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Held by 375 of 2,417 reporting institutions (98th percentile) — extremely crowded.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 13 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KO | $404.7B | 30.9× | 26.6× | 8.4× | 1.9% | 61.6% | 27.3% | 40.7% | 40.7% | -0.7× | 1,417 |
| PEP | $187.2B | 22.9× | 15.2× | 2.0× | 2.3% | 54.1% | 8.8% | 40.4% | 11.8% | 2.7× | 1,218 |
| MNST | $92.7B | — | 35.8× | 11.2× | 10.7% | 55.8% | 23.0% | 23.1% | 23.1% | -0.8× | 375 |
| KDP | $48.8B | 23.4× | 15.8× | 2.9× | 8.2% | 54.2% | 12.5% | 8.1% | 5.0% | 3.8× | 226 |
| STZ | $22.9B | — | 10.4× | 2.5× | -10.5% | 51.6% | 18.5% | 20.9% | 9.3% | 3.1× | 263 |
| COKE | $14.0B | — | 14.4× | 1.9× | 4.8% | 39.7% | 7.9% | -77.1% | 27.9% | 2.2× | 151 |
| TAP | $7.5B | — | — | 0.6× | -5.1% | 32.8% | -16.4% | -20.9% | -12.9% | — | 145 |
| CELH | $7.4B | 116.5× | 44.8× | 2.9× | 85.5% | 50.4% | 4.3% | 9.1% | 5.8% | 1.6× | 108 |
| PRMB | $7.1B | 123.4× | 11.5× | 1.1× | 29.3% | 30.3% | 0.9% | 2.0% | 0.7% | 4.6× | 63 |
| COCO | $3.3B | 49.1× | 37.6× | 5.5× | 18.2% | 36.5% | 11.7% | 21.5% | 21.5% | -2.4× | 70 |
| FIZZ | $3.3B | 18.0× | 11.7× | 2.8× | -1.7% | 37.0% | 15.6% | 28.9% | 28.9% | -1.4× | 40 |
| SAM | $2.0B | 20.4× | 7.7× | 1.0× | -2.4% | 48.5% | 5.5% | 12.8% | 12.8% | -0.9× | 72 |
| MALG | $914M | 55.6× | 36.6× | 24.4× | — | 72.1% | 49.9% | 66.1% | 66.1% | -0.1× | — |
| BRCC | $315M | — | — | 0.8× | 1.7% | 34.6% | -3.0% | -26.1% | -14.8% | — | 3 |
Peers = companies sharing MNST's sector (Bottled & Canned Soft Drinks & Carbonated Waters) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Solve the discounted cash flow backwards, then stress-test the assumptions.
Average free cash flow across the last 3 positive fiscal years (FY2023, FY2024, FY2025). Smooths the cycle. Stock compensation is NOT charged — it is added back inside operating cash flow.
To be worth $47.34 today, the market must believe free cash flow compounds 15.1%/yr for a decade (off $1.71B on the 3-yr avg basis).
On the basis ($1.61B) the requirement is 15.9%/yr. Shares issued to employees are added back in operating cash flow, so this basis treats them as free.
The market's 15.1% is more optimistic than its 9-yr track record.
Default is 7.7% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 1.96B shares (market data) · net debt -$2.09B
mean 20.5% · volatility σ 44% · implied rate exceeded in 5/9 yrs
Central path = implied 15.1%/yr growth; shaded band = ±1σ (44%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $103.6M buybacks = $103.6M returned on $1.97B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 23%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest expense isn't separately reported — often netted into “other income (expense), net.”
Cash vs short-term debt unavailable.
