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Lifeway Foods (LWAY) Financials

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$32.44 +1.03 (+3.28%)
As of 11:55 AM Eastern
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Annual Income Statements for Lifeway Foods

Annual Income Statements for Lifeway Foods

This table shows Lifeway Foods' 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 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 1.97 3.48 -0.35 -3.09 0.45 3.23 3.31 0.92 11 9.03 14
Consolidated Net Income / (Loss)		 1.97 3.48 -0.35 -3.09 0.45 3.23 3.31 0.92 11 9.03 14
Net Income / (Loss) Continuing Operations		 1.97 3.48 -0.35 -3.09 0.45 3.23 3.31 0.92 11 9.03 14
Total Pre-Tax Income 		3.99 5.64 -0.80 -3.31 1.24 4.83 5.62 1.84 17 14 20
Total Operating Income		 4.40 6.09 -0.53 -3.11 -1.93 4.92 5.88 2.35 17 14 16
Total Gross Profit		 30 35 31 26 22 27 29 27 42 49 58
Total Revenue		 119 124 119 103 94 102 119 142 160 187 212
Operating Revenue		 119 124 119 103 94 102 119 142 160 187 212
Total Cost of Revenue		 89 89 88 77 72 75 90 115 118 138 154
Operating Cost of Revenue		 89 89 88 77 72 75 90 115 118 138 154
Total Operating Expenses		 25 29 31 29 24 22 23 24 25 35 42
Selling, General & Admin Expense		 25 28 31 27 24 22 23 24 25 34 41
Amortization Expense		 0.72 0.70 0.67 0.63 0.19 0.15 0.12 0.54 0.54 0.54 0.54
Total Other Income / (Expense), net		 -0.41 -0.45 -0.28 -0.20 3.17 -0.10 -0.26 -0.51 -0.35 0.12 3.51
Interest Expense		 0.24 0.22 0.24 0.27 0.25 0.12 0.12 0.27 0.38 0.11 0.08
Interest & Investment Income		 -0.55 -0.02 - 0.00 - - - - - 0.00 3.41
Other Income / (Expense), net		 0.37 -0.21 -0.04 0.07 3.42 0.02 -0.15 -0.24 0.04 0.22 0.18
Income Tax Expense		 2.02 2.16 -0.46 -0.23 0.78 1.60 2.31 0.92 5.28 4.94 5.83
Basic Earnings per Share		 $0.12 $0.22 ($0.02) ($0.19) $0.03 $0.21 $0.21 $0.06 $0.77 $0.61 $0.91
Weighted Average Basic Shares Outstanding		 16.33M 16.16M 16.11M 15.87M 15.75M 15.60M 15.54M 15.40M 14.67M 14.77M 15.20M
Diluted Earnings per Share		 $0.12 $0.22 ($0.02) ($0.19) $0.03 $0.21 $0.21 $0.06 $0.75 $0.60 $0.89
Weighted Average Diluted Shares Outstanding		 16.33M 16.16M 16.11M 16.32M 15.80M 15.77M 15.77M 15.72M 15.10M 15.13M 15.54M
Weighted Average Basic & Diluted Shares Outstanding		 16.33M 16.15M 17.30M 15.76M 15.58M 15.60M - 14.64M 14.69M 15.20M 15.15M

Quarterly Income Statements for Lifeway Foods

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 3.41 3.97 2.43 3.78 2.98 -0.16 3.54 4.25 3.53 2.54 4.67
Consolidated Net Income / (Loss)		 3.41 3.97 2.43 3.78 2.98 -0.16 3.54 4.25 3.53 2.54 4.67
Net Income / (Loss) Continuing Operations		 3.41 3.97 2.43 3.78 2.98 -0.16 3.54 4.25 3.53 2.54 4.67
Total Pre-Tax Income 		4.93 5.70 3.51 5.36 4.33 0.78 4.97 5.91 5.09 3.72 6.26
Total Operating Income		 5.04 5.75 3.56 5.39 4.19 0.71 1.57 5.80 5.04 3.76 6.33
Total Gross Profit		 11 12 12 13 12 12 11 15 16 15 17
Total Revenue		 41 42 45 49 46 47 46 54 57 55 63
Operating Revenue		 41 42 45 49 46 47 46 54 57 55 63
Total Cost of Revenue		 30 30 33 36 34 35 35 39 41 40 46
Operating Cost of Revenue		 30 30 33 36 34 35 35 39 41 40 46
Total Operating Expenses		 6.10 6.04 7.97 7.89 7.68 11 9.46 9.61 11 12 11
Selling, General & Admin Expense		 5.97 5.90 7.84 7.75 7.54 11 9.33 9.47 11 11 11
Amortization Expense		 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
Total Other Income / (Expense), net		 -0.11 -0.06 -0.06 -0.03 0.13 0.06 3.39 0.12 0.05 -0.05 -0.07
Interest Expense		 0.11 0.06 0.05 0.05 0.00 0.00 0.01 0.02 0.02 0.02 0.07
Interest & Investment Income		 - - - 0.00 0.00 - 3.35 0.06 0.00 - 0.00
Other Income / (Expense), net		 -0.00 0.01 -0.01 0.02 0.14 0.07 0.05 0.08 0.07 -3.38 0.00
Income Tax Expense		 1.52 1.73 1.08 1.58 1.35 0.94 1.43 1.66 1.56 1.18 1.58
Basic Earnings per Share		 $0.23 $0.26 $0.17 $0.26 $0.20 ($0.02) $0.23 $0.28 $0.23 $0.17 $0.31
Weighted Average Basic Shares Outstanding		 14.68M 14.67M 14.69M 14.73M 14.80M 14.77M 15.13M 15.21M 15.23M 15.20M 15.26M
Diluted Earnings per Share		 $0.23 $0.25 $0.16 $0.25 $0.19 - $0.23 $0.28 $0.23 $0.15 $0.30
Weighted Average Diluted Shares Outstanding		 15.10M 15.10M 15.22M 15.20M 15.27M 15.13M 15.33M 15.39M 15.42M 15.54M 15.56M
Weighted Average Basic & Diluted Shares Outstanding		 14.69M 14.69M 14.71M 14.79M 14.82M 15.20M 15.20M 15.23M 15.23M 15.15M 15.28M

