Ferrellgas Partn Financials

FGPRB

Source SEC Filings (10-K/10-Q) Updated Jan 31, 2026 Currency USD FYE July

This page shows Ferrellgas Partn (FGPRB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI FGPRB FY2025 2026-04-22

Overhead expansion and a debt-heavy balance sheet turned a modest sales recovery into thin profit, weaker resilience, and constrained cash flexibility.

Sales recovery reached $1.94B, so the profit squeeze was not mainly a demand problem or unit-volume collapse. Operating margin still fell to 4.7% as SG&A swelled to $178.6M after running much lower before, showing a cost-structure reset rather than a simple sales slowdown.

The net loss of -$15.6M overstates the operating strain, because operating cash flow stayed positive at $136.3M; non-cash charges kept cash generation ahead of accounting profit. But free cash flow remained modest after reinvestment, which means much of that cash still has a job in maintenance spending before it becomes truly flexible.

With long-term debt at $1.45B against total assets of $1.38B, borrowing is doing most of the balance-sheet heavy lifting for this company. Cash reserves of just $28.4M and a current ratio near 1.0x suggest day-to-day liquidity is adequate for normal operations, but not roomy.

Financial Health Signals

Financial Profile 21/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Ferrellgas Partn's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Ferrellgas Partn has an operating margin of 4.7%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 40/100, indicating healthy but not exceptional operating efficiency. This is down from 11.2% the prior year.

Growth

Ferrellgas Partn's revenue grew 5.5% year-over-year to $1.9B, a solid pace of expansion. This earns a growth score of 30/100.

Liquidity

Ferrellgas Partn's current ratio of 1.04 is below the typical benchmark, resulting in a score of 16/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Cash Flow

Ferrellgas Partn has a free cash flow margin of 2.9%, earning a moderate score of 39/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Neutral

4/9

Ferrellgas Partn passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-8.76x

For every $1 of reported earnings, Ferrellgas Partn generates $-8.76 in operating cash flow ($136.3M OCF vs -$15.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

0.8x

Ferrellgas Partn earns $0.8 in operating income for every $1 of interest expense ($90.1M vs $108.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.9B

YoY+5.5%

5Y CAGR+5.3%

10Y CAGR-0.4%

Ferrellgas Partn generated $1.9B in revenue in fiscal year 2025. This represents an increase of 5.5% from the prior year.

EBITDA

$188.5M

YoY-37.9%

5Y CAGR-3.8%

10Y CAGR-1.9%

Ferrellgas Partn's EBITDA was $188.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 37.9% from the prior year.

Net Income

-$15.6M

YoY-114.1%

Ferrellgas Partn reported -$15.6M in net income in fiscal year 2025. This represents a decrease of 114.1% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$56.3M

YoY-67.8%

5Y CAGR-1.2%

10Y CAGR-8.1%

Ferrellgas Partn generated $56.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 67.8% from the prior year.

Cash & Debt

$28.4M

YoY-23.3%

5Y CAGR-32.5%

10Y CAGR+12.3%

Ferrellgas Partn held $28.4M in cash against $1.5B in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

4.7%

YoY-6.5pp

5Y CAGR-5.3pp

10Y CAGR-1.8pp

Ferrellgas Partn's operating margin was 4.7% in fiscal year 2025, reflecting core business profitability. This is down 6.5 percentage points from the prior year.

Net Margin

-0.8%

YoY-6.8pp

5Y CAGR+4.7pp

10Y CAGR-2.3pp

Ferrellgas Partn's net profit margin was -0.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 6.8 percentage points from the prior year.

Return on Equity

N/A

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$80.0M

YoY+12.9%

5Y CAGR+2.6%

10Y CAGR+1.0%

Ferrellgas Partn invested $80.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 12.9% from the prior year.

