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Freshpet, Inc. (FRPT) stock

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NASDAQ: FRPT Nasdaq Packaged Foods & Meats Next results ~November 4, 2026

B Fundamentals grade

Freshpet, Inc. is a US-listed company in the packaged foods & meats industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Model estimate per share

~$18

Valuation models combined (3)

Base case. Range ~$15–$23. Weighted average of 3 models (growth cash-flow model, forward price-to-earnings vs peers, revenue-to-maturity model), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Freshpet, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders6 buying, 2 selling10 purchases and 65 sales by directors and officers, last 12 monthsInsider trades
  • Funds154 adding, 183 cuttingOf 61 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Freshpet files

Where Freshpet stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $1.18bn, up 12.8% on a year earlier, faster than 12.0% a quarter earlier. Free-cash-flow margin rose to 5.2% from -0.7% a year earlier. Operating margin widened to 8.1% from 3.6%. The diluted share count is up 17.7% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C+. It passes 3 of our 3 financial-health checks. Our valuation models combined value is $64.73 a share, against a share price of $65.16.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Freshpet, Inc.'s trailing-twelve-month revenue grew 12.8% year on year, with a free-cash-flow margin of 5.2%. Where it stands out: net margin of 17.3% ranks 3 of 44 packaged foods & meats companies we cover. Where it lags: change in share count of 17.7% ranks 39 of 40 packaged foods & meats companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 30% in the quarter to 2026-06-30, the 4th beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 4.5 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.4bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 8.6% over 90 days.

Things to watch

  • Share dilution. Diluted shares rose 17.7% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 49% and a beta of 0.4 against the S&P 500.
  • Weak cash conversion. Free cash flow was 30% of net income over the last 12 months.
  • Heavily shorted. 19.2% of the shares available to trade are sold short (7.3 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.29 against an average estimate of $0.22: beat by 30.3%
Revenue
$306m, up 15.5% on a year earlier
Share reaction
+7.0% in the first session after the results on August 5, 2026, against -0.4% for the S&P 500
Guidance given
net sales growth growth 10% to 12% (full year 2026); adjusted EBITDA $210m to $220m (full year 2026)
Next report
November 4, 2026; average EPS estimate $0.36

Freshpet's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.1%
  • 1 week+7.5%
  • 1 month+15.5%
  • This year+14.3%
  • 1 year+41.5%
  • 5 years-54.2%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.2B
Operating margin
8.1%
Net margin
17.3%
EPS (TTM, diluted)
$3.43

Growth

Revenue growth
+12.8%
Change in growth rate
+0.8 pts
Share count change
+17.7%

Cash

Free cash flow (TTM)
$61M
FCF margin
5.2%
Stock pay % of revenue
1.2%

Earnings

Last results
August 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Insider trade
  3. Insider trade
  4. Insider trade
  5. Insider trade
  6. Results
  7. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Freshpet, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Freshpet, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.8%: the 10-year Treasury yield (4.9%) plus a beta of 0.85 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$15 ~$11–$17 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$19 ~$20–$32 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$7.9 ~$4.6–$13 Left out: out of range vs price (0.11x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$23 ~$18–$28 Included
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$18 ~$15–$23 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Freshpet, Inc. with Packaged Foods & Meats in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$8.49$10.15$18.95$32.16$59.09$141.99$95.27$52.77$86.76$148.11$60.93$69.62
Market value$284m$342m$654m$1.1bn$2.1bn$5.6bn$4.1bn$2.4bn$4.2bn$7.4bn$3.4bn$4.1bn
+ Net debt (− = net cash)−$8m$3m−$2m−$8m−$9m−$67m−$73m−$133m$96m$127m$119m$48m
Enterprise value$276m$345m$651m$1.1bn$2.1bn$5.6bn$4.0bn$2.3bn$4.3bn$7.6bn$3.5bn$4.2bn
Multiples
Price / sales 2.4x2.6x4.3x5.9x8.6x17.7x9.6x4.1x5.4x7.6x3.1x3.5x
Price / earnings —————————158.6x24.5x20.3x
Price / free cash flow ———n/m——————n/m67.6x
EV / EBITDA 70.4x45.0x65.5x126.6x137.8xn/mn/m—154.2x70.4x21.8x22.1x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

30 /100

Weak moat

How hard Freshpet's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median -2.7% of total assets over 10 years.

