BRBR BELLRING BRANDS, INC.

Overview and Growth

In fiscal 2025, BELLRING BRANDS, INC. recorded $2.32B of revenue, net income of $216.20M, and an operating cash inflow of $260.60M. At $2.32B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 16.1% from $2.00B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $1.68, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS decreased by 9.7% from $1.86 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Revenue equaled 2.46x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $770.40M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. The gross-profit relationship equaled 33.3% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced $357.40M of income after the reported operating expense base, before the remaining non-operating and tax effects. Operating margin measured 15.4%, showing the portion of revenue preserved after the full set of operating costs. Net income came to $216.20M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 9.3% of revenue, connecting the absolute net income figure with the company’s top-line scale. Pretax income was $289.00M, isolating the reported earnings outcome before the income-tax provision recognized for the fiscal year. Pretax income represented 12.5% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $72.80M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 25.2%, quantifying the portion of pre-tax earnings paid in income tax.

Liquidity and Capital Structure

Total assets were $941.00M, supported by $1.39B of liabilities and -$453.90M of shareholder equity. Equity was negative at -$453.90M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. The near-term balance sheet paired $665.50M of current assets with $282.80M of current liabilities at the reporting date. The current ratio was 2.35x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $71.80M in cash and equivalents, a narrower liquidity measure than total current assets. Measured only with cash and equivalents, coverage of current liabilities was 25.4%, excluding receivables and other current assets. Borrowings totaled $1.08B, adding a fixed financing obligation alongside the company’s equity capital. Relative to total assets, debt measured 115.2%, showing how much of the asset base was matched by borrowing. The liabilities-to-assets relationship was 148.2%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 7.6%, comparing reported cash and equivalents with the full positive asset balance.

Cash Flow and Earnings Quality

The company reported $260.60M of operating cash flow, a cash inflow that shows the cash generated by operations. Against net income, operating cash flow measured 1.21x, showing the relationship between accrual earnings and operating cash. Capital spending was $4.70M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 1.8%, connecting investment intensity with the company’s cash-generation base. After capital spending, free cash flow was $255.90M, leaving cash available for debt reduction, shareholder returns, or further investment. Free cash flow represented 11.0% of revenue, linking post-investment cash generation with the company’s operating scale. Free cash flow equaled 27.2% of total assets, relating post-investment cash generation to the company’s resource base.

Based on the annual report for the fiscal year ending Sep 30, 2025. Analysis generated Oct 21, 2026.