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Hormel Foods Corporation (HRL) 10-Year Financial Performance & Capital Metrics

HRL • • Industrial / General
Consumer DefensivePackaged FoodsTraditional Packaged FoodsMulti-Portfolio Food Conglomerates
AboutHormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chilies, shelf-stable microwaveable meals, hashes, stews, tortillas, salsas, tortilla chips, and others. The company also engages in the processing, marketing, and sale of branded and unbranded pork, beef, poultry, and turkey products, as well as offers nutritional food products and supplements, desserts and drink mixes, and industrial gelatin products. It sells its products primarily under the SKIPPY, SPAM, Hormel, Natural Choice, Applegate, Justin's, Jennie-O, Café H, Herdez, Black Label, Sadler's, Columbus, Gatherings, Herdez, Wholly, Columbus, Planters, NUT-rition, Planters Cheez Balls, Corn Nuts, etc. brand names through sales personnel, independent brokers, and distributors. The company was formerly known as Geo. A. Hormel & Company and changed its name to Hormel Foods Corporation in January 1995. Hormel Foods Corporation was founded in 1891 and is headquartered in Austin, Minnesota.Show more
  • Revenue $12.11B +1.6%
  • EBITDA $1.14B -14.1%
  • Net Income $478M -40.6%
  • EPS (Diluted) 0.87 -40.8%
  • Gross Margin 15.45% -8.9%
  • EBITDA Margin 9.41% -15.4%
  • Operating Margin 7.23% -19.3%
  • Net Margin 3.95% -41.5%
  • ROE 6.01% -41.3%
  • ROIC 6.49% -17.2%
  • Debt/Equity 0.36 +1.1%
  • Interest Coverage 11.22 -15.0%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Dividend Aristocrat: 34 years of consecutive increases
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Healthy dividend yield of 4.7%

✗Weaknesses

  • ✗Profits declining 12.0% over 5 years
  • ✗Dividend payout exceeds 100% of earnings

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.71%
5Y4.73%
3Y-0.95%
TTM1.55%

Profit (Net Income) CAGR

10Y-3.55%
5Y-12.04%
3Y-21.8%
TTM-40.6%

EPS CAGR

10Y-3.71%
5Y-12.12%
3Y-21.81%
TTM-40.41%

ROCE

10Y Avg14.68%
5Y Avg9.72%
3Y Avg8.61%
Latest7.28%

Peer Comparison

Multi-Portfolio Food Conglomerates
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Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
HRLHormel Foods Corporation13.6B24.7228.411.55%3.95%6.04%3.93%0.36
POSTPost Holdings, Inc.5.06B98.1017.802.97%4.11%8.92%9.64%1.97
CPBCampbell Soup Company8.02B26.9013.386.4%5.69%14.6%8.79%1.85
GISGeneral Mills, Inc.24.33B45.6011.12-1.87%15.24%30.67%9.42%1.66
KHCThe Kraft Heinz Company28.69B24.2410.73-2.98%-17.35%-10.5%11.01%0.40
CAGConagra Brands, Inc.8.31B17.377.21-3.64%7.42%9.53%15.68%0.93
JBSJBS N.V.12.29B15.090.4914.61%2.4%94.15%100%2.68
BGSB&G Foods, Inc.359.1M4.49-1.41-6.3%-13.61%-53.21%28.86%3.96

Profit & Loss

Oct 2016Oct 2017Oct 2018Oct 2019Oct 2020Oct 2021Oct 2022Oct 2023Oct 2024Oct 2025
Sales/Revenue+9.52B9.17B9.55B9.5B9.61B11.39B12.46B12.11B11.92B12.11B
Revenue Growth %0.03%-0.04%0.04%-0.01%0.01%0.19%0.09%-0.03%-0.02%0.02%
Cost of Goods Sold+7.37B7.17B7.57B7.61B7.78B9.46B10.29B10.11B9.9B10.24B
COGS % of Revenue0.77%0.78%0.79%0.8%0.81%0.83%0.83%0.83%0.83%0.85%
Gross Profit+2.16B2B1.98B1.88B1.83B1.93B2.16B2B2.02B1.87B
Gross Margin %0.23%0.22%0.21%0.2%0.19%0.17%0.17%0.17%0.17%0.15%
Gross Profit Growth %0.19%-0.07%-0.01%-0.05%-0.03%0.06%0.12%-0.08%0.01%-0.07%
Operating Expenses+834.28M719.89M799.51M688.38M725.74M805.31M852.08M927.79M954.21M995.47M
OpEx % of Revenue0.09%0.08%0.08%0.07%0.08%0.07%0.07%0.08%0.08%0.08%
Selling, General & Admin871.97M759.3M841.21M727.58M761.32M853.07M879.26M942.17M1.01B960.27M
SG&A % of Revenue0.09%0.08%0.09%0.08%0.08%0.07%0.07%0.08%0.08%0.08%
Research & Development00000000035.2M
R&D % of Revenue---------0%
Other Operating Expenses-37.69M-39.41M-41.69M-39.2M-35.57M-47.76M-27.19M-14.37M-51.09M0
Operating Income+1.32B1.28B1.18B1.2B1.1B1.12B1.31B1.07B1.07B875.24M
Operating Margin %0.14%0.14%0.12%0.13%0.11%0.1%0.11%0.09%0.09%0.07%
Operating Income Growth %0.24%-0.04%-0.08%0.01%-0.08%0.02%0.17%-0.18%-0%-0.18%
EBITDA+1.46B1.41B1.34B1.36B1.31B1.33B1.55B1.33B1.33B1.14B
EBITDA Margin %0.15%0.15%0.14%0.14%0.14%0.12%0.12%0.11%0.11%0.09%
EBITDA Growth %0.21%-0.03%-0.05%0.01%-0.04%0.02%0.16%-0.14%0%-0.14%
D&A (Non-Cash Add-back)131.97M130.98M161.86M165.21M205.78M209.31M235.88M253.31M257.76M263.9M
EBIT1.33B1.29B1.21B1.23B1.14B1.17B1.34B1.09B1.12B742.48M
Net Interest Income+-6.68M1.9M1.32M13.45M14.53M3.57M-34.5M-58.57M-32.5M-53.81M
Interest Income6.19M14.59M27.82M31.52M35.6M46.88M28.01M14.83M48.4M24.23M
Interest Expense12.87M12.68M26.49M18.07M21.07M43.31M62.52M73.4M80.89M78.04M
Other Income/Expense-6.68M1.9M1.32M13.45M14.53M3.57M-34.5M-58.57M-32.5M-211.79M
Pretax Income+1.32B1.28B1.18B1.21B1.11B1.13B1.28B1.01B1.04B663.45M
Pretax Margin %0.14%0.14%0.12%0.13%0.12%0.1%0.1%0.08%0.09%0.05%
Income Tax+426.7M431.54M168.7M230.57M206.39M217.03M277.88M220.55M230.8M185.68M
Effective Tax Rate %0.68%0.66%0.86%0.81%0.81%0.81%0.78%0.78%0.78%0.72%
Net Income+890.05M846.74M1.01B978.81M908.08M908.84M999.99M793.57M805.04M478.2M
Net Margin %0.09%0.09%0.11%0.1%0.09%0.08%0.08%0.07%0.07%0.04%
Net Income Growth %0.3%-0.05%0.2%-0.03%-0.07%0%0.1%-0.21%0.01%-0.41%
Net Income (Continuing)890.52M847.1M1.01B979.15M908.35M909.14M1B792.92M804.63M477.76M
Discontinued Operations0000000000
Minority Interest3.4M3.79M4.01M4.08M4.78M5.48M4.94M4.1M10.59M14.64M
EPS (Diluted)+1.641.571.861.801.661.661.821.451.470.87
EPS Growth %0.29%-0.04%0.18%-0.03%-0.08%0%0.1%-0.2%0.01%-0.41%
EPS (Basic)1.681.601.911.831.691.681.841.451.470.87
Diluted Shares Outstanding542.47M539.12M543.87M545.23M546.59M547.58M549.57M548.98M548.83M550.5M
Basic Shares Outstanding529.29M528.36M530.74M534.58M538.01M541.11M544.92M546.42M548.13M550.16M
Dividend Payout Ratio0.33%0.41%0.38%0.45%0.54%0.58%0.56%0.75%0.76%1.32%