FGPRB Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.9B+5.5%	$1.8B-9.3%	$2.0B-4.2%	$2.1B+20.5%	$1.8B+17.1%	$1.5B
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$178.6M+254.8%	$50.3M-28.8%	$70.7M+34.0%	$52.8M-12.1%	$60.1M+31.3%	$45.8M
Operating Income	$90.1M-56.1%	$205.1M-12.2%	$233.7M-4.7%	$245.1M+13.3%	$216.3M+45.5%	$148.7M
Interest Expense	$108.1M+10.0%	$98.2M+0.5%	$97.7M-2.4%	$100.1M-42.3%	$173.6M-10.0%	$193.0M
Income Tax	$1.4M+100.0%	$686K-30.1%	$981K0.0%	$981K+32.4%	$741K-12.9%	$851K
Net Income	-$15.6M-114.1%	$110.2M-19.5%	$136.9M-7.5%	$148.0M+316.3%	-$68.4M+17.1%	-$82.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Revenue	$641.4M+80.6%	$355.2M+3.4%	$343.6M-38.7%	$560.8M-16.3%	$669.8M+84.0%	$364.1M+6.9%	$340.5M-34.0%	$515.8M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$11.7M-2.8%	$12.0M+6.7%	$11.3M-11.5%	$12.7M-23.9%	$16.7M-87.9%	$137.9M+1865.3%	$7.0M-47.3%	$13.3M
Operating Income	$136.2M+7169.7%	$1.9M+199.2%	-$1.9M-102.2%	$87.3M-31.6%	$127.6M+203.8%	-$122.9M-4413.2%	$2.9M-96.3%	$76.7M
Interest Expense	$33.2M+24.5%	$26.7M+2.7%	$25.9M-7.8%	$28.1M+0.9%	$27.9M+6.9%	$26.1M+4.2%	$25.0M+1.3%	$24.7M
Income Tax	$330K+98.8%	$166K-61.3%	$429K+13.5%	$378K-1.8%	$385K+113.9%	$180K+820.0%	-$25K-110.4%	$240K
Net Income	$102.2M+479.5%	-$26.9M-0.3%	-$26.8M-145.4%	$59.1M-40.2%	$98.8M+167.4%	-$146.7M-605.7%	-$20.8M-139.4%	$52.8M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FGPRB Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.4B-2.5%	$1.4B-4.0%	$1.5B-4.3%	$1.5B-13.5%	$1.8B+7.5%	$1.7B
Current Assets	$299.3M-11.7%	$338.8M-11.5%	$382.6M-10.5%	$427.6M-34.5%	$652.6M+21.3%	$538.1M
Cash & Equivalents	$28.4M-23.3%	$37.0M-43.9%	$66.0M+49.4%	$44.2M-71.9%	$157.4M-22.3%	$202.6M
Inventory	$91.9M-9.1%	$101.1M-4.5%	$105.8M-11.9%	$120.1M-8.5%	$131.3M+66.2%	$79.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$257.2M0.0%	$257.2M+0.1%	$257.0M0.0%	$257.0M+2.4%	$251.1M+1.7%	$246.9M
Total Liabilities	N/A	N/A	N/A	N/A	N/A	$2.9B
Current Liabilities	$289.0M-19.1%	$357.1M+43.6%	$248.7M-20.1%	$311.4M-20.2%	$390.2M-65.1%	$1.1B
Long-Term Debt	$1.5B-0.6%	$1.5B+0.4%	$1.5B+0.3%	$1.5B+0.3%	$1.4B-12.2%	$1.6B
Total Equity	N/A	N/A	N/A	N/A	N/A	-$1.2B
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Total Assets	$1.5B+12.0%	$1.4B-2.7%	$1.4B-5.3%	$1.5B-1.5%	$1.5B+7.4%	$1.4B-3.1%	$1.5B-1.9%	$1.5B
Current Assets	$453.5M+51.5%	$299.3M-12.7%	$342.7M-16.1%	$408.3M-7.1%	$439.6M+29.8%	$338.8M-9.7%	$375.2M-0.4%	$376.8M
Cash & Equivalents	$88.4M+211.4%	$28.4M-70.7%	$96.9M-11.4%	$109.3M+177.4%	$39.4M+6.5%	$37.0M-67.4%	$113.5M+80.5%	$62.9M
Inventory	$85.5M-6.9%	$91.9M+4.6%	$87.8M+2.0%	$86.1M-17.7%	$104.6M+3.5%	$101.1M+5.2%	$96.0M+5.2%	$91.3M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$257.2M0.0%	$257.2M0.0%	$257.2M0.0%	$257.2M0.0%	$257.2M0.0%	$257.2M+0.1%	$257.0M0.0%	$257.0M
Total Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Current Liabilities	$350.8M+21.4%	$289.0M-68.4%	$914.5M-3.5%	$947.8M+160.9%	$363.3M+1.7%	$357.1M+47.1%	$242.8M+6.3%	$228.4M
Long-Term Debt	$1.5B+0.1%	$1.5B+78.2%	$815.5M+0.2%	$814.0M-44.4%	$1.5B+0.1%	$1.5B+0.1%	$1.5B+0.1%	$1.5B
Total Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Retained Earnings	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FGPRB Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$136.3M-44.5%	$245.6M+15.7%	$212.3M+32.3%	$160.5M-22.3%	$206.4M+58.4%	$130.4M
Capital Expenditures	$80.0M+12.9%	$70.9M-20.3%	$88.9M-6.6%	$95.2M+60.2%	$59.4M-15.6%	$70.5M
Free Cash Flow	$56.3M-67.8%	$174.7M+41.6%	$123.3M+89.1%	$65.2M-55.6%	$147.0M+145.4%	$59.9M
Investing Cash Flow	-$80.8M+5.0%	-$85.0M+23.2%	-$110.8M+0.9%	-$111.8M-83.4%	-$61.0M+14.5%	-$71.3M
Financing Cash Flow	-$82.8M+52.3%	-$173.7M-41.4%	-$122.9M+28.5%	-$171.9M+12.9%	-$197.3M-174.8%	$263.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Operating Cash Flow	$40.7M+578.8%	-$8.5M-143.0%	$19.8M-83.3%	$118.0M+258.3%	$32.9M+196.0%	-$34.3M-149.2%	$69.6M-7.6%	$75.4M
Capital Expenditures	$22.5M+3.8%	$21.7M+83.5%	$11.8M-55.4%	$26.5M+34.2%	$19.7M-10.4%	$22.0M+1510.8%	$1.4M-93.8%	$22.1M
Free Cash Flow	$18.2M+160.3%	-$30.2M-480.1%	$7.9M-91.3%	$91.5M+593.2%	$13.2M+123.5%	-$56.3M-182.4%	$68.3M+28.1%	$53.3M
Investing Cash Flow	-$22.0M-3.4%	-$21.3M-94.0%	-$11.0M+57.1%	-$25.6M-33.6%	-$19.1M+23.9%	-$25.1M-2352.1%	-$1.0M+95.2%	-$21.5M
Financing Cash Flow	$41.3M+206.7%	-$38.7M-82.5%	-$21.2M+5.6%	-$22.5M-2.1%	-$22.0M-28.5%	-$17.1M+5.3%	-$18.1M+84.8%	-$119.4M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

