NYSE : PRMB
Primo Brands Corporation — Financial statements
Consumer Staples · Beverages - Non-Alcoholic · United States
Last price 19.74 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 7.15B
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Financial statements
Primo Brands Corporation (PRMB) reported revenue of 6.74B 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 | 6.74B | 6.66B | 5.15B | 4.70B | 4.44B | 3.36B |
| Cost of Revenue | 4.67B | 4.56B | 3.53B | 3.35B | 3.45B | 2.66B |
| Gross Profit | 2.07B | 2.11B | 1.62B | 1.35B | 994.20M | 694.69M |
| Selling, General & Admin | 1.37B | 1.40B | 997.20M | 906.40M | 887.00M | 655.96M |
| Other Operating Expenses | -19.60M | -1.90M | 3.20M | 4.90M | 100.00K | -2.51M |
| Operating Expenses | 1.35B | 1.39B | 1.00B | 911.30M | 887.10M | 653.45M |
| Operating Income | 721.20M | 714.00M | 621.20M | 440.70M | 107.10M | 41.24M |
| Interest Expense | -322.10M | -326.50M | -339.60M | -288.10M | -211.80M | -136.69M |
| Currency Exchange Gain (Loss) | 2.30M | 1.80M | -3.40M | |||
| Other Non Operating Income (Expenses) | -20.50M | -1.10M | ||||
| EBT Excluding Unusual Items | 380.90M | 388.20M | 278.20M | 152.60M | -104.70M | -95.45M |
| Merger & Restructuring Charges | -226.70M | -271.80M | -204.10M | -16.90M | -83.80M | -124.69M |
| Asset Writedown | -35.60M | -35.60M | ||||
| Other Unusual Items | -17.70M | -18.60M | -53.40M | -17.80M | 8.70M | |
| Pretax Income | 183.70M | 145.00M | 20.70M | 117.90M | -179.80M | -220.15M |
| Income Tax Expense | 72.00M | 64.60M | 33.30M | 25.10M | -53.10M | -44.95M |
| Earnings From Continuing Operations | 111.70M | 80.40M | -12.60M | 92.80M | -126.70M | -175.20M |
| Earnings From Discontinued Operations | -11.40M | -20.30M | -3.80M | |||
| Net Income | 100.30M | 60.10M | -16.40M | 92.80M | -126.70M | -175.20M |
| Preferred Dividends & Other Adjustments | 28.90M | 33.80M | 26.51M | |||
| Net Income to Common | 100.30M | 60.10M | -16.40M | 63.90M | -160.50M | -201.71M |
| Shares Outstanding (Basic) | 366.61M | 373.51M | 242.31M | 218.34M | 218.29M | 1.03M |
| Shares Outstanding (Diluted) | 366.87M | 373.51M | 242.31M | 218.34M | 218.29M | 1.03M |
| EPS (Basic) | 0.27 | 0.16 | -0.07 | 0.29 | -0.74 | -196.06 |
| EPS (Diluted) | 0.27 | 0.16 | -0.07 | 0.29 | -0.74 | -196.06 |
| Free Cash Flow | 371.50M | 310.00M | 317.00M | 117.30M | -150.20M | -27.27M |
| Free Cash Flow Per Share | 1.01 | 0.83 | 1.31 | 0.54 | -0.69 | -26.51 |
| Dividend Per Share | 0.44 | 0.40 | 0.09 | |||
| Gross Margin | 30.75% | 31.63% | 31.47% | 28.77% | 22.39% | 20.70% |
| Operating Margin | 10.70% | 10.71% | 12.06% | 9.38% | 2.41% | 1.23% |
| Profit Margin | 1.49% | 0.90% | -0.32% | 1.36% | -3.61% | -6.01% |
| Free Cash Flow Margin | 5.51% | 4.65% | 6.15% | 2.50% | -3.38% | -0.81% |
| EBITDA | 1.34B | 1.32B | 954.50M | 746.40M | 433.30M | 461.67M |
| EBITDA Margin | 19.88% | 19.87% | 18.52% | 15.88% | 9.76% | 13.75% |
| D&A For EBITDA | 619.50M | 610.20M | 333.30M | 305.70M | 326.20M | 420.44M |
