Recent News
On August 4, 2025 Freshpet reported second-quarter 2025 results: $264.7 million in net sales, GAAP net income of $16.4 million, adjusted EBITDA of $44.4 million, and margin expansion versus the prior year.
On June 23, 2025 General Mills announced a fresh Blue Buffalo product launch targeting the refrigerated fresh pet-food segment, directly increasing competitive pressure in the category.
Technical Analysis
ADX at 17.25 indicates no established trend, which limits conviction for sustained directional moves; this context reduces the weight of short-term momentum signals when forming a near-term bias.
DI+ shows a dip & reversal, signaling a bullish shift in directional interest; DI- shows a peak & reversal, which also reads bullish; with ADX subdued, those bullish directional shifts imply only modest near-term directional force.
MACD at -2.8 has undergone a dip & reversal and currently trades above its signal line (-2.95), representing a bullish momentum shift that supports a near-term rebound toward short-term moving averages.
MRO at -37.22 places price below the model target, implying potential upward pressure as the gap narrows; the MRO trend shows a peak & reversal, which indicates recent momentum movement.
RSI at 37.96 with a peak & reversal denotes recent exhaustion of buying strength followed by renewed downward pressure; the reading remains above extreme-oversold territory, leaving room for a technical bounce rather than a capitulation move.
Price sits at $52.12, below the 12-day EMA ($54.33, decreasing) and the 20-day average ($54.17), while the 200-day average at $95.02 lies far above current levels; price has dipped and reversed within the -2x standard deviation Bollinger band, which often precedes short-lived recoveries into the 20-day band.
Ichimoku structure shows the Chikou span below the cloud and the Kijun-Sen at $58.78 above current price, which signals lingering medium-term resistance despite short-term momentum shifts.
Fundamental Analysis
Revenue totaled $264.689 million and revenue growth year-over-year registered -0.89% while quarter-over-quarter revenue growth measured 1.66%, indicating near-flat top-line performance with modest sequential improvement.
EBIT reached $20,003,000 and EBIT margin stood at 7.56%, a QoQ change of -3.19% but a YoY increase of 15.01%. The EBIT margin sits above the industry peer mean (3.07%) and slightly below the industry peer median (8.18%), reflecting stronger margin control than the average peer while remaining close to peer median performance.
Operating margin measured 6.73% with YoY improvement of 13.25% and an operating leverage reading that remains negative, suggesting operating expense variability relative to revenue levels.
EPS arrived at $0.34 versus an estimate of $0.16, producing an earnings surprise of $0.18 and an EPS surprise ratio of 112.5%, highlighting a materially better-than-expected quarterly EPS result relative to consensus.
Cash metrics present strength: cash and short-term investments total $243.684 million, current ratio at 4.81 and quick ratio at 3.75, each above the industry peer mean, which signals ample near-term liquidity. Free cash flow registered $445,000, producing a free cash flow yield near 0.013% and a free-cash-to-net-income ratio of 2.72%.
Capital structure shows total debt of $495.151 million and net debt of $152.553 million; debt-to-equity measured 0.462 and debt-to-EBITDA at 12.19, which indicates leverage relative to earnings remains elevated versus typical operating earnings coverage.
Valuation metrics remain high: P/E at 223.47, P/S at 12.63, price-to-book at 3.12, and an enterprise multiple of 88.54. Each of those measures sits above the industry peer mean where comparable benchmarks exist, while WMDST values the stock as over-valued.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-08-04 |
| NEXT REPORT DATE: | 2025-11-03 |
| CASH FLOW | Begin Period Cash Flow | $ 243.7 M |
| Operating Cash Flow | $ 33.9 M | |
| Capital Expenditures | $ -33.44 M | |
