Freshpet, Inc.
FRPT · Grain Mill Products · 49.1M shares · +8%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$25M (gross $256K, SBC $25M)
Reference price $50.51 · est. market cap ~$2.5B — last insider sale, 2026-05-22 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B80Category-leading fresh pet-food franchise with a hard-to-replicate refrigerated fridge/distribution network, scaled to ~$1.1bn sales and now solidly profitable.
Strengths
- ROA 7.8% (85th pct), net margin 12.6% (77th pct) and net-income growth 197% (87th)
- Durable moat: ~30,000 company-owned Freshpet Fridges and refrigerated logistics
- Pristine balance sheet (current ratio 5.5, quick ratio 4.6) and double-digit revenue growth
Risks
- FY2025 net income flattered by a $68.8m deferred-tax valuation-allowance release
- Gross margin 40.8% (49th pct) and operating margin only mid-pack — returns still maturing
- High capital intensity to fund Kitchen/Fridge expansion and input-cost/tariff exposure
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $278M cash & investments
- Insider buyingInsider buying — 9 open-market buy(s) by 6 insider(s) (cluster of 6 insiders, ~$508,024, last 6mo) Form 4 ↗
- Insider sellingInsider selling — 36 open-market sale(s) by 1 insider(s) (~$14M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
40.8%
Operating margin
6.9%
Net margin
12.6%
Return on equity
11.5%
Return on assets
7.8%
Revenue growth (QoQ)
4.4%
Net-income growth
196.5%
Current ratio
5.5×
EBITDA
$162M
Tangible book value
$1.2B
Cash & investments
$278M
Stock comp / revenue
1.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-05-22 | Cyr William B. | Sell | 29K | $51.26 |
| 2026-05-22 | Cyr William B. | Option exercise | 4.6K | $10.23 |
| 2026-05-22 | Cyr William B. | Sell | 923 | $51.18 |
| 2026-05-22 | Cyr William B. | Option exercise | 62K | $10.23 |
| 2026-05-22 | Cyr William B. | Option exercise | 9.0K | $10.23 |
| 2026-05-22 | Cyr William B. | Sell | 13K | $50.51 |
| 2026-05-22 | Cyr William B. | Sell | 1.8K | $51.18 |
| 2026-05-22 | Cyr William B. | Option exercise | 8.0K | $10.23 |
| 2026-05-22 | Cyr William B. | Sell | 1.6K | $51.18 |
| 2026-05-20 | Cyr William B. | Option exercise | 62K | $10.23 |
| 2026-05-20 | Cyr William B. | Sell | 43K | $47.92 |
| 2026-05-20 | Cyr William B. | Option exercise | 4.6K | $10.23 |
| 2026-05-20 | Cyr William B. | Sell | 999 | $47.52 |
| 2026-05-20 | Cyr William B. | Option exercise | 9.0K | $10.23 |
| 2026-05-20 | Cyr William B. | Sell | 2.0K | $47.52 |
| 2026-05-20 | Cyr William B. | Option exercise | 8.0K | $10.23 |
| 2026-05-20 | Cyr William B. | Sell | 1.7K | $47.52 |
| 2026-05-20 | BREWSTER DARYL G | Buy | 211 | $47.52 |
| 2026-05-20 | Steeneck Craig D. | Buy | 2.0K | $47.83 |
| 2026-05-18 | Cyr William B. | Sell | 1.5K | $49.09 |
| 2026-05-18 | MCLEVISH TIMOTHY R | Buy | 3.0K | $48.67 |
| 2026-05-18 | Biegger David | Buy | 690 | $48.50 |
| 2026-05-18 | Biegger David | Buy | 172 | $50.06 |
| 2026-05-18 | Biegger David | Buy | 138 | $51.21 |
| 2026-05-18 | Kelley Jacki Sue | Buy | 1.0K | $48.05 |
| 2026-05-18 | Cyr William B. | Option exercise | 62K | $10.23 |
