Revenue growth has trended toward contraction, with the most recent quarter showing a 4.9% year-over-year decline and operating margins frequently dipping below 2%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 |
|---|
| Sales/Revenue | 4.27B | 4.32B | 4.28B | 4.32B | 4.41B | 4.25B | 4.21B | 4.48B | 4.49B | 4.08B | 4B | 4.1B | 3.92B | 3.69B | 3.41B | 3.57B | 3.53B | 3.5B | 3.53B | 3.37B | 3.21B | 3.26B | 2.91B | 2.49B | 2.09B | 1.93B | 1.86B | 1.74B | 1.6B | 1.21B |
| Revenue Growth % | 0.02% | 1.08% | -0.96% | -2.12% | 3.87% | 0.89% | -6.06% | -0.17% | 9.89% | 2.02% | -2.23% | 4.4% | 6.32% | 8.23% | -4.5% | 1.09% | 1% | -0.98% | 4.92% | 4.7% | -1.39% | 12.17% | 16.86% | 18.96% | 8.43% | 3.69% | 6.66% | 8.94% | 32.41% | - |
| Cost of Goods Sold | 3.87B | 3.92B | 3.92B | 3.97B | 4.1B | 3.95B | 3.95B | 4.19B | 4.21B | 3.75B | 3.55B | 3.71B | 3.56B | 3.4B | 3.08B | 3.28B | 3.29B | 3.19B | 3.19B | 3B | 2.98B | 2.95B | 2.64B | 2.16B | 1.75B | 1.65B | 1.64B | 1.55B | 1.37B | 1.05B |
| COGS % of Revenue | - | 90.77% | 91.65% | 92.04% | 93.03% | 93.13% | 93.85% | 93.51% | 93.88% | 91.92% | 88.68% | 90.67% | 90.82% | 92.12% | 90.48% | 91.77% | 93.13% | 91.11% | 90.26% | 89.07% | 92.86% | 90.44% | 90.89% | 86.8% | 83.89% | 85.33% | 88.1% | 88.92% | 85.7% | 86.95% |
| Gross Profit | 395.9M | 399.1M | 357.2M | 343.6M | 307.5M | 291.9M | 259M | 291M | 274.5M | 330.1M | 453.4M | 382M | 360.2M | 290.8M | 324.5M | 293.8M | 242.6M | 310.8M | 344M | 367.9M | 229.5M | 311.5M | 264.7M | 328.2M | 336.7M | 282.9M | 221.3M | 193.2M | 228.8M | 157.7M |
| Gross Margin % | 9.28% | 9.23% | 8.35% | 7.96% | 6.97% | 6.87% | 6.15% | 6.49% | 6.12% | 8.08% | 11.32% | 9.33% | 9.18% | 7.88% | 9.52% | 8.23% | 6.87% | 8.89% | 9.74% | 10.93% | 7.14% | 9.56% | 9.11% | 13.2% | 16.11% | 14.67% | 11.9% | 11.08% | 14.3% | 13.05% |
| Gross Profit Growth % | - | 11.73% | 3.96% | 11.74% | 5.34% | 12.7% | -11% | 6.01% | -16.84% | -27.19% | 18.69% | 6.05% | 23.87% | -10.39% | 10.45% | 21.1% | -21.94% | -9.65% | -6.5% | 60.3% | -26.32% | 17.68% | -19.35% | -2.52% | 19.02% | 27.84% | 14.54% | -15.56% | 45.09% | - |
| Operating Expenses | 215.7M | 212.7M | 196.8M | 181.8M | 179M | 192.9M | 196.2M | 195.7M | 194.7M | 173.2M | 187.4M | 183.9M | 175.8M | 176.9M | 177.2M | 190.4M | 166.9M | 165.8M | 162.5M | 176.8M | 201.6M | 190.9M | 131M | 107.8M | 122.3M | 118M | 138.7M | 108.7M | 94.1M | 62.9M |
| OpEx % of Revenue | - | 4.92% | 4.6% | 4.21% | 4.06% | 4.54% | 4.66% | 4.37% | 4.34% | 4.24% | 4.68% | 4.49% | 4.48% | 4.79% | 5.2% | 5.33% | 4.73% | 4.74% | 4.6% | 5.25% | 6.27% | 5.86% | 4.51% | 4.33% | 5.85% | 6.12% | 7.46% | 6.24% | 5.88% | 5.21% |
