Freshpet Inc Stock Research

Market Summary

USD67.35+1.25

Market Closed

1.89%

FRPT Alerts

1 major insider sales recently.
Big jump in Revenue (Y/Y)
Big fall in earnings (Y/Y)
Losses in recent quarter

FRPT Stock Price

FRPT RSI Chart

FRPT Valuation

Market Cap

3.2B

Price/Earnings (Trailing)

-48.55

Price/Sales (Trailing)

5.14

EV/EBITDA

-204.77

Price/Free Cashflow

-146.07

FRPT Price/Sales (Trailing)

FRPT Profitability

EBT Margin

-9.32%

Return on Equity

-5.77%

Return on Assets

-5.29%

Free Cashflow Yield

-0.68%

FRPT Fundamentals

FRPT Revenue

Revenue (TTM)

630.7M

Revenue Y/Y

26.75%

Revenue Q/Q

1.02%

FRPT Earnings

Earnings (TTM)

-66.7M

Earnings Y/Y

-41.3%

Earnings Q/Q

-749.71%

Price Action

52 Week Range

36.0273.48

(Low)(High)

Last 7 days

5.1%

Last 30 days

3.6%

Last 90 days

6.5%

Trailing 12 Months

10.5%

FRPT Financial Health

Current Ratio

2.92

FRPT Investor Care

Shares Dilution (1Y)

10.67%

Diluted EPS (TTM)

-1.41

Peers (Alternatives to Freshpet)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
GIS	47.8B	20.0B	-2.26%	28.46%	16.42	2.47	7.14%	21.75%
ADM	41.3B	102.0B	-6.77%	-12.05%	9.26	0.4	13.30%	44.96%
K	23.1B	15.7B	1.75%	0.93%	24.02	1.51	10.00%	-45.78%
HRL	21.4B	12.4B	-1.88%	-18.43%	21.84	1.72	3.48%	5.62%
LW	16.5B	4.8B	-0.43%	72.73%	30.41	3.43	21.64%	131.27%
MID-CAP
INGR	6.9B	8.2B	5.15%	19.52%	14.01	0.87	14.21%	12.17%
PPC	5.6B	17.4B	6.10%	-23.27%	11.9	0.32	10.47%	122.83%
FRPT	3.2B	630.7M	3.60%	10.54%	-48.55	5.14	35.85%	-83.58%
POST	5.1B	6.1B	-2.22%	9.72%	5.83	0.83	18.23%	1243.59%
SMALL-CAP
BRID	110.7M	263.4M	-5.13%	-1.21%	2.42	0.42	5.45%	786.05%
LWAY	99.3M	145.4M	-5.89%	11.22%	37.5	0.68	17.44%	138.65%
RMCF	36.4M	33.1M	11.66%	-7.45%	-10.1	1.1	2.77%	-346.02%
PLAG	36.0M	-	7.10%	-0.12%	-1.39	0.8	18.50%	-164.64%
RIBT	5.4M	41.6M	-17.49%	19.70%	-0.68	0.13	33.68%	12.19%

Financials for Freshpet

Income Statement (Last 12 Months)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	5.9%	630,695,000	595,344,000	545,380,000	501,637,000	464,246,000
Gross Profit	3.3%	192,094,000	186,033,000	181,593,000	178,573,000	170,584,000
S&GA Expenses	4.9%	249,710,000	238,016,000	239,149,000	221,065,000	201,407,000
EBITDA	36.2%	-15,718,000	-24,644,000	-10,622,000	839,000	-
EBITDA Margin	41.6%	-0.03	-0.05	-0.02	0.00	-
Earnings Before Taxes	-13.6%	-63,025,000	-55,481,000	-61,755,000	-45,805,000	-33,099,000
EBT Margin	17.7%	-0.09	-0.11	-0.09	-0.07	-
Interest Expenses	49.9%	7,808,000	5,208,000	4,710,000	3,570,000	2,552,000
Net Income	-12.2%	-66,738,000	-59,494,000	-65,843,000	-49,464,000	-36,353,000
Net Income Margin	17.2%	-0.10	-0.12	-0.10	-0.08	-
Free Cahsflow	13.0%	-43,227,000	-49,698,000	-64,690,000	-28,653,000	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	24.4%	1,400	1,125	1,165	1,174	853
Current Assets	95.9%	513	262	383	455	143
Cash Equivalents	154.0%	337	133	240	307	30.00
Inventory	13.8%	66.00	58.00	64.00	61.00	45.00
Net PPE	3.2%	826	801	719	663	664
Liabilities	380.9%	451	94.00	136	141	145
Current Liabilities	-37.8%	56.00	90.00	131	71.00	96.00
LT Debt, Current	597.4%	73.00	10.00	5.00	-	-
LT Debt, Non Current	49.4%	65.00	44.00	-	-	-
Shareholder's Equity	-8.0%	949	1,032	1,030	1,033	708
Retained Earnings	-8.4%	-319	-295	-292	-273	-253
Additional Paid-In Capital	-4.4%	1,268	1,326	1,321	1,305	962
Accumulated Depreciation	5.8%	136	128	121	-	-
Shares Outstanding	0.1%	48.00	48.00	48.00	48.00	43.00

