Utz Brands, Inc. UTZ
We were founded in 1921 in Hanover, Pennsylvania and benefit from over 100 years of brand awareness and heritage in the salty snack industry. We are a leading United States manufacturer of branded salty snacks, producing a broad offering of salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, pub/party mixes and other snacks. Our iconic portfolio of authentic, craft and "better-for-you" ("BFY") brands includes Utz®, On The Border®, Zapp's®, Boulder Canyon®, Golden Flake®, Hawaiian® Brand and Miguelito's®, among others, and enjoys strong household penetration in the United States, where our products can be found in approximately 50% of U.S. households as of December 28, 2025. As of December 28, 2025, we operate eight primary manufacturing facilities across the United States with a broad range of capabilities. Our products are distributed nationally to grocery, mass merchant, club, convenience, drug and other retailers through direct shipments, distributors and approximately 2,500 direct-store delivery ("DSD") routes. We have historically expanded our geographic reach and product portfolio organically and through acquisitions. Based on 2025 retail sales, we are the second-largest producer of branded salty snacks in our collective core geographies of Alabama, Connecticut, Delaware, Louisiana, Maine, Maryland, Massachusetts, Mississippi, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, Washington, and West Virginia (our "Core Geographies," and all other states in the United States, our "Expansion Geographies"), where we have acquired strong regional brands and distribution capabilities in recent years.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.44B | $1.41B | $1.44B | $1.41B | $1.18B | — | $768.2M | $772.0M | — |
| Cost of revenue | $1.08B | $1.04B | $1.09B | $959.3M | $796.8M | — | $514.4M | $505.3M | — |
| Gross profit | $358.3M | $369.1M | $350.8M | $449.1M | $383.9M | — | $253.8M | $266.7M | — |
| SG&A | $348.0M | $310.1M | $327.4M | $444.4M | $375.2M | — | $228.3M | $251.4M | — |
| Operating income | $19.5M | $58.9M | $16.0M | $5.3M | $10.6M | — | $38.7M | $19.4M | — |
| Interest expense | $43.1M | $44.9M | $60.6M | $44.4M | $34.7M | — | $48.4M | $45.7M | — |
| Pre-tax income | -$600.0K | $69.4M | -$39.2M | -$38.0M | $16.1M | — | -$10.2M | -$25.7M | — |
| Income tax | $7.1M | $38.7M | $800.0K | $23.9M | $8.1M | — | $3.1M | $1.9M | — |
| Net income | $800.0K | $15.9M | -$24.9M | -$392.0K | $20.6M | — | -$16.2M | -$30.5M | — |
| EPS, basic | 0.01 | 0.19 | -0.31 | 0.00 | 0.26 | — | — | — | — |
| EPS, diluted | 0.01 | 0.19 | -0.31 | 0.00 | 0.25 | — | — | — | — |
| Shares, diluted (wtd. avg.) | 87.8M | 85.4M | 81.1M | 80.1M | 81.1M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $120.4M | $56.1M | $52.0M | $72.9M | $41.9M | $46.8M | $15.1M | $6.9M | $9.7M |
| Receivables | $100.8M | $119.9M | $135.1M | $137.0M | $131.4M | $118.3M | $106.8M | — | — |
| Inventory | $119.3M | $101.4M | $104.7M | $118.0M | $79.5M | $59.8M | $50.9M | — | — |
| Total current assets | $384.4M | $317.3M | $328.1M | $372.2M | $277.9M | $244.2M | $184.1M | $1.3M | — |
| Property, plant and equipment | — | — | — | — | $303.8M | $270.4M | $171.7M | — | — |
| Goodwill | $865.2M | $865.2M | $915.3M | $915.3M | $915.4M | $207.5M | $202.4M | $130.9M | — |
| Other intangibles | $963.9M | $996.5M | $1.06B | $1.10B | $1.14B | $1.17B | $184.0M | — | — |
| Total assets | $2.79B | $2.72B | $2.75B | $2.84B | $2.72B | $2.58B | $778.5M | $443.3M | — |
| Accounts payable | $197.4M | $151.0M | $124.4M | $114.4M | $95.4M | $57.3M | $49.0M | $115.1K | — |
| Short-term debt | $31.4M | $16.1M | $21.1M | $18.5M | $11.4M | $469.0K | — | — | — |
| Total current liabilities | $323.2M | $285.3M | $230.7M | $237.4M | $188.0M | $200.1M | $107.5M | $149.4K | — |
| Long-term debt | $818.2M | $752.5M | $878.5M | $893.3M | $830.5M | $778.0M | — | — | — |
| Total liabilities | $1.45B | $1.34B | $1.36B | $1.39B | $1.28B | $1.20B | $811.9M | $15.6M | — |
| Retained earnings | -$326.6M | -$304.7M | -$298.0M | -$254.6M | -$236.6M | -$241.5M | $5.0M | $1.9M | — |
| Total equity | $713.7M | $696.9M | $1.38B | $1.45B | $1.43B | $1.38B | $5.0M | $5.0M | $0 |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $112.2M | $106.2M | $76.6M | $48.2M | $48.4M | — | $28.0M | $15.7M | — |
| Depreciation and amortisation | $82.4M | $70.9M | $79.5M | $86.8M | $80.7M | — | $29.3M | $30.4M | — |
| Stock-based compensation | $17.1M | $18.3M | $17.1M | $10.6M | $13.0M | — | — | — | — |
| Capital expenditure | $102.8M | $98.6M | $55.7M | $88.0M | $38.4M | — | $20.0M | $13.0M | — |
| Investing cash flow | -$86.9M | $75.0M | -$48.5M | -$76.1M | -$136.1M | — | -$115.9M | -$2.2M | — |
| Financing cash flow | $39.0M | -$177.1M | -$49.0M | $58.9M | $82.8M | — | $96.0M | -$16.4M | — |
| Dividends paid | $22.3M | $21.7M | $18.5M | $17.2M | $11.9M | — | $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 0001628280-26-007757.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | $772.0M | $768.2M | — | $1.18B | $1.41B | $1.44B | $1.41B | $1.44B |
| Gross profit | — | $266.7M | $253.8M | — | $383.9M | $449.1M | $350.8M | $369.1M | $358.3M |
| Net income | — | -$30.5M | -$16.2M | — | $20.6M | -$392.0K | -$24.9M | $15.9M | $800.0K |
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
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- 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
- 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
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Results announced Item 2.02
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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