Freshpet (FRPT) FY2019 results: revenue $246 million, up 27.2% on the year
Freshpet, Inc. (FRPT) reported revenue of $246 million for fiscal 2019, the year ended 31 December 2019, up 27.2% on the year before. Net income was -$1 million, and diluted earnings per share $-0.04. The figures are the company's own, from the 10-K it filed with the SEC on 25 February 2020.
Revenue
$246 million
+27.2% on the year
FY2012FY2019
Operating margin
-0.1%
-2.5% a year earlier
FY2012FY2019
Net income
-$1 million
FY2012FY2019
Diluted EPS
-$0.04
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
246
193
152
+27.2%
Cost of revenue
132
103
79.9
+27.5%
Gross profit
114
90.0
72.4
+26.9%
Gross margin
46.4%
46.6%
47.5%
Research and development
1.2
0.5
0.3
+140.0%
Selling, general and administrative
114
94.9
75.2
+20.6%
Operating income
-0.3
-4.9
-2.8
Operating margin
-0.1%
-2.5%
-1.8%
Interest expense
1.0
0.3
0.9
+234.4%
Pre-tax income
-1.2
-5.3
-4.2
Income tax
0.1
0.1
0.1
+87.0%
Net income
-1.4
-5.4
-4.3
Net margin
-0.6%
-2.8%
-2.8%
Diluted EPS
-$0.04
-$0.15
-$0.12
$ million except per share. 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.
Cash flow
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
16.3
18.6
10.3
-12.2%
Capital expenditure
70.6
16.3
13.0
+334.0%
Free cash flow
-54.3
2.3
-2.7
Free cash flow margin
-22.1%
1.2%
-1.8%
Cash from investing
-70.6
-16.3
-13.0
Cash from financing
56.2
3.1
1.0
+1,732.3%
Depreciation and amortisation
15.6
13.8
12.7
+13.0%
Share-based compensation
7.8
6.8
4.4
+15.1%
Buybacks
n/a
0.3
n/a
Diluted shares, weighted
36m
35m
34m
+1.8%
Shares outstanding at period end
36m
36m
35m
+1.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
131
121
117
+8.1%
Short-term borrowings
54.5
n/a
n/a
Debt
54.5
0.0
0.0
Operating lease liabilities
8.4
n/a
n/a
Other liabilities
n/a
18.5
17.0
Total liabilities and equity
236
140
134
+68.7%
Fixed assets
165
102
101
+61.9%
Investments
0.0
n/a
n/a
Cash and equivalents
9.5
7.6
2.2
+25.4%
Receivables
18.6
12.3
12.7
+50.7%
Inventory
12.5
9.3
10.1
+34.6%
Other assets
30.2
8.7
8.3
+248.7%
Total assets
236
140
134
+68.7%
10-K for the year ended 31 December 2019, filed 25 February 2020: the filing.