Hormel Foods
HRL NYSE· Packaged Foods & Meats
Last close · Oct 26, 2026
$20.95
KIRA · Stoqly’s AI analyst, in plain words
- Hormel Foods had $12.1B of revenue in fiscal 2025, up 1.6% on the year before. Over five years, revenue changed +4.7% a year on average.
- Its operating margin was 5.9%, down 3.0 pts: of every 100 in sales, about 6 is left after running the business.
- Hormel Foods made $478M of net profit in fiscal 2025. From fiscal 2016 to 2025, diluted EPS grew −6.8% a year.
- Free cash flow was $534M in fiscal 2025, 4.4% of revenue.
- Hormel Foods returned $633M to shareholders in fiscal 2025, 119% of free cash flow. The diluted share count rose 0.3%.
- Hormel Foods owes $2.2B more than it holds in cash, about 2.2 years of operating profit.
Market cap
$11.5B
P/E
33.3x
Revenue
$12.1B
Net income
$478M
Free cash flow
$534M
Operating margin
5.9%
Hormel Foods in 30 seconds · fiscal 2025
Are sales growing?
+1.6%
Only a little. Sales grew 1.6% last year.
Does it make a profit?
4.0%
A little. It keeps 4.0% of every sale as profit.
Does profit turn into cash?
4.4%
Partly. 4.4% of sales ends up as free cash.
Is debt under control?
2.2x
Keep an eye on it. Repaying its debt would take 2.2 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
33.3x
One share costs 33.3 times its yearly profit per share. Typical for its sector: 24.2x.
What Hormel Foods does
Hormel Foods makes and sells packaged and processed food. It started as a meat processor in 1891 in Austin, Minnesota, and has grown through its own brands and acquisitions into a global branded food company with more than $12 billion in annual revenue. Its brands include Planters, SPAM, Jennie-O, Skippy, Applegate, Wholly and Hormel Black Label. It reports three segments. Retail sells through grocery stores, mass merchants, club stores, discount chains and e-commerce providers in the U.S., and includes its MegaMex Foods joint venture. Foodservice sells to distributors and operators such as restaurants, hospitals, schools and convenience stores. International sells through retail and foodservice channels abroad and includes operations in China and Brazil. Its largest customer, Walmart, accounted for 15.6 percent of gross sales less returns and allowances in fiscal 2025.
Biggest risks, in its own words
- Reliance on suppliers, distributors and other outside parties to supply key inputs and deliver products.
- Food safety problems that come with making food for people to eat.
- Swings in commodity prices and in the supply of raw materials.
- Shoppers switching to cheaper generic or value products in some categories.
- Fiscal year ends
- October 26, 2025
- Latest annual report
- 10-K · Dec 5, 2025
- Legal name
- HORMEL FOODS CORPORATION
- CIK
- 0000048465
Hormel Foods · HRL
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $11.4B | $12.5B | $12.1B | $11.9B | $12.1B |
| Revenue growth | 18.5% | 9.4% | −2.8% | −1.6% | 1.6% |
| Gross margin | 16.9% | 17.4% | 16.5% | 17.0% | 15.6% |
| Operating margin | 9.9% | 10.5% | 8.9% | 9.0% | 5.9% |
| Net income | $909M | $1.0B | $794M | $805M | $478M |
| Net margin | 8.0% | 8.0% | 6.6% | 6.8% | 4.0% |
| Diluted EPS | $1.66 | $1.82 | $1.45 | $1.47 | $0.87 |
| Cash | |||||
| Cash from operations | $1.0B | $1.1B | $1.0B | $1.3B | $845M |
| Capital expenditure | $232M | $279M | $270M | $256M | $311M |
| Free cash flow | $770M | $856M | $778M | $1.0B | $534M |
| FCF margin | 6.8% | 6.9% | 6.4% | 8.5% | 4.4% |
| Dividends paid | $523M | $558M | $593M | $615M | $633M |
| Share buybacks | $20.0M | $0.0M | $12.3M | $0.0M | $0.0M |
| Share count change | 0.2% | 0.4% | −0.1% | −0.0% | 0.3% |
| Debt and strength | |||||
| Cash and short-term investments | $635M | $998M | $753M | $767M | $704M |
| Debt incl. finance leases | $3.3B | $3.3B | $3.3B | $2.9B | $2.9B |
| Shareholders' equity | $7.0B | $7.5B | $7.7B | $8.0B | $7.9B |
| Net debt / EBITDA | 2.0x | 1.5x | 1.9x | 1.6x | 2.2x |
| Current ratio | 2.1x | 2.5x | 1.4x | 2.3x | 2.5x |
| Interest coverage | 25.9x | 21.0x | 14.6x | 13.2x | 9.2x |
| Returns and quality | |||||
| Return on capital | 11.6% | 10.5% | 8.3% | 8.1% | 5.1% |
| Return on equity | 13.6% | 13.8% | 10.4% | 10.2% | 6.0% |
| Piotroski F-score | 3 | 6 | 5 | 8 | 5 |
| Altman Z'' | 4.4 | 4.9 | 4.3 | 4.9 | 4.7 |
Insiders bought, 12 months
$0.2M
1 insider
Insiders sold, 12 months
$0.8M
2 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Hormel Foods · HRL
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Hormel Foods HRL | $11.5B | 1.6% | 5.9% | 4.4% | 5.1% | 33.3x | 5 |
| Hershey HSY | — | 4.4% | 12.3% | 15.6% | 11.5% | — | — |
| Conagra Brands CAG | $7.0B | −2.9% | −14.4% | 8.7% | −8.3% | — | 5 |
| Campbell's CPB | $6.2B | −5.0% | 8.7% | 7.0% | 6.2% | — | 5 |
| J.M. Smucker SJM | — | 3.7% | 4.0% | 12.8% | 2.2% | 60.1x | — |
Price compared with profit (P/E)
How many times its yearly profit per share one share costs. Higher means investors pay more for each unit of profit.
KIRA
At $20.95 a share, the company is worth $11.5B: 33.3 times its earnings of the last four quarters.
Hormel Foods grew sales faster than 2 of its 4 similar companies. Its P/E is higher than 0 of 1.
Source: SEC EDGAR XBRL filings (CIK 0000048465). Data updated October 9, 2026. For information only — not investment advice. Check the original filings before relying on any figure.