  • Pricing power 11 / 20

    Gross margin has been a median 41.1%, moving by 5.3 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -2.3%; its worst year was -8.5%.

  • Cash conversion 1 / 20

    Free cash flow was positive in 1 of 10 years, at a median -11.8% of revenue.

  • Discipline 8 / 20

    The diluted share count rose 66.3% over five years; stock-based pay has been a median 3.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, before the open. Analysts expect revenue of $311m and EPS of $0.36 (range $0.30 to $0.42) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $1.67 −41% $1.2bn +11%
Next $1.94 +17% $1.3bn +9%

Next year's EPS estimate has moved +8.6% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −0.2% on 90 days ago. In the last 30 days, 4 analysts raised Freshpet, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Freshpet, Inc., last 90 days
$1.60 $1.70 $1.80 $1.90 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.67 Current fiscal year, 60 days ago: $1.68 Current fiscal year, 30 days ago: $1.68 Current fiscal year, 7 days ago: $1.68 Current fiscal year, Now: $1.67 $1.67 Next fiscal year, 90 days ago: $1.79 Next fiscal year, 60 days ago: $1.96 Next fiscal year, 30 days ago: $1.96 Next fiscal year, 7 days ago: $1.96 Next fiscal year, Now: $1.94 $1.94

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.67$1.79
60 days ago $1.68$1.96
30 days ago $1.68$1.96
7 days ago $1.68$1.96
Now $1.67$1.94

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.22 $0.29 +30.3%
Mar 2026 $0.09 $0.17 +92.2%
Dec 2025 $0.48 $0.62 +29.5%
Sept 2025 $0.40 $1.83 +353.6%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 5, 2026
  • Net sales growth full year 2026 10% growth to 12% growth Raised
    “Net sales growth in the range of 10% to 12%, compared to growth of 8% to 11% in the previous guidance;” source
  • Adjusted Gross Margin full year 2027 — Non-GAAP Raised
    “Adjusted Gross Margin of at least 49%, compared to at least 48% previously; and” source
  • Adjusted EBITDA full year 2026 $210m to $220m Non-GAAP Raised
    “Adjusted EBITDA in the range of $210 million to $220 million, compared to $205 million to $215 million in the previous guidance; and” source
  • capital expenditures full year 2026 about $150m Maintained
    “Positive Free Cash Flow with capital expenditures of ~$150 million, unchanged from the previous guidance.” source
  • Adjusted EBITDA margin full year 2027 20% to 22% Non-GAAP Maintained
    “Adjusted EBITDA margin in the range of 20% to 22%, unchanged.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

18 analysts, Oct 2026
Buy1372%
Hold528%
Sell00%

Monthly trend

  1. Oct 2026310518
  2. Sep 2026310417
  3. Aug 2026310417
  4. Jul 2026311317

Counts of recommendations published by analysts covering Freshpet, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
19.2%
of tradable shares
Days to cover
7.31
at average volume
Short interest, 1 month
+3%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.2%
of shares
Employees
1,288
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +41.5%

$49.21 on October 31, 2025 to $69.62

ThenNowEffect
Revenue (last 12 months) $1.0bn $1.2bn +12.8%
Net margin 3.2% 17.3% +435.8%
P/E multiple 73.6x 20.3x −72.4%
Share count 50m 59m −15.0%

Biggest factor: net margin.

Last 3 years +19.5%

$58.25 on November 3, 2023 to $69.62

ThenNowEffect
Revenue (last 12 months) $668m $1.2bn +76.2%
P/S multiple 4.2x 3.5x −16.2%
Share count 48m 59m −19.1%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FRPT−33%−45%+64%+71%−59%+14%
Industry peers (median)+9%−3%−5%−2%−16%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FRPT42%50%67%50%42%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FRPT−51%−66%−33%−15%−70%−45%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 79% from April 30, 2021 to September 8, 2022. Getting back needed a 376% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$47.39 – $85.50
From 52-week high
−18.6%
vs 50-day average
+6.9%
vs 200-day average
+9.0%
Volatility (1 year)
49%
Beta vs S&P 500
0.39

