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Stock research / United States / FRPT · Grain Mill Products · Nasdaq

Freshpet, Inc. (FRPT)

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Freshpet, Inc. (FRPT) reported revenue of $306 million for Q2 FY2026, the quarter ended 30 June 2026, up 15.5% on the same quarter a year earlier. Net income was $19 million, up 19.1% on the year, and diluted earnings per share $0.39. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue$306 millionup 15.5%
Net income$19 millionup 19.1%
Diluted EPS$0.39
QuarterQ2 FY2026ended 30 June 2026

Freshpet (FRPT) in brief

Freshpet (FRPT) reported revenue of $1.1 billion for fiscal 2025, the year ended 31 December 2025, up 13.0% on the year before.
Read moreNet income was $139 million and diluted earnings per share $2.64. Revenue was $975 million in fiscal 2024, $767 million in fiscal 2023, $595 million in fiscal 2022 and $425 million in fiscal 2021. Net income in the same years was $47 million, a loss of $34 million, a loss of $59 million and a loss of $30 million. Over the twelve months to 30 June 2026, Freshpet reported revenue of $1.2 billion and net income of $203 million. Revenue grew 28.2% a year, compounded, over the five years to fiscal 2025. Freshpet had 49 million shares outstanding at the latest filed count. At 30 June 2026 it carried $398 million of debt and $351 million of cash. At the close of 9 October 2026 the market cap of Freshpet was $3.1 billion, 16.8 times its earnings over the last twelve months.

Ratios

From the filings

ROE16.4%
ROCE5.8%
Operating margin8.1%
Net margin17.3%
FCF margin5.2%
Interest cover6.82
Debt to equity0.32
Cash conversion1.02
Share count, 1 year-0.3%
Sales CAGR, 3 years22.8%
Profit CAGR, 3 yearsn/a
EPS, TTM$3.80

At the close of 9 October 2026

Price$64.02
Market cap$3.1 billion
Stock P/E16.85
Price to book2.52
EV / EBITDA16.73
Dividend yieldn/a
Market cap / sales2.64
52-week high$85.50
52-week low$47.39
Price, 1 year28.0%
Price CAGR, 3 years2.8%
Price CAGR, 5 years-13.7%
Worked from the filed figures; hover a name for the formula.
Read moreThe priced ones use the latest price, the last regular-hours trade on IEX. Debt to equity here stands on the borrowings Freshpet, Inc. reports under its own heading, which is the only one it files; lease liabilities are separate lines. Nothing here is a valuation or a view.
FRPTgreeksoup.ai
Daily prices to 9 October 2026, adjusted for splits; from 28 September 2026 each day's price is the last regular-hours trade on IEX.
Read moreData provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use. Day by day for the last three years; before that one point a week, carrying the week's last close and its average daily volume, so a volume bar means the same thing across the whole series; the bars sit under the price on their own scale, on the right. The moving averages need consecutive days and are drawn from the daily part. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Before the quarters on file begin, P/E, price to book and market cap to sales stand on each annual report from the day it was filed. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on FRPT