Annual Cash Flow Statements for Lifeway Foods

This table details how cash moves in and out of Lifeway Foods' 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 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 2.39 3.17 -3.83 -1.98 0.84 4.09 1.31 -4.79 8.75 3.53 -11
Net Cash From Operating Activities		 6.75 5.10 3.81 2.42 3.81 6.39 5.56 3.99 17 13 11
Net Cash From Continuing Operating Activities		 6.75 5.10 3.81 2.42 3.81 6.39 5.56 3.99 17 13 11
Net Income / (Loss) Continuing Operations		 1.97 3.48 -0.35 -3.09 0.45 3.23 3.31 0.92 11 9.03 14
Consolidated Net Income / (Loss)		 1.97 3.48 -0.35 -3.09 0.45 3.23 3.31 0.92 11 9.03 14
Depreciation Expense		 3.13 3.02 3.11 3.48 3.34 3.24 2.87 2.97 3.16 3.39 3.98
Non-Cash Adjustments To Reconcile Net Income		 0.37 0.83 1.49 2.59 -2.53 0.40 1.25 1.36 1.47 2.47 -1.46
Changes in Operating Assets and Liabilities, net		 1.28 -2.22 -0.45 -0.56 2.55 -0.49 -1.87 -1.27 0.94 -1.92 -5.43
Net Cash From Investing Activities		 -1.78 -0.36 -5.32 -2.72 0.84 -1.89 -7.14 -4.03 -4.41 -6.68 -22
Net Cash From Continuing Investing Activities		 -1.78 -0.36 -5.32 -2.72 0.84 -1.89 -7.14 -4.03 -4.41 -6.68 -22
Purchase of Property, Plant & Equipment		 -2.00 -3.24 -5.34 -2.82 -1.18 -1.90 -1.92 -3.45 -4.35 -6.70 -27
Sale of Property, Plant & Equipment		 0.35 0.17 0.05 0.10 0.52 0.01 - 0.00 0.04 0.02 0.12
Sale and/or Maturity of Investments		 1.71 2.75 0.00 0.50 1.51 - - - - 0.00 5.21
Net Cash From Financing Activities		 -2.58 -1.58 -2.33 -1.68 -3.81 -0.41 2.89 -4.75 -3.78 -2.75 -0.07
Net Cash From Continuing Financing Activities		 -2.58 -1.58 -2.33 -1.68 -3.81 -0.41 2.89 -4.75 -3.78 -2.75 -0.07
Repayment of Debt		 -1.04 -0.84 -0.84 -6.35 -3.27 0.00 -0.53 -0.75 -3.78 -2.75 0.00
Repurchase of Common Equity		 -1.54 -0.74 -1.49 -1.38 -0.54 -0.41 -1.58 -4.00 - 0.00 -0.07
Cash Interest Paid		 0.24 0.22 0.24 0.26 0.26 0.10 0.10 0.25 0.42 0.10 0.06
Cash Income Taxes Paid		 1.92 1.42 2.38 0.72 -1.87 -0.43 2.29 1.12 4.79 5.99 5.59

Quarterly Cash Flow Statements for Lifeway Foods

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 5.18 0.57 -1.17 2.61 5.93 -3.83 2.72 1.77 1.77 -17 0.03
Net Cash From Operating Activities		 6.69 4.80 1.55 6.54 7.45 -2.58 -0.15 3.91 6.92 0.27 4.38
Net Cash From Continuing Operating Activities		 6.69 4.80 1.55 6.54 7.45 -2.58 -0.15 3.91 6.92 0.27 4.38
Net Income / (Loss) Continuing Operations		 3.41 3.97 2.43 3.78 2.98 -0.16 3.54 4.25 3.53 2.54 4.67
Consolidated Net Income / (Loss)		 3.41 3.97 2.43 3.78 2.98 -0.16 3.54 4.25 3.53 2.54 4.67
Depreciation Expense		 0.79 0.80 0.80 0.84 0.86 0.90 0.94 0.97 1.05 1.03 1.06
Non-Cash Adjustments To Reconcile Net Income		 0.43 0.42 0.68 0.64 0.60 0.56 -3.00 0.44 0.54 0.56 0.64
Changes in Operating Assets and Liabilities, net		 2.06 -0.40 -2.35 1.28 3.02 -3.88 -1.62 -1.74 1.80 -3.86 -1.99
Net Cash From Investing Activities		 -1.26 -1.20 -2.47 -1.44 -1.53 -1.25 2.93 -2.14 -5.15 -18 -11
Net Cash From Continuing Investing Activities		 -1.26 -1.20 -2.47 -1.44 -1.53 -1.25 2.93 -2.14 -5.15 -18 -11
Purchase of Property, Plant & Equipment		 -1.16 -1.21 -2.47 -1.44 -1.54 -1.25 -2.22 -2.31 -5.15 -18 -11
Sale and/or Maturity of Investments		 - - - - - - 5.15 - - - 0.00
Net Cash From Financing Activities		 -0.25 -3.03 -0.25 -2.50 - - -0.07 - - - 6.70
Net Cash From Continuing Financing Activities		 -0.25 -3.03 -0.25 -2.50 - - -0.07 - - - 6.70
Repayment of Debt		 -0.25 -3.03 -0.25 -2.50 - - 0.00 - - - -1.00
Repurchase of Common Equity		 - - 0.00 - - - -0.07 - - - -0.02
Issuance of Debt		 - - - - - - 0.00 - - - 8.00
Other Financing Activities, net		 - - - - - - 0.00 - - - -0.28
Cash Interest Paid		 0.11 0.07 0.05 0.04 0.01 0.00 0.01 0.02 0.02 0.02 0.05
Cash Income Taxes Paid		 2.30 1.52 1.93 1.38 1.55 1.13 0.00 2.46 1.70 1.43 0.00

Annual Balance Sheets for Lifeway Foods

This table presents Lifeway Foods' 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 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 65 65 65 57 57 61 71 69 82 91 106
Total Current Assets		 27 28 25 19 19 24 29 27 38 44 37
Cash & Equivalents		 5.65 8.81 4.98 3.00 3.84 7.93 9.23 4.44 13 17 5.57
Accounts Receivable		 9.89 9.59 8.68 6.28 6.69 8.00 9.93 11 14 15 17
Inventories, net		 7.66 8.04 7.70 5.82 6.39 6.93 8.29 9.63 9.10 8.68 12
Prepaid Expenses		 0.20 0.79 0.98 1.08 1.60 1.16 1.25 1.45 2.02 2.14 2.63
Current Deferred & Refundable Income Taxes		 1.01 0.31 2.35 2.75 0.68 0.03 0.34 0.04 0.00 0.63 0.33
Plant, Property, & Equipment, net		 21 22 25 25 22 21 20 21 23 27 48
Total Noncurrent Assets		 17 16 15 13 16 16 22 21 21 20 20
Goodwill		 14 14 14 13 13 14 12 12 12 12 12
Intangible Assets		 2.34 1.65 0.98 0.34 0.15 0.00 7.98 7.44 6.90 6.36 5.82
Other Noncurrent Operating Assets		 0.13 0.13 0.15 0.15 2.54 2.15 2.02 1.97 2.09 2.02 2.75
Total Liabilities & Shareholders' Equity		 65 65 65 57 57 61 71 69 82 91 106
Total Liabilities		 20 17 18 14 14 14 22 21 21 19 20
Total Current Liabilities		 11 9.38 13 7.45 9.52 8.44 12 13 17 16 17
Accounts Payable		 8.39 5.72 6.85 4.57 5.28 5.59 6.61 7.98 9.98 10 11
Accrued Expenses		 1.54 2.17 2.98 2.78 4.09 2.20 3.72 3.81 4.92 5.10 5.41
Current Deferred & Payable Income Tax Liabilities		 0.05 0.65 0.20 0.11 0.15 0.65 0.73 0.00 0.47 - 0.22
Total Noncurrent Liabilities		 8.84 7.47 4.73 6.95 4.21 5.95 9.68 8.39 4.60 3.13 3.15
Long-Term Debt		 7.12 6.28 3.11 6.00 2.75 2.77 6.25 5.25 1.48 - 0.00
Noncurrent Deferred & Payable Income Tax Liabilities		 1.72 1.19 0.84 0.39 0.92 2.94 3.20 3.03 3.00 3.06 2.79
Other Noncurrent Operating Liabilities		 - 0.00 0.78 0.56 0.55 0.24 0.23 0.10 0.12 0.07 0.36
Commitments & Contingencies		 - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 45 48 47 42 43 47 49 48 60 72 86
Total Preferred & Common Equity		 45 48 47 42 43 47 49 48 60 72 86
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		 45 48 47 42 43 47 49 48 60 72 86
Common Stock		 8.54 8.71 8.75 8.81 8.89 9.11 9.06 10 11 11 10
Retained Earnings		 47 50 50 47 47 50 54 54 66 75 89
Treasury Stock		 -9.73 -10 -12 -13 -13 -12 -13 -17 -17 -14 -13

