Hormel Foods (HRL) Financials

$30.55 +0.24 (+0.79%)

As of 03:58 PM 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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	686	890	847	1,012	979	908	909	1,000	794	805
Consolidated Net Income / (Loss)	687	891	847	1,013	979	908	909	1,000	793	805
Net Income / (Loss) Continuing Operations	687	891	847	1,013	979	908	909	1,000	793	805
Total Pre-Tax Income	1,057	1,317	1,279	1,181	1,210	1,115	1,126	1,278	1,013	1,035
Total Operating Income	1,067	1,324	1,237	1,121	1,157	1,100	1,123	1,313	1,072	1,068
Total Gross Profit	1,809	2,158	1,997	1,979	1,885	1,826	1,928	2,165	2,000	2,022
Total Revenue	9,264	9,523	9,168	9,546	9,497	9,608	11,386	12,459	12,110	11,921
Operating Revenue	9,264	9,523	9,168	9,546	9,497	9,608	11,386	12,459	12,110	11,921
Total Cost of Revenue	7,455	7,365	7,171	7,566	7,613	7,782	9,458	10,294	10,110	9,899
Operating Cost of Revenue	7,455	7,365	7,171	7,566	7,613	7,782	9,458	10,294	10,110	9,899
Total Operating Expenses	741	834	759	858	728	726	805	852	928	954
Selling, General & Admin Expense	744	872	759	841	728	761	853	879	942	1,005
Other Operating Expenses / (Income)	-24	-39	-	-	-	-36	-48	-27	-43	-51
Impairment Charge	22	0.99	0.18	17	-	-	0.00	0.00	28	0.00
Total Other Income / (Expense), net	-10	-6.68	41	60	53	15	3.57	-35	-59	-32
Interest Expense	13	13	13	26	18	21	43	63	73	81
Interest & Investment Income	-	-	40	59	39	36	47	28	15	48
Income Tax Expense	370	427	432	169	231	206	217	278	221	231
Net Income / (Loss) Attributable to Noncontrolling Interest	1.18	0.47	0.37	0.44	0.34	0.27	0.30	0.24	-0.65	-0.41
Basic Earnings per Share	$1.30	$1.68	$1.60	$1.91	$1.83	$1.69	$1.68	$1.84	$1.45	$1.47
Weighted Average Basic Shares Outstanding	528.14M	529.29M	528.36M	530.74M	534.58M	538.01M	541.11M	544.92M	546.42M	548.13M
Diluted Earnings per Share	$1.27	$1.64	$1.57	$1.86	$1.80	$1.66	$1.66	$1.82	$1.45	$1.47
Weighted Average Diluted Shares Outstanding	541.00M	542.47M	539.12M	543.87M	545.23M	546.59M	547.58M	549.57M	548.98M	548.83M
Weighted Average Basic & Diluted Shares Outstanding	527.80M	529.80M	529.20M	529.90M	534.74M	539.92M	542.57M	546.42M	546.84M	549.01M
Cash Dividends to Common per Share	$0.50	$0.58	$0.68	$0.75	$0.84	$0.93	$0.98	$1.04	$1.10	$1.13

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

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

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

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

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

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

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

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

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

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

Frequently Asked Questions About Hormel Foods' Financials

When does Hormel Foods's financial year end?

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

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

Below is a breakdown of Hormel Foods' net income over the past 5 years:

2020: $908.35 million
2021: $909.14 million
2022: $1.00 billion
2023: $792.92 million
2024: $804.63 million

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%.

Remove Ads

Related Companies

This page (NYSE:HRL) was last updated on 4/14/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Hormel Foods (HRL) Financials

Frequently Asked Questions About Hormel Foods' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Hormel Foods (HRL) Financials

Annual Income Statements for Hormel Foods

Quarterly Income Statements for Hormel Foods

Annual Cash Flow Statements for Hormel Foods

Quarterly Cash Flow Statements for Hormel Foods

Annual Balance Sheets for Hormel Foods

Quarterly Balance Sheets for Hormel Foods

Annual Metrics and Ratios for Hormel Foods

Quarterly Metrics and Ratios for Hormel Foods

Frequently Asked Questions About Hormel Foods' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools