Recent News
Jul 1, 2025 — Premier Protein launched a new Almondmilk Protein Shakes line. Jul 8, 2025 — BellRing scheduled its Q3 fiscal 2025 conference call for Aug 5. Jul 28, 2025 — Premier Protein partnered with Milk Bar to introduce a “Power Hour” protein menu. Aug 4, 2025 — BellRing reported Q3 (ended Jun 30) results, narrowed fiscal 2025 net sales guidance to $2.28–$2.32 billion and Adjusted EBITDA guidance to $480–$490 million. Sep 2, 2025 — Company authorized a $400 million share repurchase program. Aug–Sep 2025 — Multiple plaintiff law firms announced inquiries or investigations related to BellRing disclosures and retailer destocking commentary.
Technical Analysis
ADX / DI+/DI-: ADX at 40.98 signals a very strong trend presence. DI+ exhibited a peak-and-reversal, a bearish directional signal, while DI- is decreasing, which reads as a bullish directional response; the combination indicates trend strength with recent directional conflict that favors trend reversal toward buyers if DI- continues lower.
MACD: MACD stands at -2.26 with the MACD line above the signal line (-2.47), producing a bullish MACD cross despite negative absolute values; momentum appears to be shifting from prior weakness toward constructive momentum.
MRO (Momentum/Regression Oscillator): MRO at -32.06 with a dip-and-reversal indicates price sits below the model target and shows potential for upward pressure as price reverts toward the target level.
RSI: RSI at 35.96 with a peak-and-reversal indicates the oscillator moved down from a recent high; the reading lies near oversold territory and supports potential short-term rebound rather than continued sharp weakness.
Price vs Moving Averages & Bands: Price closed $36.00, below the 50-day average $44.62 and far below the 200-day average $63.98, while the 20-day average sits near $38.06. Price trades inside the lower Bollinger band range (1x lower $35.38; 2x lower $32.70), suggesting short-term compression with potential mean reversion toward the 20-day average if momentum confirms.
Volume & Volatility: Daily volume near the 10-day and 50-day averages and a 42-day beta of 1.71 indicate above-market short-term volatility; this amplifies the impact of any directional push while the ADX shows trend strength.
Fundamental Analysis
Topline & Margins: Total revenue $547,500,000. YoY revenue growth registered -6.888% and quarter-over-quarter revenue change equates to -166.615% as reported; gross margin measured 35.361% while operating (EBIT) margin equals 8.183% ($44,800,000 operating income). Operating margin declined QoQ by -49.403% and declined YoY by -62.208%.
Profitability & EPS: Net income totaled $21,000,000 and EPS actual $0.55 versus estimate $0.50, an EPS surprise of +10.0%. Earnings growth on the most recent measure shows 3.774% year-over-year; however, sequential earnings metrics indicate contraction with earnings growth QoQ at -143.777%.
Cash Flow & Liquidity: Operating cash flow $40,300,000; free cash flow $38,500,000 with free cash flow yield roughly 0.591%. Cash and short-term investments total $43,700,000; current ratio stands at 2.55 and quick ratio at 1.12, both above the industry peer mean current-ratio comparator of 1.79394, indicating adequate near-term liquidity.
Leverage & Coverage: Total debt $1,009,000,000 and net debt $965,300,000 produce a debt/EBITDA multiple of 20.43x and enterprise multiple ~151.32. Interest coverage sits at 2.43x. Total equity registers negative at -$309,900,000, producing a negative book value and a negative P/B ratio (-21.01) versus the industry peer mean P/B ~2.29; negative equity reflects leverage and accumulated deficits.
Efficiency & Working Capital: Asset turnover ~0.5641. Cash conversion cycle measures ~101.42 days and increased YoY; inventory $415,600,000 with inventory turnover ~0.884x, which contracted YoY and implies slower inventory velocity.
Valuation Snapshot: PE ratio ~109.90x, forward PE ~123.42x, P/S ~11.89x, enterprise value ~$7,475,418,720 and market capitalization ~$6,510,118,720. WMDST values the stock as under-valued in the present context; valuation metrics reflect elevated multiples paired with negative equity and high leverage that compress comparables despite recent top-line momentum.
