Hormel Foods (HRL) Financials

$30.15 +0.03 (+0.10%)

Closing price 05/20/2025 03:59 PM Eastern

Extended Trading

$30.22 +0.07 (+0.22%)

As of 08:40 AM Eastern

Annual Income Statements for Hormel Foods

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	10/27/2024	10/29/2023	10/30/2022	10/31/2021	10/25/2020	10/27/2019	10/28/2018	10/29/2017	10/30/2016	10/25/2015
Net Income / (Loss) Attributable to Common Shareholders	805	794	1,000	909	908	979	1,012	847	890	686
Consolidated Net Income / (Loss)	805	793	1,000	909	908	979	1,013	847	891	687
Net Income / (Loss) Continuing Operations	805	793	1,000	909	908	979	1,013	847	891	687
Total Pre-Tax Income	1,035	1,013	1,278	1,126	1,115	1,210	1,181	1,279	1,317	1,057
Total Operating Income	1,068	1,072	1,313	1,123	1,100	1,157	1,121	1,237	1,324	1,067
Total Gross Profit	2,022	2,000	2,165	1,928	1,826	1,885	1,979	1,997	2,158	1,809
Total Revenue	11,921	12,110	12,459	11,386	9,608	9,497	9,546	9,168	9,523	9,264
Operating Revenue	11,921	12,110	12,459	11,386	9,608	9,497	9,546	9,168	9,523	9,264
Total Cost of Revenue	9,899	10,110	10,294	9,458	7,782	7,613	7,566	7,171	7,365	7,455
Operating Cost of Revenue	9,899	10,110	10,294	9,458	7,782	7,613	7,566	7,171	7,365	7,455
Total Operating Expenses	954	928	852	805	726	728	858	759	834	741
Selling, General & Admin Expense	1,005	942	879	853	761	728	841	759	872	744
Other Operating Expenses / (Income)	-51	-43	-27	-48	-36	-	-	-	-39	-24
Impairment Charge	0.00	28	0.00	0.00	-	-	17	0.18	0.99	22
Total Other Income / (Expense), net	-32	-59	-35	3.57	15	53	60	41	-6.68	-10
Interest Expense	81	73	63	43	21	18	26	13	13	13
Interest & Investment Income	48	15	28	47	36	39	59	40	-	-
Income Tax Expense	231	221	278	217	206	231	169	432	427	370
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.41	-0.65	0.24	0.30	0.27	0.34	0.44	0.37	0.47	1.18
Basic Earnings per Share	$1.47	$1.45	$1.84	$1.68	$1.69	$1.83	$1.91	$1.60	$1.68	$1.30
Weighted Average Basic Shares Outstanding	548.13M	546.42M	544.92M	541.11M	538.01M	534.58M	530.74M	528.36M	529.29M	528.14M
Diluted Earnings per Share	$1.47	$1.45	$1.82	$1.66	$1.66	$1.80	$1.86	$1.57	$1.64	$1.27
Weighted Average Diluted Shares Outstanding	548.83M	548.98M	549.57M	547.58M	546.59M	545.23M	543.87M	539.12M	542.47M	541.00M
Weighted Average Basic & Diluted Shares Outstanding	549.01M	546.84M	546.42M	542.57M	539.92M	534.74M	529.90M	529.20M	529.80M	527.80M
Cash Dividends to Common per Share	$1.13	$1.10	$1.04	$0.98	$0.93	$0.84	$0.75	$0.68	$0.58	$0.50

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	1/26/2025	10/27/2024	7/28/2024	4/28/2024	1/28/2024	10/29/2023	7/30/2023	4/30/2023	1/29/2023	10/30/2022	7/31/2022
Net Income / (Loss) Attributable to Common Shareholders	171	220	177	189	219	196	163	217	218	280	219
Consolidated Net Income / (Loss)	171	220	177	189	219	195	163	217	218	280	219
Net Income / (Loss) Continuing Operations	171	220	177	189	219	195	163	217	218	280	219
Total Pre-Tax Income	218	280	226	244	286	246	208	279	281	357	290
Total Operating Income	228	294	237	252	284	270	217	296	289	367	291
Total Gross Profit	475	521	488	504	509	514	498	491	496	566	506
Total Revenue	2,989	3,138	2,898	2,887	2,997	3,198	2,963	2,978	2,971	3,283	3,034
Operating Revenue	2,989	3,138	2,898	2,887	2,997	3,198	2,963	2,978	2,971	3,283	3,034
Total Cost of Revenue	2,514	2,617	2,410	2,384	2,488	2,684	2,465	2,486	2,475	2,717	2,528
Operating Cost of Revenue	2,514	2,617	2,410	2,384	2,488	2,684	2,465	2,486	2,475	2,717	2,528
Total Operating Expenses	247	219	260	251	224	235	291	196	206	199	215
Selling, General & Admin Expense	263	239	260	267	240	217	291	212	222	206	222
Other Operating Expenses / (Income)	-16	-	-	-15	-16	-	-	-17	-16	-7.23	-7.14
Total Other Income / (Expense), net	-10	-22	-3.00	-8.18	1.11	-34	0.65	-17	-8.25	-9.67	-1.20
Interest Expense	19	19	21	22	18	18	18	18	18	18	16
Interest & Investment Income	9.20	-3.00	18	13	19	-16	19	1.37	10	7.93	14
Income Tax Expense	48	60	49	55	67	50	45	62	64	77	71
Net Income / (Loss) Attributable to Noncontrolling Interest	-0.05	-0.24	0.03	-0.07	-0.13	-0.45	-0.11	-0.02	-0.07	0.13	-0.09
Basic Earnings per Share	$0.31	$0.40	$0.32	$0.35	$0.40	$0.35	$0.30	$0.40	$0.40	$0.52	$0.40
Weighted Average Basic Shares Outstanding	549.46M	548.13M	548.69M	547.87M	547.02M	546.42M	546.36M	546.42M	546.38M	544.92M	546.08M
Diluted Earnings per Share	$0.31	$0.41	$0.32	$0.34	$0.40	$0.35	$0.30	$0.40	$0.40	$0.50	$0.40
Weighted Average Diluted Shares Outstanding	549.85M	548.83M	549.27M	548.69M	547.92M	548.98M	548.64M	549.01M	550.03M	549.57M	550.17M
Weighted Average Basic & Diluted Shares Outstanding	549.91M	549.01M	548.36M	548.31M	547.69M	546.84M	546.48M	546.27M	546.53M	546.42M	546.20M
Cash Dividends to Common per Share	$0.29	-	$0.28	$0.28	$0.28	-	$0.28	$0.28	$0.28	-	$0.26

