What is Campbell's' operating income?

Campbell's' total operating income in 2025 was $1.12 billion, based on the following breakdown: Total Gross Profit: $3.12 billion Total Operating Expenses: $2.00 billion

Campbell's (CPB) Financials

$21.11 -0.66 (-3.03%)

Closing price 06/17/2026 04:00 PM Eastern

Extended Trading

$21.18 +0.07 (+0.31%)

As of 04:42 AM Eastern

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Annual Income Statements for Campbell's

This table shows Campbell's' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/2/2015	7/31/2016	7/30/2017	7/29/2018	7/28/2019	8/2/2020	8/1/2021	7/31/2022	7/30/2023	7/28/2024	8/3/2025
Net Income / (Loss) Attributable to Common Shareholders	666	563	887	261	211	1,628	1,002	757	858	567	602
Consolidated Net Income / (Loss)	666	563	887	261	211	1,628	1,002	757	858	567	602
Net Income / (Loss) Continuing Operations	666	563	924	724	474	592	1,008	757	858	567	602
Total Pre-Tax Income	949	849	1,316	830	625	766	1,336	975	1,128	757	796
Total Operating Income	1,054	960	1,431	1,010	979	1,107	1,545	1,163	1,312	1,000	1,124
Total Gross Profit	2,782	2,928	2,442	2,374	2,693	2,999	2,811	2,627	2,917	2,971	3,119
Total Revenue	8,082	7,961	5,837	6,615	8,107	8,691	8,476	8,562	9,357	9,636	10,253
Operating Revenue	8,082	7,961	5,837	6,615	8,107	8,691	8,476	8,562	9,357	9,636	10,253
Total Cost of Revenue	5,300	5,033	3,395	4,241	5,414	5,692	5,665	5,935	6,440	6,665	7,134
Operating Cost of Revenue	5,300	5,033	3,395	4,241	5,414	5,692	5,665	5,935	6,440	6,665	7,134
Total Operating Expenses	1,728	1,968	1,011	1,364	1,714	1,892	1,266	1,464	1,605	1,971	1,995
Selling, General & Admin Expense	601	575	448	563	610	622	598	617	654	737	674
Marketing Expense	884	852	675	728	842	947	817	734	811	833	924
Research & Development Expense	117	105	93	91	91	93	84	87	92	102	100
Other Operating Expenses / (Income)	24	405	-216	-73	140	221	-254	21	32	261	273
Restructuring Charge	102	31	11	55	31	9.00	21	5.00	16	38	24
Total Other Income / (Expense), net	-105	-111	-115	-180	-354	-341	-209	-188	-184	-243	-328
Interest Expense	108	115	115	183	356	345	210	189	188	249	345
Interest & Investment Income	3.00	4.00	0.00	3.00	2.00	4.00	1.00	1.00	4.00	6.00	17
Income Tax Expense	283	286	392	106	151	174	328	218	270	190	194
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Basic Earnings per Share	$2.13	$1.82	$2.91	$0.87	$0.70	$5.39	$3.31	$2.51	$2.87	$1.90	$2.02
Weighted Average Basic Shares Outstanding	312M	309M	305M	301M	301M	302M	303M	301M	299M	298M	298M
Diluted Earnings per Share	$2.13	$1.81	$2.89	$0.86	$0.70	$5.36	$3.29	$2.51	$2.85	$1.89	$2.01
Weighted Average Diluted Shares Outstanding	313M	311M	307M	302M	302M	304M	305M	302M	301M	300M	300M
Weighted Average Basic & Diluted Shares Outstanding	312.70M	309.30M	304.80M	300M	301.19M	302.27M	301.52M	598.73M	595.89M	596.21M	297.99M
Cash Dividends to Common per Share	$1.25	$1.25	$1.40	$1.40	$1.40	$1.40	$1.46	$1.48	$1.48	$1.48	$1.54

This table shows Campbell's' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	1/26/2025	4/27/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
Net Income / (Loss) Attributable to Common Shareholders	234	203	133	-3.00	218	173	66	145	194	145	124
Consolidated Net Income / (Loss)	234	203	133	-3.00	218	173	66	145	194	145	124
Net Income / (Loss) Continuing Operations	234	203	133	-3.00	218	173	66	145	194	145	124
Total Pre-Tax Income	310	271	182	-6.00	284	247	81	184	256	193	159
Total Operating Income	358	317	248	77	367	327	161	269	336	273	239
Total Gross Profit	788	776	732	675	867	819	728	705	792	717	650
Total Revenue	2,518	2,456	2,369	2,293	2,772	2,685	2,475	2,321	2,677	2,564	2,366
Operating Revenue	2,518	2,456	2,369	2,293	2,772	2,685	2,475	2,321	2,677	2,564	2,366
Total Cost of Revenue	1,730	1,680	1,637	1,618	1,905	1,866	1,747	1,616	1,885	1,847	1,716
Operating Cost of Revenue	1,730	1,680	1,637	1,618	1,905	1,866	1,747	1,616	1,885	1,847	1,716
Total Operating Expenses	430	459	484	598	500	492	567	436	456	444	411
Selling, General & Admin Expense	158	189	208	182	175	165	162	172	167	160	155
Marketing Expense	222	217	206	188	250	256	216	202	253	252	214
Research & Development Expense	24	25	27	26	26	25	23	26	24	22	25
Other Operating Expenses / (Income)	24	26	30	181	43	41	160	29	9.00	7.00	8.00
Restructuring Charge	2.00	2.00	13	21	6.00	5.00	6.00	7.00	3.00	3.00	9.00
Total Other Income / (Expense), net	-48	-46	-66	-83	-83	-80	-80	-85	-80	-80	-80
Interest Expense	49	46	70	84	87	88	85	85	81	82	83
Interest & Investment Income	1.00	0.00	4.00	1.00	4.00	8.00	5.00	-	1.00	2.00	3.00
Income Tax Expense	76	68	49	-3.00	66	74	15	39	62	48	35
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00
Basic Earnings per Share	$0.79	$0.68	$0.45	($0.02)	$0.73	$0.58	$0.22	$0.49	$0.65	$0.49	$0.42
Weighted Average Basic Shares Outstanding	298M	298M	298M	298M	298M	298M	298M	298M	298M	298M	298M
Diluted Earnings per Share	$0.78	$0.68	$0.44	($0.01)	$0.72	$0.58	$0.22	$0.49	$0.65	$0.48	$0.41
Weighted Average Diluted Shares Outstanding	299M	299M	300M	300M	301M	299M	299M	300M	299M	299M	299M
Weighted Average Basic & Diluted Shares Outstanding	298.10M	298.10M	298.55M	596.21M	298.11M	298.18M	298.13M	297.99M	298.13M	298.15M	298.21M
Cash Dividends to Common per Share	$0.37	$0.37	$0.37	-	$0.37	$0.39	$0.39	-	$0.39	$0.39	$0.39