Quarterly Balance Sheets for Lifeway Foods

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 74 71 72 80 83 85 91 94 98 110 121
Total Current Assets		 32 28 30 37 38 39 45 47 49 54 43
Cash & Equivalents		 8.93 5.21 7.45 13 12 15 21 19 21 23 5.60
Accounts Receivable		 12 12 11 13 15 15 13 17 16 17 23
Inventories, net		 9.19 9.29 9.67 9.32 8.13 8.45 8.44 9.24 10 11 11
Prepaid Expenses		 1.37 1.07 1.21 1.62 1.99 1.49 1.89 2.01 1.82 2.20 2.59
Current Deferred & Refundable Income Taxes		 0.65 0.00 0.00 0.26 0.38 0.18 0.38 0.00 0.00 0.13 0.04
Plant, Property, & Equipment, net		 21 22 22 22 25 25 26 28 31 36 58
Total Noncurrent Assets		 21 21 21 21 21 20 20 18 18 19 20
Goodwill		 12 12 12 12 12 12 12 12 12 12 12
Intangible Assets		 7.57 7.30 7.17 7.03 6.76 6.63 6.49 6.22 6.09 5.95 5.68
Other Noncurrent Operating Assets		 1.94 1.95 1.94 2.10 2.07 2.05 2.04 0.25 0.41 1.64 2.60
Total Liabilities & Shareholders' Equity		 74 71 72 80 83 85 91 94 98 110 121
Total Liabilities		 23 22 20 24 19 17 20 19 20 27 30
Total Current Liabilities		 14 14 12 16 15 14 17 16 16 23 20
Accounts Payable		 9.12 9.15 5.57 9.10 10 9.37 11 12 12 18 14
Accrued Expenses		 4.38 3.23 4.29 5.56 3.60 4.49 5.59 3.94 4.41 5.91 4.59
Current Deferred & Payable Income Tax Liabilities		 0.00 0.42 1.02 0.50 0.00 0.00 0.00 0.80 - - 1.52
Total Noncurrent Liabilities		 8.78 8.12 7.86 7.67 4.34 3.09 3.08 3.13 3.28 3.35 10
Long-Term Debt		 5.50 5.01 4.76 4.51 1.24 0.00 0.00 - - - 7.01
Noncurrent Deferred & Payable Income Tax Liabilities		 3.20 3.03 3.03 3.03 3.00 3.00 3.00 3.06 3.06 3.06 2.79
Other Noncurrent Operating Liabilities		 0.07 0.09 0.07 0.13 0.10 0.09 0.08 0.07 0.22 0.29 0.43
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - - - 0.00
Total Equity & Noncontrolling Interests		 50 49 52 56 64 68 72 74 79 83 90
Total Preferred & Common Equity		 50 49 52 56 64 68 72 74 79 83 90
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		 50 49 52 56 64 68 72 74 79 83 90
Common Stock		 9.78 10 11 11 12 12 12 9.19 9.35 9.86 9.86
Retained Earnings		 54 55 58 62 68 72 75 78 83 86 93
Treasury Stock		 -13 -17 -17 -17 -17 -16 -16 -13 -13 -13 -13