| Change In Working Capital | $ -10.74 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ -48.00 K | |
| End Period Cash Flow | $ 243.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 264.7 M | |
| Forward Revenue | $ 70.1 M | |
| COSTS | ||
| Cost Of Revenue | $ 156.5 M | |
| Depreciation | $ 20.6 M | |
| Depreciation and Amortization | $ 20.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 246.9 M | |
| PROFITABILITY | ||
| Gross Profit | $ 108.2 M | |
| EBITDA | $ 40.6 M | |
| EBIT | $ 20.0 M | |
| Operating Income | $ 17.8 M | |
| Interest Income | $ 2.2 M | |
| Interest Expense | $ 3.7 M | |
| Net Interest Income | $ -1.55 M | |
| Income Before Tax | $ 16.3 M | |
| Tax Provision | $ -102.00 K | |
| Tax Rate | 21.0 % | |
| Net Income | $ 16.4 M | |
| Net Income From Continuing Operations | $ 16.4 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.16 | |
| EPS Actual | $ 0.34 | |
| EPS Difference | $ 0.18 | |
| EPS Surprise | 112.5 % | |
| Forward EPS | $ 0.35 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 1.6 B | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 1.1 B | |
| Total Current Assets | $ 409.2 M | |
| Cash and Short-Term Investments | $ 243.7 M | |
| Cash | $ 243.7 M | |
| Net Receivables | $ 60.4 M | |
| Inventory | $ 90.6 M | |
| Long-Term Investments | $ 35.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 42.8 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 85.0 M | |
| Net Debt | $ 152.6 M | |
| Total Debt | $ 495.2 M | |
| Total Liabilities | $ 575.8 M | |
| EQUITY | ||
| Total Equity | $ 1.1 B | |
| Retained Earnings | $ -278.15 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 21.97 | |
| Shares Outstanding | 48.777 M | |
| Revenue Per-Share | $ 5.43 | |
| VALUATION | Market Capitalization | $ 3.3 B |
| Enterprise Value | $ 3.6 B | |
| Enterprise Multiple | 88.535 | |
| Enterprise Multiple QoQ | -76.521 % | |
| Enterprise Multiple YoY | -71.045 % | |
| Enterprise Multiple IPRWA | high: 151.324 FRPT: 88.535 median: 41.561 mean: 39.147 low: -185.821 |
|
| EV/R | 13.584 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.537 | |
| Asset To Liability | 2.861 | |
| Debt To Capital | 0.316 | |
| Debt To Assets | 0.301 | |
| Debt To Assets QoQ | 8.848 % | |
| Debt To Assets YoY | 7284.521 % | |
| Debt To Assets IPRWA | high: 1.015 mean: 0.444 median: 0.442 FRPT: 0.301 low: 0.006 |
|
| Debt To Equity | 0.462 | |
| Debt To Equity QoQ | 12.643 % | |
| Debt To Equity YoY | 7400.649 % | |
| Debt To Equity IPRWA | high: 2.481 mean: 1.008 median: 0.914 FRPT: 0.462 low: -1.897 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 3.121 | |
| Price To Book QoQ | -28.974 % | |
| Price To Book YoY | -47.442 % | |
| Price To Book IPRWA | high: 9.87 FRPT: 3.121 mean: 2.251 median: 1.959 low: -0.531 |
|
| Price To Earnings (P/E) | 223.472 | |
| Price To Earnings QoQ | -78.725 % | |
| Price To Earnings YoY | -105.497 % | |
| Price To Earnings IPRWA | high: 231.303 FRPT: 223.472 mean: 60.621 median: 50.346 low: -37.814 |
|
| PE/G Ratio | 0.804 | |
| Price To Sales (P/S) | 12.634 | |
| Price To Sales QoQ | -27.869 % | |
| Price To Sales YoY | -49.729 % | |
| Price To Sales IPRWA | high: 13.184 FRPT: 12.634 mean: 5.077 median: 4.428 low: 0.38 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 232.277 | |
| Forward PE/G | 0.836 | |
| Forward P/S | 47.735 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -584.48 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.165 | |
| Asset Turnover Ratio QoQ | -1.732 % | |
| Asset Turnover Ratio YoY | 4.806 % | |
| Asset Turnover Ratio IPRWA | high: 0.858 mean: 0.231 FRPT: 0.165 median: 0.161 low: 0.033 |
|
| Receivables Turnover | 4.303 | |
| Receivables Turnover Ratio QoQ | 7.121 % | |
| Receivables Turnover Ratio YoY | 24.981 % | |
| Receivables Turnover Ratio IPRWA | high: 5.06 FRPT: 4.303 median: 3.367 mean: 3.08 low: 1.798 |
|
| Inventory Turnover | 1.813 | |
| Inventory Turnover Ratio QoQ | -7.424 % | |
| Inventory Turnover Ratio YoY | -6.88 % | |
| Inventory Turnover Ratio IPRWA | high: 3.108 FRPT: 1.813 mean: 1.361 median: 1.171 low: 0.095 |