This table details how cash moves in and out of Campbell's' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/2/2015	7/31/2016	7/30/2017	7/29/2018	7/28/2019	8/2/2020	8/1/2021	7/31/2022	7/30/2023	7/28/2024	8/3/2025
Net Change in Cash & Equivalents	21	43	23	-93	-47	680	-790	40	80	-81	24
Net Cash From Operating Activities	1,206	1,491	1,288	1,305	1,398	1,396	1,035	1,181	1,143	1,185	1,131
Net Cash From Continuing Operating Activities	1,206	1,491	1,288	1,305	1,398	1,396	1,035	1,181	1,143	1,185	1,131
Net Income / (Loss) Continuing Operations	666	563	887	261	211	1,628	1,002	757	858	567	602
Consolidated Net Income / (Loss)	666	563	887	261	211	1,628	1,002	757	858	567	602
Depreciation Expense	303	308	318	394	446	328	317	337	387	411	434
Amortization Expense	-	0.00	0.00	42	-	-	-	0.00	0.00	17	0.00
Non-Cash Adjustments To Reconcile Net Income	257	543	-9.00	718	642	-587	-85	149	170	443	425
Changes in Operating Assets and Liabilities, net	-20	77	92	-110	99	27	-199	-62	-272	-253	-330
Net Cash From Investing Activities	-603	-354	-368	-7,197	153	2,272	-158	-230	-340	-3,128	-187
Net Cash From Continuing Investing Activities	-603	-354	-368	-7,197	153	2,272	-158	-230	-340	-3,128	-187
Purchase of Property, Plant & Equipment	-380	-341	-338	-407	-384	-299	-275	-242	-370	-517	-426
Acquisitions	-232	0.00	0.00	-6,781	-47	-11	-2.00	-1.00	-13	-2,646	-144
Divestitures	-	0.00	0.00	10	570	2,578	111	2.00	42	34	379
Other Investing Activities, net	-6.00	-18	-30	-19	14	4.00	8.00	11	1.00	1.00	4.00
Net Cash From Financing Activities	-550	-1,099	-908	5,807	-1,591	-2,987	-1,669	-910	-723	1,863	-919
Net Cash From Continuing Financing Activities	-550	-1,099	-908	5,807	-1,591	-2,987	-1,669	-910	-723	1,863	-919
Repayment of Debt	-312	-8,923	-8,492	-10,057	-6,999	-9,189	-1,501	-1,450	-4,314	-5,699	-3,358
Repurchase of Common Equity	-244	-143	-437	-86	0.00	0.00	-36	-167	-142	-67	-62
Payment of Dividends	-394	-390	-420	-473	-423	-426	-439	-451	-447	-445	-459
Issuance of Debt	400	8,376	8,461	16,446	5,839	6,617	320	1,173	4,177	8,118	2,990
Other Financing Activities, net	-9.00	-19	-20	-23	-8.00	11	-13	-15	3.00	-44	-30
Effect of Exchange Rate Changes	-32	5.00	11	-8.00	-7.00	-1.00	-	-1.00	-	-1.00	-1.00

This table details how cash moves in and out of Campbell's' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	1/26/2025	4/27/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
Net Change in Cash & Equivalents	-98	78	-62	1.00	700	21	-686	-11	36	393	-159
Net Cash From Operating Activities	174	510	213	288	225	512	135	259	224	516	99
Net Cash From Continuing Operating Activities	174	510	213	288	225	512	135	259	224	516	99
Net Income / (Loss) Continuing Operations	234	203	133	-3.00	218	173	66	145	194	145	124
Consolidated Net Income / (Loss)	234	203	133	-3.00	218	173	66	145	194	145	124
Depreciation Expense	96	96	106	113	109	110	109	106	99	102	105
Non-Cash Adjustments To Reconcile Net Income	49	70	86	238	87	80	197	61	47	53	60
Changes in Operating Assets and Liabilities, net	-205	141	-129	-60	-189	149	-237	-53	-116	216	-190
Net Cash From Investing Activities	-137	-119	-2,731	-141	-47	-128	95	-107	-137	-97	-64
Net Cash From Continuing Investing Activities	-137	-119	-2,731	-141	-47	-128	95	-107	-137	-97	-64
Purchase of Property, Plant & Equipment	-143	-120	-113	-141	-110	-101	-85	-130	-127	-100	-70
Divestitures	10	3.00	20	1.00	99	32	223	25	46	4.00	6.00
Net Cash From Financing Activities	-135	-313	2,456	-145	523	-363	-915	-164	-51	-27	-194
Net Cash From Continuing Financing Activities	-135	-313	2,456	-145	523	-363	-915	-164	-51	-27	-194
Repayment of Debt	-1,082	-515	-3,081	-1,021	-1,092	-244	-1,319	-703	-684	-708	-412
Payment of Dividends	-114	-110	-110	-111	-116	-111	-116	-116	-120	-117	-117
Issuance of Debt	1,103	313	5,696	1,006	1,812	-5.00	526	657	788	800	337
Other Financing Activities, net	-14	-	-32	2.00	-27	-1.00	-2.00	-	-11	-	-2.00

This table presents Campbell's' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/2/2015	7/31/2016	7/30/2017	7/29/2018	7/28/2019	8/2/2020	8/1/2021	7/31/2022	7/30/2023	7/28/2024	8/3/2025
Total Assets	8,077	7,837	2,492	14,529	13,148	12,372	11,734	11,892	12,058	15,235	14,896
Total Current Assets	2,093	1,908	37	2,296	1,967	2,385	1,695	1,963	2,061	2,190	2,232
Cash & Equivalents	253	296	37	49	31	859	69	109	189	108	132
Accounts Receivable	647	626	-	563	574	575	595	541	529	630	583
Inventories, net	995	940	-	887	863	871	933	1,246	1,291	1,386	1,424
Other Current Assets	198	46	-	71	71	80	98	67	52	66	93
Plant, Property, & Equipment, net	2,347	2,407	1,644	2,466	2,455	2,368	2,370	2,343	2,398	2,698	2,767
Total Noncurrent Assets	3,637	3,522	811	9,767	8,726	7,619	7,669	7,586	7,599	10,347	9,897
Goodwill	2,344	2,263	811	3,864	4,017	3,986	3,981	3,979	3,965	5,077	4,991
Intangible Assets	1,205	1,152	-	3,664	3,415	3,350	3,239	3,198	3,142	4,716	4,356
Other Noncurrent Operating Assets	88	107	-	189	127	283	449	409	492	554	550
Total Liabilities & Shareholders' Equity	8,077	7,837	0.00	14,529	13,148	12,372	11,734	11,892	12,058	15,235	14,896
Total Liabilities	6,700	6,304	0.00	13,156	12,036	9,803	8,580	8,559	8,395	11,439	10,992
Total Current Liabilities	2,806	2,555	0.00	3,594	3,385	3,075	1,814	2,886	2,222	3,576	2,906
Short-Term Debt	1,543	1,219	-	1,525	1,371	1,202	48	814	191	1,423	762
Accounts Payable	544	610	-	705	814	1,049	1,070	1,334	1,306	1,311	1,332
Accrued Expenses	589	604	-	516	609	693	576	621	592	720	688
Dividends Payable	101	100	-	107	107	107	115	114	113	115	120
Current Deferred & Payable Income Tax Liabilities	29	22	-	10	15	24	5.00	3.00	20	7.00	4.00
Total Noncurrent Liabilities	3,894	3,749	0.00	9,562	8,651	6,728	6,766	5,673	6,173	7,863	8,086
Long-Term Debt	2,539	2,314	-	7,991	7,103	4,994	5,010	3,996	4,498	5,761	6,095
Noncurrent Deferred & Payable Income Tax Liabilities	505	396	-	960	924	914	1,051	1,074	1,067	1,426	1,353
Other Noncurrent Operating Liabilities	850	1,039	-	547	559	820	705	603	608	676	638
Commitments & Contingencies	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,377	1,533	0.00	1,373	1,112	2,569	3,154	3,333	3,663	3,796	3,904
Total Preferred & Common Equity	1,381	1,525	0.00	1,364	1,103	2,563	3,152	3,331	3,661	3,794	3,902
Preferred Stock	0.00	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,381	1,525	0.00	1,364	1,103	2,563	3,152	3,331	3,661	3,794	3,902
Common Stock	351	366	-	361	384	406	426	427	432	449	430
Retained Earnings	1,754	1,927	-	2,224	1,993	3,190	3,742	4,040	4,451	4,569	4,694
Treasury Stock	-556	-664	-	-1,103	-1,076	-1,023	-1,021	-1,138	-1,219	-1,207	-1,207
Accumulated Other Comprehensive Income / (Loss)	-168	-104	-	-118	-198	-10	5.00	2.00	-3.00	-17	-15
Noncontrolling Interest	-4.00	8.00	-	9.00	9.00	6.00	2.00	2.00	2.00	2.00	2.00