Annual Metrics And Ratios for Lifeway Foods

This table displays calculated financial ratios and metrics derived from Lifeway Foods' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 16,304,410.00 16,140,633.00 16,024,264.00 15,837,695.00 15,709,939.00 15,604,480.00 15,434,936.00 - - - 15,228,763.00
DEI Adjusted Shares Outstanding		 16,304,410.00 16,140,633.00 16,024,264.00 15,837,695.00 15,709,939.00 15,604,480.00 15,434,936.00 - - - 15,228,763.00
DEI Earnings Per Adjusted Shares Outstanding		 0.12 0.22 -0.02 -0.19 0.03 0.21 0.21 - - - 0.91
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -0.31% 4.46% -4.02% -13.07% -9.37% 8.93% 16.70% 18.90% 13.11% 16.67% 13.74%
EBITDA Growth		 5.47% 12.50% -71.32% -82.86% 1,003.43% 69.74% 5.13% -40.96% 297.54% -13.54% 16.47%
EBIT Growth		 12.56% 22.97% -109.57% -440.93% 148.82% 233.29% 15.89% -63.22% 708.02% -17.37% 16.21%
NOPAT Growth		 10.23% 72.66% -109.80% -491.25% 67.43% 564.81% 5.19% -65.99% 884.19% -22.87% 27.22%
Net Income Growth		 0.82% 76.42% -109.95% -791.91% 114.68% 613.47% 2.44% -72.09% 1,130.19% -20.60% 53.56%
EPS Growth		 0.00% 83.33% -109.09% -850.00% 115.79% 600.00% 0.00% -71.43% 1,150.00% -20.00% 48.33%
Operating Cash Flow Growth		 32.46% -24.33% -25.39% -36.53% 57.67% 67.54% -12.86% -28.34% 324.91% -23.49% -15.54%
Free Cash Flow Firm Growth		 225.31% -56.49% -177.48% 119.62% 711.85% 48.43% -152.73% 34.12% 962.32% -66.81% -466.03%
Invested Capital Growth		 -5.35% 3.79% 2.62% -5.20% -7.14% -1.10% 13.07% 5.27% 0.69% 10.43% 45.42%
Revenue Q/Q Growth		 -0.51% 0.52% -3.20% -3.03% 0.14% 2.43% 4.74% 3.56% 4.07% 2.66% 4.13%
EBITDA Q/Q Growth		 15.25% 3.31% -62.86% 154.07% 2,463.73% -14.76% -3.68% 35.07% 25.46% -21.86% -1.30%
EBIT Q/Q Growth		 25.03% 6.80% -114.54% 6.98% 143.20% -20.33% -4.56% 169.57% 30.97% -26.14% -2.36%
NOPAT Q/Q Growth		 28.22% 0.77% -118.10% 6.30% 72.75% 62.00% -8.92% 633.02% 36.32% -31.97% 30.21%
Net Income Q/Q Growth		 21.67% 4.63% -118.37% -52.55% 113.27% -19.32% -10.12% 703.48% 40.09% -31.39% 24.21%
EPS Q/Q Growth		 20.00% 4.76% -116.67% -46.15% 115.00% -16.00% -8.70% 500.00% 36.36% -29.41% 20.27%
Operating Cash Flow Q/Q Growth		 16.44% -25.81% -20.33% 23.00% -24.14% 51.81% -19.27% 19.09% 35.61% -36.27% 35.13%
Free Cash Flow Firm Q/Q Growth		 10.03% -52.60% -4,601.67% 112.93% -43.60% 205.82% -82.74% 4.05% 50.73% -66.92% -20,888.02%
Invested Capital Q/Q Growth		 -3.21% 1.78% 0.08% -5.30% 3.21% 0.10% 1.29% 3.25% 1.76% 8.28% 34.25%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 25.20% 28.28% 25.82% 25.02% 23.65% 26.40% 24.11% 18.92% 26.51% 26.00% 27.39%
EBITDA Margin		 6.67% 7.18% 2.14% 0.42% 5.15% 8.02% 7.23% 3.59% 12.61% 9.35% 9.57%
Operating Margin		 3.71% 4.91% -0.44% -3.01% -2.06% 4.83% 4.94% 1.66% 10.61% 7.41% 7.61%
EBIT Margin		 4.03% 4.74% -0.47% -2.94% 1.58% 4.85% 4.81% 1.49% 10.64% 7.53% 7.70%
Profit (Net Income) Margin		 1.66% 2.81% -0.29% -2.99% 0.48% 3.17% 2.78% 0.65% 7.10% 4.83% 6.52%
Tax Burden Percent		 49.40% 61.72% 43.03% 93.20% 36.68% 66.94% 58.96% 50.19% 68.27% 64.61% 70.40%
Interest Burden Percent		 83.60% 96.00% 143.06% 108.91% 83.22% 97.61% 97.98% 87.33% 97.75% 99.25% 120.36%
Effective Tax Rate		 50.60% 38.28% 0.00% 0.00% 63.32% 33.06% 41.04% 49.81% 31.73% 35.39% 29.60%
Return on Invested Capital (ROIC)		 4.70% 8.20% -0.78% -4.67% -1.62% 7.86% 7.80% 2.44% 23.30% 17.02% 16.81%
ROIC Less NNEP Spread (ROIC-NNEP)		 -11.43% 36.07% -12.11% -46.97% 120.31% 9.90% 12.16% -686.66% 28.92% 16.47% -5.37%
Return on Net Nonoperating Assets (RNNOA)		 -0.32% -0.76% 0.05% -2.27% 2.68% -0.69% -0.91% -0.53% -2.25% -3.38% 0.76%
Return on Equity (ROE)		 4.38% 7.43% -0.73% -6.94% 1.06% 7.17% 6.90% 1.91% 21.05% 13.64% 17.57%
Cash Return on Invested Capital (CROIC)		 10.20% 4.48% -3.36% 0.67% 5.79% 8.97% -4.46% -2.70% 22.61% 7.11% -20.20%
Operating Return on Assets (OROA)		 7.44% 9.02% -0.87% -5.01% 2.61% 8.37% 8.68% 3.01% 22.61% 16.35% 16.68%
Return on Assets (ROA)		 3.07% 5.35% -0.53% -5.09% 0.80% 5.47% 5.01% 1.32% 15.09% 10.48% 14.13%
Return on Common Equity (ROCE)		 4.38% 7.43% -0.73% -6.94% 1.06% 7.17% 6.90% 1.91% 21.05% 13.64% 17.57%
Return on Equity Simple (ROE_SIMPLE)		 4.36% 7.19% -0.74% -7.28% 1.05% 6.90% 6.74% 1.94% 18.81% 12.55% 0.00%
Net Operating Profit after Tax (NOPAT)		 2.18 3.76 -0.37 -2.18 -0.71 3.30 3.47 1.18 12 8.95 11
NOPAT Margin		 1.83% 3.03% -0.31% -2.11% -0.76% 3.23% 2.91% 0.83% 7.25% 4.79% 5.36%
Net Nonoperating Expense Percent (NNEP)		 16.13% -27.87% 11.33% 42.30% -121.93% -2.04% -4.36% 689.10% -5.62% 0.56% 22.19%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - 18.37% 12.45% 13.27%
Cost of Revenue to Revenue		 74.80% 71.72% 74.18% 74.98% 76.35% 73.60% 75.89% 81.08% 73.49% 74.00% 72.61%
SG&A Expenses to Revenue		 20.88% 22.80% 25.70% 26.21% 25.51% 21.42% 19.07% 16.88% 15.55% 18.30% 19.53%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 21.49% 23.37% 26.26% 28.03% 25.71% 21.57% 19.17% 17.26% 15.89% 18.59% 19.78%
Earnings before Interest and Taxes (EBIT)		 4.78 5.87 -0.56 -3.04 1.48 4.95 5.73 2.11 17 14 16
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 7.90 8.89 2.55 0.44 4.82 8.19 8.61 5.08 20 17 20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.00 3.84 2.75 0.70 0.72 1.80 1.45 1.81 3.26 5.11 4.30
Price to Tangible Book Value (P/TBV)		 6.27 5.69 4.06 1.02 1.03 2.57 2.41 3.03 4.71 6.82 5.40
Price to Revenue (P/Rev)		 1.53 1.50 1.08 0.29 0.33 0.83 0.60 0.61 1.23 1.97 1.74
Price to Earnings (P/E)		 91.77 53.40 0.00 0.00 69.01 26.12 21.44 93.07 17.33 40.71 26.62
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.09% 1.87% 0.00% 0.00% 1.45% 3.83% 4.66% 1.07% 5.77% 2.46% 3.76%
Enterprise Value to Invested Capital (EV/IC)		 4.02 3.94 2.70 0.72 0.72 1.90 1.46 1.77 3.73 6.36 4.53
Enterprise Value to Revenue (EV/Rev)		 1.52 1.49 1.09 0.32 0.32 0.78 0.58 0.62 1.17 1.88 1.71
Enterprise Value to EBITDA (EV/EBITDA)		 22.86 20.70 50.78 74.99 6.26 9.68 8.02 17.33 9.24 20.09 17.87
Enterprise Value to EBIT (EV/EBIT)		 37.84 31.35 0.00 0.00 20.33 16.03 12.04 41.77 10.95 24.92 22.22
Enterprise Value to NOPAT (EV/NOPAT)		 83.07 49.02 0.00 0.00 0.00 24.05 19.91 74.69 16.08 39.19 31.92
Enterprise Value to Operating Cash Flow (EV/OCF)		 26.79 36.07 34.01 13.56 7.92 12.41 12.40 22.09 11.01 27.06 33.20
Enterprise Value to Free Cash Flow (EV/FCFF)		 38.31 89.69 0.00 105.04 11.91 21.08 0.00 0.00 16.56 93.84 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.18 0.15 0.13 0.14 0.06 0.06 0.15 0.14 0.05 0.00 0.00
Long-Term Debt to Equity		 0.16 0.13 0.07 0.14 0.06 0.06 0.13 0.11 0.02 0.00 0.00
Financial Leverage		 0.03 -0.02 0.00 0.05 0.02 -0.07 -0.07 0.00 -0.08 -0.21 -0.14
Leverage Ratio		 1.43 1.39 1.37 1.36 1.33 1.31 1.38 1.45 1.39 1.30 1.24
Compound Leverage Factor		 1.19 1.33 1.95 1.48 1.11 1.28 1.35 1.26 1.36 1.29 1.50
Debt to Total Capital		 14.96% 12.83% 11.88% 12.39% 5.97% 5.58% 12.85% 12.03% 4.33% 0.00% 0.00%
Short-Term Debt to Total Capital		 1.58% 1.51% 5.99% 0.00% 0.00% 0.00% 1.77% 2.31% 1.98% 0.00% 0.00%
Long-Term Debt to Total Capital		 13.38% 11.32% 5.89% 12.39% 5.97% 5.58% 11.08% 9.72% 2.35% 0.00% 0.00%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 85.04% 87.17% 88.12% 87.61% 94.03% 94.42% 87.15% 87.97% 95.67% 100.00% 100.00%
Debt to EBITDA		 1.01 0.80 2.46 13.72 0.57 0.34 0.84 1.28 0.14 0.00 0.00
Net Debt to EBITDA		 -0.04 -0.19 0.51 6.86 -0.23 -0.63 -0.23 0.41 -0.52 0.00 0.00
Long-Term Debt to EBITDA		 0.90 0.71 1.22 13.72 0.57 0.34 0.73 1.03 0.07 0.00 0.00
Debt to NOPAT		 3.66 1.90 -17.05 -2.75 -3.87 0.84 2.09 5.52 0.24 0.00 0.00
Net Debt to NOPAT		 -0.13 -0.45 -3.53 -1.38 1.54 -1.57 -0.57 1.75 -0.90 0.00 0.00
Long-Term Debt to NOPAT		 3.27 1.67 -8.45 -2.75 -3.87 0.84 1.80 4.46 0.13 0.00 0.00
Altman Z-Score		 8.89 10.22 7.39 4.27 4.45 6.90 5.25 5.91 9.67 15.94 15.12
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.50 2.94 1.87 2.54 2.02 2.85 2.41 2.07 2.30 2.81 2.23
Quick Ratio		 1.68 1.96 1.03 1.24 1.11 1.89 1.59 1.22 1.63 2.07 1.34
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 4.72 2.05 -1.59 0.31 2.53 3.76 -1.98 -1.31 11 3.74 -14
Operating Cash Flow to CapEx		 410.78% 166.53% 71.97% 88.86% 580.95% 337.83% 289.49% 115.60% 393.06% 193.98% 40.18%
Free Cash Flow to Firm to Interest Expense		 19.99 9.33 -6.57 1.15 10.17 31.86 -17.09 -4.89 29.33 35.59 -177.66
Operating Cash Flow to Interest Expense		 28.58 23.20 15.74 8.92 15.31 54.11 47.97 14.93 44.12 123.45 142.18
Operating Cash Flow Less CapEx to Interest Expense		 21.62 9.27 -6.13 -1.12 12.67 38.09 31.40 2.02 32.89 59.81 -211.66
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.85 1.90 1.83 1.70 1.65 1.73 1.80 2.02 2.13 2.17 2.17
Accounts Receivable Turnover		 11.72 12.72 13.02 13.82 14.45 13.89 13.28 13.27 12.66 12.75 13.25
Inventory Turnover		 13.16 11.31 11.21 11.47 11.71 11.27 11.88 12.81 12.56 15.55 15.00
Fixed Asset Turnover		 5.48 5.73 5.12 4.20 4.00 4.71 5.78 6.90 7.33 7.53 5.66
Accounts Payable Turnover		 12.69 12.59 14.04 13.57 14.52 13.81 14.81 15.73 13.11 13.57 14.41
Days Sales Outstanding (DSO)		 31.14 28.70 28.04 26.40 25.27 26.28 27.49 27.52 28.82 28.62 27.54
Days Inventory Outstanding (DIO)		 27.73 32.26 32.57 31.83 31.16 32.38 30.73 28.49 29.05 23.47 24.33
Days Payable Outstanding (DPO)		 28.76 28.99 26.00 26.89 25.14 26.43 24.65 23.20 27.84 26.90 25.32
Cash Conversion Cycle (CCC)		 30.11 31.97 34.61 31.34 31.28 32.23 33.56 32.80 30.03 25.20 26.55
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 45 47 48 45 42 42 47 50 50 55 80
Invested Capital Turnover		 2.56 2.70 2.51 2.22 2.14 2.43 2.68 2.93 3.22 3.55 3.14
Increase / (Decrease) in Invested Capital		 -2.54 1.70 1.22 -2.49 -3.24 -0.46 5.45 2.49 0.34 5.21 25
Enterprise Value (EV)		 181 184 129 33 30 79 69 88 187 351 363
Market Capitalization		 181 186 128 30 31 84 71 86 197 367 369
Book Value per Share		 $2.78 $3.00 $2.91 $2.68 $2.75 $3.00 $3.18 $3.07 $4.11 $4.85 $5.64
Tangible Book Value per Share		 $1.77 $2.02 $1.97 $1.85 $1.93 $2.11 $1.91 $1.83 $2.85 $3.63 $4.48
Total Capital		 53 55 53 48 46 50 56 54 63 72 86
Total Debt		 7.96 7.12 6.28 6.00 2.75 2.77 7.25 6.50 2.73 0.00 0.00
Total Long-Term Debt		 7.12 6.28 3.11 6.00 2.75 2.77 6.25 5.25 1.48 0.00 0.00
Net Debt		 -0.29 -1.69 1.30 3.00 -1.09 -5.16 -1.99 2.06 -10 -17 -5.57
Capital Expenditures (CapEx)		 1.64 3.07 5.29 2.72 0.66 1.89 1.92 3.45 4.31 6.68 27
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 8.77 10 9.67 8.47 5.84 7.69 8.75 11 9.63 11 15
Debt-free Net Working Capital (DFNWC)		 17 19 15 11 9.68 16 18 15 23 28 20
Net Working Capital (NWC)		 16 18 11 11 9.68 16 17 14 22 28 20
Net Nonoperating Expense (NNE)		 0.20 0.28 -0.02 0.91 -1.16 0.06 0.16 0.25 0.24 -0.08 -2.47
Net Nonoperating Obligations (NNO)		 -0.29 -1.69 1.30 3.00 -1.09 -5.16 -1.99 2.06 -10 -17 -5.57
Total Depreciation and Amortization (D&A)		 3.13 3.02 3.11 3.48 3.34 3.24 2.87 2.97 3.16 3.39 3.98
Debt-free, Cash-free Net Working Capital to Revenue		 7.40% 8.23% 8.13% 8.19% 6.24% 7.53% 7.35% 7.59% 6.02% 6.09% 6.99%
Debt-free Net Working Capital to Revenue		 14.35% 15.34% 12.32% 11.09% 10.33% 15.30% 15.10% 10.73% 14.26% 15.04% 9.61%
Net Working Capital to Revenue		 13.65% 14.66% 9.66% 11.09% 10.33% 15.30% 14.26% 9.84% 13.48% 15.04% 9.61%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.12 $0.22 ($0.02) ($0.19) $0.03 $0.21 $0.21 $0.06 $0.77 $0.61 $0.91
Adjusted Weighted Average Basic Shares Outstanding		 16.19M 16.16M 16.11M 15.87M 15.75M 15.60M 15.54M 15.40M 14.67M 14.77M 15.20M
Adjusted Diluted Earnings per Share		 $0.12 $0.22 ($0.02) ($0.19) $0.03 $0.21 $0.21 $0.06 $0.75 $0.60 $0.89
Adjusted Weighted Average Diluted Shares Outstanding		 16.19M 16.16M 16.11M 16.32M 15.80M 15.77M 15.77M 15.72M 15.10M 15.13M 15.54M
Adjusted Basic & Diluted Earnings per Share		 $0.12 $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		 16.33M 16.15M 15.88M 15.76M 15.58M 15.60M 0.00 14.64M 14.69M 15.20M 15.15M
Normalized Net Operating Profit after Tax (NOPAT)		 3.08 3.76 -0.37 -1.31 -1.35 3.30 3.47 1.18 12 8.95 11
Normalized NOPAT Margin		 2.60% 3.03% -0.31% -1.26% -1.44% 3.23% 2.91% 0.83% 7.25% 4.79% 5.36%
Pre Tax Income Margin		 3.37% 4.55% -0.68% -3.20% 1.32% 4.73% 4.72% 1.30% 10.40% 7.48% 9.26%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 20.23 26.69 -2.32 -11.22 5.96 41.92 49.41 7.90 44.36 134.04 212.42
NOPAT to Interest Expense		 9.22 17.07 -1.52 -8.03 -2.85 27.93 29.88 4.42 30.22 85.23 147.86
EBIT Less CapEx to Interest Expense		 13.28 12.76 -24.19 -21.25 3.33 25.90 32.84 -5.02 33.13 70.40 -141.43
NOPAT Less CapEx to Interest Expense		 2.26 3.14 -23.39 -18.07 -5.48 11.91 13.32 -8.50 18.99 21.59 -205.99
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 78.19% 21.21% -429.48% -44.69% 118.76% 12.53% 47.81% 432.58% 0.00% 0.00% 0.47%

