Freshpet vs Simply Good Foods
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KIRAβs take AI analyst
I put Freshpet and Simply Good Foods side by side, using each oneβs latest annual report. Here is what stands out:
- Simply Good Foods is the larger business, with $1.5B of revenue in fiscal 2025 against $1.1B for Freshpet.
- Freshpet grew revenue faster (13.0%, against 9.0%).
- Simply Good Foods kept more of each dollar of sales as operating profit (10.8% operating margin, against 6.9%).
- Simply Good Foods turned more of its sales into free cash flow (10.9% FCF margin, against 1.1%).
Who comes out ahead
Of the 11 measures where higher (or lower) is clearly better, how many each company leads.
Freshpet
FRPT
6/11
Revenue growth5-year growthGross marginNet marginReturn on equityPiotroski F-score
Simply Good Foods
SMPL
5/11
Operating marginFCF marginReturn on capitalNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | FRPT FY25 | SMPL FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.6B | $936M |
| Revenue | $1.1B | $1.5B |
| Free cash flow | $12.4M | $158M |
| Net income | $139M | $104M |
| Growth | ||
| Revenue growth | 13.0% | 9.0% |
| 5-year growth | 28.2% | 12.2% |
| Share count change | 11.5% | 0.2% |
| Profitability | ||
| Gross margin | 40.8% | 36.2% |
| Operating margin | 6.9% | 10.8% |
| Net margin | 12.6% | 7.1% |
| FCF margin | 1.1% | 10.9% |
| Return on capital | 5.9% | 6.1% |
| Return on equity | 12.3% | 5.9% |
| Balance sheet | ||
| Net debt | $150M | $151M |
| Net debt / EBITDA | 0.9x | 0.8x |
| Dividends and buybacks | $0.0M | $50.9M |
| Valuation & quality | ||
| P/E | 16.9x | β |
| Piotroski F-score | 8 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.