This table presents Campbell's' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	7/30/2023	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	1/26/2025	4/27/2025	11/2/2025	2/1/2026	5/3/2026
Total Assets	12,058	12,257	12,106	15,243	15,235	16,112	15,910	14,828	15,179	15,348	15,142
Total Current Assets	2,061	2,239	2,070	2,139	2,190	3,137	3,181	2,226	2,563	2,730	2,559
Cash & Equivalents	189	91	169	107	108	808	829	143	168	561	402
Accounts Receivable	529	726	635	648	630	840	711	668	768	671	552
Inventories, net	1,291	1,340	1,188	1,300	1,386	1,413	1,288	1,294	1,505	1,360	1,451
Other Current Assets	52	82	78	84	66	76	118	121	122	138	154
Plant, Property, & Equipment, net	2,398	2,429	2,470	2,621	2,698	2,684	2,637	2,665	2,744	2,751	2,735
Total Noncurrent Assets	7,599	7,589	7,566	10,483	10,347	10,291	10,092	9,937	9,872	9,867	9,848
Goodwill	3,965	3,960	3,963	5,072	5,077	5,056	4,988	4,991	4,990	4,992	4,993
Intangible Assets	3,142	3,125	3,108	4,875	4,716	4,669	4,535	4,366	4,345	4,335	4,325
Other Noncurrent Operating Assets	492	504	495	536	554	566	569	580	537	540	530
Total Liabilities & Shareholders' Equity	12,058	12,257	12,106	15,243	15,235	16,112	15,910	14,828	15,179	15,348	15,142
Total Liabilities	8,395	8,500	8,255	11,328	11,439	12,268	11,998	10,956	11,220	11,341	11,112
Total Current Liabilities	2,222	2,310	2,056	3,457	3,576	3,465	3,413	2,849	3,130	2,690	2,954
Short-Term Debt	191	206	14	1,427	1,423	1,212	1,179	799	874	428	864
Accounts Payable	1,306	1,368	1,305	1,330	1,311	1,453	1,356	1,297	1,468	1,429	1,361
Accrued Expenses	592	541	615	584	720	622	705	620	651	712	605
Dividends Payable	113	113	113	114	115	114	119	119	118	118	118
Current Deferred & Payable Income Tax Liabilities	20	82	9.00	2.00	7.00	64	0.00	14	19	3.00	6.00
Total Noncurrent Liabilities	6,173	6,190	6,199	7,871	7,863	8,803	8,585	8,107	8,090	8,651	8,158
Long-Term Debt	4,498	4,500	4,506	5,752	5,761	6,705	6,496	6,097	6,098	6,647	6,146
Noncurrent Deferred & Payable Income Tax Liabilities	1,067	1,076	1,068	1,491	1,426	1,425	1,413	1,349	1,380	1,393	1,434
Other Noncurrent Operating Liabilities	608	614	625	628	676	673	676	661	612	611	578
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,663	3,757	3,851	3,915	3,796	3,844	3,912	3,872	3,959	4,007	4,030
Total Preferred & Common Equity	3,661	3,755	3,849	3,913	3,794	3,842	3,910	3,870	3,957	4,005	4,028
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	3,661	3,755	3,849	3,913	3,794	3,842	3,910	3,870	3,957	4,005	4,028
Common Stock	432	400	419	433	449	405	418	427	391	408	417
Retained Earnings	4,451	4,573	4,665	4,685	4,569	4,660	4,716	4,665	4,769	4,796	4,803
Treasury Stock	-1,219	-1,212	-	-1,190	-1,207	-1,210	-	-1,207	-1,189	-1,188	-1,183
Accumulated Other Comprehensive Income / (Loss)	-3.00	-6.00	-23	-15	-17	-13	-16	-15	-14	-11	-9.00
Noncontrolling Interest	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00	2.00