Filings15 in twelve months: 8 current reports (8-K), about 5 regulation FD disclosure; 4 results of operations; 3 officer or director change; 1 shareholder vote
Planned insider sales38 Form 144 notices in twelve months, $37.1 million; latest 26 August 2026
Options tapeput/call 0.68 by open interest at the 9 October 2026 close; the straddle prices a 8.0% move to 16 October 2026
13F holders8 of the followed funds hold it; largest Citadel Advisors; 10 Schedule 13D or 13G filings in twelve months
Insider trading65 sales and 10 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest8.1 million shares short, 7.85 days to cover at 30 September 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue201215224235253263263265289285298306
Cost of revenue134141136141151151159156175162177177
Gross profit66.374.688.294.0102112104108114123121129
Gross margin33%35%39%40%40%42%39%41%40%43%41%42%
SG&A73.459.779.795.790.392.211590.489.379.0116107
Operating income-7.114.98.5-1.811.919.4-11.517.824.944.54.321.7
Operating margin-4%7%4%-1%5%7%-4%7%9%16%1%7%
Interest expense4.13.43.12.82.93.53.53.73.63.43.63.5
Pre-tax income-7.115.318.7-1.611.918.6-12.616.323.743.465.625.6
Tax raten/a0%0%n/a0%2%n/a-1%-329%22%26%24%
Net income-7.215.318.6-1.711.918.1-12.716.410233.848.519.5
Net margin-4%7%8%-1%5%7%-5%6%35%12%16%6%
Diluted EPS-$0.15$0.31$0.37-$0.03$0.24$0.36-$0.26$0.33$1.86$0.64$0.91$0.39
Operating cash flow39.237.05.442.456.150.44.833.966.855.140.344.4
Capital expenditure59.177.546.548.334.058.326.533.435.253.027.629.7
Free cash flow-19.9-40.5-41.1-5.922.1-7.9-21.70.431.62.112.714.7
Shares outstanding48m48m48m48m49m49m49m49m49m49m49m49m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Income statement (profit and loss), 12 fiscal years and the trailing twelve months

FY2014 †FY2015FY2016FY2017FY2018 †FY2019 †FY2020FY2021FY2022 †FY2023 †FY2024FY2025TTM
Revenue86.81161301521932463194255957679751,1021,177
Cost of revenue44.561.569.379.9103132186263409516579652690
Gross profit42.254.660.472.490.0114133162186251396450487
Gross margin48.7%47.0%46.5%47.5%46.6%46.4%41.7%38.1%31.2%32.7%40.6%40.8%41.4%
Research and developmentn/an/a0.50.30.51.20.8n/an/an/an/an/an/a
Selling, general and administrative48.358.362.675.294.9114135187238281358374392
Operating income-6.1-3.6-2.2-2.8-4.9-0.3-2.0-24.7-52.0-30.438.075.795.4
Operating margin-7.0%-3.1%-1.7%-1.8%-2.5%-0.1%-0.6%-5.8%-8.7%-4.0%3.9%6.9%8.1%
Interest expense4.60.50.70.90.31.01.22.95.214.112.314.114.0
Pre-tax income-37.3-3.7-3.1-4.2-5.3-1.2-3.1-27.5-55.5-31.547.570.8158
Income tax0.00.10.10.10.10.10.10.20.30.20.6-68.4-45.2
Effective tax raten/an/an/an/an/an/an/an/an/an/a1.3%-96.6%-28.5%
Net income-37.3-3.7-3.2-4.3-5.4-1.4-3.2-29.7-59.5-33.646.9139203
Net margin-43.0%-3.2%-2.4%-2.8%-2.8%-0.6%-1.0%-7.0%-10.0%-4.4%4.8%12.6%17.3%
Diluted EPS-$9.63-$0.11-$0.09-$0.12-$0.15-$0.04-$0.08-$0.69-$1.29-$0.70$0.93$2.64$3.80
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
