NASDAQ : FRPT
Freshpet, Inc. — Financial statements
Consumer Staples · Packaged Foods · United States
Last price 67.5 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 3.24B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Freshpet, Inc. (FRPT) reported revenue of 1.18B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 1.18B | 1.10B | 975.18M | 766.89M | 595.34M | 425.49M |
| Cost of Revenue | 690.29M | 652.39M | 579.22M | 516.02M | 409.31M | 261.59M |
| Gross Profit | 487.02M | 449.63M | 395.96M | 250.87M | 186.03M | 163.90M |
| Selling, General & Admin | 363.82M | 330.24M | 335.62M | 264.65M | 223.10M | 171.88M |
| Operating Expenses | 390.53M | 355.69M | 357.37M | 280.50M | 236.89M | 185.80M |
| Operating Income | 96.48M | 93.94M | 38.59M | -29.63M | -50.85M | -21.91M |
| Interest Expense | -13.98M | -14.12M | -12.26M | -14.10M | -5.21M | -2.88M |
| Interest & Investment Income | 10.34M | 9.22M | 11.87M | 13.03M | 1.71M | 13.00K |
| Earnings From Equity Investments | -1.89M | -3.73M | -2.00M | |||
| Other Non Operating Income (Expenses) | -113.00K | |||||
| EBT Excluding Unusual Items | 92.84M | 89.04M | 38.19M | -32.70M | -58.08M | -26.78M |
| Merger & Restructuring Charges | -1.27M | 67.00K | -734.00K | |||
| Gain (Loss) on Sale of Investments | 66.55M | 9.92M | ||||
| Gain (Loss) on Sale of Assets | -361.00K | -610.00K | -588.00K | -774.00K | -396.00K | -1.00M |
| Legal Settlements | -716.00K | -5.70M | ||||
| Other Unusual Items | -10.68M | -1.76M | ||||
| Pretax Income | 158.32M | 70.77M | 47.52M | -33.40M | -59.21M | -29.54M |
| Income Tax Expense | -45.16M | -68.36M | 598.00K | 210.00K | 282.00K | 162.00K |
| Net Income | 203.47M | 139.14M | 46.92M | -33.61M | -59.49M | -29.70M |
| Net Income to Common | 203.47M | 139.14M | 46.92M | -33.61M | -59.49M | -29.70M |
| Shares Outstanding (Basic) | 48.99M | 48.80M | 48.49M | 48.16M | 46.19M | 42.93M |
| Shares Outstanding (Diluted) | 58.87M | 56.04M | 50.26M | 48.16M | 46.19M | 42.93M |
| EPS (Basic) | 4.15 | 2.85 | 0.97 | -0.70 | -1.29 | -0.69 |
| EPS (Diluted) | 3.68 | 2.64 | 0.93 | -0.70 | -1.29 | -0.69 |
| Free Cash Flow | 61.05M | 12.38M | -32.80M | -163.15M | -273.30M | -321.45M |
| Free Cash Flow Per Share | 1.04 | 0.22 | -0.65 | -3.39 | -5.92 | -7.49 |
| Gross Margin | 41.37% | 40.80% | 40.60% | 32.71% | 31.25% | 38.52% |
| Operating Margin | 8.20% | 8.52% | 3.96% | -3.86% | -8.54% | -5.15% |
| Profit Margin | 17.28% | 12.63% | 4.81% | -4.38% | -9.99% | -6.98% |
| Free Cash Flow Margin | 5.18% | 1.12% | -3.36% | -21.27% | -45.91% | -75.55% |
| EBITDA | 193.72M | 183.66M | 112.20M | 28.89M | -16.30M | 8.56M |
| EBITDA Margin | 16.46% | 16.67% | 11.51% | 3.77% | -2.74% | 2.01% |
| D&A For EBITDA | 97.24M | 89.72M | 73.61M | 58.52M | 34.55M | 30.47M |