This table displays calculated financial ratios and metrics derived from Campbell's' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	8/2/2015	7/31/2016	7/30/2017	7/29/2018	7/28/2019	8/2/2020	8/1/2021	7/31/2022	7/30/2023	7/28/2024	8/3/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.25%	-1.50%	-26.68%	13.33%	22.55%	7.20%	-2.47%	1.01%	9.29%	2.98%	6.40%
EBITDA Growth	-13.68%	-6.56%	37.93%	-17.32%	-1.45%	0.70%	29.76%	-19.44%	13.27%	-15.95%	9.10%
EBIT Growth	-16.81%	-8.92%	49.06%	-29.42%	-3.07%	13.07%	39.57%	-24.72%	12.81%	-23.78%	12.40%
NOPAT Growth	-13.41%	-13.94%	57.83%	-12.31%	-15.72%	15.23%	36.25%	-22.54%	10.52%	-24.95%	13.49%
Net Income Growth	-22.11%	-15.47%	57.55%	-70.58%	-19.16%	671.56%	-38.45%	-24.45%	13.34%	-33.92%	6.17%
EPS Growth	-22.26%	-15.02%	59.67%	-70.24%	-18.60%	665.71%	-38.62%	-23.71%	13.55%	-33.68%	6.35%
Operating Cash Flow Growth	34.15%	23.63%	-13.62%	1.32%	7.13%	-0.14%	-25.86%	14.11%	-3.22%	3.67%	-4.56%
Free Cash Flow Firm Growth	164.86%	16.74%	218.53%	-264.63%	119.67%	30.35%	-36.22%	10.02%	-14.12%	-325.53%	155.46%
Invested Capital Growth	-3.28%	-8.23%	-49.59%	265.21%	-4.07%	-6.84%	3.06%	-1.33%	1.57%	32.76%	-2.17%
Revenue Q/Q Growth	-1.93%	-0.08%	-26.24%	13.46%	20.59%	3.92%	-2.70%	1.35%	0.87%	2.39%	0.27%
EBITDA Q/Q Growth	-16.54%	-5.93%	41.39%	-13.47%	-9.24%	5.44%	14.87%	-13.74%	7.53%	-10.53%	13.47%
EBIT Q/Q Growth	-20.15%	-7.69%	55.04%	-21.34%	-10.43%	8.21%	18.75%	-17.17%	8.43%	-16.32%	20.60%
NOPAT Q/Q Growth	-18.37%	-13.88%	80.91%	-20.20%	-10.98%	9.84%	19.95%	-17.73%	8.01%	-16.20%	21.74%
Net Income Q/Q Growth	-19.95%	-14.83%	81.76%	-46.19%	-32.59%	6.13%	25.25%	-20.23%	9.30%	-23.27%	32.60%
EPS Q/Q Growth	-19.62%	-15.02%	80.63%	-45.91%	-32.04%	6.14%	25.10%	-19.81%	8.78%	-23.17%	33.11%
Operating Cash Flow Q/Q Growth	8.94%	3.11%	-0.23%	0.31%	-2.17%	1.53%	-10.16%	-5.90%	14.53%	5.62%	-2.50%
Free Cash Flow Firm Q/Q Growth	-12.00%	19.00%	259.07%	-4.69%	-45.61%	-44.41%	-16.97%	-2.93%	16.62%	0.42%	3.11%
Invested Capital Q/Q Growth	1.28%	-4.08%	-47.54%	-19.67%	-13.64%	-1.58%	3.16%	1.10%	0.47%	-1.03%	0.05%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	34.42%	36.78%	41.84%	35.89%	33.22%	34.51%	33.16%	30.68%	31.17%	30.83%	30.42%
EBITDA Margin	16.79%	15.93%	29.96%	21.86%	17.58%	16.51%	21.97%	17.52%	18.16%	14.82%	15.20%
Operating Margin	13.04%	12.06%	24.52%	15.27%	12.08%	12.74%	18.23%	13.58%	14.02%	10.38%	10.96%
EBIT Margin	13.04%	12.06%	24.52%	15.27%	12.08%	12.74%	18.23%	13.58%	14.02%	10.38%	10.96%
Profit (Net Income) Margin	8.24%	7.07%	15.20%	3.95%	2.60%	18.73%	11.82%	8.84%	9.17%	5.88%	5.87%
Tax Burden Percent	70.18%	66.31%	67.40%	31.45%	33.76%	212.53%	75.00%	77.64%	76.06%	74.90%	75.63%
Interest Burden Percent	90.04%	88.44%	91.96%	82.18%	63.84%	69.20%	86.47%	83.83%	85.98%	75.70%	70.82%
Effective Tax Rate	29.82%	33.69%	29.79%	12.77%	24.16%	22.72%	24.55%	22.36%	23.94%	25.10%	24.37%
Return on Invested Capital (ROIC)	13.71%	12.51%	27.43%	15.43%	8.45%	10.30%	14.33%	11.01%	12.15%	7.78%	7.82%
ROIC Less NNEP Spread (ROIC-NNEP)	11.82%	10.48%	23.37%	3.09%	1.41%	22.24%	11.22%	8.06%	9.18%	4.69%	4.29%
Return on Net Nonoperating Assets (RNNOA)	30.99%	26.18%	88.29%	22.59%	8.53%	78.16%	20.69%	12.33%	12.38%	7.43%	7.81%
Return on Equity (ROE)	44.70%	38.69%	115.72%	38.02%	16.98%	88.45%	35.02%	23.34%	24.53%	15.20%	15.64%
Cash Return on Invested Capital (CROIC)	17.04%	21.10%	93.37%	-98.59%	12.61%	17.38%	11.32%	12.35%	10.59%	-20.37%	10.01%
Operating Return on Assets (OROA)	13.02%	12.06%	27.71%	11.87%	7.07%	8.68%	12.82%	9.85%	10.96%	7.33%	7.46%
Return on Assets (ROA)	8.23%	7.08%	17.17%	3.07%	1.52%	12.76%	8.31%	6.41%	7.16%	4.15%	4.00%
Return on Common Equity (ROCE)	44.94%	38.64%	115.12%	37.77%	16.86%	88.09%	34.97%	23.32%	24.51%	15.20%	15.63%
Return on Equity Simple (ROE_SIMPLE)	48.23%	36.92%	0.00%	19.13%	19.13%	63.52%	31.79%	22.73%	23.44%	14.94%	0.00%
Net Operating Profit after Tax (NOPAT)	740	637	1,005	881	742	856	1,166	903	998	749	850
NOPAT Margin	9.15%	8.00%	17.21%	13.32%	9.16%	9.84%	13.75%	10.55%	10.67%	7.77%	8.29%
Net Nonoperating Expense Percent (NNEP)	1.89%	2.03%	4.07%	12.34%	7.05%	-11.95%	3.10%	2.94%	2.97%	3.08%	3.53%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-	-	-	7.90%
Cost of Revenue to Revenue	65.58%	63.22%	58.16%	64.11%	66.78%	65.49%	66.84%	69.32%	68.83%	69.17%	69.58%
SG&A Expenses to Revenue	7.44%	7.22%	7.68%	8.51%	7.52%	7.16%	7.06%	7.21%	6.99%	7.65%	6.57%
R&D to Revenue	1.45%	1.32%	1.59%	1.38%	1.12%	1.07%	0.99%	1.02%	0.98%	1.06%	0.98%
Operating Expenses to Revenue	21.38%	24.72%	17.32%	20.62%	21.14%	21.77%	14.94%	17.10%	17.15%	20.45%	19.46%
Earnings before Interest and Taxes (EBIT)	1,054	960	1,431	1,010	979	1,107	1,545	1,163	1,312	1,000	1,124
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,357	1,268	1,749	1,446	1,425	1,435	1,862	1,500	1,699	1,428	1,558
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	8.45	9.81	0.00	7.44	9.57	5.15	3.82	4.18	3.64	3.68	2.47
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	1.44	1.88	2.19	1.53	1.30	1.52	1.42	1.63	1.42	1.45	0.94
Price to Earnings (P/E)	17.52	26.58	14.42	38.87	50.00	8.10	12.01	18.39	15.53	24.62	16.01
Dividend Yield	3.32%	2.57%	3.32%	4.15%	4.00%	3.21%	3.68%	3.19%	3.31%	3.96%	4.76%
Earnings Yield	5.71%	3.76%	6.93%	2.57%	2.00%	12.34%	8.33%	5.44%	6.44%	4.06%	6.25%
Enterprise Value to Invested Capital (EV/IC)	2.92	3.74	5.20	2.19	2.21	2.31	2.06	2.29	2.15	1.91	1.52
Enterprise Value to Revenue (EV/Rev)	1.92	2.29	2.19	2.97	2.34	2.13	2.01	2.18	1.91	2.18	1.60
Enterprise Value to EBITDA (EV/EBITDA)	11.42	14.36	7.29	13.57	13.34	12.92	9.14	12.42	10.49	14.73	10.50
Enterprise Value to EBIT (EV/EBIT)	14.70	18.97	8.91	19.43	19.41	16.74	11.02	16.02	13.59	21.04	14.56
Enterprise Value to NOPAT (EV/NOPAT)	20.94	28.60	12.69	22.27	25.59	21.67	14.60	20.63	17.86	28.08	19.25
Enterprise Value to Operating Cash Flow (EV/OCF)	12.85	12.21	9.90	15.03	13.59	13.28	16.45	15.77	15.60	17.75	14.47
Enterprise Value to Free Cash Flow (EV/FCFF)	16.84	16.96	3.73	0.00	17.16	12.84	18.49	18.39	20.49	0.00	15.04
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	2.96	2.30	0.00	6.93	7.62	2.41	1.60	1.44	1.28	1.89	1.76
Long-Term Debt to Equity	1.84	1.51	0.00	5.82	6.39	1.94	1.59	1.20	1.23	1.52	1.56
Financial Leverage	2.62	2.50	3.78	7.32	6.07	3.51	1.84	1.53	1.35	1.58	1.82
