Bellring Brands, Inc. income statement
In fiscal 2025, Bellring Brands, Inc. reported revenue of $2.32bn, up 16.1% on the year before, operating income of $357m (a 15.4% margin) and net income of $216m, or $1.68 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2018Sept 2018 | 2019Sept 2019 | 2020Sept 2020 | 2021Sept 2021 | 2022Sept 2022 | 2023Sept 2023 | 2024Sept 2024 | 2025Sept 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 828 | 854 | 988 | 1,247 | 1,372 | 1,667 | 1,996 | 2,317 | 2,355 |
| Cost of revenue | 550 | 543 | 650 | 861 | 950 | 1,137 | 1,289 | 1,546 | 1,681 |
| Gross profit | 278 | 312 | 338 | 386 | 422 | 530 | 707 | 770 | 673 |
| Research and development | 8 | 8 | 9 | 11 | 11 | 12 | 14 | 16 | — |
| Selling, general and administrative | 135 | 127 | 152 | 167 | 190 | 216 | 285 | 396 | 344 |
| Operating income | 120 | 163 | 164 | 168 | 212 | 287 | 388 | 357 | 312 |
| Interest expense | 0 | 0 | 55 | 43 | 49 | 67 | 58 | 68 | — |
| Income before tax | 120 | 163 | 109 | 123 | 146 | 220 | 329 | 289 | 233 |
| Income tax | 24 | 39 | 9 | 9 | 30 | 55 | 83 | 73 | 62 |
| Net income | 0 | 0 | 24 | 28 | 82 | 166 | 247 | 216 | 171 |
| Diluted EPS | $0.00 | $0.00 | $0.60 | $0.70 | $0.88 | $1.23 | $1.86 | $1.68 | $1.43 |
| Diluted shares (average) | — | — | 40m | 40m | 94m | 134m | 132m | 129m | 120m |
| EBITDA | 146 | 188 | 189 | 222 | 234 | 316 | 424 | 376 | 332 |
| Quarter | 2024 Q4Sept 2024 | 2025 Q1Dec 2024 | 2025 Q2Mar 2025 | 2025 Q3Jun 2025 | 2025 Q4Sept 2025 | 2026 Q1Dec 2025 | 2026 Q2Mar 2026 | 2026 Q3Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 556 | 533 | 588 | 548 | 648 | 537 | 599 | 570 |
| Cost of revenue | 351 | 333 | 398 | 354 | 461 | 377 | 437 | 407 |
| Gross profit | 205 | 200 | 190 | 194 | 187 | 161 | 162 | 163 |
| Selling, general and administrative | 89 | 80 | 91 | 145 | 81 | 78 | 92 | 94 |
| Operating income | 112 | 115 | 95 | 45 | 102 | 79 | 66 | 65 |
| Interest expense | 15 | 14 | 17 | 18 | 19 | 20 | — | — |
| Income before tax | 98 | 101 | 79 | 26 | 83 | 59 | 46 | 46 |
| Income tax | 26 | 24 | 20 | 5 | 24 | 15 | 12 | 11 |
| Net income | 72 | 77 | 59 | 21 | 60 | 44 | 34 | 34 |
| Diluted EPS | $0.54 | $0.59 | $0.45 | $0.16 | $0.47 | $0.36 | $0.29 | $0.29 |
| EBITDA | 117 | 120 | 100 | 49 | 107 | 83 | 71 | 71 |
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