The company's financial position appears increasingly strained, with total debt reaching $4.0 billion against a stagnant equity base of $1.8 billion, resulting in a debt-to-equity ratio of 2.20x.
| Total Current Assets | 2.06B | 2.03B | 2.09B | 2.13B | 1.66B | 1.78B | 2.3B | 961.5M | 930.4M | 858.2M | 780M | 751.7M | 724.7M |
| Cash & Short-Term Investments | 57.5M | 70.7M | 71.4M | 304.8M | 525M | 783.5M | 1.36B | 12.2M | 55.6M | 57.1M | 36.4M | 30.6M | 27M |
| Cash Only | 57.5M | 70.7M | 71.4M | 304.8M | 525M | 783.5M | 1.36B | 12.2M | 55.6M | 57.1M | 36.4M | 30.6M | 27M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 750.5M | 781.6M | 743.6M | 724.2M | 447.3M | 366.9M | 342.1M | 340.1M | 225.9M | 185.2M | 186.5M | 171.4M | 167.8M |
| Days Sales Outstanding | 42.66 | 44.22 | 41.97 | 49.4 | 39.83 | 36.48 | 32.93 | 33.05 | 24.08 | 21.34 | 22.74 | 21.39 | 21.76 |
| Inventory | 1.09B | 1.04B | 1.14B | 932M | 574.4M | 513.5M | 486.7M | 498.3M | 549.7M | 525M | 498.9M | 488.2M | 440.7M |
| Days Inventory Outstanding | 73.21 | 74.8 | 88.41 | 86.81 | 64.18 | 66.02 | 61.32 | 66.07 | 78.86 | 80.2 | 78.09 | 76.23 | 72.21 |
| Other Current Assets | 158.3M | 145M | 136.4M | 166.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 89.2M |
| Total Non-Current Assets | 5.33B | 5.36B | 5.28B | 4.39B | 2.48B | 2.43B | 2.36B | 2.09B | 1.82B | 1.63B | 1.38B | 1.3B | 1.21B |
| Property, Plant & Equipment | 3.8B | 3.83B | 3.77B | 2.95B | 1.7B | 1.67B | 1.7B | 1.6B | 1.42B | 1.27B | 1.04B | 1B | 926.8M |
| Fixed Asset Turnover | 1.71x | 1.68x | 1.72x | 1.81x | 2.41x | 2.20x | 2.23x | 2.35x | 2.41x | 2.49x | 2.87x | 2.92x | 3.04x |
| Goodwill | 1.14B | 1.09B | 1.06B | 1.04B | 318M | 334.5M | 303.8M | 205.9M | 135.1M | 133M | 133.9M | 134.9M | 112.6M |
| Intangible Assets | 287.8M | 322.7M | 332.8M | 110.2M | 33.7M | 36.9M | 38.3M | 37.6M | 35.4M | 37.2M | 39.6M | 41.7M | 40.9M |
| Long-Term Investments | 196.1M | 47.5M | 59.2M | 43.5M | 257.4M | 310.2M | 250.2M | 224.6M | 219.8M | 178.6M | 155.2M | 0 | 103.5M |
| Other Non-Current Assets | 64.4M | 68.1M | 56.7M | 244.1M | 172.9M | 80.4M | 65.4M | 20.7M | 11.1M | 7.4M | 6.5M | 126.3M | 21.5M |
| Total Assets | 7.39B | 7.39B | 7.37B | 6.52B | 4.14B | 4.21B | 4.66B | 3.05B | 2.75B | 2.49B | 2.16B | 2.06B | 1.93B |
| Asset Turnover | 0.89x | 0.87x | 0.88x | 0.82x | 0.99x | 0.87x | 0.81x | 1.23x | 1.24x | 1.27x | 1.39x | 1.42x | 1.46x |
| Asset Growth % | -5.34% | 0.35% | 12.99% | 57.49% | -1.65% | -9.71% | 52.96% | 10.74% | 10.74% | 15.16% | 4.98% | 6.52% | - |
| Total Current Liabilities | 1.41B | 1.48B | 1.62B | 1.36B | 699.1M | 618.2M | 1.02B | 552.8M | 518.7M | 555.4M | 409.6M | 389.2M | 317.4M |
| Accounts Payable | 599.7M | 616.4M | 833.8M | 636.6M | 402.6M | 359.3M | 244.4M | 289.2M | 254.4M | 295M | 238M | 235.9M | 229.2M |
| Days Payables Outstanding | 43.54 | 44.53 | 64.74 | 59.3 | 44.98 | 46.2 | 30.79 | 38.34 | 36.5 | 45.07 | 37.25 | 36.83 | 37.55 |
