Primo Water Corporation (PRMW) 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 %
Q1 25	$0.25	$0.24	-4.0%	—	—	—
Q4 24	$0.25	$0.26	+4.0%	—	—	—
Q3 24	$0.14	$0.12	-14.3%	—	—	—
Q2 24	$0.17	$0.12	-29.4%	—	—	—
Q1 24	$0.27	$0.33	+22.2%	—	—	—
Q4 23	$0.19	$0.24	+26.3%	—	—	—
Q3 23	$0.09	$0.09	0.0%	—	—	—
Q2 23	$0.15	$0.16	+6.7%	—	—	—
Q1 23	$0.22	$0.22	0.0%	—	—	—
Q4 22	$0.17	$0.21	+23.5%	—	—	—
Q3 22	$0.07	$0.09	+28.6%	—	—	—
Q2 22	$0.2	$0.11	-45.0%	—	—	—
Q1 22	$0.23	$0.22	-4.3%	—	—	—
Q4 21	$0.11	$0.17	+54.5%	—	—	—
Q3 21	$0.02	$0.06	+200.0%	—	—	—
Q2 21	$0.1	$0.14	+40.0%	—	—	—

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 %
FY23	—	$1.49	—	—	$1.8B	—
FY22	—	$0.18	—	—	$1.7B	—
FY21	—	-$0.02	—	—	$1.6B	—
FY20	—	-$0.85	—	—	$2B	—
FY19

Total revenue

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

Period	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Revenue	$2.1B	$1.2B	$1.6B	$2.3B	$1.8B	$1.8B	$2B	$1.6B	$1.7B	$1.8B
YoY change	+0.42%	-43.5%	+36.7%	+39.8%	-21.1%	+0.25%	+8.81%	-19.3%	+7.41%	+4.64%

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	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Revenue	2.1B	1.2B	1.6B	2.3B	1.8B	1.8B	2B	1.6B	1.7B	1.8B
Cost of revenue	1.8B	536.8M	773.1M	1.1B	767.4M	734.2M	839.6M	685.4M	674M	634.8M
Gross profit	276.5M	650.5M	850.1M	1.1B	1B	1.1B	1.1B	891M	1B	1.1B
Gross margin	13.1%	54.8%	52.4%	49.7%	57.2%	59.1%	57%	56.5%	60.2%	64.2%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	213.7M	608.4M	806.2M	1B	955M	962.2M	1B	769.8M	883.8M	976M
Operating expenses	213.7M	608.4M	806.2M	1B	955M	962.2M	1B	769.8M	883.8M	976M
Operating income	62.8M	42.1M	43.9M	84.5M	68.6M	99M	107.3M	121.2M	135.4M	161M
Operating margin	2.99%	3.55%	2.7%	3.72%	3.83%	5.51%	5.49%	7.69%	8%	9.09%
Non-operating income, net	-68.1M	-11.4M	-40M	-32.6M	16.1M	-27.7M	-178.2M	-40.3M	10.6M	1.2M
Pretax income	-45M	600K	-39.1M	-33.6M	7.1M	-6.3M	-152.5M	12.6M	78.2M	90.8M
Income tax	-61.4M	-15.1M	21.2M	-30M	-8.3M	4.5M	4.3M	7.7M	19.5M	27M
Net income	16.4M	20.6M	-71.5M	7.1M	383.5M	2.9M	-131.7M	-3.2M	29.6M	238.1M
Net margin	0.78%	1.74%	-4.4%	0.31%	21.4%	0.16%	-6.74%	-0.2%	1.75%	13.4%
EBITDA	174.8M	170.9M	195.2M	273.4M	244.6M	270.5M	309.4M	286M	320.1M	358.8M
EPS	0.11	-0.03	-0.61	-0.01	2.75	0.02	-0.85	-0.02	0.18	1.49
Diluted EPS	0.1	-0.03	-0.61	-0.01	2.71	0.02	-0.85	-0.02	0.18	1.48

