Market Cap : 48.38 B | Enterprise Value : 46.71 B | P/E (TTM) : 41.10 | P/B : 10.44 |
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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Monster Beverage's annualized Net Income for the quarter that ended in Sep. 2020 was $1,391 Mil. Monster Beverage's average total tangible assets for the quarter that ended in Sep. 2020 was $3,057 Mil. Therefore, Monster Beverage's annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2020 was 45.50%.
During the past 13 years, Monster Beverage's highest Return-on-Tangible-Asset was 45.07%. The lowest was 19.01%. And the median was 29.22%.
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
* The bar in red indicates where Monster Beverage's Return-on-Tangible-Asset falls into.
Monster Beverage's annualized Return-on-Tangible-Asset for the fiscal year that ended in Dec. 2019 is calculated as:
Return-on-Tangible-Asset | = | Net Income | / | ( (Total Tangible Assets | + | Total Tangible Assets) | / count ) |
(A: Dec. 2019 ) | (A: Dec. 2018 ) | (A: Dec. 2019 ) | |||||
= | Net Income | / | ( (Total Assets - Intangible Assets | + | Total Assets - Intangible Assets) | / count ) | |
(A: Dec. 2019 ) | (A: Dec. 2018 ) | (A: Dec. 2019 ) | |||||
= | 1107.835 | / | ( (2149.37 | + | 2766.604) | / 2 ) | |
= | 1107.835 | / | 2457.987 | ||||
= | 45.07 % |
Monster Beverage's annualized Return-on-Tangible-Asset for the quarter that ended in Sep. 2020 is calculated as:
Return-on-Tangible-Asset | = | Net Income | / | ( (Total Tangible Assets | + | Total Tangible Assets) | / count ) |
(Q: Sep. 2020 ) | (Q: Jun. 2020 ) | (Q: Sep. 2020 ) | |||||
= | Net Income | / | ( (Total Assets - Intangible Assets | + | Total Assets - Intangible Assets) | / count ) | |
(Q: Sep. 2020 ) | (Q: Jun. 2020 ) | (Q: Sep. 2020 ) | |||||
= | 1390.616 | / | ( (2806.626 | + | 3306.503) | / 2 ) | |
= | 1390.616 | / | 3056.5645 | ||||
= | 45.50 % |
* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data, the Net Income data used here is four times the quarterly (Sep. 2020) net income data.
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
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