| Short-Term Debt | 349.8M | 448.6M | 382.7M | 213.8M | 32.2M | 32M | 547.5M | 46.4M | 48.3M | 59.9M | 38.4M | 42.7M | 2.9M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 157.1M | 111.5M | 97.4M | 241.4M | 81M | 83.2M | 74.5M | 92.4M | 91.7M | 80.1M | 64.8M | 0 | 65.5M |
| Current Ratio | 1.46x | 1.38x | 1.29x | 1.56x | 2.37x | 2.88x | 2.25x | 1.74x | 1.79x | 1.55x | 1.90x | 1.93x | 2.28x |
| Quick Ratio | 0.69x | 0.68x | 0.59x | 0.88x | 1.55x | 2.05x | 1.77x | 0.84x | 0.73x | 0.60x | 0.69x | 0.68x | 0.89x |
| Cash Conversion Cycle | 72.33 | 74.49 | 65.63 | 76.92 | 59.03 | 56.31 | 63.45 | 60.77 | 66.45 | 56.48 | 63.57 | 60.78 | 56.41 |
| Total Non-Current Liabilities | 4.16B | 4.18B | 3.96B | 3.75B | 3.08B | 3.11B | 3.4B | 2.5B | 2.57B | 2.58B | 348.1M | 309.2M | 347.6M |
| Long-Term Debt | 3.64B | 3.68B | 3.44B | 3.25B | 2.7B | 2.71B | 2.99B | 2.28B | 2.34B | 2.37B | 104.6M | 86.5M | 124.3M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 1.06B | 253.5M | 256.2M | 252.1M | 172.5M | 159.7M | 152.5M | 125.7M | 92.1M | 90.5M | 144M | 0 | 0 |
| Other Non-Current Liabilities | 241.2M | 242.6M | 258.2M | 247.8M | 211.9M | 245.5M | 252.3M | 94M | 139.9M | 121.9M | 99.5M | 222.7M | 223.3M |
| Total Liabilities | 5.57B | 5.65B | 5.58B | 5.11B | 3.78B | 3.73B | 4.42B | 3.05B | 3.09B | 3.13B | 757.7M | 698.4M | 665M |
| Total Debt | 4.02B | 4.16B | 3.85B | 3.49B | 2.75B | 2.77B | 3.57B | 2.33B | 2.38B | 2.42B | 143M | 129.2M | 127.2M |
| Net Debt | 3.96B | 4.08B | 3.78B | 3.19B | 2.23B | 1.98B | 2.2B | 2.31B | 2.33B | 2.37B | 106.6M | 98.6M | 100.2M |
| Debt / Equity | 2.20x | 2.39x | 2.15x | 2.47x | 7.63x | 5.76x | 14.87x | - | - | - | 0.10x | 0.10x | 0.10x |
| Debt / EBITDA | 4.04x | 3.87x | 2.81x | 3.16x | 4.32x | 4.21x | 4.83x | 2.80x | 3.30x | 3.86x | 0.30x | 0.27x | 0.29x |
| Net Debt / EBITDA | 3.99x | 3.81x | 2.76x | 2.88x | 3.50x | 3.02x | 2.98x | 2.79x | 3.22x | 3.77x | 0.23x | 0.21x | 0.22x |
| Interest Coverage | 3.44x | 3.78x | 8.04x | 12.30x | 2.69x | 4.00x | 5.16x | 6.24x | 5.33x | 8.47x | 61.20x | 60.54x | 65.00x |
| Total Equity | 1.83B | 1.74B | 1.79B | 1.41B | 360.5M | 480.6M | 240M | -4.6M | -334.8M | -647.2M | 1.4B | 1.36B | 1.26B |
| Equity Growth % | 13.94% | -2.8% | 26.68% | 291.48% | -24.99% | 100.25% | 5317.39% | 98.63% | 48.27% | -146.21% | 3.17% | 7.31% | - |
| Book Value per Share | 13.12 | 12.18 | 12.28 | 9.72 | 2.47 | 3.27 | 1.63 | -0.03 | -2.28 | -4.41 | 9.57 | 9.27 | 8.64 |
| Total Shareholders' Equity | 1.83B | 1.74B | 1.79B | 1.41B | 360.5M | 480.6M | 240M | -4.6M | -334.8M | -647.2M | 1.4B | 1.36B | 1.26B |
| Common Stock | 152.1M | 151.4M | 150.7M | 150.3M | 148M | 147.6M | 147M | 146.7M | 146.4M | 146.1M | 0 | 0 | 1.24B |
| Retained Earnings | 2.87B | 2.85B | 2.7B | 2.16B | 1.31B | 1.24B | 1.06B | 803.6M | 426.4M | 121M | 0 | 0 | 0 |
| Treasury Stock | -897.5M | -838M | -540.9M | -314.3M | -264.1M | -104.3M | -68.2M | -39.3M | -2.9M | -200K | 0 | 0 | 0 |
| Accumulated OCI | 142.9M | 54.5M | -12.9M | -26.8M | -15.6M | 29.5M | -40.5M | -25.3M | -4.3M | -9.3M | -9.2M | -5.1M | 20.7M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Elevated leverage and ERP friction
