Lamb Weston Holdings, Inc. (LW) 10-Year Financial Performance & Capital Metrics

LW • • Industrial / General

Consumer DefensivePackaged FoodsTraditional Packaged FoodsFrozen & Refrigerated Foods

AboutLamb Weston Holdings, Inc. produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels. The company also offers its products under its owned or licensed brands, such as Grown in Idaho and Alexia, and other licensed brands, as well as under retailers' brands. In addition, it engages in the vegetable and dairy businesses. The company serves retail and foodservice customers; and grocery, mass merchants, club, and specialty retailers; and businesses, educational institutions, independent restaurants, regional chain restaurants, and convenience stores. Lamb Weston Holdings, Inc. was incorporated in 1950 and is headquartered in Eagle, Idaho.Show more

Revenue $6.45B -0.3%
EBITDA $1.07B -21.8%
Net Income $357M -50.8%
EPS (Diluted) 2.50 -49.8%
Gross Margin 21.68% -20.6%
EBITDA Margin 16.63% -21.6%
Operating Margin 10.31% -37.4%
Net Margin 5.54% -50.6%
ROE 20.26% -55.3%
ROIC 8.76% -44.3%
Debt/Equity 2.39 +11.0%
Interest Coverage 3.70 -52.9%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Excellent 3Y average ROE of 59.8%
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 11.2%
✓Healthy dividend yield of 3.3%

✗Weaknesses

✗High debt to equity ratio of 2.4x
✗Weak momentum: RS Rating 12 (bottom 12%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.23%

5Y11.21%

3Y16.32%

TTM0%

Profit (Net Income) CAGR

10Y2.9%

5Y-0.48%

3Y21.15%

TTM-52.43%

EPS CAGR

10Y3.23%

5Y0.08%

3Y21.9%

TTM-50.94%

ROCE

10Y Avg20.16%

5Y Avg15.45%

3Y Avg17.15%

Latest11.41%

Peer Comparison

Frozen & Refrigerated Foods

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MAMAMama's Creations, Inc.	558.17M	13.73	145.91	19.41%	3.08%	9.38%	0.01%	0.41
SENEASeneca Foods Corporation	629.84M	119.22	20.21	8.25%	3.73%	8.9%	47.35%	0.59
LWLamb Weston Holdings, Inc.	6.1B	43.93	17.57	-0.25%	4.56%	16.43%	3.77%	2.39
PPCPilgrim's Pride Corporation	9.89B	41.63	9.11	2.97%	6.71%	34.65%	15.31%	0.81
NOMDNomad Foods Limited	1.75B	11.91	8.51	1.82%	6.51%	7.78%	20.33%	0.82
BRIDBridgford Foods Corporation	74.52M	8.21	-22.19	-11.12%	-3.19%	-5.97%		0.05
WYHGWing Yip Food Holdings Group Limited American Depositary Shares	29.95M	0.60		23.79%	4.51%	56.18%	7.95%	0.16