|
| Days Sales Outstanding (DSO) | 21.207 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 46.105 | |
| Cash Conversion Cycle Days QoQ | -2.193 % | |
| Cash Conversion Cycle Days YoY | -4.314 % | |
| Cash Conversion Cycle Days IPRWA | high: 180.514 median: 58.091 mean: 52.53 FRPT: 46.105 low: -114.3 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.816 | |
| CapEx To Revenue | -0.126 | |
| CapEx To Depreciation | -1.623 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 1.5 B | |
| Net Invested Capital | $ 1.5 B | |
| Invested Capital | $ 1.5 B | |
| Net Tangible Assets | $ 1.1 B | |
| Net Working Capital | $ 324.2 M | |
| LIQUIDITY | ||
| Cash Ratio | 2.868 | |
| Current Ratio | 4.815 | |
| Current Ratio QoQ | -1.925 % | |
| Current Ratio YoY | 6.94 % | |
| Current Ratio IPRWA | high: 4.98 FRPT: 4.815 mean: 1.724 median: 1.5 low: 0.437 |
|
| Quick Ratio | 3.749 | |
| Quick Ratio QoQ | -4.269 % | |
| Quick Ratio YoY | 1.639 % | |
| Quick Ratio IPRWA | FRPT: 3.749 high: 2.461 mean: 0.935 median: 0.893 low: 0.327 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 12.192 | |
| Cost Of Debt | 0.64 % | |
| Interest Coverage Ratio | 5.336 | |
| Interest Coverage Ratio QoQ | -302.721 % | |
| Interest Coverage Ratio YoY | 1221.174 % | |
| Interest Coverage Ratio IPRWA | high: 50.631 FRPT: 5.336 median: 1.965 mean: 1.508 low: -50.344 |
|
| Operating Cash Flow Ratio | 0.362 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 24.486 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 5.675 % | |
| Revenue Growth | 0.547 % | |
| Revenue Growth QoQ | 165.534 % | |
| Revenue Growth YoY | -89.264 % | |
| Revenue Growth IPRWA | high: 27.575 % mean: 0.881 % FRPT: 0.547 % median: -0.95 % low: -25.056 % |
|
| Earnings Growth | 277.778 % | |
| Earnings Growth QoQ | -470.371 % | |
| Earnings Growth YoY | -356.945 % | |
| Earnings Growth IPRWA | FRPT: 277.778 % high: 50.0 % median: -11.494 % mean: -15.397 % low: -181.818 % |
|
| MARGINS | ||
| Gross Margin | 40.874 % | |
| Gross Margin QoQ | 3.673 % | |
| Gross Margin YoY | 2.346 % | |
| Gross Margin IPRWA | high: 44.925 % FRPT: 40.874 % median: 29.414 % mean: 28.056 % low: -6.987 % |
|
| EBIT Margin | 7.557 % | |
| EBIT Margin QoQ | -318.537 % | |
| EBIT Margin YoY | 1501.059 % | |
| EBIT Margin IPRWA | high: 15.656 % median: 8.183 % FRPT: 7.557 % mean: 3.07 % low: -76.082 % |
|
| Return On Sales (ROS) | 6.726 % | |
| Return On Sales QoQ | -294.505 % | |
| Return On Sales YoY | 1325.0 % | |
| Return On Sales IPRWA | high: 15.571 % median: 8.183 % FRPT: 6.726 % mean: 2.937 % low: -75.884 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 445.0 K | |
| Free Cash Flow Yield | 0.013 % | |
| Free Cash Flow Yield QoQ | -102.766 % | |
| Free Cash Flow Yield YoY | -113.0 % | |
| Free Cash Flow Yield IPRWA | high: 19.943 % median: 1.495 % mean: 1.432 % FRPT: 0.013 % low: -15.373 % |
|
| Free Cash Growth | -102.052 % | |
| Free Cash Growth QoQ | -158.431 % | |
| Free Cash Growth YoY | 19.204 % | |
| Free Cash Growth IPRWA | high: 381.156 % mean: -11.349 % median: -19.118 % FRPT: -102.052 % low: -687.742 % |
|
| Free Cash To Net Income | 0.027 | |
| Cash Flow Margin | 11.611 % | |
| Cash Flow To Earnings | 1.879 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 1.02 % | |
| Return On Assets QoQ | -225.926 % | |
| Return On Assets YoY | -1002.655 % | |
| Return On Assets IPRWA | high: 3.193 % FRPT: 1.02 % median: 0.894 % mean: 0.374 % low: -10.62 % |
|
| Return On Capital Employed (ROCE) | 1.28 % | |
| Return On Equity (ROE) | 0.015 | |
| Return On Equity QoQ | -226.116 % | |
| Return On Equity YoY | -997.647 % | |
| Return On Equity IPRWA | high: 0.069 median: 0.021 FRPT: 0.015 mean: -0.003 low: -0.147 |
|
| DuPont ROE | 1.542 % | |
| Return On Invested Capital (ROIC) | 1.077 % | |
| Return On Invested Capital QoQ | -384.921 % | |
| Return On Invested Capital YoY | -401.681 % | |
| Return On Invested Capital IPRWA | high: 5.097 % median: 1.752 % mean: 1.519 % FRPT: 1.077 % low: -5.111 % |
|