BellRing Brands Inc (BRBR) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q3 26	$0.37	$0.3	-18.9%	—	$570.4M	—
Q2 26	$0.31	$0.14	-54.8%	—	$598.7M	—
Q1 26	$0.32	$0.37	+15.6%	—	$537.3M	—
Q4 25	$0.55	$0.51	-7.3%	—	$648.2M	—
Q3 25	$0.5	$0.55	+10.0%	—	$547.5M	—
Q2 25	$0.53	$0.53	0.0%	—	$588M	—
Q1 25	$0.48	$0.58	+20.8%	—	$532.9M	—
Q4 24	$0.51	$0.51	0.0%	—	$555.8M	—
Q3 24	$0.44	$0.54	+22.7%	—	$515.4M	—
Q2 24	$0.33	$0.45	+36.4%	—	$494.6M	—
Q1 24	$0.4	$0.43	+7.5%	—	$430.4M	—
Q4 23	$0.39	$0.41	+5.1%	—	$472.6M	—
Q3 23	$0.32	$0.34	+6.3%	—	$445.9M	—
Q2 23	$0.2	$0.24	+20.0%	—	$385.6M	—
Q1 23	$0.27	$0.33	+22.2%	—	$362.7M	—
Q4 22	$0.29	$0.31	+6.9%	—	$379.2M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.7	—	—	$2.3B	—
FY24	—	$1.89	—	—	$2B	—
FY23	—	$1.24	—	—	$1.7B	—
FY22	—	$0.88	—	—	$1.4B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$574.7M	$713.2M	$827.5M	$854.4M	$988.3M	$1.2B	$1.4B	$1.7B	$2B	$2.3B
YoY change	—	+24.1%	+16%	+3.25%	+15.7%	+26.2%	+9.98%	+21.5%	+19.8%	+16.1%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	574.7M	713.2M	827.5M	854.4M	988.3M	1.2B	1.4B	1.7B	2B	2.3B
Cost of revenue	395.5M	467.4M	549.8M	542.6M	650.3M	860.9M	949.7M	1.1B	1.3B	1.5B
Gross profit	179.2M	245.8M	277.7M	311.8M	338M	386.2M	421.8M	530.2M	707.3M	770.4M
Gross margin	31.2%	34.5%	33.6%	36.5%	34.2%	31%	30.8%	31.8%	35.4%	33.3%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	119.8M	131M	135.1M	127.1M	151.8M	167.1M	189.7M	216.3M	284.6M	396M
Operating expenses	124.7M	130.9M	135.1M	127.1M	151.8M	167M	189.7M	216.3M	284.6M	396M
Operating income	31.7M	92.1M	119.8M	162.5M	164M	168M	212.4M	287.3M	387.7M	357.4M
Operating margin	5.52%	12.9%	14.5%	19%	16.6%	13.5%	15.5%	17.2%	19.4%	15.4%
Non-operating income, net	—	-26.5M	—	—	—	-1.6M	-17.6M	—	—	—
Pretax income	31.7M	65.6M	119.8M	162.5M	109.3M	123.2M	145.6M	220.4M	329.4M	289M
Income tax	11.8M	30.4M	23.7M	39.4M	9.2M	8.8M	29.6M	54.9M	82.9M	72.8M
Net income	19.9M	35.2M	96.1M	123.1M	100.1M	114.4M	116M	165.5M	246.5M	216.2M
Net margin	3.46%	4.94%	11.6%	14.4%	10.1%	9.17%	8.46%	9.93%	12.3%	9.33%
EBITDA	56.7M	143.9M	145.7M	187.8M	189.3M	221.7M	233.7M	315.6M	424.2M	376M
EPS	0.58	1.03	0	4.1	0.6	0.7	0.88	1.24	1.89	1.7
Diluted EPS	0.58	1.03	0	4.1	0.6	0.7	0.88	1.23	1.86	1.68

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	472.6M	430.4M	494.6M	515.4M	555.8M	532.9M	588M	547.5M	648.2M	537.3M	598.7M	570.4M
Cost of revenue	317.3M	282.4M	330.3M	325.5M	350.7M	333.3M	398.2M	353.9M	460.8M	376.5M	437M	407.1M
Gross profit	155.3M	148M	164.3M	189.9M	205.1M	199.6M	189.8M	193.6M	187.4M	160.8M	161.7M	163.3M
Gross margin	32.9%	34.4%	33.2%	36.8%	36.9%	37.5%	32.3%	35.4%	28.9%	29.9%	27%	28.6%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	65.2M	52.8M	69.1M	74M	88.7M	80.1M	90.5M	144.5M	80.9M	78M	91.5M	93.7M