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 | $ 44.2 M |
| Operating Cash Flow | $ 40.3 M | |
| Capital Expenditures | $ -1.80 M | |
| Change In Working Capital | $ 28.9 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 10.7 M | |
| End Period Cash Flow | $ 54.9 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 547.5 M | |
| Forward Revenue | $ 442.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 353.9 M | |
| Depreciation | $ 300.0 K | |
| Depreciation and Amortization | $ 4.6 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 502.7 M | |
| PROFITABILITY | ||
| Gross Profit | $ 193.6 M | |
| EBITDA | $ 49.4 M | |
| EBIT | $ 44.8 M | |
| Operating Income | $ 44.8 M | |
| Interest Income | — | |
| Interest Expense | $ 18.4 M | |
| Net Interest Income | $ -18.40 M | |
| Income Before Tax | $ 26.4 M | |
| Tax Provision | $ 5.4 M | |
| Tax Rate | 20.454 % | |
| Net Income | $ 21.0 M | |
| Net Income From Continuing Operations | $ 21.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.50 | |
| EPS Actual | $ 0.55 | |
| EPS Difference | $ 0.05 | |
| EPS Surprise | 10.0 % | |
| Forward EPS | $ 0.53 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 993.7 M | |
| Intangible Assets | $ 195.1 M | |
| Net Tangible Assets | $ -505.00 M | |
| Total Current Assets | $ 739.4 M | |
| Cash and Short-Term Investments | $ 43.7 M | |
| Cash | $ 43.7 M | |
| Net Receivables | $ 243.9 M | |
| Inventory | $ 415.6 M | |
| Long-Term Investments | $ 13.7 M | |
| LIABILITIES | ||
| Accounts Payable | $ 126.0 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 290.4 M | |
| Net Debt | $ 965.3 M | |
| Total Debt | $ 1.0 B | |
| Total Liabilities | $ 1.3 B | |
| EQUITY | ||
| Total Equity | $ -309.90 M | |
| Retained Earnings | $ 213.0 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ -2.41 | |
| Shares Outstanding | 128.800 M | |
| Revenue Per-Share | $ 4.25 | |
| VALUATION | Market Capitalization | $ 6.5 B |
| Enterprise Value | $ 7.5 B | |
| Enterprise Multiple | 151.324 | |
| Enterprise Multiple QoQ | 44.749 % | |
| Enterprise Multiple YoY | 121.177 % | |
| Enterprise Multiple IPRWA | BRBR: 151.324 high: 92.633 median: 41.561 mean: 31.229 low: -185.821 |
|
| EV/R | 13.654 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | -3.207 | |
| Asset To Liability | 0.762 | |
| Debt To Capital | 1.443 | |
| Debt To Assets | 1.015 | |
| Debt To Assets QoQ | 0.88 % | |
| Debt To Assets YoY | -1.948 % | |
| Debt To Assets IPRWA | BRBR: 1.015 high: 0.694 median: 0.442 mean: 0.385 low: 0.006 |
|
| Debt To Equity | -3.256 | |
| Debt To Equity QoQ | -13.251 % | |
| Debt To Equity YoY | -4.908 % | |
| Debt To Equity IPRWA | high: 2.481 mean: 0.983 median: 0.914 low: -1.897 BRBR: -3.256 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | -21.007 | |
| Price To Book QoQ | -43.795 % | |
| Price To Book YoY | -28.944 % | |
| Price To Book IPRWA | high: 9.87 mean: 2.292 median: 1.959 low: -0.531 BRBR: -21.007 |
|
| Price To Earnings (P/E) | 109.902 | |
| Price To Earnings QoQ | -21.006 % | |
| Price To Earnings YoY | 8.331 % | |
| Price To Earnings IPRWA | high: 440.767 BRBR: 109.902 mean: 96.668 median: 50.346 low: -223.641 |
|
| PE/G Ratio | 29.121 | |
| Price To Sales (P/S) | 11.891 | |
| Price To Sales QoQ | -26.382 % | |
| Price To Sales YoY | -14.765 % | |
| Price To Sales IPRWA | high: 13.184 BRBR: 11.891 mean: 4.809 median: 4.428 low: 0.38 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 123.419 | |
| Forward PE/G | 32.702 | |
| Forward P/S | 14.701 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 7.679 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.564 | |
| Asset Turnover Ratio QoQ | -12.093 % | |
| Asset Turnover Ratio YoY | -14.135 % | |
| Asset Turnover Ratio IPRWA | high: 0.858 BRBR: 0.564 mean: 0.197 median: 0.161 low: 0.033 |
|
| Receivables Turnover | 2.147 | |
| Receivables Turnover Ratio QoQ | -11.179 % | |
| Receivables Turnover Ratio YoY | -4.147 % | |
| Receivables Turnover Ratio IPRWA | high: 5.06 median: 3.367 mean: 3.222 BRBR: 2.147 low: 1.798 |
|
| Inventory Turnover | 0.884 | |
| Inventory Turnover Ratio QoQ | -18.526 % | |