FGPRB Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	4.7%-6.5pp	11.2%-0.4pp	11.5%-0.1pp	11.6%-0.7pp	12.3%+2.4pp	9.9%
Net Margin	-0.8%-6.8pp	6.0%-0.8pp	6.8%-0.3pp	7.0%+10.9pp	-3.9%+1.6pp	-5.5%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-1.1%-8.9pp	7.8%-1.5pp	9.3%-0.3pp	9.6%+13.5pp	-3.9%+1.1pp	-5.0%
Current Ratio	1.04+0.1	0.95-0.6	1.54+0.2	1.37-0.3	1.67+1.2	0.48
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	-1.35
FCF Margin	2.9%-6.6pp	9.5%+3.4pp	6.1%+3.0pp	3.1%-5.3pp	8.4%+4.4pp	4.0%

Metric	Q2'26	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	21.2%+20.7pp	0.5%+1.1pp	-0.5%-16.1pp	15.6%-3.5pp	19.1%+52.8pp	-33.8%-34.6pp	0.8%-14.0pp	14.9%
Net Margin	15.9%+23.5pp	-7.6%+0.2pp	-7.8%-18.4pp	10.5%-4.2pp	14.8%+55.0pp	-40.3%-34.2pp	-6.1%-16.3pp	10.2%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	6.6%+8.6pp	-1.9%-0.1pp	-1.9%-5.8pp	4.0%-2.6pp	6.5%+16.9pp	-10.4%-9.0pp	-1.4%-5.0pp	3.5%
Current Ratio	1.29+0.3	1.04+0.7	0.37-0.1	0.43-0.8	1.21+0.3	0.95-0.6	1.55-0.1	1.65
Debt-to-Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
FCF Margin	2.8%+11.3pp	-8.5%-10.8pp	2.3%-14.0pp	16.3%+14.3pp	2.0%+17.4pp	-15.5%-35.5pp	20.1%+9.7pp	10.3%

Frequently Asked Questions

What is Ferrellgas Partn's annual revenue?

Ferrellgas Partn (FGPRB) reported $1.9B in total revenue for fiscal year 2025. This represents a 5.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Ferrellgas Partn's revenue growing?

Ferrellgas Partn (FGPRB) revenue grew by 5.5% year-over-year, from $1.8B to $1.9B in fiscal year 2025.

Is Ferrellgas Partn profitable?

No, Ferrellgas Partn (FGPRB) reported a net income of -$15.6M in fiscal year 2025, with a net profit margin of -0.8%.

What is Ferrellgas Partn's EBITDA?

Ferrellgas Partn (FGPRB) had EBITDA of $188.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Ferrellgas Partn have?

As of fiscal year 2025, Ferrellgas Partn (FGPRB) had $28.4M in cash and equivalents against $1.5B in long-term debt.

What is Ferrellgas Partn's operating margin?

Ferrellgas Partn (FGPRB) had an operating margin of 4.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Ferrellgas Partn's net profit margin?

Ferrellgas Partn (FGPRB) had a net profit margin of -0.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Ferrellgas Partn's free cash flow?

Ferrellgas Partn (FGPRB) generated $56.3M in free cash flow during fiscal year 2025. This represents a -67.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Ferrellgas Partn's operating cash flow?

Ferrellgas Partn (FGPRB) generated $136.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Ferrellgas Partn's total assets?

Ferrellgas Partn (FGPRB) had $1.4B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Ferrellgas Partn's capital expenditures?

Ferrellgas Partn (FGPRB) invested $80.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Ferrellgas Partn's current ratio?

Ferrellgas Partn (FGPRB) had a current ratio of 1.04 as of fiscal year 2025, which is considered adequate.

What is Ferrellgas Partn's return on assets (ROA)?

Ferrellgas Partn (FGPRB) had a return on assets of -1.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Ferrellgas Partn's Piotroski F-Score?

Ferrellgas Partn (FGPRB) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Ferrellgas Partn's earnings high quality?

Ferrellgas Partn (FGPRB) has an earnings quality ratio of -8.76x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Ferrellgas Partn cover its interest payments?

Ferrellgas Partn (FGPRB) has an interest coverage ratio of 0.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Ferrellgas Partn?

Ferrellgas Partn (FGPRB) scores 21 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.