Revenue growth remains highly cyclical, oscillating from a 2.4% contraction in 2026Q1 to a 13.9% expansion by 2026Q4, while gross margins have fluctuated significantly between 4.5% and 16.4% over the last ten quarters.
| Metric | Mar'26 | Mar'25 | Mar'24 | Mar'23 | Mar'22 | Mar'21 | Mar'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 | Mar'15 | Mar'14 | Mar'13 | Mar'12 | Mar'11 | Mar'10 | Mar'09 | Mar'08 | Mar'07 | Mar'06 | Mar'05 | Mar'04 | Mar'03 | Mar'02 | Mar'01 | Mar'00 | Mar'99 | Mar'98 | Mar'97 |
|---|
| Sales/Revenue | 1.66B | 1.58B | 1.46B | 1.51B | 1.39B | 1.47B | 1.34B | 1.2B | 1.16B | 1.26B | 1.28B | 1.29B | 1.34B | 1.28B | 1.26B | 1.19B | 1.28B | 1.28B | 1.08B | 1.02B | 883.82M | 864.27M | 890.85M | 644.38M | 651.08M | 674.3M | 604.96M | 576.2M | 560.5M | 571M |
| Revenue Growth % | 5.12% | 8.25% | -3.36% | 8.96% | -5.61% | 9.87% | 11.35% | 3.15% | -7.87% | -1.36% | -0.53% | -4.02% | 5.01% | 1.47% | 5.73% | -7.07% | -0.04% | 18.5% | 5.45% | 15.96% | 2.26% | -2.98% | 38.25% | -1.03% | -3.44% | 11.46% | 4.99% | 2.8% | -1.84% | 12.4% |
| Cost of Goods Sold | 1.43B | 1.43B | 1.27B | 1.41B | 1.24B | 1.24B | 1.19B | 1.16B | 1.08B | 1.15B | 1.13B | 1.2B | 1.25B | 1.13B | 1.16B | 1.1B | 1.13B | 1.16B | 986.46M | 905.21M | 796.22M | 800M | 821.6M | 590.08M | 609.57M | 606.4M | 534.29M | 511.1M | 492.6M | 500M |
| COGS % of Revenue | 86.07% | 90.49% | 87.1% | 93.09% | 89.78% | 84.18% | 89.38% | 96.71% | 93.03% | 91.13% | 88.23% | 93.44% | 93.12% | 88.93% | 92.62% | 92.16% | 88.26% | 90.67% | 91.28% | 88.33% | 90.09% | 92.56% | 92.23% | 91.57% | 93.63% | 89.93% | 88.32% | 88.7% | 87.89% | 87.57% |
| Gross Profit | 231.21M | 150.2M | 188.22M | 104.32M | 141.6M | 232.19M | 141.89M | 39.5M | 81M | 112M | 150.58M | 84.36M | 92.27M | 141.31M | 92.82M | 93.22M | 150.29M | 119.55M | 94.27M | 119.65M | 87.6M | 64.27M | 69.25M | 54.3M | 41.5M | 67.89M | 70.66M | 65.1M | 67.9M | 71M |
| Gross Margin % | 13.93% | 9.51% | 12.9% | 6.91% | 10.22% | 15.82% | 10.62% | 3.29% | 6.97% | 8.87% | 11.77% | 6.56% | 6.88% | 11.07% | 7.38% | 7.84% | 11.74% | 9.33% | 8.72% | 11.67% | 9.91% | 7.44% | 7.77% | 8.43% | 6.37% | 10.07% | 11.68% | 11.3% | 12.11% | 12.43% |
| Gross Profit Growth % | 53.94% | -20.2% | 80.43% | -26.33% | -39.02% | 63.64% | 259.25% | -51.24% | -27.68% | -25.62% | 78.49% | -8.56% | -34.71% | 52.24% | -0.44% | -37.97% | 25.71% | 26.82% | -21.21% | 36.58% | 36.29% | -7.18% | 27.52% | 30.84% | -38.87% | -3.92% | 8.54% | -4.12% | -4.37% | -10.13% |
| Operating Expenses | 82.82M | 72.43M | 80.99M | 82.96M | 77.59M | 51.12M | 71.36M | 77.58M | 66.17M | 77.26M | 58.85M | 64.01M | 67.36M | 70.38M | 67.2M | 60.93M | 65.29M | 71.36M | 61.64M | 58.7M | 35.24M | 39.4M | 32.77M | 21.27M | 21.09M | 48.07M | 46.37M | 46.4M | 48.9M | 40.2M |
| OpEx % of Revenue | 4.99% | 4.59% | 5.55% | 5.5% | 5.6% | 3.48% | 5.34% | 6.47% | 5.69% | 6.12% | 4.6% | 4.98% | 5.03% | 5.51% | 5.34% | 5.12% | 5.1% | 5.57% | 5.7% | 5.73% | 3.99% | 4.56% | 3.68% | 3.3% | 3.24% | 7.13% | 7.67% | 8.05% | 8.72% | 7.04% |