From each year's 10-K, linked; TTM is the last four quarters.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 †FY2015FY2016FY2017FY2018 †FY2019 †FY2020FY2021FY2022 †FY2023 †FY2024FY2025TTM
Operating cash flow-8.06.712.810.318.616.321.20.6-43.275.9154161207
Capital expenditure17.127.030.013.016.370.6135322230239187148146
Free cash flow-25.2-20.3-17.2-2.72.3-54.3-113-321-273-163-32.812.461.0
Free cash flow margin-29.0%-17.5%-13.2%-1.8%1.2%-22.1%-35.6%-75.5%-45.9%-21.3%-3.4%1.1%5.2%
Cash from investingn/an/a-26.7-13.0-16.3-70.6-162-322-233-239-187-148-45.6
Cash from financingn/an/a9.81.03.156.21993273373274.6-3.0-53.9
Depreciation and amortisation6.47.69.912.713.815.620.829.534.358.269.586.493.5
Share-based compensation1.63.94.24.46.87.810.925.026.124.951.813.914.4
Buybacksn/an/an/an/a0.3n/an/an/an/an/an/an/an/a
Diluted shares, weighted14m33m34m34m35m36m40m43m46m48m50m56m56m
Shares outstanding at period end33m34m34m35m36m36m41m43m48m48m49m49m49m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
Cash paid in the year, from the cash flow statement.
Read moreThe dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 †FY2015FY2016FY2017FY2018 †FY2019 †FY2020FY2021FY2022 †FY2023 †FY2024FY2025TTM
Funded by
Shareholders' equity1031041081171211313947201,0329531,0551,2091,238
Short-term borrowingsn/a0.07.00.00.054.5n/an/an/an/an/an/an/a
Debt0.00.0n/an/an/a54.50.00.00.0393395397398
Operating lease liabilitiesn/an/an/an/an/a8.47.15.74.22.62.265.064.0
Finance lease liabilitiesn/an/an/an/an/an/an/an/a0.026.123.328.126.6
Other liabilities9.19.111.717.018.5n/a33.158.989.689.298.978.785.6
Total liabilities and equity1121131261341402364347841,1251,4641,5751,7781,812
Owned
Fixed assets57.882.8101101102165281584801979n/an/an/a
Investmentsn/a3.2n/an/an/a0.0n/a0.020.00.00.0n/an/a
Cash and equivalents36.38.03.92.27.69.567.272.8133297269278351
Receivables5.47.08.912.712.318.618.434.857.656.868.463.865.4
Inventory7.36.95.410.19.312.519.135.658.363.280.876.886.7
Other assets5.75.16.88.38.730.248.557.356.268.41,1571,3591,309
Total assets1121131261341402364347841,1251,4641,5751,7781,812
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K
At the fiscal year end; the TTM column is the latest quarter end.
Read moreBoth totals are the company's own. Other liabilities is the filed total less the rows above it: payables, deferred revenue, taxes, borrowings the rows above do not carry and the rest; other assets is the same on the other side. Investments add the current and non-current lines as filed. Debt is the company's own stated total where it files one, otherwise its long-term debt with the current maturities, never parts added together. A row is left blank in a year where the lines shown overlap and the remainder would fall below nil.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded25.2%28.2%22.8%12.8%
Profit growth, compoundedn/an/an/a504.2%
Return on equity, average-1.0%0.5%4.1%11.5%
Yearly growth, compounded; TTM is the last four quarters against the four before.
Read moreReturn on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Questions

