Cal-Maine Foods, Inc. (CALM) 10-Year Financial Performance & Capital Metrics

CALM • • Industrial / General

Consumer DefensiveFarm ProductsAnimal Protein ProductionPoultry & Egg Producers

AboutCal-Maine Foods, Inc., together with its subsidiaries, produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain brand names, as well as under private labels. It sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States. Cal-Maine Foods, Inc. was founded in 1957 and is headquartered in Ridgeland, Mississippi.Show more

Revenue $4.26B +83.2%
EBITDA $1.63B +315.2%
Net Income $1.22B +339.0%
EPS (Diluted) 24.95 +338.5%
Gross Margin 43.43% +86.6%
EBITDA Margin 38.26% +126.7%
Operating Margin 36.05% +168.4%
Net Margin 28.63% +139.7%
ROE 55.93% +242.8%
ROIC 63.58% +290.2%
Debt/Equity -
Interest Coverage 2510.68 +341.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 42.7%
✓Strong 5Y profit CAGR of 131.4%
✓Strong Piotroski F-Score: 7/9
✓FCF machine: 25.0% free cash flow margin
✓Strong 5Y sales CAGR of 25.8%
✓Healthy 5Y average net margin of 14.5%

✗Weaknesses

✗Weak momentum: RS Rating 13 (bottom 13%)
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y10.46%

5Y25.82%

3Y33.85%

TTM36.6%

Profit (Net Income) CAGR

10Y22.43%

5Y131.4%

3Y109.52%

TTM83.33%

EPS CAGR

10Y22.31%

5Y130.92%

3Y109.33%

TTM84.2%

ROCE

10Y Avg20.64%

5Y Avg30.91%

3Y Avg48.31%

Latest64.49%

Peer Comparison

Poultry & Egg Producers

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VITLVital Farms, Inc.	1.32B	29.49	24.99	28.49%	7.84%	16.65%	2.71%	0.07
CALMCal-Maine Foods, Inc.	3.68B	77.12	3.09	83.19%	27.37%	42.74%	29.05%

