PRMBPrimo Brands Corporation
Is the business good?
The checks split: nothing decisive, though earnings fully cash-backed (2.8×).
Operating profit is fully backed by cash. Conversion is improving vs a year ago.
A balanced mix of margins, efficiency, and leverage. ROE 1% = margin × turnover × leverage.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is PRMB?
Primo Brands Corporation earns 4.9% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 4.1 points below what the capital costs: growth destroys value
- Operating margin
- 7.2%
Operating margin · Beverages - Non-Alcoholic median 17% · 12 months to Q2 2026
- Cash conversion
- 2.79×
Cash conversion · 2.03× a year ago · operating cash flow covers the operating profit after tax
- Share count, year on year
- −3.0%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2022 | 0.52% |
| FY2023 | 8.6% |
| FY2024 | 7.0% |
| FY2025 | 6.5% |
Details›
- Gross margin12 months to Q2 2026
- 29%
- Operating margin12 months to Q2 2026
- 7.2%
- Net margin12 months to Q2 2026
- 1.5%
- Free cash flow margin
- 5.4%
- Revenue, trailing twelve months
- $6.74B
- Free cash flow, trailing twelve months
- $367M
- Net income, trailing twelve months
- $100M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 4.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.