Operating expenses	65.2M	52.8M	69.1M	74M	88.7M	80.1M	90.5M	144.5M	80.9M	78M	91.5M	93.7M
Operating income	78.1M	73M	91M	111.6M	112.1M	115.3M	95.1M	44.8M	102.2M	78.5M	66M	65.4M
Operating margin	16.5%	17%	18.4%	21.7%	20.2%	21.6%	16.2%	8.18%	15.8%	14.6%	11%	11.5%
Non-operating income, net	—	—	—	—	—	—	—	—	—	—	—	—
Pretax income	62M	58.1M	76.5M	97.2M	97.6M	100.9M	78.6M	26.4M	83.1M	58.5M	45.9M	45.5M
Income tax	15.9M	14.2M	19.3M	23.5M	25.9M	24M	19.9M	5.4M	23.5M	14.8M	12M	11.3M
Net income	46.1M	43.9M	57.2M	73.7M	71.7M	76.9M	58.7M	21M	59.6M	43.7M	33.9M	34.2M
Net margin	9.75%	10.2%	11.6%	14.3%	12.9%	14.4%	9.98%	3.84%	9.19%	8.13%	5.66%	6%
EBITDA	90.6M	95.6M	95.6M	116.2M	116.8M	119.9M	99.7M	49.4M	107M	83.4M	70.9M	70.6M
EPS	—	0.33	0.44	0.57	0.56	0.59	0.46	0.17	0.48	0.37	0.29	0.29
Diluted EPS	—	0.33	0.43	0.56	0.55	0.59	0.45	0.16	0.48	0.36	0.29	0.29

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	—	—	—	—	—	1.2B	—	—	7.9B	4.6B	901.2M
Enterprise value	—	—	—	—	—	1.7B	—	—	8.7B	5.6B	2B
Shares outstanding	34.3M	34.3M	34.3M	30M	39.4M	39.5M	93.5M	133M	130.3M	126.9M	126.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	—	—	—	—	—	10.6	—	—	32.1	21.3	5.45
P/S	—	—	—	—	—	0.97	—	—	3.96	1.99	0.38
P/B	—	—	—	—	—	-18.5	—	—	-38.4	-10.2	-1.93
EV/EBITDA	—	—	—	—	—	7.49	—	—	20.4	15	6.15
EV/Sales	—	—	—	—	—	1.33	—	—	4.35	2.43	0.87
Earnings yield	—	—	—	—	—	9.42%	—	—	3.12%	4.69%	18.3%
FCF yield	—	—	—	—	—	18.5%	—	—	2.5%	5.55%	22.3%
PEG	—	—	—	—	—	—	—	—	—	—	0.08

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	31.2%	34.5%	33.6%	36.5%	34.2%	31%	30.8%	31.8%	35.4%	33.3%	28.6%
Operating margin	5.52%	12.9%	14.5%	19%	16.6%	13.5%	15.5%	17.2%	19.4%	15.4%	11.5%
Net margin	3.46%	4.94%	11.6%	14.4%	10.1%	9.17%	8.46%	9.93%	12.3%	9.33%	7.28%
ROE	—	7.27%	21.3%	25.3%	-62.2%	-174.7%	-30.8%	-51.2%	-119.7%	-47.6%	-47.6%
ROA	—	6.04%	17.1%	20.7%	15.3%	16.4%	16.4%	23.9%	29.5%	23%	19.1%
ROIC	—	10.3%	21.8%	25.6%	31.5%	41.1%	32.7%	44.5%	52.2%	47.9%	37.2%
Return on tangible assets	—	-15.2%	-46%	-94.5%	-372.1%	96.5%	68.7%	80.3%	58.5%	38.7%	24.6%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	—	2.16	1.74	2.37	1.9	1.54	2.94	2.82	2.91	2.35	2.25
Quick ratio	—	1.05	1.08	0.88	0.91	1.08	1.54	1.53	1.51	1.18	0.86
Debt / equity	—	0	0	0	-4.26	-9.12	-2.47	-2.65	-4.05	-2.39	-0.03
Debt / assets	—	0	0	0	1.05	0.86	1.31	1.24	1	1.15	1.08
Net debt / EBITDA	—	-0.04	-0.07	-0.03	3.37	2.01	3.82	2.56	1.8	2.69	3.27
Interest coverage	—	—	—	—	3	3.85	3.96	4.29	6.65	5.23	3.95
Effective tax rate	37.2%	46.3%	19.8%	24.2%	8.42%	7.14%	20.3%	24.9%	25.2%	25.2%	26.4%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	16.8	20.8	24.1	28.5	25.1	31.6	14.7	12.5	15.3	18.3	19.7
EPS (basic)	0.58	1.03	0	4.1	0.6	0.7	0.88	1.24	1.89	1.7	1.7
