Primo Brands Corporation (PRMB) Stock Price & Analysis
Primo Brands Corporation (PRMB) closed at USD 20.14 on Thursday, October 22, 2026, up 0.55% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 20.03; the Oct 22, 2026 session ranged USD 19.88–20.32 on volume of 4,202,302 shares. Market capitalization is $7.29B, with a 52-week range of USD 14.36–26.21 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:23 UTC.
Also available as compact Markdown for AI agents: nexqual.com/PRMB.md
Key facts (PRMB)
- Last four reported quarters (through Jun 30, 2026): revenue $6.74B, net income $100M (1.5% margin), free cash flow $367M (SEC filings).
- Valuation: P/E 72.7x (avg 68.7x at the last 2 fiscal year-ends), EV/EBITDA 11.0x, net debt $4.79B.
- 2 of 80 tracked superinvestors hold PRMB (13F, Q2 2026): 1 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $995M; 2 not under a Rule 10b5-1 plan ($995M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 1 Form 4 filing, $2.0M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 1.75 on a 1–5 scale) (12 analysts), mean target USD 29.36 (range 21–35).
- Total return with dividends: 1Y -7.6% vs S&P 500 +14.9%; 5Y +43.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.43, revenue estimate $1.82B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (PRMB)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|
| Revenue | $4.44B | $4.70B | $5.15B | $6.66B | $6.74B |
| Gross profit | $994M | $1.35B | $1.62B | $2.02B | — |
| Operating income | $23.3M | $406M | $360M | $430M | $483M |
| Net income | -$127M | $92.8M | -$16.4M | $60.1M | $100M |
| EPS (diluted) | -$0.74 | $0.29 | -$0.07 | $0.16 | — |
| Free cash flow | -$150M | $117M | $314M | $303M | $367M |
| Gross margin | 22.4% | 28.8% | 31.5% | 30.3% | — |
| Operating margin | 0.5% | 8.6% | 7.0% | 6.5% | 7.2% |
| Net margin | -2.9% | 2.0% | -0.3% | 0.9% | 1.5% |
| Revenue growth | — | +5.8% | +9.7% | +29.3% | — |
| Cash + short-term investments | $106M | $44.7M | $614M | $377M | — |
| Total debt | — | $3.48B | $5.04B | $5.16B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (PRMB)
P/E 72.7x · P/S 1.1x · EV/EBITDA 11.0x · EV/Sales 1.8x · P/FCF 19.9x · P/B 2.5x · FCF yield 5.03% · Earnings yield 1.38% · Dividend yield (paid, TTM) 2.24% · Buyback yield (TTM) 3.41% · Net debt $4.79B · EV $12.1B
P/E at fiscal year-ends: Dec 2025 102.0x, Dec 2023 35.4x.
Superinvestors (SEC 13F-HR, Q2 2026) (PRMB)
2 of 80 tracked investors hold PRMB. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 1.77% | $69.0M | New position |
| Lee Ainslie | Maverick Capital | 0.04% | $4.1M | Reduced -25.5% |
Insider sales (SEC Form 4, open-market, last ~7 months) (PRMB)
0 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-07 | Orcp Iii De Topco Gp, Llc | 20,410,340 | $497M | 17.6% | No | Too little history (no open-market trades in 2023 or 2024) | |
| 2026-08-07 | Lee Tony W | Director | 20,410,340 | $497M | 17.6% | No | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (PRMB)
1 purchase, $2.0M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-08-10 | Foss Eric J | Exec. Chair and CEO | 84,000 | $2.0M | 23.8 | Too little history (no open-market trades in 2023 or 2024) |
Analysts (PRMB)
Consensus Buy (mean 1.75 on a 1–5 scale), 12 analysts; mean target USD 29.36 (low 21, high 35).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-16 | Barclays | Target lowered | Overweight | $29 → $26 |
| 2026-08-07 | RBC Capital | Target raised | Outperform | $28 → $31 |
| 2026-08-07 | Barclays | Target raised | Overweight | $27 → $29 |
| 2026-07-21 | Barclays | Target raised | Overweight | $25 → $27 |
| 2026-07-16 | JP Morgan | Target raised | Overweight | $26 → $29 |
Total return (dividends reinvested) (PRMB)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -7.6% | +43.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -7.6% | +7.5% |
| Volatility (annualized) | 51.0% | 38.1% |
| Max drawdown | -36.2% (Nov 2025→Nov 2025) | -58.7% (Mar 2025→Nov 2025) |
PRMB revenue by product line (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Regional spring water | $911.0M | 50.7% | +4.1% |
| Purified water | $556.1M | 31.0% | +1.9% |
| Other | $183.1M | 10.2% | -1.9% |
| Premium water | $114.2M | 6.4% | +30.5% |
| Other water | $31.8M | 1.8% | -9.7% |
| Total revenue | $1.80B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
PRMB suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Canada | “Our customers include many large national and retail grocery, mass-merchandise, drugstore, wholesale, and convenience store chains across the United States and Canada.” |
