Hormel Foods

Consumer Staples Packaged Foods & Meats Austin, Minnesota Last filing Dec 5, 2025 · FY2025

                    Revenue
                    FY2025
                
$12.1B
                    3y CAGR -1.0%
                    
                    P19
                    
                    +1.6%
                    
                    Net income
                    FY2025
                
$478.2M
                    Net margin +4.0%
                    
                    P44
                    
                    -40.6%
                    
                    Total assets
                    FY2025
                
$13.4B
                    ROA +3.6%
                    
                    P31
                    
                    -0.3%
                    
                    Operating cash flow
                    FY2025
                
$845.3M
                    FCF margin +4.4%
                    
                    P28
                    
                    -33.3%

18 yrs · FY2008–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s revenue.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 5 years

Total assets $13.4B

Total liabilities ~$5.5B

Shareholders equity $7.9B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	5.5%	6.2%	6.1%	7.9%	5.4%
Short Term Investments	0.3%	0.2%	0.1%	0.1%	0.2%
Accounts Receivable	6.5%	6.9%	6.7%	7.0%	7.9%
Inventory	14.4%	13.2%	13.9%	13.8%	12.0%
Prepaid Expenses	0.6%	0.3%	0.3%	0.4%	0.4%
Other Current Assets	0.8%	0.4%	0.1%	0.1%	0.1%
Total Current Assets	28.1%	27.2%	27.2%	29.2%	25.9%
Property,Plant and Equipment	18.5%	18.4%	17.9%	17.2%	18.5%
Goodwill	40.7%	41.3%	40.7%	39.5%	43.3%
Intangible Assets	13.6%	14.5%	14.5%	14.5%	16.0%
Long Term Investments	4.4%	6.0%	6.0%	2.2%	2.6%
Other Noncurrent Assets	5.3%	5.2%	4.7%	4.2%	5.2%
Total Assets	110.6%	112.7%	111.1%	106.8%	111.5%
Liabilities
Accounts Payable	6.0%	6.2%	6.4%	6.6%	7.0%
Accrued Liabilities	3.0%	3.1%	2.7%	3.0%	3.0%
Current Portion of Long Term Debt	0.1%	0.1%	7.8%	0.1%	0.1%
Other Current Liabilities	2.3%	2.4%	2.2%	2.2%	2.4%
Total Current Liabilities	11.4%	11.7%	19.1%	11.8%	12.4%
Long Term Debt	23.5%	23.9%	19.5%	26.4%	29.1%
Deferred Tax Liabilities	5.5%	4.9%	4.1%	3.8%	2.4%
Other Noncurrent Liabilities	4.8%	5.0%	4.5%	4.2%	6.2%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	5.1%	4.8%	4.2%	3.8%	3.2%
Retained Earnings	62.1%	64.4%	61.9%	58.7%	60.4%
Accumulated Other Comprehensive Income	-2.0%	-2.2%	-2.2%	-2.1%	-2.4%
Total Stockholders Equity	65.3%	67.1%	63.9%	60.5%	61.2%
Noncontrolling Interest	0.1%	0.1%	0.0%	0.0%	0.0%
Total Liabilitiesand Equity	110.6%	112.7%	111.1%	106.8%	111.5%

Income Statement

Revenue, expense, and profitability

17 accounts · 5 years

Revenue $12.1B

Operating income $718.6M

Net income $478.2M

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	100.0%	100.0%	100.0%	100.0%	100.0%
Expenses Cost of Revenue	84.4%	83.0%	83.5%	82.6%	83.1%
Other Income Expense Gross Profit	15.6%	17.0%	16.5%	17.4%	16.9%
Expenses Selling,General and Administrative	8.2%	8.4%	7.8%	7.1%	7.5%
Expenses Other Operating Expenses	1.5%	-0.4%	-0.1%	-0.2%	-0.4%
Other Income Expense Operating Income	5.9%	9.0%	8.9%	10.5%	9.9%
Other Income Expense Interest Income	0.2%	0.3%	0.2%	0.2%	0.4%
Other Income Expense Interest Expense	0.6%	0.7%	0.6%	0.5%	0.4%
Other Income Expense Other Income/expense	-0.0%	0.1%	-0.1%	—	—
Other Income Expense Income Before Tax	5.5%	8.7%	8.4%	10.3%	9.9%
Income Tax Income Tax Expense	1.5%	1.9%	1.8%	2.2%	1.9%
net Income Other Items Below Tax	0.0%	0.0%	0.0%	-0.0%	-0.0%
net Income net Income	4.0%	6.8%	6.6%	8.0%	8.0%
net Income Comprehensive Income	4.1%	6.8%	6.4%	8.2%	9.0%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	4.5%	4.6%	4.5%	4.4%	4.8%