| Selling, General & Admin | 51.1M | 212.7M | 196.8M | 181.8M | 179M | 192.9M | 196.2M | 195.7M | 191.5M | 169.9M | 184.1M | 180M | 171.7M | 172.5M | 173.2M | 186.8M | 163.4M | 162.6M | 159M | 176.8M | 201.6M | 190.9M | 131M | 107.8M | 102.7M | 89.4M | 80.9M | 63.5M | 58.3M | 42.3M |
| SG&A % of Revenue | - | 4.92% | 4.6% | 4.21% | 4.06% | 4.54% | 4.66% | 4.37% | 4.27% | 4.16% | 4.6% | 4.4% | 4.38% | 4.68% | 5.08% | 5.23% | 4.63% | 4.65% | 4.5% | 5.25% | 6.27% | 5.86% | 4.51% | 4.33% | 4.91% | 4.64% | 4.35% | 3.64% | 3.64% | 3.5% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.2M | 3.3M | 3.3M | 3.9M | 4.1M | 4.4M | 4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | 0.07% | 0.08% | 0.08% | 0.1% | 0.1% | 0.12% | 0.12% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -100K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19.6M | 28.6M | 57.8M | 45.2M | 35.8M | 20.6M |
| Operating Income | 162.4M | 186.4M | 160.4M | 161.8M | 128.5M | 99M | 62.8M | 95.3M | 79.8M | 156.9M | 266M | 198.1M | 184.4M | 113.9M | 147.3M | 103.4M | 75.7M | 145M | 181.5M | 191.1M | 27.9M | 120.6M | 133.7M | 220.4M | 214.4M | 164.9M | 82.6M | 84.5M | 134.7M | 94.8M |
| Operating Margin % | 3.81% | 4.31% | 3.75% | 3.75% | 2.91% | 2.33% | 1.49% | 2.13% | 1.78% | 3.84% | 6.64% | 4.84% | 4.7% | 3.09% | 4.32% | 2.9% | 2.14% | 4.15% | 5.14% | 5.68% | 0.87% | 3.7% | 4.6% | 8.86% | 10.26% | 8.55% | 4.44% | 4.85% | 8.42% | 7.85% |
| Operating Income Growth % | - | 16.21% | -0.87% | 25.91% | 29.8% | 57.64% | -34.1% | 19.42% | -49.14% | -41.02% | 34.28% | 7.43% | 61.9% | -22.67% | 42.46% | 36.59% | -47.79% | -20.11% | -5.02% | 584.95% | -76.87% | -9.8% | -39.34% | 2.8% | 30.02% | 99.64% | -2.25% | -37.27% | 42.09% | - |
| EBITDA | 216.4M | 258.9M | 238.9M | 246.6M | 221.1M | 195.8M | 157.8M | 193.4M | 179M | 236.8M | 344.5M | 270.5M | 257.7M | 183.8M | 217.3M | 176.9M | 154.4M | 228.7M | 266.8M | 272M | 111.7M | 209.6M | 204.6M | 283.4M | 276.1M | 226.1M | 140.4M | 129.7M | 170.5M | 115.4M |
| EBITDA Margin % | 5.07% | 5.99% | 5.59% | 5.71% | 5.01% | 4.61% | 3.75% | 4.32% | 3.99% | 5.8% | 8.6% | 6.6% | 6.57% | 4.98% | 6.37% | 4.96% | 4.37% | 6.54% | 7.56% | 8.08% | 3.48% | 6.43% | 7.04% | 11.4% | 13.21% | 11.73% | 7.55% | 7.44% | 10.66% | 9.55% |
| EBITDA Growth % | -12.07% | 8.37% | -3.12% | 11.53% | 12.92% | 24.08% | -18.41% | 8.04% | -24.41% | -31.26% | 27.36% | 4.97% | 40.21% | -15.42% | 22.84% | 14.57% | -32.49% | -14.28% | -1.91% | 143.51% | -46.71% | 2.44% | -27.81% | 2.64% | 22.11% | 61.04% | 8.25% | -23.93% | 47.75% | - |
| D&A (Non-Cash Add-back) | 54M | 72.5M | 78.5M | 84.8M | 92.6M | 96.8M | 95M | 98.1M | 99.2M | 79.9M | 78.5M | 72.4M | 73.3M | 69.9M | 70M | 73.5M | 78.7M | 83.7M | 85.3M | 80.9M | 83.8M | 89M | 70.9M | 63M | 61.7M | 61.2M | 57.8M | 45.2M | 35.8M | 20.6M |
