The company's capital structure remains under pressure with total debt reaching $1.2B and a deeply negative equity position of -$497.8M as of 2026Q2.
| Total Current Assets | 755.8M | 665.5M | 592.7M | 424.2M | 421.3M | 388.1M | 290.2M | 219.5M | 163.7M | 165.8M |
| Cash & Short-Term Investments | 33.2M | 89.1M | 71.1M | 48.4M | 35.8M | 152.6M | 48.7M | 5.5M | 10.9M | 7.8M |
| Cash Only | 33.2M | 89.1M | 71.1M | 48.4M | 35.8M | 152.6M | 48.7M | 5.5M | 10.9M | 7.8M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 272.1M | 223.4M | 220.4M | 168.2M | 173.3M | 103.9M | 83.1M | 68.4M | 87.2M | 63M |
| Days Sales Outstanding | 38.56 | 35.2 | 40.3 | 36.83 | 46.12 | 30.41 | 30.69 | 29.22 | 38.46 | 32.24 |
| Inventory | 409.1M | 330.4M | 286.1M | 194.3M | 199.8M | 117.9M | 150.5M | 138.2M | 61.6M | 85.7M |
| Days Inventory Outstanding | 89.13 | 78 | 81.02 | 62.4 | 76.79 | 49.99 | 81.68 | 92.97 | 40.89 | 66.92 |
| Other Current Assets | 41.4M | 22.6M | 15.1M | 13.3M | 12.4M | 13.7M | 7.9M | 7.4M | 0 | 0 |
| Total Non-Current Assets | 269.6M | 275.5M | 244.3M | 267.4M | 285.9M | 308.4M | 363.3M | 375M | 396.7M | 417.4M |
| Property, Plant & Equipment | 29.7M | 19M | 15M | 15.9M | 15.5M | 8.9M | 10.2M | 11.7M | 11.9M | 9.9M |
| Fixed Asset Turnover | 106.35x | 121.93x | 133.08x | 104.83x | 88.48x | 140.12x | 96.89x | 73.03x | 69.54x | 72.04x |
| Goodwill | 65.9M | 65.9M | 65.9M | 65.9M | 65.9M | 65.9M | 65.9M | 65.9M | 65.9M | 65.9M |
| Intangible Assets | 116.5M | 125M | 141.8M | 176.8M | 203.3M | 223.1M | 274.3M | 296.5M | 318.7M | 341.5M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | -7.6M | -9M | -14.1M | 0 | 0 |
| Other Non-Current Assets | 39.8M | 33.2M | 8.7M | 4.6M | 1.2M | 10.5M | 12.9M | 900K | 200K | 100K |
| Total Assets | 1.03B | 941M | 837M | 691.6M | 707.2M | 696.5M | 653.5M | 594.5M | 560.4M | 583.2M |
| Asset Turnover | 2.32x | 2.46x | 2.38x | 2.41x | 1.94x | 1.79x | 1.51x | 1.44x | 1.48x | 1.22x |
| Asset Growth % | 64.01% | 12.43% | 21.02% | -2.21% | 1.54% | 6.58% | 9.92% | 6.08% | -3.91% | - |
| Total Current Liabilities | 300.5M | 282.8M | 203.7M | 150.2M | 143.5M | 251.3M | 153.1M | 92.7M | 94.3M | 76.6M |
| Accounts Payable | 140.8M | 119.5M | 120.6M | 85M | 91.4M | 91.9M | 56.7M | 61.7M | 58.2M | 48.4M |
| Days Payables Outstanding | 31.66 | 28.21 | 34.15 | 27.3 | 35.13 | 38.96 | 30.77 | 41.5 | 38.64 | 37.8 |
| Short-Term Debt | 0 | 2.6M | 2.2M | 0 | 1.9M | 116.3M | 63.8M | 0 | 1M | 1.9M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -400K | 300K | 23.3M |
| Other Current Liabilities | 159.7M | 140.8M | 57.1M | 42.9M | 36.7M | 26.4M | 21.9M | 16.2M | 23.7M | 12.6M |
| Current Ratio | 2.52x | 2.35x | 2.91x | 2.82x | 2.94x | 1.54x | 1.90x | 2.37x | 1.74x | 2.16x |
| Quick Ratio | 1.15x | 1.18x | 1.51x | 1.53x | 1.54x | 1.08x | 0.91x | 0.88x | 1.08x | 1.05x |
| Cash Conversion Cycle | 96.03 | 84.98 | 87.17 | 71.93 | 87.78 | 41.43 | 81.6 | 80.68 | 40.72 | 61.37 |
| Total Non-Current Liabilities | 1.22B | 1.11B | 839.2M | 864.9M | 939.9M | 510.7M | 661.4M | 15.4M | 14.4M | 22.2M |
| Long-Term Debt | 1.19B | 1.08B | 833.1M | 856.8M | 929.5M | 481.2M | 622.6M | 0 | 0 | 0 |
| Capital Lease Obligations | 26.9M | 26.9M | 4.3M | 6.1M | 6.6M | 8.6M | 11M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 1.6M | 400K | 400K | 400K | 2.2M | 7.6M | 9M | 14.1M | 13.6M | 22.2M |
| Other Non-Current Liabilities | 37.3M | 500K | 1.4M | 1.6M | 1.6M | 13.3M | 18.8M | 1.3M | 800K | 0 |
| Total Liabilities | 1.52B | 1.39B | 1.04B | 1.02B | 1.08B | 762M | 814.5M | 108.1M | 108.7M | 98.8M |
| Total Debt | 1.19B | 1.11B | 839.6M | 865M | 938M | 608.4M | 699.6M | 400K | 1M | 1.9M |
| Net Debt | 1.15B | 1.02B | 768.5M | 816.6M | 902.2M | 455.8M | 650.9M | -5.1M | -9.9M | -5.9M |
| Debt / Equity | -2.38x | - | - | - | - | - | - | 0.00x | 0.00x | 0.00x |
| Debt / EBITDA | 4.10x | 2.96x | 1.98x | 2.74x | 4.01x | 2.74x | 3.66x | 0.00x | 0.01x | 0.02x |
| Net Debt / EBITDA | 3.99x | 2.73x | 1.81x | 2.59x | 3.86x | 2.06x | 3.40x | -0.03x | -0.07x | -0.05x |
| Interest Coverage | 2.91x | 5.23x | 6.65x | 4.29x | 3.96x | 3.85x | 3.00x | - | - | - |
