Operating margins remain compressed within a narrow 9.2% to 12.0% range, suggesting that structural exposure to volatile commodity costs limits consistent profitability.
| Metric | TTM | Sep'25 | Sep'24 | Sep'23 | Sep'22 | Sep'21 | Sep'20 | Sep'19 | Sep'18 | Sep'17 | Sep'16 | Sep'15 | Sep'14 | Sep'13 | Sep'12 | Sep'11 | Sep'10 | Sep'08 | Sep'07 |
|---|
| Sales/Revenue | 8.45B | 8.16B | 7.92B | 6.99B | 5.85B | 4.98B | 5.7B | 5.68B | 6.26B | 5.23B | 5.03B | 4.65B | 2.41B | 1.03B | 958.9M | 968.2M | 996.7M | 1.1B | 1.09B |
| Revenue Growth % | 7.16% | 2.97% | 13.33% | 19.48% | 17.48% | -12.6% | 0.31% | -9.21% | 19.74% | 3.96% | 8.15% | 92.78% | 133.16% | 7.84% | -0.96% | -2.86% | -9.61% | 0.91% | - |
| Cost of Goods Sold | 6.2B | 6.01B | 5.77B | 5.23B | 4.59B | 3.75B | 4.05B | 4.04B | 4.58B | 3.81B | 3.62B | 3.61B | 1.84B | 613.3M | 540.9M | 508.5M | 564.2M | 639.5M | 636.6M |
| COGS % of Revenue | - | 73.63% | 72.77% | 74.88% | 78.45% | 75.29% | 71% | 71.03% | 73.2% | 72.96% | 72.07% | 77.57% | 76.31% | 59.31% | 56.41% | 52.52% | 56.61% | 57.99% | 58.25% |
| Gross Profit | 2.24B | 2.15B | 2.16B | 1.76B | 1.26B | 1.23B | 1.65B | 1.65B | 1.68B | 1.41B | 1.4B | 1.04B | 571.2M | 420.8M | 418M | 459.7M | 432.5M | 463.2M | 456.2M |
| Gross Margin % | 26.56% | 26.37% | 27.23% | 25.12% | 21.55% | 24.71% | 29% | 28.97% | 26.8% | 27.04% | 27.93% | 22.43% | 23.69% | 40.69% | 43.59% | 47.48% | 43.39% | 42.01% | 41.75% |
| Gross Profit Growth % | - | -0.29% | 22.86% | 39.29% | 2.46% | -25.54% | 0.4% | -1.84% | 18.64% | 0.67% | 34.68% | 82.49% | 35.74% | 0.67% | -9.07% | 6.29% | -6.63% | 1.53% | - |
| Operating Expenses | 1.34B | 1.3B | 1.32B | 1.06B | 876.5M | 806.6M | 917.9M | 896.3M | 943.6M | 792.3M | 809.8M | 706.8M | 405.3M | 277.6M | 256.6M | 238.3M | 213.7M | 282.2M | 266.2M |
| OpEx % of Revenue | - | 15.93% | 16.69% | 15.17% | 14.98% | 16.19% | 16.11% | 15.78% | 15.08% | 15.16% | 16.11% | 15.21% | 16.81% | 26.84% | 26.76% | 24.61% | 21.44% | 25.59% | 24.36% |
| Selling, General & Admin | 1.34B | 1.27B | 1.29B | 1.04B | 857.6M | 784.7M | 899.8M | 869.2M | 916.7M | 772.8M | 793.5M | 690M | 395.1M | 269M | 246M | 229.1M | 204.7M | 267M | 256.9M |
| SG&A % of Revenue | - | 15.54% | 16.32% | 14.84% | 14.66% | 15.75% | 15.79% | 15.3% | 14.65% | 14.79% | 15.79% | 14.84% | 16.39% | 26.01% | 25.65% | 23.66% | 20.54% | 24.21% | 23.51% |
| Research & Development | 0 | 31.9M | 29M | 22.9M | 18.9M | 21.9M | 28.5M | 25M | 25.1M | 18.6M | 16.3M | 16.8M | 10.2M | 8.6M | 7.9M | 7.6M | 7.7M | 0 | 0 |
| R&D % of Revenue | - | 0.39% | 0.37% | 0.33% | 0.32% | 0.44% | 0.5% | 0.44% | 0.4% | 0.36% | 0.32% | 0.36% | 0.42% | 0.83% | 0.82% | 0.78% | 0.77% | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | -6M | -2.1M | -1.8M | -900K | 0 | 0 | 0 | 0 | -2.7M | -1.6M | -1.3M | 15.2M | 9.3M |
| Operating Income | 902.2M | 851.9M | 835.4M | 695.6M | 384.3M | 423.9M | 734.6M | 749.6M | 733.1M | 621M | 594.1M | 335.6M | 165.9M | 143.2M | 161.4M | 221.4M | 218.8M | 181M | 190M |
| Operating Margin % | 10.68% | 10.44% | 10.54% | 9.95% | 6.57% | 8.51% | 12.89% | 13.19% | 11.72% | 11.88% | 11.82% | 7.22% | 6.88% | 13.85% | 16.83% | 22.87% | 21.95% | 16.41% | 17.39% |
| Operating Income Growth % | - | 1.98% | 20.1% | 81% | -9.34% | -42.3% | -2% | 2.25% | 18.05% | 4.53% | 77.03% | 102.29% | 15.85% | -11.28% | -27.1% | 1.19% | 20.88% | -4.74% | - |
| EBITDA | 1.47B | 1.38B | 1.31B | 1.1B | 764.5M | 790.4M | 1.1B | 1.13B | 1.13B | 944.1M | 896.9M | 608.4M | 321.7M | 220M | 224.6M | 280.1M | 274.2M | 216.2M | 224.9M |
| EBITDA Margin % | 17.41% | 16.87% | 16.56% | 15.77% | 13.07% | 15.87% | 19.38% | 19.88% | 18.08% | 18.07% | 17.84% | 13.09% | 13.34% | 21.27% | 23.42% | 28.93% | 27.51% | 19.61% | 20.58% |
| EBITDA Growth % | 12.7% | 4.87% | 19.01% | 44.24% | -3.28% | -28.44% | -2.19% | -0.2% | 19.85% | 5.26% | 47.42% | 89.12% | 46.23% | -2.05% | -19.81% | 2.15% | 26.83% | -3.87% | - |
