Bellring Brands Inc Class A (BRBR)
NYSE:BRBR
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BellRing Brands
(NYSE:BRBR)
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Rating:47Neutral
Price Target:
$9.00
▼(-44.24% Downside)
Action:Reiterated
Date:05/09/26
The score is primarily held down by deteriorating profitability and high balance-sheet risk (negative equity) alongside a bearish technical setup (price below all key moving averages). The latest earnings call reinforced near-term pressure via margin collapse and reduced FY26 expectations, partially offset by strong historical revenue growth and continued positive free cash flow.
Positive Factors
Revenue Growth
Sustained revenue expansion (~46% TTM) indicates durable consumer demand and successful shelf penetration across RTD and powder segments. This scale supports investment in marketing and innovation, helps absorb near-term cost shocks, and underpins long-term capacity to fund growth initiatives.
Negative Factors
Balance Sheet Risk
Negative shareholders' equity and sizeable debt relative to assets materially reduce financial flexibility and raise refinancing risk. In a downturn or if cash flow weakens, the company faces higher funding costs and constrained strategic options, elevating long-term solvency and execution risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained revenue expansion (~46% TTM) indicates durable consumer demand and successful shelf penetration across RTD and powder segments. This scale supports investment in marketing and innovation, helps absorb near-term cost shocks, and underpins long-term capacity to fund growth initiatives.
Read all positive factors
BellRing Brands (BRBR) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.04B
Dividend YieldN/A
Average Volume (3M)5.56M
Price to Earnings (P/E)6.6
Beta (1Y)0.48
Revenue Growth6.37%
EPS Growth-40.20%
CountryUS
Employees485
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)1.31
Shares Outstanding116,277,850
10 Day Avg. Volume4,976,797
30 Day Avg. Volume5,562,195
Financial Highlights & Ratios
PEG Ratio-2.12
Price to Book (P/B)-10.16
Price to Sales (P/S)1.99
P/FCF Ratio18.03
Enterprise Value/Market Cap2.05
Enterprise Value/Revenue0.91
Enterprise Value/Gross Profit3.15
Enterprise Value/Ebitda7.15
Forecast
1Y Price Target
$15.27Price Target Upside-5.37% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering13
EPS Forecast (FY)1.29
Revenue Forecast (FY)$2.34B
BellRing Brands Business Overview & Revenue Model
Company Description
BellRing Brands Inc., along with its various subsidiaries, is a provider of diverse nutritional products, serving both the United States and international markets. The company's main offerings are protein-fortified ready-to-drink shakes and powder...
How the Company Makes Money
BellRing makes money by selling branded convenient nutrition products to retailers, club stores, and other distribution partners, with revenue primarily generated from product sales of protein shakes, powders, and bars. A major portion of sales co...
BellRing Brands Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Aug 10, 2026
Earnings Call Sentiment Negative
The call conveyed that while top-line growth and category momentum persist (Q2 net sales +2%, Premier shake volumes +12%, RTD category +8%) and management is investing in distribution, advertising and innovation (Q4 launches, continued 4% ad spend), near-term profitability and operating performance were materially weaker than expected. A significant gross-margin collapse (~22.7% vs 34.5% prior year), an $11M inventory charge, elevated promotional intensity (27% of volumes on promotion, +8pp), and higher-than-expected commodity and freight inflation forced downward revisions to sales and margin guidance for FY26. Given the scale and immediacy of margin and guidance deterioration despite some operational and strategic positives, the overall tone is cautious to negative for the near term, though management emphasizes long-term confidence in the brand and category.Positive Updates
Net Sales and Volume Growth
Total Q2 net sales of $599 million, up 2% year-over-year. Premier Protein net sales grew 1.7%; Premier RTD shake net sales up 2.3% with shake volumes up 12% (offset by unfavorable price/mix). RTD shake category growth of ~8% year-over-year.
Negative Updates
Severe Profitability Compression
Adjusted gross profit of $136 million and adjusted gross margin of 22.7% in Q2 versus 34.5% a year ago (decline of ~17.8 percentage points). Adjusted EBITDA of $54 million and adjusted EBITDA margin of 9%, 400 basis points below prior guide (13%).
Read all updates
Q2-2026 Updates
Positive
Negative
Net Sales and Volume Growth
Total Q2 net sales of $599 million, up 2% year-over-year. Premier Protein net sales grew 1.7%; Premier RTD shake net sales up 2.3% with shake volumes up 12% (offset by unfavorable price/mix). RTD shake category growth of ~8% year-over-year.