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	48.7%	-22.18	-43.23	-49.70	-64.69	-28.65
Share Based Compensation	8.1%	28.00	26.00	27.00	25.00	25.00
Cashflow From Investing	-20.6%	-281	-233	-291	-322	-331
Cashflow From Financing	81.6%	611	337	411	414	49.00

Risks for FRPT

What is the probability of a big loss on FRPT?

73.5%

Probability that Freshpet stock will be more than 20% underwater in next one year

35.8%

Probability that Freshpet stock will be more than 30% underwater in next one year.

30.4%

Probability that Freshpet stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does FRPT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Freshpet was unfortunately bought at previous high price.

Drawdowns

Returns for FRPT

Cumulative Returns on FRPT

33.7%

7-Year Cumulative Returns

25.4%

5-Year Cumulative Returns

-1.8%

3-Year Cumulative Returns

What are the long-term rolling returns for FRPT?

FIve years rolling returns for Freshpet.

Annualized Returns

Which funds bought or sold FRPT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-05-22	AMERIPRISE FINANCIAL INC	added	24.77	14,348,600	39,743,600	0.01%
2023-05-18	JPMORGAN CHASE & CO	added	28.37	52,045,000	137,344,000	0.02%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-19.97	35,000	9,126,000	0.01%
2023-05-16	Red Tortoise LLC	unchanged	-	429	2,118	-%
2023-05-16	SUSQUEHANNA INTERNATIONAL GROUP, LLP	new	-	4,055,060	4,055,060	-%
2023-05-16	FRED ALGER MANAGEMENT, LLC	reduced	-54.73	-18,188,500	23,902,600	0.13%
2023-05-16	Baker Avenue Asset Management, LP	unchanged	-	241	1,191	-%
2023-05-16	Rockefeller Capital Management L.P.	added	205	281,000	380,000	-%
2023-05-16	KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC	reduced	-1.09	3,662,900	18,882,900	0.06%
2023-05-16	JANE STREET GROUP, LLC	added	44.82	3,466,410	7,712,130	-%

Latest Funds Activity

Are funds buying FRPT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own FRPT

No. of Funds

Freshpet News

Schedule 13G FIlings of Freshpet

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Mar 10, 2023	citigroup inc	1.8%	857,179	SC 13G/A
Feb 14, 2023	price t rowe associates inc /md/	0.1%	46,241	SC 13G/A
Feb 14, 2023	armistice capital, llc	4.45%	2,136,000	SC 13G/A
Feb 13, 2023	capital research global investors	0.5%	237,764	SC 13G/A
Feb 13, 2023	champlain investment partners, llc	7.65%	3,672,754	SC 13G
Feb 09, 2023	fmr llc	-	0	SC 13G
Feb 09, 2023	vanguard group inc	9.21%	4,423,502	SC 13G/A
Feb 08, 2023	wasatch advisors inc	-	0	SC 13G/A
Feb 06, 2023	wellington management group llp	5.09%	2,443,050	SC 13G
Dec 15, 2022	jana partners llc	0.1%	4,145,087	SC 13D/A

FRPT Fair Value

Recent SEC filings of Freshpet

View All Filings

Date Filed	Form Type	Document
May 17, 2023	8-K	Current Report
May 17, 2023	DEFA14A	DEFA14A
May 12, 2023	4	Insider Trading
May 12, 2023	4	Insider Trading
May 12, 2023	4	Insider Trading
May 10, 2023	144	Notice of Insider Sale Intent
May 08, 2023	10-Q	Quarterly Report
May 08, 2023	8-K	Current Report
May 01, 2023	10-K/A	Annual Report
Mar 23, 2023	8-K	Current Report