| 2026-05-18 | Cyr William B. | Sell | 32K | $48.46 |
| 2026-05-18 | Cyr William B. | Sell | 7.5K | $50.36 |
| 2026-05-18 | Cyr William B. | Sell | 1.3K | $51.32 |
| 2026-05-18 | Cyr William B. | Option exercise | 4.6K | $10.23 |
| 2026-05-18 | Cyr William B. | Sell | 959 | $50.04 |
| 2026-05-18 | Cyr William B. | Option exercise | 9.0K | $10.23 |
| 2026-05-18 | Cyr William B. | Sell | 1.9K | $50.04 |
| 2026-05-18 | Cyr William B. | Option exercise | 8.0K | $10.23 |
| 2026-05-18 | Cyr William B. | Sell | 1.7K | $50.04 |
| 2026-05-15 | Cyr William B. | Option exercise | 62K | $10.23 |
| 2026-05-15 | Cyr William B. | Option exercise | 9.0K | $10.23 |
| 2026-05-15 | Cyr William B. | Sell | 1.9K | $49.09 |
| 2026-05-15 | Cyr William B. | Option exercise | 4.6K | $10.23 |
| 2026-05-15 | Cyr William B. | Sell | 300 | $49.85 |
| 2026-05-15 | Cyr William B. | Option exercise | 8.0K | $10.23 |
| 2026-05-15 | Cyr William B. | Sell | 1.7K | $49.09 |
| 2026-05-15 | Cyr William B. | Sell | 36K | $49.46 |
| 2026-05-15 | Cyr William B. | Sell | 6.1K | $48.44 |
| 2026-05-15 | Cyr William B. | Sell | 959 | $49.09 |
| 2026-05-13 | Cyr William B. | Sell | 1.6K | $50.63 |
| 2026-05-13 | Cyr William B. | Option exercise | 8.0K | $10.23 |
| 2026-05-13 | Cyr William B. | Option exercise | 62K | $10.23 |
| 2026-05-13 | Cyr William B. | Sell | 31K | $48.51 |
| 2026-05-13 | Cyr William B. | Sell | 7.4K | $49.26 |
| 2026-05-13 | Cyr William B. | Sell | 3.7K | $50.32 |
| 2026-05-13 | Cyr William B. | Sell | 195 | $51.07 |
| 2026-05-13 | Cyr William B. | Option exercise | 4.6K | $10.23 |
| 2026-05-13 | Cyr William B. | Sell | 923 | $50.63 |
| 2026-05-13 | Cyr William B. | Option exercise | 9.0K | $10.23 |
| 2026-05-13 | Cyr William B. | Sell | 1.8K | $50.63 |
| 2026-05-11 | Cyr William B. | Option exercise | 8.0K | $10.23 |
| 2026-05-11 | Cyr William B. | Option exercise | 62K | $10.23 |
| 2026-05-11 | Cyr William B. | Sell | 22K | $49.97 |
| 2026-05-11 | Cyr William B. | Sell | 18K | $50.96 |
| 2026-05-11 | Cyr William B. | Sell | 744 | $51.74 |
| 2026-05-11 | Cyr William B. | Sell | 1.7K | $52.79 |
| 2026-05-11 | Cyr William B. | Option exercise | 4.6K | $10.23 |
| 2026-05-11 | Cyr William B. | Sell | 892 | $52.73 |
| 2026-05-11 | Cyr William B. | Option exercise | 9.0K | $10.23 |
| 2026-05-11 | Cyr William B. | Sell | 1.7K | $52.72 |
| 2026-05-11 | Cyr William B. | Sell | 1.5K | $52.73 |
| 2026-05-08 | GEORGE WALTER N. | Buy | 2.0K | $54.67 |
| 2026-03-15 | Morris Scott James | Tax withheld | 496 | $76.60 |
| 2026-03-15 | Alexander Lisa Axt | Tax withheld | 181 | $76.60 |
| 2026-03-15 | Baty Nicola J. | Tax withheld | 418 | $76.60 |
| 2026-03-15 | Cyr William B. | Tax withheld | 2.5K | $76.60 |
| 2026-03-15 | Patel Nishu D. | Tax withheld | 111 | $76.60 |
| 2026-03-15 | Walsh Cathal | Tax withheld | 366 | $76.60 |
| 2026-03-15 | Alexander Lisa Axt | Tax withheld | 108 | $76.60 |
| 2026-03-15 | Walsh Cathal | Tax withheld | 222 | $76.60 |
| 2026-03-15 | Patel Nishu D. | Tax withheld | 78 | $76.60 |
| 2026-03-15 | Machaba Thembeka | Tax withheld | 166 | $76.60 |