As reported in recent financial statements, Lamb Weston's balance sheet trajectory appears increasingly strained, with total debt rising to $4.0 billion in 2026Q3 while equity remains largely stagnant at $1.8 billion, signaling a weakening financial position as the company navigates ongoing operational and integration challenges.
The persistent gap between debt accumulation and equity growth suggests that the company is relying heavily on external financing to fund operations and capital projects. Investors should monitor whether this trend continues, as the lack of meaningful equity expansion may limit the company's flexibility during periods of market volatility.
Based on the company's reported figures, the debt-to-equity ratio has remained elevated, fluctuating between 2.15x and 2.61x over the last ten quarters, which indicates that Lamb Weston is operating with a high degree of financial leverage that may restrict future capital allocation options.
This level of indebtedness appears to be a structural necessity given the capital-intensive nature of the potato processing industry. However, the current leverage profile leaves little room for error, particularly if the company's cash flow generation remains inconsistent due to the ongoing ERP-related operational friction.
According to quarterly filings, Lamb Weston maintains a heavy asset base with net PPE consistently around $3.8 billion, reflecting the significant capital investment required to maintain its specialized processing infrastructure within the critical Columbia Basin and Alberta growing regions.
The concentration of assets in specialized manufacturing facilities underscores the company's high-barrier-to-entry moat but also highlights the risk of fixed-cost deleveraging. If capacity utilization rates fall, the high carrying value of these assets may become a drag on return on invested capital metrics.
As indicated by the provided data, Lamb Weston's cash position has remained thin, with cash balances dropping to $57.5 million in 2026Q3, while the current ratio of 1.46 suggests a limited buffer against unexpected operational shocks or further supply chain disruptions.
The minimal cash reserves relative to the company's scale suggest that liquidity is tightly managed and potentially vulnerable to sudden working capital outflows. This tight positioning may force the company to rely on revolving credit facilities, increasing sensitivity to interest rate fluctuations and credit market conditions.
Quick answers to the most common questions about buying LW stock.
As of 2025, Lamb Weston Holdings, Inc. (LW) had total assets of $7.39B including $2.03B in current assets.
Lamb Weston Holdings, Inc. (LW) carries total debt of $4.16B, offset by $70.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Lamb Weston Holdings, Inc. (LW) has total shareholders' equity (book value) of $1.74B ($12.18 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Lamb Weston Holdings, Inc. (LW) reported a current ratio of 1.38x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.