NYSE: HRL
Hormel Foods
Consumer Staples · Meat Packing Plants
52-week range
$18.96$26.60
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jul 26, 2026. Hover or tap a column for another year.$13.9B
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| Period | Market cap |
|---|---|
| FY2016, ended Oct 30, 2016 | $20.2B |
| FY2017, ended Oct 29, 2017 | $16.1B |
| FY2018, ended Oct 28, 2018 | $22.0B |
| FY2019, ended Oct 27, 2019 | $21.7B |
| FY2020, ended Oct 25, 2020 | $26.8B |
| FY2021, ended Oct 31, 2021 | $23.0B |
| FY2022, ended Oct 30, 2022 | $25.7B |
| FY2023, ended Oct 29, 2023 | $17.2B |
| FY2024, ended Oct 27, 2024 | $17.1B |
| FY2025, ended Oct 26, 2025 | $13.1B |
| Trailing 12 months to Jul 26, 2026 (through Q3 FY2026) | $13.9B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jul 26, 2026. Hover or tap a column for another year.$12.1B
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| Period | Revenue |
|---|---|
| FY2016, ended Oct 30, 2016 | $9.52B |
| FY2017, ended Oct 29, 2017 | $9.17B |
| FY2018, ended Oct 28, 2018 | $9.55B |
| FY2019, ended Oct 27, 2019 | $9.50B |
| FY2020, ended Oct 25, 2020 | $9.61B |
| FY2021, ended Oct 31, 2021 | $11.4B |
| FY2022, ended Oct 30, 2022 | $12.5B |
| FY2023, ended Oct 29, 2023 | $12.1B |
| FY2024, ended Oct 27, 2024 | $11.9B |
| FY2025, ended Oct 26, 2025 | $12.1B |
| Trailing 12 months to Jul 26, 2026 (through Q3 FY2026) | $12.1B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jul 26, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Oct 30, 2016 | $890M | $784M |
| FY2017, ended Oct 29, 2017 | $847M | $813M |
| FY2018, ended Oct 28, 2018 | $1.01B | $852M |
| FY2019, ended Oct 27, 2019 | $979M | $629M |
| FY2020, ended Oct 25, 2020 | $908M | $761M |
| FY2021, ended Oct 31, 2021 | $909M | $770M |
| FY2022, ended Oct 30, 2022 | $1000M | $856M |
| FY2023, ended Oct 29, 2023 | $794M | $778M |
| FY2024, ended Oct 27, 2024 | $805M | $1.01B |
| FY2025, ended Oct 26, 2025 | $478M | $534M |
| Trailing 12 months to Jul 26, 2026 (through Q3 FY2026) | $343M | $781M |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jul 26, 2026. Hover or tap a column for another year.$840M
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Oct 30, 2016 | $415M |
| FY2017, ended Oct 29, 2017 | $444M |
| FY2018, ended Oct 28, 2018 | $459M |
| FY2019, ended Oct 27, 2019 | $673M |
| FY2020, ended Oct 25, 2020 | $1.71B |
| FY2021, ended Oct 31, 2021 | $614M |
| FY2022, ended Oct 30, 2022 | $982M |
| FY2023, ended Oct 29, 2023 | $737M |
| FY2024, ended Oct 27, 2024 | $742M |
| FY2025, ended Oct 26, 2025 | $671M |
| Trailing 12 months to Jul 26, 2026 (through Q3 FY2026) | $840M |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jul 26, 2026. Hover or tap a column for another year.$2.86B
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| Period | Total debt |
|---|---|
| FY2016, ended Oct 30, 2016 | $250M |
| FY2017, ended Oct 29, 2017 | $250M |
| FY2018, ended Oct 28, 2018 | $625M |
| FY2019, ended Oct 27, 2019 | $250M |
| FY2020, ended Oct 25, 2020 | $1.30B |
| FY2021, ended Oct 31, 2021 | $3.32B |
| FY2022, ended Oct 30, 2022 | $3.30B |
| FY2023, ended Oct 29, 2023 | $3.31B |
| FY2024, ended Oct 27, 2024 | $2.86B |
| FY2025, ended Oct 26, 2025 | $2.86B |
| Trailing 12 months to Jul 26, 2026 (through Q3 FY2026) | $2.86B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 4.1% since 2016.Figures shown are for the trailing 12 months to Jul 26, 2026. Hover or tap a column for another year.550M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Oct 30, 2016 | 529M |
| FY2017, ended Oct 29, 2017 | 530M |
| FY2018, ended Oct 28, 2018 | 535M |
| FY2019, ended Oct 27, 2019 | 535M |
| FY2020, ended Oct 25, 2020 | 540M |
| FY2021, ended Oct 31, 2021 | 543M |
| FY2022, ended Oct 30, 2022 | 546M |
| FY2023, ended Oct 29, 2023 | 547M |
| FY2024, ended Oct 27, 2024 | 549M |
| FY2025, ended Oct 26, 2025 | 550M |
| Trailing 12 months to Jul 26, 2026 (through Q3 FY2026) | 550M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jul 26, 2026. Hover or tap a column for another year.Net: $25.5M more issued than bought back
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Oct 30, 2016 | $87.9M | $17.8M |
| FY2017, ended Oct 29, 2017 | $94.5M | $15.6M |
| FY2018, ended Oct 28, 2018 | $46.9M | $20.6M |
| FY2019, ended Oct 27, 2019 | $174M | $19.7M |
| FY2020, ended Oct 25, 2020 | $12.4M | $22.5M |
| FY2021, ended Oct 31, 2021 | $20.0M | $24.7M |
| FY2022, ended Oct 30, 2022 | $0 | $24.9M |
| FY2023, ended Oct 29, 2023 | $12.3M | $24.1M |
| FY2024, ended Oct 27, 2024 | $0 | $23.2M |
| FY2025, ended Oct 26, 2025 | $0 | $25.6M |
| Trailing 12 months to Jul 26, 2026 (through Q3 FY2026) | — | $25.5M |
Revenue (TTM)
$12.1B
+0.7% YoY
Net income (TTM)
$343M
−54.6% YoY
Cash
$840M
+40.1% YoY
Total debt
$2.86B
−0.1% YoY
Valuation
At current price- Market Cap
- $11.7B
- P/E
- 34.2×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.0×
- Price / Book
- 1.5×
