Freshpet
Makes fresh refrigerated meals and treats through a company-owned fridge network.
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Profile
Makes and markets natural fresh meals and treats for dogs and cats. Its model links Freshpet Kitchens, refrigerated distribution, and company-owned Freshpet Fridges across retail channels.
Natural fresh meals and treats for dogs and cats are made and marketed through a refrigerated system rather than conventional shelf-stable fixtures. Freshpet Kitchens, refrigerated distribution, and company-owned Freshpet Fridges link production to grocery, mass, club, pet-specialty, digital, and international retail channels.
The model depends on food quality, cold-chain execution, retail equipment, manufacturing capacity, and major retail customers. Its founders retain operating roles: Scott Morris serves as President and Co-Founder, while Cathal Walsh manages Europe. Billy Cyr has been chief executive since 2016. Two owned Pennsylvania facilities manufacture its food.
Company facts
Categories
Key statistics
Year to date +17.7% · Average volume (30d) 1.3M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Aug 6, 2026 | Deutsche Bank | Reiterate | Hold | $63 | $70 | |
| Aug 6, 2026 | Morgan Stanley | Downgrade | Overweight | Equal-Weight | $77 | $72 |
| Jul 28, 2026 | Coker Palmer | Target | $80 | $72 | ||
| May 7, 2026 | Morgan Stanley | Target | $90 | $77 | ||
| May 7, 2026 | Deutsche Bank | Target | $62 | $63 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 5, 2026Q2 FY26 | $0.24 | $0.42 | +75.0% | $292.3M | $305.6M | +4.5% | +14.57% |
| May 6, 2026Q1 FY26 | $0.06 | $0.04 | −33.3% | $291.9M | $297.6M | +2.0% | +1.71% |
| Feb 23, 2026Q4 FY25 | $0.43 | $0.64 | +48.8% | $285.6M | $285.2M | −0.1% | +2.94% |
| Nov 3, 2025Q3 FY25 | $0.43 | $0.46 | +7.0% | $285.7M | $288.8M | +1.1% | −0.39% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $263.2M | $264.7M | $288.8M | $285.2M | $297.6M | $305.6M | |
| Gross profit | $103.8M | $108.2M | $108.4M | $104.8M | $120.7M | $128.7M | |
| Operating income | −$11.5M | $17.8M | $25.7M | $52.2M | $4.3M | $21.7M | |
| Net income | −$12.7M | $16.4M | $101.7M | $33.8M | $48.5M | $19.5M | |
| Diluted EPS | −$0.26 | $0.33 | $1.86 | $0.64 | $0.91 | $0.39 | |
| Gross margin | 39.4% | 40.9% | 37.5% | 36.8% | 40.5% | 42.1% | |
| Operating margin | -4.4% | 6.7% | 8.9% | 18.3% | 1.5% | 7.1% |
Fiscal years (4-quarter sums)FY21 $425.5M · FY22 $595.3M · FY23 $766.9M · FY24 $975.2M · FY25 $1.10B
Revenue by product · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $350.8M · Total debt $493.7M · Total assets $1.81B · Shareholders' equity $1.24B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 49.14M · Float 48.17M · 98.0% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 5.89M | 11.98% | 13F | Aug 7, 2026 |
| Capital World Investors | 3.04M | 6.19% | 13F | Aug 12, 2026 |
| Vanguard Portfolio Management LLC | 2.94M | 5.98% | 13F | Aug 13, 2026 |
| Wellington Management Group LLP | 2.83M | 5.76% | 13F | Aug 14, 2026 |
| Wasatch Advisors LP | 2.82M | 5.70% | 13G | Jul 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 26, 2026 | William B. Cyr | director, officer: Chief Executive Officer | −39,664 | $74.72 |
| Aug 24, 2026 | William B. Cyr | director, officer: Chief Executive Officer | −43,960 | $75.85 |
| Aug 21, 2026 | William B. Cyr | director, officer: Chief Executive Officer | −43,945 | $73.90 |
| Aug 19, 2026 | William B. Cyr | director, officer: Chief Executive Officer | −44,078 | $74.72 |
| Aug 17, 2026 | William B. Cyr | director, officer: Chief Executive Officer | −44,067 | $72.83 |
Peers
- General Mills
Fresh pet food and premium natural pet nutrition rival.
- Colgate-Palmolive
Premium and therapeutic pet nutrition competitor through Hill's.
- J.M. Smucker
Dog-food and treat competitor through Milk-Bone and Meow Mix.
- Post
Branded retail pet-food competitor through Post Consumer Brands.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Freshpet | $70.82 | +0.01% | $3.48B | 18.6 | 43.8 | 3.0 | +15.5% |
| General Mills | $41.13 | −1.02% | $22.18B | — | 13.7 | 1.2 | +1.2% |
| Colgate-Palmolive | $90.85 | +0.15% | $72.62B | 36.0 | 23.1 | 3.5 | +4.9% |
| J.M. Smucker | $132.34 | −0.00% | $14.14B | 61.8 | 13.0 | 1.5 | +5.0% |
| Post | $84.16 | −1.37% | $3.87B | 15.7 | 12.1 | 0.5 | −1.8% |
| Median | 36.0 | 13.3 | 1.4 | +3.0% |