Leverage Ratio	5.43	5.47	6.74	12.40	11.14	6.93	4.21	3.64	3.42	3.66	3.91
Compound Leverage Factor	4.89	4.84	6.20	10.19	7.11	4.80	3.64	3.05	2.94	2.77	2.77
Debt to Total Capital	74.78%	69.74%	0.00%	87.39%	88.40%	70.69%	61.59%	59.07%	56.14%	65.43%	63.72%
Short-Term Debt to Total Capital	28.27%	24.06%	0.00%	14.01%	14.30%	13.71%	0.58%	10.00%	2.29%	12.96%	7.08%
Long-Term Debt to Total Capital	46.51%	45.68%	0.00%	73.39%	74.10%	56.98%	61.01%	49.07%	53.86%	52.47%	56.64%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-0.07%	0.16%	0.00%	0.08%	0.09%	0.07%	0.02%	0.02%	0.02%	0.02%	0.02%
Common Equity to Total Capital	25.30%	30.10%	0.00%	12.53%	11.51%	29.24%	38.38%	40.91%	43.83%	34.55%	36.26%
Debt to EBITDA	3.01	2.79	0.00	6.58	5.95	4.32	2.72	3.21	2.76	5.03	4.40
Net Debt to EBITDA	2.82	2.55	0.00	6.55	5.92	3.72	2.68	3.13	2.65	4.96	4.32
Long-Term Debt to EBITDA	1.87	1.82	0.00	5.53	4.98	3.48	2.69	2.66	2.65	4.03	3.91
Debt to NOPAT	5.52	5.55	0.00	10.80	11.41	7.24	4.34	5.33	4.70	9.59	8.07
Net Debt to NOPAT	5.18	5.08	0.00	10.75	11.37	6.24	4.28	5.21	4.51	9.45	7.91
Long-Term Debt to NOPAT	3.43	3.63	0.00	9.07	9.57	5.84	4.30	4.43	4.51	7.69	7.17
Altman Z-Score	2.67	3.09	0.00	1.25	1.47	2.10	2.43	2.40	2.59	1.89	1.85
Noncontrolling Interest Sharing Ratio	-0.54%	0.14%	0.52%	0.66%	0.72%	0.41%	0.14%	0.06%	0.06%	0.05%	0.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.75	0.75	0.00	0.64	0.58	0.78	0.93	0.68	0.93	0.61	0.77
Quick Ratio	0.32	0.36	0.00	0.17	0.18	0.47	0.37	0.23	0.32	0.21	0.25
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	920	1,074	3,420	-5,630	1,107	1,444	921	1,013	870	-1,962	1,088
Operating Cash Flow to CapEx	330.41%	443.75%	381.07%	320.64%	364.06%	466.89%	376.36%	488.02%	308.92%	229.21%	265.49%
Free Cash Flow to Firm to Interest Expense	8.52	9.34	29.74	-30.77	3.11	4.18	4.38	5.36	4.63	-7.88	3.15
Operating Cash Flow to Interest Expense	11.17	12.97	11.20	7.13	3.93	4.05	4.93	6.25	6.08	4.76	3.28
Operating Cash Flow Less CapEx to Interest Expense	7.79	10.04	8.26	4.91	2.85	3.18	3.62	4.97	4.11	2.68	2.04
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.00	1.00	1.13	0.78	0.59	0.68	0.70	0.72	0.78	0.71	0.68
Accounts Receivable Turnover	12.27	12.51	0.00	0.00	14.26	15.13	14.49	15.07	17.49	16.63	16.91
Inventory Turnover	5.27	5.20	0.00	0.00	6.19	6.57	6.28	5.45	5.08	4.98	5.08
Fixed Asset Turnover	3.47	3.35	2.88	3.22	3.29	3.60	3.58	3.63	3.95	3.78	3.75
Accounts Payable Turnover	9.90	8.72	0.00	0.00	7.13	6.11	5.35	4.94	4.88	5.09	5.40
Days Sales Outstanding (DSO)	29.74	29.18	0.00	0.00	25.60	24.13	25.19	24.21	20.87	21.95	21.59
Days Inventory Outstanding (DIO)	69.25	70.16	0.00	0.00	58.99	55.60	58.12	67.00	71.89	73.30	71.88
Days Payable Outstanding (DPO)	36.88	41.84	0.00	0.00	51.20	59.73	68.26	73.92	74.81	71.66	67.61
Cash Conversion Cycle (CCC)	62.11	57.50	0.00	0.00	33.38	19.99	15.04	17.30	17.95	23.59	25.86
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	5,307	4,870	2,455	8,966	8,601	8,013	8,258	8,148	8,276	10,987	10,749
Invested Capital Turnover	1.50	1.56	1.59	1.16	0.92	1.05	1.04	1.04	1.14	1.00	0.94
Increase / (Decrease) in Invested Capital	-180	-437	-2,415	6,511	-365	-588	245	-110	128	2,711	-238
Enterprise Value (EV)	15,492	18,209	12,755	19,620	19,003	18,536	17,023	18,628	17,826	21,035	16,366
Market Capitalization	11,667	14,964	12,792	10,144	10,551	13,193	12,032	13,925	13,324	13,957	9,639
Book Value per Share	$4.45	$4.94	$0.00	$4.54	$3.66	$8.48	$10.40	$11.08	$12.28	$12.71	$13.09
Tangible Book Value per Share	($6.98)	($6.12)	($2.68)	($20.50)	($21.02)	($15.80)	($13.42)	($12.80)	($11.56)	($20.09)	($18.26)
Total Capital	5,459	5,066	0.00	10,889	9,586	8,765	8,212	8,143	8,352	10,980	10,761
Total Debt	4,082	3,533	0.00	9,516	8,474	6,196	5,058	4,810	4,689	7,184	6,857
Total Long-Term Debt	2,539	2,314	0.00	7,991	7,103	4,994	5,010	3,996	4,498	5,761	6,095
Net Debt	3,829	3,237	-37	9,467	8,443	5,337	4,989	4,701	4,500	7,076	6,725
Capital Expenditures (CapEx)	365	336	338	407	384	299	275	242	370	517	426
Debt-free, Cash-free Net Working Capital (DFCFNWC)	577	276	0.00	178	-78	-347	-140	-218	-159	-71	-44
Debt-free Net Working Capital (DFNWC)	830	572	37	227	-47	512	-71	-109	30	37	88
Net Working Capital (NWC)	-713	-647	37	-1,298	-1,418	-690	-119	-923	-161	-1,386	-674
Net Nonoperating Expense (NNE)	74	74	118	620	531	-772	164	146	140	182	248
Net Nonoperating Obligations (NNO)	3,930	3,337	2,455	7,593	7,489	5,444	5,104	4,815	4,613	7,191	6,845
Total Depreciation and Amortization (D&A)	303	308	318	436	446	328	317	337	387	428	434
Debt-free, Cash-free Net Working Capital to Revenue	7.14%	3.47%	0.00%	2.69%	-0.96%	-3.99%	-1.65%	-2.55%	-1.70%	-0.74%	-0.43%
Debt-free Net Working Capital to Revenue	10.27%	7.19%	0.63%	3.43%	-0.58%	5.89%	-0.84%	-1.27%	0.32%	0.38%	0.86%
Net Working Capital to Revenue	-8.82%	-8.13%	0.63%	-19.62%	-17.49%	-7.94%	-1.40%	-10.78%	-1.72%	-14.38%	-6.57%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.21	$1.82	$2.91	$0.87	$0.70	$5.39	$3.31	$2.51	$2.87	$1.90	$2.02
Adjusted Weighted Average Basic Shares Outstanding	312M	309M	305M	301M	301M	302M	303M	301M	299M	298M	298M
Adjusted Diluted Earnings per Share	$2.21	$1.81	$2.89	$0.86	$0.70	$5.36	$3.29	$2.51	$2.85	$1.89	$2.01
Adjusted Weighted Average Diluted Shares Outstanding	313M	311M	307M	302M	302M	304M	305M	302M	301M	300M	300M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	309.78M	307.88M	300.53M	300.66M	301.19M	302.27M	301.52M	598.73M	595.89M	596.21M	297.99M
Normalized Net Operating Profit after Tax (NOPAT)	811	657	1,012	929	766	862	1,182	907	1,010	777	868
Normalized NOPAT Margin	10.04%	8.25%	17.35%	14.04%	9.45%	9.92%	13.94%	10.59%	10.80%	8.07%	8.47%
Pre Tax Income Margin	11.74%	10.66%	22.55%	12.55%	7.71%	8.81%	15.76%	11.39%	12.06%	7.86%	7.76%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	9.76	8.35	12.44	5.52	2.75	3.21	7.36	6.15	6.98	4.02	3.26
NOPAT to Interest Expense	6.85	5.54	8.74	4.81	2.09	2.48	5.55	4.78	5.31	3.01	2.46
EBIT Less CapEx to Interest Expense	6.38	5.43	9.50	3.30	1.67	2.34	6.05	4.87	5.01	1.94	2.02
NOPAT Less CapEx to Interest Expense	3.47	2.61	5.80	2.59	1.01	1.61	4.24	3.50	3.34	0.93	1.23
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	59.16%	69.27%	47.35%	181.23%	200.47%	26.17%	43.81%	59.58%	52.10%	78.48%	76.25%
Augmented Payout Ratio	95.80%	94.67%	96.62%	214.18%	200.47%	26.17%	47.41%	81.64%	68.65%	90.30%	86.54%