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	10/27/2024	10/29/2023	10/30/2022	10/31/2021	10/25/2020	10/27/2019	10/28/2018	10/29/2017	10/30/2016	10/25/2015
Net Change in Cash & Equivalents	5.35	-246	369	-1,101	1,041	217	15	28	68	13
Net Cash From Operating Activities	1,267	1,048	1,135	1,002	1,128	923	1,242	1,034	1,040	992
Net Cash From Continuing Operating Activities	1,267	1,048	1,135	1,002	1,128	923	1,242	1,034	1,040	992
Net Income / (Loss) Continuing Operations	805	793	1,000	909	908	979	1,013	847	891	687
Consolidated Net Income / (Loss)	805	793	1,000	909	908	979	1,013	847	891	687
Depreciation Expense	234	227	213	184	166	153	149	123	124	125
Amortization Expense	24	26	23	26	40	12	13	8.38	8.39	8.14
Non-Cash Adjustments To Reconcile Net Income	49	95	94	21	11	-34	-1.85	-4.75	25	22
Changes in Operating Assets and Liabilities, net	156	-93	-195	-137	3.03	-187	69	61	-7.58	150
Net Cash From Investing Activities	-237	-690	-258	-3,626	-656	220	-1,235	-587	-408	-901
Net Cash From Continuing Investing Activities	-237	-690	-258	-3,626	-656	220	-1,235	-587	-408	-901
Purchase of Property, Plant & Equipment	-256	-270	-279	-232	-368	-294	-390	-221	-256	-144
Purchase of Investments	-14	-428	0.00	-4.36	-24	-21	-7.55	0.00	10	-4.80
Sale of Property, Plant & Equipment	0.47	5.32	1.22	2.22	1.92	37	9.75	3.75	6.23	19
Divestitures	25	0.00	0.00	-	-	480	0.00	136	110	0.00
Sale and/or Maturity of Investments	0.00	0.00	4.90	-0.34	0.00	-	-	5.10	-	-
Other Investing Activities, net	8.11	3.10	15	5.32	3.77	18	9.70	9.78	1.35	-
Net Cash From Financing Activities	-1,030	-600	-487	1,521	566	-926	12	-419	-557	-71
Net Cash From Continuing Financing Activities	-1,030	-600	-487	1,521	566	-926	12	-419	-557	-71
Repayment of Debt	-960	-8.83	-8.67	-259	-8.37	-375	-0.16	0.00	-185	-165
Repurchase of Common Equity	0.00	-12	0.00	-20	-12	-174	-47	-94	-88	-25
Payment of Dividends	-615	-593	-558	-523	-487	-437	-388	-346	-296	-264
Issuance of Debt	498	1.98	0.00	2,276	992	0.00	375	0.00	0.00	350
Issuance of Common Equity	6.51	0.00	0.00	-	0.08	0.00	0.00	-	-	-
Other Financing Activities, net	41	12	80	46	82	60	72	22	12	33
Effect of Exchange Rate Changes	5.61	-3.81	-22	2.61	3.53	-	-2.99	-	-6.34	-7.35

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	1/26/2025	10/27/2024	7/28/2024	4/28/2024	1/28/2024	10/29/2023	7/30/2023	4/30/2023	1/29/2023	10/30/2022	7/31/2022
Net Change in Cash & Equivalents	99	204	-949	523	227	67	89	-19	-382	132	-11
Net Cash From Operating Activities	309	409	218	236	404	319	317	208	204	372	186
Net Cash From Continuing Operating Activities	309	409	218	236	404	319	317	208	204	372	186
Net Income / (Loss) Continuing Operations	171	220	177	189	219	195	163	217	218	280	219
Consolidated Net Income / (Loss)	171	220	177	189	219	195	163	217	218	280	219
Depreciation Expense	66	42	64	64	64	40	64	62	62	21	65
Non-Cash Adjustments To Reconcile Net Income	28	8.79	13	20	5.96	71	16	15	-7.65	43	-0.06
Changes in Operating Assets and Liabilities, net	45	113	-36	-37	115	-13	74	-86	-68	4.06	-98
Net Cash From Investing Activities	-60	-60	-64	-65	-48	-101	-77	-60	-451	-86	-46
Net Cash From Continuing Investing Activities	-60	-60	-64	-65	-48	-101	-77	-60	-451	-86	-46
Purchase of Property, Plant & Equipment	-72	-84	-65	-60	-47	-102	-78	-54	-37	-90	-61
Purchase of Investments	-2.78	-7.95	-0.61	-4.54	-0.96	-428	-0.00	419	-419	-	4.37
Sale of Property, Plant & Equipment	0.04	0.04	0.04	0.39	0.01	0.02	0.27	0.02	5.02	0.18	0.61
Divestitures	14	-	-	-	0.00	-	-	-	-	-	-
Other Investing Activities, net	0.94	-	8.10	-	0.01	1.12	0.05	1.92	0.02	8.02	6.67
Net Cash From Financing Activities	-143	-150	-1,101	354	-133	-149	-144	-165	-142	-142	-140
Net Cash From Continuing Financing Activities	-143	-150	-1,101	354	-133	-149	-144	-165	-142	-142	-140
Repayment of Debt	-2.20	-2.22	-952	-3.38	-2.25	-2.24	-2.21	-2.19	-2.19	-2.18	-1.47
Payment of Dividends	-155	-155	-155	-155	-150	-150	-150	-151	-142	-142	-142
Issuance of Common Equity	0.00	-	-	6.23	0.28	-	-	-	0.00	-	-
Other Financing Activities, net	14	6.93	6.33	8.56	19	3.53	5.93	-0.08	2.64	1.87	2.87
Effect of Exchange Rate Changes	-7.29	6.07	-1.81	-2.87	4.22	-1.54	-6.72	-2.65	7.09	-12	-11

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	10/27/2024	10/29/2023	10/30/2022	10/31/2021	10/25/2020	10/27/2019	10/28/2018	10/29/2017	10/30/2016	10/25/2015
Total Assets	13,435	13,449	13,307	12,696	9,908	8,109	8,142	6,976	6,370	6,140
Total Current Assets	3,246	3,297	3,637	2,948	3,579	2,361	2,050	2,027	2,030	2,063
Cash & Equivalents	742	737	982	614	1,714	673	459	444	415	347
Short-Term Investments	25	17	16	21	17	15	0.00	-	-	-
Accounts Receivable	818	817	868	896	702	574	600	618	591	606
Inventories, net	1,576	1,680	1,716	1,369	1,073	1,042	964	921	986	993
Prepaid Expenses	35	39	48	40	18	23	16	16	14	14
Current Deferred & Refundable Income Taxes	50	7.24	7.18	8.29	41	20	4.00	22	18	93
Plant, Property, & Equipment, net	2,195	2,166	2,141	2,109	1,898	1,629	1,513	1,203	1,105	1,012
Plant, Property & Equipment, gross	4,712	4,510	4,325	4,137	3,767	3,355	3,202	2,777	2,767	2,646
Accumulated Depreciation	2,518	2,345	2,184	2,027	1,869	1,726	1,689	1,573	1,662	1,634
Total Noncurrent Assets	7,994	7,986	7,529	7,639	4,431	4,118	4,580	3,746	3,235	3,065
Long-Term Investments	719	725	271	299	308	289	273	242	240	259
Goodwill	4,923	4,928	4,926	4,929	2,613	2,482	2,714	2,120	1,834	1,699
Intangible Assets	1,733	1,757	1,803	1,822	1,076	1,034	1,207	1,027	903	827
Employee Benefit Assets	206	205	246	289	183	136	195	172	69	133
Other Noncurrent Operating Assets	412	370	283	300	250	178	190	185	182	146
Total Liabilities & Shareholders' Equity	13,435	13,449	13,307	12,696	9,908	8,109	8,142	6,976	6,370	6,140
Total Liabilities	5,431	5,710	5,767	5,718	3,478	2,183	2,537	2,036	1,919	2,138
Total Current Liabilities	1,399	2,312	1,473	1,416	1,504	1,105	1,139	1,058	1,053	1,214
Short-Term Debt	7.81	951	8.80	8.76	259	0.00	-	-	-	185
Accounts Payable	736	771	817	793	645	590	619	553	482	495
Accrued Expenses	175	139	172	166	168	158	167	179	202	191
Dividends Payable	176	172	164	155	133	113	101	90	77	67
Current Deferred & Payable Income Tax Liabilities	22	15	33	24	22	6.21	2.49	0.53	4.33	6.76
Current Employee Benefit Liabilities	283	263	279	269	278	238	249	236	288	269
Total Noncurrent Liabilities	4,031	3,398	4,293	4,302	1,974	1,078	1,399	978	865	924
Long-Term Debt	2,851	2,359	3,291	3,315	1,045	250	625	250	250	250
Noncurrent Deferred & Payable Income Tax Liabilities	589	498	475	278	219	177	197	98	0.00	64
Noncurrent Employee Benefit Liabilities	380	349	386	546	553	536	478	530	522	509
Other Noncurrent Operating Liabilities	211	192	142	163	157	115	99	99	93	101
Total Equity & Noncontrolling Interests	8,004	7,739	7,540	6,978	6,430	5,926	5,605	4,940	4,451	4,001
Total Preferred & Common Equity	7,993	7,735	7,535	6,973	6,426	5,921	5,601	4,936	4,448	3,998
Preferred Stock	0.00	0.00	0.00	0.00	-	-	-	0.00	0.00	0.00
Total Common Equity	7,993	7,735	7,535	6,973	6,426	5,921	5,601	4,936	4,448	3,998
Common Stock	579	514	477	368	297	193	114	21	7.74	7.74
Retained Earnings	7,678	7,493	7,313	6,882	6,523	6,128	5,730	5,163	4,737	4,216
Accumulated Other Comprehensive Income / (Loss)	-263	-272	-256	-277	-395	-400	-243	-248	-296	-226
Noncontrolling Interest	11	4.10	4.94	5.48	4.78	4.08	4.01	3.79	3.40	3.20