Read all positive updates
Company Guidance
The company updated FY26 guidance to net sales of $2.325B–$2.365B (flat to +2%) and adjusted EBITDA of $315M–$335M (≈14% margin, ≈14.5% excl. the Q2 inventory-related charge), citing commodity and freight inflation and elevated promotional investment; H2 net sales are now modeled at ≈+1% (versus +8% implied previously) and H2 margins ≈15% (vs ~20% prior). Q2 results: net sales $599M (+2%), adjusted EBITDA $54M (9% margin, 400 bps below prior guide), an $11M inventory charge (noted as ~190 bps of the Q2 variance), adjusted gross profit $136M (adjusted gross margin 22.7% vs 34.5% LY), SG&A $92M (15.3% of sales) with advertising up ~140 bps to ~4% of sales, and $26M of share repurchases; operating items driving the EBITDA revision include ~200 bps from freight/protein inflation, ~160 bps from unfavorable mix and higher trade, and ~60 bps from lower manufacturing cost savings. Near-term cadence: Q3 sales expected ≈-1% with ~16% adj. EBITDA margin, Premier RTD trends include +12% volumes/‑9% price‑mix (Premier net sales +1.7%, RTD +2.3%), category RTD growth ≈8%, promo volume 27% of RTD (up 8 ppt YoY), consumption outside club +15%, and management expects double-digit TDP growth in FY26, continued ~4% ad spend, protein-driven inflation to hit Q3 and more in Q4, and net leverage to remain in the low‑3x range.BellRing Brands Financial Statement Overview
Summary
Income Statement
71
Positive
Balance Sheet
38
Negative
Cash Flow
66
Positive
| Breakdown | TTM | Sep 2025 | Sep 2024 | Sep 2023 | Sep 2022 | Sep 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.33B | 2.32B | 2.00B | 1.67B | 1.37B | 1.25B |
| Gross Profit | 673.20M | 770.40M | 707.30M | 530.20M | 421.80M | 386.20M |
| EBITDA | 296.90M | 376.00M | 424.20M | 315.60M | 216.10M | 220.10M |
| Net Income | 158.20M | 216.20M | 246.50M | 165.50M | 82.30M | 27.60M |
Balance Sheet | ||||||
| Total Assets | 1.03B | 941.00M | 837.00M | 691.60M | 707.20M | 696.50M |
| Cash, Cash Equivalents and Short-Term Investments | 33.20M | 89.10M | 71.10M | 48.40M | 35.80M | 152.60M |
| Total Debt | 1.19B | 1.11B | 839.60M | 865.00M | 938.00M | 608.40M |
| Total Liabilities | 1.52B | 1.39B | 1.04B | 1.02B | 1.08B | 762.00M |
| Stockholders Equity | -497.80M | -453.90M | -205.90M | -323.50M | -376.20M | -3.06B |
Cash Flow | ||||||
| Free Cash Flow | 186.30M | 255.90M | 197.80M | 213.80M | 19.20M | 224.50M |
| Operating Cash Flow | 195.10M | 260.60M | 199.60M | 215.60M | 21.00M | 226.10M |
| Investing Cash Flow | -8.80M | -4.70M | -1.80M | -1.80M | -1.80M | -1.60M |
| Financing Cash Flow | -197.50M | -238.30M | -175.10M | -201.70M | -135.00M | -120.90M |
BellRing Brands Technical Analysis
Negative
16.14
Price Trends
12.29
Negative
15.74
Negative
23.82
Negative
Market Momentum
-0.97
Negative
38.67
Neutral
60.21
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 16.14 is above the 20-day moving average (MA) of 8.80, above the 50-day MA of 12.29, and below the 200-day MA of 23.82, indicating a neutral trend. The MACD of -0.97 indicates Negative momentum. The RSI at 38.67 is Neutral, neither overbought nor oversold. The STOCH value of 60.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BRBR.
BellRing Brands Risk Analysis
BellRing Brands disclosed 48 risk factors in its most recent earnings report. BellRing Brands reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
BellRing Brands Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $3.00B | 17.37 | 17.35% | 2.35% | 2.85% | 3.89% | |
63 Neutral | $4.22B | 13.18 | 9.40% | ― | 7.16% | 6.00% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | $1.14B | -10.98 | -6.15% | ― | 0.34% | -182.07% | |
56 Neutral | $6.43B | -151.97 | -0.51% | 7.87% | -4.73% | -112.96% | |
53 Neutral | $1.65B | 22.65 | 5.34% | 9.15% | 3.80% | -68.17% | |
47 Neutral | $1.04B | 6.59 | -35.70% | ― | 6.37% | -40.20% |
* Consumer Defensive Sector Average
BRBR
BellRing Brands
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.