Profit & Loss

	May 2016	May 2017	May 2018	May 2019	May 2020	May 2021	May 2022	May 2023	May 2024	May 2025
Sales/Revenue+	2.99B	3.17B	3.42B	3.76B	3.79B	3.67B	4.1B	5.35B	6.47B	6.45B
Revenue Growth %	0.02%	0.06%	0.08%	0.1%	0.01%	-0.03%	0.12%	0.31%	0.21%	-0%
Cost of Goods Sold+	2.33B	2.39B	2.54B	2.75B	2.9B	2.84B	3.27B	3.92B	4.7B	5.05B
COGS % of Revenue	0.78%	0.75%	0.74%	0.73%	0.76%	0.77%	0.8%	0.73%	0.73%	0.78%
Gross Profit+	661.8M	778.8M	879.5M	1B	895.2M	832M	832M	1.43B	1.77B	1.4B
Gross Margin %	0.22%	0.25%	0.26%	0.27%	0.24%	0.23%	0.2%	0.27%	0.27%	0.22%
Gross Profit Growth %	0.13%	0.18%	0.13%	0.14%	-0.11%	-0.07%	0%	0.72%	0.23%	-0.21%
Operating Expenses+	288.5M	260.5M	299.4M	335.1M	338.3M	357.2M	387.6M	550M	701.4M	733.5M
OpEx % of Revenue	0.1%	0.08%	0.09%	0.09%	0.09%	0.1%	0.09%	0.1%	0.11%	0.11%
Selling, General & Admin	288.5M	260.5M	299.4M	335.1M	338.3M	357.2M	387.6M	550M	701.4M	633.5M
SG&A % of Revenue	0.1%	0.08%	0.09%	0.09%	0.09%	0.1%	0.09%	0.1%	0.11%	0.1%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	0	0	0	0	0	100M
Operating Income+	373.3M	518.3M	580.1M	668.4M	556.9M	474.8M	444.4M	882.1M	1.07B	665.1M
Operating Margin %	0.12%	0.16%	0.17%	0.18%	0.15%	0.13%	0.11%	0.16%	0.16%	0.1%
Operating Income Growth %	-0.02%	0.39%	0.12%	0.15%	-0.17%	-0.15%	-0.06%	0.98%	0.21%	-0.38%
EBITDA+	469.2M	627.4M	723.4M	830.8M	739.2M	662.6M	636.5M	1.1B	1.37B	1.07B
EBITDA Margin %	0.16%	0.2%	0.21%	0.22%	0.19%	0.18%	0.16%	0.21%	0.21%	0.17%
EBITDA Growth %	-0.02%	0.34%	0.15%	0.15%	-0.11%	-0.1%	-0.04%	0.74%	0.24%	-0.22%
D&A (Non-Cash Add-back)	95.9M	109.1M	143.3M	162.4M	182.3M	187.8M	192.1M	222.8M	306.8M	407.5M
EBIT	373.3M	518.3M	580.1M	668.4M	556.9M	474.8M	444.4M	882.1M	1.07B	665.1M
Net Interest Income+	-5.9M	-61.2M	-108.8M	-107.1M	-108M	-118.3M	-161M	-109.2M	-135.8M	-180M
Interest Income	200K	0	0	0	0	0	0	0	0	0
Interest Expense	6.1M	61.2M	108.8M	107.1M	108M	118.3M	161M	109.2M	135.8M	180M
Other Income/Expense	65.8M	-7.9M	-25.2M	-47.6M	-78.7M	-66.5M	-171.7M	351.4M	-109.8M	-164.8M
Pretax Income+	439.1M	510.4M	554.9M	620.8M	478.2M	408.3M	272.7M	1.23B	955.5M	500.3M
Pretax Margin %	0.15%	0.16%	0.16%	0.17%	0.13%	0.11%	0.07%	0.23%	0.15%	0.08%
Income Tax+	144.5M	170.2M	121.2M	133.6M	112.3M	90.5M	71.8M	224.6M	230M	143.1M
Effective Tax Rate %	0.65%	0.64%	0.75%	0.77%	0.77%	0.78%	0.74%	0.82%	0.76%	0.71%
Net Income+	285.3M	326.9M	416.8M	478.6M	365.9M	317.8M	200.9M	1.01B	725.5M	357.2M
Net Margin %	0.1%	0.1%	0.12%	0.13%	0.1%	0.09%	0.05%	0.19%	0.11%	0.06%
Net Income Growth %	0.06%	0.15%	0.28%	0.15%	-0.24%	-0.13%	-0.37%	4.02%	-0.28%	-0.51%
Net Income (Continuing)	294.6M	340.2M	433.7M	487.2M	365.9M	317.8M	200.9M	1.01B	725.5M	357.2M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	1.92	2.22	2.82	3.18	2.49	2.16	1.38	6.95	4.98	2.50
EPS Growth %	0.05%	0.16%	0.27%	0.13%	-0.22%	-0.13%	-0.36%	4.04%	-0.28%	-0.5%
EPS (Basic)	1.92	2.22	2.83	3.19	2.50	2.17	1.38	6.98	5.01	2.51
Diluted Shares Outstanding	146.4M	146.6M	147M	147.3M	147.1M	147.1M	145.9M	145.2M	145.6M	142.7M
Basic Shares Outstanding	146.3M	146.1M	146.3M	146.5M	146.2M	146.4M	145.5M	144.5M	144.9M	142.2M
Dividend Payout Ratio	-	2.6%	0.26%	0.24%	0.33%	0.43%	0.69%	0.14%	0.24%	0.58%