Balance Sheet

Oct 2016Oct 2017Oct 2018Oct 2019Oct 2020Oct 2021Oct 2022Oct 2023Oct 2024Oct 2025
Total Current Assets+2.03B2.03B2.05B2.36B3.58B2.95B3.64B3.3B3.25B3.41B
Cash & Short-Term Investments415.14M444.12M459.14M687.64M1.73B634.69M998.26M753.2M766.62M703.59M
Cash Only415.14M444.12M459.14M672.9M1.71B613.53M982.11M736.53M741.88M670.68M
Short-Term Investments00014.74M17.34M21.16M16.15M16.66M24.74M32.91M
Accounts Receivable609.59M640.7M604.43M594.32M743.87M904.01M874.77M824.63M868.29M881.6M
Days Sales Outstanding23.3625.5123.1122.8428.2628.9825.6324.8526.5926.58
Inventory985.68M921.02M963.53M1.04B1.07B1.37B1.72B1.68B1.58B1.75B
Days Inventory Outstanding48.8546.8846.4849.9850.3152.8460.8560.6758.1262.31
Other Current Assets5.72M4.54M6.66M14.46M12.44M0-1K39.01M35.27M73.19M
Total Non-Current Assets+4.34B4.95B6.09B5.75B6.33B9.75B9.67B10.15B10.19B9.99B
Property, Plant & Equipment1.11B1.2B1.51B1.63B1.9B2.11B2.14B2.17B2.19B2.24B
Fixed Asset Turnover8.61x7.62x6.31x5.83x5.06x5.40x5.82x5.59x5.43x5.41x
Goodwill1.83B2.12B2.71B2.48B2.61B4.93B4.93B4.93B4.92B4.92B
Intangible Assets903.26M1.03B1.21B1.03B1.08B1.82B1.8B1.76B1.73B1.65B
Long-Term Investments239.59M242.37M273.15M289.16M308.37M299.02M271.06M725.12M719.48M533.98M
Other Non-Current Assets251.14M356.94M385.1M313.82M433.61M589M528.74M574.95M617.85M643.33M
Total Assets+6.37B6.98B8.14B8.11B9.91B12.7B13.31B13.45B13.43B13.39B
Asset Turnover1.49x1.31x1.17x1.17x0.97x0.90x0.94x0.90x0.89x0.90x
Asset Growth %0.04%0.1%0.17%-0%0.22%0.28%0.05%0.01%-0%-0%
Total Current Liabilities+1.05B1.06B1.14B1.11B1.5B1.42B1.47B2.31B1.4B1.38B
Accounts Payable481.83M552.71M618.83M590.03M644.61M793.31M816.6M771.4M735.6M731.58M
Days Payables Outstanding23.8828.1329.8528.2930.2330.6128.9527.8527.1226.09
Short-Term Debt0000258.69M8.76M8.8M950.53M7.81M6.65M
Deferred Revenue (Current)0000000000
Other Current Liabilities288.05M236.15M249.33M237.79M277.92M269.33M279.07M263.33M283.49M350.42M
Current Ratio1.93x1.92x1.80x2.14x2.38x2.08x2.47x1.43x2.32x2.47x
Quick Ratio0.99x1.04x0.95x1.19x1.67x1.12x1.30x0.70x1.19x1.20x
Cash Conversion Cycle48.3344.2639.7444.5348.3451.257.5257.6757.5962.8
Total Non-Current Liabilities+865.47M978M1.4B1.08B1.97B4.3B4.29B3.4B4.03B4.1B
Long-Term Debt250M250M624.84M250M1.04B3.32B3.29B2.36B2.85B2.85B
Capital Lease Obligations0000000000
Deferred Tax Liabilities098.41M197.09M176.57M218.78M278.18M475.21M498.11M589.37M661.35M
Other Non-Current Liabilities615.47M629.59M576.63M651.85M710.28M708.98M527.67M541.19M591.11M584.38M
Total Liabilities1.92B2.04B2.54B2.18B3.48B5.72B5.77B5.71B5.43B5.48B
Total Debt+250M250M624.84M250M1.3B3.32B3.3B3.31B2.86B2.86B
Net Debt-165.14M-194.12M165.7M-422.9M-410.68M2.71B2.32B2.57B2.12B2.19B
Debt / Equity0.06x0.05x0.11x0.04x0.20x0.48x0.44x0.43x0.36x0.36x
Debt / EBITDA0.17x0.18x0.47x0.18x1.00x2.50x2.13x2.50x2.16x2.51x
Net Debt / EBITDA-0.11x-0.14x0.12x-0.31x-0.31x2.03x1.50x1.94x1.60x1.92x
Interest Coverage102.86x100.67x44.54x66.20x52.22x25.92x21.00x14.61x13.20x11.22x
Total Equity+4.45B4.94B5.6B5.93B6.43B6.98B7.54B7.74B8B7.92B
Equity Growth %0.11%0.11%0.13%0.06%0.09%0.09%0.08%0.03%0.03%-0.01%
Book Value per Share8.219.1610.3110.8711.7612.7413.7214.1014.5814.38
Total Shareholders' Equity4.45B4.94B5.6B5.92B6.43B6.97B7.54B7.73B7.99B7.9B
Common Stock7.74M7.74M7.83M7.83M7.91M7.95M8M8.01M8.04M8.06M
Retained Earnings4.74B5.16B5.73B6.13B6.52B6.88B7.31B7.49B7.68B7.52B
Treasury Stock0000000000
Accumulated OCI-296.3M-248.07M-243.5M-399.5M-395.25M-277.27M-255.56M-272.25M-263.33M-243.65M
Minority Interest3.4M3.79M4.01M4.08M4.78M5.48M4.94M4.1M10.59M14.64M

