | 13.2% | 29.2% |
| Net margin | 7.9% | 23.0% |
| FCF margin | 8.6% | 23.7% |
| Return on capital | 39.7% | 36.1% |
| Return on equity | 168.3% | 26.8% |
| Balance sheet | ||
| Net debt | $2.5B | −$2.8B |
| Net debt / EBITDA | 2.2x | −1.1x |
| Dividends and buybacks | $2.7B | $104M |
| Valuation & quality | ||
| P/E | — | 21.4x |
| Piotroski F-score | — | 9 |
Revenue
FY16
COKE $3.1B
MNST $3.0B
FY17
COKE $4.3B
MNST $3.4B
FY18
COKE $4.6B
MNST $3.8B
FY19
COKE $4.8B
MNST $4.2B
FY20
COKE $5.0B
MNST $4.6B
FY21
COKE $5.6B
MNST $5.5B
FY22
COKE $6.2B
MNST $6.3B
FY23
COKE $6.7B
MNST $7.1B
FY24
COKE $6.9B
MNST $7.5B
FY25
COKE $7.2B
MNST $8.3B
COKE
MNST
Operating margin
FY16
COKE 4.2%
MNST 35.6%
FY17
COKE 2.4%
MNST 35.6%
FY18
COKE 1.3%
MNST 33.7%
FY19
COKE 3.7%
MNST 33.4%
FY20
COKE 6.3%
MNST 35.5%
FY21
COKE 7.9%
MNST 32.4%
FY22
COKE 10.3%
MNST 25.1%
FY23
COKE 12.5%
MNST 27.4%
FY24
COKE 13.3%
MNST 25.8%
FY25
COKE 13.2%
MNST 29.2%
COKE
MNST
Free cash flow
FY16
COKE −$10.6M
MNST $602M
FY17
COKE $131M
MNST $904M
FY18
COKE $30.6M
MNST $1.1B
FY19
COKE $119M
MNST $1.0B
FY20
COKE $292M
MNST $1.3B
FY21
COKE $366M
MNST $1.1B
FY22
COKE $256M
MNST $699M
FY23
COKE $528M
MNST $1.5B
FY24
COKE $505M
MNST $1.7B
FY25
COKE $620M
MNST $2.0B
COKE
MNST
Return on capital
FY16
COKE 7.5%
MNST 31.0%
FY17
COKE 7.3%
MNST 30.2%
FY18
COKE 2.9%
MNST 36.9%
FY19
COKE 6.4%
MNST 40.0%
FY20
COKE 15.9%
MNST 47.7%
FY21
COKE 23.0%
MNST 41.7%
FY22
COKE 33.2%
MNST 30.6%
FY23
COKE 41.7%
MNST 33.0%
FY24
COKE 42.8%
MNST 29.9%
FY25
COKE 39.7%
MNST 36.1%
COKE
MNST
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.