| Selling, General & Admin | 83.1M | 75.46M | 81.21M | 81.07M | 76.34M | 79.95M | 76.97M | 72.55M | 70.19M | 73M | 73.52M | 67.38M | 70.13M | 68.85M | 67.97M | 60.42M | 65.13M | 69.84M | 0 | 57.99M | 33.32M | 31.73M | 32.77M | 21.27M | 21.09M | 24.34M | 22.82M | 18.8M | 20.1M | 13.9M |
| SG&A % of Revenue | 5.01% | 4.78% | 5.57% | 5.37% | 5.51% | 5.45% | 5.76% | 6.05% | 6.04% | 5.78% | 5.75% | 5.24% | 5.23% | 5.39% | 5.4% | 5.08% | 5.09% | 5.45% | - | 5.66% | 3.77% | 3.67% | 3.68% | 3.3% | 3.24% | 3.61% | 3.77% | 3.26% | 3.59% | 2.43% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 61.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.66% | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | -275K | -3.03M | -222K | 1.89M | 1.24M | -28.83M | -5.61M | 5.03M | -4.01M | 4.27M | -14.67M | -3.37M | -2.77M | 1.53M | -775K | 510K | 156K | 1.52M | 497K | 713K | 1.92M | 7.68M | 0 | 0 | 0 | 23.73M | 23.55M | 27.6M | 28.8M | 26.3M |
| Operating Income | 148.39M | 77.77M | 107.23M | 21.36M | 64.01M | 181.07M | 70.52M | -38.08M | 14.83M | 34.74M | 91.73M | 20.35M | 24.91M | 70.93M | 25.62M | 32.29M | 85M | 48.19M | 32.62M | 60.95M | 52.36M | 24.87M | 36.48M | 33.03M | 20.41M | 19.82M | 24.29M | 18.7M | 19M | 30.8M |
| Operating Margin % | 8.94% | 4.93% | 7.35% | 1.42% | 4.62% | 12.34% | 5.28% | -3.17% | 1.28% | 2.75% | 7.17% | 1.58% | 1.86% | 5.56% | 2.04% | 2.71% | 6.64% | 3.76% | 3.02% | 5.95% | 5.92% | 2.88% | 4.09% | 5.13% | 3.13% | 2.94% | 4.01% | 3.25% | 3.39% | 5.39% |
| Operating Income Growth % | 90.81% | -27.47% | 402.04% | -66.63% | -64.65% | 156.75% | 285.2% | -356.75% | -57.31% | -62.13% | 350.68% | -18.28% | -64.89% | 176.84% | -20.66% | -62.01% | 76.39% | 47.72% | -46.47% | 16.4% | 110.54% | -31.82% | 10.42% | 61.89% | 2.94% | -18.38% | 29.89% | -1.58% | -38.31% | 29.41% |
| EBITDA | 192.39M | 122.55M | 150.71M | 62.3M | 100.53M | 213.44M | 101.46M | -6.84M | 46.38M | 59.57M | 113.47M | 42.19M | 48.19M | 94.19M | 48.31M | 54.88M | 107.41M | 70.21M | 55.29M | 83.83M | 76.15M | 54.05M | 65.87M | 55.63M | 44.95M | 43.56M | 47.84M | 46.3M | 47.8M | 57.1M |
| EBITDA Margin % | 11.59% | 7.76% | 10.33% | 4.13% | 7.26% | 14.54% | 7.6% | -0.57% | 3.99% | 4.72% | 8.87% | 3.28% | 3.6% | 7.38% | 3.84% | 4.61% | 8.39% | 5.48% | 5.12% | 8.18% | 8.62% | 6.25% | 7.39% | 8.63% | 6.9% | 6.46% | 7.91% | 8.04% | 8.53% | 10% |
| EBITDA Growth % | 56.99% | -18.69% | 141.91% | -38.03% | -52.9% | 110.38% | 1582.42% | -114.76% | -22.14% | -47.5% | 168.96% | -12.45% | -48.84% | 94.94% | -11.96% | -48.91% | 52.98% | 26.99% | -34.04% | 10.08% | 40.9% | -17.95% | 18.4% | 23.76% | 3.2% | -8.96% | 3.33% | -3.14% | -16.29% | 20.46% |
| D&A (Non-Cash Add-back) | 44M | 44.78M | 43.48M | 40.94M | 36.52M | 32.38M | 30.93M | 31.23M | 31.55M | 24.82M | 21.74M | 21.83M | 23.28M | 23.25M | 22.69M | 22.58M | 22.41M | 22.03M | 22.67M | 22.88M | 23.79M | 29.18M | 29.39M | 22.6M | 24.55M | 23.73M | 23.55M | 27.6M | 28.8M | 26.3M |