Short-term / long-term split not separately reported.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.29B 100.0% | $7.49B 100.0% | $7.14B 100.0% | $6.31B 100.0% | $5.54B 100.0% | $4.60B 100.0% | $4.20B 100.0% | $3.81B 100.0% | $3.37B 100.0% | $3.05B 100.0% |
| Cost of Revenue | $3.66B 44.2% | $3.44B 46.0% | $3.35B 46.9% | $3.14B 49.7% | $2.43B 43.9% | $1.87B 40.8% | $1.68B 40.0% | $1.51B 39.7% | $1.23B 36.5% | $1.11B 36.3% |
| Cost of Products | — | — | — | — | — | — | — | $1.51B 39.7% | $1.23B 36.5% | $1.11B 36.3% |
| Gross Profit | $4.63B 55.8% | $4.05B 54.0% | $3.79B 53.1% | $3.17B 50.3% | $3.11B 56.1% | $2.72B 59.2% | $2.52B 60.0% | $2.30B 60.3% | $2.14B 63.5% | $1.94B 63.7% |
| Total Operating Expenses | $2.21B 26.7% | $2.12B 28.3% | $1.84B 25.8% | $1.59B 25.2% | $1.31B 23.7% | $1.09B 23.7% | $1.12B 26.6% | $1.01B 26.6% | $938.9M 27.9% | $856.7M 28.1% |
| Operating Income | $2.42B 29.2% | $1.93B 25.8% | $1.95B 27.4% | $1.58B 25.1% | $1.80B 32.4% | $1.63B 35.5% | $1.40B 33.4% | $1.28B 33.7% | $1.20B 35.6% | $1.09B 35.6% |
| Other Income (Expense), net | $63.2M 0.8% | $59.2M 0.8% | $115.1M 1.6% | -$12.8M -0.2% | $4.0M 0.1% | -$7.0M -0.2% | $13.0M 0.3% | $9.7M 0.3% | $2.8M 0.1% | -$5.7M -0.2% |
| Pretax Income | $2.48B 29.9% | $1.99B 26.6% | $2.07B 29.0% | $1.57B 24.9% | $1.80B 32.5% | $1.63B 35.4% | $1.42B 33.7% | $1.29B 34.0% | $1.20B 35.7% | $1.08B 35.4% |
| Income Tax Expense | $577.1M 7.0% | $480.4M 6.4% | $437.5M 6.1% | $380.3M 6.0% | $423.9M 7.7% | $216.6M 4.7% | $308.1M 7.3% | $300.3M 7.9% | $380.9M 11.3% | $367.0M 12.0% |
| Net Income | $1.91B 23.0% | $1.51B 20.1% | $1.63B 22.8% | $1.19B 18.9% | $1.38B 24.9% | $1.41B 30.7% | $1.11B 26.4% | $993.0M 26.1% | $820.7M 24.4% | $712.7M 23.4% |
| Per Share | ||||||||||
| Weighted Avg Shares (Basic) | 975.9M | 1.00B | 1.04B | 1.05B | 1.06B | 529.6M | 542.2M | 557.2M | 566.8M | 587.9M |
| Weighted Avg Shares (Diluted) | 984.5M | 1.01B | 1.06B | 1.07B | 1.07B | 534.8M | 546.6M | 564.3M | 577.1M | 599.8M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 5th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 23% against ROIC 23% — 0% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 26.8% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 2.4× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 39.7 | 40.0 | 40.8 | 43.9 | 49.7 | 46.9 | 46.0 | 44.2 |
| Gross Profit | 60.3 | 60.0 | 59.2 | 56.1 | 50.3 | 53.1 | 54.0 | 55.8 |
| Operating Income | 33.7 | 33.4 | 35.5 | 32.4 | 25.1 | 27.4 | 25.8 | 29.2 |
| Income Tax | 7.9 | 7.3 | 4.7 | 7.7 | 6.0 | 6.1 | 6.4 | 7.0 |
| Net Income | 26.1 | 26.4 | 30.7 | 24.9 | 18.9 | 22.8 | 20.1 | 23.0 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on MNST: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
Earns 21.85pts above its cost of capital, positive in 5 of the last 5 years.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 31.0% | 7.7% (today's — no rate published for this year) | 23.3pts |
| FY2020 | 30.9% | 7.7% (today's — no rate published for this year) | 23.2pts |
| FY2021 | 25.9% | 6.4% | 19.6pts |
| FY2022 | 20.8% | 7.6% | 13.2pts |
| FY2023 | 24.5% | 7.5% | 17.0pts |
| FY2024 | 29.7% | 8.2% | 21.6pts |
| FY2025 | 29.5% | 6.8% | 22.7pts |
| Now | 23.1% | 7.7% | 15.4pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2016 | 63.7% | 35.6% | 23.4% |
| FY2017 | 63.5% | 35.6% | 24.4% |
| FY2018 | 60.3% | 33.7% | 26.1% |
| FY2019 | 60.0% | 33.4% | 26.4% |
| FY2020 | 59.2% | 35.5% | 30.7% |
| FY2021 | 56.1% | 32.4% | 24.9% |
| FY2022 | 50.3% | 25.1% | 18.9% |
| FY2023 | 53.1% | 27.4% | 22.8% |
| FY2024 | 54.0% | 25.8% | 20.1% |
| FY2025 | 55.8% | 29.2% | 23.0% |
Return on equity (23%) and return on invested capital (23%) are within a couple of points in FY2025, so the headline return is the operating return — there is no meaningful leverage effect to strip out.
