BellRing Brands (BRBR) AI Stock Analysis

• Market Cap: $2.17B
• Dividend Yield: N/A
• Average Volume (3M): 4.31M
• Price to Earnings (P/E): 13.0
• Beta (1Y): 0.67
• Revenue Growth: 16.05%
• EPS Growth: -10.17%
• Country: US
• Employees: 485
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Packaged Foods
• EPS (TTM): 0.37
• Shares Outstanding: 117,269,520
• 10 Day Avg. Volume: 3,715,456
• 30 Day Avg. Volume: 4,309,619
• PEG Ratio: -2.12
• Price to Book (P/B): -10.16
• Price to Sales (P/S): 1.99
• P/FCF Ratio: 18.03
• Enterprise Value/Market Cap: 1.49
• Enterprise Value/Revenue: 1.40
• Enterprise Value/Gross Profit: 4.45
• Enterprise Value/Ebitda: 9.96
• 1Y Price Target: $32.09
• Price Target Upside: 68.54% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 14
• EPS Forecast (FY): 1.92
• Revenue Forecast (FY): $2.42B

• Rating: 56 Neutral
• Price Target: $19.00 ▼(-0.21% Downside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is driven primarily by mixed fundamentals: strong revenue growth and solid cash generation are outweighed by significant balance-sheet risk (negative equity, higher debt) and margin compression. Technicals are notably weak with the stock below all key moving averages and negative momentum, adding downside risk. Valuation is reasonable on P/E but lacks dividend support, while the latest earnings update is constructive longer-term (raised EBITDA outlook, H2 improvement plan) but pressured near-term by inflation, tariffs, mix and promotions, plus added uncertainty from a CEO transition.

Positive Factors

Market leadership & brand equity

Premier’s leading ~22% share and record household penetration indicate durable brand equity and strong repeat purchase behavior. Such scale supports negotiated retail placements, promotional leverage, and resilience versus insurgents, underpinning sustained volume and pricing power over months.

Sustained revenue growth and cash generation

Multi-year revenue expansion (~$1.25B to ~$2.32B) and consistent operating cash/free cash flow in absolute terms demonstrate that growth converts to cash. This durable cash generation can fund innovation, merchandising, and buybacks while supporting investment despite cyclical cost pressures.

Product innovation and international diversification

A tangible innovation pipeline (new RTD and shake lines) plus Dymatize’s strong international growth diversify revenue drivers beyond mature US channels. New product momentum and geographic expansion improve long-term growth optionality and reduce dependence on any single channel or cycle.

Negative Factors

Weak balance sheet and high leverage

Persistently negative equity and a debt-heavy capital structure (~$1.18B debt vs ~$1.06B assets) materially reduce financial flexibility. This elevates refinancing and covenant risk, limits capacity for large investments, and makes the firm more sensitive to margin or cashflow volatility over the medium term.

Structural margin pressure from input costs and tariffs

Sustained whey inflation, embedded tariff impacts (~80bps), and mix shifts (mid-single-digit headwinds) have driven a large gross-margin step-down. Without durable price recovery or structural cost reductions, these pressures compress long-term EBITDA and free cash flow generation.

Leadership transition creates execution risk

A planned CEO retirement and external successor search introduces execution risk during a critical margin-recovery and innovation rollout phase. Even orderly transitions can slow decision-making or change strategic emphasis, potentially delaying cost and commercial initiatives that underpin H2 improvement plans.

BellRing Brands Business Overview & Revenue Model

Company Description

BellRing Brands, Inc., together with its subsidiaries, provides various nutrition products in the United States and internationally. It offers ready-to-drink shake and powder protein products primarily under the Premier Protein and Dymatize brands. The company sells its products through club, food, drug, mass, eCommerce, specialty, and convenience channels. BellRing Brands, Inc. was incorporated in 2019 and is headquartered in Saint Louis, Missouri.

How the Company Makes Money

BellRing Brands generates revenue primarily through the sale of its protein products across various channels. Its direct-to-consumer revenue comes from online sales through its e-commerce platform, while retail sales are driven through partnerships with major grocery chains, convenience stores, and health clubs. The company benefits from brand loyalty and recognition, which helps maintain strong sales volumes. Additionally, strategic partnerships with retailers enhance distribution efficiency and market reach, contributing significantly to overall earnings. Seasonal promotions and marketing campaigns also play a crucial role in driving sales and expanding customer engagement.

BellRing Brands Financial Statement Overview

Summary

Strong revenue expansion and solid operating profitability are positives, and operating cash flow/free cash flow are meaningful in absolute terms. However, the balance sheet is a major risk with persistently negative equity and rising debt, and profitability has compressed versus prior periods, which pulls down the overall financial profile.

Income Statement

BRBR shows strong top-line momentum, with revenue up ~19% in TTM (Trailing-Twelve-Months) and a multi-year expansion from $1.25B (2021) to ~$2.32B (TTM). Profitability remains solid but is trending down versus prior years: TTM gross margin is ~31.5% (vs ~35.4% in 2024) and TTM net margin is ~7.9% (vs ~12.3% in 2024). Operating profitability is still healthy (TTM EBIT margin ~10.4%), but the step-down in margins indicates cost pressure and/or mix effects despite continued growth.

Balance Sheet

The balance sheet is the main weak point. Stockholders’ equity is negative across all periods provided (TTM equity about -$511M), which reduces financial flexibility and makes leverage risk more acute. Total debt has risen to ~$1.18B in TTM (from ~$0.84B in 2024), while total assets are about ~$1.06B, implying a debt-heavy capital structure. Returns on equity are also negative due to the negative equity base, reinforcing that the company is operating with limited balance sheet cushion even though earnings are positive.