| 2026-03-13 | Walsh Cathal | Tax withheld | 516 | $76.60 |
| 2026-03-10 | Machaba Thembeka | Grant | 2.0K | — |
| 2026-03-10 | Morris Scott James | Grant | 5.5K | — |
| 2026-03-10 | Cyr William B. | Grant | 24K | — |
| 2026-03-10 | GEORGE WALTER N. | Grant | 1.6K | — |
| 2026-03-10 | MCLEVISH TIMOTHY R | Grant | 1.6K | — |
| 2026-03-10 | Fajemirokun-Beck Olufunlayo Olurinde | Grant | 1.6K | — |
| 2026-03-10 | Patel Nishu D. | Grant | 983 | — |
| 2026-03-10 | Baty Nicola J. | Grant | 5.4K | — |
| 2026-03-10 | Priest Leta D | Grant | 1.6K | — |
| 2026-03-10 | Kotcher Lauri Kien | Grant | 1.6K | — |
| 2026-03-10 | Alexander Lisa Axt | Grant | 1.2K | — |
| 2026-03-10 | SCALZO JOSEPH | Grant | 1.6K | — |
| 2026-03-10 | O'Connor John Gregory | Grant | 4.8K | — |
| 2026-03-10 | Kelley Jacki Sue | Grant | 1.6K | — |
| 2026-03-10 | WEST DAVID J | Grant | 1.6K | — |
| 2026-03-10 | BREWSTER DARYL G | Grant | 1.6K | — |
| 2026-03-10 | Biegger David | Grant | 1.6K | — |
| 2026-03-10 | Walsh Cathal | Grant | 1.3K | — |
| 2026-03-10 | Steeneck Craig D. | Grant | 1.6K | — |
| 2026-02-25 | GEORGE WALTER N. | Buy | 630 | $79.04 |
| 2026-02-09 | O'Connor John Gregory | Grant | 7.5K | — |
| 2026-01-03 | Machaba Thembeka | Tax withheld | 779 | $60.15 |
| 2026-01-03 | Morris Scott James | Tax withheld | 1.6K | $60.15 |
| 2026-01-03 | Cyr William B. | Tax withheld | 2.9K | $60.15 |
| 2025-12-08 | Baty Nicola J. | Grant | 14K | — |
| 2025-12-05 | Morris Scott James | Option exercise | 36K | $8.90 |
| 2025-12-05 | Morris Scott James | Sell | 5.1K | $62.33 |
| 2025-11-06 | Morris Scott James | Option exercise | 36K | $8.90 |
| 2025-11-06 | Morris Scott James | Sell | 17K | $55.19 |
| 2025-11-06 | Morris Scott James | Option exercise | 80K | $11.00 |
| 2025-11-06 | Morris Scott James | Sell | 45K | $55.21 |
| 2025-11-06 | Morris Scott James | Option exercise | 1.7K | $11.00 |
| 2025-11-06 | Morris Scott James | Sell | 982 | $55.36 |
| 2025-10-17 | Garcia Ivan | Grant | 3.0K | — |
| 2025-09-15 | Fajemirokun-Beck Olufunlayo Olurinde | Buy | 378 | $53.12 |
| 2025-09-10 | BREWSTER DARYL G | Buy | 216 | $57.00 |
| 2025-09-10 | Alexander Lisa Axt | Buy | 100 | $53.53 |
| 2025-09-10 | MCLEVISH TIMOTHY R | Buy | 3.5K | $56.00 |
| 2025-09-09 | Kelley Jacki Sue | Buy | 814 | $56.50 |
| 2025-09-08 | GEORGE WALTER N. | Buy | 1.0K | $52.57 |
| 2025-09-01 | Baty Nicola J. | Tax withheld | 1.4K | $56.43 |
| 2025-09-01 | Baty Nicola J. | Tax withheld | 395 | $56.43 |
| 2025-06-28 | Patel Nishu D. | Tax withheld | 193 | $68.39 |
| 2025-06-28 | Patel Nishu D. | Tax withheld | 193 | $68.39 |
| 2025-03-15 | Cunfer Todd E | Tax withheld | 649 | $87.84 |
| 2025-03-15 | Patel Nishu D. | Tax withheld | 67 | $87.84 |
| 2025-03-15 | Alexander Lisa Axt | Tax withheld | 162 | $87.84 |
| 2025-03-15 | Walsh Cathal | Tax withheld | 353 | $87.84 |
| 2025-03-14 | Walsh Cathal | Tax withheld | 322 | $87.84 |
| 2025-03-14 | MCLEVISH TIMOTHY R | Buy | 500 | $89.13 |
| 2025-03-14 | MCLEVISH TIMOTHY R | Buy | 1.2K | $88.20 |
| 2025-03-13 | Walsh Cathal | Tax withheld | 497 | $86.50 |
| 2025-03-13 | Cunfer Todd E | Tax withheld | 1.0K | $86.50 |
