FRPTFreshpet, Inc.
Grain Mill Products
- Revenue
- $1.1B
- 13% YoY
- Operating margin
- 6.9%
- 76% YoY
- EBITDA
- $162M
- 51% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- -2.2×
- −$350M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear115% of net incomeCash flow under 80% of net income
- Dilutive SBCClear1% of revenueOver 10% of revenue
- Payouts exceed cash flowClear0% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear—Over 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $425M | $595M | $767M | $975M | $1.1B | 13% |
| Operating income | −$25M | −$52M | −$30M | $38M | $76M | 99% |
| Net income | −$30M | −$59M | −$34M | $47M | $139M | 196% |
| Operating cash flow | $647K | −$43M | $76M | $154M | $161M | 4.1% |
| Capex | $322M | $230M | $239M | $187M | $148M | 21% |
| Stock-based comp | $25M | $26M | $25M | $52M | $14M | 73% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $65K · 1
- Open-market sells, 12 mo
- $0 · 0
- Net
- $65K
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $13M | $5M | 43 | 80 |
| FY2024 | $2M | $10M | 104 | 93 |
| FY2023 | $2M | $7M | 61 | 104 |
| FY2022 | $915K | −$3M | 37 | 81 |
| FY2021 | $765K | −$7M | 67 | 99 |