Cash Flow

Cash generation is generally supportive: TTM operating cash flow is ~$255M and free cash flow is ~$251M, with free cash flow closely matching net income (TTM free cash flow to net income ~0.99), suggesting earnings are translating well into cash. However, free cash flow growth in TTM is sharply negative (about -188%), pointing to volatility versus the prior period, and operating cash flow relative to profitability is only moderate in TTM (coverage ~0.72). Overall, cash flow is solid in absolute dollars but less consistent on a growth basis.

Breakdown	TTM	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	2.32B	2.32B	2.00B	1.67B	1.37B	1.25B
Gross Profit	729.10M	770.40M	707.30M	530.20M	421.80M	386.20M
EBITDA	325.70M	376.00M	424.20M	315.60M	216.10M	220.10M
Net Income	183.00M	216.20M	246.50M	165.50M	82.30M	27.60M
Balance Sheet
Total Assets	1.06B	941.00M	837.00M	691.60M	707.20M	696.50M
Cash, Cash Equivalents and Short-Term Investments	64.10M	89.10M	71.10M	48.40M	35.80M	152.60M
Total Debt	1.18B	1.11B	839.60M	865.00M	938.00M	608.40M
Total Liabilities	1.57B	1.39B	1.04B	1.02B	1.08B	762.00M
Stockholders Equity	-510.70M	-453.90M	-205.90M	-323.50M	-376.20M	-3.06B
Cash Flow
Free Cash Flow	246.90M	255.90M	197.80M	213.80M	19.20M	224.50M
Operating Cash Flow	254.50M	260.60M	199.60M	215.60M	21.00M	226.10M
Investing Cash Flow	-7.60M	-4.70M	-1.80M	-1.80M	-1.80M	-1.60M
Financing Cash Flow	-220.40M	-238.30M	-175.10M	-201.70M	-135.00M	-120.90M

BellRing Brands Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 19.04
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BRBR, the sentiment is Negative. The current price of 19.04 is below the 20-day moving average (MA) of 20.71, below the 50-day MA of 24.79, and below the 200-day MA of 39.72, indicating a bearish trend. The MACD of -2.01 indicates Negative momentum. The RSI at 30.59 is Neutral, neither overbought nor oversold. The STOCH value of 57.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRBR.

BellRing Brands Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MZTI	76 Outperform	$4.41B	24.60	17.84%	2.35%	3.16%	6.47%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
SMPL	62 Neutral	$1.49B	18.69	5.17%	―	8.98%	-26.29%
POST	62 Neutral	$5.19B	19.77	8.69%	―	2.97%	-2.68%
CAG	58 Neutral	$8.99B	-90.82	-1.16%	7.87%	-5.82%	-119.70%
BRBR	56 Neutral	$2.17B	13.03	―	―	16.05%	-10.17%
FLO	54 Neutral	$2.09B	25.03	6.18%	9.15%	0.26%	-19.45%

BellRing Brands Corporate Events

BellRing Brands CEO retirement and Q1 2026 results

On February 2, 2026, BellRing Brands President and CEO Darcy H. Davenport notified the board of her intention to retire, effective upon the appointment of a successor or by September 30, 2026, with the company stating her departure is not related to any disagreement over operations, policies or practices, signaling an orderly leadership transition at the protein-focused nutrition company. Also on February 3, 2026, BellRing reported first-quarter fiscal 2026 results for the period ended December 31, 2025, with net sales edging up 0.8% year over year to $537.3 million and net earnings falling to $43.7 million as margins were pressured by significant input cost inflation and unfavorable mix, even as Dymatize posted strong growth and the company repurchased about 2.5% of its shares; management narrowed its full-year 2026 outlook for net sales and Adjusted EBITDA, reflecting heavier promotions and higher whey costs but still projecting mid-single-digit sales growth and second-half acceleration driven by merchandising, advertising and innovation initiatives.

The most recent analyst rating on (BRBR) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on BellRing Brands stock, see the BRBR Stock Forecast page.

BellRing Brands Shareholders Back Board and Governance Plans

On January 28, 2026, BellRing Brands, Inc. held its annual meeting of stockholders virtually via live audio-only webcast, with 84.74% of outstanding shares represented, and stockholders elected all director nominees to serve until the 2027 annual meeting or until their successors are duly chosen. Investors also ratified the appointment of PricewaterhouseCoopers LLP as the company’s independent auditor for fiscal 2026 and approved the company’s executive compensation program, signaling broad shareholder support for the current board, governance structure and financial oversight, which may reinforce management’s strategic flexibility and stability for stakeholders.

The most recent analyst rating on (BRBR) stock is a Buy with a $27.00 price target. To see the full list of analyst forecasts on BellRing Brands stock, see the BRBR Stock Forecast page.

BellRing Brands Announces $600M Share Repurchase Plan

On November 19, 2025, BellRing Brands, Inc. announced the approval of a new $600 million share repurchase authorization, effective immediately, while canceling its previous $400 million authorization. The new authorization, which spans two years, allows for flexible repurchase methods and does not obligate the company to buy a specific amount of shares. The decision reflects BellRing’s strategic financial management, potentially impacting its market positioning and shareholder value.

The most recent analyst rating on (BRBR) stock is a Hold with a $31.00 price target. To see the full list of analyst forecasts on BellRing Brands stock, see the BRBR Stock Forecast page.