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	1/26/2025	10/27/2024	7/28/2024	4/28/2024	1/28/2024	10/29/2023	7/30/2023	4/30/2023	1/29/2023	10/30/2022	7/31/2022
Total Assets	13,403	13,435	13,114	14,135	13,513	13,449	13,427	13,316	13,283	13,307	13,140
Total Current Assets	3,266	3,246	2,997	3,977	3,367	3,297	3,255	3,163	3,195	3,637	3,403
Cash & Equivalents	840	742	537	1,486	963	737	669	580	600	982	850
Short-Term Investments	26	25	24	23	19	17	17	18	18	16	18
Accounts Receivable	768	818	727	732	751	817	786	762	787	868	803
Inventories, net	1,517	1,576	1,650	1,674	1,578	1,680	1,738	1,746	1,730	1,716	1,679
Prepaid Expenses	64	35	59	62	56	39	37	50	40	48	45
Current Deferred & Refundable Income Taxes	51	50	-	-	-	7.24	7.50	7.23	7.15	7.18	7.73
Plant, Property, & Equipment, net	2,175	2,195	2,169	2,163	2,156	2,166	2,131	2,119	2,124	2,141	2,118
Plant, Property & Equipment, gross	4,724	4,712	4,637	4,587	4,536	4,510	4,433	4,376	4,348	4,325	4,260
Accumulated Depreciation	2,549	2,518	2,468	2,424	2,381	2,345	2,301	2,257	2,224	2,184	2,142
Total Noncurrent Assets	7,963	7,994	7,948	7,996	7,990	7,986	8,041	8,034	7,963	7,529	7,619
Long-Term Investments	710	719	680	710	728	725	743	742	702	271	278
Goodwill	4,917	4,923	4,924	4,929	4,931	4,928	4,932	4,930	4,928	4,926	4,929
Intangible Assets	1,728	1,733	1,744	1,749	1,753	1,757	1,791	1,795	1,799	1,803	1,808
Employee Benefit Assets	201	206	191	196	200	205	236	239	242	246	311
Other Noncurrent Operating Assets	406	412	409	412	378	370	339	328	293	283	292
Total Liabilities & Shareholders' Equity	13,403	13,435	13,114	14,135	13,513	13,449	13,427	13,316	13,283	13,307	13,140
Total Liabilities	5,365	5,431	5,237	6,239	5,664	5,710	5,709	5,624	5,664	5,767	5,773
Total Current Liabilities	1,332	1,399	1,310	2,305	2,261	2,312	2,321	1,305	1,373	1,473	1,420
Short-Term Debt	7.19	7.81	8.23	957	954	951	947	8.96	8.93	8.80	8.81
Accounts Payable	709	736	675	691	744	771	703	750	765	817	799
Accrued Expenses	203	175	188	184	102	139	220	98	133	172	131
Dividends Payable	174	176	171	180	162	172	158	172	158	164	168
Current Deferred & Payable Income Tax Liabilities	9.00	22	19	54	86	15	50	47	95	33	64
Current Employee Benefit Liabilities	230	283	249	239	213	263	242	229	214	279	249
Total Noncurrent Liabilities	4,033	4,031	3,927	3,934	3,404	3,398	3,388	4,319	4,291	4,293	4,354
Long-Term Debt	2,850	2,851	2,852	2,853	2,357	2,359	2,360	3,294	3,293	3,291	3,294
Noncurrent Deferred & Payable Income Tax Liabilities	595	589	499	505	501	498	468	466	471	475	354
Noncurrent Employee Benefit Liabilities	382	380	359	356	353	349	396	393	389	386	551
Other Noncurrent Operating Liabilities	206	211	217	221	193	192	164	165	137	142	154
Total Equity & Noncontrolling Interests	8,046	8,004	7,877	7,896	7,849	7,739	7,718	7,692	7,619	7,540	7,367
Total Preferred & Common Equity	8,028	7,993	7,867	7,886	7,844	7,735	7,713	7,687	7,614	7,535	7,362
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	8,028	7,993	7,867	7,886	7,844	7,735	7,713	7,687	7,614	7,535	7,362
Common Stock	611	579	569	557	538	514	507	496	485	477	467
Retained Earnings	7,689	7,678	7,613	7,591	7,557	7,493	7,448	7,435	7,381	7,313	7,177
Accumulated Other Comprehensive Income / (Loss)	-271	-263	-314	-262	-251	-272	-242	-245	-252	-256	-283
Noncontrolling Interest	10	11	10	10	4.46	4.10	4.60	5.11	5.09	4.94	5.27