| EBIT | 99.8M | 142.1M | 195.7M | 49.4M | 137.5M | 90.9M | 63.7M | 113.7M | 22.3M | 150.5M | 241.5M | 84.4M | 162.1M | -13.8M | 160.2M | 107.3M | 70.9M | 143.7M | 177M | 209M | -118.6M | 115.4M | 136M | 220.4M | 214.4M | 164.9M | 82.6M | 84.5M | 134.7M | 110.8M |
| Net Interest Income | -6.1M | -9.4M | -17.2M | -22.7M | -23.7M | -19.7M | -20.7M | -21.9M | -21.2M | -5.6M | -3.4M | -3.7M | -2.6M | -2.2M | -2.3M | -5.7M | -9.9M | -11.2M | -13.1M | -25.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.6M | 1.8M | 1.2M | 1.4M | 700K | 600K | 0 | 1.1M | 900K | 800K | 700K | 600K | 600K | 700K | 700K | 1.1M | 900K | 0 | 1.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 9.6M | 11.2M | 18.4M | 24.1M | 24.4M | 20.3M | 20.7M | 23M | 22.1M | 6.4M | 4.1M | 4.3M | 3.2M | 2.9M | 3M | 6.8M | 10.8M | 11.2M | 14.5M | 25.9M | 25.6M | 16.1M | 0 | 0 | 15.7M | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -51.8M | -55.5M | 10.3M | -145.3M | -10.7M | -17.1M | -11.5M | -4.6M | -79.6M | -12.8M | -28.6M | -118M | -25.5M | -130.6M | 9.9M | -2.9M | -15.6M | -13.2M | -19M | -9.9M | -173.5M | -22.3M | -6.7M | 21.9M | 5.5M | -42.2M | -46.6M | -12.9M | -45.1M | -18.1M |
| Pretax Income | 110.6M | 130.9M | 170.7M | 16.5M | 117.8M | 81.9M | 51.3M | 90.7M | 200K | 144.1M | 237.4M | 80.1M | 158.9M | -16.7M | 157.2M | 100.5M | 60.1M | 131.8M | 162.5M | 181.2M | -145.6M | 98.3M | 127M | 242.3M | 219.9M | 122.7M | 36M | 71.6M | 89.6M | 67.9M |
| Pretax Margin % | 2.59% | 3.03% | 3.99% | 0.38% | 2.67% | 1.93% | 1.22% | 2.02% | 0% | 3.53% | 5.93% | 1.96% | 4.05% | -0.45% | 4.61% | 2.82% | 1.7% | 3.77% | 4.6% | 5.38% | -4.53% | 3.02% | 4.37% | 9.74% | 10.52% | 6.36% | 1.94% | 4.11% | 5.6% | 5.62% |
| Income Tax | 38.3M | 37.4M | 29.1M | 18.1M | 20.1M | 2M | 5M | 21.4M | 16.1M | 24.9M | 11.8M | 13.7M | 14.3M | 17.2M | 12.2M | 5.7M | -700K | -12.8M | 4.8M | 1.4M | -500K | -8.3M | -12.2M | 15.9M | 18.6M | 26.5M | 2.9M | 14.7M | 12.2M | 13.7M |
| Effective Tax Rate % | 34.63% | 28.57% | 17.05% | 109.7% | 17.06% | 2.44% | 9.75% | 23.59% | 8050% | 17.28% | 4.97% | 17.1% | 9% | -102.99% | 7.76% | 5.67% | -1.16% | -9.71% | 2.95% | 0.77% | 0.34% | -8.44% | -9.61% | 6.56% | 8.46% | 21.6% | 8.06% | 20.53% | 13.62% | 20.18% |
| Net Income | 69.6M | 90.7M | 142.2M | -11.4M | 98.6M | 80M | 49.2M | 66.5M | -21.9M | 120.8M | 225.1M | 62.4M | 142.4M | -37.3M | 143.2M | 92.5M | 62.2M | 143.9M | 157.7M | 179.8M | -145.1M | 106.6M | 139.2M | 226.4M | 195.2M | 96.2M | 33.1M | 56.9M | 59.3M | 43.8M |
| Net Margin % | 1.63% | 2.1% | 3.33% | -0.26% | 2.24% | 1.88% | 1.17% | 1.48% | -0.49% | 2.96% | 5.62% | 1.52% | 3.63% | -1.01% | 4.2% | 2.59% | 1.76% | 4.12% | 4.47% | 5.34% | -4.51% | 3.27% | 4.79% | 9.1% | 9.34% | 4.99% | 1.78% | 3.26% | 3.71% | 3.62% |