| EBIT | 721.20M | 714.00M | 621.20M | 440.70M | 107.10M | 41.24M |
| EBIT Margin | 10.70% | 10.71% | 12.06% | 9.38% | 2.41% | 1.23% |
| Effective Tax Rate | 39.19% | 44.55% | 160.87% | 21.29% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 366.50M | 376.70M | 613.70M | 44.70M | 102.90M | |
| Cash & Short-Term Investments | 368.90M | 376.70M | 613.70M | 44.70M | 102.90M | |
| Receivables | 575.40M | 431.80M | 444.00M | 397.50M | 462.80M | |
| Inventory | 257.00M | 223.50M | 208.40M | 180.40M | 230.60M | |
| Prepaid Expenses | 165.80M | 116.90M | 126.60M | 63.30M | 68.50M | |
| Restricted Cash | 300.00K | 200.00K | 700.00K | 2.30M | 2.90M | |
| Other Current Assets | 49.40M | 68.70M | 135.60M | 9.80M | 7.40M | |
| Total Current Assets | 1.42B | 1.22B | 1.53B | 698.00M | 875.10M | |
| Property, Plant & Equipment | 2.64B | 2.72B | 2.71B | 2.16B | 2.15B | |
| Long-Term Investments | 900.00K | 14.10M | 14.10M | 15.40M | 15.00M | |
| Goodwill | 3.60B | 3.58B | 3.57B | 817.40M | 816.50M | |
| Other Intangible Assets | 2.91B | 2.99B | 3.19B | 1.42B | 1.49B | |
| Long-Term Deferred Charges | 3.30M | 2.70M | 3.90M | |||
| Other Long-Term Assets | 70.50M | 68.20M | 174.90M | 38.90M | 38.30M | |
| Total Assets | 10.64B | 10.60B | 11.19B | 5.15B | 5.38B | |
| Accounts Payable | 556.90M | 518.90M | 471.60M | 356.50M | 589.80M | |
| Accrued Expenses | 628.40M | 126.40M | 233.50M | 170.60M | 138.30M | |
| Current Portion of Long-Term Debt | 73.30M | 36.40M | 37.10M | 30.10M | 28.00M | |
| Current Portion of Leases | 86.50M | 129.80M | 122.90M | 75.60M | 69.30M | |
| Current Income Taxes Payable | 53.40M | 29.80M | 17.00M | 18.40M | ||
| Current Unearned Revenue | 4.00M | |||||
| Other Current Liabilities | 1.60M | 417.80M | 516.60M | 133.00M | 123.50M | |
| Total Current Liabilities | 1.35B | 1.28B | 1.41B | 782.80M | 971.30M | |
| Long-Term Debt | 5.08B | 4.95B | 4.89B | 3.44B | 3.36B | |
| Long-Term Leases | 454.30M | 608.30M | 628.40M | 506.40M | 453.70M | |
| Pension & Post-Retirement Benefits | 12.00M | 11.60M | ||||
| Long-Term Deferred Tax Liabilities | 699.30M | 691.50M | 738.70M | 397.00M | 437.50M | |
| Other Long-Term Liabilities | 74.10M | 77.00M | 80.90M | 10.40M | 9.80M | |
| Total Liabilities | 7.66B | 7.61B | 7.75B | 5.15B | 5.25B | |
| Common Stock | 3.60M | 3.70M | 3.80M | |||
| Additional Paid-In Capital | 5.04B | 5.02B | 4.97B | 1.02B | 1.02B | |
| Retained Earnings | -2.05B | -2.01B | -1.51B | -1.01B | -1.06B | |
| Comprehensive Income & Other | -12.00M | -13.90M | -17.20M | -7.50M | -11.70M | |
| Total Common Equity | 2.98B | 2.99B | 3.44B | 2.70M | -45.90M | |
| Shareholders' Equity | 2.98B | 2.99B | 3.44B | 2.70M | 134.60M | |
| Total Liabilities & Equity | 10.64B | 10.60B | 11.19B | 5.15B | 5.38B | |
| Total Debt | 5.70B | 5.73B | 5.68B | 4.05B | 3.92B | |
| Net Cash (Debt) | -5.33B | -5.35B | -5.07B | -4.01B | -3.81B | |
| Net Cash Per Share | -14.52 | -14.32 | -20.90 | -18.37 | -17.46 | |