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
10 up, 2 down
typical move ±10.8%
After a week
9 up, 3 down
typical move ±13.5%
After a month
8 up, 4 down
typical move ±19.7%
Results releasedNext dayS&P 500 next day5 days21 days
August 5, 2026 +7.0% −0.4% +15.9% +11.7%
May 6, 2026 −7.1% +1.1% −19.2% −17.3%
February 23, 2026 +8.6% −0.3% +13.2% −20.9%
November 3, 2025 +13.9% −1.0% +12.5% +26.4%
August 4, 2025 +2.4% +1.0% −5.3% −19.3%
May 5, 2025 +6.0% −1.4% +4.3% +7.0%
February 20, 2025 −23.2% −2.1% −18.0% −33.6%
November 4, 2024 +13.4% +1.0% +17.0% +17.0%
August 5, 2024 +4.1% −2.0% +6.0% +13.8%
May 6, 2024 +10.1% +1.1% +12.3% +20.0%
February 26, 2024 +17.7% −0.2% +22.3% +24.4%
November 6, 2023 +16.5% +0.5% +15.8% +24.4%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Freshpet, Inc. in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Freshpet, Inc.
$600M $800M $1B $1.2B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $717.3M Revenue (TTM), FY23 Q4: $766.9M Revenue (TTM), FY24 Q1: $823.2M Revenue (TTM), FY24 Q2: $875.1M Revenue (TTM), FY24 Q3: $927.9M Revenue (TTM), FY24 Q4: $975.2M Revenue (TTM), FY25 Q1: $1B Revenue (TTM), FY25 Q2: $1B Revenue (TTM), FY25 Q3: $1.1B Revenue (TTM), FY25 Q4: $1.1B Revenue (TTM), FY26 Q1: $1.1B Revenue (TTM), FY26 Q2: $1.2B $1.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $717.3M
FY23 Q4 $766.9M
FY24 Q1 $823.2M
FY24 Q2 $875.1M
FY24 Q3 $927.9M
FY24 Q4 $975.2M
FY25 Q1 $1B
FY25 Q2 $1B
FY25 Q3 $1.1B
FY25 Q4 $1.1B
FY26 Q1 $1.1B
FY26 Q2 $1.2B
Revenue growth, TTM YoY Freshpet, Inc.
10% 15% 20% 25% 30% 35% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 31.5% Revenue growth, TTM YoY, FY23 Q4: 28.8% Revenue growth, TTM YoY, FY24 Q1: 30.5% Revenue growth, TTM YoY, FY24 Q2: 31.0% Revenue growth, TTM YoY, FY24 Q3: 29.4% Revenue growth, TTM YoY, FY24 Q4: 27.2% Revenue growth, TTM YoY, FY25 Q1: 23.2% Revenue growth, TTM YoY, FY25 Q2: 19.3% Revenue growth, TTM YoY, FY25 Q3: 16.3% Revenue growth, TTM YoY, FY25 Q4: 13.0% Revenue growth, TTM YoY, FY26 Q1: 12.0% Revenue growth, TTM YoY, FY26 Q2: 12.8% 12.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 31.5%
FY23 Q4 28.8%
FY24 Q1 30.5%
FY24 Q2 31.0%
FY24 Q3 29.4%
FY24 Q4 27.2%
FY25 Q1 23.2%
FY25 Q2 19.3%
FY25 Q3 16.3%
FY25 Q4 13.0%
FY26 Q1 12.0%
FY26 Q2 12.8%
Operating margin (TTM) Freshpet, Inc.
-10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -6.6% Operating margin (TTM), FY23 Q4: -4.0% Operating margin (TTM), FY24 Q1: -0.1% Operating margin (TTM), FY24 Q2: 1.7% Operating margin (TTM), FY24 Q3: 3.6% Operating margin (TTM), FY24 Q4: 3.9% Operating margin (TTM), FY25 Q1: 1.8% Operating margin (TTM), FY25 Q2: 3.6% Operating margin (TTM), FY25 Q3: 4.7% Operating margin (TTM), FY25 Q4: 6.9% Operating margin (TTM), FY26 Q1: 8.1% Operating margin (TTM), FY26 Q2: 8.1% 8.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -6.6%
FY23 Q4 -4.0%
FY24 Q1 -0.1%
FY24 Q2 1.7%
FY24 Q3 3.6%
FY24 Q4 3.9%
FY25 Q1 1.8%
FY25 Q2 3.6%
FY25 Q3 4.7%
FY25 Q4 6.9%
FY26 Q1 8.1%
FY26 Q2 8.1%
FCF margin (TTM) Freshpet, Inc.
-30% -20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -24.4% FCF margin (TTM), FY23 Q4: -21.3% FCF margin (TTM), FY24 Q1: -16.1% FCF margin (TTM), FY24 Q2: -12.3% FCF margin (TTM), FY24 Q3: -7.0% FCF margin (TTM), FY24 Q4: -3.4% FCF margin (TTM), FY25 Q1: -1.3% FCF margin (TTM), FY25 Q2: -0.7% FCF margin (TTM), FY25 Q3: 0.2% FCF margin (TTM), FY25 Q4: 1.1% FCF margin (TTM), FY26 Q1: 4.1% FCF margin (TTM), FY26 Q2: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 -24.4%
FY23 Q4 -21.3%
FY24 Q1 -16.1%
FY24 Q2 -12.3%
FY24 Q3 -7.0%
FY24 Q4 -3.4%
FY25 Q1 -1.3%
FY25 Q2 -0.7%
FY25 Q3 0.2%
FY25 Q4 1.1%
FY26 Q1 4.1%
FY26 Q2 5.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Freshpet took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $1.1B
  2. Other income $63.5M · 5.8%
  3. Cost of revenue $652M · 59.2%
  4. Gross profit $450M · 40.8%
  5. Selling, general and admin $374M · 33.9%
  6. Operating income $75.7M · 6.9%
  7. Net income $139M · 12.6%