| Partner | Triton Water Parent | “Subject to the terms and conditions of the Stockholders Agreement dated as of November 7, 2024, by and between the Company and Triton Water Parent Holdings, LP (together with any parties joined thereto, the "Stockholders Agreement"), a Delaware limited partnership and the holder of all of the common stock of BlueTriton prior to the Transaction (the "Initial ORCP Stockholder"), we may, from time to time, whether in…” |
| Partner | Equity Holdings and BofA Securities | “On May 8, 2025, we entered into an underwriting agreement with the Sponsor Stockholder, Triton Water Equity Holdings and BofA Securities, Inc. and Morgan Stanley & Co. LLC, as underwriters, in connection with the underwritten secondary offering by the Sponsor Stockholder and Triton Water Equity Holdings of 47,500,000 shares of Class A common stock at a price of $31.67 (the "May Offering").” |
Quoted from the company's 10-K filed Feb 27, 2026.
PRMB customer concentration
In the period ended Dec 31, 2025, a single direct customer accounted for 21% of revenue, per the company's 10-K filed Feb 27, 2026. The company does not name it.
PRMB company outlook (results filed Aug 5, 2026)
- “Safe Harbor Statements This press release contains forward-looking statements and forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 conveying management's expectations as to the future based on plans, estimates and projections at the time Primo Brands makes the statements.”
- “The forward-looking statements contained in this press release include, but are not limited to, statements regarding future financial and operating trends and results (including Primo Brands' 2026 outlook and resiliency in 2026 and beyond), execution of the Company's strategy and Primo Brands' competitive position.”
Quoted word-for-word from the SEC 8-K results press release.
PRMB analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.43 | $0.43 | -1.5% | $1.82B | 10 |
| Next quarter (ends Dec 2026) | $0.32 | $0.30 | +5.1% | $1.60B | 10 |
| Current fiscal year (ends Dec 2026) | $1.31 | $1.28 | +2.3% | $6.83B | 11 |
| Next fiscal year (ends Dec 2027) | $1.48 | $1.48 | +0.1% | $7.07B | 12 |
PRMB options: expected move
Options price a move of about ±12.5% (±$2.47) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 7 reports the stock moved ±12.7% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 55.0% | ±12.5% |
| Dec 18, 2026 | 56 | 47.7% | ±15.1% |
| Jan 15, 2027 | 84 | 41.5% | ±16.0% |
| Apr 16, 2027 | 175 | 43.4% | ±24.0% |
| Sep 17, 2027 | 329 | 44.0% | ±32.9% |
30-day implied volatility 54% vs 27.4% realized over the last 30 trading days. Put/call ratio (volume) 0.08. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:23 UTC)
| Price | USD 20.14 |
|---|---|
| Change | ▲ 0.55% (up) |
| Previous Close | USD 20.03 |
| Open | USD 19.86 |
| Day Range | USD 19.88 – 20.32 |
| 52-Week Range | USD 14.36 – 26.21 |
| Volume | 4,202,302 shares |
| Market Cap | $7.29B |
| Exchange | NYQ |
Technical Analysis (PRMB)
Nexqual's technical model rates PRMB "SELL" based on 2 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 09:23 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 51.25 (neutral) |
| vs SMA50 | Below (USD 20.99) |
| MACD | -0.26 (negative) |
Analyst Ratings (PRMB)
Wall Street analysts rate PRMB "Buy" based on 12 analysts, with a mean price target of USD 29.36 (range USD 21–35), per Nexqual as of October 23, 2026 at 09:23 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 12 |
| Mean Target | USD 29.36 |
| High Target | USD 35 |
| Low Target | USD 21 |
| Buy / Hold / Sell | 10 / 2 / 0 |
Earnings (PRMB)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.43 |
| Revenue Estimate | $1.82B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.37 vs est 0.33 ▲ beat |
| 2026-03-31 | USD 0.23 vs est 0.24 ▼ miss |
| 2025-12-31 | USD 0.26 vs est 0.2 ▲ beat |
| 2025-09-30 | USD 0.41 vs est 0.36 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financials & Fundamentals (PRMB)
| Total Revenue | $6.74B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +3.80% |
| Gross Margin | +30.75% |
| Operating Margin | +11.50% |
| Profit Margin | +1.49% |
| ROE | +3.59% |
| Debt / Equity | 1.91 |
| Current Ratio | 1.05 |
| Total Cash | $368.90M |
| Total Debt | $5.70B |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $366.70M (5.4% of revenue) |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Financial Health Score (PRMB)
Nexqual rates Primo Brands Corporation's overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:23 UTC.
