PRMB

MKT CAP:$7B

Primo Brands Corporation

Market Cap

$7B

Consumer Defensive·Beverages - Non-Alcoholic·🇺🇸 United States·NYSE

Consumer Def.·Beverages·🇺🇸·NYSE

Stock Price

$20.55+$4.36 (+26.90%)

Apr 20, 2026

Company Details

Primo Water Corporation provides water direct to consumers and water filtration services in North America and Europe. It offers bottled water, purified bottled water, premium spring, sparkling and flavored water, mineral water, filtration e...

CEO

Eric J. Foss

IPO Date

Nov 11, 2024

Website

primowatercorp.com

Key Metrics TTM

Revenue

$4.1B

+90.2% YoY

Net Income

$101M

EPS (Diluted)

$0.43

Free Cash Flow

$21M

Revenue / Share

$18.85

Gross Margin

34.9%

Operating Margin

10.8%

Net Margin

2.5%

FCF Margin

0.5%

P/S

1.8x

P/E

72.9x

Earnings Reports

Q3 2024

May 7, 2026

PENDING

FY 2025

Feb 27, 2026

$6.7BEPS $0.16

Q2 2024

Jun 28, 2024

$1.3BEPS $0.25

Q1 2024

Mar 30, 2024

$1.1BEPS $0.15

FY 2023

Dec 30, 2023

$4.7BEPS $0.40

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 17	$896M	$310M	$19M
Q3 20	$518M	$304M	$49M
Q1 21	$478M	$265M	$15M
Q2 21	$526M	$297M	$38M
Q3 21	$551M	$308M	$46M
Q4 21	$518M	$287M	$25M
Q1 22	$526M	$300M	$21M
Q2 22	$571M	$332M	$41M
Q3 22	$585M	$348M	$51M
Q4 23	$1.1B	$314M	$91M
Q1 24	$1.1B	$346M	$131M
Q2 24	$1.3B	$430M	$172M

Valuation

Quarter	P/S	P/E
Q1 17	—	—
Q3 20	—	—
Q1 21	—	—
Q2 21	3.1x	—
Q3 21	3.6x	335.9x
Q4 21	3.6x	—
Q1 22	3.5x	24633.7x
Q2 22	3.4x	—
Q3 22	3.4x	—
Q4 23	2.7x	—
Q1 24	2.2x	302.9x
Q2 24	1.8x	72.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 17	-$4M	-$44M
Q3 20	$57M	$34M
Q1 21	$30M	$3M
Q2 21	$59M	$23M
Q3 21	$80M	$45M
Q4 21	$77M	$25M
Q1 22	$24M	-$15M
Q2 22	$66M	$20M
Q3 22	$90M	$22M
Q4 23	$58M	-$40M
Q1 24	$6M	-$18M
Q2 24	$97M	$56M

Capital Expenditures

Quarter	CapEx
Q1 17	$41M
Q3 20	$24M
Q1 21	$27M
Q2 21	$36M
Q3 21	$35M
Q4 21	$53M
Q1 22	$39M
Q2 22	$46M
Q3 22	$68M
Q4 23	$98M
Q1 24	$24M
Q2 24	$41M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	-38.6%	-42.4%
Q4 21	+0.1%	+5.1%
Q1 22	+10.0%	+9.0%
Q2 22	+8.6%	+8.7%
Q3 22	+6.1%	+5.6%
Q4 23	+109.7%	+101.9%
Q1 24	+115.9%	+99.1%
Q2 24	+130.0%	+115.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 17	$0	0.0%
Q3 20	$0	0.0%
Q1 21	$0	0.0%
Q2 21	$0	0.0%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$300.0K	0.0%
Q2 24	$0	0.0%

OpEx Breakdown

Quarter	SG&A
Q1 17	$291M
Q3 20	$256M
Q1 21	$249M
Q2 21	$259M
Q3 21	$263M
Q4 21	$262M
Q1 22	$278M
Q2 22	$292M
Q3 22	$297M
Q4 23	$215M
Q1 24	$219M
Q2 24	$256M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$98M	$0	$98M
Q2 22	$99M	$0	$99M
Q3 22	$96M	$0	$96M
Q4 22	$79M	$0	$79M
Q1 23	$97M	$0	$97M
Q2 23	$87M	$0	$87M
Q3 23	$98M	$0	$98M
Q4 23	$47M	$0	$47M
Q1 24	$498M	$0	$498M
Q2 24	$603M	$0	$603M
Q3 24	$667M	$0	$667M
Q4 24	$614M	$0	$614M
Q1 25	$450M	$0	$450M
Q2 25	$412M	$0	$412M
Q3 25	$423M	$0	$423M
Q4 25	$377M	$0	$377M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 17	139M	—	—
Q3 20	161M	+16.4%	—
Q1 21	161M	-0.5%	—
Q2 21	162M	+0.6%	—
Q3 21	162M	+0.2%	+16.7%
Q4 21	161M	-0.7%	-0.4%
Q1 22	161M	+0.1%	+0.2%
Q2 22	161M	+0.1%	-0.3%
Q3 22	162M	+0.5%	+0.0%
Q4 23	161M	-0.9%	-0.1%
Q1 24	219M	+36.2%	+35.8%
Q2 24	219M	0.0%	+35.7%

Shares Outstanding