Cal-Maine Foods vs Del Monte
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The short version
- Del Monte is the larger business, with $4.3B of revenue in fiscal 2025 against $2.9B for Cal-Maine Foods.
- Del Monte grew revenue faster (1.0%, against −31.7%).
- Cal-Maine Foods kept more of each dollar of sales as operating profit (12.0% operating margin, against 3.2%).
- Cal-Maine Foods turned more of its sales into free cash flow (11.3% FCF margin, against 4.2%).
- Investors pay more for each dollar of Cal-Maine Foods’s earnings: a P/E of 51.3x against 42.2x for Del Monte.
| Latest fiscal year | CALM · FY26 | DMC · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.9B | $1.4B |
| Revenue | $2.9B | $4.3B |
| Free cash flow | $329M | $181M |
| Net income | $317M | $90.7M |
| Growth | ||
| Revenue growth | −31.7% | 1.0% |
| 5-year growth | 16.6% | 0.6% |
| Share count change | −2.3% | 0.2% |
| Profitability | ||
| Gross margin | 23.1% | 9.2% |
| Operating margin | 12.0% | 3.2% |
| Net margin | 10.9% | 2.1% |
| FCF margin | 11.3% | 4.2% |
| Return on capital | — | 4.5% |
| Return on equity | 12.2% | 4.5% |
| Balance sheet | ||
| Net debt | — | $142M |
| Net debt / EBITDA | — | 0.7x |
| Dividends and buybacks | $232M | $87.2M |
| Valuation & quality | ||
| P/E | 51.3x | 42.2x |
| Piotroski F-score | — | 7 |
Revenue
FY17
CALM $1.1B
DMC $4.1B
FY18
CALM $1.5B
DMC $4.5B
FY19
CALM $1.4B
DMC $4.5B
FY20
CALM $1.4B
DMC $4.2B
FY21
CALM $1.3B
DMC $4.3B
FY22
CALM $1.8B
DMC $4.4B
FY23
CALM $3.1B
DMC $4.3B
FY24
CALM $2.3B
DMC $4.3B
FY25
CALM $4.3B
DMC $4.3B
FY26
CALM $2.9B
DMC —
CALM
DMC
Operating margin
FY17
CALM −12.5%
DMC 3.7%
FY18
CALM 6.7%
DMC 0.9%
FY19
CALM 3.4%
DMC 2.5%
FY20
CALM 0.1%
DMC 1.8%
FY21
CALM −2.0%
DMC 2.6%
FY22
CALM 8.1%
DMC 3.5%
FY23
CALM 30.8%
DMC 1.4%
FY24
CALM 13.4%
DMC 4.6%
FY25
CALM 36.1%
DMC 3.2%
FY26
CALM 12.0%
DMC —
CALM
DMC
Free cash flow
FY17
CALM −$113M
DMC $55.7M
FY18
CALM $181M
DMC $96.1M
FY19
CALM $47.1M
DMC $46.8M
FY20
CALM −$50.6M
DMC $30.6M
FY21
CALM −$68.9M
DMC $30.0M
FY22
CALM $53.8M
DMC $13.7M
FY23
CALM $726M
DMC $120M
FY24
CALM $304M
DMC $131M
FY25
CALM $1.1B
DMC $181M
FY26
CALM $329M
DMC —
CALM
DMC
Return on capital
FY17
CALM −12.1%
DMC 6.0%
FY18
CALM 11.5%
DMC 0.8%
FY19
CALM 3.9%
DMC 3.7%
FY20
CALM —
DMC 3.0%
FY21
CALM —
DMC 4.7%
FY22
CALM —
DMC 5.4%
FY23
CALM —
DMC 1.2%
FY24
CALM —
DMC 7.2%
FY25
CALM —
DMC 4.5%
FY26
CALM —
DMC —
CALM
DMC
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.