Latest Ratios: P/E Ratio -12.2x · EV/EBITDA N/A · ROE -282.4%. (2010–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $33M | $47M | $43M | $21M | $17M | $79M | $60M | $45M | $75M | $68M | $79M |
| Enterprise Value | $38M | $51M | $44M | $19M | $14M | $74M | $60M | $47M | $77M | $67M | $70M |
| P/E Ratio → | -12.18 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.35 | 3.29 | 4.03 | 2.61 | 1.83 | 11.80 | 23.24 | 10.44 | 17.79 | 34.20 | 54.42 |
| P/B Ratio | 24.85 | 35.18 | 74.66 | 8.49 | 5.73 | 9.67 | 25.67 | 158.53 | — | 16.41 | 7.27 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.62 | 4.08 | 2.38 | 1.53 | 10.99 | 23.27 | 10.90 | 18.07 | 33.54 | 48.13 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.9% | 21.9% | 34.2% | 35.5% | 15.7% | 37.4% | 29.8% | 53.7% | 50.6% | 45.6% | 47.0% |
| Operating Margin | -20.5% | -20.5% | -25.9% | -34.6% | -58.8% | -31.3% | -163.9% | -120.4% | -145.9% | -446.2% | -682.0% |
| Net Profit Margin | -19.0% | -19.0% | -26.4% | -34.7% | -67.0% | -18.9% | -161.7% | -129.9% | -172.9% | -446.2% | -699.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -282.4% | -282.4% | -183.4% | -103.9% | -110.4% | -24.1% | -318.5% | -4498.5% | -354.9% | -118.3% | -170.1% |
| ROA | -33.4% | -33.4% | -69.5% | -54.8% | -80.6% | -16.3% | -75.9% | -102.7% | -130.8% | -103.3% | -131.3% |
| ROIC | -61.6% | -61.6% | -232.8% | -558.0% | -280.3% | -61.1% | -136.0% | -230.7% | -232.4% | -290.6% | -791.2% |
| ROCE | -232.9% | -232.9% | -173.0% | -103.6% | -96.6% | -35.1% | -121.0% | -149.6% | -157.4% | -118.2% | -165.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 3.70 | 3.70 | 1.44 | — | 0.01 | 0.01 | 0.82 | 10.42 | — | — | 0.00 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 3.46 | 1.03 | -0.76 | -0.95 | -0.67 | 0.03 | 6.90 | — | -0.31 | -0.84 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -12.73 | -12.73 | -53.33 | -352.00 | — | -8.88 | -8.78 | -4.28 | -8.08 | — | -39.62 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.38 | 0.38 | 1.04 | 1.80 | 1.70 | 5.13 | 1.57 | 1.08 | 1.31 | 2.40 | 10.68 |
| Quick Ratio | 0.23 | 0.23 | 0.47 | 1.27 | 1.29 | 4.66 | 1.16 | 0.74 | 0.72 | 1.28 | 10.33 |
| Cash Ratio | 0.03 | 0.03 | 0.09 | 0.82 | 1.09 | 3.70 | 0.86 | 0.53 | 0.50 | 1.03 | 10.15 |
| Asset Turnover | — | 1.11 | 3.23 | 1.69 | 1.66 | 0.69 | 0.44 | 0.84 | 0.74 | 0.37 | 0.12 |
| Inventory Turnover | 6.66 | 6.66 | 4.70 | 4.32 | 7.37 | 5.95 | 2.07 | 3.14 | 1.70 | 0.77 | 2.43 |
| Days Sales Outstanding | — | 52.82 | 30.11 | 44.06 | 9.04 | 66.63 | 60.42 | 24.13 | 30.79 | 55.02 | 32.83 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.5% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.5% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $16M | $15M | $13M | $13M | $12M | $11M | $10M | $9M | $9M | $7M |
Liquidity and solvency pressure
According to recent market data, BRFH trades at a price-to-sales multiple of 2.36, a valuation that appears to prioritize top-line expansion over the company's persistent negative earnings, which currently result in a TTM P/E ratio of -12.24, suggesting investors are betting on future scale.
The current valuation implies that the market is pricing the company as a high-growth technology-enabled beverage provider rather than a traditional food manufacturer. Investors should monitor whether this premium can be sustained if revenue growth fails to translate into a clear path toward positive EBITDA, as the lack of a forward P/E suggests limited visibility into near-term profitability.
As reported in financial statements, the company's gross margin of 21.92% remains significantly below industry standards, and with an operating margin of -20.51%, it appears that fixed costs are currently overwhelming the gross profit generated from the company's institutional beverage distribution model.
The volatility in gross margins, which swung from 2.9% to 36.7% over recent quarters, indicates that the company has not yet achieved the manufacturing or logistics density required for stable profitability. This suggests that the current earning power is structurally impaired by high variable costs and an inability to leverage SG&A expenses effectively against top-line growth.
Based on reported figures, the company's ROIC has remained consistently negative, reaching -4.5% in 2026Q1, which indicates that the capital deployed into the business is currently destroying value rather than compounding it, a trend that warrants further investigation by long-term shareholders.
The persistent negative return on capital suggests that the investments made in infrastructure and distribution are not yet generating returns that exceed the cost of capital. This trend appears to be driven by the combination of low margins and an asset-heavy model that has yet to reach the necessary utilization rates to justify its capital intensity.
According to quarterly filings, the cash conversion cycle has shown extreme volatility, ranging from 4 to 95 days, which suggests that the company's ability to manage its inventory and accounts receivable is highly inconsistent compared to more mature peers in the beverage sector.
The wide fluctuations in the CCC indicate that the company is struggling to balance its inventory builds with the payment cycles of its institutional clients. This inefficiency forces the company to rely on external financing to bridge the gap, which is particularly risky given the current low cash reserves and high debt-to-equity ratio.
Based on the latest balance sheet data, the debt-to-equity ratio has climbed to 4.69, signaling that the company is increasingly reliant on leverage to fund its operations, which may limit financial flexibility and increase the risk of covenant breaches in a tightening credit environment.
The rapid increase in debt relative to equity suggests that management is prioritizing growth at the expense of balance sheet health. Investors should monitor the interest coverage ratio, which has been consistently negative, indicating that the company is currently unable to service its debt obligations through operational cash flow alone.
The most commonly misapplied metric for this business model is the price-to-sales ratio, which obscures the company's underlying cash burn and the structural inability of its current gross margins to support the high fixed costs of its specialized distribution infrastructure.
Investors often use P/S to justify the company's growth, but this ignores the fact that each additional dollar of revenue currently requires significant capital investment and logistics support that may not be accretive to value. A more appropriate metric would be the cash-burn-adjusted enterprise value, which accounts for the company's immediate need for liquidity and its reliance on external financing.
Includes 30+ ratios · 16 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BRFH stock.
Barfresh Food Group, Inc.'s current P/E ratio is -12.2x. This places it at the 50th percentile of its historical range.
Barfresh Food Group, Inc.'s return on equity (ROE) is -282.4%. The historical average is -208.7%.
Based on historical data, Barfresh Food Group, Inc. is trading at a P/E of -12.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Barfresh Food Group, Inc. has 21.9% gross margin and -20.5% operating margin.