| Net Income Growth % | -52.72% | -36.22% | 1347.37% | -111.56% | 23.25% | 62.6% | -26.02% | 403.65% | -118.13% | -46.34% | 260.74% | -56.18% | 481.77% | -126.05% | 54.81% | 48.71% | -56.78% | -8.75% | -12.29% | 223.91% | -236.12% | -23.42% | -38.52% | 15.98% | 102.91% | 190.63% | -41.83% | -4.05% | 35.39% | - |
| Net Income (Continuing) | 71.6M | 93.5M | 141.6M | -1.6M | 97.7M | 79.9M | 46.3M | 69.3M | -15.9M | 119.2M | 225.6M | 66.4M | 144.6M | -33.9M | 145M | 94.8M | 60.8M | 144.6M | 157.7M | 179.8M | -145.1M | 106.6M | 139.2M | 226.4M | 201.3M | 96.2M | 33.1M | 56.9M | 77.4M | 63.6M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 14.7M | 14M | 16.3M | 16.4M | 70.3M | 71.2M | 71.9M | 79.8M | 77.6M | 23.8M | 24.6M | 42.9M | 40M | 38.1M | 35.7M | 25.7M | 24.3M | 22.1M | 17M | 14.8M | 12.2M | 10.2M | 8M | 3.7M | 8.3M | 12.3M | 11.1M | 12M | 11.6M | 4.9M |
| EPS (Diluted) | 1.45 | 1.88 | 2.96 | -0.24 | 2.06 | 1.68 | 1.03 | 1.37 | -0.45 | 2.39 | 4.33 | 1.17 | 2.53 | -0.66 | 2.46 | 1.56 | 1.02 | 2.26 | 2.48 | 3.06 | -2.51 | 1.90 | 2.41 | 3.95 | 3.45 | 1.77 | 0.62 | 1.06 | 1.10 | 0.70 |
| EPS Growth % | -52.29% | -36.49% | 1333.33% | -111.65% | 22.62% | 63.11% | -24.82% | 404.44% | -118.83% | -44.8% | 270.09% | -53.75% | 483.33% | -126.83% | 57.69% | 52.94% | -54.87% | -8.87% | -18.95% | 221.91% | -232.11% | -21.16% | -38.99% | 14.49% | 94.92% | 185.48% | -41.51% | -3.64% | 57.14% | - |
| EPS (Basic) | - | 1.90 | 2.97 | -0.24 | 2.06 | 1.68 | 1.03 | 1.38 | -0.45 | 2.40 | 4.37 | 1.18 | 2.54 | -0.66 | 2.47 | 1.57 | 1.03 | 2.26 | 2.49 | 3.07 | -2.51 | 1.90 | 2.42 | 4.00 | 3.52 | 1.79 | 0.62 | 1.06 | 1.10 | 0.70 |
| Diluted Shares Outstanding | 47.87M | 48.15M | 48.04M | 47.98M | 47.94M | 47.7M | 47.66M | 48.39M | 48.63M | 50.59M | 51.96M | 53.2M | 56.35M | 56.43M | 58.12M | 59.16M | 60.71M | 63.67M | 63.61M | 58.77M | 57.82M | 58.08M | 57.8M | 57.35M | 56.54M | 54.41M | 53.76M | 53.81M | 53.77M | 53.76M |
| Basic Shares Outstanding | 47.45M | 47.85M | 47.88M | 47.98M | 47.79M | 47.51M | 47.57M | 48.29M | 48.63M | 50.25M | 51.51M | 52.75M | 55.97M | 56.39M | 57.94M | 58.89M | 60.54M | 63.57M | 63.34M | 58.49M | 57.82M | 57.93M | 57.49M | 56.54M | 55.45M | 53.86M | 53.76M | 53.76M | 53.63M | 53.76M |
| Dividend Payout Ratio | - | 63.29% | 33.61% | - | 29.11% | 29.63% | 29.07% | 10.08% | - | 24.92% | 12.53% | 41.99% | 19.59% | - | 16.2% | 19.14% | 4.66% | - | - | - | - | 43.43% | 33.05% | - | 5.69% | - | - | - | 42.16% | - |
Commodity input cost volatility
According to recent financial disclosures, FDP's revenue growth has trended toward contraction, with the most recent quarter showing a 4.9% year-over-year decline, highlighting the difficulty of achieving sustained volume expansion in a mature, price-sensitive agricultural market where consumer demand remains largely inelastic and highly competitive.