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	10/27/2024	10/29/2023	10/30/2022	10/31/2021	10/25/2020	10/27/2019	10/28/2018	10/29/2017	10/30/2016	10/25/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-1.56%	-2.80%	9.42%	18.50%	1.17%	-0.51%	4.13%	-3.74%	2.80%	-0.56%
EBITDA Growth	0.03%	-14.41%	16.26%	1.98%	-3.53%	3.29%	-5.21%	-5.43%	21.46%	14.93%
EBIT Growth	-0.38%	-18.33%	16.93%	2.03%	-7.43%	3.46%	-8.22%	-5.89%	24.28%	16.68%
NOPAT Growth	-1.06%	-18.35%	13.35%	1.09%	-4.27%	-2.54%	17.24%	-8.43%	28.99%	15.51%
Net Income Growth	1.48%	-20.73%	10.02%	0.09%	-7.23%	-3.30%	19.53%	-4.88%	29.57%	13.41%
EPS Growth	1.38%	-20.33%	9.64%	0.00%	-7.78%	-3.23%	18.47%	-4.27%	29.13%	13.41%
Operating Cash Flow Growth	20.89%	-7.68%	13.28%	-11.18%	22.21%	-25.67%	20.10%	-0.59%	4.84%	28.57%
Free Cash Flow Firm Growth	22.69%	1.78%	129.25%	-831.70%	-68.83%	2,877.20%	-112.59%	-47.59%	486.30%	-40.43%
Invested Capital Growth	-1.95%	0.08%	2.21%	63.45%	9.70%	-5.13%	21.88%	11.39%	5.83%	17.48%
Revenue Q/Q Growth	-0.50%	-0.70%	-1.36%	10.00%	-0.84%	-0.24%	0.34%	-1.45%	2.44%	-1.52%
EBITDA Q/Q Growth	3.99%	-3.82%	0.34%	6.92%	-1.66%	-0.33%	2.10%	-5.49%	5.62%	3.79%
EBIT Q/Q Growth	2.34%	-8.31%	-1.34%	7.93%	-3.09%	-0.56%	1.87%	-5.98%	6.12%	4.13%
NOPAT Q/Q Growth	2.06%	-8.01%	-1.92%	6.41%	1.31%	-1.14%	7.19%	-6.76%	6.72%	3.72%
Net Income Q/Q Growth	3.14%	-9.63%	-0.17%	5.48%	-2.26%	-0.60%	4.45%	-2.96%	6.81%	2.32%
EPS Q/Q Growth	4.26%	-9.38%	-0.55%	5.73%	-2.92%	0.00%	1.64%	-4.85%	4.46%	2.32%
Operating Cash Flow Q/Q Growth	7.61%	-4.79%	-14.49%	45.69%	-8.15%	-13.85%	-0.32%	8.86%	12.63%	-5.49%
Free Cash Flow Firm Q/Q Growth	13.16%	-2.18%	-18.46%	10.89%	-39.13%	0.48%	92.17%	-60.95%	8.28%	145.57%
Invested Capital Q/Q Growth	-1.17%	-0.12%	0.44%	-1.26%	2.91%	-1.70%	-1.33%	8.99%	-2.56%	-2.83%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	16.96%	16.51%	17.37%	16.93%	19.00%	19.84%	20.74%	21.78%	22.66%	19.52%
EBITDA Margin	11.12%	10.94%	12.43%	11.70%	13.59%	14.25%	13.73%	15.08%	15.35%	12.99%
Operating Margin	8.96%	8.85%	10.54%	9.86%	11.45%	12.18%	11.74%	13.49%	13.90%	11.52%
EBIT Margin	8.96%	8.85%	10.54%	9.86%	11.45%	12.51%	12.03%	13.65%	13.97%	11.55%
Profit (Net Income) Margin	6.75%	6.55%	8.03%	7.98%	9.45%	10.31%	10.61%	9.24%	9.35%	7.42%
Tax Burden Percent	77.71%	78.24%	78.26%	80.73%	81.49%	80.94%	85.72%	66.25%	67.61%	65.01%
Interest Burden Percent	96.96%	94.54%	97.37%	100.32%	101.32%	101.78%	102.83%	102.15%	99.03%	98.78%
Effective Tax Rate	22.29%	21.76%	21.74%	19.27%	18.51%	19.06%	14.28%	33.75%	32.39%	34.99%
Return on Invested Capital (ROIC)	8.60%	8.61%	10.67%	11.81%	16.10%	17.17%	18.86%	18.80%	22.32%	19.24%
ROIC Less NNEP Spread (ROIC-NNEP)	7.18%	6.43%	9.53%	12.10%	14.15%	3.43%	-10.46%	10.64%	24.41%	22.55%
Return on Net Nonoperating Assets (RNNOA)	1.62%	1.77%	3.11%	1.75%	-1.40%	-0.18%	0.35%	-0.76%	-1.25%	-1.18%
Return on Equity (ROE)	10.22%	10.38%	13.78%	13.56%	14.70%	16.98%	19.21%	18.04%	21.07%	18.05%
Cash Return on Invested Capital (CROIC)	10.57%	8.53%	8.48%	-36.36%	6.85%	22.43%	-0.86%	8.03%	16.66%	3.16%
Operating Return on Assets (OROA)	7.94%	8.01%	10.10%	9.93%	12.21%	14.63%	15.20%	18.76%	21.26%	18.46%
Return on Assets (ROA)	5.99%	5.93%	7.69%	8.04%	10.08%	12.05%	13.40%	12.69%	14.24%	11.85%
Return on Common Equity (ROCE)	10.21%	10.37%	13.77%	13.55%	14.69%	16.97%	19.19%	18.03%	21.05%	18.03%
Return on Equity Simple (ROE_SIMPLE)	10.07%	10.25%	13.27%	13.04%	14.14%	16.54%	18.08%	17.16%	20.02%	17.19%
Net Operating Profit after Tax (NOPAT)	830	839	1,027	906	897	937	961	820	895	694
NOPAT Margin	6.96%	6.93%	8.25%	7.96%	9.33%	9.86%	10.07%	8.94%	9.40%	7.49%
Net Nonoperating Expense Percent (NNEP)	1.42%	2.18%	1.14%	-0.30%	1.94%	13.74%	29.32%	8.16%	-2.09%	-3.31%
Cost of Revenue to Revenue	83.04%	83.49%	82.63%	83.07%	81.00%	80.16%	79.26%	78.22%	77.34%	80.48%
SG&A Expenses to Revenue	8.43%	7.78%	7.06%	7.49%	7.92%	7.66%	8.81%	8.28%	9.16%	8.03%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	8.00%	7.66%	6.84%	7.07%	7.55%	7.66%	8.99%	8.28%	8.76%	8.00%
Earnings before Interest and Taxes (EBIT)	1,068	1,072	1,313	1,123	1,100	1,189	1,149	1,252	1,330	1,070
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,326	1,325	1,548	1,332	1,306	1,354	1,311	1,383	1,462	1,204
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.13	2.14	3.19	3.05	3.78	3.26	3.42	2.78	3.81	3.73
Price to Tangible Book Value (P/TBV)	12.74	15.78	29.85	96.10	8.88	8.01	11.40	7.66	9.90	10.13
Price to Revenue (P/Rev)	1.43	1.37	1.93	1.87	2.53	2.03	2.00	1.49	1.78	1.61
Price to Earnings (P/E)	21.16	20.87	24.07	23.42	26.75	19.69	18.91	16.18	19.02	21.72
Dividend Yield	3.64%	3.63%	2.36%	2.50%	2.07%	2.33%	2.09%	2.62%	1.81%	1.78%
Earnings Yield	4.73%	4.79%	4.15%	4.27%	3.74%	5.08%	5.29%	6.18%	5.26%	4.60%
Enterprise Value to Invested Capital (EV/IC)	1.93	1.89	2.68	2.49	4.04	3.49	3.40	2.89	4.01	3.78
Enterprise Value to Revenue (EV/Rev)	1.54	1.52	2.10	2.08	2.45	1.95	1.99	1.45	1.74	1.59
Enterprise Value to EBITDA (EV/EBITDA)	13.89	13.88	16.86	17.78	18.04	13.70	14.52	9.60	11.30	12.24
Enterprise Value to EBIT (EV/EBIT)	17.24	17.16	19.89	21.10	21.41	15.61	16.57	10.60	12.43	13.77
Enterprise Value to NOPAT (EV/NOPAT)	22.19	21.93	25.41	26.13	26.28	19.81	19.81	16.19	18.47	21.23
Enterprise Value to Operating Cash Flow (EV/OCF)	14.54	17.55	23.00	23.64	20.89	20.10	15.33	12.83	15.89	14.85
Enterprise Value to Free Cash Flow (EV/FCFF)	18.07	22.14	31.98	0.00	61.78	15.16	0.00	37.90	24.74	129.32
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.43	0.44	0.48	0.20	0.04	0.11	0.05	0.06	0.11
Long-Term Debt to Equity	0.36	0.30	0.44	0.48	0.16	0.04	0.11	0.05	0.06	0.06
Financial Leverage	0.23	0.27	0.33	0.14	-0.10	-0.05	-0.03	-0.07	-0.05	-0.05
Leverage Ratio	1.71	1.75	1.79	1.69	1.46	1.41	1.43	1.42	1.48	1.52
Compound Leverage Factor	1.66	1.66	1.74	1.69	1.48	1.43	1.47	1.45	1.47	1.50
Debt to Total Capital	26.32%	29.95%	30.44%	32.26%	16.86%	4.05%	10.03%	4.82%	5.32%	9.81%
