At a glance
Sprouts Farmers Market LLC is worth $5.72B, about 12 times its fiscal 2025 earnings. Revenue grew 14.1% to $8.81B in fiscal 2025, with 5.9% kept as profit; over 5 years it has grown 6.4% a year. It pays no dividend; it spent $1.29B buying back its shares over FY2021–FY2025. The stock returned −41.9% over the past year with dividends reinvested and +23.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 26.0% in the 2020 crash (S&P 500: 33.7%) and 33.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high within a month and 10 months after the lows.
The business in plain English
Sprouts Farmers Market runs specialty grocery stores built around fresh, natural and organic food. Based in Phoenix, it had 477 stores in 24 states as of December 28, 2025. The stores flip the usual supermarket layout: produce sits in the middle, taking about 20% of selling space, surrounded by groceries, meat, seafood, deli, bakery, vitamins, bulk foods, and beer and wine. It targets shoppers it calls "health enthusiasts" and "selective shoppers," and also offers delivery and pickup online.
Sprouts makes money the way grocers do, charging shoppers more than it pays its hundreds of suppliers. Revenue was about $8.8 billion in fiscal 2025, which ended December 28, 2025. All stores are in the US; the company breaks sales down by product type. Perishables such as produce, meat, dairy and bakery made up 57%; non-perishables such as packaged groceries, vitamins and frozen food made up 43%. Produce alone was about 17% of net sales. Sprouts Brand, its own label found only in its stores, brought in just over 25% of revenue.
Growth comes mainly from new stores. Sprouts opened 112 from 2021 through 2025 and sees room for about 10% more stores a year. Newer-format stores are smaller, generally 21,000 to 25,000 square feet versus an average of about 28,000, and cheaper to build.
Price history
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SFM -41.9% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By product or service
| Perishables | $5.02B | 57% |
| Non-Perishables | $3.79B | 43% |
Latest results
- In Q3 FY2026 (ended Sep 27, 2026), revenue was $2.30B, up 4.7% from a year earlier, and net income was $113.4M (-5.6%).
- For fiscal 2025, revenue was $8.81B (+14.1% year over year; +6.4% a year from FY2020 to FY2025) with a 5.9% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +6.4% good |
|---|---|
| Operating margin | 7.8% watch |
| Free cash flow margin | 5.3% watch |
| Return on equity (FY2025) | 37.3% good |
| Return on assets (FY2025) | 12.6% good |
| Cash and investments | $228.7M (no borrowings found in the filings) good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $6.47B | $287.4M | $372.1M |
| FY2021 | $6.10B | $244.2M | $262.4M |
| FY2022 | $6.40B | $261.2M | $247.3M |
| FY2023 | $6.84B | $258.9M | $239.8M |
| FY2024 | $7.72B | $380.6M | $414.8M |
| FY2025 | $8.81B | $523.7M | $467.7M |
Valuation snapshot
| Market value | $5.72B |
|---|---|
| P/E ratio | 11.7 |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Sprouts Farmers Market LLC’s market value went from $2.69B at the end of 2016 to $5.72B on Oct 28, 2026, about 2.1 times as much; since the end of 2025 it is down 26%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $5.72B | -26.3% |
| 2025 | $7.76B | -38.9% |
| 2024 | $12.71B | +160.0% |
| 2023 | $4.89B | +42.6% |
| 2022 | $3.43B | +2.8% |
| 2021 | $3.33B | +40.5% |
| 2020 | $2.37B | +3.7% |
| 2019 | $2.29B | -23.8% |
| 2018 | $3.00B | -7.4% |
| 2017 | $3.24B | +20.3% |
| 2016 | $2.69B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SFM price data to Oct 28, 2026 | -22.2% | -41.9% | +12.6% | +23.0% | +10.8% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -22.2% |
| 2025 | -37.3% |
| 2024 | +164.1% |
| 2023 | +48.6% |
| 2022 | +9.1% |
| 2021 | +47.7% |
| 2020 | +3.9% |
| 2019 | -17.7% |
| 2018 | -3.5% |
| 2017 | +28.7% |
| 2016 | -28.9% |
| 2015 | -21.8% |
| 2014 | -11.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Gained 4.5% over that stretch · deepest drop along the way 26%, back to its old high 0.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 7.5% over that stretch · deepest drop along the way 33.9%, back to its old high 9.5 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 30 sales ($10.8M), 10 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 11, 2026 | Nicholas Konat President & COO | sell | $1.1M |
| Aug 3, 2026 | Jack Sinclair Chief Executive Officer, Director | sell (plan) | $964K |
| Jul 6, 2026 | Jack Sinclair Chief Executive Officer, Director | sell (plan) | $943K |
| Jun 8, 2026 | Jack Sinclair Chief Executive Officer, Director | sell (plan) | $938K |
| Aug 4, 2026 | Jack Sinclair Chief Executive Officer, Director | sell (plan) | $936K |
Who owns it
Large shareholders (13G filings)
| FMR LLC | 15% | Jun 30, 2026 |
| BlackRock, Inc. | 9% | Jun 30, 2026 |
| Vanguard Capital Management | 5.31% | Mar 31, 2026 |
| Vanguard Portfolio Management | 4.52% | Jun 30, 2026 |
ETFs with the most weight in SFM
| NXTE AXS Green Alpha ETF | 5.29% |
| XMMO Invesco S&P MidCap Momentum ETF | 3.8% |
| FFTY Innovator IBD 50 ETF | 3.65% |
| OMFS Invesco Russell 2000 Dynamic Multifactor ETF | 3.6% |
| FCUS Pinnacle Focused Opportunities ETF | 3.41% |
| PSL Invesco Dorsey Wright Consumer Staples Momentum ETF | 3.19% |
| PBJ Invesco Food & Beverage ETF | 2.96% |
| QMOM Alpha Architect U.S. Quantitative Momentum ETF | 2.17% |
What could go wrong
- Heavy reliance on fresh produce supply. Produce made up about 17% of net sales in fiscal 2025. Supply depends on farms meeting Sprouts' standards, animal disease such as avian flu, farm labor and tariffs, all largely outside the company's control.