Profit & Loss

	May 2016	May 2017	May 2018	May 2019	May 2020	May 2021	May 2022	May 2023	May 2024	May 2025
Sales/Revenue+	1.91B	1.07B	1.5B	1.36B	1.35B	1.35B	1.78B	3.15B	2.33B	4.26B
Revenue Growth %	0.21%	-0.44%	0.4%	-0.09%	-0.01%	-0%	0.32%	0.77%	-0.26%	0.83%
Cost of Goods Sold+	1.26B	1.03B	1.14B	1.14B	1.17B	1.19B	1.44B	1.95B	1.78B	2.41B
COGS % of Revenue	0.66%	0.96%	0.76%	0.84%	0.87%	0.88%	0.81%	0.62%	0.77%	0.57%
Gross Profit+	648.07M	45.55M	361.05M	222.86M	179.59M	160.66M	337.06M	1.2B	541.57M	1.85B
Gross Margin %	0.34%	0.04%	0.24%	0.16%	0.13%	0.12%	0.19%	0.38%	0.23%	0.43%
Gross Profit Growth %	0.64%	-0.93%	6.93%	-0.38%	-0.19%	-0.11%	1.1%	2.55%	-0.55%	2.42%
Operating Expenses+	176.2M	179.7M	260.54M	177.08M	178.32M	186.93M	193.52M	228.73M	229.12M	314.35M
OpEx % of Revenue	0.09%	0.17%	0.17%	0.13%	0.13%	0.14%	0.11%	0.07%	0.1%	0.07%
Selling, General & Admin	177.76M	176.03M	179.32M	177.04M	178.24M	183.94M	198.63M	232.21M	232.98M	314.45M
SG&A % of Revenue	0.09%	0.16%	0.12%	0.13%	0.13%	0.14%	0.11%	0.07%	0.1%	0.07%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-1.56M	3.66M	81.22M	33K	82K	2.98M	-5.11M	-3.48M	-3.86M	-103K
Operating Income+	471.88M	-134.15M	100.51M	45.78M	1.27M	-26.26M	143.54M	967.73M	312.45M	1.54B
Operating Margin %	0.25%	-0.12%	0.07%	0.03%	0%	-0.02%	0.08%	0.31%	0.13%	0.36%
Operating Income Growth %	1.01%	-1.28%	1.75%	-0.54%	-0.97%	-21.7%	6.47%	5.74%	-0.68%	3.92%
EBITDA+	516.47M	-85.03M	154.53M	100.43M	59.37M	33.21M	211.93M	1.04B	392.69M	1.63B
EBITDA Margin %	0.27%	-0.08%	0.1%	0.07%	0.04%	0.02%	0.12%	0.33%	0.17%	0.38%
EBITDA Growth %	0.87%	-1.16%	2.82%	-0.35%	-0.41%	-0.44%	5.38%	3.91%	-0.62%	3.15%
D&A (Non-Cash Add-back)	44.59M	49.11M	54.03M	54.65M	58.1M	59.48M	68.39M	72.23M	80.24M	94.02M
EBIT	488.4M	-113.98M	117.6M	71.45M	20.56M	-9.74M	166.42M	999.13M	360.52M	1.6B
Net Interest Income+	3.16M	2.79M	3.43M	7.33M	4.46M	2.62M	585K	17.97M	31.73M	48.06M
Interest Income	4.31M	3.1M	3.7M	7.98M	4.96M	2.83M	988K	18.55M	32.27M	48.67M
Interest Expense	1.16M	318K	265K	644K	498K	213K	403K	583K	549K	612K
Other Income/Expense	15.37M	19.85M	16.83M	25.02M	18.79M	16.32M	22.48M	30.82M	47.52M	66.6M
Pretax Income+	487.25M	-114.29M	117.34M	70.81M	20.06M	-9.95M	166.01M	998.55M	359.97M	1.6B
Pretax Margin %	0.26%	-0.11%	0.08%	0.05%	0.01%	-0.01%	0.09%	0.32%	0.15%	0.38%
Income Tax+	169.2M	-39.87M	-8.86M	15.74M	1.73M	-12.01M	33.57M	241.82M	83.69M	384.91M
Effective Tax Rate %	0.65%	0.65%	1.07%	0.77%	0.92%	-0.21%	0.8%	0.76%	0.77%	0.76%
Net Income+	316.04M	-74.28M	125.93M	54.23M	18.39M	2.06M	132.65M	758.02M	277.89M	1.22B
Net Margin %	0.17%	-0.07%	0.08%	0.04%	0.01%	0%	0.07%	0.24%	0.12%	0.29%
Net Income Growth %	0.96%	-1.24%	2.7%	-0.57%	-0.66%	-0.89%	63.39%	4.71%	-0.63%	3.39%
Net Income (Continuing)	318.05M	-74.43M	126.2M	55.06M	18.33M	2.06M	132.44M	756.73M	276.28M	1.22B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	2.09M	1.81M	2.35M	3.18M	0	0	-206K	-1.5M	-3.1M	5.39M
EPS (Diluted)+	6.53	-1.54	2.60	1.12	0.38	0.04	2.72	15.52	5.69	24.95
EPS Growth %	0.96%	-1.24%	2.69%	-0.57%	-0.66%	-0.89%	63.3%	4.71%	-0.63%	3.38%
EPS (Basic)	6.56	-1.54	2.60	1.12	0.38	0.04	2.73	15.58	5.70	25.04
Diluted Shares Outstanding	48.37M	48.36M	48.47M	48.59M	48.47M	48.66M	48.73M	48.83M	48.87M	48.89M
Basic Shares Outstanding	48.2M	48.36M	48.35M	48.47M	48.47M	48.52M	48.58M	48.65M	48.72M	48.72M
Dividend Payout Ratio	0.38%	-	-	0.77%	-	0.8%	0.05%	0.33%	0.33%	0.27%