Quarterly Metrics And Ratios for Lifeway Foods

This table displays calculated financial ratios and metrics derived from Lifeway Foods' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - 15,203,241.00 15,203,241.00 15,226,520.00 15,228,763.00 15,149,600.00
DEI Adjusted Shares Outstanding		 - - - - - - 15,203,241.00 15,203,241.00 15,226,520.00 15,228,763.00 15,149,600.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - 0.23 0.28 0.23 0.17 0.31
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 7.23% 17.45% 17.76% 25.30% 12.71% 11.50% 3.26% 9.65% 23.97% 17.96% 36.71%
EBITDA Growth		 204.28% 166.25% 95.73% 11.86% -11.02% -74.43% -41.10% 9.64% 18.91% -15.94% 187.72%
EBIT Growth		 323.36% 232.70% 146.81% 12.77% -14.05% -86.47% -54.26% 8.71% 18.17% -50.64% 288.51%
NOPAT Growth		 230.50% 366.48% 176.50% 18.42% -17.38% -103.67% -54.48% 9.56% 21.21% 1,849.84% 321.10%
Net Income Growth		 247.10% 454.33% 192.29% 19.87% -12.78% -104.03% 45.92% 12.32% 18.58% 1,688.13% 32.03%
EPS Growth		 283.33% 400.00% 166.67% 19.05% -17.39% 0.00% 43.75% 12.00% 21.05% 0.00% 30.43%
Operating Cash Flow Growth		 60.48% 1,278.45% -48.93% 169.52% 11.39% -153.76% -109.70% -40.22% -7.14% 110.35% 3,018.67%
Free Cash Flow Firm Growth		 624.70% 325.55% -54.29% -36.12% -58.22% -246.14% 119.84% -95.41% -619.78% -319.71% -8,272.77%
Invested Capital Growth		 2.16% 0.69% 8.99% 5.19% 3.79% 10.43% 1.35% 7.71% 17.28% 45.42% 67.63%
Revenue Q/Q Growth		 4.25% 2.93% 6.04% 10.13% -6.23% 1.82% -1.80% 16.94% 6.01% -3.12% 13.82%
EBITDA Q/Q Growth		 4.43% 12.63% -33.64% 43.33% -16.93% -67.64% 52.59% 15.67% -9.96% -77.07% 422.29%
EBIT Q/Q Growth		 5.09% 14.31% -38.20% 51.90% -19.90% -82.01% 108.18% 18.01% -13.00% -92.45% 1,538.60%
NOPAT Q/Q Growth		 8.65% 14.90% -38.51% 54.26% -24.21% -105.10% 863.23% 271.26% -16.15% -26.35% 83.67%
Net Income Q/Q Growth		 8.11% 16.32% -38.88% 55.94% -21.33% -105.38% 2,312.50% 20.03% -16.95% -28.00% 83.94%
EPS Q/Q Growth		 9.52% 8.70% -36.00% 56.25% -24.00% 0.00% 0.00% 21.74% -17.86% -34.78% 100.00%
Operating Cash Flow Q/Q Growth		 175.49% -28.29% -67.77% 323.29% 13.86% -134.61% 94.18% 2,708.00% 76.87% -96.14% 1,539.70%
Free Cash Flow Firm Q/Q Growth		 33.88% 49.79% -154.30% 158.66% -12.44% -623.98% 107.37% -86.43% -10,015.06% -323.11% -43.53%
Invested Capital Q/Q Growth		 -3.20% 1.76% 8.05% -1.17% -4.50% 8.28% -0.84% 5.03% 4.00% 34.25% 14.31%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 27.25% 28.01% 25.84% 27.01% 25.74% 25.35% 23.94% 28.57% 28.71% 27.75% 27.54%
EBITDA Margin		 14.25% 15.59% 9.76% 12.70% 11.25% 3.58% 5.57% 12.70% 10.78% 2.55% 11.71%
Operating Margin		 12.32% 13.67% 7.98% 10.96% 9.09% 1.52% 3.42% 10.75% 8.82% 6.80% 10.04%
EBIT Margin		 12.32% 13.68% 7.97% 11.00% 9.39% 1.66% 3.53% 10.90% 8.95% 0.70% 10.04%
Profit (Net Income) Margin		 8.34% 9.43% 5.44% 7.70% 6.46% -0.34% 7.68% 7.88% 6.18% 4.59% 7.42%
Tax Burden Percent		 69.22% 69.67% 69.16% 70.59% 68.79% -20.62% 71.28% 71.88% 69.30% 68.36% 74.70%
Interest Burden Percent		 97.84% 98.92% 98.57% 99.13% 99.91% 99.61% 305.04% 100.58% 99.59% 962.95% 98.92%
Effective Tax Rate		 30.78% 30.33% 30.84% 29.41% 31.21% 120.62% 28.72% 28.12% 30.70% 31.64% 25.30%
Return on Invested Capital (ROIC)		 27.01% 30.62% 17.80% 26.27% 22.74% -1.11% 8.43% 26.92% 22.53% 14.58% 23.49%
ROIC Less NNEP Spread (ROIC-NNEP)		 28.65% 31.54% 18.68% 26.51% 22.05% -1.02% -8.25% 26.45% 22.36% 14.86% 24.06%
Return on Net Nonoperating Assets (RNNOA)		 -2.50% -2.45% -1.46% -3.55% -4.74% 0.21% 1.74% -6.47% -6.31% -2.10% -2.64%
Return on Equity (ROE)		 24.51% 28.16% 16.34% 22.72% 17.99% -0.90% 10.17% 20.45% 16.22% 12.48% 20.85%
Cash Return on Invested Capital (CROIC)		 15.38% 22.61% 16.84% 21.38% 22.58% 7.11% 13.00% 7.28% -0.12% -20.20% -30.12%
Operating Return on Assets (OROA)		 24.65% 29.08% 17.35% 24.75% 19.95% 3.60% 7.54% 22.97% 18.18% 1.51% 21.50%
Return on Assets (ROA)		 16.69% 20.04% 11.82% 17.32% 13.71% -0.74% 16.39% 16.61% 12.55% 9.94% 15.89%
Return on Common Equity (ROCE)		 24.51% 28.16% 16.34% 22.72% 17.99% -0.90% 10.17% 20.45% 16.22% 12.48% 20.85%
Return on Equity Simple (ROE_SIMPLE)		 14.49% 0.00% 20.40% 19.99% 18.39% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 3.49 4.01 2.46 3.80 2.88 -0.15 1.12 4.17 3.49 2.57 4.72
NOPAT Margin		 8.53% 9.52% 5.52% 7.73% 6.25% -0.31% 2.43% 7.73% 6.11% 4.65% 7.50%
Net Nonoperating Expense Percent (NNEP)		 -1.64% -0.93% -0.89% -0.24% 0.69% -0.10% 16.68% 0.47% 0.17% -0.28% -0.56%
Return On Investment Capital (ROIC_SIMPLE)		 - 6.34% - - - -0.20% 1.51% 5.29% 4.22% 3.00% 4.85%
Cost of Revenue to Revenue		 72.75% 71.99% 74.16% 72.99% 74.26% 74.65% 76.06% 71.43% 71.29% 72.25% 72.46%
SG&A Expenses to Revenue		 14.60% 14.03% 17.56% 15.77% 16.36% 23.54% 20.23% 17.57% 19.66% 20.71% 17.28%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 14.93% 14.35% 17.86% 16.05% 16.66% 23.83% 20.53% 17.82% 19.89% 20.95% 17.50%
Earnings before Interest and Taxes (EBIT)		 5.04 5.76 3.56 5.41 4.33 0.78 1.63 5.88 5.11 0.39 6.33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 5.83 6.56 4.36 6.24 5.19 1.68 2.57 6.84 6.16 1.41 7.38
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.71 3.26 3.98 2.76 5.36 5.11 5.01 4.76 5.11 4.30 3.24
Price to Tangible Book Value (P/TBV)		 4.07 4.71 5.61 3.78 7.19 6.82 6.61 6.15 6.49 5.40 4.02
Price to Revenue (P/Rev)		 0.99 1.23 1.52 1.06 2.11 1.97 1.97 1.94 2.07 1.74 1.28
Price to Earnings (P/E)		 18.70 17.33 19.52 13.82 29.15 40.71 36.66 35.34 37.88 26.62 19.54
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 5.35% 5.77% 5.12% 7.24% 3.43% 2.46% 2.73% 2.83% 2.64% 3.76% 5.12%
Enterprise Value to Invested Capital (EV/IC)		 2.95 3.73 4.51 3.25 7.12 6.36 6.44 6.15 6.69 4.53 3.21
Enterprise Value to Revenue (EV/Rev)		 0.94 1.17 1.46 0.98 1.99 1.88 1.87 1.83 1.96 1.71 1.28
Enterprise Value to EBITDA (EV/EBITDA)		 9.00 9.24 10.90 7.53 16.24 20.09 22.48 18.02 19.40 17.87 11.71
Enterprise Value to EBIT (EV/EBIT)		 11.14 10.95 12.71 8.76 19.04 24.92 29.01 22.14 23.86 22.22 13.98
Enterprise Value to NOPAT (EV/NOPAT)		 17.02 16.08 18.48 12.58 27.58 39.19 45.19 43.41 45.71 31.92 19.69
Enterprise Value to Operating Cash Flow (EV/OCF)		 11.59 11.01 15.75 8.85 17.84 27.06 31.27 40.95 49.33 33.20 19.02
Enterprise Value to Free Cash Flow (EV/FCFF)		 19.39 16.56 27.93 15.56 32.12 93.84 49.83 87.68 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.10 0.05 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08
