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what it is
BellRing sells protein shakes, powders, bars, and supplements through retail and online stores.
how it gets paid
Last year Bellring Brands made $2.3B in revenue. Ready-to-drink beverages and shakes was the main engine at $1.15B, or 50% of sales.
why it's growing
Revenue grew 16.1% last year. Revenue rose 1% vs. prior year. Gross margin was 29.9%.
what just happened
Q1 revenue hit $537M, but EPS came in at $0.36 while the Street wanted more.
At a glance
B+ balance sheet — decent shape, but not bulletproof
85/100 earnings predictability — you can trust these numbers
13.1x trailing p/e — the market's not buying it — or you found a deal
33.0% return on capital — every dollar works hard here
xvary composite: 51/100 — below average
What they do
BellRing sells protein shakes, powders, bars, and supplements through retail and online stores.
You can buy BellRing in 5 channels: food, club, online, specialty, and convenience. That is 5 separate doors into the same habit. Your pantry and your checkout line keep the brand close.
How they make money
$2.3B
annual revenue · their business grew +16.1% last year
Ready-to-drink beverages and shakes
$1.15B
Protein powders
$0.46B
Nutrition bars
$0.35B
Nutritional supplements and other
$0.34B
The products that matter
ready-to-drink protein shakes
Premier Protein
core brand · drives most of the business mix shown here
it's the center of gravity in a company generating $2.3B in revenue and 16% growth. when investors talk about BRBR, they are mostly talking about shakes.
core
protein powders and supplements
Dymatize
part of the remaining $0.5B powders & other bucket
the page does not break out brand-level revenue, so we won't pretend it does. what you can say: powders and other products accounted for $0.5B and grew 10%.
secondary
Key numbers
$2.25
fy2026 eps est
$3B
fy2028 rev est
13.1x
trailing p/e
29.9%
gross margin
Gross profit kept about 29.9% of each revenue dollar.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 40 / 100
- long-term debt $1.1B (25% of capital)
- net profit margin 11.4% — keeps 11 cents of every dollar in revenue
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in BRBR 3 years ago → it's now worth $10,520.
The index would have given you $13,920.
source: institutional data · total return
What just happened
missed estimates
Q1 revenue hit $537M, but EPS came in at $0.36 while the Street wanted more.
Revenue rose 1% vs. prior year. Gross margin was 29.9%, so the business still throws off decent gross profit even when growth is slow.
$537M
revenue
$0.36
eps
29.9%
gross margin
the number that mattered
29.9% gross margin is the tell, because it shows pricing power is still doing work even when EPS fell 39%.
-
better results appear plausible for bellring in fiscal 2026 (began october 1st).the top line ought to be driven by healthy sales of premier protein products (supported mainly by solid volume growth).
-
but input costs may continue to face inflationary pressures.
-
still, we expect full-year earnings per share to advance 8%, to $2.25, versus fiscal 2025's $2.08 figure. (that's despite the company having a hard first-quarter comparison.) looking at fiscal 2027, the bottom line stands to rise another 11%, to $2.50 per share.
-
this is based partly on our assumption that operating conditions cooperate.
-
further common-stock buybacks should also help. Prospects out to 2028-2030 seem promising, as well.
source: company earnings report, 2026
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What could go wrong
the top threat is gross-margin compression in ready-to-drink protein shakes.
med
margin pressure stays the story
Gross margin fell to 29.9% in q1 2026, down 760 basis points from a year ago, as input costs and competition tightened.
That was enough to turn 0.8% revenue growth into a 43.2% net-income drop. If margin does not recover, the low multiple is justified.
med
the business is more concentrated than it looks
Ready-to-drink shakes account for $1.8B of the $2.3B product revenue shown on this page — about 78% of the mix.
When one category dominates the business, shelf-space pressure or price cuts travel fast through the income statement.
med
legal and leadership noise at the wrong time
Securities class-action suits are active, and the CEO plans to retire once a successor is named.
Neither issue alone breaks the business. Together, they add distraction during a quarter when execution already looked shaky.
a 7.6-point gross-margin hit was the difference between an EPS beat and a quarter investors still did not trust.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin
gross margin needs to stop falling
29.9% is the number to watch. If the next print does not improve from here, the market will keep treating this as a damaged story.
calendar
q2 2026 earnings window
The current estimate window is May 4–7. You want to see whether cost pressure eases faster than revenue growth slows.
legal
class-action lead plaintiff deadline
March 23, 2026 is the deadline tied to the securities litigation. It will not resolve the case, but it may reduce some headline uncertainty.
capital return
whether the $400M buyback becomes more than optics
Repurchases help if management is buying into a temporary margin dip. They help much less if margin pressure is the new normal.
Analyst rankings
short-term outlook
below average
momentum score 4 — in human-speak, analysts think the next 12 months look choppier than the average stock.
risk profile
average
stability score 3 — this is middle-of-the-pack risk, not a bunker stock and not a collapse candidate.
chart momentum
average
technical score 3 — the chart is not rescuing the story. you need fundamentals to improve.
earnings predictability
85 / 100
the company is usually consistent on reported numbers. the problem right now is not surprise. it's margin quality.
source: institutional data
Institutional activity
institutions have been net selling for 3 consecutive quarters — 227 buyers vs. 270 sellers in 3q2025. total institutional holdings: 0.1B shares. net selling for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$20
$59
$27
current price
$40
target midpoint · +46% from current · 3-5yr high: $70 (+155% · 27% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
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