Balance Sheet

	May 2016	May 2017	May 2018	May 2019	May 2020	May 2021	May 2022	May 2023	May 2024	May 2025
Total Current Assets+	626.28M	436.21M	587.52M	567.75M	522.25M	519.93M	661.52M	1.12B	1.24B	1.97B
Cash & Short-Term Investments	389.55M	156.03M	331.02M	319.43M	232.29M	169.51M	174.51M	647.91M	812.38M	1.39B
Cash Only	29.05M	17.56M	48.43M	69.25M	78.13M	57.35M	59.08M	292.82M	237.88M	500.39M
Short-Term Investments	360.5M	138.46M	282.59M	250.18M	154.16M	112.16M	115.43M	355.09M	574.5M	892.71M
Accounts Receivable	79.28M	117.2M	85.84M	71.76M	98.38M	126.64M	219.4M	187.21M	162.44M	272.36M
Days Sales Outstanding	15.16	39.81	20.85	19.24	26.57	34.27	45.06	21.72	25.49	23.33
Inventory	154.8M	160.69M	168.64M	172.24M	187.22M	218.38M	263.32M	284.42M	261.78M	295.67M
Days Inventory Outstanding	44.82	57	53.91	55.23	58.3	67.07	66.74	53.24	53.53	44.76
Other Current Assets	0	2.29M	2.02M	4.33M	4.37M	5.41M	4.29M	5.38M	5.24M	6.98M
Total Non-Current Assets+	485.48M	596.89M	562.93M	588.52M	693.71M	722.16M	775.79M	838.8M	957.1M	1.13B
Property, Plant & Equipment	392.27M	458.18M	425.38M	456.29M	560.58M	591.67M	679.17M	744.54M	857.23M	1.03B
Fixed Asset Turnover	4.87x	2.35x	3.53x	2.98x	2.41x	2.28x	2.62x	4.23x	2.71x	4.15x
Goodwill	29.2M	35.52M	35.52M	35.52M	35.52M	35.52M	44.01M	44.01M	45.78M	46.78M
Intangible Assets	4.96M	29.15M	26.31M	23.76M	22.82M	20.34M	18.13M	15.9M	16M	15.16M
Long-Term Investments	53.98M	69.3M	66.81M	70.95M	63.73M	59.06M	19.28M	16.53M	11.2M	11.1M
Other Non-Current Assets	5.08M	4.73M	8.9M	1.99M	1.79M	2.65M	5.38M	8.63M	12.72M	16.8M
Total Assets+	1.11B	1.03B	1.15B	1.16B	1.22B	1.24B	1.44B	1.96B	2.2B	3.1B
Asset Turnover	1.72x	1.04x	1.31x	1.18x	1.11x	1.09x	1.24x	1.60x	1.06x	1.37x
Asset Growth %	0.2%	-0.07%	0.11%	0.01%	0.05%	0.02%	0.16%	0.37%	0.12%	0.41%
Total Current Liabilities+	83.45M	64.68M	107.84M	74.91M	93.18M	90.1M	184.67M	182.73M	227.74M	308.37M
Accounts Payable	36.26M	30.63M	37.84M	39.21M	55.9M	52.78M	82.05M	82.59M	75.86M	101.03M
Days Payables Outstanding	10.5	10.86	12.1	12.57	17.41	16.21	20.8	15.46	15.51	15.3
Short-Term Debt	16.32M	4.83M	3.54M	1.7M	1M	906K	696K	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	0	13.41M	30.05M	11.09M	13M	12.6M	50.18M	53.12M	75.56M	147.07M
Current Ratio	7.50x	6.74x	5.45x	7.58x	5.60x	5.77x	3.58x	6.16x	5.45x	6.38x
Quick Ratio	5.65x	4.26x	3.88x	5.28x	3.60x	3.35x	2.16x	4.60x	4.30x	5.42x
Cash Conversion Cycle	49.48	85.95	62.66	61.9	67.46	85.13	91	59.5	63.51	52.79
Total Non-Current Liabilities+	110.95M	123.92M	86.93M	91.56M	113.1M	139.22M	148.29M	171.41M	174.15M	228.1M
Long-Term Debt	9.25M	6.11M	2.55M	641K	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.39M	1.47M	747K	0	0	0
Deferred Tax Liabilities	95.38M	110.28M	76.06M	82.6M	102.03M	127.33M	138.01M	161.41M	157.04M	172.52M
Other Non-Current Liabilities	6.32M	7.53M	8.32M	8.33M	8.68M	10.42M	9.53M	10M	17.11M	55.58M
Total Liabilities	194.4M	188.6M	194.76M	166.47M	206.29M	229.31M	332.96M	354.14M	401.89M	536.47M
Total Debt+	25.57M	10.94M	6.09M	2.34M	3.39M	2.38M	1.44M	0	0	0
Net Debt	-3.48M	-6.63M	-42.34M	-66.91M	-74.74M	-54.97M	-57.64M	-292.82M	-237.88M	-500.39M
Debt / Equity	0.03x	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x	-	-	-
Debt / EBITDA	0.05x	-	0.04x	0.02x	0.06x	0.07x	0.01x	-	-	-
Net Debt / EBITDA	-0.01x	-	-0.27x	-0.67x	-1.26x	-1.66x	-0.27x	-0.28x	-0.61x	-0.31x
Interest Coverage	408.20x	-421.84x	379.27x	71.09x	2.55x	-123.31x	356.17x	1659.91x	569.13x	2510.68x
Total Equity+	917.36M	844.49M	955.68M	989.81M	1.01B	1.01B	1.1B	1.61B	1.8B	2.57B
Equity Growth %	0.3%	-0.08%	0.13%	0.04%	0.02%	0%	0.09%	0.46%	0.12%	0.43%
Book Value per Share	18.97	17.46	19.72	20.37	20.83	20.82	22.66	32.96	36.77	52.48
Total Shareholders' Equity	915.27M	842.69M	953.33M	986.62M	1.01B	1.01B	1.1B	1.61B	1.8B	2.56B
Common Stock	751K	751K	751K	751K	751K	751K	751K	751K	751K	751K
Retained Earnings	890.44M	816.05M	924.92M	954.53M	975.15M	975.98M	1.07B	1.57B	1.76B	2.57B
Treasury Stock	-22.27M	-23.91M	-24.97M	-25.87M	-26.67M	-27.43M	-28.45M	-30.01M	-31.6M	-85.89M
Accumulated OCI	-48K	-128K	-693K	355K	79K	-558K	-1.6M	-2.89M	-1.77M	-1.01M
Minority Interest	2.09M	1.81M	2.35M	3.18M	0	0	-206K	-1.5M	-3.1M	5.39M