$1.3B of goodwill — 21% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
ROIC ex-goodwill is 37.46% against 29.56% reported — the return is earned on a capital base inflated by what was paid for acquisitions, not by the operating business alone.
Converts 0.89x of reported profit into cash — adequate, without much margin.
Shares outstanding are up 82% since FY2019 — per-share cash flow has grown more slowly than the totals above, and the gap is the owners'.
No debt, so there is no leverage path to distress.
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
At $47.34, free cash flow must compound 15.14%/yr for 10 years. It has done 11.7%/yr over 6 years.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 30.0% | 15.1% |
| FY2021 | −15.5% | 15.1% |
| FY2022 | −37.1% | 15.1% |
| FY2023 | 114.1% | 15.1% |
| FY2024 | 11.2% | 15.1% |
| FY2025 | 18.1% | 15.1% |
The percentile ranks the FISCAL-YEAR point, because the distribution behind each strip is built from fiscal-year closes — ranking a TTM figure inside it would compare two different bases. TTM basis: TTM.
The implied rate has been matched or beaten in 3 of the last 6 years.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-07 | Hall Tiffany M. Director | Grant | 270 | $42.88 | — |
| 2026-10-07 | Demel Ana Director | Grant | 539 | $42.88 | — |
| 2026-10-07 | Jackson Jeanne P Director | Grant | 670 | $42.88 | — |
| 2026-09-14 | Schlosberg Hilton H Vice Chairman and CEO | Gift | 1,690 | $0.00 | $0 |
| 2026-09-03 | 3 co-filers CEO, Americas | Option exercise | 20,000 | — | — |
| 2026-09-03 | 3 co-filers CEO, Americas | Tax withholding | 8,760 | $44.08 | $386k |
| 2026-09-03 | 3 co-filers CEO, Americas | Option exercise | 20,000 | $0.00 | — |
| 2026-07-08 | Hall Tiffany M. Director | Grant | 122 | $95.15 | — |
| 2026-07-08 | Demel Ana Director | Grant | 243 | $95.15 | — |
| 2026-07-08 | Jackson Jeanne P Director | Grant | 302 | $95.15 | — |
| 2026-06-10 | Carling Guy CEO, EMEA and OSP | Open-market sale | 19,000 | $90.90 | $1.7m |
| 2026-05-22 | 2 co-filers Group filing | Other | 697,495 | $0.00 | $0 |
| 2026-05-22 | 2 co-filers Vice Chairman and CEO | Other | 1,151,867 | $0.00 | $0 |
| 2026-05-22 | 2 co-filers Vice Chairman and CEO | Gift | 5,908 | $0.00 | $0 |
| 2026-05-22 | 2 co-filers Group filing | Gift | 11,585 | $0.00 | $0 |
| 2026-05-14 | 9 co-filers Group filing | Option exerciseindirect | 12,000 | $44.47 | $534k |
| 2026-05-14 | 3 co-filers Group filing | Grant | 2,039 | $0.00 | — |
| 2026-05-14 | 3 co-filers Group filing | Grant | 2,039 | $0.00 | — |
| 2026-05-14 | 3 co-filers Group filing | Grant | 2,039 | $0.00 | — |
| 2026-05-14 | 3 co-filers Group filing | Grant | 2,039 | $0.00 | — |
| 2026-05-14 | 3 co-filers Group filing | Grant | 2,039 | $0.00 | — |
| 2026-05-14 | 9 co-filers Group filing | Option exerciseindirect | 15,000 | $36.62 | $549k |
| 2026-05-14 | 3 co-filers Group filing | Grant | 2,039 | $0.00 | — |