| EBIT | 148.39M | 88.69M | 117.72M | 28.65M | 65.6M | 166.18M | 77.47M | -33.79M | 21.56M | 35.34M | 91.69M | 20.99M | 24.91M | 71.11M | 26.33M | 32.3M | 85M | 48.2M | 33.12M | 61.66M | 54.28M | 32.55M | 36.48M | 33.03M | 20.41M | 19.82M | 24.29M | 18.7M | 19M | 30.8M |
| Net Interest Income | -18.14M | -33.24M | -34.02M | -14.32M | -5.64M | -6.13M | -11.83M | -15.44M | -12.82M | -9.67M | -8.04M | -6.86M | -7.56M | -7.49M | -8.1M | -8.83M | -9.64M | -14.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.75M | 967K | 699K | 528K | 63K | 42K | 25K | 28K | 9K | 0 | 0 | 4K | 4K | 179K | 707K | 1K | 2K | 14K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 19.89M | 34.21M | 34.72M | 14.85M | 5.7M | 6.17M | 11.86M | 15.46M | 12.83M | 9.67M | 8.04M | 6.87M | 7.57M | 7.67M | 8.81M | 8.83M | 9.64M | 14.12M | 18.68M | 12.5M | 21.85M | 24.43M | 15.72M | 23.2M | 19.46M | 18.66M | 18.66M | 8.1M | 26.7M | 12.2M |
| Other Income/Expense | 703K | -23.29M | -24.23M | -7.57M | -4.11M | -21.05M | -4.91M | -11.18M | -6.1M | -9.09M | -8.09M | -6.23M | -7.56M | -7.49M | -8.1M | -8.83M | -9.64M | -14.1M | -17.91M | -16M | -16.9M | -12.84M | -15.93M | -18.48M | -18.45M | -18.66M | -17.4M | -16.7M | -24.2M | -16.8M |
| Pretax Income | 149.09M | 54.48M | 83M | 13.79M | 59.9M | 160.02M | 65.61M | -49.26M | 8.73M | 25.65M | 83.64M | 14.12M | 17.34M | 63.45M | 17.52M | 23.47M | 75.36M | 34.09M | 14.71M | 44.94M | 35.46M | 12.03M | 20.55M | 14.56M | 1.95M | 1.16M | 6.89M | 2M | -5.2M | 14M |
| Pretax Margin % | 8.98% | 3.45% | 5.69% | 0.91% | 4.32% | 10.9% | 4.91% | -4.11% | 0.75% | 2.03% | 6.54% | 1.1% | 1.29% | 4.97% | 1.39% | 1.97% | 5.89% | 2.66% | 1.36% | 4.39% | 4.01% | 1.39% | 2.31% | 2.26% | 0.3% | 0.17% | 1.14% | 0.35% | -0.93% | 2.45% |
| Income Tax | 34.42M | 13.26M | 19.68M | 4.56M | 13.7M | 33.92M | 14.43M | -12.78M | -1.31M | 9.75M | 27.24M | 4.22M | 3.56M | 22.04M | 6.26M | 5.8M | 26.95M | 15.32M | 6.69M | 12.88M | 13.46M | 4.13M | 7.61M | 5.51M | 814K | 349K | 2.57M | 600K | -2M | 5M |
| Effective Tax Rate % | 23.09% | 24.34% | 23.71% | 33.07% | 22.87% | 21.2% | 21.99% | 25.94% | -15.06% | 38.03% | 32.57% | 29.89% | 20.55% | 34.73% | 35.76% | 24.7% | 35.76% | 44.95% | 45.49% | 28.65% | 37.97% | 34.29% | 37.02% | 37.84% | 41.66% | 30.03% | 37.28% | 30% | 38.46% | 35.71% |
| Net Income | 114.67M | 41.22M | 63.32M | 9.23M | 46.2M | 126.1M | 52.34M | 5.75M | -8.48M | 15.89M | 56.4M | 9.9M | 13.78M | 41.41M | 11.26M | 17.67M | 48.41M | 18.77M | 8.02M | 32.07M | 21.99M | 7.91M | 12.94M | 9.05M | 1.14M | 813K | 4.32M | 5.2M | -5.2M | 7.6M |
| Net Margin % | 6.91% | 2.61% | 4.34% | 0.61% | 3.34% | 8.59% | 3.92% | 0.48% | -0.73% | 1.26% | 4.41% | 0.77% | 1.03% | 3.24% | 0.89% | 1.49% | 3.78% | 1.47% | 0.74% | 3.13% | 2.49% | 0.91% | 1.45% | 1.4% | 0.18% | 0.12% | 0.71% | 0.9% | -0.93% | 1.33% |
| Net Income Growth % | 178.17% | -34.89% | 585.93% | -80.02% | -63.36% | 140.95% | 810.65% | 167.77% | -153.35% | -71.82% | 469.74% | -28.16% | -66.73% | 267.92% | -36.3% | -63.5% | 157.99% | 134.01% | -74.99% | 45.81% | 178.15% | -38.9% | 42.99% | 693.86% | 40.22% | -81.18% | -16.92% | 200% | -168.42% | 175.25% |