Long-Term Debt to Equity		 0.08 0.02 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.08
Financial Leverage		 -0.09 -0.08 -0.08 -0.13 -0.22 -0.21 -0.21 -0.24 -0.28 -0.14 -0.11
Leverage Ratio		 1.44 1.39 1.37 1.31 1.34 1.30 1.28 1.25 1.30 1.24 1.30
Compound Leverage Factor		 1.41 1.38 1.35 1.30 1.34 1.30 3.91 1.26 1.30 11.98 1.29
Debt to Total Capital		 9.33% 4.33% 3.76% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.21%
Short-Term Debt to Total Capital		 2.02% 1.98% 1.89% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 7.30% 2.35% 1.87% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 7.21%
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		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 90.67% 95.67% 96.24% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 92.80%
Debt to EBITDA		 0.36 0.14 0.11 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28
Net Debt to EBITDA		 -0.43 -0.52 -0.43 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06
Long-Term Debt to EBITDA		 0.28 0.07 0.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28
Debt to NOPAT		 0.68 0.24 0.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.47
Net Debt to NOPAT		 -0.81 -0.90 -0.72 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.09
Long-Term Debt to NOPAT		 0.53 0.13 0.09 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.47
Altman Z-Score		 7.30 9.21 11.54 10.49 15.29 15.45 15.07 15.23 12.93 14.62 9.21
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.25 2.30 2.53 2.83 2.68 2.81 2.89 3.03 2.30 2.23 2.14
Quick Ratio		 1.57 1.63 1.82 2.10 2.04 2.07 2.21 2.29 1.73 1.34 1.43
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 2.45 3.67 -1.99 1.17 1.02 -5.36 0.40 0.05 -5.32 -22 -32
Operating Cash Flow to CapEx		 578.63% 398.42% 62.62% 455.71% 488.27% -206.16% -6.76% 53.27% 134.38% 1.51% 39.65%
Free Cash Flow to Firm to Interest Expense		 22.46 59.15 -39.04 24.85 255.69 -1,786.34 28.22 2.55 -253.14 -1,071.07 -474.77
Operating Cash Flow to Interest Expense		 61.37 77.37 30.31 139.23 1,862.75 -859.67 -10.71 186.29 329.48 12.71 64.38
Operating Cash Flow Less CapEx to Interest Expense		 50.76 57.95 -18.10 108.68 1,481.25 -1,276.67 -169.21 -163.43 84.29 -829.48 -97.99
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 2.00 2.13 2.18 2.25 2.12 2.17 2.13 2.11 2.03 2.17 2.14
Accounts Receivable Turnover		 12.51 12.66 12.34 13.68 13.69 12.75 11.86 12.62 13.20 13.25 11.57
Inventory Turnover		 12.46 12.56 13.90 14.24 15.03 15.55 16.14 15.29 15.32 15.00 15.94
Fixed Asset Turnover		 7.13 7.33 7.14 7.53 7.49 7.53 7.14 6.89 6.51 5.66 5.34
Accounts Payable Turnover		 12.66 13.11 12.63 17.28 13.21 13.57 12.95 13.44 10.44 14.41 12.94
Days Sales Outstanding (DSO)		 29.18 28.82 29.59 26.68 26.67 28.62 30.77 28.92 27.65 27.54 31.56
Days Inventory Outstanding (DIO)		 29.30 29.05 26.25 25.63 24.28 23.47 22.61 23.87 23.83 24.33 22.90
Days Payable Outstanding (DPO)		 28.84 27.84 28.89 21.12 27.64 26.90 28.19 27.15 34.98 25.32 28.20
Cash Conversion Cycle (CCC)		 29.64 30.03 26.95 31.19 23.31 25.20 25.19 25.64 16.50 26.55 26.26
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 49 50 54 53 51 55 55 57 60 80 92
Invested Capital Turnover		 3.17 3.22 3.22 3.40 3.64 3.55 3.46 3.48 3.69 3.14 3.13
Increase / (Decrease) in Invested Capital		 1.04 0.34 4.46 2.63 1.86 5.21 0.73 4.11 8.81 25 37
Enterprise Value (EV)		 145 187 243 173 363 351 352 354 400 363 294
Market Capitalization		 152 197 253 188 383 367 372 375 423 369 293
Book Value per Share		 $3.82 $4.11 $4.32 $4.62 $4.84 $4.85 $4.88 $5.18 $5.44 $5.64 $5.96
Tangible Book Value per Share		 $2.54 $2.85 $3.07 $3.38 $3.61 $3.63 $3.70 $4.01 $4.28 $4.48 $4.81
Total Capital		 62 63 66 68 72 72 74 79 83 86 97
Total Debt		 5.76 2.73 2.49 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.01
Total Long-Term Debt		 4.51 1.48 1.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 7.01
Net Debt		 -6.87 -10 -9.54 -15 -21 -17 -19 -21 -23 -5.57 1.41
Capital Expenditures (CapEx)		 1.16 1.20 2.47 1.44 1.53 1.25 2.22 7.34 5.15 18 11
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 9.14 9.63 12 11 7.50 11 12 12 7.41 15 17
Debt-free Net Working Capital (DFNWC)		 22 23 24 25 28 28 31 33 30 20 23
Net Working Capital (NWC)		 21 22 23 25 28 28 31 33 30 20 23
Net Nonoperating Expense (NNE)		 0.08 0.04 0.04 0.02 -0.09 0.01 -2.42 -0.08 -0.04 0.03 0.05
Net Nonoperating Obligations (NNO)		 -6.87 -10 -9.54 -15 -21 -17 -19 -21 -23 -5.57 1.41
Total Depreciation and Amortization (D&A)		 0.79 0.80 0.80 0.84 0.86 0.90 0.94 0.97 1.05 1.03 1.06
Debt-free, Cash-free Net Working Capital to Revenue		 5.94% 6.02% 7.15% 6.10% 4.12% 6.09% 6.14% 6.12% 3.63% 6.99% 7.46%
Debt-free Net Working Capital to Revenue		 14.15% 14.26% 14.36% 14.38% 15.42% 15.04% 16.47% 17.12% 14.89% 9.61% 9.90%
Net Working Capital to Revenue		 13.34% 13.48% 13.61% 14.38% 15.42% 15.04% 16.47% 17.12% 14.89% 9.61% 9.90%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.23 $0.26 $0.17 $0.26 $0.20 ($0.02) $0.23 $0.28 $0.23 $0.17 $0.31
Adjusted Weighted Average Basic Shares Outstanding		 14.68M 14.67M 14.69M 14.73M 14.80M 14.77M 15.13M 15.21M 15.23M 15.20M 15.26M
Adjusted Diluted Earnings per Share		 $0.23 $0.25 $0.16 $0.25 $0.19 $0.00 $0.23 $0.28 $0.23 $0.15 $0.30
Adjusted Weighted Average Diluted Shares Outstanding		 15.10M 15.10M 15.22M 15.20M 15.27M 15.13M 15.33M 15.39M 15.42M 15.54M 15.56M
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		 14.69M 14.69M 14.71M 14.79M 14.82M 15.20M 15.20M 15.23M 15.23M 15.15M 15.28M
Normalized Net Operating Profit after Tax (NOPAT)		 3.49 4.01 2.46 3.80 2.88 0.50 1.12 4.17 3.49 2.57 4.72
Normalized NOPAT Margin		 8.53% 9.52% 5.52% 7.73% 6.25% 1.06% 2.43% 7.73% 6.11% 4.65% 7.50%
Pre Tax Income Margin		 12.05% 13.53% 7.86% 10.90% 9.39% 1.65% 10.77% 10.97% 8.91% 6.71% 9.93%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 46.22 92.89 69.78 115.02 1,082.50 259.67 116.29 279.86 243.48 18.38 93.01
NOPAT to Interest Expense		 32.00 64.65 48.33 80.89 720.44 -49.00 80.14 198.36 166.33 122.50 69.48
EBIT Less CapEx to Interest Expense		 35.61 73.47 21.37 84.47 701.00 -157.33 -42.21 -69.86 -1.71 -823.81 -69.35
NOPAT Less CapEx to Interest Expense		 21.40 45.23 -0.08 50.34 338.94 -466.00 -78.36 -151.35 -78.86 -719.69 -92.89
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.64% 0.00% 0.00% 0.47% 0.14%