| EBIT | 96.48M | 93.94M | 38.59M | -29.63M | -50.85M | -21.91M |
| EBIT Margin | 8.20% | 8.52% | 3.96% | -3.86% | -8.54% | -5.15% |
| Effective Tax Rate | 1.26% | |||||
| Advertising Expenses | 157.84M | 127.68M | 97.88M | 71.72M | 53.69M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 350.81M | 277.98M | 268.63M | 296.87M | 132.74M | 72.79M |
| Cash & Short-Term Investments | 350.81M | 277.98M | 268.63M | 296.87M | 132.74M | 72.79M |
| Receivables | 65.38M | 63.76M | 68.42M | 56.75M | 57.57M | 34.78M |
| Inventory | 86.73M | 76.77M | 80.79M | 63.24M | 58.29M | 35.57M |
| Prepaid Expenses | 7.74M | 9.81M | 16.03M | 7.62M | 9.78M | 5.83M |
| Other Current Assets | 6.40M | 7.40M | 3.13M | 2.84M | 3.59M | 1.35M |
| Total Current Assets | 517.07M | 435.71M | 437.00M | 427.32M | 261.96M | 150.32M |
| Property, Plant & Equipment | 1.21B | 1.21B | 1.07B | 982.78M | 805.75M | 590.46M |
| Long-Term Investments | 33.45M | 33.45M | 23.53M | 25.42M | 25.86M | |
| Long-Term Deferred Tax Assets | 47.41M | 68.89M | ||||
| Long-Term Deferred Charges | 2.48M | |||||
| Other Long-Term Assets | 36.83M | 34.63M | 35.20M | 30.79M | 32.25M | 15.29M |
| Total Assets | 1.81B | 1.78B | 1.57B | 1.46B | 1.13B | 784.41M |
| Accounts Payable | 36.82M | 42.43M | 39.16M | 36.10M | 55.09M | 42.61M |
| Accrued Expenses | 43.76M | 31.14M | 56.07M | 48.59M | 28.12M | 14.12M |
| Current Portion of Leases | 4.59M | 4.56M | 3.44M | 3.31M | 1.51M | 1.38M |
| Other Current Liabilities | 358.00K | 466.00K | 190.00K | 1.23M | 4.89M | 828.00K |
| Total Current Liabilities | 85.52M | 78.59M | 98.87M | 89.22M | 89.61M | 58.95M |
| Long-Term Debt | 398.44M | 397.33M | 395.16M | 393.07M | ||
| Long-Term Leases | 90.63M | 93.10M | 25.49M | 28.67M | 4.20M | 5.71M |
| Long-Term Deferred Tax Liabilities | 129.00K | 93.00K | ||||
| Total Liabilities | 574.72M | 569.12M | 519.52M | 510.97M | 93.81M | 64.66M |
| Common Stock | 49.00K | 49.00K | 49.00K | 48.00K | 48.00K | 43.00K |
| Additional Paid-In Capital | 1.37B | 1.35B | 1.34B | 1.28B | 1.33B | 955.71M |
| Retained Earnings | -74.67M | -142.67M | -281.81M | -328.73M | -295.12M | -235.62M |
| Treasury Stock | -54.82M | -256.00K | -256.00K | -256.00K | -256.00K | -256.00K |
| Comprehensive Income & Other | -706.00K | 334.00K | -787.00K | -591.00K | 1.37M | -120.00K |
| Shareholders' Equity | 1.24B | 1.21B | 1.06B | 953.45M | 1.03B | 719.75M |
| Total Liabilities & Equity | 1.81B | 1.78B | 1.57B | 1.46B | 1.13B | 784.41M |
| Total Debt | 493.66M | 494.98M | 424.09M | 425.06M | 5.71M | 7.09M |
| Net Cash (Debt) | -142.85M | -217.01M | -155.46M | -128.18M | 127.03M | 65.69M |
| Net Cash Per Share | -2.43 | -3.87 | -3.09 | -2.66 | 2.75 | 1.53 |
| Filing Date Shares Outstanding | 48.06M | 49.06M | 48.72M | 48.29M | 48.05M | 43.45M |