The persistent inability to drive meaningful top-line growth suggests that the company is struggling to gain market share or effectively leverage its value-added product segment. Investors should monitor whether this deceleration reflects a broader structural shift in consumer preferences or merely the impact of recent supply chain disruptions on product availability.
As reported in quarterly filings, FDP's gross margin has fluctuated within a narrow 5.9% to 10.4% range, indicating that the company remains a price-taker in the global produce market, where input cost volatility frequently outpaces the firm's ability to pass price increases to retail partners.
The thin gross margin profile underscores the vulnerability of the business model to fluctuations in bunker fuel, fertilizer, and labor costs. Without a more significant shift toward higher-margin value-added products, the company appears likely to remain trapped in a low-margin commodity cycle that limits overall profitability.
Based on the provided income statement data, FDP's operating income has failed to scale consistently with gross profit, as evidenced by operating margins that frequently dip below 2%, suggesting that fixed costs associated with the company's extensive maritime and logistics infrastructure are difficult to rationalize.
The lack of operating leverage implies that the company's heavy asset base acts as a drag on profitability during periods of lower revenue. Management's inability to consistently expand operating margins suggests that the current cost structure may be too rigid to adapt to the inherent volatility of the agricultural sector.
Analysis of historical income statements reveals significant quarterly earnings volatility, with net income swinging from a $106.5 million loss in 2023Q4 to a $56.8 million profit in 2025Q2, largely driven by non-operating items and asset disposals rather than consistent core operational performance improvements.
The reliance on non-core gains to bolster the bottom line warrants caution, as these items often obscure the underlying health of the produce business. Investors should focus on normalized operating cash flows to better gauge the company's true ability to generate sustainable earnings in the face of persistent margin pressure.
While the company maintains a conservative debt profile, the persistent low return on invested capital suggests that FDP's heavy reliance on owned maritime and logistics assets may be value-destructive, as these capital-intensive operations struggle to generate returns that meaningfully exceed the company's cost of capital.
Short-sellers may focus on the potential for further asset impairment or the inability of the company to pivot toward an asset-light model. The current valuation appears to ignore the risk that these proprietary logistics assets may become liabilities if global shipping dynamics shift away from the company's specific trade routes.
Quick answers to the most common questions about buying FDP stock.
For fiscal year 2025, Fresh Del Monte Produce Inc. (FDP) reported total revenue of $4.32B. This represents a 257.7% increase compared to $1.21B in 1997.
Fresh Del Monte Produce Inc. (FDP) is profitable, generating $90.7M in net income for the fiscal year ending 2025 with a net profit margin of 2.1%.
Fresh Del Monte Produce Inc. (FDP) reported an operating income of $186.4M, resulting in an operating profit margin of 4.3%. This margin reflects the operational efficiency of the business before interest and taxes.
Fresh Del Monte Produce Inc. (FDP) generated $399.1M in gross profit for the year, representing a gross profit margin of 9.2%. This demonstrates the company's core pricing power and production efficiency.