Primo Brands Financials
This page shows Primo Brands (PRMB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Primo Brands has an operating margin of 6.5%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 37/100, indicating healthy but not exceptional operating efficiency. This is down from 7.0% the prior year.
Primo Brands's revenue surged 29.3% year-over-year to $6.7B, reflecting rapid business expansion. This strong growth earns a score of 82/100.
Primo Brands carries a low D/E ratio of 1.70, meaning only $1.70 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.
Primo Brands's current ratio of 0.95 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 14/100, which could limit financial flexibility.
Primo Brands has a free cash flow margin of 4.5%, earning a moderate score of 36/100. The company generates positive cash flow after capital investments, but with room for improvement.
Primo Brands generates a 2.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 16/100. This is up from -0.5% the prior year.
Primo Brands scores 1.03, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($6.8B) relative to total liabilities ($7.6B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Primo Brands passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Primo Brands generates $11.32 in operating cash flow ($680.3M OCF vs $60.1M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Primo Brands earns $1.3 in operating income for every $1 of interest expense ($430.4M vs $326.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Primo Brands generated $6.7B in revenue in fiscal year 2025. This represents an increase of 29.3% from the prior year.
Primo Brands's EBITDA was $1.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 50.0% from the prior year.
Primo Brands reported $60.1M in net income in fiscal year 2025. This represents an increase of 466.5% from the prior year.
Primo Brands earned $0.16 per diluted share (EPS) in fiscal year 2025. This represents an increase of 328.6% from the prior year.
Cash & Balance Sheet
Primo Brands generated $302.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 3.4% from the prior year.
Primo Brands held $376.7M in cash against $5.1B in long-term debt as of fiscal year 2025.
Primo Brands paid $0.40 per share in dividends in fiscal year 2025. This represents an increase of 344.4% from the prior year.
Primo Brands had 364M shares outstanding in fiscal year 2025. This represents a decrease of 4.2% from the prior year.
Margins & Returns
Primo Brands's gross margin was 30.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.1 percentage points from the prior year.
Primo Brands's operating margin was 6.5% in fiscal year 2025, reflecting core business profitability. This is down 0.5 percentage points from the prior year.
Primo Brands's net profit margin was 0.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 1.2 percentage points from the prior year.
Primo Brands's ROE was 2.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 2.5 percentage points from the prior year.
Capital Allocation
Primo Brands spent $421.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 3952.9% from the prior year.
Primo Brands invested $377.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 151.3% from the prior year.
PRMB Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.6B-12.0% | $1.8B+2.1% | $1.7B+7.2% | $1.6B+15.5% | $1.4B+7.1% | $1.3B-0.7% | $1.3B+15.7% | $1.1B |
| Cost of Revenue | $1.1B-9.2% | $1.2B+4.1% | $1.2B+8.8% | $1.1B+13.0% | $967.1M+8.8% | $888.9M+0.5% | $884.6M+11.9% | $790.3M |