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 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24
Revenue	518M	526.1M	571.4M	584.6M	533M	412.5M	450.6M	470M	10M	452M	485M	511.4M
Cost of revenue	230.7M	226.5M	239.1M	236.4M	219.7M	153.5M	159.8M	166.7M	-43.9M	160.7M	167M	180.6M
Gross profit	287.3M	299.6M	332.3M	348.2M	313.3M	259M	290.8M	303.3M	53.9M	291.3M	318M	330.8M
Gross margin	55.5%	56.9%	58.2%	59.6%	58.8%	62.8%	64.5%	64.5%	539%	64.4%	65.6%	64.7%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	262.8M	278.3M	291.6M	297.3M	284.2M	234.6M	246.6M	244.8M	39.5M	249.4M	264.4M	262.3M
Operating expenses	262.8M	278.3M	291.6M	297.3M	284.2M	234.6M	246.6M	244.8M	39.5M	249.4M	264.4M	262.3M
Operating income	24.5M	21.3M	40.7M	50.9M	29.1M	24.4M	44.2M	58.5M	14.4M	41.9M	53.6M	68.5M
Operating margin	4.73%	4.05%	7.12%	8.71%	5.46%	5.92%	9.81%	12.4%	144%	9.27%	11.1%	13.4%
Non-operating income, net	-6.8M	-8.7M	-44.8M	-27.1M	57.7M	-2.7M	-3.4M	5.3M	2.1M	-4.7M	-17.1M	-10.6M
Pretax income	2.3M	-4.3M	-21.1M	6.4M	68.3M	3.5M	22M	46M	2.3M	28.2M	27.3M	52.1M
Income tax	5.1M	2.4M	1.4M	5.1M	10.8M	300K	8.4M	12.3M	-1M	9.5M	14M	13.9M
Net income	-2.8M	-6.7M	-22.5M	1.3M	57.5M	5.8M	21.3M	33.4M	177.6M	25M	16M	38.6M
Net margin	-0.54%	-1.27%	-3.94%	0.22%	10.8%	1.41%	4.73%	7.11%	1.8K%	5.53%	3.3%	7.55%
EBITDA	118.9M	79.8M	90.2M	89.3M	131M	71.8M	90.8M	111.8M	17.6M	93.7M	100.6M	127.5M
EPS	-0.02	-0.04	-0.14	0.01	0.36	0.04	0.13	0.21	1.11	0.16	0.1	0.24
Diluted EPS	-0.02	-0.04	-0.14	0.01	0.36	0.04	0.13	0.21	1.11	0.16	0.1	0.24

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	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Market cap	625.2M	1.1B	—	2.2B	1.9B	1.8B	—	2.7B	2.4B	2.3B	3.1B
Enterprise value	2.3B	2.7B	—	4.4B	3B	3.2B	—	4.4B	4B	3.3B	4B
Shares outstanding	93.8M	103M	128.3M	139.1M	139.1M	135.2M	155.4M	160.8M	160.8M	159.5M	159.5M

Valuation

Metric	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
P/E	38.1	53.2	—	316.1	4.9	618	—	—	81.8	9.76	47.5
P/S	0.3	0.92	—	0.99	1.05	1	—	1.74	1.43	1.31	1.75
P/B	0.9	1.7	—	2.53	1.6	1.54	—	2.08	1.89	1.61	2.11
EV/EBITDA	13.2	15.6	—	16.2	12.5	11.8	—	15.2	12.4	9.06	11.2
EV/Sales	1.1	2.25	—	1.96	1.7	1.77	—	2.77	2.34	1.84	2.28
Earnings yield	2.62%	1.88%	—	0.32%	20.4%	0.16%	—	—	1.22%	10.2%	2.11%
FCF yield	0.5%	16.6%	—	6.76%	1.01%	7.63%	—	4.94%	4.66%	8.71%	43%
PEG	—	—	—	—	—	—	—	—	—	—	3.32