Cash Flow

Oct 2016Oct 2017Oct 2018Oct 2019Oct 2020Oct 2021Oct 2022Oct 2023Oct 2024Oct 2025
Cash from Operations+992.85M1.03B1.24B923M1.13B1B1.13B1.05B1.27B845.25M
Operating CF Margin %0.1%0.11%0.13%0.1%0.12%0.09%0.09%0.09%0.11%0.07%
Operating CF Growth %0%0.04%0.2%-0.26%0.22%-0.11%0.13%-0.08%0.21%-0.33%
Net Income890.52M847.1M1.01B979.15M908.35M909.14M1B792.92M804.63M478.2M
Depreciation & Amortization131.97M130.98M161.86M165.21M205.78M228.41M262.75M253.31M257.76M263.9M
Stock-Based Compensation17.83M15.59M20.59M19.71M22.46M24.74M24.94M24.08M23.23M0
Deferred Taxes44.33M62.17M-7.44M28.64M32.04M28.68M177M31.79M87.67M52.87M
Other Non-Cash Items-61.16M-53.89M4.13M-48.35M-11.6M-23.25M41.85M70.5M25.29M293.61M
Working Capital Changes-30.63M31.94M50.01M-221.36M-29.01M-165.79M-371.79M-124.76M68.16M-243.33M
Change in Receivables21.39M-28.09M36.13M-11.15M-119.52M-191.63M28.36M49M1.9M32.73M
Change in Inventory-12.28M41.31M-8.29M-123.84M-1.84M-145.18M-351.66M35.71M95.28M-172.27M
Change in Payables-74.68M-2.55M48.38M-44.11M111.28M115.1M-14.51M-140.52M-27.2M-69.33M
Cash from Investing+-408.96M-587.18M-1.24B220.15M-656.32M-3.63B-258.04M-689.54M-236.91M-293.62M
Capital Expenditures-249.3M-217.28M-379.86M-256.44M-367.5M-230.2M-277.69M-270.21M-256.44M-310.9M
CapEx % of Revenue0.03%0.02%0.04%0.03%0.04%0.02%0.02%0.02%0.02%0.03%
Acquisitions----------
Investments----------
Other Investing6.23M9.83M7.55M0-1.86M607K17.16M8.38M1.6M10.68M
Cash from Financing+-509.65M-418.77M11.64M-926.24M566.17M1.52B-486.68M-600.06M-1.03B-618.97M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid-296.49M-346.01M-388.11M-437.05M-487.38M-523.11M-557.84M-592.93M-614.96M-633.19M
Share Repurchases----------
Other Financing47.66M00077K-2K005.4M1K
Net Change in Cash----------
Free Cash Flow+743.55M812.6M861.87M666.56M760.52M771.73M857.28M777.64M1.01B534.35M
FCF Margin %0.08%0.09%0.09%0.07%0.08%0.07%0.07%0.06%0.08%0.04%
FCF Growth %-0.14%0.09%0.06%-0.23%0.14%0.01%0.11%-0.09%0.3%-0.47%
FCF per Share1.371.511.581.221.391.411.561.421.840.97
FCF Conversion (FCF/Net Income)1.12x1.22x1.23x0.94x1.24x1.10x1.13x1.32x1.57x1.77x
Interest Paid0000000000
Taxes Paid0000000000