| 2025-03-11 | WEST DAVID J | Grant | 1.4K | — |
| 2025-03-11 | Walsh Cathal | Grant | 1.3K | — |
| 2025-03-11 | Patel Nishu D. | Grant | 926 | — |
| 2025-03-11 | Alexander Lisa Axt | Grant | 1.2K | — |
| 2025-03-11 | Morris Scott James | Grant | 5.2K | — |
| 2025-03-11 | Machaba Thembeka | Grant | 1.8K | — |
| 2025-03-11 | Cyr William B. | Grant | 21K | — |
| 2025-03-11 | Cunfer Todd E | Grant | 4.9K | — |
| 2025-03-11 | Baty Nicola J. | Grant | 4.1K | — |
| 2025-03-11 | Steeneck Craig D. | Grant | 1.4K | — |
| 2025-03-11 | SCALZO JOSEPH | Grant | 1.4K | — |
| 2025-03-11 | Priest Leta D | Grant | 1.4K | — |
| 2025-03-11 | MCLEVISH TIMOTHY R | Grant | 1.4K | — |
| 2025-03-11 | Kotcher Lauri Kien | Grant | 1.4K | — |
| 2025-03-11 | Kelley Jacki Sue | Grant | 1.4K | — |
| 2025-03-11 | BREWSTER DARYL G | Grant | 1.4K | — |
| 2025-03-11 | Biegger David | Grant | 1.4K | — |
| 2025-03-11 | Fajemirokun-Beck Olufunlayo Olurinde | Grant | 1.4K | — |
| 2025-03-11 | GEORGE WALTER N. | Grant | 1.4K | — |
| 2025-03-10 | GEORGE WALTER N. | Buy | 500 | $89.26 |
| 2025-03-06 | GEORGE WALTER N. | Buy | 500 | $95.35 |
| 2025-02-26 | Fajemirokun-Beck Olufunlayo Olurinde | Buy | 227 | $109.76 |
| 2025-02-25 | MCLEVISH TIMOTHY R | Buy | 250 | $105.00 |
| 2025-02-25 | MCLEVISH TIMOTHY R | Buy | 500 | $102.50 |
| 2025-02-25 | MCLEVISH TIMOTHY R | Buy | 250 | $103.55 |
| 2025-02-25 | MCLEVISH TIMOTHY R | Buy | 750 | $106.67 |
| 2025-02-25 | GEORGE WALTER N. | Buy | 500 | $101.99 |
| 2025-02-24 | MCLEVISH TIMOTHY R | Buy | 250 | $105.00 |
| 2025-02-24 | Steeneck Craig D. | Buy | 2.0K | $106.28 |
| 2025-02-24 | BREWSTER DARYL G | Buy | 241 | $104.97 |
| 2025-02-24 | Biegger David | Buy | 1.5K | $107.49 |
| 2025-01-03 | Cyr William B. | Grant | 28K | — |
| 2025-01-03 | Machaba Thembeka | Grant | 7.1K | — |
| 2025-01-03 | Morris Scott James | Grant | 14K | — |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-24 | Exec/director changeExhibits | filing ↗ |
| 2026-06-11 | Shareholder vote | filing ↗ |
| 2026-05-06 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-23 | ResultsReg FDExhibits | filing ↗ |
| 2026-02-04 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-12-12 | Exec/director change | filing ↗ |
| 2025-11-03 | ResultsReg FDExhibits | filing ↗ |
| 2025-10-07 | Exec/director change | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-24 | 2026-06-22 | 0000929638-26-002308 ↗ |
| 8-K | 2026-06-11 | 2026-06-10 | 0000929638-26-002206 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001611647-26-000008 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001611647-26-000012 ↗ |
| 8-K | 2026-02-23 | 2026-02-23 | 0001611647-26-000002 ↗ |
| 10-K | 2026-02-23 | 2025-12-31 | 0001611647-26-000006 ↗ |
| 8-K | 2026-02-04 | 2026-02-04 | 0000929638-26-000488 ↗ |
| 8-K | 2025-12-12 | 2025-12-08 | 0000929638-25-004586 ↗ |
| 8-K | 2025-11-03 | 2025-11-03 | 0001611647-25-000027 ↗ |
| 10-Q | 2025-11-03 | 2025-09-30 | 0001611647-25-000030 ↗ |
| 8-K | 2025-10-07 | 2025-10-03 | 0000929638-25-003841 ↗ |
| 10-Q | 2025-08-04 | 2025-06-30 | 0001611647-25-000021 ↗ |