| Total Common Shares Outstanding | 48.62M | 48.97M | 48.70M | 48.26M | 48.04M | 43.44M |
| Working Capital | 431.55M | 357.12M | 338.13M | 338.10M | 172.35M | 91.38M |
| Book Value Per Share | 25.45 | 24.68 | 21.67 | 19.76 | 21.47 | 16.57 |
| Tangible Book Value | 1.24B | 1.21B | 1.06B | 953.45M | 1.03B | 719.75M |
| Tangible Book Value Per Share | 25.45 | 24.68 | 21.67 | 19.76 | 21.47 | 16.57 |
| Buildings | 770.26M | 730.30M | 712.21M | 535.00M | 458.80M | 150.93M |
| Machinery | 608.41M | 575.06M | 485.91M | 425.20M | 351.42M | 271.38M |
| Construction In Progress | 101.03M | 130.44M | 104.53M | 187.95M | 134.34M | 273.88M |
| Leasehold Improvements | 5.18M | 5.16M | 12.00K | 1.32M | 1.32M | 1.32M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 203.47M | 139.14M | 46.92M | -33.61M | -59.49M | -29.70M |
| Depreciation & Amortization | 97.24M | 89.72M | 73.61M | 58.52M | 34.55M | 30.47M |
| Other Amortization | 2.21M | 2.17M | 2.09M | 4.06M | 795.00K | 1.21M |
| Loss (Gain) From Sale of Assets | 1.14M | 2.21M | 1.28M | 4.32M | 396.00K | 538.00K |
| Loss (Gain) From Sale of Investments | -66.55M | -9.92M | ||||
| Loss (Gain) on Equity Investments | 1.89M | 3.73M | 2.00M | |||
| Stock-Based Compensation | 14.36M | 13.88M | 51.81M | 24.93M | 26.09M | 25.00M |
| Provision & Write-off of Bad Debts | 692.00K | 12.13M | 467.00K | -2.00K | -20.00K | 29.00K |
| Other Operating Activities | -44.01M | -66.45M | 1.70M | 1.55M | 4.83M | 1.68M |
| Change in Accounts Receivable | -5.14M | -6.88M | -12.23M | 820.00K | -32.99M | -16.37M |
| Change in Inventory | 3.23M | 3.82M | -15.48M | -1.21M | -26.17M | -16.80M |
| Change in Accounts Payable | -6.53M | 1.31M | 12.48M | 3.54M | -3.06M | 14.96M |
| Change in Other Net Operating Assets | 6.52M | -30.49M | 1.55M | 11.13M | 8.12M | -12.37M |
| Operating Cash Flow | 206.62M | 160.56M | 154.29M | 75.94M | -43.23M | 647.00K |
| Capital Expenditures | -145.58M | -148.18M | -187.09M | -239.09M | -230.07M | -322.10M |
| Investment in Securities | 100.00M | -3.29M | ||||
| Investing Cash Flow | -45.58M | -148.18M | -187.09M | -239.09M | -233.36M | -322.10M |
| Short-Term Debt Issued | 78.00M | |||||
| Long-Term Debt Issued | 393.52M | |||||
| Total Debt Issued | 393.52M | 78.00M | ||||
| Short-Term Debt Repaid | -78.00M | |||||
| Long-Term Debt Repaid | -2.12M | -1.98M | -1.11M | |||
| Total Debt Repaid | -2.64M | -2.12M | -1.98M | -1.11M | -78.00M | |
| Net Debt Issued (Repaid) | -2.64M | -2.12M | -1.98M | 392.41M | ||
| Issuance of Common Stock | 7.90M | 2.11M | 9.14M | 4.52M | 337.98M | 334.44M |
| Repurchase of Common Stock | -59.18M | -3.02M | -2.60M | -1.40M | -1.44M | -4.19M |
| Other Financing Activities | -68.24M | -3.26M | ||||
| Financing Cash Flow | -53.92M | -3.04M | 4.57M | 327.29M | 336.54M | 326.99M |