Cash Flow

	May 2016	May 2017	May 2018	May 2019	May 2020	May 2021	May 2022	May 2023	May 2024	May 2025
Cash from Operations+	381.84M	-49.32M	200.41M	115.08M	73.61M	26.14M	126.21M	863.01M	451.4M	1.23B
Operating CF Margin %	0.2%	-0.05%	0.13%	0.08%	0.05%	0.02%	0.07%	0.27%	0.19%	0.29%
Operating CF Growth %	0.95%	-1.13%	5.06%	-0.43%	-0.36%	-0.64%	3.83%	5.84%	-0.48%	1.72%
Net Income	318.05M	-74.43M	126.2M	55.06M	18.33M	2.06M	132.44M	756.73M	277.89M	1.22B
Depreciation & Amortization	44.59M	49.11M	54.03M	54.65M	58.1M	59.48M	68.39M	72.23M	80.24M	94.02M
Stock-Based Compensation	3.07M	3.43M	3.47M	3.62M	3.62M	3.78M	4.06M	4.21M	4.36M	0
Deferred Taxes	19.39M	14.83M	-33.81M	6.12M	10.28M	22.35M	5.68M	24.47M	-9.67M	11.57M
Other Non-Cash Items	-7.38M	2.06M	-1.29M	-3.76M	3.6M	4.53M	-5.27M	-1.49M	-3.01M	6.33M
Working Capital Changes	4.11M	-44.33M	51.83M	-612K	-20.32M	-66.06M	-79.09M	6.86M	101.6M	-103.19M
Change in Receivables	21.16M	-37.22M	-28.38M	16.01M	-17.68M	-33.49M	-93.9M	58.13M	-27.57M	-105M
Change in Inventory	-8.54M	2.39M	-7.95M	-2.29M	-9.7M	-31.16M	-36.15M	-21.1M	28.8M	-12.22M
Change in Payables	-8.51M	-9.49M	28.38M	-14.34M	17.68M	-1.41M	54.78M	-2.85M	9.35M	65.31M
Cash from Investing+	-212.55M	56.13M	-163.85M	-47.82M	-61.37M	-44.19M	-117.02M	-375.11M	-412.59M	-579.52M
Capital Expenditures	-76.13M	-66.66M	-19.67M	-67.99M	-124.18M	-95.07M	-72.4M	-136.57M	-147.12M	-161.25M
CapEx % of Revenue	0.04%	0.06%	0.01%	0.05%	0.09%	0.07%	0.04%	0.04%	0.06%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	8.29M	6.67M	7.54M	9.48M	10.42M	6.66M	8.74M	2.08M	3.27M	0
Cash from Financing+	-148.91M	-18.3M	-5.7M	-46.45M	-3.36M	-2.72M	-7.46M	-254.16M	-93.76M	-386.72M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-120.94M	0	0	-41.71M	0	-1.65M	-6.12M	-252.29M	-91.86M	-330.29M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-918K	-73K	279K	0	-755K	5K	3K	0	0	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	305.71M	-115.97M	180.74M	47.1M	-50.57M	-68.93M	53.81M	726.44M	304.28M	1.07B
FCF Margin %	0.16%	-0.11%	0.12%	0.03%	-0.04%	-0.05%	0.03%	0.23%	0.13%	0.25%
FCF Growth %	1.7%	-1.38%	2.56%	-0.74%	-2.07%	-0.36%	1.78%	12.5%	-0.58%	2.51%
FCF per Share	6.32	-2.40	3.73	0.97	-1.04	-1.42	1.10	14.88	6.23	21.83
FCF Conversion (FCF/Net Income)	1.21x	0.66x	1.59x	2.12x	4.00x	12.69x	0.95x	1.14x	1.62x	1.01x