Shares of revenue. Source: Freshpet's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 44 63 87 116 130 152 193 246 319 425 595 767 975 1,102 1,177
Gross profit 21 27 42 55 60 72 90 114 133 162 186 251 396 450 487
EBITDA −10 −6 0 4 8 10 9 15 19 5 −18 28 107 162 189
Operating income −15 −12 −6 −4 −2 −3 −5 −0 −2 −25 −52 −30 38 76 95
Net income −19 −22 −37 −4 −3 −4 −5 −1 −3 −30 −59 −34 47 139 203
Diluted EPS −$2.56 −$2.91 −$9.63 −$0.11 −$0.09 −$0.12 −$0.15 −$0.04 −$0.08 −$0.69 −$1.29 −$0.70 $0.93 $2.64 $3.43
Growth (year on year)
Revenue — +45.1% +37.4% +33.9% +11.6% +17.5% +26.8% +27.2% +29.7% +33.5% +39.9% +28.8% +27.2% +13.0% +12.8%
EBITDA — — — — +95.4% +29.6% −10.3% +72.2% +22.5% −74.5% — — +287.8% +50.8% +64.6%
Operating income — — — — — — — — — — — — — +99.1% +153.8%
Net income — — — — — — — — — — — — — +196.5% +504.2%
Diluted EPS — — — — — — — — — — — — — +183.9% +413.4%
Margins
Gross margin 47.4% 43.1% 48.7% 47.0% 46.5% 47.5% 46.6% 46.4% 41.7% 38.1% 31.2% 32.7% 40.6% 40.8% 41.4%
EBITDA margin −23.0% −10.2% 0.4% 3.4% 5.9% 6.5% 4.6% 6.2% 5.9% 1.1% −3.0% 3.6% 11.0% 14.7% 16.0%
Operating margin −33.9% −19.6% −7.0% −3.1% −1.7% −1.8% −2.5% −0.1% −0.6% −5.8% −8.7% −4.0% 3.9% 6.9% 8.1%
Net margin −42.9% −34.3% −43.0% −3.2% −2.4% −2.8% −2.8% −0.6% −1.0% −7.0% −10.0% −4.4% 4.8% 12.6% 17.3%
Free-cash-flow margin −80.7% −56.8% −29.0% −17.5% −13.2% −1.8% 1.2% −22.1% −35.6% −75.5% −45.9% −21.3% −3.4% 1.1% 5.2%
Cash flow
Cash from operations −9 −11 −8 7 13 10 19 16 21 1 −43 76 154 161 207
Capital spending 26 25 17 27 30 13 16 71 135 322 230 239 187 148 146
Free cash flow −35 −36 −25 −20 −17 −3 2 −54 −113 −321 −273 −163 −33 12 61
Stock-based pay 1 1 2 4 4 4 7 8 11 25 26 25 52 14 14
Free cash flow after stock pay −36 −37 −27 −24 −21 −7 −5 −62 −124 −346 −299 −188 −85 −2 47
Balance sheet
Cash 2 2 36 8 4 2 8 9 67 73 133 297 269 278 351
Total debt 0 75 0 0 7 0 0 — 0 0 0 393 395 397 398
Net debt (negative = net cash) −2 73 −36 −8 3 −2 −8 −9 −67 −73 −133 96 127 119 48
Diluted shares 10m 10m 14m 33m 34m 34m 35m 36m 40m 43m 46m 48m 50m 56m 59m
Returned to shareholders
Buybacks — — — — — — 0 — — — — — — — —
Total returned — — — — — — 0 — — — — — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · June 30, 2026
What it owns · $1.8bn
Short-term assets $517mLonger-term assets $1.3bn
What it owes, and who funded it · $1.8bn
Short-term liabilities $86mLonger-term liabilities $489mShareholders' equity $1.2bn
  • Short-term assets cover short-term liabilities $517m of assets due within a year against $86m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $517m short-term assets against $489m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $95m against $14m of interest.