Profitability

Metric	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Gross margin	13.1%	54.8%	52.4%	49.7%	57.2%	59.1%	57%	56.5%	60.2%	64.2%	64.7%
Operating margin	2.99%	3.55%	2.7%	3.72%	3.83%	5.51%	5.49%	7.69%	8%	9.09%	9.15%
Net margin	0.78%	1.74%	-4.4%	0.31%	21.4%	0.16%	-6.74%	-0.2%	1.75%	13.4%	64.2%
ROE	2.35%	3.19%	-8.18%	0.8%	32.8%	0.25%	-9.78%	-0.24%	2.31%	16.5%	16.5%
ROA	0.53%	0.71%	-1.81%	0.17%	12.1%	0.09%	-3.65%	-0.09%	0.81%	6.76%	6.76%
ROIC	2.63%	1.9%	1.47%	2.74%	2.93%	3.87%	3.72%	1.61%	3.59%	4.78%	5.29%
Return on tangible assets	14.9%	-20.6K%	-22%	1.86%	-64.9%	2.85%	14%	0.37%	13.2%	278.8%	204.6%

Financial health

Metric	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Current ratio	1.08	1.13	1.05	1	1.13	1.06	0.81	0.72	0.78	2.03	2.34
Quick ratio	0.68	0.69	0.9	0.86	0.9	0.95	0.65	0.58	0.68	1.92	2.23
Debt / equity	2.54	2.56	2.52	2.58	1.15	1.33	1.23	1.32	1.27	1	0.01
Debt / assets	0.58	0.57	0.56	0.56	0.42	0.46	0.46	0.47	0.44	0.41	0.4
Net debt / EBITDA	9.66	9.21	10.9	8.03	4.79	5.15	4.97	5.64	4.82	2.58	2.27
Interest coverage	-0.13	1.02	0.09	0.61	1.09	0.92	-0.87	1.18	2.15	2.27	3.28
Effective tax rate	0%	0%	0%	0%	0%	0%	0%	61.1%	24.9%	29.7%	33.1%

Per share

Metric	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Revenue per share	22.4	11.5	12.7	16.3	12.9	13.3	12.6	9.8	10.5	11.1	11.1
EPS (basic)	0.11	-0.03	-0.61	-0.01	2.75	0.02	-0.85	-0.02	0.18	1.49	1.49
EPS (diluted)	0.1	-0.03	-0.61	-0.01	2.71	0.02	-0.85	-0.02	0.18	1.48	1.48
Book value per share	7.44	6.27	6.81	6.37	8.41	8.62	8.66	8.21	7.98	9.04	9.25
FCF per share	0.03	1.77	1.33	1.09	0.14	1.01	0.34	0.84	0.7	1.27	1.44
Cash per share	0.92	0.75	0.61	0.66	1.23	1.16	0.74	0.8	0.49	3.19	4.12
Capex per share	0.48	0.38	0.7	0.82	0.8	0.73	0.72	0.71	0.68	0.68	0.78

Capital allocation

Metric	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	Current
Capex / revenue	2.14%	3.34%	5.51%	5%	6.25%	5.52%	5.74%	7.26%	6.44%	6.08%	8.65%
Capex / operating cash flow	59.9%	32.5%	67.5%	67.4%	55.8%	52.5%	262.8%	55.6%	40.6%	35.7%	47.2%
Payout ratio	139%	150.5%	-43.9%	470.4%	8.71%	1.1K%	-30.1%	-1.2K%	153.4%	21.7%	22.1%
Dividend yield	3.65%	2.83%	—	1.49%	1.78%	1.81%	—	1.42%	1.88%	2.22%	1.85%

Yield

1.85%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.09

ex-dividend Mar 7, 2024

Payout ratio

22%

of earnings

Dividend growth

0 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Mar 7, 2024	$0.09
Nov 20, 2023	$0.08
Aug 23, 2023	$0.08

Period	Q4 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24
Revenue	$518M	$526.1M	$571.4M	$584.6M	$533M	$412.5M	$450.6M	$470M	$10M	$452M	$485M	$511.4M
YoY change	+2.57%	+9.97%	+8.61%	+6.14%	+2.9%	-21.6%	-21.1%	-19.6%	-98.1%	+9.58%	+7.63%	+8.81%

