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Side-by-side financial comparison of PERRIGO Co plc (PRGO) and Primo Brands Corp (PRMB). Click either name above to swap in a different company.
Primo Brands Corp is the larger business by last-quarter revenue ($1.6B vs $1.1B, roughly 1.4× PERRIGO Co plc). Primo Brands Corp runs the higher net margin — -0.8% vs -127.8%, a 127.0% gap on every dollar of revenue. PERRIGO Co plc produced more free cash flow last quarter ($148.6M vs $57.3M).
Perrigo Company plc is an American Irish-registered manufacturer of private label over-the-counter pharmaceuticals, and while 70% of Perrigo's net sales are from the U.S. healthcare system, Perrigo is legally headquartered in Ireland for tax purposes, which accounts for 0.60% of net sales. In 2013, Perrigo completed the sixth-largest US corporate tax inversion in history when it reregistered its tax status to Ireland to avoid U.S. corporate taxes. Perrigo maintains its corporate headquarters ...
Primo Brands Corporation is an American-Canadian water company offering multi-gallon bottled water, water dispensers, self-service refill water machines, and water filtration appliances. The company is headquartered in Tampa, Florida, and services residential and commercial customers across the United States, Canada, Europe and Israel.
PRGO vs PRMB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.1B | $1.6B |
| Net Profit | $-1.4B | $-13.0M |
| Gross Margin | 32.6% | 27.7% |
| Operating Margin | -116.0% | 1.2% |
| Net Margin | -127.8% | -0.8% |
| Revenue YoY | -2.5% | — |
| Net Profit YoY | -3093.9% | — |
| EPS (diluted) | $-10.23 | $-0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $1.1B | $1.7B | ||
| Q1 25 | $1.0B | $1.6B | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | $0 | ||
| Q2 24 | $1.1B | $1.3B | ||
| Q1 24 | $1.1B | $1.1B |
| Q4 25 | $-1.4B | $-13.0M | ||
| Q3 25 | $7.5M | $16.8M | ||
| Q2 25 | $-8.4M | $27.6M | ||
| Q1 25 | $-6.4M | $28.7M | ||
| Q4 24 | $-44.4M | — | ||
| Q3 24 | $-21.0M | $-2.0K | ||
| Q2 24 | $-108.4M | $54.5M | ||
| Q1 24 | $2.0M | $33.5M |
| Q4 25 | 32.6% | 27.7% | ||
| Q3 25 | 36.1% | 29.9% | ||
| Q2 25 | 34.4% | 31.3% | ||
| Q1 25 | 37.6% | 32.3% | ||
| Q4 24 | 33.9% | — | ||
| Q3 24 | 37.2% | — | ||
| Q2 24 | 37.0% | 32.7% | ||
| Q1 24 | 33.1% | 30.4% |
| Q4 25 | -116.0% | 1.2% | ||
| Q3 25 | 7.0% | 8.3% | ||
| Q2 25 | 4.3% | 6.5% | ||
| Q1 25 | 4.5% | 9.5% | ||
| Q4 24 | 10.0% | — | ||
| Q3 24 | 7.4% | — | ||
| Q2 24 | -2.5% | 12.1% | ||
| Q1 24 | -5.1% | 11.0% |
| Q4 25 | -127.8% | -0.8% | ||
| Q3 25 | 0.7% | 1.0% | ||
| Q2 25 | -0.8% | 1.6% | ||
| Q1 25 | -0.6% | 1.8% | ||
| Q4 24 | -3.9% | — | ||
| Q3 24 | -1.9% | — | ||
| Q2 24 | -10.2% | 4.1% | ||
| Q1 24 | 0.2% | 2.9% |
| Q4 25 | $-10.23 | $-0.03 | ||
| Q3 25 | $0.05 | $0.04 | ||
| Q2 25 | $-0.06 | $0.07 | ||
| Q1 25 | $-0.05 | $0.08 | ||
| Q4 24 | $-0.32 | — | ||
| Q3 24 | $-0.15 | $-20.00 | ||
| Q2 24 | $-0.79 | $0.25 | ||
