PRMB
Primo Brands Corp
Next earnings Aug 3, 2026 · consensus $0.33 EPS, $1.80B rev
Last earnings +12.3% on 2026-05-07
$24.95
▼ -0.12%$24.95▼ -15.92%
over 1Y
L $14.21EODHDH $30.06
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today-0.1%
1W+6.0%
1M+2.3%
3M+37.4%
YTD+55.7%
1Y-15.9%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 18 analysts
Buy
Merger-built water giant with surging revenue and cash flow, but heavy debt and amortization mask a 0.9% net margin.
The read
Middling fundamentals and a rich price (~80% above fair value) leave little margin of safety — a wait-and-see.
Primo Brands is the combined Primo Water/BlueTriton beverage-water business, and FY2025 reflects the first full year of scale: revenue jumped 29.3% to $6.66B and operating income rose 19.5% to $430M, while operating cash flow surged 46.7% to $680M. The real story is below the operating line — GAAP net income was just $60.1M (0.9% net margin, $0.16 EPS) because depreciation and amortization ballooned 83.1% to $610M, much of it non-cash purchase-accounting amortization from the merger. That makes the 151.7x P/E misleading; the 1.3x P/S and strong cash conversion are the more relevant gauges.
Financials · annual, by fiscal year
| Line item | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Revenue | $4.44B | $4.70B | $5.15B | $6.66B |
| Gross profit | $994M | $1.35B | $1.62B | $2.02B |
| Operating income | $23.3M | $406M | $360M | $430M |
| Net income | -$127M | $92.8M | -$16.4M | $60.1M |
| Diluted EPS | -$0.74 | $0.29 | -$0.07 | $0.16 |
| Net margin | -2.9% | 2.0% | -0.3% | 0.9% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$13.8B
EV / EBITDA13.3
EV / Sales2.1
EV / FCF45.7
P / FCF29.9
PEG (trailing)0.33
Earnings yield0.7%
FCF yield3.3%
Quality & risk
ROIC (est.)4.2%
Free cash flow$303M
Total debt$5.16B
Net cash-$4.78B
Altman Z-Score1.20 distress
Piotroski F-Score6/9
Capital returns
Buyback yield4.6%
Dividend yield (est.)1.7%
Shareholder yield6.3%
Shares Δ YoY-4.4%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-05-152026-05-19open ↗3Period ending 2026-05-152026-05-19open ↗8-KPeriod ending 2026-05-152026-05-19open ↗10-QPeriod ending 2026-03-312026-05-07open ↗8-KPeriod ending 2026-05-072026-05-07open ↗SCHEDULE 13G/AFiling2026-05-06open ↗4Period ending 2026-04-282026-04-30open ↗4Period ending 2026-04-282026-04-30open ↗4Period ending 2026-04-282026-04-30open ↗4Period ending 2026-04-282026-04-30open ↗4Period ending 2026-04-282026-04-30open ↗4Period ending 2026-04-282026-04-30open ↗
Frequently asked
- Is Primo Brands Corp (PRMB) a buy?
- PRMB currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Merger-built water giant with surging revenue and cash flow, but heavy debt and amortization mask a 0.9% net margin.
- What is PRMB's fair value?
- A Modified-Graham model based on PRMB's SEC fundamentals estimates a fair value of about $5.11. It is an estimate from reported earnings, not a price target.
- Is PRMB overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, PRMB currently appears overvalued relative to its SEC-grounded earnings power.
- What is Primo Brands Corp's quality score?
- PRMB scores 63.94117647058823/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0002042694, latest 10-Q filed 2026-05-07) · EODHD · analysis by claude-code · as of 6/21/2026, 8:50:24 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.