Financials Breakdown Chart

Key Financial Trends

Lifeway Foods (NASDAQ:LWAY) showed strong top-line growth in Q1 2026, but cash flow was pressured by heavy capital spending and working-capital outflows. Revenue rose to $63.0 million from $55.4 million in Q4 2025 and $46.1 million in Q1 2025, while net income increased to $4.7 million, up from $2.5 million in the prior quarter and $3.5 million a year earlier. The quarter also marked a meaningful improvement in operating profit margin versus late 2025 and early 2024.

That said, the balance sheet and cash flow statement show a more mixed picture. Operating cash flow was positive at $4.4 million, but the company spent $11.0 million on property, plant and equipment in the quarter, which more than offset operating cash generation. Lifeway also added $8.0 million of debt while repaying $1.0 million, suggesting it is still funding expansion with leverage.

  • Revenue climbed 13.8% year over year to $63.0 million in Q1 2026 from $55.4 million in Q4 2025 and $46.1 million in Q1 2025.
  • Net income rose to $4.7 million, more than doubling from Q4 2025 and topping Q1 2025’s $3.5 million.
  • Gross profit improved to $17.4 million, with gross margin holding near 27.5%.
  • Operating income increased to $6.3 million, up from $3.8 million in Q4 2025 and $1.6 million in Q1 2025.
  • Operating cash flow came in positive at $4.4 million, reversing the weak Q4 2025 result.
  • Cash on hand ended at $5.6 million, and total equity remained sizable at $90.3 million.
  • Accounts receivable rose to $23.0 million from $17.4 million in Q3 2025, which may reflect higher sales but also ties up more working capital.
  • Inventory increased to $11.5 million, another sign that growth is still requiring more operating capital.
  • Capital expenditures were very high at $11.0 million in Q1 2026, well above operating cash flow and a major drag on free cash flow.
  • Long-term debt stood at $7.0 million, and the company issued $8.0 million of debt during the quarter.

Looking at the trend over the last four years, Lifeway has clearly scaled up. Quarterly revenue has moved from roughly $37.9 million in Q1 2023 to $63.0 million in Q1 2026, while quarterly net income has generally improved, despite some volatility in late 2024 and early 2025. The company also has a history of turning earnings into cash, although working-capital swings and capex can create short-term noise.

The biggest takeaway for investors: Lifeway appears to be growing profitably, but the pace of investment is currently absorbing a lot of cash. If revenue and margins keep expanding, the spending could be justified; if not, the higher capex and new debt could become a concern.

07/16/26 10:06 AM ETAI Generated. May Contain Errors.

Lifeway Foods Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Lifeway Foods' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Lifeway Foods' net income appears to be on an upward trend, with a most recent value of $13.86 million in 2025, rising from $1.97 million in 2015. The previous period was $9.03 million in 2024. Check out Lifeway Foods' forecast to explore projected trends and price targets.

Lifeway Foods' total operating income in 2025 was $16.17 million, based on the following breakdown:
  • Total Gross Profit: $58.21 million
  • Total Operating Expenses: $42.03 million

Over the last 10 years, Lifeway Foods' total revenue changed from $118.59 million in 2015 to $212.50 million in 2025, a change of 79.2%.

Lifeway Foods' total liabilities were at $19.79 million at the end of 2025, a 6.2% increase from 2024, and a 0.7% increase since 2015.

In the past 10 years, Lifeway Foods' cash and equivalents has ranged from $3.00 million in 2018 to $16.73 million in 2024, and is currently $5.57 million as of their latest financial filing in 2025.

Over the last 10 years, Lifeway Foods' book value per share changed from 2.78 in 2015 to 5.64 in 2025, a change of 103.0%.


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Financial statements for NASDAQ:LWAY last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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