Conagra Brands vs Hormel Foods
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KIRA’s take AI analyst
I put Conagra Brands and Hormel Foods side by side, using each one’s latest annual report. Here is what stands out:
- Hormel Foods is the larger business, with $12.1B of revenue in fiscal 2025 against $11.3B for Conagra Brands.
- Hormel Foods grew revenue faster (1.6%, against −2.9%).
- Hormel Foods kept more of each dollar of sales as operating profit (5.9% operating margin, against −14.4%).
- Conagra Brands turned more of its sales into free cash flow (8.7% FCF margin, against 4.4%).
- Hormel Foods earned a higher return on the capital invested in it (5.1%, against −8.3%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Conagra Brands
CAG
3/10
Gross marginFCF marginShare count change
Hormel Foods
HRL
6/10
Revenue growth5-year growthOperating marginNet marginReturn on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | CAG FY26 | HRL FY25 |
|---|---|---|
| Size | ||
| Market cap | $7.0B | $11.5B |
| Revenue | $11.3B | $12.1B |
| Free cash flow | $979M | $534M |
| Net income | −$1.9B | $478M |
| Growth | ||
| Revenue growth | −2.9% | 1.6% |
| 5-year growth | 0.2% | 4.7% |
| Share count change | −0.2% | 0.3% |
| Profitability | ||
| Gross margin | 23.9% | 15.6% |
| Operating margin | −14.4% | 5.9% |
| Net margin | −17.0% | 4.0% |
| FCF margin | 8.7% | 4.4% |
| Return on capital | −8.3% | 5.1% |
| Return on equity | −25.1% | 6.0% |
| Balance sheet | ||
| Net debt | $7.3B | $2.2B |
| Net debt / EBITDA | — | 2.2x |
| Dividends and buybacks | $685M | $633M |
| Valuation & quality | ||
| P/E | — | 33.3x |
| Piotroski F-score | 5 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.