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	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Cash & short-term investments	86.2M	77.1M	78.1M	91.9M	170.8M	156.9M	115.1M	128.4M	78.8M	507.9M
Receivables	293.3M	276.3M	248.9M	267.7M	283.4M	201.1M	205.8M	241.1M	156.6M	146.4M
Inventory	262.4M	249.4M	124.6M	127.6M	129.6M	62.9M	83.8M	94.6M	65.3M	47.3M
Total current assets	703.5M	638.6M	853.2M	933.9M	635.9M	642.3M	442.5M	509.8M	538M	865.9M
Property, plant & equipment	643.7M	562.4M	479.1M	495.3M	512.8M	654.9M	772.7M	800.6M	615.7M	613M
Goodwill & intangibles	3B	2.9B	3.6B	3.7B	3.8B	3.3B	4.5B	4.6B	3.4B	3.4B
Total assets	3.1B	2.9B	3.9B	4.1B	3.2B	3.4B	3.6B	3.7B	3.7B	3.5B
Accounts payable	231.7M	227.2M	185.9M	197.2M	206.1M	126.5M	135.2M	181.4M	108M	94.3M
Short-term debt	233M	125.4M	212.2M	225.4M	92M	135.8M	161.1M	272.1M	243.3M	39.8M
Total current liabilities	653M	563M	810.1M	933.4M	561M	607.6M	548.8M	709.8M	690.6M	426.1M
Long-term debt	1.5B	1.5B	2B	2.1B	1.3B	1.4B	1.5B	1.5B	1.4B	1.4B
Total liabilities	2.4B	2.2B	3.1B	3.2B	2B	2.2B	2.3B	2.4B	2.4B	2.1B
Shareholders' equity	697.7M	645.9M	873.8M	885.7M	1.2B	1.2B	1.3B	1.3B	1.3B	1.4B
Total debt	1.8B	1.7B	2.2B	2.3B	1.3B	1.6B	1.7B	1.7B	1.6B	1.4B
Net debt	1.7B	1.6B	2.1B	2.2B	1.2B	1.4B	1.5B	1.6B	1.5B	926.7M

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 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24
Cash & short-term investments	128.4M	98M	98.5M	95.5M	78.8M	96.5M	86.8M	97.8M	507.9M	498.3M	603.3M	667.3M
Receivables	241.1M	270.5M	283.6M	287.4M	156.6M	263.3M	293.2M	277.5M	146.4M	161.3M	164.1M	185.8M
Inventory	94.6M	105.2M	109.7M	113.5M	65.3M	104.3M	105.7M	105.8M	47.3M	46.3M	47.3M	48.6M
Total current assets	509.8M	505M	555.3M	543.8M	538M	516.2M	537.2M	526.1M	865.9M	858.1M	919.5M	998.3M
Property, plant & equipment	800.6M	883.6M	846.8M	872.4M	615.7M	917.4M	910.1M	885.3M	613M	685.7M	696.6M	687.2M
Goodwill & intangibles	4.6B	4.5B	4.4B	4.3B	3.4B	4.4B	4.4B	4.3B	3.4B	3.4B	3.5B	3.4B
Total assets	3.7B	3.7B	3.6B	3.6B	3.7B	3.6B	3.7B	3.6B	3.5B	3.5B	3.5B	3.6B
Accounts payable	181.4M	—	—	—	108M	—	—	—	94.3M	—	—	—
Short-term debt	272.1M	276.5M	284.8M	294.8M	243.3M	297.1M	283.7M	205M	39.8M	39.4M	40.6M	41.1M
Total current liabilities	709.8M	701.2M	715M	720.1M	690.6M	688.7M	690.7M	625.3M	426.1M	402M	421.1M	426.1M
Long-term debt	1.5B	1.5B	1.4B	1.4B	1.4B	1.5B	1.5B	1.4B	1.4B	1.4B	1.4B	1.4B
Total liabilities	2.4B	2.4B	2.4B	2.3B	2.4B	2.4B	2.4B	2.3B	2.1B	2.1B	2.1B	2.1B
Shareholders' equity	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.3B	1.4B	1.4B	1.5B	1.5B
Total debt	1.7B	1.7B	1.7B	1.7B	1.6B	1.8B	1.7B	1.6B	1.4B	1.4B	1.4B	1.4B
Net debt	1.6B	1.6B	1.6B	1.6B	1.5B	1.7B	1.7B	1.5B	926.7M	922.6M	821.6M	772M