| 2026-05-14 | 9 co-filers Group filing | Option exerciseindirect | 12,000 | $50.82 | $610k |
| 2026-05-14 | 3 co-filers Group filing | Grant | 2,039 | $0.00 | — |
| 2026-05-14 | 9 co-filers Group filing | Option exerciseindirect | 15,000 | $60.30 | $905k |
| 2026-05-14 | 9 co-filers Group filing | Exercise & sellindirect | 54,000 | $85.81 | $4.6m |
| 2026-05-14 | 9 co-filers Group filing | Option exercise | 12,000 | $0.00 | — |
| 2026-05-14 | 9 co-filers Group filing | Option exercise | 15,000 | $0.00 | — |
| 2026-05-14 | 14 co-filers Chief Strategy Officer | Exercise & sell | 10,000 | $85.74 | $857k |
| 2026-05-14 | 9 co-filers Group filing | Option exercise | 12,000 | $0.00 | — |
| 2026-05-14 | 14 co-filers Chief Strategy Officer | Option exercise | 2,248 | $44.47 | $100k |
| 2026-05-14 | 9 co-filers Group filing | Option exercise | 15,000 | $0.00 | — |
| 2026-05-13 | 3 co-filers Group filing | Option exercise | 2,748 | — | — |
| 2026-05-13 | 3 co-filers Group filing | Option exercise | 2,748 | — | — |
| 2026-05-13 | 3 co-filers Group filing | Option exercise | 2,748 | — | — |
| 2026-05-13 | 14 co-filers Chief Strategy Officer | Option exercise | 17,752 | $44.47 | $789k |
| 2026-05-13 | 3 co-filers Group filing | Option exercise | 2,748 | — | — |
| 2026-05-13 | Kelly Thomas J Chief Financial Officer | Open-market sale | 7,000 | $87.81 | $615k |
| 2026-05-13 | 3 co-filers Group filing | Option exercise | 2,748 | — | — |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| Step | Amount | Running total |
|---|---|---|
| Net income | $1.91B | $1.91B |
| Share-based comp | $126M | $2.03B |
| Other non-cash & working capital | $67M | $2.10B |
| Operating cash flow | $2.10B | $2.10B |
| Capex | −$132M | $1.97B |
| Free cash flow | $1.97B | $1.97B |
| FCF after SBC | $1.84B | $1.84B |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2020 | 9.5% | 23.3% | 13.8 points |
| FY2021 | 20.5% | 34.6% | 14.1 points |
| FY2022 | 13.9% | 13.3% | -0.6 points |
| FY2023 | 13.1% | 17.5% | 4.3 points |
| FY2024 | 4.9% | 2.3% | -2.6 points |
| FY2025 | 10.7% | 32.5% | 21.8 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2019 | 46.9 days | 78.3 days | 59.5 days | 65.8 days |
| FY2020 | 52.9 days | 64.8 days | 57.8 days | 59.9 days |
| FY2021 | 59.1 days | 89 days | 60.7 days | 87.4 days |
| FY2022 | 58.8 days | 108.9 days | 51.7 days | 116 days |
| FY2023 | 61 days | 106 days | 61.6 days | 105.4 days |
| FY2024 | 59.5 days | 78.1 days | 49.5 days | 88.2 days |
| FY2025 | 71.2 days | 79.7 days | 56.4 days | 94.5 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2019 | -0.1 percent |
| FY2020 | 0.7 percent |
| FY2021 | 2.8 percent |
| FY2022 | 3.7 percent |
| FY2023 | -0.9 percent |
| FY2024 | -5.4 percent |
| FY2025 | -1.9 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2025) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.