Is the business good?
How good a business is FRPT?
Freshpet, Inc. earns 8.2% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.2%
Return on invested capital · cost of capital 9.0% · 0.79 points below what the capital costs: growth destroys value
- Operating margin
- 8.1%
Operating margin · Packaged Foods median 8.2% · 12 months to Q1 2026
- Cash conversion
- 0.23×
Cash conversion · −0.86× a year ago · some of the reported profit has not turned into cash yet
- Share count, year on year
- +15%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −0.63% |
| FY2021 | −5.8% |
| FY2022 | −8.7% |
| FY2023 | −4.0% |
| FY2024 | 3.9% |
| FY2025 | 6.9% |
Details›
- Gross margin12 months to Q1 2026
- 41%
- Operating margin12 months to Q1 2026
- 8.1%
- Net margin12 months to Q1 2026
- 18%
- Free cash flow margin
- 4.1%
- Revenue, trailing twelve months
- $1.14B
- Free cash flow, trailing twelve months
- $47M
- Net income, trailing twelve months
- $200M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.2%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.