EPS (diluted)	0.58	1.03	0	4.1	0.6	0.7	0.88	1.23	1.86	1.68	1.42
Book value per share	—	14.1	13.2	16.2	-4.09	-1.66	-4.02	-2.43	-1.58	-3.58	-4.02
FCF per share	1.06	2.23	3.97	3.17	2.41	5.68	0.21	1.61	1.52	2.02	1.93
Cash per share	—	0.23	0.32	0.18	1.24	3.86	0.38	0.36	0.55	0.57	0.43
Capex per share	0.08	0.06	0.15	0.11	0.05	0.04	0.02	0.01	0.01	—	—

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	0.45%	0.29%	0.6%	0.37%	0.21%	0.13%	0.13%	0.11%	0.09%	—	—
Capex / operating cash flow	6.24%	3.7%	3.66%	3.11%	2.06%	0.7%	78.3%	0.83%	0.89%	—	—
Payout ratio	—	—	138.4%	81.4%	32.1%	21.5%	—	—	—	—	0%
Dividend yield	—	—	—	—	—	2.03%	—	—	—	—	—

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Revenue	$472.6M	$430.4M	$494.6M	$515.4M	$555.8M	$532.9M	$588M	$547.5M	$648.2M	$537.3M	$598.7M	$570.4M
YoY change	+24.6%	+18.7%	+28.3%	+15.6%	+17.6%	+23.8%	+18.9%	+6.23%	+16.6%	+0.83%	+1.82%	+4.18%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	7.8M	10.9M	5.5M	48.7M	152.6M	35.8M	48.4M	71.1M	71.8M
Receivables	62.5M	84.9M	62.8M	78.3M	97M	151.7M	147.3M	205.6M	205.6M
Inventory	85.7M	61.6M	138.2M	150.5M	117.9M	199.8M	194.3M	286.1M	330.4M
Total current assets	165.8M	163.7M	219.5M	290.2M	388.1M	421.3M	424.2M	592.7M	665.5M
Property, plant & equipment	5.4M	6.7M	6M	4.8M	3.4M	2.6M	2.9M	4.7M	13.5M
Goodwill & intangibles	814.8M	769.2M	724.8M	680.4M	578M	538.4M	485.4M	415.4M	381.8M
Total assets	583.2M	560.4M	594.5M	653.5M	696.5M	707.2M	691.6M	837M	941M
Accounts payable	46.2M	56.9M	60.5M	54.7M	89M	91.4M	85M	119.1M	115.1M
Short-term debt	1.9M	1M	400K	63.8M	116.3M	—	—	—	—
Total current liabilities	76.6M	94.3M	92.7M	153.1M	251.3M	143.5M	150.2M	203.7M	282.8M
Long-term debt	—	—	—	622.6M	481.2M	929.5M	856.8M	833.1M	1.1B
Total liabilities	98.8M	108.7M	108.1M	814.5M	762M	1.1B	1B	1B	1.4B
Shareholders' equity	484.4M	451.7M	486.4M	-161M	-65.5M	-376.2M	-323.5M	-205.9M	-453.9M
Total debt	1.9M	1M	400K	686.4M	597.5M	929.5M	856.8M	833.1M	1.1B
Net debt	-5.9M	-9.9M	-5.1M	637.7M	444.9M	893.7M	808.4M	762M	1B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Cash & short-term investments	48.4M	85M	79.3M	72.6M	71.1M	49.6M	28.1M	43.7M	71.8M	64.1M	32.6M	50.4M
Receivables	147.3M	178.6M	229.4M	230.7M	205.6M	220.4M	266M	243.9M	205.6M	246M	272.1M	216.3M
Inventory	194.3M	187.6M	194.1M	237.8M	286.1M	348.9M	385.3M	415.6M	330.4M	435.2M	409.1M	480.6M
Total current assets	424.2M	464.8M	513.2M	554.2M	592.7M	649.5M	710.6M	739.4M	665.5M	786.3M	755.8M	779.5M
Property, plant & equipment	2.9M	-14.6M	-13.5M	-12.5M	4.7M	-12M	-12.7M	-13.6M	13.5M	-14.8M	-15.3M	-16.1M
Goodwill & intangibles	485.4M	441M	432.6M	424M	415.4M	407M	398.6M	390.2M	381.8M	373.2M	364.8M	356.2M
Total assets	691.6M	715.5M	765M	804.1M	837M	885.2M	947.5M	993.7M	941M	1.1B	1B	1.1B