| Net Income (Continuing) | 114.67M | 41.22M | 63.32M | 9.23M | 46.2M | 126.1M | 51.19M | -36.48M | 10.05M | 15.89M | 56.4M | 9.9M | 13.78M | 41.41M | 11.26M | 17.67M | 48.41M | 18.77M | 8.02M | 32.07M | 21.99M | 7.91M | 12.94M | 9.05M | 1.14M | 813K | 4.32M | 1.4M | -3.2M | 9M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 1.15M | 42.23M | -18.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5M | -2M | -1.4M |
| Minority Interest | 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 |
| EPS (Diluted) | 16.59 | 5.90 | 8.56 | 1.16 | 5.24 | 13.72 | 5.58 | 0.59 | -1.41 | 1.27 | 5.42 | 0.90 | 1.23 | 3.57 | 0.92 | 1.45 | 3.96 | 1.53 | 0.65 | 2.63 | 1.96 | 0.70 | 1.17 | 0.88 | 0.11 | 0.08 | 0.42 | 0.85 | -0.87 | 1.25 |
| EPS Growth % | 181.19% | -31.07% | 637.93% | -77.86% | -61.81% | 145.88% | 845.76% | 141.84% | -211.02% | -76.57% | 502.22% | -26.83% | -65.55% | 288.04% | -36.55% | -63.38% | 158.82% | 135.38% | -75.29% | 34.18% | 180% | -40.17% | 32.95% | 700% | 37.5% | -80.95% | -50.59% | 197.7% | -169.6% | 169.06% |
| EPS (Basic) | 16.75 | 5.95 | 8.64 | 1.19 | 5.28 | 13.82 | 5.62 | 0.59 | -1.41 | 1.27 | 5.46 | 0.91 | 1.24 | 3.59 | 0.93 | 1.45 | 3.98 | 1.54 | 0.66 | 2.65 | 1.97 | 0.71 | 1.18 | 0.89 | 0.17 | 0.12 | 0.66 | 0.85 | -0.87 | 1.27 |
| Diluted Shares Outstanding | 6.9M | 6.95M | 7.38M | 7.87M | 8.78M | 9.16M | 9.33M | 9.65M | 9.84M | 9.86M | 9.95M | 10.76M | 10.82M | 11.22M | 11.8M | 11.64M | 9.96M | 7.65M | 7.65M | 7.4M | 6.86M | 6.8M | 11.19M | 6.58M | 6.71M | 5.94M | 8M | 6.12M | 6M | 6.08M |
| Basic Shares Outstanding | 6.84M | 6.89M | 7.32M | 7.8M | 8.71M | 9.09M | 9.26M | 9.65M | 9.77M | 9.79M | 9.88M | 10.69M | 10.75M | 11.15M | 11.73M | 11.56M | 9.89M | 7.59M | 7.58M | 7.34M | 6.83M | 6.7M | 11.13M | 6.58M | 6.71M | 5.94M | 6.55M | 6.12M | 5.98M | 5.98M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.18% | 0.25% | 2.02% | 2.83% | 0.53% | - | - | - |
Commodity input cost volatility
According to the provided quarterly income statements, SENEA's revenue growth has exhibited significant volatility, ranging from a 2.4% contraction in 2026Q1 to a 13.9% expansion by 2026Q4, reflecting the inherent seasonality of the North American harvest cycle and the company's reliance on high-volume private-label contracts.
The revenue trajectory appears heavily influenced by the timing of agricultural harvests, which complicates a linear assessment of growth durability. Investors should monitor whether the recent 13.9% year-over-year revenue expansion in 2026Q4 represents a sustainable shift in market share or merely a timing variance in inventory shipments to major retail partners.
As reported in financial statements, SENEA's gross margins have fluctuated between a low of 4.5% in 2025Q4 and a peak of 16.4% in 2026Q3, highlighting the company's vulnerability to commodity steel pricing and agricultural input costs inherent in its vertical integration model.