From Freshpet, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+17.7%
year over year
Sales & admin spending
33.3%
of revenue
Days sales outstanding
20 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in packaged foods & meats
Last 12 months unless stated FRPT JBSS HAIN SMPL UTZ JJSF Median
Revenue, last 12 months $1.2bn $1.2bn $1.4bn $1.4bn $1.5bn $1.5bn $1.5bn
Revenue growth, last 12 months 12.8% 3.1% −13.2% −6.5% 2.0% −4.7% 2.1%
Revenue growth, 3-year average 20.8% 5.9% −9.0% 3.0% 0.5% 0.2% 1.5%
Revenue growth, latest quarter 15.5% −3.5% −27.6% −9.7% 1.4% −6.2% −1.8%
Gross margin 41.4% 17.7% 20.1% 32.6% 25.4% 31.3% 25.6%
Operating margin 8.1% 7.0% −15.0% −13.2% 0.7% 3.9% 3.1%
Operating margin, 3-year average 4.5% 7.5% −15.2% 4.4% 2.2% 6.2% 4.8%
Net margin 17.3% 4.8% −22.5% −11.5% −2.0% 3.2% 2.1%
Cash from operations / revenue 17.6% 8.8% 5.8% 13.3% 8.0% 10.9% 8.0%
Free-cash-flow margin 5.2% 2.6% 4.3% 11.6% 3.5% 6.0% 3.9%
Free-cash-flow margin, 3-year average −2.6% 2.2% 2.9% 12.7% 1.0% 5.7% 5.7%
Stock pay / revenue 1.2% 0.3% 0.4% 1.3% 1.2% 0.4% 0.6%
Change in share count 17.7% 0.6% 0.7% −9.0% 0.6% −2.0% 0.0%

Median of all 44 companies we cover in packaged foods & meats. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 packaged foods & meats companies
Measure Company Peer median Rank
Revenue growth Growth 12.8% 2.2% 10 of 44
Change in growth rate Growth +0.8pp -1.0pp 14 of 44
Gross margin Profitability 41.4% 25.6% 5 of 43
Operating margin Profitability 8.1% 3.4% 10 of 42
Net margin Profitability 17.3% 2.3% 3 of 44
Free-cash-flow margin Cash generation 5.2% 4.3% 21 of 43
Stock pay as % of revenue Cash generation 1.2% 0.6% 28 of 39
Change in share count Balance sheet 17.7% 0.1% 39 of 40
Days sales outstanding Balance sheet 20 days 33 days 5 of 35

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$3.8B
Institutions reporting
315
Shares held vs prior quarter
▲ 4.6%
Positions opened / closed
46 / 58