| Filing Date Shares Outstanding | 362.35M | 363.33M | 380.12M | 1.03M | 218.29M | 1.03M |
| Total Common Shares Outstanding | 362.46M | 363.94M | 379.79M | 1.03M | 218.29M | 1.03M |
| Working Capital | 70.10M | -64.90M | 117.50M | -84.80M | -96.20M | |
| Book Value Per Share | 8.22 | 8.22 | 9.07 | 2.62 | -44.61 | |
| Tangible Book Value | -3.53B | -3.58B | -3.32B | -2.23B | -2.35B | |
| Tangible Book Value Per Share | -9.74 | -9.84 | -8.74 | -2,169.04 | -2,284.99 | |
| Land | 139.80M | 162.30M | 76.80M | 76.40M | ||
| Buildings | 545.00M | 489.10M | 449.00M | 414.40M | ||
| Machinery | 2.36B | 2.24B | 1.68B | 1.38B | ||
| Construction In Progress | 358.40M | 105.40M | 124.00M | 239.40M | ||
| Leasehold Improvements | 60.90M | 61.30M | 48.20M | 56.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 100.30M | 60.10M | -16.40M | 92.80M | -126.70M | -175.20M |
| Depreciation & Amortization | 619.50M | 610.20M | 333.30M | 305.70M | 326.20M | 420.44M |
| Other Amortization | 31.20M | 29.80M | 18.40M | 13.50M | 13.90M | 10.91M |
| Asset Writedown & Restructuring Costs | 27.10M | 38.70M | 22.00M | 3.70M | ||
| Stock-Based Compensation | 46.00M | 49.90M | 8.70M | 1.30M | 1.80M | |
| Provision & Write-off of Bad Debts | 53.60M | 45.90M | 12.60M | 14.10M | 18.40M | 12.33M |
| Other Operating Activities | -33.20M | -40.10M | -41.30M | 1.30M | -26.80M | -29.24M |
| Change in Accounts Receivable | -43.80M | -30.90M | 83.60M | 51.30M | -188.00M | 3.71M |
| Change in Inventory | -23.50M | -33.50M | -100.00K | 23.10M | -113.10M | -27.60M |
| Change in Accounts Payable | 37.80M | -62.00M | 76.50M | -184.00M | 212.40M | -5.02M |
| Change in Other Net Operating Assets | 3.20M | 12.20M | -33.50M | 1.80M | -13.50M | -75.71M |
| Operating Cash Flow | 823.00M | 687.40M | 467.20M | 320.90M | 108.30M | 134.62M |
| Capital Expenditures | -451.50M | -377.40M | -150.20M | -203.60M | -258.50M | -161.89M |
| Cash Acquisitions | -43.30M | -29.00M | 665.90M | -4.28B | ||
| Sale (Purchase) of Intangibles | -64.50M | -57.00M | -40.70M | -14.10M | -78.20M | -54.55M |
| Investment in Securities | -10.00M | -3.00M | -1.20M | -18.55M | ||
| Other Investing Activities | 110.40M | 164.30M | 9.40M | 3.10M | 18.50M | 581.13M |
| Investing Cash Flow | -418.90M | -299.10M | 474.40M | -217.60M | -319.40M | -3.94B |
| Long-Term Debt Issued | 425.30M | 182.00M | ||||
| Total Debt Issued | 659.60M | 425.30M | 182.00M | 3.78B | ||
| Long-Term Debt Repaid | -70.90M | -158.70M | -114.10M | -75.10M | ||
| Total Debt Repaid | -719.50M | -70.90M | -158.70M | -114.10M | -75.10M | -14.84M |
| Net Debt Issued (Repaid) | -59.90M | -70.90M | 266.60M | 67.90M | -75.10M | 3.76B |
| Issuance of Common Stock | 10.20M | 10.70M | 1.90M | 3.30M | 2.40M | 1.11B |
| Repurchase of Common Stock | -248.30M | -421.50M | -10.40M | |||
| Preferred Dividends Paid | -49.90M | -8.60M | -26.51M | |||
| Common Dividends Paid | -163.00M | -151.30M | -615.80M | -804.00M | ||