This table displays calculated financial ratios and metrics derived from Campbell's' official financial filings.

Metric	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Period end date	10/29/2023	1/28/2024	4/28/2024	7/28/2024	10/27/2024	1/26/2025	4/27/2025	8/3/2025	11/2/2025	2/1/2026	5/3/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	298,134,245.00	298,146,488.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	298,134,245.00	298,146,488.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	0.49	0.42
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-2.21%	-1.17%	6.28%	10.88%	10.09%	9.32%	4.47%	1.22%	-3.43%	-	-4.40%
EBITDA Growth	-13.85%	-5.06%	-2.21%	-49.33%	4.85%	5.81%	-23.73%	97.37%	-8.61%	-	27.41%
EBIT Growth	-17.89%	-9.43%	-2.36%	-71.69%	2.51%	3.15%	-35.08%	249.35%	-8.45%	-	48.45%
NOPAT Growth	-18.61%	-10.81%	-7.24%	-73.62%	4.25%	-3.55%	-27.61%	293.29%	-9.61%	-	42.08%
Net Income Growth	-21.21%	-12.50%	-16.88%	-101.78%	-6.84%	-14.78%	-50.38%	4,933.33%	-11.01%	-	87.88%
EPS Growth	-21.21%	-11.69%	-16.98%	-101.79%	-7.69%	-14.71%	-50.00%	5,000.00%	-9.72%	-	86.36%
Operating Cash Flow Growth	-23.35%	0.99%	14.52%	28.00%	29.31%	0.39%	-36.62%	-10.07%	-0.44%	-	-26.67%
Free Cash Flow Firm Growth	-75.29%	-82.46%	-15,531.86%	-3,582.34%	-2,707.08%	-4,540.93%	118.20%	116.94%	119.16%	-	-64.28%
Invested Capital Growth	2.19%	2.33%	34.77%	32.76%	30.43%	28.64%	-3.22%	-2.17%	-1.68%	-	0.11%
Revenue Q/Q Growth	21.76%	-2.46%	-3.54%	-3.21%	20.89%	-3.14%	-7.82%	-6.22%	15.34%	-	-7.72%
EBITDA Q/Q Growth	21.07%	-9.03%	-14.29%	-46.33%	150.53%	-8.19%	-38.22%	38.89%	16.00%	-	-8.27%
EBIT Q/Q Growth	31.62%	-11.45%	-21.77%	-68.95%	376.62%	-10.90%	-50.76%	67.08%	24.91%	-	-12.45%
NOPAT Q/Q Growth	32.27%	-12.13%	-23.68%	-70.26%	422.66%	-18.70%	-42.72%	61.59%	20.12%	-	-9.12%
Net Income Q/Q Growth	38.46%	-13.25%	-34.48%	-102.26%	7,366.67%	-20.64%	-61.85%	119.70%	33.79%	-	-14.48%
EPS Q/Q Growth	39.29%	-12.82%	-35.29%	-102.27%	7,300.00%	-19.44%	-62.07%	122.73%	32.65%	-	-14.58%
Operating Cash Flow Q/Q Growth	-22.67%	193.10%	-58.24%	35.21%	-21.88%	127.56%	-73.63%	91.85%	-13.51%	-	-80.81%
Free Cash Flow Firm Q/Q Growth	15.64%	-45.08%	-5,636.33%	0.96%	13.43%	6.45%	122.69%	-7.83%	-2.08%	-	-33.47%
Invested Capital Q/Q Growth	2.53%	-2.00%	33.51%	-1.03%	0.73%	-3.35%	0.45%	0.05%	1.23%	-	1.10%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	31.29%	31.60%	30.90%	29.44%	31.28%	30.50%	29.41%	30.37%	29.59%	-	27.47%
EBITDA Margin	18.03%	16.82%	14.94%	8.29%	17.17%	16.28%	10.91%	16.16%	16.25%	-	14.54%
Operating Margin	14.22%	12.91%	10.47%	3.36%	13.24%	12.18%	6.51%	11.59%	12.55%	-	10.10%
EBIT Margin	14.22%	12.91%	10.47%	3.36%	13.24%	12.18%	6.51%	11.59%	12.55%	-	10.10%
Profit (Net Income) Margin	9.29%	8.27%	5.61%	-0.13%	7.86%	6.44%	2.67%	6.25%	7.25%	-	5.24%
Tax Burden Percent	75.48%	74.91%	73.08%	50.00%	76.76%	70.04%	81.48%	78.80%	75.78%	-	77.99%
Interest Burden Percent	86.59%	85.49%	73.39%	-7.79%	77.38%	75.54%	50.31%	68.40%	76.19%	-	66.53%
Effective Tax Rate	24.52%	25.09%	26.92%	0.00%	23.24%	29.96%	18.52%	21.20%	24.22%	-	22.01%
Return on Invested Capital (ROIC)	11.89%	10.90%	7.45%	2.35%	10.28%	9.08%	4.96%	8.62%	8.80%	-	7.28%
ROIC Less NNEP Spread (ROIC-NNEP)	11.13%	10.14%	6.63%	1.39%	9.22%	8.08%	4.03%	7.66%	7.95%	-	6.36%
Return on Net Nonoperating Assets (RNNOA)	14.73%	12.23%	10.46%	2.20%	14.49%	11.71%	7.28%	13.97%	14.41%	-	10.94%
Return on Equity (ROE)	26.62%	23.13%	17.91%	4.55%	24.77%	20.79%	12.25%	22.58%	23.21%	-	18.22%
Cash Return on Invested Capital (CROIC)	8.98%	8.74%	-20.38%	-20.37%	-18.63%	-17.15%	9.66%	10.01%	9.19%	-	7.87%
Operating Return on Assets (OROA)	10.82%	9.94%	7.21%	2.37%	9.23%	8.80%	4.42%	7.89%	8.15%	-	6.69%
Return on Assets (ROA)	7.07%	6.37%	3.87%	-0.09%	5.48%	4.65%	1.81%	4.25%	4.71%	-	3.47%
Return on Common Equity (ROCE)	26.61%	23.12%	17.90%	4.55%	24.76%	20.78%	12.24%	22.57%	23.20%	-	18.21%
Return on Equity Simple (ROE_SIMPLE)	21.17%	19.90%	18.89%	0.00%	14.34%	13.32%	11.73%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	270	237	181	54	282	229	131	212	255	205	186
NOPAT Margin	10.73%	9.67%	7.65%	2.35%	10.16%	8.53%	5.30%	9.13%	9.51%	-	7.88%
Net Nonoperating Expense Percent (NNEP)	0.76%	0.77%	0.82%	0.96%	1.07%	1.00%	0.93%	0.95%	0.86%	-	0.92%
Return On Investment Capital (ROIC_SIMPLE)	-	2.84%	-	-	-	1.98%	1.22%	1.97%	2.33%	1.85%	1.69%
Cost of Revenue to Revenue	68.71%	68.40%	69.10%	70.56%	68.72%	69.50%	70.59%	69.63%	70.41%	-	72.53%
SG&A Expenses to Revenue	6.27%	7.70%	8.78%	7.94%	6.31%	6.15%	6.55%	7.41%	6.24%	-	6.55%
R&D to Revenue	0.95%	1.02%	1.14%	1.13%	0.94%	0.93%	0.93%	1.12%	0.90%	-	1.06%
Operating Expenses to Revenue	17.08%	18.69%	20.43%	26.08%	18.04%	18.32%	22.91%	18.79%	17.03%	-	17.37%
Earnings before Interest and Taxes (EBIT)	358	317	248	77	367	327	161	269	336	273	239
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	454	413	354	190	476	437	270	375	435	375	344
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.11	3.33	3.39	3.68	3.65	2.97	2.80	2.47	2.24	-	1.53
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Price to Revenue (P/Rev)	1.25	1.38	1.41	1.45	1.42	1.15	1.06	0.94	0.87	-	0.62
Price to Earnings (P/E)	14.67	16.74	17.94	24.62	25.47	22.30	23.83	16.01	15.30	-	10.17
Dividend Yield	3.78%	3.44%	3.33%	3.96%	3.93%	4.80%	4.19%	4.76%	5.26%	-	7.53%
Earnings Yield	6.82%	5.97%	5.57%	4.06%	3.93%	4.48%	4.20%	6.25%	6.53%	-	9.84%
Enterprise Value to Invested Capital (EV/IC)	1.92	2.07	1.83	1.91	1.91	1.73	1.64	1.52	1.44	-	1.19
Enterprise Value to Revenue (EV/Rev)	1.75	1.85	2.16	2.18	2.14	1.83	1.72	1.60	1.54	-	1.29
Enterprise Value to EBITDA (EV/EBITDA)	10.01	10.71	12.74	14.73	14.75	12.68	12.80	10.50	10.32	-	8.37
Enterprise Value to EBIT (EV/EBIT)	13.19	14.30	17.02	21.04	20.95	18.12	18.86	14.56	14.32	-	11.45
Enterprise Value to NOPAT (EV/NOPAT)	17.39	18.94	22.75	28.08	27.80	24.59	25.17	19.25	19.03	-	14.92
Enterprise Value to Operating Cash Flow (EV/OCF)	14.94	15.69	18.12	17.75	17.11	14.92	15.15	14.47	13.85	-	11.65
Enterprise Value to Free Cash Flow (EV/FCFF)	21.59	23.92	0.00	0.00	0.00	0.00	16.66	15.04	15.52	-	15.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.25	1.17	1.83	1.89	2.06	1.96	1.78	1.76	1.76	-	1.74
Long-Term Debt to Equity	1.20	1.17	1.47	1.52	1.74	1.66	1.57	1.56	1.54	-	1.53