Short-Term Debt to Total Capital	0.07%	8.60%	0.08%	0.09%	3.34%	0.00%	0.00%	0.00%	0.00%	4.17%
Long-Term Debt to Total Capital	26.25%	21.35%	30.36%	32.18%	13.51%	4.05%	10.03%	4.82%	5.32%	5.64%
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%
Noncontrolling Interests to Total Capital	0.10%	0.04%	0.05%	0.05%	0.06%	0.07%	0.06%	0.07%	0.07%	0.07%
Common Equity to Total Capital	73.59%	70.01%	69.52%	67.68%	83.08%	95.89%	89.91%	95.11%	94.61%	90.12%
Debt to EBITDA	2.16	2.50	2.13	2.50	1.00	0.18	0.48	0.18	0.17	0.36
Net Debt to EBITDA	1.04	1.38	1.31	1.79	-0.56	-0.54	-0.08	-0.32	-0.28	-0.14
Long-Term Debt to EBITDA	2.15	1.78	2.13	2.49	0.80	0.18	0.48	0.18	0.17	0.21
Debt to NOPAT	3.44	3.95	3.21	3.67	1.45	0.27	0.65	0.31	0.28	0.63
Net Debt to NOPAT	1.65	2.18	1.98	2.64	-0.82	-0.78	-0.11	-0.53	-0.45	-0.25
Long-Term Debt to NOPAT	3.44	2.81	3.20	3.66	1.17	0.27	0.65	0.31	0.28	0.36
Altman Z-Score	4.00	3.77	4.73	4.33	6.70	8.20	7.28	7.15	8.70	7.39
Noncontrolling Interest Sharing Ratio	0.09%	0.06%	0.07%	0.08%	0.07%	0.07%	0.07%	0.08%	0.08%	0.13%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.32	1.43	2.47	2.08	2.38	2.14	1.80	1.92	1.93	1.70
Quick Ratio	1.13	0.68	1.27	1.08	1.62	1.14	0.93	1.00	0.96	0.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,019	831	816	-2,791	381	1,224	-44	350	668	114
Operating Cash Flow to CapEx	494.88%	395.58%	408.72%	435.25%	308.55%	359.93%	326.89%	475.28%	417.18%	790.04%
Free Cash Flow to Firm to Interest Expense	12.60	11.32	13.06	-64.44	18.10	67.71	-1.66	27.60	51.90	8.69
Operating Cash Flow to Interest Expense	15.66	14.28	18.16	23.14	53.54	51.08	46.87	81.52	80.80	75.66
Operating Cash Flow Less CapEx to Interest Expense	12.50	10.67	13.71	17.82	36.19	36.89	32.53	64.37	61.43	66.08
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.89	0.91	0.96	1.01	1.07	1.17	1.26	1.37	1.52	1.60
Accounts Receivable Turnover	14.58	14.37	14.13	14.25	15.05	16.17	15.66	15.16	15.91	15.25
Inventory Turnover	6.08	5.95	6.67	7.75	7.36	7.59	8.03	7.52	7.44	7.28
Fixed Asset Turnover	5.47	5.62	5.86	5.68	5.45	6.05	7.03	7.94	9.00	9.20
Accounts Payable Turnover	13.14	12.73	12.79	13.16	12.61	12.59	12.92	13.86	15.07	15.22
Days Sales Outstanding (DSO)	25.04	25.39	25.83	25.62	24.25	22.58	23.30	24.08	22.94	23.94
Days Inventory Outstanding (DIO)	60.04	61.31	54.70	47.12	49.60	48.09	45.46	48.53	49.04	50.13
Days Payable Outstanding (DPO)	27.78	28.67	28.54	27.75	28.95	28.98	28.26	26.33	24.21	23.97
Cash Conversion Cycle (CCC)	57.29	58.04	51.99	44.99	44.90	41.68	40.50	46.28	47.76	50.10
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,553	9,742	9,734	9,523	5,827	5,311	5,598	4,593	4,124	3,897
Invested Capital Turnover	1.24	1.24	1.29	1.48	1.73	1.74	1.87	2.10	2.37	2.57
Increase / (Decrease) in Invested Capital	-189	7.88	211	3,697	515	-287	1,005	470	227	580
Enterprise Value (EV)	18,415	18,394	26,106	23,684	23,561	18,551	19,034	13,269	16,528	14,733
Market Capitalization	17,032	16,559	24,072	21,288	24,293	19,274	19,138	13,702	16,930	14,901
Book Value per Share	$14.58	$14.15	$13.80	$12.85	$11.91	$11.09	$10.51	$9.35	$8.41	$15.12
Tangible Book Value per Share	$2.44	$1.92	$1.48	$0.41	$5.07	$4.51	$3.15	$3.39	$3.23	$5.56
Total Capital	10,863	11,048	10,840	10,302	7,734	6,176	6,230	5,190	4,701	4,436
Total Debt	2,859	3,309	3,299	3,324	1,304	250	625	250	250	435
Total Long-Term Debt	2,851	2,359	3,291	3,315	1,045	250	625	250	250	250
Net Debt	1,373	1,831	2,030	2,390	-736	-727	-107	-436	-405	-171
Capital Expenditures (CapEx)	256	265	278	230	366	256	380	218	249	126
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,088	1,183	1,174	906	602	569	452	524	562	687
Debt-free Net Working Capital (DFNWC)	1,855	1,936	2,173	1,541	2,334	1,256	911	968	977	1,034
Net Working Capital (NWC)	1,847	985	2,164	1,532	2,075	1,256	911	968	977	849
Net Nonoperating Expense (NNE)	25	46	27	-2.88	-12	-43	-52	-27	4.52	6.62
Net Nonoperating Obligations (NNO)	1,549	2,003	2,194	2,545	-604	-614	-6.37	-346	-327	-105
Total Depreciation and Amortization (D&A)	258	253	236	209	206	165	162	131	132	133
Debt-free, Cash-free Net Working Capital to Revenue	9.13%	9.77%	9.43%	7.96%	6.27%	5.99%	4.74%	5.72%	5.90%	7.41%
Debt-free Net Working Capital to Revenue	15.56%	15.99%	17.44%	13.53%	24.29%	13.23%	9.55%	10.56%	10.26%	11.16%
Net Working Capital to Revenue	15.50%	8.14%	17.37%	13.46%	21.60%	13.23%	9.55%	10.56%	10.26%	9.16%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.47	$1.45	$1.84	$1.68	$1.69	$1.83	$1.91	$1.60	$1.68	$1.30
Adjusted Weighted Average Basic Shares Outstanding	548.13M	546.42M	544.92M	541.11M	538.01M	534.58M	530.74M	528.36M	529.29M	528.14M
Adjusted Diluted Earnings per Share	$1.47	$1.45	$1.82	$1.66	$1.66	$1.80	$1.86	$1.57	$1.64	$1.27
Adjusted Weighted Average Diluted Shares Outstanding	548.83M	548.98M	549.57M	547.58M	546.59M	545.23M	543.87M	539.12M	542.47M	541.00M
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
Adjusted Weighted Average Basic & Diluted Shares Outstanding	549.01M	546.84M	546.42M	542.57M	539.92M	534.74M	534.60M	529.59M	528.80M	528.46M
Normalized Net Operating Profit after Tax (NOPAT)	830	861	1,027	906	897	937	976	820	896	708
Normalized NOPAT Margin	6.96%	7.11%	8.25%	7.96%	9.33%	9.86%	10.22%	8.94%	9.41%	7.64%
Pre Tax Income Margin	8.69%	8.37%	10.26%	9.89%	11.60%	12.74%	12.38%	13.95%	13.83%	11.41%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	13.20	14.61	21.00	25.92	52.22	65.78	43.36	98.69	103.34	81.63
NOPAT to Interest Expense	10.26	11.43	16.43	20.93	42.55	51.83	36.27	64.62	69.54	52.92
EBIT Less CapEx to Interest Expense	10.04	11.00	16.55	20.61	34.87	51.59	29.02	81.54	83.97	72.05
NOPAT Less CapEx to Interest Expense	7.09	7.82	11.99	15.61	25.20	37.64	21.93	47.47	50.17	43.35
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	76.43%	74.78%	55.77%	57.54%	53.65%	44.64%	38.33%	40.85%	33.29%	38.43%
Augmented Payout Ratio	76.43%	76.33%	55.77%	59.73%	55.02%	62.43%	42.96%	52.00%	43.16%	42.06%

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	1/26/2025	10/27/2024	7/28/2024	4/28/2024	1/28/2024	10/29/2023	7/30/2023	4/30/2023	1/29/2023	10/30/2022	7/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.27%	-1.88%	-2.19%	-3.03%	0.87%	-2.60%	-2.34%	-3.84%	-2.41%	-4.96%	5.96%
EBITDA Growth	-15.58%	8.68%	6.95%	-11.63%	-0.70%	-20.22%	-21.15%	-9.91%	-8.59%	-4.34%	33.56%
EBIT Growth	-19.73%	9.05%	9.20%	-14.70%	-1.73%	-26.45%	-25.52%	-11.63%	-9.45%	-4.63%	40.27%
NOPAT Growth	-18.05%	7.71%	9.19%	-15.14%	-2.75%	-25.32%	-22.76%	-15.33%	-9.69%	-6.61%	22.15%
Net Income Growth	-22.04%	12.52%	8.71%	-12.89%	0.50%	-30.19%	-25.71%	-16.99%	-9.20%	-0.62%	23.58%
EPS Growth	-22.50%	17.14%	6.67%	-15.00%	0.00%	-30.00%	-25.00%	-16.67%	-9.09%	-1.96%	25.00%
Operating Cash Flow Growth	-23.46%	28.06%	-31.23%	13.46%	98.39%	-14.18%	70.39%	7.64%	-46.94%	-34.09%	143.11%
Free Cash Flow Firm Growth	-18.49%	103.41%	154.27%	396.42%	504.17%	169.64%	-38.14%	102.16%	97.24%	102.26%	104.56%
Invested Capital Growth	-1.24%	-1.95%	-0.90%	-1.63%	-1.51%	0.08%	0.64%	1.64%	3.33%	2.21%	0.48%
Revenue Q/Q Growth	-4.76%	8.27%	0.38%	-3.66%	-6.29%	7.92%	-0.48%	0.22%	-9.52%	8.21%	-2.01%
EBITDA Q/Q Growth	-12.69%	12.19%	-4.94%	-9.34%	12.41%	10.40%	-21.45%	1.88%	-9.69%	9.11%	-10.26%
EBIT Q/Q Growth	-22.46%	24.41%	-6.19%	-11.29%	5.33%	24.58%	-26.72%	2.19%	-21.17%	26.16%	-13.05%
NOPAT Q/Q Growth	-22.81%	24.81%	-5.23%	-10.25%	1.46%	26.53%	-26.34%	2.85%	-22.10%	30.88%	-19.25%
Net Income Q/Q Growth	-22.47%	24.46%	-6.59%	-13.50%	11.89%	20.24%	-25.16%	-0.20%	-22.27%	27.96%	-16.38%
EPS Q/Q Growth	-24.39%	28.13%	-5.88%	-15.00%	14.29%	16.67%	-25.00%	0.00%	-20.00%	25.00%	-16.67%
Operating Cash Flow Q/Q Growth	-24.33%	87.45%	-7.69%	-41.54%	26.60%	0.66%	52.31%	2.21%	-45.23%	99.85%	-3.78%
Free Cash Flow Firm Q/Q Growth	-29.22%	54.13%	-23.26%	-2.62%	76.61%	92.67%	49.82%	179.28%	-217.83%	-55.80%	105.24%
Invested Capital Q/Q Growth	-0.63%	-1.17%	-0.01%	0.57%	-1.33%	-0.12%	-0.75%	0.69%	0.26%	0.44%	0.24%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	15.90%	16.61%	16.85%	17.45%	16.98%	16.09%	16.81%	16.50%	16.69%	17.25%	16.68%
EBITDA Margin	9.84%	10.74%	10.36%	10.94%	11.63%	9.69%	9.48%	12.01%	11.81%	11.84%	11.74%
Operating Margin	7.64%	9.38%	8.17%	8.74%	9.49%	8.44%	7.31%	9.93%	9.74%	11.18%	9.59%
EBIT Margin	7.64%	9.38%	8.17%	8.74%	9.49%	8.44%	7.31%	9.93%	9.74%	11.18%	9.59%
Profit (Net Income) Margin	5.71%	7.01%	6.10%	6.55%	7.30%	6.11%	5.49%	7.29%	7.33%	8.53%	7.21%
Tax Burden Percent	78.20%	78.55%	78.30%	77.50%	76.60%	79.53%	78.30%	77.90%	77.40%	78.33%	75.50%
Interest Burden Percent	95.51%	95.09%	95.36%	96.76%	100.39%	91.03%	95.79%	94.27%	97.15%	97.37%	99.59%
Effective Tax Rate	21.80%	21.45%	21.70%	22.50%	23.40%	20.47%	21.70%	22.10%	22.60%	21.67%	24.50%
Return on Invested Capital (ROIC)	7.45%	9.11%	7.89%	8.37%	9.11%	8.35%	7.18%	9.74%	9.73%	11.33%	9.46%
ROIC Less NNEP Spread (ROIC-NNEP)	6.95%	8.47%	7.44%	8.05%	9.15%	7.43%	6.86%	9.15%	9.44%	11.01%	9.42%
Return on Net Nonoperating Assets (RNNOA)	1.40%	1.91%	1.82%	2.02%	2.31%	2.04%	1.98%	2.71%	2.87%	3.59%	3.44%
Return on Equity (ROE)	8.85%	11.02%	9.71%	10.39%	11.42%	10.39%	9.17%	12.45%	12.60%	14.93%	12.90%
Cash Return on Invested Capital (CROIC)	9.53%	10.57%	9.28%	9.83%	10.12%	8.53%	8.74%	8.24%	7.17%	8.48%	10.36%
Operating Return on Assets (OROA)	6.76%	8.32%	7.37%	7.67%	8.60%	7.64%	6.72%	9.22%	9.24%	10.72%	9.51%
Return on Assets (ROA)	5.05%	6.22%	5.51%	5.75%	6.61%	5.53%	5.04%	6.77%	6.95%	8.17%	7.15%
Return on Common Equity (ROCE)	8.84%	11.01%	9.71%	10.38%	11.41%	10.39%	9.16%	12.44%	12.59%	14.92%	12.89%
Return on Equity Simple (ROE_SIMPLE)	9.42%	0.00%	9.92%	9.71%	10.12%	0.00%	11.38%	12.15%	12.85%	0.00%	13.61%
Net Operating Profit after Tax (NOPAT)	179	231	185	196	218	215	170	230	224	288	220
NOPAT Margin	5.97%	7.37%	6.39%	6.77%	7.27%	6.72%	5.73%	7.74%	7.54%	8.76%	7.24%
Net Nonoperating Expense Percent (NNEP)	0.50%	0.64%	0.45%	0.32%	-0.04%	0.92%	0.33%	0.59%	0.29%	0.32%	0.04%
Return On Investment Capital (ROIC_SIMPLE)	1.64%	-	-	-	1.95%	-	-	-	-	-	-
Cost of Revenue to Revenue	84.10%	83.39%	83.15%	82.55%	83.02%	83.91%	83.19%	83.50%	83.31%	82.75%	83.32%
SG&A Expenses to Revenue	8.80%	7.60%	8.96%	9.24%	8.02%	6.77%	9.82%	7.14%	7.47%	6.29%	7.32%
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	8.26%	6.97%	8.96%	8.71%	7.48%	7.34%	9.82%	6.57%	6.95%	6.07%	7.09%
Earnings before Interest and Taxes (EBIT)	228	294	237	252	284	270	217	296	289	367	291
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	294	337	300	316	349	310	281	358	351	389	356
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.11	2.13	2.23	2.43	2.08	2.14	2.81	2.76	3.07	3.19	3.45
Price to Tangible Book Value (P/TBV)	12.25	12.74	14.63	15.87	14.09	15.78	21.85	22.04	26.34	29.85	40.65
Price to Revenue (P/Rev)	1.42	1.43	1.47	1.59	1.35	1.37	1.78	1.73	1.89	1.93	2.01
Price to Earnings (P/E)	22.40	21.16	22.48	25.00	20.56	20.87	24.68	22.71	23.89	24.07	25.32
Dividend Yield	3.68%	3.64%	3.51%	3.19%	3.71%	3.63%	2.74%	2.76%	2.47%	2.36%	2.21%
Earnings Yield	4.46%	4.73%	4.45%	4.00%	4.86%	4.79%	4.05%	4.40%	4.19%	4.15%	3.95%
Enterprise Value to Invested Capital (EV/IC)	1.92	1.93	1.98	2.15	1.87	1.89	2.41	2.36	2.60	2.68	2.84
Enterprise Value to Revenue (EV/Rev)	1.53	1.54	1.60	1.72	1.48	1.52	1.93	1.89	2.05	2.10	2.18
Enterprise Value to EBITDA (EV/EBITDA)	14.63	13.89	15.04	16.54	13.83	13.88	17.08	15.94	16.99	16.86	17.84
Enterprise Value to EBIT (EV/EBIT)	18.03	17.24	18.38	20.29	16.81	17.16	20.13	18.63	19.77	19.89	20.70
Enterprise Value to NOPAT (EV/NOPAT)	23.07	22.19	23.59	26.04	21.55	21.93	25.81	24.09	25.28	25.41	26.29
Enterprise Value to Operating Cash Flow (EV/OCF)	15.57	14.54	16.29	16.27	14.37	17.55	21.39	23.90	26.55	23.00	20.74
Enterprise Value to Free Cash Flow (EV/FCFF)	20.05	18.07	21.29	21.69	18.31	22.14	27.71	28.86	36.81	31.98	27.50
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.36	0.36	0.36	0.48	0.42	0.43	0.43	0.43	0.43	0.44	0.45
Long-Term Debt to Equity	0.35	0.36	0.36	0.36	0.30	0.30	0.31	0.43	0.43	0.44	0.45
Financial Leverage	0.20	0.23	0.25	0.25	0.25	0.27	0.29	0.30	0.30	0.33	0.37
Leverage Ratio	1.69	1.71	1.70	1.76	1.73	1.75	1.76	1.76	1.77	1.79	1.80
Compound Leverage Factor	1.62	1.62	1.62	1.70	1.74	1.59	1.69	1.66	1.72	1.74	1.79
Debt to Total Capital	26.21%	26.32%	26.64%	32.55%	29.67%	29.95%	30.00%	30.04%	30.23%	30.44%	30.96%
Short-Term Debt to Total Capital	0.07%	0.07%	0.08%	8.18%	8.55%	8.60%	8.59%	0.08%	0.08%	0.08%	0.08%
Long-Term Debt to Total Capital	26.14%	26.25%	26.56%	24.37%	21.12%	21.35%	21.41%	29.96%	30.15%	30.36%	30.87%
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	0.09%	0.10%	0.09%	0.09%	0.04%	0.04%	0.04%	0.05%	0.05%	0.05%	0.05%
Common Equity to Total Capital	73.63%	73.59%	73.27%	67.37%	70.29%	70.01%	69.96%	69.91%	69.72%	69.52%	68.99%
Debt to EBITDA	2.29	2.16	2.24	3.04	2.55	2.50	2.40	2.27	2.21	2.13	2.14
Net Debt to EBITDA	1.03	1.04	1.27	1.27	1.23	1.38	1.36	1.35	1.33	1.31	1.40
Long-Term Debt to EBITDA	2.28	2.15	2.24	2.27	1.82	1.78	1.71	2.27	2.21	2.13	2.13
Debt to NOPAT	3.61	3.44	3.52	4.78	3.98	3.95	3.63	3.44	3.29	3.21	3.15
Net Debt to NOPAT	1.62	1.65	1.99	1.99	1.92	2.18	2.06	2.04	1.98	1.98	2.06
Long-Term Debt to NOPAT	3.60	3.44	3.51	3.58	2.83	2.81	2.59	3.43	3.28	3.20	3.15
Altman Z-Score	3.82	3.81	3.95	3.65	3.58	3.57	4.10	4.21	4.42	4.50	4.62
Noncontrolling Interest Sharing Ratio	0.14%	0.09%	0.09%	0.10%	0.06%	0.06%	0.07%	0.07%	0.07%	0.07%	0.08%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.45	2.32	2.29	1.73	1.49	1.43	1.40	2.42	2.33	2.47	2.40
Quick Ratio	1.23	1.13	0.98	0.97	0.77	0.68	0.63	1.04	1.02	1.27	1.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	298	421	273	356	365	207	107	72	-90	77	174
Operating Cash Flow to CapEx	428.67%	487.95%	333.08%	396.38%	855.85%	313.86%	408.10%	388.95%	635.63%	415.19%	308.22%
Free Cash Flow to Firm to Interest Expense	15.30	21.66	12.72	16.41	19.94	11.27	5.84	3.91	-4.93	4.36	11.12
Operating Cash Flow to Interest Expense	15.89	21.03	10.16	10.89	22.04	17.38	17.25	11.36	11.10	21.12	11.91
Operating Cash Flow Less CapEx to Interest Expense	12.18	16.72	7.11	8.14	19.47	11.84	13.03	8.44	9.35	16.04	8.05
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.89	0.89	0.90	0.88	0.91	0.91	0.92	0.93	0.95	0.96	0.99
Accounts Receivable Turnover	15.69	14.58	15.83	16.13	15.78	14.37	15.35	15.75	15.48	14.13	14.87
Inventory Turnover	6.41	6.08	5.88	5.86	6.12	5.95	5.94	6.11	6.59	6.67	6.73
Fixed Asset Turnover	5.50	5.47	5.57	5.63	5.67	5.62	5.74	5.78	5.86	5.86	6.04
Accounts Payable Turnover	13.66	13.14	14.46	13.90	13.42	12.73	13.50	12.94	13.13	12.79	14.39
Days Sales Outstanding (DSO)	23.27	25.04	23.05	22.63	23.13	25.39	23.78	23.17	23.57	25.83	24.55
Days Inventory Outstanding (DIO)	56.91	60.04	62.04	62.27	59.64	61.31	61.48	59.77	55.40	54.70	54.22
Days Payable Outstanding (DPO)	26.73	27.78	25.25	26.26	27.20	28.67	27.03	28.20	27.81	28.54	25.37
Cash Conversion Cycle (CCC)	53.46	57.29	59.84	58.65	55.58	58.04	58.22	54.74	51.17	51.99	53.40
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	9,493	9,553	9,666	9,667	9,612	9,742	9,754	9,827	9,760	9,734	9,691
Invested Capital Turnover	1.25	1.24	1.23	1.24	1.25	1.24	1.25	1.26	1.29	1.29	1.31
Increase / (Decrease) in Invested Capital	-119	-189	-88	-160	-147	7.88	62	159	314	211	46
Enterprise Value (EV)	18,244	18,415	19,179	20,769	17,941	18,394	23,537	23,169	25,356	26,106	27,533
Market Capitalization	16,954	17,032	17,551	19,168	16,336	16,559	21,655	21,201	23,368	24,072	25,371
Book Value per Share	$14.62	$14.58	$14.35	$14.40	$14.34	$14.15	$14.12	$14.06	$13.93	$13.80	$13.48
Tangible Book Value per Share	$2.52	$2.44	$2.19	$2.21	$2.12	$1.92	$1.81	$1.76	$1.62	$1.48	$1.14
Total Capital	10,904	10,863	10,737	11,706	11,160	11,048	11,025	10,995	10,920	10,840	10,670
Total Debt	2,857	2,859	2,860	3,810	3,311	3,309	3,307	3,303	3,301	3,299	3,303
Total Long-Term Debt	2,850	2,851	2,852	2,853	2,357	2,359	2,360	3,294	3,293	3,291	3,294
Net Debt	1,281	1,373	1,618	1,590	1,601	1,831	1,877	1,963	1,982	2,030	2,157
Capital Expenditures (CapEx)	72	84	65	60	47	102	78	54	32	90	60
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,075	1,088	1,134	1,120	1,078	1,183	1,195	1,268	1,213	1,174	1,124
Debt-free Net Working Capital (DFNWC)	1,941	1,855	1,696	2,629	2,060	1,936	1,881	1,866	1,831	2,173	1,992
Net Working Capital (NWC)	1,934	1,847	1,688	1,672	1,106	985	934	1,857	1,822	2,164	1,984
Net Nonoperating Expense (NNE)	8.02	11	8.59	6.34	-0.85	19	7.15	13	6.39	7.57	0.91
Net Nonoperating Obligations (NNO)	1,446	1,549	1,789	1,770	1,764	2,003	2,036	2,135	2,141	2,194	2,324
Total Depreciation and Amortization (D&A)	66	42	64	64	64	40	64	62	62	21	65
Debt-free, Cash-free Net Working Capital to Revenue	9.02%	9.13%	9.47%	9.29%	8.89%	9.77%	9.80%	10.34%	9.80%	9.43%	8.90%
Debt-free Net Working Capital to Revenue	16.30%	15.56%	14.16%	21.83%	16.98%	15.99%	15.42%	15.21%	14.78%	17.44%	15.78%
Net Working Capital to Revenue	16.24%	15.50%	14.09%	13.88%	9.12%	8.14%	7.66%	15.14%	14.71%	17.37%	15.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.31	$0.40	$0.32	$0.35	$0.40	$0.35	$0.30	$0.40	$0.40	$0.52	$0.40
Adjusted Weighted Average Basic Shares Outstanding	549.46M	548.13M	548.69M	547.87M	547.02M	546.42M	546.36M	546.42M	546.38M	544.92M	546.08M
Adjusted Diluted Earnings per Share	$0.31	$0.41	$0.32	$0.34	$0.40	$0.35	$0.30	$0.40	$0.40	$0.50	$0.40
Adjusted Weighted Average Diluted Shares Outstanding	549.85M	548.83M	549.27M	548.69M	547.92M	548.98M	548.64M	549.01M	550.03M	549.57M	550.17M
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	549.91M	549.01M	548.36M	548.31M	547.69M	546.84M	546.48M	546.27M	546.53M	546.42M	546.20M
Normalized Net Operating Profit after Tax (NOPAT)	179	231	185	196	218	215	170	230	224	288	220
Normalized NOPAT Margin	5.97%	7.37%	6.39%	6.77%	7.27%	6.72%	5.73%	7.74%	7.54%	8.76%	7.24%
Pre Tax Income Margin	7.30%	8.92%	7.79%	8.46%	9.53%	7.69%	7.01%	9.36%	9.46%	10.89%	9.55%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.73	15.16	11.03	11.64	15.52	14.71	11.80	16.14	15.78	20.86	18.64
NOPAT to Interest Expense	9.17	11.90	8.64	9.02	11.89	11.70	9.24	12.58	12.21	16.34	14.07
EBIT Less CapEx to Interest Expense	8.03	10.85	7.98	8.89	12.95	9.17	7.57	13.22	14.03	15.77	14.77
NOPAT Less CapEx to Interest Expense	5.47	7.59	5.59	6.27	9.31	6.16	5.01	9.66	10.46	11.25	10.21
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	81.92%	76.43%	78.23%	79.03%	75.72%	74.78%	66.61%	61.73%	57.96%	55.77%	54.78%
Augmented Payout Ratio	81.92%	76.43%	78.23%	79.03%	75.72%	76.33%	68.01%	63.05%	57.96%	55.77%	55.80%