Latest Insider Trading transactions for FRPT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-05-10	Walsh Cathal	acquired	56,806	9.05	6,277	svp - managing director europe
2023-05-10	Walsh Cathal	sold	-440,018	70.1	-6,277	svp - managing director europe
2023-04-01	Macchiaverna Stephen	sold (taxes)	-6,685	66.19	-101	evp, secretary treasurer
2023-04-01	Garcia Ivan	sold (taxes)	-4,169	66.19	-63.00	vp of finance & controller
2023-03-15	Garcia Ivan	sold (taxes)	-7,793	55.67	-140	vp of finance & controller
2023-03-14	Walsh Cathal	sold (taxes)	-11,913	55.67	-214	svp - managing director europe
2023-03-14	Macchiaverna Stephen	sold (taxes)	-11,913	55.67	-214	evp, secretary treasurer
2023-03-13	NORRIS CHARLES A	acquired	-	-	2,994	-
2023-03-13	Macchiaverna Stephen	acquired	-	-	2,862	evp, secretary treasurer
2023-03-13	Steeneck Craig D.	acquired	-	-	2,113	-

About Freshpet

William B. Cyr

www.freshpet.com

790

Freshpet, Inc. manufactures and markets natural fresh meals and treats for dogs and cats in the United States, Canada, and Europe. The company sells its products under the Freshpet brand; and Dognation and Dog Joy labels through various classes of retail, including grocery, mass, club, pet specialty, and natural, as well as online. Freshpet, Inc. was incorporated in 2004 and is headquartered in Secaucus, New Jersey.

FRPT Income Statement

2023-03-31

Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
shares in Thousands, $ in Thousands

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

NET SALES

^[1]

$ 167,522

$ 132,171

COST OF GOODS SOLD

116,762

87,419

GROSS PROFIT

50,760

44,753

SELLING, GENERAL, AND ADMINISTRATIVE EXPENSES

72,271

60,631

LOSS FROM OPERATIONS

(21,511)

(15,878)

OTHER (EXPENSES)/INCOME:

Other Income, net

946

258

Interest Expense

(3,171)

(571)

Nonoperating Income (Expense), Total

(2,225)

(313)

LOSS BEFORE INCOME TAXES

(23,736)

(16,191)

INCOME TAX EXPENSE

LOSS ON EQUITY METHOD INVESTMENT

980

1,310

LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS

(24,786)

(17,542)

OTHER COMPREHENSIVE (LOSS) INCOME:

Change in foreign currency translation

(362)

TOTAL OTHER COMPREHENSIVE INCOME (LOSS)

(362)

TOTAL COMPREHENSIVE LOSS

$ (24,780)

$ (17,904)

NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

-BASIC (in dollars per share)

$ (0.52)

$ (0.40)

-DILUTED (in dollars per share)

$ (0.52)

$ (0.40)

WEIGHTED AVERAGE SHARES OF COMMON STOCK OUTSTANDING USED IN COMPUTING NET (LOSS) INCOME PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS

-BASIC (in shares)

48,047

43,437

-DILUTED (in shares)

48,047

43,437

[1]	Online sales associated with each class of retailer are included within their respective total.

FRPT Balance Sheet

2023-03-31

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
CURRENT ASSETS:
Cash and cash equivalents	$ 337,143	$ 132,735
Short-term investments	49,326	0
Accounts receivable, net of allowance for doubtful accounts	49,513	57,572
Inventories, net	66,319	58,290
Prepaid expenses	7,751	9,778
Other current assets	3,092	3,590
Total Current Assets	513,144	261,965
Property, plant and equipment, net	826,152	800,586
Deposits on equipment	2,936	3,823
Operating lease right of use assets	4,808	5,165
Equity method investment	0	25,418
Long term investment in equity securities	24,438	0
Other assets	28,539	28,426
Total Assets	1,400,017	1,125,383
CURRENT LIABILITIES:
Accounts payable	26,391	55,088
Accrued expenses	27,805	33,016
Current operating lease liabilities	1,543	1,510
Total Current Liabilities	55,739	89,614
Convertible senior notes	391,567	0
Long term operating lease liabilities	3,804	4,200
Total Liabilities	451,110	93,814
STOCKHOLDERS' EQUITY:
Common stock — voting, $0.001 par value, 200,000 shares authorized, 48,123 issued and 48,109 outstanding on March 31, 2023, and 48,051 issued and 48,037 outstanding on December 31, 2022	48	48
Additional paid-in capital	1,267,642	1,325,524
Accumulated deficit	(319,903)	(295,117)
Accumulated other comprehensive income	1,376	1,370
Treasury stock, at cost — 14 shares on March 31, 2023 and on December 31, 2022	(256)	(256)
Total Stockholders' Equity	948,907	1,031,569
Total Liabilities and Stockholders' Equity	$ 1,400,017	$ 1,125,383