Interest Paid	1.07M	0	0	644K	498K	508K	379K	561K	0	0
Taxes Paid	166.84M	0	0	36.31M	32K	995K	1.75M	258.25M	35.1M	426.17M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	38.97%	-8.43%	13.99%	5.57%	1.84%	0.2%	12.53%	55.86%	16.31%	55.93%
Return on Invested Capital (ROIC)	42.62%	-11.49%	8.61%	3.74%	0.1%	-2.08%	10.74%	61.42%	16.3%	63.58%
Gross Margin	33.95%	4.24%	24.02%	16.37%	13.29%	11.91%	18.97%	38.03%	23.28%	43.43%
Net Margin	16.56%	-6.91%	8.38%	3.98%	1.36%	0.15%	7.46%	24.09%	11.94%	28.63%
Debt / Equity	0.03x	0.01x	0.01x	0.00x	0.00x	0.00x	0.00x	-	-	-
Interest Coverage	408.20x	-421.84x	379.27x	71.09x	2.55x	-123.31x	356.17x	1659.91x	569.13x	2510.68x
FCF Conversion	1.21x	0.66x	1.59x	2.12x	4.00x	12.69x	0.95x	1.14x	1.62x	1.01x
Revenue Growth	21.1%	-43.7%	39.87%	-9.43%	-0.7%	-0.19%	31.74%	77.04%	-26.06%	83.19%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Non-Specialty Shell Egg Sales	810.31M	830.28M	766.28M	-	-	1.29B
Non-Specialty Shell Egg Sales Growth	-	2.46%	-7.71%	-	-	-
Specialty Shell Egg Sales	478.06M	485.46M	539.78M	648.84M	956.99M	925.66M
Specialty Shell Egg Sales Growth	-	1.55%	11.19%	20.20%	47.49%	-3.27%
Egg Products	41.51M	31.41M	36.73M	60M	122.27M	89.01M
Egg Products Growth	-	-24.32%	16.93%	63.35%	103.77%	-27.20%
Other	5.21M	4.45M	6.19M	6.32M	14.99M	20.03M
Other Growth	-	-14.47%	39.04%	2.13%	137.16%	33.57%
Co-Pack Specialty Shell Egg Sales	26.11M	-	-	-	-	-
Co-Pack Specialty Shell Egg Sales Growth	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Cal-Maine Foods, Inc. (CALM) has a price-to-earnings (P/E) ratio of 3.1x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Cal-Maine Foods, Inc. (CALM) reported $4.21B in revenue for fiscal year 2025. This represents a 279% increase from $1.11B in 2012.

Cal-Maine Foods, Inc. (CALM) grew revenue by 83.2% over the past year. This is strong growth.

Yes, Cal-Maine Foods, Inc. (CALM) is profitable, generating $1.15B in net income for fiscal year 2025 (28.6% net margin).

Dividend & Returns

Yes, Cal-Maine Foods, Inc. (CALM) pays a dividend with a yield of 8.76%. This makes it attractive for income-focused investors.

Cal-Maine Foods, Inc. (CALM) has a return on equity (ROE) of 55.9%. This is excellent, indicating efficient use of shareholder capital.

Cal-Maine Foods, Inc. (CALM) generated $1.17B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

...