| Q1 24 | $0.01 | $0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $376.7M |
| Total DebtLower is stronger | — | $5.2B |
| Stockholders' EquityBook value | $2.9B | $3.0B |
| Total Assets | $8.5B | $10.6B |
| Debt / EquityLower = less leverage | — | 1.72× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $376.7M | ||
| Q3 25 | $432.1M | — | ||
| Q2 25 | $454.2M | — | ||
| Q1 25 | $409.9M | — | ||
| Q4 24 | $558.8M | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $542.8M | — | ||
| Q1 24 | $658.5M | — |
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $5.1B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.9B | $3.0B | ||
| Q3 25 | $4.4B | $3.2B | ||
| Q2 25 | $4.5B | $3.2B | ||
| Q1 25 | $4.4B | $3.3B | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.6B | $-2.0K | ||
| Q2 24 | $4.5B | $-296.8M | ||
| Q1 24 | $4.7B | $-349.8M |
| Q4 25 | $8.5B | $10.6B | ||
| Q3 25 | $10.1B | $11.0B | ||
| Q2 25 | $10.1B | $11.0B | ||
| Q1 25 | $9.8B | $11.0B | ||
| Q4 24 | $9.6B | — | ||
| Q3 24 | $11.2B | $0 | ||
| Q2 24 | $10.4B | — | ||
| Q1 24 | $10.6B | — |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | 1.61× | ||
| Q2 25 | — | 1.57× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $175.4M | $203.1M |
| Free Cash FlowOCF − Capex | $148.6M | $57.3M |
| FCF MarginFCF / Revenue | 13.4% | 3.7% |
| Capex IntensityCapex / Revenue | 2.4% | 9.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $145.1M | $302.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $175.4M | $203.1M | ||
| Q3 25 | $51.7M | $283.4M | ||
| Q2 25 | $75.9M | $155.0M | ||
| Q1 25 | $-64.5M | $38.8M | ||
| Q4 24 | $312.6M | — | ||
| Q3 24 | $42.2M | $0 | ||
| Q2 24 | $9.5M | $102.5M | ||
| Q1 24 | $-1.4M | $6.0M |
| Q4 25 | $148.6M | $57.3M | ||
| Q3 25 | $29.8M | $167.7M | ||
| Q2 25 | $56.7M | $101.1M | ||
| Q1 25 | $-90.0M | $-23.2M | ||
| Q4 24 | $274.9M | — | ||
| Q3 24 | $15.1M | — | ||
| Q2 24 | $-18.9M | $61.4M | ||
| Q1 24 | $-26.5M | $-17.5M |
| Q4 25 | 13.4% | 3.7% | ||
| Q3 25 | 2.9% | 9.5% | ||
| Q2 25 | 5.4% | 5.8% | ||
| Q1 25 | -8.6% | -1.4% | ||
| Q4 24 | 24.2% | — | ||
| Q3 24 | 1.4% | — | ||
| Q2 24 | -1.8% | 4.7% | ||
| Q1 24 | -2.4% | -1.5% |
| Q4 25 | 2.4% | 9.4% | ||
| Q3 25 | 2.1% | 6.6% | ||
| Q2 25 | 1.8% | 3.1% | ||
| Q1 25 | 2.4% | 3.8% | ||
| Q4 24 | 3.3% | — | ||
| Q3 24 | 2.5% | — | ||
| Q2 24 | 2.7% | 3.1% | ||
| Q1 24 | 2.3% | 2.1% |
| Q4 25 | — | — | ||
| Q3 25 | 6.89× | 16.87× | ||
| Q2 25 | — | 5.62× | ||
| Q1 25 | — | 1.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.88× | ||
| Q1 24 | -0.70× | 0.18× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRGO
| Consumer Self Care Americas | $697.0M | 63% |
| Digestive Health | $123.9M | 11% |
| Nutrition | $108.3M | 10% |
| Healthy Lifestyle | $94.8M | 9% |
| Pain And Sleep Aids | $87.1M | 8% |
PRMB
| Regional Spring Water | $765.1M | 49% |
| Purified Water | $484.5M | 31% |
| Other | $188.4M | 12% |
| Premium Water | $90.3M | 6% |
| Other Water | $25.8M | 2% |
