Celsius 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 $2.5B for Celsius, about 3.3 times as much.
- Celsius grew revenue faster (85.5%, against 10.7%).
- Monster Beverage kept more of each dollar of sales as operating profit (29.2% operating margin, against 5.6%).
- Monster Beverage turned more of its sales into free cash flow (23.7% FCF margin, against 12.9%).
- Monster Beverage earned a higher return on the capital invested in it (36.1%, against 25.1%).
- Investors pay more for each dollar of Celsius’s earnings: a P/E of 123.8x against 21.4x for Monster Beverage.
| Latest fiscal year | CELH · FY25 | MNST · FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.3B | $45.7B |
| Revenue | $2.5B | $8.3B |
| Free cash flow | $323M | $2.0B |
| Net income | $108M | $1.9B |
| Growth | ||
| Revenue growth | 85.5% | 10.7% |
| 5-year growth | 80.7% | 12.5% |
| Share count change | 7.4% | −2.8% |
| Profitability | ||
| Gross margin | 50.4% | 55.9% |
| Operating margin | 5.6% | 29.2% |
| Net margin | 4.3% | 23.0% |
| FCF margin | 12.9% | 23.7% |
| Return on capital | 25.1% | 36.1% |
| Return on equity | 13.7% | 26.8% |
| Balance sheet | ||
| Net debt | $278M | −$2.8B |
| Net debt / EBITDA | 1.6x | −1.1x |
| Dividends and buybacks | $5.7M | $104M |
| Valuation & quality | ||
| P/E | 123.8x | 21.4x |
| Piotroski F-score | 5 | 9 |
FY16
CELH $22.8M
MNST $3.0B
FY17
CELH $36.2M
MNST $3.4B
FY18
CELH $52.6M
MNST $3.8B
FY19
CELH $75.1M
MNST $4.2B
FY20
CELH $131M
MNST $4.6B
FY21
CELH $314M
MNST $5.5B
FY22
CELH $654M
MNST $6.3B
FY23
CELH $1.3B
MNST $7.1B
FY24
CELH $1.4B
MNST $7.5B
FY25
CELH $2.5B
MNST $8.3B
CELH
MNST
FY16
CELH −12.5%
MNST 35.6%
FY17
CELH −22.3%
MNST 35.6%
FY18
CELH −20.2%
MNST 33.7%
FY19
CELH −1.9%
MNST 33.4%
FY20
CELH 6.1%
MNST 35.5%
FY21
CELH −1.3%
MNST 32.4%
FY22
CELH −24.1%
MNST 25.1%
FY23
CELH 20.2%
MNST 27.4%
FY24
CELH 11.5%
MNST 25.8%
FY25
CELH 5.6%
MNST 29.2%
CELH
MNST
FY16
CELH −$2.4M
MNST $602M
FY17
CELH −$8.5M
MNST $904M
FY18
CELH −$11.8M
MNST $1.1B
FY19
CELH $1.0M
MNST $1.0B
FY20
CELH $2.8M
MNST $1.3B
FY21
CELH −$99.7M
MNST $1.1B
FY22
CELH $99.9M
MNST $699M
FY23
CELH $124M
MNST $1.5B
FY24
CELH $240M
MNST $1.7B
FY25
CELH $323M
MNST $2.0B
CELH
MNST
FY16
CELH —
MNST 31.0%
FY17
CELH —
MNST 30.2%
FY18
CELH —
MNST 36.9%
FY19
CELH —
MNST 40.0%
FY20
CELH —
MNST 47.7%
FY21
CELH —
MNST 41.7%
FY22
CELH —
MNST 30.6%
FY23
CELH —
MNST 33.0%
FY24
CELH —
MNST 29.9%
FY25
CELH 25.1%
MNST 36.1%
CELH
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.