PRMB (Primo Brands) Operating Income: $599 Mil (TTM As of Mar. 2026)


PRMB Primo Brands Corp PRMB
13 GF Score
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What is Primo Brands Operating Income?

Primo Brands PRMB -0.12% 13 Operating Income is $599 Mil as of Mar. 2026. GuruFocus rates PRMB with a GF Score™ of 13/100. The stock has 4 warning signs investors should review.

Primo Brands's Operating Income for the three months ended in Mar. 2026 was $159 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $599 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Primo Brands's Operating Income for the three months ended in Mar. 2026 was $159 Mil. Primo Brands's Revenue for the three months ended in Mar. 2026 was $1,626 Mil. Therefore, Primo Brands's Operating Margin % for the quarter that ended in Mar. 2026 was 9.77%.

Primo Brands's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Primo Brands's annualized ROC % for the quarter that ended in Mar. 2026 was 4.43%. Primo Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.61%.

Primo Brands  (NYSE:PRMB) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Primo Brands's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=635.2 * ( 1 - 33.09% )/( (9741.1 + 9466.3)/ 2 )
=425.01232/9603.7
=4.43 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=10602.8 - 926.6 - ( 376.7 - max(0, 1282.7 - 1217.8+376.7))
=9741.1

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=10590.4 - 1156.9 - ( 288.2 - max(0, 1319.4 - 1286.6+288.2))
=9466.3

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Primo Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=476.4/( ( (2724.8 + max(-275.4, 0)) + (2687.1 + max(-158.5, 0)) )/ 2 )
=476.4/( ( 2724.8 + 2687.1 )/ 2 )
=476.4/2705.95
=17.61 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(431.8 + 223.5 + 185.8) - (926.6 + 0 + 189.9)
=-275.4

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(535.8 + 247.9 + 214.7) - (1156.9 + 0 + 0)
=-158.5

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Primo Brands's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=158.8/1626.1
=9.77 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Primo Brands Operating Income Related Terms

Primo Brands Operating Income Historical Data

* Premium members only.

The historical data trend for Primo Brands's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Primo Brands Operating Income Chart

Primo Brands Annual Data
Trend Dec22 Dec23 Dec24 Dec25
Operating Income
107.10 422.90 564.40 633.50

Primo Brands Quarterly Data
Mar21 Dec22 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 193.00 162.50 190.60 87.40 158.80
PRMB
13GF Score
Primo Brands Corp PRMB
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Primo Brands Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $599 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $599 Mil mean?
Primo Brands (PRMB) has a Operating Income of $599 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Primo Brands and its competitors.
Is Primo Brands' Operating Income too high?
Primo Brands' current Operating Income is $599 Mil. Overall, Primo Brands has a GF Score™ of 13/100, reflecting its overall financial health beyond just this single metric.
How does Primo Brands' Operating Income compare to CELH and COKE?
Primo Brands' Operating Income of $599 Mil can be compared against companies in the Beverages - Non-Alcoholic industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Beverages - Non-Alcoholic company?
A good Operating Income depends on the Beverages - Non-Alcoholic industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Primo Brands and its competitors. Primo Brands's current Operating Income is $599 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primo Brands stock overvalued right now?
Primo Brands (PRMB) has a current Operating Income of $599 Mil. The current Operating Income is $599 Mil. Primo Brands' overall GF Score™ is 13/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Primo Brands (PRMB), the current Operating Income is $599 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Primo Brands Business Description

Other Exchanges V76:Germany
Address 1150 Assembly Drive, Suite 800, Tampa, FL, USA, 33607
Primo Brands Corp is a North American branded beverage company focused on healthy hydration. It delivers sustainably and domestically sourced diversified offerings across products, formats, channels, price points, and consumer occasions, distributed in every state and Canada. Primo Brands is in reusable packaging, helping to reduce waste through its reusable, multi-serve bottles and brand packaging portfolio, which includes recycled plastic, aluminum, and glass.
13GF Score

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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