BellRing Brands, Inc. (BRBR) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+1135.7%

$116.96

vs $9.47 price

Levered DCF

$137.59

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.66

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	21.38×	32.13×	33.25×	23.97×	10.6×	8.17×	5.29×	5.89×
P/B	-10.16×	-38.43×	-16.95×	-7.41×	-0.4×	-0.37×	1.34×	1.25×
P/S	1.99×	3.96×	3.29×	2.03×	0.97×	0.83×	0.76×	0.68×
EV / EBITDA	14.99×	20.46×	19.96×	17.08×	7.59×	7.76×	3.32×	3.81×
Gross margin	33.3%	35.4%	31.8%	30.8%	31.0%	32.0%	36.5%	33.6%
Operating margin	15.4%	19.4%	17.2%	15.5%	13.5%	16.8%	19.0%	14.5%
Net margin	9.3%	12.3%	9.9%	6.0%	2.2%	2.4%	14.4%	11.6%
Current ratio	2.35×	2.91×	2.82×	2.94×	1.54×	1.9×	2.37×	1.74×
Debt / equity	-2.45×	-4.08×	-2.67×	-2.49×	-0.2×	-0.32×	0×	0×
Interest coverage	5.23×	6.65×	4.29×	4.32×	3.89×	3.03×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	2.0%	3.9%	15.4%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	89.1%	136.6%	81.4%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-47.6%	-119.7%	-51.2%	-21.9%	-0.9%	-1.1%	25.3%	21.3%
Return on invested capital	40.5%	45.7%	39.7%	29.9%	27.7%	26.8%	24.5%	20.6%
Return on assets	23.0%	29.5%	23.9%	11.6%	4.0%	3.6%	20.7%	17.1%
Free cash flow yield	5.5%	2.5%	3.9%	0.7%	18.5%	11.6%	14.6%	24.1%
Earnings yield	4.7%	3.1%	3.0%	3.0%	2.3%	2.9%	18.9%	17.0%
Enterprise value	$5.6B	$8.7B	$6.3B	$3.7B	$1.7B	$1.5B	$645.5M	$555.8M
Net debt / EBITDA	2.73×	1.81×	2.59×	4.17×	2.07×	3.44×	-0.03×	-0.07×
Cash conversion cycle (days)	85	87	72	88	41	82	81	41