Cash Flow Statement

Operating, investing, and financing flows

20 accounts · 5 years

Operating cash flow $845.3M

Investing cash flow $-298.6M

Financing cash flow $-614.0M

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	3.9%	6.7%	6.5%	8.0%	8.0%
Operating Activities Depreciation and Amortization	2.2%	2.2%	2.1%	1.9%	1.8%
Operating Activities Stock Based Compensation	0.2%	0.2%	0.2%	0.2%	0.2%
Operating Activities Deferred Income Taxes	0.4%	0.7%	0.3%	1.4%	0.3%
Operating Activities Changes In Operating Assets and Liabilities	-2.0%	0.6%	-1.0%	-3.0%	-1.5%
Operating Activities Other Non Cash Items	2.2%	0.2%	0.6%	0.6%	-0.0%
Operating Activities net Cash From Operating Activities	7.0%	10.6%	8.7%	9.1%	8.8%
Investing Activities Capital Expenditures	-2.6%	-2.2%	-2.2%	-2.2%	-2.0%
Investing Activities Purchases of Investments	-0.1%	-0.1%	-0.0%	—	-0.0%
Investing Activities Other Investing Activities	0.2%	0.2%	-3.5%	0.1%	0.1%
Investing Activities net Cash From Investing Activities	-2.5%	-2.0%	-5.7%	-2.1%	-31.8%
Financing Activities Proceeds From Debt	0.0%	4.2%	0.0%	0.0%	20.0%
Financing Activities Repayment of Debt	-0.1%	-8.0%	-0.1%	-0.1%	-2.3%
Financing Activities Repurchase of Common Stock	0.0%	0.0%	-0.1%	0.0%	-0.2%
Financing Activities Dividends Paid	-5.2%	-5.2%	-4.9%	-4.5%	-4.6%
Financing Activities Proceeds From Stock Issuance	0.2%	0.3%	0.1%	0.6%	0.4%
Financing Activities Other Financing Activities	0.0%	0.0%	0.0%	0.0%	—
Financing Activities net Cash From Financing Activities	-5.1%	-8.6%	-5.0%	-3.9%	13.4%
Cash Reconciliation Effect of Exchange Rate On Cash	-0.0%	0.0%	-0.0%	-0.2%	0.0%
Cash Reconciliation net Change In Cash	-0.6%	0.0%	-2.0%	3.0%	-9.7%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+15.6%	+17.0%	+16.5%	+17.4%	+16.9%
Operating margin	+5.9%	+9.0%	+8.9%	+10.5%	+9.9%
Net margin	+4.0%	+6.8%	+6.6%	+8.0%	+8.0%
FCF margin	+4.4%	+8.5%	+6.4%	+6.9%	+6.8%
Growth
Revenue CAGR (3y)	-1.0%	+1.5%	+8.0%	+9.5%	+6.1%
Returns
ROE	+6.1%	+10.1%	+10.3%	+13.3%	+13.0%
ROA	+3.6%	+6.0%	+5.9%	+7.5%	+7.2%
ROIC	+5.1%	+8.2%	+8.1%	+10.4%	+9.4%
Liquidity
Current ratio	2.47x	2.32x	1.43x	2.47x	2.08x
Quick ratio	1.05x	1.11x	0.67x	1.26x	1.07x
Leverage
D/E	0.70x	0.68x	0.74x	0.77x	0.82x
Interest coverage	9.21x	13.20x	14.61x	21.00x	25.92x
Efficiency
Asset turnover	0.90x	0.89x	0.90x	0.94x	0.90x
Cash conversion cycle	+60d	+56d	+57d	+57d	+51d

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Hormel Foods

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