| Total Equity | -497.8M | -453.9M | -205.9M | -323.5M | -376.2M | -65.5M | -161M | 486.4M | 451.7M | 484.4M |
| Equity Growth % | -492.14% | -120.45% | 36.35% | 14.01% | -474.35% | 59.32% | -133.1% | 7.68% | -6.75% | - |
| Book Value per Share | -4.19 | -3.53 | -1.56 | -2.41 | -2.77 | -1.66 | -4.08 | 12.34 | 13.17 | 14.13 |
| Total Shareholders' Equity | -497.8M | -453.9M | -205.9M | -323.5M | -376.2M | -3.06B | -2.18B | 486.4M | 451.7M | 484.4M |
| Common Stock | 1.4M | 1.4M | 1.4M | 1.4M | 1.4M | 400K | 400K | 489M | 453.1M | 485.4M |
| Retained Earnings | 350.2M | 272.6M | 56.4M | -190.1M | -355.6M | -3.06B | -2.18B | 0 | 0 | 0 |
| Treasury Stock | -900M | -775.6M | -299M | -151M | -24.7M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.4M | -1M | -2M | -3.1M | -4.3M | -3.5M | -4M | -2.6M | -1.4M | -1M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 3B | 2.02B | 0 | 0 | 0 |
Negative equity and leverage
According to recent financial filings, BellRing Brands' equity position has remained deeply negative, reaching -$497.8M in 2026Q2, which suggests that the company's capital structure is increasingly burdened by cumulative deficits and aggressive capital allocation strategies that have outpaced internal value creation over the last ten quarters.
The persistent negative equity position indicates that the company's liabilities significantly exceed its assets, a trend that warrants close monitoring as it limits the firm's financial flexibility. This trajectory suggests that the business model is currently prioritizing shareholder returns through buybacks over the strengthening of its underlying balance sheet foundation.
As reported in quarterly balance sheets, total debt has climbed to $1.2B as of 2026Q2, representing a substantial portion of the company's total liabilities and signaling that the firm remains heavily reliant on external financing to sustain its current operational and capital allocation requirements.
The reliance on debt to fund operations in a period of margin compression may increase the company's sensitivity to interest rate fluctuations. Investors should consider whether this leverage is sustainable if the current deceleration in top-line growth continues to pressure cash flow generation.
Based on the provided data, cash reserves have dwindled to $33.2M in 2026Q2 from a peak of $85.0M in 2024Q1, indicating that the company's liquidity buffer is shrinking precisely when operational volatility and negative net income are placing greater demands on available working capital.
While the current ratio of 2.52 suggests adequate short-term coverage, the absolute decline in cash balances is concerning given the company's ongoing debt obligations. This trend may indicate that the firm is exhausting its internal liquidity to support aggressive capital deployment, leaving less room for error.
Financial statements reveal that retained earnings, while positive at $350.2M in 2026Q2, have not been sufficient to offset the broader equity deficit, suggesting that historical share repurchases and other capital distributions have effectively hollowed out the company's book value over the observed period.
The disconnect between positive retained earnings and negative total equity implies that the company's capital structure is heavily distorted by legacy accounting or aggressive equity-reducing activities. This structure appears to prioritize immediate shareholder payouts over the long-term goal of building a robust, self-sustaining equity base.
Quick answers to the most common questions about buying BRBR stock.
As of 2025, BellRing Brands, Inc. (BRBR) had total assets of $941.0M including $665.5M in current assets.
BellRing Brands, Inc. (BRBR) carries total debt of $1.11B, offset by $89.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
BellRing Brands, Inc. (BRBR) has total shareholders' equity (book value) of $-453.9M ($-3.53 book value per share). Book value represents the net worth of the company belonging to common stock holders.
BellRing Brands, Inc. (BRBR) reported a current ratio of 2.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.