| Inventory Turnover Ratio YoY | -41.368 % | |
| Inventory Turnover Ratio IPRWA | high: 3.108 mean: 1.426 median: 1.353 BRBR: 0.884 low: 0.095 |
|
| Days Sales Outstanding (DSO) | 42.492 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 101.419 | |
| Cash Conversion Cycle Days QoQ | 0.336 % | |
| Cash Conversion Cycle Days YoY | 43.694 % | |
| Cash Conversion Cycle Days IPRWA | high: 180.514 BRBR: 101.419 mean: 47.771 median: 46.105 low: -114.3 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.219 | |
| CapEx To Revenue | -0.003 | |
| CapEx To Depreciation | -6.0 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 699.1 M | |
| Net Invested Capital | $ 699.1 M | |
| Invested Capital | $ 699.1 M | |
| Net Tangible Assets | $ -505.00 M | |
| Net Working Capital | $ 449.0 M | |
| LIQUIDITY | ||
| Cash Ratio | 0.15 | |
| Current Ratio | 2.546 | |
| Current Ratio QoQ | -12.788 % | |
| Current Ratio YoY | -4.485 % | |
| Current Ratio IPRWA | high: 4.98 BRBR: 2.546 mean: 1.794 median: 1.5 low: 0.437 |
|
| Quick Ratio | 1.115 | |
| Quick Ratio QoQ | -16.571 % | |
| Quick Ratio YoY | -26.735 % | |
| Quick Ratio IPRWA | high: 3.749 BRBR: 1.115 mean: 1.051 median: 0.676 low: 0.327 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 20.425 | |
| Cost Of Debt | 1.491 % | |
| Interest Coverage Ratio | 2.435 | |
| Interest Coverage Ratio QoQ | -57.756 % | |
| Interest Coverage Ratio YoY | -68.583 % | |
| Interest Coverage Ratio IPRWA | high: 50.631 BRBR: 2.435 median: 1.965 mean: 1.613 low: -50.344 |
|
| Operating Cash Flow Ratio | -0.059 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 32.838 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.876 % | |
| Revenue Growth | -6.888 % | |
| Revenue Growth QoQ | -166.615 % | |
| Revenue Growth YoY | -263.805 % | |
| Revenue Growth IPRWA | high: 27.575 % mean: 1.573 % median: 0.547 % BRBR: -6.888 % low: -25.056 % |
|
| Earnings Growth | 3.774 % | |
| Earnings Growth QoQ | -143.777 % | |
| Earnings Growth YoY | -81.13 % | |
| Earnings Growth IPRWA | high: 277.778 % BRBR: 3.774 % mean: -0.516 % median: -11.494 % low: -181.818 % |
|
| MARGINS | ||
| Gross Margin | 35.361 % | |
| Gross Margin QoQ | 9.548 % | |
| Gross Margin YoY | -4.028 % | |
| Gross Margin IPRWA | high: 44.925 % BRBR: 35.361 % median: 29.414 % mean: 27.99 % low: -6.987 % |
|
| EBIT Margin | 8.183 % | |
| EBIT Margin QoQ | -49.403 % | |
| EBIT Margin YoY | -62.208 % | |
| EBIT Margin IPRWA | high: 15.656 % BRBR: 8.183 % median: 7.557 % mean: 2.814 % low: -76.082 % |
|
| Return On Sales (ROS) | 8.183 % | |
| Return On Sales QoQ | -49.403 % | |
| Return On Sales YoY | -62.208 % | |
| Return On Sales IPRWA | high: 15.571 % BRBR: 8.183 % median: 6.726 % mean: 2.636 % low: -75.884 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 38.5 M | |
| Free Cash Flow Yield | 0.591 % | |
| Free Cash Flow Yield QoQ | 17.964 % | |
| Free Cash Flow Yield YoY | -38.309 % | |
| Free Cash Flow Yield IPRWA | high: 19.943 % median: 1.495 % mean: 1.443 % BRBR: 0.591 % low: -15.373 % |
|
| Free Cash Growth | -19.118 % | |
| Free Cash Growth QoQ | -100.708 % | |
| Free Cash Growth YoY | -105.782 % | |
| Free Cash Growth IPRWA | high: 381.156 % mean: -15.308 % BRBR: -19.118 % median: -45.736 % low: -687.742 % |
|
| Free Cash To Net Income | 1.833 | |
| Cash Flow Margin | -3.142 % | |
| Cash Flow To Earnings | -0.819 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 2.164 % | |
| Return On Assets QoQ | -66.219 % | |
| Return On Assets YoY | -76.964 % | |
| Return On Assets IPRWA | high: 3.193 % BRBR: 2.164 % median: 0.832 % mean: 0.241 % low: -10.62 % |
|
| Return On Capital Employed (ROCE) | 6.37 % | |
| Return On Equity (ROE) | -0.068 | |
| Return On Equity QoQ | -70.668 % | |
| Return On Equity YoY | -77.64 % | |
| Return On Equity IPRWA | high: 0.069 median: 0.021 mean: 0.004 BRBR: -0.068 low: -0.147 |
|
| DuPont ROE | -7.447 % | |
| Return On Invested Capital (ROIC) | 5.097 % | |
| Return On Invested Capital QoQ | -49.793 % | |
| Return On Invested Capital YoY | -54.201 % | |
| Return On Invested Capital IPRWA | BRBR: 5.097 % high: 4.595 % median: 1.549 % mean: 1.171 % low: -5.111 % |
|