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+	780M	858.2M	930.4M	961.5M	2.3B	1.78B	1.66B	2.13B	2.09B	2.03B
Cash & Short-Term Investments	36.4M	57.1M	55.6M	12.2M	1.36B	783.5M	525M	304.8M	71.4M	70.7M
Cash Only	36.4M	57.1M	55.6M	12.2M	1.36B	783.5M	525M	304.8M	71.4M	70.7M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	186.5M	185.2M	225.9M	340.1M	342.1M	366.9M	447.3M	724.2M	743.6M	781.6M
Days Sales Outstanding	22.74	21.34	24.08	33.05	32.93	36.48	39.83	49.4	41.97	44.22
Inventory	498.9M	525M	549.7M	498.3M	486.7M	513.5M	574.4M	932M	1.14B	1.04B
Days Inventory Outstanding	78.09	80.2	78.86	66.07	61.32	66.02	64.18	86.81	88.41	74.8
Other Current Assets	0	0	0	0	0	0	0	166.2M	136.4M	145M
Total Non-Current Assets+	1.38B	1.63B	1.82B	2.09B	2.36B	2.43B	2.48B	4.39B	5.28B	5.36B
Property, Plant & Equipment	1.04B	1.27B	1.42B	1.6B	1.7B	1.67B	1.7B	2.95B	3.77B	3.83B
Fixed Asset Turnover	2.87x	2.49x	2.41x	2.35x	2.23x	2.20x	2.41x	1.81x	1.72x	1.68x
Goodwill	133.9M	133M	135.1M	205.9M	303.8M	334.5M	318M	1.04B	1.06B	1.09B
Intangible Assets	39.6M	37.2M	35.4M	37.6M	38.3M	36.9M	33.7M	110.2M	332.8M	322.7M
Long-Term Investments	155.2M	178.6M	219.8M	224.6M	250.2M	310.2M	257.4M	43.5M	59.2M	47.5M
Other Non-Current Assets	6.5M	7.4M	11.1M	20.7M	65.4M	80.4M	172.9M	244.1M	56.7M	68.1M
Total Assets+	2.16B	2.49B	2.75B	3.05B	4.66B	4.21B	4.14B	6.52B	7.37B	7.39B
Asset Turnover	1.39x	1.27x	1.24x	1.23x	0.81x	0.87x	0.99x	0.82x	0.88x	0.87x
Asset Growth %	0.05%	0.15%	0.11%	0.11%	0.53%	-0.1%	-0.02%	0.57%	0.13%	0%
Total Current Liabilities+	409.6M	555.4M	518.7M	552.8M	1.02B	618.2M	699.1M	1.36B	1.62B	1.48B
Accounts Payable	238M	295M	254.4M	289.2M	244.4M	359.3M	402.6M	636.6M	833.8M	616.4M
Days Payables Outstanding	37.25	45.07	36.5	38.34	30.79	46.2	44.98	59.3	64.74	44.53
Short-Term Debt	38.4M	59.9M	48.3M	46.4M	547.5M	32M	32.2M	213.8M	382.7M	448.6M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	64.8M	80.1M	91.7M	92.4M	74.5M	83.2M	81M	241.4M	97.4M	111.5M
Current Ratio	1.90x	1.55x	1.79x	1.74x	2.25x	2.88x	2.37x	1.56x	1.29x	1.38x
Quick Ratio	0.69x	0.60x	0.73x	0.84x	1.77x	2.05x	1.55x	0.88x	0.59x	0.68x
Cash Conversion Cycle	63.57	56.48	66.45	60.77	63.45	56.31	59.03	76.92	65.63	74.49
Total Non-Current Liabilities+	348.1M	2.58B	2.57B	2.5B	3.4B	3.11B	3.08B	3.75B	3.96B	4.18B
Long-Term Debt	104.6M	2.37B	2.34B	2.28B	2.99B	2.71B	2.7B	3.25B	3.44B	3.68B
Capital Lease Obligations	0	0	0	0	0	0	0	0	0	0
Deferred Tax Liabilities	144M	90.5M	92.1M	125.7M	152.5M	159.7M	172.5M	252.1M	256.2M	253.5M
Other Non-Current Liabilities	99.5M	121.9M	139.9M	94M	252.3M	245.5M	211.9M	247.8M	258.2M	242.6M
Total Liabilities	757.7M	3.13B	3.09B	3.05B	4.42B	3.73B	3.78B	5.11B	5.58B	5.65B
Total Debt+	143M	2.42B	2.38B	2.33B	3.57B	2.77B	2.75B	3.49B	3.85B	4.16B
Net Debt	106.6M	2.37B	2.33B	2.31B	2.2B	1.98B	2.23B	3.19B	3.78B	4.08B
Debt / Equity	0.10x	-	-	-	14.87x	5.76x	7.63x	2.47x	2.15x	2.39x
Debt / EBITDA	0.30x	3.86x	3.30x	2.80x	4.83x	4.18x	4.32x	3.16x	2.81x	3.87x
Net Debt / EBITDA	0.23x	3.77x	3.22x	2.79x	2.98x	2.99x	3.50x	2.88x	2.76x	3.81x
Interest Coverage	61.20x	8.47x	5.33x	6.24x	5.16x	4.01x	2.76x	8.08x	7.84x	3.70x
Total Equity+	1.4B	-647.2M	-334.8M	-4.6M	240M	480.6M	360.5M	1.41B	1.79B	1.74B
Equity Growth %	0.03%	-1.46%	0.48%	0.99%	53.17%	1%	-0.25%	2.91%	0.27%	-0.03%
Book Value per Share	9.57	-4.41	-2.28	-0.03	1.63	3.27	2.47	9.72	12.28	12.18
Total Shareholders' Equity	1.4B	-647.2M	-334.8M	-4.6M	240M	480.6M	360.5M	1.41B	1.79B	1.74B
Common Stock	0	146.1M	146.4M	146.7M	147M	147.6M	148M	150.3M	150.7M	151.4M
Retained Earnings	0	121M	426.4M	803.6M	1.06B	1.24B	1.31B	2.16B	2.7B	2.85B
Treasury Stock	0	-200K	-2.9M	-39.3M	-68.2M	-104.3M	-264.1M	-314.3M	-540.9M	-838M
Accumulated OCI	-9.2M	-9.3M	-4.3M	-25.3M	-40.5M	29.5M	-15.6M	-26.8M	-12.9M	54.5M
Minority Interest	0	0	0	0	0	0	0	0	0	0