- Growth depends on opening many new stores. The growth plan leans on adding about 10% more stores a year. New stores can drag on short-term results and may take a long time, or fail, to reach the sales of mature stores.
- Distribution center problems could disrupt deliveries. In 2025 Sprouts began moving meat and seafood distribution in-house. A serious problem at a distribution center could stop produce, meat and seafood from reaching stores on time.
- Stores are clustered in certain regions. Stores are concentrated geographically, so a local economic slump, natural disaster or effects of climate change in one area could hit much of the business at once.
- Rivals are crowding into healthy food. Some rivals are opening more stores and giving more space to fresh, natural and organic food. Rivals with bigger budgets could undercut prices, costing Sprouts customers, sales and margin.
- Shoppers may trade down when money is tight. Inflation, recession or high unemployment can make shoppers more price-conscious. They may spend less at Sprouts or switch to cheaper options such as warehouse clubs, conventional supermarkets and dollar stores.
Recent events
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Executive or board change
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Sprouts pays no dividend, and its 10-K says it does not expect to pay cash dividends in the near future. So income investors get no regular payments; any return comes from the share price, and raising cash means selling shares. Rather than dividends, it returned cash through share repurchases (buybacks): about $1.29 billion from fiscal 2021 through 2025, including about $472 million in fiscal 2025. Shares outstanding fell 17.8% between November 2021 and October 2026.
The stock has swung sharply in downturns. During the COVID crash it fell 26% from February 21 to March 12, 2020, yet recovered its prior high by March 17 and ended the market's slide 4.5% higher. In the 2022 bear market it dropped 33.9% from April 8 to May 18, 2022, and took about 9.5 months to recover. Its price history starts after the 2008 crisis. In the year to October 28, 2026, it fell 41.9%. A single stock carries more risk than a diversified fund.
Questions investors ask
Does Sprouts Farmers Market pay a dividend?
No. Sprouts pays no dividend, and its annual report for fiscal 2025 says it does not expect to pay cash dividends in the near future. It has returned cash through share repurchases instead, spending about $1.29 billion from fiscal 2021 through fiscal 2025, which helped cut shares outstanding by 17.8% between November 2021 and October 2026. Investors who need regular income from a holding would get none here and could raise cash only by selling shares.
How does Sprouts Farmers Market make money?
Sprouts makes money by running grocery stores focused on fresh, natural and organic food, plus online delivery and pickup. In fiscal 2025, which ended December 28, 2025, revenue was about $8.81 billion and net income about $524 million, so it kept 5.9 cents of profit from each dollar of sales. Perishables such as produce, meat and dairy were 57% of sales and non-perishables 43%. Its own Sprouts Brand products made up just over 25% of revenue, and produce alone about 17% of net sales.
How many stores does Sprouts Farmers Market have?
Sprouts had 477 stores in 24 states as of December 28, 2025. It opened 112 new stores from 2021 through 2025 and believes it has room to grow its store count by about 10% a year. Newer stores are smaller, generally 21,000 to 25,000 square feet against a chain average of about 28,000, and cost less to build and run. About 80% of stores were within 250 miles of one of its distribution centers at the end of fiscal 2025.
How has Sprouts stock performed?
Sprouts shares have been volatile. As of October 28, 2026, the share price had risen about 23% a year on average over five years and 10.8% a year over ten, but it fell 41.9% over the year to that date. It gained 164% in calendar 2024, lost 37.3% in 2025 and was down 22.2% for 2026 through October 28. Growth slowed too: revenue rose 4.7% and net income fell 5.6% in the quarter ended September 27, 2026, from a year earlier, after revenue grew 14.1% in fiscal 2025.
What is Sprouts Farmers Market's P/E ratio?
Sprouts shares traded at about 11.7 times earnings as of October 28, 2026, based on fiscal 2025 earnings of $5.31 per share. The price-to-earnings (P/E) ratio compares the share price with a year of profit per share, so investors were paying about $11.70 for each $1 of fiscal 2025 earnings. The company's market value was about $5.72 billion. The figure uses past profits; net income fell 5.6% year over year in the quarter ended September 27, 2026.