Primo Brands Corp PRMB

Consumer staples SIC 2080 - Beverages NYSE

When used in this report, the terms "the Company," "our Company," "Primo Brands," "we," "us," or "our" refers to Primo Brands Corporation, together with its consolidated subsidiaries, for periods following the Transaction (as defined below) and to Triton Water Parent, Inc. and its consolidated subsidiaries (collectively, "BlueTriton") and/or Primo Water Corporation and its consolidated subsidiaries (collectively, "Primo Water") for periods prior to the Transaction.

Primo Brands is a leading North American branded beverage company focused on healthy hydration, delivering responsibly sourced diversified offerings across products, formats, channels, price points and consumer occasions, distributed in every U.S. state and Canada. We were organized as a Delaware corporation in 2024, initially under the name Triton US HoldCo, Inc. On November 8, 2024, Triton US HoldCo, Inc. completed a series of merger transactions involving BlueTriton and Primo Water, pursuant to which Primo Water and BlueTriton became wholly owned subsidiaries of Triton US Holdco, Inc. (including all related transactions, the "Transaction"). Triton US Holdco, Inc. was subsequently renamed Primo Brands Corporation. The Company became the successor issuer to Primo Water pursuant to Rule 12g-3(a) under the Exchange Act. Pursuant to Rule 12g-3(e) under the Exchange Act, our Class A common stock, par value $0.01 per share (the "Class A common stock") was deemed to be registered under Section 12(b) of the Exchange Act, and the Company is subject to the informational requirements of the Exchange Act and the related rules and regulations. On November 11, 2024, the Company's Class A common stock began regular-way trading on the New York Stock Exchange ("NYSE") under the ticker symbol "PRMB".

Last close 22.00 2026-09-04
Market cap $7.97B 2026-06-30 share count
52-week range 14.36 - 26.21

Valuation FY2025 figures against the last close

P/S1.2x
P/E137.5x
P/FCF26.3x
EV/EBITDA12.3x
Dividend yield1.9%
Diluted EPS0.16

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021
Revenue $6.66B$5.15B$4.70B$4.44B
Cost of revenue $4.64B$3.53B$3.35B$3.45B
Gross profit $2.02B$1.62B$1.35B$994.2M
SG&A $1.39B$1.05B$924.2M$887.0M
Operating income $430.4M$360.3M$406.0M$23.3M
Interest expense $326.5M$339.6M$288.1M$211.8M
Pre-tax income $145.0M$20.7M$117.9M-$179.8M
Income tax $64.6M$33.3M$25.1M$53.1M
Net income $60.1M-$16.4M$92.8M-$126.7M
EPS, basic 0.16-0.070.29-0.74
EPS, diluted 0.16-0.070.29-0.74
Shares, diluted (wtd. avg.) $374.9M$242.3M$218.3M$218.3M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021
Cash and equivalents $376.7M$613.7M$47.0M$105.8M
Receivables $431.8M$444.0M$397.5M
Inventory $223.5M$208.4M$180.4M
Total current assets $1.22B$1.53B$698.0M
Goodwill $3.58B$3.57B$817.4M$816.5M
Other intangibles $2.99B$3.19B$1.42B
Total assets $10.60B$11.19B$5.15B
Accounts payable $518.9M$471.6M$356.5M
Short-term debt $73.3M$64.5M$31.9M
Total current liabilities $1.28B$1.41B$782.8M
Long-term debt $5.08B$4.96B$3.45B
Total liabilities $7.61B$7.75B$5.15B
Retained earnings -$2.01B-$1.51B-$1.01B
Total equity $2.99B$3.44B$2.7M$134.6M$341.4M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021
Operating cash flow $680.3M$463.8M$320.9M$108.3M
Depreciation and amortisation $610.2M$333.3M$305.7M$326.2M
Stock-based compensation $49.9M$8.7M$1.3M$1.8M
Capital expenditure $377.4M$150.2M$203.6M$258.5M
Investing cash flow -$337.9M$468.6M-$217.6M-$319.4M
Financing cash flow -$632.0M-$362.9M-$162.3M-$147.7M
Dividends paid $151.3M$35.7M$0$0
Buybacks $421.5M$10.4M$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 0001628280-26-012779.

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