| Gross Profit | $430.1M-18.6% | $528.2M-2.3% | $540.9M+3.8% | $521.0M+21.1% | $430.1M+3.3% | $416.2M-3.2% | $429.8M+24.4% | $345.5M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $341.0M-0.6% | $343.0M-9.4% | $378.6M+15.5% | $327.8M-2.4% | $335.9M+40.1% | $239.7M-6.5% | $256.3M+17.2% | $218.7M |
| Operating Income | $18.0M-87.7% | $146.4M+29.8% | $112.8M-26.4% | $153.2M+289.1% | -$81.0M-151.4% | $157.5M-0.9% | $159.0M+27.4% | $124.8M |
| Interest Expense | $79.4M-4.5% | $83.1M+1.5% | $81.9M-0.2% | $82.1M-6.5% | $87.8M+2.5% | $85.7M-0.6% | $86.2M+7.9% | $79.9M |
| Income Tax | $4.2M-84.1% | $26.4M+62.0% | $16.3M-7.9% | $17.7M+218.8% | -$14.9M-180.5% | $18.5M+1.1% | $18.3M+60.5% | $11.4M |
| Net Income | -$13.0M-177.4% | $16.8M-39.1% | $27.6M-3.8% | $28.7M+118.2% | -$157.7M-395.9% | $53.3M-2.2% | $54.5M+62.7% | $33.5M |
| EPS (Diluted) | N/A | $0.04-42.9% | $0.07-12.5% | $0.08 | N/A | $0.24-4.0% | $0.25+66.7% | $0.15 |
PRMB Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.6B-3.2% | $11.0B-0.8% | $11.0B+0.6% | $11.0B-1.9% | $11.2B | $0 | N/A | N/A |
| Current Assets | $1.2B-16.9% | $1.5B-2.4% | $1.5B+7.9% | $1.4B-8.9% | $1.5B | N/A | N/A | N/A |
| Cash & Equivalents | $376.7M-10.9% | $422.7M+2.6% | $412.0M-8.4% | $449.7M-26.7% | $613.7M+247.3% | $176.7M+876.2% | $18.1M-45.3% | $33.1M |
| Inventory | $223.5M-4.4% | $233.9M-5.8% | $248.3M-1.5% | $252.2M+21.0% | $208.4M | N/A | N/A | N/A |
| Accounts Receivable | $431.8M-21.5% | $550.0M-6.3% | $587.0M+16.3% | $504.6M+13.6% | $444.0M | N/A | N/A | N/A |
| Goodwill | $3.6B-0.1% | $3.6B+0.1% | $3.6B+0.3% | $3.6B0.0% | $3.6B | N/A | N/A | N/A |
| Total Liabilities | $7.6B-2.4% | $7.8B-0.1% | $7.8B+2.0% | $7.6B-1.3% | $7.8B+3109.2% | $241.5M | N/A | N/A |
| Current Liabilities | $1.3B-10.5% | $1.4B+0.9% | $1.4B+8.7% | $1.3B-7.5% | $1.4B+70574900.0% | $2K | N/A | N/A |
| Long-Term Debt | $5.1B+1.4% | $5.0B-0.1% | $5.0B+0.9% | $5.0B+0.3% | $5.0B | N/A | N/A | N/A |
| Total Equity | $3.0B-5.3% | $3.2B-2.7% | $3.2B-2.6% | $3.3B-3.2% | $3.4B+1526.2% | -$241.5M+18.6% | -$296.8M+15.2% | -$349.8M |
| Retained Earnings | -$2.0B-9.2% | -$1.8B-5.4% | -$1.7B-6.9% | -$1.6B-8.2% | -$1.5B-75684900.0% | -$2K | N/A | N/A |
PRMB Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $203.1M-28.3% | $283.4M+82.8% | $155.0M+299.5% | $38.8M-58.6% | $93.7M | $0-100.0% | $102.5M+1608.3% | $6.0M |
| Capital Expenditures | $145.8M+26.0% | $115.7M+114.7% | $53.9M-13.1% | $62.0M+16.3% | $53.3M+65.0% | $32.3M-21.4% | $41.1M+74.9% | $23.5M |
| Free Cash Flow | $57.3M-65.8% | $167.7M+65.9% | $101.1M+535.8% | -$23.2M-157.4% | $40.4M+225.1% | -$32.3M-152.6% | $61.4M+450.9% | -$17.5M |
| Investing Cash Flow | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A | N/A | $0 | N/A | N/A |
| Dividends Paid | $38.1M+2.4% | $37.2M-0.5% | $37.4M-3.1% | $38.6M+8.1% | $35.7M | $0 | $0 | $0 |
| Share Buybacks | $124.7M+64.5% | $75.8M-25.5% | $101.8M-14.6% | $119.2M+1046.2% | $10.4M | $0 | $0 | $0 |
PRMB Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 27.7%-2.2pp | 29.9%-1.4pp | 31.3%-1.0pp | 32.3%+1.5pp | 30.8%-1.1pp | 31.9%-0.8pp | 32.7%+2.3pp | 30.4% |
| Operating Margin | 1.2%-7.1pp | 8.3%+1.8pp | 6.5%-3.0pp | 9.5%+15.3pp | -5.8%-17.9pp | 12.1%-0.0pp | 12.1%+1.1pp | 11.0% |
| Net Margin | -0.8%-1.8pp | 0.9%-0.7pp | 1.6%-0.2pp | 1.8%+13.1pp | -11.3%-15.4pp | 4.1%-0.1pp | 4.2%+1.2pp | 2.9% |
| Return on Equity | -0.4%-1.0pp | 0.5%-0.3pp | 0.9%0.0pp | 0.9%+5.4pp | -4.6% | N/A | N/A | N/A |