Financial Leverage	1.32	1.21	1.58	1.58	1.57	1.45	1.81	1.82	1.81	-	1.72
Leverage Ratio	3.38	3.23	3.64	3.66	3.73	3.61	3.86	3.91	4.01	-	3.79
Compound Leverage Factor	2.93	2.76	2.67	-0.29	2.89	2.73	1.94	2.68	3.06	-	2.52
Debt to Total Capital	55.61%	54.00%	64.71%	65.43%	67.32%	66.24%	64.04%	63.72%	63.78%	-	63.50%
Short-Term Debt to Total Capital	2.43%	0.17%	12.86%	12.96%	10.31%	10.18%	7.42%	7.08%	8.00%	-	7.83%
Long-Term Debt to Total Capital	53.17%	53.83%	51.85%	52.47%	57.01%	56.06%	56.62%	56.64%	55.79%	-	55.67%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Noncontrolling Interests to Total Capital	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	-	0.02%
Common Equity to Total Capital	44.37%	45.98%	35.27%	34.55%	32.67%	33.74%	35.94%	36.26%	36.20%	-	36.49%
Debt to EBITDA	2.89	2.82	4.50	5.03	5.52	5.27	5.02	4.40	4.60	-	4.58
Net Debt to EBITDA	2.84	2.71	4.43	4.96	4.96	4.70	4.92	4.32	4.49	-	4.32
Long-Term Debt to EBITDA	2.77	2.81	3.60	4.03	4.68	4.46	4.44	3.91	4.02	-	4.02
Debt to NOPAT	5.03	4.98	8.03	9.59	10.41	10.22	9.88	8.07	8.48	-	8.18
Net Debt to NOPAT	4.93	4.80	7.91	9.45	9.35	9.12	9.67	7.91	8.27	-	7.71
Long-Term Debt to NOPAT	4.81	4.97	6.44	7.69	8.82	8.65	8.73	7.17	7.41	-	7.17
Altman Z-Score	2.19	2.33	1.70	1.69	1.76	1.68	1.71	1.66	1.61	-	1.45
Noncontrolling Interest Sharing Ratio	0.06%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	0.05%	-	0.05%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.97	1.01	0.62	0.61	0.91	0.93	0.78	0.77	0.82	-	0.87
Quick Ratio	0.35	0.39	0.22	0.21	0.48	0.45	0.28	0.25	0.30	-	0.32
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	88	48	-2,683	-2,657	-2,300	-2,152	488	450	441	262	174
Operating Cash Flow to CapEx	121.68%	425.00%	188.50%	204.26%	204.55%	506.93%	158.82%	199.23%	176.38%	-	141.43%
Free Cash Flow to Firm to Interest Expense	1.80	1.05	-38.33	-31.63	-26.44	-24.45	5.74	5.29	5.44	-	2.10
Operating Cash Flow to Interest Expense	3.55	11.09	3.04	3.43	2.59	5.82	1.59	3.05	2.77	-	1.19
Operating Cash Flow Less CapEx to Interest Expense	0.63	8.48	1.43	1.75	1.32	4.67	0.59	1.52	1.20	-	0.35
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.76	0.77	0.69	0.71	0.70	0.72	0.68	0.68	0.65	-	0.66
Accounts Receivable Turnover	12.75	15.05	16.01	16.63	12.63	15.04	15.54	16.91	12.63	-	16.28
Inventory Turnover	4.76	5.23	5.01	4.98	4.97	5.68	5.50	5.08	4.88	-	5.15
Fixed Asset Turnover	3.92	3.87	3.78	3.78	3.87	3.96	3.87	3.75	3.74	-	3.68
Accounts Payable Turnover	4.57	4.77	4.81	5.09	4.85	5.28	5.43	5.40	4.87	-	5.32
Days Sales Outstanding (DSO)	28.63	24.25	22.81	21.95	28.90	24.28	23.49	21.59	28.89	-	22.43
Days Inventory Outstanding (DIO)	76.67	69.73	72.90	73.30	73.45	64.31	66.34	71.88	74.86	-	70.92
Days Payable Outstanding (DPO)	79.91	76.60	75.81	71.66	75.27	69.12	67.18	67.61	74.93	-	68.67
Cash Conversion Cycle (CCC)	25.39	17.39	19.89	23.59	27.08	19.47	22.64	25.86	28.81	-	24.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	8,485	8,315	11,101	10,987	11,067	10,696	10,744	10,749	10,881	10,639	10,756
Invested Capital Turnover	1.11	1.13	0.97	1.00	1.01	1.06	0.94	0.94	0.93	-	0.92
Increase / (Decrease) in Invested Capital	182	189	2,864	2,711	2,582	2,381	-357	-238	-186	-57	12
Enterprise Value (EV)	16,280	17,180	20,335	21,035	21,143	18,468	17,576	16,366	15,651	-	12,791
Market Capitalization	11,663	12,827	13,261	13,957	14,032	11,620	10,821	9,639	8,845	-	6,181
Book Value per Share	$12.60	$12.91	$13.13	$12.71	$12.89	$13.12	$12.98	$13.09	$13.28	$13.43	$13.51
Tangible Book Value per Share	($11.18)	($10.81)	($20.24)	($20.09)	($19.73)	($18.83)	($18.40)	($18.26)	($18.05)	($17.85)	($17.74)
Total Capital	8,463	8,371	11,094	10,980	11,761	11,587	10,768	10,761	10,931	11,082	11,040
Total Debt	4,706	4,520	7,179	7,184	7,917	7,675	6,896	6,857	6,972	7,075	7,010
Total Long-Term Debt	4,500	4,506	5,752	5,761	6,705	6,496	6,097	6,095	6,098	6,647	6,146
Net Debt	4,615	4,351	7,072	7,076	7,109	6,846	6,753	6,725	6,804	6,514	6,608
Capital Expenditures (CapEx)	143	120	113	141	110	101	85	130	127	100	70
Debt-free, Cash-free Net Working Capital (DFCFNWC)	44	-141	2.00	-71	76	118	33	-44	139	-93	67
Debt-free Net Working Capital (DFNWC)	135	28	109	37	884	947	176	88	307	468	469
Net Working Capital (NWC)	-71	14	-1,318	-1,386	-328	-232	-623	-674	-567	40	-395
Net Nonoperating Expense (NNE)	36	34	48	57	64	56	65	67	61	60	62
Net Nonoperating Obligations (NNO)	4,728	4,464	7,186	7,191	7,223	6,784	6,872	6,845	6,922	6,632	6,726
Total Depreciation and Amortization (D&A)	96	96	106	113	109	110	109	106	99	102	105
Debt-free, Cash-free Net Working Capital to Revenue	0.47%	-1.52%	0.02%	-0.74%	0.77%	1.17%	0.32%	-0.43%	1.37%	-	0.67%
Debt-free Net Working Capital to Revenue	1.45%	0.30%	1.16%	0.38%	8.94%	9.36%	1.72%	0.86%	3.02%	-	4.72%
Net Working Capital to Revenue	-0.76%	0.15%	-14.00%	-14.38%	-3.32%	-2.29%	-6.09%	-6.57%	-5.58%	-	-3.98%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.79	$0.68	$0.45	($0.02)	$0.73	$0.58	$0.22	$0.49	$0.65	$0.49	$0.42
Adjusted Weighted Average Basic Shares Outstanding	298M	298M	298M	298M	298M	298M	298M	298M	298M	298M	298M
Adjusted Diluted Earnings per Share	$0.78	$0.68	$0.44	($0.01)	$0.72	$0.58	$0.22	$0.49	$0.65	$0.48	$0.41
Adjusted Weighted Average Diluted Shares Outstanding	299M	299M	300M	300M	301M	299M	299M	300M	299M	299M	299M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	298.10M	298.10M	298.55M	596.21M	298.11M	298.18M	298.13M	297.99M	298.13M	298.15M	298.21M
Normalized Net Operating Profit after Tax (NOPAT)	272	239	191	69	286	233	136	218	257	207	193
Normalized NOPAT Margin	10.79%	9.73%	8.05%	2.99%	10.33%	8.66%	5.50%	9.37%	9.60%	-	8.17%
Pre Tax Income Margin	12.31%	11.03%	7.68%	-0.26%	10.25%	9.20%	3.27%	7.93%	9.56%	-	6.72%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.31	6.89	3.54	0.92	4.22	3.72	1.89	3.16	4.15	-	2.88
NOPAT to Interest Expense	5.51	5.16	2.59	0.64	3.24	2.60	1.54	2.49	3.14	-	2.25
EBIT Less CapEx to Interest Expense	4.39	4.28	1.93	-0.76	2.95	2.57	0.89	1.64	2.58	-	2.04
NOPAT Less CapEx to Interest Expense	2.60	2.55	0.97	-1.04	1.97	1.45	0.54	0.96	1.58	-	1.40
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	56.10%	58.09%	60.22%	78.48%	81.13%	85.99%	100.00%	76.25%	80.10%	-	77.30%
Augmented Payout Ratio	72.33%	71.80%	66.58%	90.30%	98.00%	104.03%	117.84%	86.54%	85.64%	-	81.91%