Frequently Asked Questions About Hormel Foods' Financials

When does Hormel Foods's fiscal year end?

According to the most recent income statement we have on file, Hormel Foods' financial year ends in October. Their financial year 2024 ended on October 27, 2024.

How has Hormel Foods' net income changed over the last 9 years?

Hormel Foods' net income were at $804.63 million at the end of 2024, a 1.5% increase from 2023, and a 17.1% increase since 2015. View Hormel Foods' forecast to see where analysts expect Hormel Foods to go next.

What is Hormel Foods's operating income?

Hormel Foods's total operating income in 2024 was $1.07 billion, based on the following breakdown:

Total Gross Profit: $2.02 billion
Total Operating Expenses: $954.21 million

How has Hormel Foods revenue changed over the last 9 years?

Over the last 9 years, Hormel Foods' total revenue changed from $9.26 billion in 2015 to $11.92 billion in 2024, a change of 28.7%.

How much debt does Hormel Foods have?

Hormel Foods' total liabilities were at $5.43 billion at the end of 2024, a 4.9% decrease from 2023, and a 154.0% increase since 2015.

How much cash does Hormel Foods have?

In the past 9 years, Hormel Foods' cash and equivalents has ranged from $347.24 million in 2015 to $1.71 billion in 2020, and is currently $741.88 million as of their latest financial filing in 2024.

How has Hormel Foods' book value per share changed over the last 9 years?

Over the last 9 years, Hormel Foods' book value per share changed from 15.12 in 2015 to 14.58 in 2024, a change of -3.6%.

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This page (NYSE:HRL) was last updated on 5/21/2025 by MarketBeat.com Staff

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Hormel Foods (HRL) Financials

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Hormel Foods (HRL) Financials

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