Accounts payable	85M	91.3M	101.9M	113.9M	119.1M	110.9M	160.6M	126M	115.1M	178.6M	140.8M	167.7M
Short-term debt	—	—	—	—	—	—	—	—	—	—	—	—
Total current liabilities	150.2M	162.5M	173M	207.9M	203.7M	193.9M	243.4M	290.4M	282.8M	352M	300.5M	345.8M
Long-term debt	856.8M	832.1M	832.4M	832.7M	833.1M	833.4M	953.7M	1B	1.1B	1.2B	1.2B	1.1B
Total liabilities	1B	1B	1B	1B	1B	1B	1.2B	1.3B	1.4B	1.6B	1.5B	1.5B
Shareholders' equity	-323.5M	-286.9M	-247.7M	-243.2M	-205.9M	-146.6M	-254.1M	-309.9M	-453.9M	-510.7M	-497.8M	-467.2M
Total debt	856.8M	832.1M	832.4M	832.7M	833.1M	833.4M	953.7M	1B	1.1B	1.2B	1.2B	1.1B
Net debt	808.4M	747.1M	753.1M	760.1M	762M	783.8M	925.6M	965.3M	1B	1.1B	1.2B	1.1B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	19.9M	35.2M	96.1M	123.1M	100.1M	114.4M	116M	165.5M	246.5M	216.2M
Depreciation & amortization	25M	25.3M	25.9M	25.3M	25.3M	53.7M	21.3M	28.3M	36.5M	18.6M
Stock-based compensation	—	—	0	0	2.5M	4.6M	9.8M	14.2M	21M	22.1M
Change in working capital	-14.1M	-6.6M	18.6M	-58.6M	-28.4M	56M	-142.2M	13.2M	-95.9M	25.7M
Operating cash flow	41.7M	56.7M	136.6M	102.9M	102.1M	230.2M	2.3M	216.4M	201.3M	260.6M
Capital expenditure	-2.6M	2.1M	-5M	-3.2M	-2.1M	-1.6M	-1.8M	-1.8M	-1.8M	—
Investing cash flow	-2.6M	2.1M	-5M	-3.2M	-2.1M	-1.6M	-1.8M	-1.8M	-1.8M	—
Dividends paid	—	—	-133M	-100.2M	-32.1M	-24.6M	—	—	—	—
Share repurchases	—	—	—	—	0	0	-42.8M	-125.5M	-146.6M	-474.9M
Financing cash flow	-34.8M	-84M	-266M	-200.4M	-52.6M	-145.5M	-135M	-201.7M	-175.1M	-238.3M
Net change in cash	4.3M	-25.2M	-134.4M	-100.7M	47.4M	83.1M	-134.5M	12.9M	24.4M	22.3M
Free cash flow	36.4M	76.5M	136.2M	95.1M	95.1M	224.5M	19.2M	213.8M	197.8M	255.9M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26
Net income	46.1M	43.9M	57.2M	73.7M	71.7M	76.9M	58.7M	21M	59.6M	43.7M	33.9M	34.2M
Depreciation & amortization	12.5M	22.6M	4.6M	4.6M	4.7M	4.6M	4.6M	4.6M	4.8M	4.9M	4.9M	5.2M
Stock-based compensation	3.6M	4.6M	5.4M	5.5M	5.5M	6.1M	5.6M	5.2M	5.2M	5.4M	5.8M	6.4M
Change in working capital	26M	6.4M	-50.2M	-10.5M	-41.5M	-72.8M	-31M	48.5M	90.7M	-56.4M	-43M	28.7M
Operating cash flow	84.1M	74.4M	13.1M	71.8M	42.1M	18.6M	32.6M	40.3M	169.1M	-3.1M	-11.2M	79.3M
Capital expenditure	-800K	-200K	-300K	-100K	-1.2M	-1.3M	-600K	—	—	—	—	—
Investing cash flow	-800K	-200K	-300K	-100K	-1.2M	-1.3M	-600K	—	—	—	—	—
Dividends paid	—	—	—	—	—	—	—	—	—	—	—	—
Share repurchases	-7.9M	-9.4M	-21.4M	-75.3M	-40.5M	-11.8M	-173.1M	-83M	-207M	-96.9M	-30.3M	-10M
Financing cash flow	-61.9M	-37.8M	-21.4M	-75.4M	-40.5M	-23.2M	-53.1M	-28.1M	-133.9M	-5.3M	-30.2M	-60M
Net change in cash	21.4M	36.4M	-8.6M	-3.7M	400K	-5.9M	-21.1M	12.2M	35.2M	-8.4M	-41.4M	19.3M
Free cash flow	84.1M	74M	16M	68.9M	38.9M	1.7M	47.6M	38.5M	168.1M	-7.3M	-13M	77.2M

BellRing Brands Inc Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement