Primo Brands CorporationPRMB
NYSE•Consumer Defensive•Beverages - Non-Alcoholic
Primo Brands Corporation operates as a branded beverage company in North America. It offers bottle water solutions and water filtration services; and premium spring and sparkling water, purified water, self-service refill drinking water, flavored and enhanced beverages, water dispensers, and filtration equipment. The company has a portfolio of packaged branded beverages under the Poland Spring, Pure Life, Saratoga, Mountain Valley, Arrowhead, Deer Park, Ice Mountain, Ozarka, and Zephyrhills brands; purified brands, including Primo Water and Sparkletts; and flavored and enhanced brands, such as AC+ION and Splash Refresher. It distributes direct-to-consumer, retail, commercial and residential customers, and e-commerce and digital platforms. The company is based in Stamford, Connecticut.
Primo Brands Corporation (PRMB) reported trailing twelve months revenue of $6.68B as of March 2026, a Infinity% increase year-over-year. Quarterly revenue reached $1.63B, reflecting continued top-line momentum.
Primo Brands Corporation generated $58.70M in TTM net income, with quarterly EBITDA of $279.00M. The operating margin contracted from 9.5% to 8.5%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (8.5%) and net margin (1.7%) indicates moderate non-operating costs. Net margin has narrowed from 1.8% a year ago, reflecting increased costs or interest expense.
PRMB trades at a P/E of 146.8x (a premium multiple) and a P/S of 1.3x. The price-to-book ratio of 2.9x reflects a moderate premium to book value.
The company reported negative free cash flow of $-700,000, indicating cash consumption over the period. The balance sheet shows $10.59B in total assets with $5.08B in long-term debt against $2.96B in stockholders equity for a debt-to-equity ratio of 1.7. Data based on the most recent quarterly reports.
Competitive analysis based on 7 quarters of fundamental data
Operating margins are under pressure, averaging -28565.6%. The business may lack pricing power or face rising costs.'
ROE is positive at ~1.8% on average, adequate but below the threshold typically associated with wide moats.
Only 4 of the last 7 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 7 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF consistently trails net income (avg -1.5x) — earnings may be inflated by non-cash items or aggressive accounting.
D/E ratio is 1.7 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
FCF turned negative in 2 of the last 7 quarters — occasional cash consumption.
Shares outstanding increased 242385900.0% — significant dilution, likely from stock compensation or capital raises.