| Dividends Paid | -163.00M | -151.30M | -615.80M | -49.90M | -8.60M | -830.51M |
| Other Financing Activities | 12.10M | -1.20M | -8.70M | |||
| Financing Cash Flow | -448.90M | -634.20M | -366.40M | -162.30M | -147.70M | 4.31B |
| Foreign Exchange Rate Adjustments | -800.00K | 2.10M | -1.50M | 200.00K | -200.00K | -654.54K |
| Miscellaneous Cash Flow Adjustments | -109.09K | |||||
| Net Cash Flow | -45.60M | -243.80M | 573.70M | -58.80M | -359.00M | 507.05M |
| Free Cash Flow | 371.50M | 310.00M | 317.00M | 117.30M | -150.20M | -27.27M |
| Free Cash Flow Margin | 5.51% | 4.65% | 6.15% | 2.50% | -3.38% | -0.81% |
| Free Cash Flow Per Share | 1.01 | 0.83 | 1.31 | 0.54 | -0.69 | -26.51 |
| Levered Free Cash Flow | 403.34M | 436.89M | 657.90M | 120.17M | ||
| Unlevered Free Cash Flow | 573.45M | 611.15M | 851.75M | 286.74M | ||
| Cash Interest Paid | 298.40M | 303.10M | 320.20M | 274.30M | 198.20M | 111.27M |
| Cash Income Tax Paid | 77.10M | 56.90M | 97.10M | 65.90M | 13.90M | 109.09K |
| Change in Working Capital | -26.30M | -114.20M | 126.50M | -107.80M | -102.20M | -104.62M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.53B | 5.98B | 11.66B | |||
| Enterprise Value | 12.85B | 11.26B | 15.80B | |||
| Last Close Price | 19.74 | 16.10 | 29.78 | 13.88 | 14.01 | 15.59 |
| PE Ratio | 77.99 | 99.47 | ||||
| Forward PE | 14.92 | 12.58 | 26.79 | |||
| PS Ratio | 1.09 | 0.90 | 2.26 | |||
| PB Ratio | 2.40 | 2.00 | 3.39 | |||
| P/FCF Ratio | 19.79 | 19.28 | 36.79 | |||
| P/OCF Ratio | 8.93 | 8.70 | 24.96 | |||
| PEG Ratio | 1.75 | 0.75 | 1.15 | |||
| EV/Sales Ratio | 1.88 | 1.69 | 3.07 | |||
| EV/EBITDA Ratio | 9.46 | 8.50 | 16.55 | |||
| EV/EBIT Ratio | 17.58 | 15.76 | 25.44 | |||
| EV/FCF Ratio | 34.13 | 36.31 | 49.84 | |||
| Debt / Equity Ratio | 1.91 | 1.91 | 1.65 | 1,501.70 | 29.09 | |
| Debt / EBITDA Ratio | 3.79 | 3.87 | 5.21 | 4.59 | 7.02 | |
| Debt / FCF Ratio | 15.34 | 18.47 | 17.91 | 34.57 | ||
| Net Debt / Equity Ratio | 1.79 | 1.79 | 1.47 | 1,485.15 | 28.32 | |
| Net Debt / EBITDA Ratio | 3.97 | 4.04 | 5.31 | 5.37 | 8.80 | |
| Net Debt / FCF Ratio | 14.34 | 17.25 | 15.98 | 34.19 | -25.38 | |
| Asset Turnover | 0.62 | 0.61 | 0.63 | 0.89 | ||
| Inventory Turnover | 18.48 | 21.10 | 18.16 | 16.29 | ||
| Quick Ratio | 0.70 | 0.63 | 0.75 | 0.56 | 0.58 | |
| Current Ratio | 1.05 | 0.95 | 1.08 | 0.89 | 0.90 | |
| Return on Equity (ROE) | 3.59% | 2.50% | -0.73% | 135.18% | ||
| Return on Assets (ROA) | 4.16% | 4.09% | 4.75% | 5.23% | ||
| Return on Invested Capital (ROIC) | 5.26% | 4.70% | -6.04% | 8.72% | 2.71% | |
| Return on Capital Employed (ROCE) | 7.80% | 7.70% | 6.30% | 10.10% | 2.40% | |
| Earnings Yield | 1.28% | 1.00% | -0.14% | |||
| FCF Yield | 5.05% | 5.19% | 2.72% | |||
| Dividend Yield | 2.31% | 2.44% | 0.29% | |||
| Payout Ratio | 172.74% | 251.75% | 53.77% | |||
| Buyback Yield / Dilution | -14.11% | -54.14% | -10.98% | -0.02% | -21,117.57% | |
| Total Shareholder Return | -11.73% | -51.71% | -10.69% | -0.02% | -21,117.57% |