| D&A (Non-Cash Add-back) | 569.1M | 524.3M | 476.9M | 407.1M | 380.2M | 366.5M | 369.9M | 379.6M | 398.4M | 323.1M | 302.8M | 272.8M | 155.8M | 76.8M | 63.2M | 58.7M | 55.4M | 35.2M | 34.9M |
| EBIT | 864.6M | 805.4M | 788.6M | 692M | 1.21B | 546.6M | 440.8M | 512.5M | 654.3M | 388.5M | 276.4M | 120.2M | -243.2M | 107.8M | 140.7M | -316.1M | 193M | 181M | 190M |
| Net Interest Income | -399.4M | -361.4M | -316.5M | -279.1M | -317.8M | -332.6M | -377.4M | -322.4M | -387.3M | -314.8M | -306.5M | -257.5M | -183.7M | -85.5M | -60.3M | -51.5M | -51.5M | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 30M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 399.4M | 361.4M | 316.5M | 279.1M | 317.8M | 332.6M | 377.4M | 322.4M | 387.3M | 314.8M | 306.5M | 287.5M | 183.7M | 85.5M | 60.3M | 51.5M | 51.5M | 0 | 0 |
| Other Income/Expense | -451.4M | -407.4M | -363.4M | -283M | 443.9M | -253.8M | -702.1M | -627.5M | -468.7M | -546.6M | -624.2M | -502.9M | -592.8M | -120.9M | -81M | -589M | -77.3M | 0 | 0 |
| Pretax Income | 450.8M | 444.5M | 472M | 412.6M | 828.2M | 170.1M | 32.5M | 122.1M | 264.4M | 74.4M | -30.1M | -167.3M | -426.9M | 22.3M | 80.4M | -367.6M | 141.5M | 181M | 190M |
| Pretax Margin % | 5.34% | 5.45% | 5.96% | 5.9% | 14.15% | 3.42% | 0.57% | 2.15% | 4.23% | 1.42% | -0.6% | -3.6% | -17.71% | 2.16% | 8.38% | -37.97% | 14.2% | 16.41% | 17.39% |
| Income Tax | 112M | 108.7M | 105.1M | 99.7M | 85.7M | 58.2M | 3.5M | -3.9M | -204M | 26.1M | -26.8M | -52M | -83.7M | 7.1M | 30.5M | -6.3M | 49.5M | 64.3M | 68.2M |
| Effective Tax Rate % | 24.84% | 24.45% | 22.27% | 24.16% | 10.35% | 34.22% | 10.77% | -3.19% | -77.16% | 35.08% | 89.04% | 31.08% | 19.61% | 31.84% | 37.94% | 1.71% | 34.98% | 35.52% | 35.89% |
| Net Income | 338.4M | 335.7M | 366.7M | 301.3M | 756.6M | 166.7M | 800K | 124.7M | 467.3M | 48.3M | -3.3M | -115.3M | -343.2M | 15.2M | 49.9M | -361.3M | 92M | 116.7M | 121.8M |
| Net Margin % | 4.01% | 4.11% | 4.63% | 4.31% | 12.93% | 3.35% | 0.01% | 2.2% | 7.47% | 0.92% | -0.07% | -2.48% | -14.23% | 1.47% | 5.2% | -37.32% | 9.23% | 10.58% | 11.15% |
| Net Income Growth % | -5.29% | -8.45% | 21.71% | -60.18% | 353.87% | 20737.5% | -99.36% | -73.31% | 867.49% | 1563.64% | 97.14% | 66.4% | -2357.89% | -69.54% | 113.81% | -492.72% | -21.17% | -4.19% | - |
| Net Income (Continuing) | 338.8M | 335.8M | 366.9M | 312.9M | 742.5M | 111.9M | 29M | 126M | 468.4M | 48.3M | -3.3M | -115.3M | -343.2M | 15.2M | 49.9M | -361.3M | 92M | 116.7M | 121.8M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 21.6M | 61.8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 10.9M | 10.7M | 10.7M | 9.2M | 318.3M | 316.8M | -25.5M | 11.4M | 10.1M | 9.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 6.26 | 5.51 | 5.64 | 4.82 | 12.09 | 2.55 | 0.01 | 1.66 | 6.16 | 0.69 | -0.05 | -2.03 | -8.64 | 0.46 | 1.45 | -10.50 | 2.67 | 3.38 | 3.53 |
| EPS Growth % | 5.69% | -2.31% | 17.01% | -60.13% | 374.12% | 22268.42% | -99.31% | -73.05% | 792.75% | 1537.5% | 97.64% | 76.5% | -1978.26% | -68.28% | 113.81% | -493.26% | -21.01% | -4.25% | - |
| EPS (Basic) | - | 5.98 | 6.12 | 5.21 | 12.42 | 2.60 | 0.01 | 1.76 | 6.29 | 0.71 | -0.05 | -2.03 | -8.64 | 0.46 | 1.45 | -10.50 | 2.67 | 3.38 | 3.53 |
| Diluted Shares Outstanding | 54.1M | 62.9M | 66.9M | 67M | 62.7M | 65.3M | 70.1M | 75.1M | 75.9M | 69.9M | 68.8M | 56.7M | 39.7M | 33M | 34.5M | 34.4M | 34.4M | 34.5M | 34.5M |
| Basic Shares Outstanding | 47.9M | 56.1M | 59.9M | 60M | 60.9M | 64.2M | 68.9M | 70.8M | 74.28M | 67.8M | 68.8M | 56.7M | 39.7M | 32.7M | 34.3M | 34.4M | 34.4M | 34.5M | 34.5M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | 27.63% | - | - | - | - | - |
High leverage and commodity volatility