| Net Cash Flow | 107.12M | 9.34M | -28.24M | 164.14M | 59.95M | 5.54M |
| Free Cash Flow | 61.05M | 12.38M | -32.80M | -163.15M | -273.30M | -321.45M |
| Free Cash Flow Margin | 5.18% | 1.12% | -3.36% | -21.27% | -45.91% | -75.55% |
| Free Cash Flow Per Share | 1.04 | 0.22 | -0.65 | -3.39 | -5.92 | -7.49 |
| Levered Free Cash Flow | 19.27M | -3.29M | -71.53M | -182.32M | -224.82M | -290.86M |
| Unlevered Free Cash Flow | 25.81M | 3.37M | -65.96M | -177.57M | -222.36M | -290.27M |
| Cash Interest Paid | 11.34M | 11.52M | 10.15M | 9.30M | 3.15M | 1.73M |
| Cash Income Tax Paid | 1.82M | 910.00K | 193.00K | 308.00K | 297.00K | 182.00K |
| Change in Working Capital | -1.92M | -32.24M | -13.68M | 14.28M | -54.11M | -30.58M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.35B | 2.97B | 7.19B | 4.19B | 2.53B | 4.13B |
| Enterprise Value | 3.49B | 3.19B | 7.34B | 4.27B | 2.35B | 3.97B |
| Last Close Price | 67.50 | 60.93 | 148.11 | 86.76 | 52.77 | 95.27 |
| PE Ratio | 18.90 | 21.37 | 153.20 | |||
| Forward PE | 45.18 | 48.83 | 120.11 | 273.24 | 273.24 | 273.24 |
| PS Ratio | 2.84 | 2.70 | 7.37 | 5.46 | 4.26 | 9.71 |
| PB Ratio | 2.65 | 2.46 | 6.81 | 4.39 | 2.46 | 5.74 |
| P/TBV Ratio | 2.70 | 2.46 | 6.81 | 4.39 | 2.46 | 5.74 |
| P/FCF Ratio | 54.84 | 240.28 | ||||
| P/OCF Ratio | 16.20 | 18.52 | 46.59 | 55.12 | 6,389.20 | |
| PEG Ratio | 1.74 | 1.20 | 4.33 | 4.33 | 4.33 | |
| EV/Sales Ratio | 2.96 | 2.90 | 7.53 | 5.57 | 3.95 | 9.33 |
| EV/EBITDA Ratio | 18.02 | 17.39 | 65.41 | 147.90 | 463.67 | |
| EV/EBIT Ratio | 36.18 | 34.00 | 190.18 | |||
| EV/FCF Ratio | 57.18 | 258.07 | ||||
| Debt / Equity Ratio | 0.40 | 0.41 | 0.40 | 0.45 | 0.01 | 0.01 |
| Debt / EBITDA Ratio | 2.44 | 2.61 | 3.73 | 13.87 | 0.69 | |
| Debt / FCF Ratio | 8.09 | 39.99 | ||||
| Net Debt / Equity Ratio | 0.12 | 0.18 | 0.15 | 0.13 | -0.12 | -0.09 |
| Net Debt / EBITDA Ratio | 0.74 | 1.18 | 1.39 | 4.44 | 7.79 | -7.67 |
| Net Debt / FCF Ratio | 2.34 | 17.53 | -4.74 | -0.79 | 0.47 | 0.20 |
| Asset Turnover | 0.68 | 0.66 | 0.64 | 0.59 | 0.62 | 0.70 |
| Inventory Turnover | 7.79 | 8.28 | 8.04 | 8.49 | 8.72 | 9.57 |
| Quick Ratio | 4.87 | 4.35 | 3.41 | 3.96 | 2.12 | 1.82 |
| Current Ratio | 6.05 | 5.54 | 4.42 | 4.79 | 2.92 | 2.55 |
| Return on Equity (ROE) | 17.62% | 12.29% | 4.67% | -3.39% | -6.79% | -5.33% |
| Return on Assets (ROA) | 3.49% | 3.50% | 1.59% | -1.43% | -3.33% | -2.25% |
| Return on Invested Capital (ROIC) | 7.00% | 7.13% | 3.32% | -2.98% | -6.53% | -4.43% |
| Return on Capital Employed (ROCE) | 5.60% | 5.50% | 2.60% | -2.20% | -4.90% | -3.00% |
| Earnings Yield | 5.29% | 4.68% | 0.65% | -0.80% | -2.35% | -0.72% |
| FCF Yield | 1.82% | 0.42% | -0.46% | -3.90% | -10.79% | -7.78% |
| Buyback Yield / Dilution | -17.03% | -11.51% | -4.34% | -4.27% | -7.59% | -7.98% |