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	FY14	FY15	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23
Net income	16.4M	15.7M	-60.3M	-3.6M	15.4M	-10.8M	-156.8M	4.9M	58.7M	63.8M
Depreciation & amortization	110.7M	128.3M	151.1M	188.6M	171.7M	168.6M	202.1M	160.2M	182M	193.3M
Stock-based compensation	5.8M	7.6M	7M	17.5M	19.1M	11.7M	22.1M	15.5M	16.4M	14.1M
Change in working capital	6.6M	7M	10.5M	1.5M	6.1M	19.2M	-27.2M	17.3M	-15.1M	21.7M
Operating cash flow	74.9M	121.9M	132.5M	168.5M	200.4M	188.7M	42.7M	205.8M	268.6M	301.9M
Capital expenditure	-44.9M	-39.6M	-89.4M	-113.5M	-111.9M	-99.1M	-112.2M	-114.4M	-109.1M	-107.8M
Investing cash flow	-843.4M	-64.8M	-1B	-148M	-254.7M	-102.8M	-557.6M	-145.9M	-120.4M	-138.8M
Dividends paid	-22.8M	-31M	-31.4M	-33.4M	-33.4M	-32.5M	-39.6M	-38.9M	-45.4M	-51.7M
Share repurchases	-12.1M	-149.6M	-5.7M	-3.8M	-74.9M	-31.8M	-33.2M	-48.1M	-27.7M	-26M
Financing cash flow	835.7M	-49.1M	807.1M	596.5M	-314M	-129.6M	-425.7M	-32.2M	-142.4M	-603.4M
Net change in cash	67.2M	8M	-108.8M	617M	-368.3M	-43.7M	-940.6M	27.7M	5.8M	-440.3M
Free cash flow	3.1M	182M	170.5M	151.8M	19M	136.7M	52.9M	135.7M	112.8M	202.6M

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 21	Q1 22	Q2 22	Q3 22	Q4 22	Q1 23	Q2 23	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24
Net income	-2.8M	-6.7M	-22.5M	1.3M	57.5M	3.2M	13.6M	33.7M	3.3M	18.7M	13.3M	38.2M
Depreciation & amortization	60.7M	61.2M	60.2M	59.6M	61.8M	47.1M	47.2M	49.3M	2.9M	48.2M	49.7M	51M
Stock-based compensation	7.5M	3.3M	4.2M	3.2M	6.5M	2M	2.7M	1.4M	7.4M	3M	9.5M	4.6M
Change in working capital	17.9M	-33.9M	-17.1M	-4.7M	20.5M	-20.8M	-20.4M	14.1M	47.7M	-5.3M	4.6M	-31.5M
Operating cash flow	90.8M	28.5M	36.5M	85.8M	139.2M	31.4M	48.2M	97.5M	63.5M	62.7M	75.1M	66M
Capital expenditure	-52.2M	-38.2M	-46M	-69.4M	100K	-42.1M	-26.9M	-25.4M	18.6M	-36.5M	-37.2M	-33.8M
Investing cash flow	-118.9M	-38M	-53.2M	-76.8M	-4.6M	-48.7M	-41.4M	-26.1M	7.6M	-37.9M	-57.3M	-34.1M
Dividends paid	-9.7M	-11.3M	-11.6M	-11.3M	-11.2M	-12.8M	-13.1M	-12.7M	-13.1M	-14.8M	-14.4M	-14.6M
Share repurchases	-2.5M	-1.8M	-200K	-11M	-14.7M	-19.3M	-2.5M	-600K	-3.6M	-11.1M	-9.1M	-100K
Financing cash flow	38.5M	-12.6M	-5.9M	-14.8M	-120.5M	-39.7M	-97.3M	-181.9M	-293.6M	-23.2M	-17.9M	-18.4M
Net change in cash	10.4M	-22.1M	-22.6M	-5.8M	14.1M	-57M	-90.5M	-110.5M	-222.5M	1.6M	-100K	13.5M
Free cash flow	31.2M	-17.5M	17.7M	18.7M	46.1M	-9.9M	47.8M	111.3M	88.1M	24.3M	62.4M	59.2M

Date	Ratio
Jul 26, 1993	2:1
Jul 23, 1992	2:1

Primo Water Corporation 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

Dividend per share

Recent payouts

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

Split history