FirmAtlas
Company handbook · HRL · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
HRL · CIK 48465 · LATEST FILING: 10-Q JUL '26 · FILED AUG 27, 2026
HORMEL FOODS CORPORATION
$20.40
+0.21 (+1.04%)
Close, Oct 16, 2026 · 52-week $19–27
Last fiscal year
HORMEL FOODS CORPORATION reported revenue of $12.1B for the year ended Oct 26, 2025 (FY25), up 1.6% from FY24. Net income was $478M, operating cash flow $845M and free cash flow $534M. Source: 10-K filed Dec 5, 2025.
Market cap
$11.2B
P/E
32.8
EV/EBITDA
13.6x
P/B
1.4
Div yield
5.75%
ROIC
5.1%
Revenue 1Y
1.6%/yr
EPS 1Y
−40.8%/yr
Shares 1Y
+0.3%
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Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
HQAustin, MN
AuditorErnst & Young LLP
Year endsOctober
Revenue by segment · FY25
Retail62%
Foodservice33%
International6%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
−6.0%
−13.7%
−14.0%
−14.1%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.8B deployed
Capex
$567M
31.3%
Dividends
$1.2B
68.7%
Operating cash flow over the period: $2.1B. Total debt changed by −$0M. R&D of $71M is already inside operating costs.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · FY25 = year ended Oct 26, 2025 · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jul '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
11,921
12,106+1.6%
12,147
YoY
+1.6%
Gross profit
2,022
1,892−6.4%
1,904
Gross margin
17.0%
15.6%−1.3 pp
—
Operating income
1,068
719−32.7%
574
Operating margin
9.0%
5.9%−3.0 pp
—
EBITDA
1,326
983−25.9%
—
EBITDA margin
11.1%
8.1%−3.0 pp
—
Interest expense
81
78−3.5%
—
Interest coverage
16.39x
12.59x−3.80x
—
Net income
805
478−40.6%
343
YoY
−40.6%
Net margin
6.8%
4.0%−2.8 pp
—
EPS (diluted, $)
1.47
0.87−40.8%
0.63
YoY
−40.8%
Balance sheet
Total assets
13,435
13,393−0.3%
13,292
Cash & short-term investments
767
704−8.2%
—
Accounts receivable
818
785−4.0%
—
Inventory
1,576
1,747+10.8%
—
Net PP&E
2,195
2,239+2.0%
—
Other assets
8,079
7,919−2.0%
—
Total liabilities
5,441
5,492+0.9%
5,449
Accounts payable
736
732−0.5%
—
Total debt
2,851
2,851−0.0%
2,349
Other liabilities
1,855
1,910+3.0%
—
Shareholders’ equity
7,993
7,901−1.2%
7,843
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,267
845−33.3%
1,092
Net income
805
478−40.6%
—
Depreciation & amortization
258
264+2.4%
—
Stock-based compensation
23
26+10.2%
—
Working capital & other
181
78−56.9%
—
Cash from investing
(237)
(299)n/m
—
Capex
(256)
(311)n/m
—
PP&E sold
0.5
0.1−72.2%
—
Investments bought
(6)
(7)n/m
—
Other investing
25
19−24.0%
—
Cash from financing
(1,030)
(614)n/m
—
Debt raised
498
0−100.0%
—
Dividends
(615)
(633)n/m
—
Buybacks
0
0n/m
—
Shares issued
41
22−45.8%
—
Other financing
(954)
(3)n/m
—
Net change in cash
5
(71)−1431.1%
—
Free cash flow (OCF − capex)
1,010
534−47.1%
781
Where the cash went
Operating cash flow
1,267
845−33.3%
1,092
Reinvested in the business
256
311+21.2%
—
% of operating cash flow
20.2%
36.8%
Capex
256
311+21.2%
311
R&D (memo, already in costs)
36
35−2.5%
—
Free cash flow
1,010
534−47.1%
781
YoY
−47.1%
Returned to shareholders
615
633+3.0%
—
% of free cash flow
60.9%
118.5%
Dividends
615
633+3.0%
—
Buybacks
0
0n/m
—
Change in total debt
—
(0.2)
—
Cash left over
—
(99)
—
FCF conversion (FCF ÷ net income)
125.5%
111.7%−13.8 pp
—
Owner earnings
—
289
—
Owner earnings margin
—
2.4%
—
Returns & ratios
ROIC (all capital)
8.2%
5.1%−3.1 pp
—
ROIC (operating)
21.5%
13.1%−8.4 pp
—
Net debt / EBITDA
1.57x
2.19x+0.61x
—
Debt / equity
0.36x
0.36x+0.00x
—
Cash conversion cycle (days)
56
60+4 d
—
ROE
10.1%
6.1%−4.0 pp
—
ROA
6.0%
3.6%−2.4 pp
—
ROCE
8.9%
6.0%−2.9 pp
—
NOPAT
830
517−37.6%
—
Invested capital (operating)
3,853
4,039+4.8%
—
Invested capital (all)
10,078
10,048−0.3%
—
Reinvestment rate
—
35.9%
—
Debtor days
25
24−1 d
—
Inventory days
58
62+4 d
—
Days payable
27
26−1 d
—
Income
Oct '25
Jan '26
Apr '26
Jul '26
Revenue
3,186
3,027
2,973
2,961
vs year-ago quarter
Gross profit
445
470
519
472
Gross margin
14.0%
15.5%
17.4%
15.9%
Operating income
2
244
217
111
Net income
(56)
182
157
60
vs year-ago quarter
Net margin
−1.8%
6.0%
5.3%
2.0%
EPS (diluted, $)
−0.10
0.33
0.29
0.11
vs year-ago quarter
Balance sheet
Oct '25
Jan '26
Apr '26
Jul '26
Total assets
13,393
13,316
13,344
13,292
Cash & equivalents
704
868
827
840
Total debt
2,851
2,851
2,351
2,349
Shareholders’ equity
7,901
7,938
7,949
7,843
Cash flow
Oct '25
Jan '26
Apr '26
Jul '26
Operating cash flow
323
349
179
241
Capex
91
69
82
68
Free cash flow
231
280
97
172
vs year-ago quarter