Freshpet Inc (FRPT)

Financial leverage ratio

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020
Total assets	US$ in thousands	1,559,020	1,574,880	1,531,700	1,506,330	1,480,590	1,464,420	1,444,330	1,410,370	1,400,020	1,125,380	1,165,500	1,173,510	853,460	784,410	758,327	783,430	773,972	434,388	425,942	411,860
Total stockholders’ equity	US$ in thousands	1,049,490	1,055,360	1,021,450	995,804	977,844	953,454	938,556	937,784	948,907	1,031,570	1,029,940	1,032,670	708,054	719,754	723,518	719,811	721,396	394,169	394,489	384,591
Financial leverage ratio		1.49	1.49	1.50	1.51	1.51	1.54	1.54	1.50	1.48	1.09	1.13	1.14	1.21	1.09	1.05	1.09	1.07	1.10	1.08	1.07

March 31, 2025 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $1,559,020K ÷ $1,049,490K
= 1.49

The financial leverage ratio of Freshpet Inc has exhibited a generally upward trend over the period from mid-2020 through early 2025. Starting at approximately 1.07 as of June 30, 2020, the ratio demonstrated minimal fluctuation around 1.05 to 1.10 through September 2021, indicating a relatively stable level of leverage during this period.

From late 2021 onward, the ratio experienced a noticeable increase, reaching around 1.21 as of March 31, 2022. This upward trajectory continued into 2023, with the ratio rising sharply to approximately 1.48 by March 31, 2023, and further to about 1.54 by September 30, 2023. The ratio maintained this heightened level through the end of 2023 and into 2024, remaining relatively stable around 1.50 to 1.51.

Overall, the data indicates a trend of increasing financial leverage for Freshpet Inc over the analyzed period. The rise suggests that the company has accelerated its use of debt relative to equity, potentially to fund expansion, acquisitions, or other strategic initiatives. The stabilization of the leverage ratio around 1.50 from late 2023 onward suggests a period of balance in the company’s capital structure, maintaining a consistent leverage level in recent periods.