According to the provided quarterly income statements, Post Holdings has experienced inconsistent top-line performance, with revenue growth fluctuating between a 2.3% contraction in 2025Q2 and a 25.5% expansion in 2024Q1, suggesting that organic growth remains elusive amidst the company's frequent portfolio shifts and M&A activity.
The volatility in revenue growth appears to be heavily influenced by inorganic contributions rather than core volume expansion in the legacy cereal business. Investors should monitor whether the recent pivot into pet food can provide a more stable growth trajectory, as the current reliance on episodic acquisitions masks the underlying performance of the core segments.
As reported in financial statements, Post Holdings maintains a gross margin profile that has hovered between 24.7% and 27.7% over the last ten quarters, indicating that the company's exposure to volatile agricultural commodities like eggs and grains creates a persistent ceiling on profitability.
The inability to consistently expand gross margins suggests that the company lacks the pricing power of its more premium-focused peers. This structural limitation implies that profitability is highly sensitive to input cost spikes, which may continue to pressure the bottom line during periods of supply chain disruption.
Based on the company's reported figures, operating margins have remained compressed within a narrow 9.2% to 12.0% range, suggesting that the firm struggles to achieve meaningful operating leverage despite its scale and the integration of diverse business units into a single platform.
The lack of significant operating margin expansion indicates that SG&A expenses are scaling in lockstep with revenue, potentially due to the administrative burden of managing a complex, multi-segment conglomerate. This trend warrants further investigation into whether the current corporate structure is optimized for long-term efficiency or if it remains inherently bloated.
Data from the last ten quarters reveals significant swings in net income, ranging from $51.0 million to $113.3 million, which appears to be driven by non-operating items and irregular stock-based compensation charges that complicate the assessment of true recurring profitability for the firm.
The wide variance in EPS, such as the 51.5% growth in 2026Q2 followed by a 31.2% decline in 2025Q4, suggests that reported net income is an unreliable metric for gauging operational health. Analysts should focus on adjusted figures to strip away the noise created by commodity hedging and the accounting treatment of the company's various equity stakes.
Analysis of the company's financial history suggests that the aggressive reliance on debt-funded acquisitions, as evidenced by the high debt-to-equity ratio, creates a precarious risk profile that may limit the firm's ability to navigate sustained high-interest-rate environments or unexpected operational downturns.
While the platform strategy has historically unlocked value, the current leverage levels may leave little room for error if the core cereal and foodservice segments face simultaneous headwinds. Investors should monitor whether the company's cash flow generation is sufficient to service this debt load without requiring further dilutive financing or asset divestitures.
Quick answers to the most common questions about buying POST stock.
For fiscal year 2025, Post Holdings, Inc. (POST) reported total revenue of $8.16B. This represents a 646.5% increase compared to $1.09B in 2007.
Post Holdings, Inc. (POST) is profitable, generating $335.7M in net income for the fiscal year ending 2025 with a net profit margin of 4.1%.
Post Holdings, Inc. (POST) reported an operating income of $851.9M, resulting in an operating profit margin of 10.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Post Holdings, Inc. (POST) generated $2.15B in gross profit for the year, representing a gross profit margin of 26.4%. This demonstrates the company's core pricing power and production efficiency.