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)21.06%18.03%19.2%16.98%14.7%13.56%13.78%10.39%10.23%6.01%
Return on Invested Capital (ROIC)23.71%21.2%16.83%15.92%14.32%10.72%10.07%7.97%7.84%6.49%
Gross Margin22.66%21.78%20.74%19.84%19%16.93%17.37%16.51%16.96%15.45%
Net Margin9.35%9.24%10.6%10.31%9.45%7.98%8.03%6.55%6.75%3.95%
Debt / Equity0.06x0.05x0.11x0.04x0.20x0.48x0.44x0.43x0.36x0.36x
Interest Coverage102.86x100.67x44.54x66.20x52.22x25.92x21.00x14.61x13.20x11.22x
FCF Conversion1.12x1.22x1.23x0.94x1.24x1.10x1.13x1.32x1.57x1.77x
Revenue Growth2.8%-3.74%4.13%-0.51%1.17%18.5%9.42%-2.8%-1.56%1.55%

Revenue by Segment

2016201720182019202020212022202320242025
Retail--------7.37B7.46B
Retail Growth---------1.10%
Foodservice--------3.85B3.94B
Foodservice Growth---------2.51%
International--------701.53M709.15M
International Growth---------1.09%
Perishable Meat---5.37B5.33B6.27B6.55B8.51B--
Perishable Meat Growth-----0.78%17.69%4.52%29.86%--
Shelf Stable---1.83B2.09B2.66B3.4B3.6B--
Shelf Stable Growth----14.40%27.17%27.84%5.77%--
Poultry---1.85B1.89B2.1B2.12B---
Poultry Growth----2.00%11.34%1.02%---
Other Products---448.48M300.81M353.48M380.4M---
Other Products Growth-----32.93%17.51%7.62%---
Refrigerated Foods4.66B4.41B4.77B-------
Refrigerated Foods Growth--5.30%8.17%-------
Grocery Products1.68B1.76B2.52B-------
Grocery Products Growth-4.53%43.21%-------
Jennie O Turkey Store1.86B1.78B1.63B-------
Jennie O Turkey Store Growth--4.57%-8.39%-------
Others--624.44M-------
Others Growth----------
Specialty Foods939.16M794.54M--------
Specialty Foods Growth--15.40%--------

Revenue by Geography

2016201720182019202020212022202320242025
UNITED STATES9.01B8.63B8.96B8.93B9.01B10.65B11.78B11.52B11.28B11.44B
UNITED STATES Growth--4.23%3.78%-0.25%0.80%18.29%10.55%-2.22%-2.01%1.36%
Non-US510.43M536.19M588.39M562.41M602.45M733.1M681.92M594.91M636.82M669.11M
Non-US Growth-5.05%9.74%-4.42%7.12%21.69%-6.98%-12.76%7.04%5.07%

Frequently Asked Questions

Valuation & Price

Hormel Foods Corporation (HRL) has a price-to-earnings (P/E) ratio of 28.4x. This suggests investors expect higher future growth.

Growth & Financials

Hormel Foods Corporation (HRL) reported $12.11B in revenue for fiscal year 2025. This represents a 47% increase from $8.23B in 2012.

Hormel Foods Corporation (HRL) grew revenue by 1.6% over the past year. Growth has been modest.

Yes, Hormel Foods Corporation (HRL) is profitable, generating $478.2M in net income for fiscal year 2025 (4.0% net margin).

Dividend & Returns

Yes, Hormel Foods Corporation (HRL) pays a dividend with a yield of 4.65%. This makes it attractive for income-focused investors.

Hormel Foods Corporation (HRL) has a return on equity (ROE) of 6.0%. This is below average, suggesting room for improvement.

Hormel Foods Corporation (HRL) generated $534.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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