What was Freshpet's revenue in fiscal 2025?

Freshpet (FRPT) reported revenue of $1.1 billion for fiscal 2025, the year ended 31 December 2025, up 13.0% on the year before.

How much did Freshpet earn in fiscal 2025?

Net income was $139 million for fiscal 2025, and diluted earnings per share $2.64.

What is Freshpet's P/E ratio?

At the close of 9 October 2026, Freshpet traded at 16.8 times its earnings over the twelve months to 30 June 2026.

What is Freshpet's market cap?

The market cap of Freshpet was $3.1 billion at the close of 9 October 2026.

How much debt does Freshpet have?

At 30 June 2026 Freshpet carried $398 million of debt and $351 million of cash.

Peers: Food Products

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
General Mills Inc. GIS$17.3 billionn/a-12.0%-1.1%-4.5%1.667.6%
Pilgrims Pride Corp. PPC$6.8 billion12.4514.6%5.0%1.4%0.76n/a
Lamb Weston Holdings, Inc. LW$6.6 billion26.1714.1%7.8%2.6%1.983.1%
Conagra Brands Inc. CAG$6.4 billionn/a-29.8%-15.2%-1.8%1.2110.4%
Ingredion Inc. INGR$6.0 billion10.3713.1%11.9%-1.4%0.393.4%
Campbell'S Co. CPB$5.7 billion14.6710.5%8.7%-5.0%1.858.1%
Post Holdings, Inc. POST$3.3 billion13.759.5%9.6%6.2%2.484.0%
Freshpet, Inc. FRPT$3.1 billion16.8516.4%8.1%12.8%0.32n/a
Tootsie Roll Industries Inc. TR$2.8 billion28.7110.0%11.9%1.6%0.01n/a
Marzetti Co. MZTI$2.7 billion14.2618.2%12.4%1.1%0.194.0%
J&J Snack Foods Corp. JJSF$1.5 billion18.939.2%7.0%-1.0%0.031.0%
Flowers Foods Inc. FLO$1.2 billion22.334.2%2.7%2.5%1.2716.9%
All 24 in Food Products
CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Mondelez International, Inc. MDLZ$77.6 billion22.2113.2%11.2%6.9%0.623.2%
Archer-Daniels-Midland Co. ADM$38.5 billion21.887.5%n/a-0.8%0.272.6%
Hershey Co. HSY$33.0 billion22.2332.6%17.8%7.7%1.14n/a
Kraft Heinz Co. KHC$26.4 billionn/a-9.4%-12.8%-1.6%0.497.2%
Bunge Global SA BG$19.9 billion19.956.3%n/a80.5%0.956.9%
Tyson Foods, Inc. TSN$19.0 billion32.983.2%2.3%2.9%0.36n/a
General Mills Inc. GIS$17.3 billionn/a-12.0%-1.1%-4.5%1.667.6%
J.M. Smucker Co. SJM$12.8 billion55.994.0%9.0%5.1%1.143.7%
McCormick & Co. Inc. MKC$12.1 billion8.1021.3%13.4%13.2%0.534.1%
Hormel Foods Corp. HRL$10.6 billion30.484.4%4.7%0.7%0.306.0%
Darling Ingredients Inc. DAR$9.5 billion16.2411.4%14.5%14.9%0.73n/a
Pilgrims Pride Corp. PPC$6.8 billion12.4514.6%5.0%1.4%0.76n/a
Lamb Weston Holdings, Inc. LW$6.6 billion26.1714.1%7.8%2.6%1.983.1%
Conagra Brands Inc. CAG$6.4 billionn/a-29.8%-15.2%-1.8%1.2110.4%
Ingredion Inc. INGR$6.0 billion10.3713.1%11.9%-1.4%0.393.4%
Campbell'S Co. CPB$5.7 billion14.6710.5%8.7%-5.0%1.858.1%
Post Holdings, Inc. POST$3.3 billion13.759.5%9.6%6.2%2.484.0%
Freshpet, Inc. FRPT$3.1 billion16.8516.4%8.1%12.8%0.32n/a
Tootsie Roll Industries Inc. TR$2.8 billion28.7110.0%11.9%1.6%0.01n/a
Marzetti Co. MZTI$2.7 billion14.2618.2%12.4%1.1%0.194.0%
J&J Snack Foods Corp. JJSF$1.5 billion18.939.2%7.0%-1.0%0.031.0%
Flowers Foods Inc. FLO$1.2 billion22.334.2%2.7%2.5%1.2716.9%
Simply Good Foods Co. SMPL$901 millionn/a-14.0%-17.1%-4.5%0.28n/a
Sanfilippo John B & SON Inc. JBSS$792 million12.7316.3%7.6%6.2%0.136.0%
3 companies share its SEC industry code (Grain Mill Products); the rest are the names nearest in size in its wider industry, Food Products, one of the Fama-French 48 industries, a published grouping of SEC industry codes.
Read moreBy market capitalisation; a click on a heading sorts by it, largest first, and a second click turns it round. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close; a name marked * is a foreign company that files once a year, on its latest fiscal year.

Filings

FilingPeriodFiledWhere
10-Q30 June 20265 August 2026EDGAR
10-Q31 March 20266 May 2026EDGAR
10-K31 December 202523 February 2026EDGAR
10-Q30 September 20253 November 2025EDGAR
10-Q30 June 20254 August 2025EDGAR
10-Q31 March 20255 May 2025EDGAR
10-K31 December 202420 February 2025EDGAR
10-Q30 September 20244 November 2024EDGAR
10-Q30 June 20245 August 2024EDGAR
10-Q31 March 20246 May 2024EDGAR

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