The wide variance in gross margins suggests that the company's ability to pass through inflationary pressures to retailers is inconsistent. This volatility implies that profitability is highly sensitive to external commodity cycles, necessitating a cautious view on the stability of operating margins during periods of supply chain disruption.
Based on the income statement data, SENEA's operating income scaled from $2.0 million in 2025Q4 to $60.0 million in 2026Q3, indicating that while the company possesses potential for operating leverage, it remains tethered to the cyclicality of its gross profit performance and seasonal volume throughput.
The lack of consistent scaling between gross profit and operating income suggests that SG&A expenses are relatively fixed, which can lead to significant margin expansion during peak harvest quarters. However, this structure also creates downside risk during lower-volume periods, as the company may struggle to maintain operating profitability when revenue contracts.
Analysis of the reported figures reveals that EPS has swung from a loss of $0.32 in 2024Q4 to a high of $6.48 in 2026Q3, a trend that may be partially attributed to the company's LIFO inventory accounting method during periods of significant food price inflation.
The dramatic fluctuations in net income suggest that reported earnings may not always reflect the underlying cash-generating capacity of the business. Investors should investigate the impact of LIFO reserve adjustments, as these accounting choices likely obscure the true replacement cost of inventory and the normalized profitability of the core operations.
Data from the last ten quarters indicates that despite recent revenue gains, the company's reliance on low-margin private-label goods leaves it exposed to margin compression if freight and raw material costs continue to outpace the company's ability to implement price increases for its retail customers.
Short-term margin improvements may be misleading if they are driven by temporary inventory valuation effects rather than structural pricing power. The persistent risk of rising tinplate steel costs warrants further investigation into whether the company's vertical integration provides a genuine competitive moat or merely a fixed-cost burden in a deflationary environment.
Quick answers to the most common questions about buying SENEA stock.
For fiscal year 2026, Seneca Foods Corporation (SENEA) reported total revenue of $1.66B. This represents a 190.7% increase compared to $571.0M in 1997.
Seneca Foods Corporation (SENEA) is profitable, generating $114.7M in net income for the fiscal year ending 2026 with a net profit margin of 6.9%.
Seneca Foods Corporation (SENEA) reported an operating income of $148.4M, resulting in an operating profit margin of 8.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Seneca Foods Corporation (SENEA) generated $231.2M in gross profit for the year, representing a gross profit margin of 13.9%. This demonstrates the company's core pricing power and production efficiency.