Top buyers and sellers, Q2 2026: 154 institutions bought and 183 sold ; the biggest buyer was Marshall Wace, LLP (+556K shares) and the biggest seller Wasatch Advisors LP (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $348M 5.9M 9.3% ▲ 0.2%
Capital World Investors $180M 3.0M 4.8% ▲ 2.0%
Vanguard Portfolio Management LLC $174M 2.9M 4.6% ▲ 3.7%
Wellington Management Group LLP $167M 2.8M 4.5% ▲ 11.8%
Wasatch Advisors LP $167M 2.8M 4.4% ▼ 31.9%
Vanguard Capital Management LLC $132M 2.2M 3.5% ▲ 1.6%
Bank Of Montreal $117M 2.0M 3.1% ▲ 6.3%
Alliancebernstein L.P. $111M 1.9M 2.9% ▲ 21.2%
William Blair Investment Management, LLC $107M 1.8M 2.9% ▼ 0.1%
State Street Corp $94.8M 1.6M 2.5% ▲ 3.5%
Ilex Capital Partners (UK) LLP $91.1M 1.5M 2.4% ▼ 2.9%
Alberta Investment Management Corp $85.3M 1.4M 2.3% ▲ 45.2%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Freshpet, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $572,944 10 trades by 6 insiders, last 12 months Insider sales History → $37M 65 trades by 2 insiders · 90% under pre-set plans
Net ▼ $36.5M net selling
Insider Date Trade Shares Price Value
George Walter N. Director September 14, 2026 Buy 1,000 $64.92 $64,920
Cyr William B. Chief Executive Officer August 26, 2026 Sell pre-set plan 568 $75.40 $42,827
Cyr William B. Chief Executive Officer August 26, 2026 Sell pre-set plan 37,007 $74.67 $2.8M
Cyr William B. Chief Executive Officer August 26, 2026 Sell pre-set plan 979 $75.40 $73,817
Cyr William B. Chief Executive Officer August 26, 2026 Sell pre-set plan 1,110 $75.40 $83,694
Cyr William B. Chief Executive Officer August 24, 2026 Sell pre-set plan 1,250 $74.03 $92,538
Cyr William B. Chief Executive Officer August 24, 2026 Sell pre-set plan 1,105 $74.03 $81,803
Cyr William B. Chief Executive Officer August 24, 2026 Sell pre-set plan 640 $74.03 $47,379
Cyr William B. Chief Executive Officer August 24, 2026 Sell pre-set plan 567 $74.03 $41,975
Cyr William B. Chief Executive Officer August 24, 2026 Sell pre-set plan 40,398 $76.01 $3.1M
Cyr William B. Chief Executive Officer August 21, 2026 Sell pre-set plan 1,102 $74.34 $81,923
Cyr William B. Chief Executive Officer August 21, 2026 Sell pre-set plan 1,247 $74.34 $92,702

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 5, 2026
  • May 6, 2026
  • February 23, 2026
  • November 3, 2025
  • August 4, 2025
  • May 5, 2025

Recent SEC filings

Data status

When each part of this page on Freshpet, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Freshpet, Inc. in brief

What does Freshpet, Inc. do?
Freshpet, Inc. is a US-listed company in the packaged foods & meats industry. Its financial year ends in December.
What is Freshpet, Inc.'s stock ticker?
Freshpet, Inc. trades under the ticker FRPT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Freshpet, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Freshpet, Inc. reported revenue of $1.2B, 12.8% higher than a year earlier, according to its SEC filings.
What is Freshpet, Inc.'s free cash flow?
Freshpet, Inc.'s free-cash-flow margin is 5.2% of revenue over the trailing twelve months, ranking 21 of the 43 packaged foods & meats companies we cover.
Who are Freshpet, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Capital World Investors and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Freshpet, Inc.'s market cap?
On November 2, 2026, Freshpet, Inc.'s market capitalisation was about $4.1B, with a price-to-earnings ratio of 20.3 and net debt of $47.6M. Market figures come from third-party market data and may be delayed.
Who are Freshpet, Inc.'s competitors?
In our Packaged Foods & Meats peer group, the companies closest to Freshpet, Inc. are Sanfilippo John B & SON Inc, Hain Celestial Group Inc, Simply Good Foods Co, Utz Brands, Inc. and J&J Snack Foods Corp. The side-by-side comparison below sets their revenue, margins and growth against Freshpet, Inc.'s.
Are insiders buying or selling Freshpet, Inc. stock?
Over the last 12 months, Freshpet, Inc.'s directors and officers reported 10 open-market purchases and 65 sales on Form 4. The insider trading page charts every trade.
When is Freshpet, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Freshpet, Inc. announces its own schedule.