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+	382.3M	446.9M	481.2M	680.9M	574M	552.7M	418.6M	761.7M	798.2M	868.3M
Operating CF Margin %	0.13%	0.14%	0.14%	0.18%	0.15%	0.15%	0.1%	0.14%	0.12%	0.13%
Operating CF Growth %	0.08%	0.17%	0.08%	0.42%	-0.16%	-0.04%	-0.24%	0.82%	0.05%	0.09%
Net Income	294.6M	340.2M	433.7M	487.2M	365.9M	317.8M	200.9M	1.01B	725.5M	357.2M
Depreciation & Amortization	95.9M	109.1M	143.3M	162.4M	182.3M	187.8M	192.1M	222.8M	306.8M	407.5M
Stock-Based Compensation	3.2M	5.7M	13.5M	18.8M	22.8M	20.6M	21.3M	38.5M	46.8M	39.5M
Deferred Taxes	20.7M	14.8M	-3.6M	37.5M	20M	3.8M	13.5M	400K	-1.3M	600K
Other Non-Cash Items	-40.3M	-17.4M	-43.1M	-600K	16.9M	-21.8M	76.7M	-459.3M	-8.6M	-14.6M
Working Capital Changes	8.2M	-5.5M	-62.6M	-24.4M	-33.9M	44.5M	-85.9M	-49.6M	-271M	78.1M
Change in Receivables	-15.1M	1.2M	-40.4M	-25.1M	1.1M	-21M	-76.3M	-53.6M	-15.1M	-22.2M
Change in Inventory	-10.7M	-26.1M	-23.6M	-15.8M	15.3M	-22M	-63M	-125.1M	-203.3M	112.6M
Change in Payables	7.5M	12.1M	-8.3M	32.9M	-34.9M	104.7M	16.5M	83.1M	36.5M	2M
Cash from Investing+	-144.3M	-285.3M	-306.8M	-423M	-346M	-162.5M	-310.5M	-1.34B	-984.1M	-648M
Capital Expenditures	-152.3M	-287.4M	-306.8M	-334.2M	-167.7M	-147.2M	-290.1M	-654M	-929.5M	-638.2M
CapEx % of Revenue	0.05%	0.09%	0.09%	0.09%	0.04%	0.04%	0.07%	0.12%	0.14%	0.1%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	8M	2.1M	0	-200K	-39M	-15.3M	-20.4M	-76.5M	-62.1M	-30.9M
Cash from Financing+	-232.8M	-142M	-178.9M	-299.6M	1.13B	-974M	-363.4M	340.8M	-48M	-225M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	-850.9M	-110.2M	-113.3M	-121.3M	-135.3M	-138.4M	-146.1M	-174M	-206.9M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-245.1M	-62.4M	-26.8M	-82.2M	-1.9M	1.7M	-5M	200K	-4.5M	-15.2M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	230M	159.5M	174.4M	346.7M	406.3M	405.5M	128.5M	107.7M	-131.3M	230.1M
FCF Margin %	0.08%	0.05%	0.05%	0.09%	0.11%	0.11%	0.03%	0.02%	-0.02%	0.04%
FCF Growth %	-0.04%	-0.31%	0.09%	0.99%	0.17%	-0%	-0.68%	-0.16%	-2.22%	2.75%
FCF per Share	1.57	1.09	1.19	2.35	2.76	2.76	0.88	0.74	-0.90	1.61
FCF Conversion (FCF/Net Income)	1.34x	1.37x	1.15x	1.42x	1.57x	1.74x	2.08x	0.75x	1.10x	2.43x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	20.69%	86.78%	-	-	310.88%	88.2%	47.77%	113.88%	45.36%	20.26%
Return on Invested Capital (ROIC)	18.9%	24.09%	23.42%	23.29%	17.57%	14.51%	13.2%	18.42%	15.72%	8.76%
Gross Margin	22.11%	24.58%	25.69%	26.71%	23.61%	22.66%	20.3%	26.77%	27.32%	21.68%
Net Margin	9.53%	10.32%	12.17%	12.74%	9.65%	8.66%	4.9%	18.86%	11.22%	5.54%
Debt / Equity	0.10x	-	-	-	14.87x	5.76x	7.63x	2.47x	2.15x	2.39x
Interest Coverage	61.20x	8.47x	5.33x	6.24x	5.16x	4.01x	2.76x	8.08x	7.84x	3.70x
FCF Conversion	1.34x	1.37x	1.15x	1.42x	1.57x	1.74x	2.08x	0.75x	1.10x	2.43x
Revenue Growth	2.35%	5.82%	8.07%	9.72%	0.96%	-3.2%	11.66%	30.54%	20.88%	-0.25%