| Growth | Weak — Revenue -2% YoY (annual), declining |
|---|---|
| Profitability | Solid — Gross margin 31%, operating 12% (last 12 months) |
| Balance Sheet | Weak — $367M cash and investments vs $5.16B debt (Jun 2026, SEC) |
| Cash Flow | Solid — FCF $367M (last 4 quarters to Jun 2026, SEC), 5% margin |
| Efficiency | Weak — ROE 4%, ROA 4.2% |
Ownership (PRMB)
| Insider Ownership | +1.30% |
|---|---|
| Institutional Ownership | +106.96% |
| Shares Outstanding | 361.94M |
| Float | 262.19M |
| Short % of Float | +33.94% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
Leadership (PRMB)
Primo Brands Corporation is led by Eric J. Foss, CEO, Principal Operating Officer & Executive Chairman, per Nexqual as of October 23, 2026 at 09:23 UTC.
| CEO, Principal Operating Officer & Executive Chairman | Eric J. Foss |
|---|---|
| Chief Financial Officer | David W. Hass |
| Vice President of Investor Relations | Traci Mangini |
| Chief Marketing Officer | Kheri Holland Tillman |
Major Backers & Investors (PRMB)
Notable institutional backers of Primo Brands Corporation include One Rock Capital Partners, LLC, FMR, LLC, Sachem Head Capital Management, LP, according to Nexqual as of October 23, 2026 at 09:23 UTC.
Active Investors
| Investor | Stake |
|---|---|
| One Rock Capital Partners, LLC | 32.07% |
| FMR, LLC | 6.9% |
| Sachem Head Capital Management, LP | 4.91% |
| Samlyn Capital, LLC | 4.56% |
| Fuller & Thaler Asset Management Inc. | 3.61% |
| Ameriprise Financial, Inc. | 3.46% |
| William Blair Investment Management, LLC | 3.15% |
| Fidelity | 2.83% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 6.1% |
| BlackRock | 3.11% |
Source: Nexqual, October 23, 2026 at 09:23 UTC.
From Primo Brands Corporation's Latest SEC 10-K Filing (filed 2026-02-27)
Key Strengths & Strategy (as disclosed to the SEC)
- We are the category leader in U.S. bottled water, holding the number one market share in the retail channel, supported by our nationally recognized, fast-growing brands.
- We believe our differentiated, vertically integrated distribution network spanning coast-to-coast provides us with benefits that are difficult to replicate, including lower cost to serve and increased control over our supply chain and product quality.
- Primo Brands operates a vertically integrated coast-to-coast network that distributes its brands to more than 200,000 retail outlets, as well as directly reaching customers and consumers through its Direct Delivery, Exchange and Refill offerings.
- Our broad and vertically integrated manufacturing and distribution footprint across North America supports strong recurring revenues from our Direct Delivery, Exchange, Refill and Filtration offerings.
Legal & Regulatory Risks (Item 1A, quoted)
- Risks Related to Our Indebtedness
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| CELH | Celsius Holdings, Inc. | USD 28.36 | ▲ 0.18% |
| AKO-B | Embotelladora Andina S.A. | USD 30.01 | ▲ 0.07% |
| COKE | Coca-Cola Consolidated, Inc. | USD 214.93 | ▲ 2.5% |
| FIZZ | National Beverage Corp. | USD 37.07 | ▲ 6.43% |
| COCO | The Vita Coco Company, Inc. | USD 59 | ▼ 7.09% |
| KDP | Keurig Dr Pepper Inc. | USD 35.19 | ▲ 2.09% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:23 UTC. This page is informational and not investment advice.
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