Financials Breakdown Chart

Key Financial Trends

Campbell’s Co. (NASDAQ: CPB) shows a mixed but generally resilient trend over the last several years, with improved profitability in the most recent quarter, but a more leveraged balance sheet and some signs of margin pressure compared with the prior year.

For Q2 fiscal 2026, revenue came in at $2.564 billion, down from $2.677 billion in Q1 2026 and slightly below $2.685 billion in Q2 2025. Net income was $145 million, or $0.48 diluted EPS, versus $194 million in Q1 2026 and $173 million in the year-ago quarter. That suggests seasonal softness and some earnings pressure, even though Campbell’s remained profitable.

Gross margin also moved lower in the latest quarter. Gross profit was $717 million on revenue of $2.564 billion, or about 28.0%, compared with about 29.6% in Q1 2026 and 30.5% in Q2 2025. Operating income was $273 million, down from $336 million in Q1 2026 and $327 million a year earlier.

One bright spot is cash generation. Campbell’s produced $516 million of operating cash flow in Q2 2026, up from $224 million in Q1 2026 and $512 million in Q2 2025. That gives the company flexibility to service debt, pay dividends, and invest in the business.

At the same time, the balance sheet remains heavily debt-laden. Total debt stood at roughly $7.08 billion in Q2 2026, versus about $6.97 billion in Q2 2025 and $5.95 billion in Q4 2024. Campbell’s equity base is much smaller than its liabilities, which leaves less financial cushion if earnings weaken.

Over the longer window, Campbell’s has generally maintained positive earnings and cash flow, but the trend has not been perfectly linear. Revenue has fluctuated quarter to quarter, and recent quarters show a more challenging operating backdrop than the stronger periods in 2024 and early 2025.

Strong operating cash flow: Q2 2026 operating cash flow was $516 million, showing the business continues to convert earnings into cash.
Profitable operations: The company earned $145 million in Q2 2026 despite softer sales.
Dividend remains covered: Quarterly dividend of $0.39 per share is supported by ongoing profits and cash generation.
Operating income remained positive: Q2 2026 operating income of $273 million indicates the core business is still earning money.
Shares have stayed fairly stable: Weighted diluted shares were about 299 million in Q2 2026, so dilution has not been a major issue recently.
Capital spending is modest: Q2 2026 capex was only $100 million, suggesting disciplined investment.
Asset base is large and acquisition-driven: Goodwill and intangibles remain very high, reflecting prior deal activity and limiting asset-quality flexibility.
Revenue declined sequentially: Q2 2026 revenue fell from $2.677 billion in Q1 2026 to $2.564 billion.
Margins compressed: Gross profit and operating income both declined versus the prior quarter and year-ago period.
Debt is elevated: Combined short- and long-term debt remained above $7 billion, which increases interest burden and refinancing risk.
Interest expense is a major drag: Q2 2026 interest expense of $82 million consumed a meaningful portion of operating income.

Bottom line: Campbell’s still looks like a steady cash-generating consumer staples business, but the latest quarter shows softer sales and thinner margins. For investors, the key positives are cash flow and dividend support; the main risks are leverage and weaker earnings momentum.

06/18/26 05:19 AM ETAI Generated. May Contain Errors.

Campbell's Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Campbell's' fiscal year ends in August. Their fiscal year 2025 ended on August 3, 2025.

In the past 10 years, Campbell's' net income has ranged from $211 million in 2019 to $1.63 billion in 2020, and is currently $602 million as of their latest financial filing in 2025. See where experts think Campbell's is headed by visiting Campbell's' forecast page.

Campbell's' total operating income in 2025 was $1.12 billion, based on the following breakdown:

Total Gross Profit: $3.12 billion
Total Operating Expenses: $2.00 billion

Over the last 10 years, Campbell's' total revenue changed from $8.08 billion in 2015 to $10.25 billion in 2025, a change of 26.9%.

Campbell's' total liabilities were at $10.99 billion at the end of 2025, a 3.9% decrease from 2024, and a 64.1% increase since 2015.

In the past 10 years, Campbell's' cash and equivalents has ranged from $31 million in 2019 to $859 million in 2020, and is currently $132 million as of their latest financial filing in 2025.

Over the last 10 years, Campbell's' book value per share changed from 4.45 in 2015 to 13.09 in 2025, a change of 194.3%.

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Financial statements for NASDAQ:CPB last updated on 6/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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