Revenue by Segment

	2017	2018	2019	2020	2021	2022	2023	2024	2025
Global	1.62B	1.74B	1.96B	1.97B	1.91B	2.06B	2.93B	-	-
Global Growth	-	7.35%	12.46%	0.62%	-3.15%	7.99%	42.16%	-	-
Foodservice	1.03B	1.1B	1.16B	1.07B	1.02B	1.32B	1.49B	-	-
Foodservice Growth	-	6.71%	5.30%	-7.62%	-4.85%	29.58%	12.96%	-	-
Retail	384.9M	449.2M	498.3M	595.5M	603.4M	594.6M	797.7M	-	-
Retail Growth	-	16.71%	10.93%	19.51%	1.33%	-1.46%	34.16%	-	-
Other	-	-	-	-	138.7M	121.9M	129.4M	-	-
Other Growth	-	-	-	-	-	-12.11%	6.15%	-	-

Revenue by Geography

	2017	2018	2019	2020	2021	2022	2023	2024	2025
Segments, North America	-	-	-	-	-	-	-	4.36B	4.27B
Segments, North America Growth	-	-	-	-	-	-	-	-	-2.25%
Global	-	-	-	-	-	-	-	2.1B	2.19B
Global Growth	-	-	-	-	-	-	-	-	3.88%

Frequently Asked Questions

Valuation & Price

Lamb Weston Holdings, Inc. (LW) has a price-to-earnings (P/E) ratio of 17.6x. This is roughly in line with market averages.

Growth & Financials

Lamb Weston Holdings, Inc. (LW) reported $6.46B in revenue for fiscal year 2025. This represents a 121% increase from $2.92B in 2014.

Lamb Weston Holdings, Inc. (LW) saw revenue decline by 0.3% over the past year.

Yes, Lamb Weston Holdings, Inc. (LW) is profitable, generating $294.1M in net income for fiscal year 2025 (5.5% net margin).

Dividend & Returns

Yes, Lamb Weston Holdings, Inc. (LW) pays a dividend with a yield of 3.30%. This makes it attractive for income-focused investors.

Lamb Weston Holdings, Inc. (LW) has a return on equity (ROE) of 20.3%. This is excellent, indicating efficient use of shareholder capital.

Lamb Weston Holdings, Inc. (LW) generated $500.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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