BELLRING BRANDS, INC. BRBR

Consumer staples SIC 2000 - Food and Kindred Products NAICS Manufacturing › Food Manufacturing derived NYSE

BellRing Brands, Inc. (formerly known as BellRing Distribution, LLC) ("BellRing") was formed in the State of Delaware on October 20, 2021 as a wholly-owned subsidiary of Post Holdings, Inc. ("Post") for the purpose of effecting the separation of BellRing Intermediate Holdings, Inc. (formerly known as BellRing Brands, Inc.) ("Old BellRing") from Post. Under a transaction agreement and plan of merger (the "Transaction Agreement") that we entered into on October 26, 2021 and amended as of February 28, 2022, with Post, Old BellRing and our subsidiary BellRing Merger Sub Corporation ("Merger Sub"), Post distributed approximately 80.1% of its interest in us to Post's shareholders and Merger Sub merged with and into Old BellRing, with Old BellRing surviving and becoming our subsidiary. On March 10, 2022, as a result of the completion of the transactions provided for under the Transaction Agreement (including the "Separation" and "Distribution", each defined below), we became a new public holding company and the successor registrant to Old BellRing. In this report, we refer to the transactions undertaken pursuant to the Transaction Agreement as the "Spin-off." The Spin-off is described in more detail below.

Last close 9.55 2026-10-23
Market cap $1.11B 2026-06-30 share count
52-week range 7.33 - 33.56

Valuation FY2025 figures against the last close

P/S0.5x
P/E5.7x
P/FCF4.3x
EV/EBITDA5.6x
Dividend yield—
Diluted EPS1.68

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Cost of goods sold
  • Other segment expenses, net
  • Net Earnings
  • Advertising expenses
  • Income tax expense
  • Interest expense, net
  • Other
Revenue by segment, 7 categories over 1 years. The same figures are in the table below. FY2025 Cost of goods sold, FY2025: 1.5B (66.7%) 67% Cost of goods sold Other segment expenses, net, FY2025: 320.8M (13.8%) 14% Net Earnings, FY2025: 216.2M (9.3%) 9% Net Earnings Advertising expenses, FY2025: 75.2M (3.2%) Income tax expense, FY2025: 72.8M (3.1%) Interest expense, net, FY2025: 68.4M (3.0%) Other, FY2025: 17M (0.7%)
Segment FY2025
Cost of goods sold $1.55B
Other segment expenses, net $320.8M
Net Earnings $216.2M
Advertising expenses $75.2M
Income tax expense $72.8M
Interest expense, net $68.4M
Other $17.0M

As the company reported it, from the “Segments (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Revenue $2.32B$2.00B$1.67B$1.37B$1.25B$988.3M$854.4M$827.5M—
Cost of revenue $1.55B$1.29B$1.14B$949.7M$860.9M$650.3M$542.6M$549.8M—
Gross profit $770.4M$707.3M$530.2M$421.8M$386.2M$338.0M$311.8M$277.7M—
R&D $16.0M$14.3M$12.0M$11.4M$11.2M$9.4M$7.6M$8.1M—
SG&A $396.0M$284.6M$216.3M$189.7M$167.1M$151.8M$127.1M$135.1M—
Operating income $357.4M$387.7M$287.3M$212.4M$168.0M$164.0M$162.5M$119.8M—
Interest expense $68.4M$58.3M$66.9M$49.2M$43.2M$54.7M$0$0—
Pre-tax income $289.0M$329.4M$220.4M$145.6M$123.2M$109.3M$162.5M$119.8M—
Income tax $72.8M$82.9M$54.9M$29.6M$8.8M$9.2M$39.4M$23.7M—
Net income $216.2M$246.5M$165.5M$82.3M$27.6M$23.5M$0$0—
EPS, basic 1.701.891.240.880.700.600.000.00—
EPS, diluted 1.681.861.230.880.700.600.000.00—
Shares, diluted (wtd. avg.) 128.5M132.3M134.1M93.8M39.7M39.5M00—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Cash and equivalents $71.8M$70.8M$48.4M$35.8M$152.6M$48.7M$5.5M$10.9M$7.8M
Receivables $223.4M$220.4M$168.2M$173.3M$103.9M$83.1M$68.4M——
Inventory $330.4M$286.1M$194.3M$199.8M$117.9M$150.5M$138.2M——
Total current assets $665.5M$592.7M$424.2M$421.3M$388.1M$290.2M$219.5M——
Property, plant and equipment $19.0M$9.2M$8.5M$8.0M$8.9M$10.2M$11.7M——
Goodwill $65.9M$65.9M$65.9M$65.9M$65.9M$65.9M$65.9M——
Other intangibles $125.0M$141.8M$176.8M$203.3M$223.1M$274.3M$296.5M——
Total assets $941.0M$837.0M$691.6M$707.2M$696.5M$653.5M$594.5M——
Accounts payable $119.5M$121.0M$89.0M$93.8M$91.9M$56.7M$61.7M——
Short-term debt ———$0$116.3M$63.8M$0——
Total current liabilities $282.8M$203.7M$150.2M$143.5M$251.3M$153.1M$92.7M——
Long-term debt $1.08B$833.1M$856.8M$929.5M$481.2M$622.6M$0——
Total liabilities $1.39B$1.04B$1.02B$1.08B$762.0M$814.5M$108.1M——
Retained earnings $272.6M$56.4M-$190.1M-$355.6M-$3.06B-$2.18B$0——
Total equity -$453.9M-$205.9M-$323.5M-$376.2M-$3.06B-$2.18B$486.4M$451.7M—

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Operating cash flow $260.6M$199.6M$215.6M$21.0M$226.1M$97.2M$98.3M$141.2M—
Depreciation and amortisation $18.6M$36.5M$28.3M$21.3M$53.7M$25.3M$25.3M$25.9M—
Stock-based compensation $22.1M$21.0M$14.2M$9.8M$4.6M$2.5M$0$0—
Capital expenditure $4.7M$1.8M$1.8M$1.8M$1.6M$2.1M$3.2M$5.0M—
Investing cash flow -$4.7M-$1.8M-$1.8M-$1.8M-$1.6M-$2.1M-$3.2M-$5.0M—
Financing cash flow -$238.3M-$175.1M-$201.7M-$135.0M-$120.9M-$52.6M-$100.2M-$133.0M—
Buybacks ———$42.8M$0$0———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001772016-25-000153.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 1B 2B 3B Revenue, FY2018: 827.5M Gross profit, FY2018: 277.7M Net income, FY2018: 0 Revenue, FY2019: 854.4M Gross profit, FY2019: 311.8M Net income, FY2019: 0 Revenue, FY2020: 988.3M Gross profit, FY2020: 338M Net income, FY2020: 23.5M Revenue, FY2021: 1.2B Gross profit, FY2021: 386.2M Net income, FY2021: 27.6M Revenue, FY2022: 1.4B Gross profit, FY2022: 421.8M Net income, FY2022: 82.3M Revenue, FY2023: 1.7B Gross profit, FY2023: 530.2M Net income, FY2023: 165.5M Revenue, FY2024: 2B Gross profit, FY2024: 707.3M Net income, FY2024: 246.5M Revenue, FY2025: 2.3B Gross profit, FY2025: 770.4M Net income, FY2025: 216.2M FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $827.5M $854.4M $988.3M $1.25B $1.37B $1.67B $2.00B $2.32B
Gross profit — $277.7M $311.8M $338.0M $386.2M $421.8M $530.2M $707.3M $770.4M
Net income — $0 $0 $23.5M $27.6M $82.3M $165.5M $246.5M $216.2M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Officer or director change Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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