| Return on Assets | -0.1%-0.3pp | 0.1%-0.1pp | 0.3%0.0pp | 0.3%+1.7pp | -1.4% | N/A | N/A | N/A |
| Current Ratio | 0.95-0.1 | 1.02-0.0 | 1.060.0 | 1.07-0.0 | 1.08 | N/A | N/A | N/A |
| Debt-to-Equity | 1.70+0.1 | 1.59+0.0 | 1.55+0.1 | 1.49+0.1 | 1.44+2.4 | -1.00 | N/A | N/A |
| FCF Margin | 3.7%-5.8pp | 9.5%+3.7pp | 5.8%+7.3pp | -1.4%-4.3pp | 2.9%+5.4pp | -2.5%-7.1pp | 4.7%+6.2pp | -1.5% |
Note: The current ratio is below 1.0 (0.95), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Primo Brands's annual revenue?
Primo Brands (PRMB) reported $6.7B in total revenue for fiscal year 2025. This represents a 29.3% 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 Primo Brands's revenue growing?
Primo Brands (PRMB) revenue grew by 29.3% year-over-year, from $5.2B to $6.7B in fiscal year 2025.
Is Primo Brands profitable?
Yes, Primo Brands (PRMB) reported a net income of $60.1M in fiscal year 2025, with a net profit margin of 0.9%.
What is Primo Brands's EBITDA?
Primo Brands (PRMB) had EBITDA of $1.0B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Primo Brands have?
As of fiscal year 2025, Primo Brands (PRMB) had $376.7M in cash and equivalents against $5.1B in long-term debt.
What is Primo Brands's gross margin?
Primo Brands (PRMB) had a gross margin of 30.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Primo Brands's operating margin?
Primo Brands (PRMB) had an operating margin of 6.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Primo Brands's net profit margin?
Primo Brands (PRMB) had a net profit margin of 0.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Primo Brands pay dividends?
Yes, Primo Brands (PRMB) paid $0.40 per share in dividends during fiscal year 2025.
What is Primo Brands's return on equity (ROE)?
Primo Brands (PRMB) has a return on equity of 2.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Primo Brands's free cash flow?
Primo Brands (PRMB) generated $302.9M in free cash flow during fiscal year 2025. This represents a -3.4% 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 Primo Brands's operating cash flow?
Primo Brands (PRMB) generated $680.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Primo Brands's total assets?
Primo Brands (PRMB) had $10.6B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Primo Brands's capital expenditures?
Primo Brands (PRMB) invested $377.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Primo Brands's current ratio?
Primo Brands (PRMB) had a current ratio of 0.95 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Primo Brands's debt-to-equity ratio?
Primo Brands (PRMB) had a debt-to-equity ratio of 1.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Primo Brands's return on assets (ROA)?
Primo Brands (PRMB) had a return on assets of 0.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Primo Brands's Altman Z-Score?
Primo Brands (PRMB) has an Altman Z-Score of 1.03, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Primo Brands's Piotroski F-Score?
Primo Brands (PRMB) has a Piotroski F-Score of 6 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Primo Brands's earnings high quality?
Primo Brands (PRMB) has an earnings quality ratio of 11.32x, considered cash-backed (high 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 Primo Brands cover its interest payments?
Primo Brands (PRMB) has an interest coverage ratio of 1.3x, 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 Primo Brands?
Primo Brands (PRMB) scores 42 out of 100 on our Financial Profile, indicating moderate 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.