Cal-Maine Foods vs Universal
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The short version
- Cal-Maine Foods is the larger business, with $2.9B of revenue in fiscal 2026 against $2.9B for Universal.
- Universal grew revenue faster (−1.3%, against −31.7%).
- Cal-Maine Foods kept more of each dollar of sales as operating profit (12.0% operating margin, against 5.8%).
- Cal-Maine Foods turned more of its sales into free cash flow (11.3% FCF margin, against 2.8%).
- Investors pay more for each dollar of Universal’s earnings: a P/E of 51.7x against 51.3x for Cal-Maine Foods.
| Latest fiscal year | CALM · FY26 | UVV · FY26 |
|---|---|---|
| Size | ||
| Market cap | $2.9B | $986M |
| Revenue | $2.9B | $2.9B |
| Free cash flow | $329M | $80.3M |
| Net income | $317M | $32.6M |
| Growth | ||
| Revenue growth | −31.7% | −1.3% |
| 5-year growth | 16.6% | 8.0% |
| Share count change | −2.3% | 0.2% |
| Profitability | ||
| Gross margin | 23.1% | 16.4% |
| Operating margin | 12.0% | 5.8% |
| Net margin | 10.9% | 1.1% |
| FCF margin | 11.3% | 2.8% |
| Return on capital | — | 4.0% |
| Return on equity | 12.2% | 2.3% |
| Balance sheet | ||
| Net debt | — | $842M |
| Net debt / EBITDA | — | 3.8x |
| Dividends and buybacks | $232M | $81.3M |
| Valuation & quality | ||
| P/E | 51.3x | 51.7x |
| Piotroski F-score | — | 5 |
Revenue
FY17
CALM $1.1B
UVV $2.0B
FY18
CALM $1.5B
UVV $2.0B
FY19
CALM $1.4B
UVV $2.2B
FY20
CALM $1.4B
UVV $1.9B
FY21
CALM $1.3B
UVV $2.0B
FY22
CALM $1.8B
UVV $2.1B
FY23
CALM $3.1B
UVV $2.5B
FY24
CALM $2.3B
UVV $2.7B
FY25
CALM $4.3B
UVV $2.9B
FY26
CALM $2.9B
UVV $2.9B
CALM
UVV
Operating margin
FY17
CALM −12.5%
UVV 8.7%
FY18
CALM 6.7%
UVV 8.5%
FY19
CALM 3.4%
UVV 7.3%
FY20
CALM 0.1%
UVV 6.7%
FY21
CALM −2.0%
UVV 7.5%
FY22
CALM 8.1%
UVV 7.7%
FY23
CALM 30.8%
UVV 7.1%
FY24
CALM 13.4%
UVV 8.2%
FY25
CALM 36.1%
UVV 8.0%
FY26
CALM 12.0%
UVV 5.8%
CALM
UVV
Free cash flow
FY17
CALM −$113M
UVV $215M
FY18
CALM $181M
UVV $47.2M
FY19
CALM $47.1M
UVV $126M
FY20
CALM −$50.6M
UVV −$24.3M
FY21
CALM −$68.9M
UVV $154M
FY22
CALM $53.8M
UVV −$8.3M
FY23
CALM $726M
UVV −$65.2M
FY24
CALM $304M
UVV −$141M
FY25
CALM $1.1B
UVV $264M
FY26
CALM $329M
UVV $80.3M
CALM
UVV
Return on capital
FY17
CALM −12.1%
UVV 7.8%
FY18
CALM 11.5%
UVV 7.8%
FY19
CALM 3.9%
UVV 7.6%
FY20
CALM —
UVV 5.6%
FY21
CALM —
UVV 6.7%
FY22
CALM —
UVV 6.2%
FY23
CALM —
UVV 7.9%
FY24
CALM —
UVV 7.8%
FY25
CALM —
UVV 7.2%
FY26
CALM —
UVV 4.0%
CALM
UVV
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.