FRPTNasdaqGrain Mill ProductsFiscal year ends December 31
Freshpet, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$66.12−0.51 (-0.77%)
Close on Oct 19, 2026
- Market cap
- $3.69B
- P/E (TTM)
- 17.6
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
40.8%−0.9 pts over 5 years
Operating margin
6.9%+7.5 pts over 5 years
Net margin
12.6%+13.6 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +13.0% | +22.8% | +28.2% | +25.2% | |
| Gross profit | +13.6% | +34.2% | +27.6% | +23.5% | |
| Operating income | +99.1% | – | – | – | |
| Net income | +196.5% | – | – | – | |
| EPS, diluted | +183.9% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -3.0% | -1.2% | 12.3% | |
| Return on assets | -2.6% | -1.0% | 8.3% | |
| Current ratio | 1.03 | 3.29 | 5.54 | |
| Debt to equity | – | 0.00 | – | |
| Net debt to EBITDA | – | -3.58× | – | |
| Interest coverage | -3.2× | -1.6× | 5.4× | |
| Inventory turnover | 11.3× | 11.7× | 8.3× | |
| Capex to revenue | 23.1% | 42.2% | 13.4% | |
| Diluted shares | 34M | 40M | 56M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Freshpet generated $434.66M from operations and spent $1.13B on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$434.66M
Used
$1.13B
Capital expenditure$1.13B100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin12.6%
×Asset turnover0.66×
×Equity multiplier1.48×
=Return on equity, FY202512.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 12.6% | 0.66× | 1.48× | 12.3% |
| FY2024 | 4.8% | 0.64× | 1.51× | 4.7% |
| FY2023 | -4.4% | 0.59× | 1.30× | -3.4% |
| FY2022 | -10.0% | 0.62× | 1.09× | -6.8% |
| FY2021 | -7.0% | 0.70× | 1.09× | -5.3% |
| FY2020 | -1.0% | 0.95× | 1.28× | -1.2% |
| FY2019 | -0.6% | 1.31× | 1.49× | -1.1% |
| FY2018 | -2.8% | 1.41× | 1.15× | -4.5% |
| FY2017 | -2.8% | 1.17× | 1.16× | -3.8% |
| FY2016 | -2.4% | 1.08× | 1.13× | -3.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$139.14M
- Cash generatingOperating cash flow above zero$160.56M
- Return on assets improvedROA up on the prior year3.2% → 8.8%
- Earnings backed by cashOperating cash flow above net income$160.56M vs $139.14M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.42 → 5.54
- No dilutionShare count did not rise50M → 56M
- Gross margin improvedGross margin up on the prior year40.60% → 40.80%
- More efficientAsset turnover rose0.67 → 0.70