FRPT · Freshpet, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $1.10B | $975.18M | $766.89M | $595.34M | $425.49M | $318.79M |
| Cost of Revenue | $652.39M | $579.22M | $516.02M | $409.31M | $263.34M | $185.88M |
| Gross Profit | $449.63M | $395.96M | $250.87M | $186.03M | $162.15M | $132.91M |
| R&D | - | - | - | - | - | $800.0K |
| SG&A | $373.95M | $357.96M | $281.32M | $238.02M | $186.81M | $134.91M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $86.40M | $69.50M | $58.17M | $34.33M | $29.47M | $20.80M |
| Operating Income | $75.67M | $38.00M | ($30.45M) | ($51.98M) | ($24.66M) | ($2.00M) |
| Interest Expense | $14.12M | $12.26M | $14.10M | $5.21M | $2.88M | $1.21M |
| Income Tax | ($68.36M) | $598.0K | $210.0K | $282.0K | $162.0K | $65.0K |
| Net Income | $139.14M | $46.92M | ($33.61M) | ($59.49M) | ($29.70M) | ($3.19M) |
| EPS - Basic | $2.85 | $0.97 | ($0.70) | ($1.29) | ($0.69) | ($0.08) |
| EPS - Diluted | $2.64 | $0.93 | ($0.70) | ($1.29) | ($0.69) | ($0.08) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $277.98M | $268.63M | $296.87M | $132.74M | $72.79M | $67.25M |
| Accounts Receivable | $63.76M | $68.42M | $56.75M | $57.57M | $34.78M | $18.44M |
| Inventory | $76.77M | $80.79M | $63.24M | $58.29M | $35.57M | $19.12M |
| Accounts Payable | $42.43M | $39.16M | $36.10M | $55.09M | $42.61M | $16.45M |
| Current Assets | $435.71M | $437.00M | $427.32M | $261.96M | $150.32M | $109.10M |
| Total Assets | $1.78B | $1.57B | $1.46B | $1.13B | $784.41M | $434.39M |
| Current Liabilities | $78.59M | $98.87M | $89.22M | $89.61M | $58.95M | $33.12M |
| Long-term Debt | - | - | - | - | - | $0 |
| Total Liabilities | $569.12M | $519.52M | $510.97M | $93.81M | $64.66M | $40.22M |
| Stockholders' Equity | $1.21B | $1.06B | $953.45M | $1.03B | $719.75M | $394.17M |
| Retained Earnings | ($142.67M) | ($281.81M) | ($328.73M) | ($295.12M) | ($235.62M) | ($205.92M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $160.56M | $154.29M | $75.94M | ($43.23M) | $647.0K | $21.19M |
| Investing Cash Flow | ($148.18M) | ($187.09M) | ($239.09M) | ($233.36M) | ($322.10M) | ($162.46M) |
| Financing Cash Flow | ($3.04M) | $4.57M | $327.29M | $336.54M | $326.99M | $199.04M |
| CapEx | $148.18M | $187.09M | $239.09M | $230.07M | $322.10M | $134.57M |
| Free Cash Flow | $12.38M | ($32.80M) | ($163.15M) | ($273.30M) | ($321.45M) | ($113.38M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 40.8% | 40.6% | 32.7% | 31.2% | 38.1% | 41.7% |
| Operating margin | 6.9% | 3.9% | -4.0% | -8.7% | -5.8% | -0.6% |
| EBITDA margin | 14.7% | 11.0% | 3.6% | -3.0% | 1.1% | 5.9% |
| Net margin | 12.6% | 4.8% | -4.4% | -10.0% | -7.0% | -1.0% |
| Free cash flow margin | 1.1% | -3.4% | -21.3% | -45.9% | -75.5% | -35.6% |
| FCF / Net income | 0.09 | -0.70 | 4.85 | 4.59 | 10.82 | 35.56 |
| R&D / Revenue | - | - | - | - | - | 0.3% |
| SG&A / Revenue | 33.9% | 36.7% | 36.7% | 40.0% | 43.9% | 42.3% |
| Effective tax rate | -96.6% | 1.3% | - | - | - | - |
| Return on assets | 7.8% | 3.0% | -2.3% | -5.3% | -3.8% | -0.7% |
| Return on equity | 11.5% | 4.4% | -3.5% | -5.8% | -4.1% | -0.8% |
| Return on invested capital | - | - | - | - | - | -0.4% |
| Liquidity | ||||||
| Current ratio | 5.54 | 4.42 | 4.79 | 2.92 | 2.55 | 3.29 |
| Quick ratio | 4.57 | 3.60 | 4.08 | 2.27 | 1.95 | 2.72 |
| Cash ratio | 3.54 | 2.72 | 3.33 | 1.48 | 1.23 | 2.03 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | 0.00 |
| Debt / Assets | - | - | - | - | - | 0.00 |
| Debt / EBITDA | - | - | - | - | - | 0.00 |
| Interest coverage | 5.4x | 3.1x | -2.2x | -10.0x | -8.6x | -1.6x |
| Equity multiplier | 1.47 | 1.49 | 1.54 | 1.09 | 1.09 | 1.10 |
| Liabilities / Assets | 0.32 | 0.33 | 0.35 | 0.08 | 0.08 | 0.09 |
| Efficiency | ||||||
| Asset turnover | 0.62 | 0.62 | 0.52 | 0.53 | 0.54 | 0.73 |
| Inventory turnover | 8.50 | 7.17 | 8.16 | 7.02 | 7.40 | 9.72 |
| Days sales outstanding | 21d | 26d | 27d | 35d | 30d | 21d |
| Days inventory outstanding | 43d | 51d | 45d | 52d | 49d | 38d |
| Days payable outstanding | 24d | 25d | 26d | 49d | 59d | 32d |
| Cash conversion cycle | 40d | 52d | 46d | 38d | 20d | 26d |
| Valuation | ||||||
| P / E | 23.1x | 159.3x | - | - | - | - |
| P / B | 2.8x | 7.1x | 4.4x | 2.4x | 0.0x | 14.3x |
| P / S | 3.1x | 7.6x | 5.4x | 4.1x | 0.0x | 17.7x |
| EV / EBITDA | 19.4x | 66.7x | 140.0x | - | -14.3x | 296.7x |
| Growth | ||||||
| Revenue growth (YoY) | 13.0% | 27.2% | 28.8% | 39.9% | 33.5% | 29.7% |
| Revenue CAGR (3y) | 22.8% | 31.8% | 34.0% | 34.3% | 48.6% | 26.8% |
| Revenue CAGR (5y) | 28.2% | 31.7% | 42.7% | 30.7% | 26.2% | 22.4% |
| Gross profit growth (YoY) | 13.6% | 57.8% | 34.9% | 14.7% | 22.0% | 16.4% |
| Operating income growth (YoY) | 99.1% | - | 41.4% | -110.8% | -1134.4% | -690.0% |
| Net income growth (YoY) | 196.5% | - | 43.5% | -100.3% | -831.6% | -130.6% |
| EPS growth (YoY) | 183.9% | - | 45.7% | -87.0% | -762.5% | -100.0% |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | - | 79.9% | 40.3% | 15.0% | -183.5% | -108.7% |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 14.5% | 10.7% | -7.6% | 43.3% | 82.6% | 200.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$1.10B totalReportable Segment$1.10B · 100.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.72
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Grain Mill Products
Comparing Freshpet against the 5 most active filers in the same SIC group.