- EV / EBITDA
- 16.2×
Growth
Trailing 12 months- Revenue (TTM)
- $12.1B
- Revenue Growth YoY
- 0.7%
- Revenue CAGR 3Y
- −1.0%
- Revenue CAGR 5Y
- 4.7%
- EPS Growth YoY
- −54.7%
- Net Income Growth YoY
- −54.6%
Profitability
Trailing 12 months- Gross Margin
- 15.7%
- Operating Margin
- 4.7%
- Net Margin
- 2.8%
- FCF Margin
- 6.4%
- Return on Equity
- 4.3%
Earnings
Trailing 12 months- Net Income
- $343M
- EPS (diluted)
- $0.62
- EBITDA
- $846M
- Operating Income
- $574M
Balance Sheet
As of Jul 26, 2026- Cash and cash equivalents
- $840M
- Total Debt
- $2.86B
- Net Debt
- $2.02B
- Total Assets
- $13.3B
- Total Liabilities
- $5.43B
- Shareholders' Equity
- $7.84B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.09B
- Capital Expenditure
- $311M
- Free Cash Flow
- $781M
Dividends and risk
Last 12 months- Dividend Yield
- 5.5%
- Dividend / Share
- $1.17
- Beta (5Y)
- 0.30
Every ratio is calculated from the company’s reported figures.
Note
Revenue is roughly flat year over year at $12.1B.
Watch
Operating margin narrowed 3.7 pts in a year, to 4.7%.
Note
Net debt of $2.02B is 2.4× EBITDA.
Note
Free cash flow of $781M, 6.4% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Oct 26, 2025 · filed Dec 5, 2025
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K55Some concerns
55Some concerns
10-K for the fiscal year ended Oct 27, 2024
Filed Dec 5, 2024 · Read the filing on EDGAR
- Sales fell 1.6% to $11.9 billion while net earnings rose 1.4% to $805 million; excluding one-time items, earnings fell about 2%.
- Profit growth came from the small International segment, up 66.7%, while Retail, the largest segment, fell 2.6% and Foodservice was flat.
- Planters had a Listeria recall and production disruptions at its Suffolk plant; Hormel warns its $675 million trade name could be written down if problems persist.
- Fiscal 2025 guidance calls for 1% to 3% organic sales growth and EPS of $1.51 to $1.65, with earnings declining in the first half.
Business momentum
Mixed
“Segment profit increased 2 percent compared to prior year, as favorable results in the International segment were partially offset by unfavorable results in the Retail segment.”
Outlook
Positive
“Organic net sales(1) growth of 1 percent to 3 percent is expected in fiscal 2025”
Financial stress
Low
“Cash provided by operating activities has been sufficient to cover dividend payments and capital expenditures during fiscal 2024.”
Tone against the previous report
More positive
Red flags
- Medium
Large write-down
“Should the impact last longer, or be more severe than currently anticipated, it is likely the Company would have to recognize an impairment charge on this trade name, which is currently valued at $675 million.”
- Minor
Other
“During the third quarter of fiscal 2024, the Company voluntarily recalled a limited number of Planters® products due to the potential for contamination of the product with Listeria monocytogenes.”
- Minor
Major lawsuit
“In the second and third quarters of fiscal 2024, the Company entered into settlement agreements with certain plaintiffs in its pending antitrust litigation.”
Positives
International profit jumped on investments and better China results
“Segment profit increased significantly due to contribution from the Company’s minority investments, improved mix and favorable costs in the Company's China business, and favorable export product mix.”
Gross margin improved, helped by pricing and cost savings
“Gross profit as a percent of net sales for the fourth quarter and full year of fiscal 2024 increased, as pricing actions and cost savings from the Company's T&M initiative were partially offset by inflationary pressures.”
Dividend raised for the 59th straight year
“The annual dividend for 2025 will be $1.16 per share, representing an increase of 3 percent and marking the 59th consecutive year of dividend increases.”
Concerns
Retail sales and profit fell on turkey prices and weak convenient meals
“Declines in the Retail segment were driven primarily by significant year-over-year pricing declines for whole bird and commodity turkey and softness in the Convenient Meals & Proteins vertical.”
Earnings expected to decline in the first half of fiscal 2025
“Earnings are expected to decline in the first half of the year as growth in key categories and markets is expected to be offset by the recovery from a prior year production disruption”
Bird flu continues to reduce turkey production
“The impact of HPAI has reduced and the Company believes it will continue to reduce production volume in the Company’s turkey facilities.”
New risks since the previous report
Planters brand write-down if supply problems last
“Fiscal 2024 net sales for Planters® snack nuts were negatively impacted by production disruptions at the Suffolk, Virginia, facility.”
Weight-loss medications changing what consumers eat
“Consumer preferences for food products are impacted by a variety of factors, including convenience, flavor variety and developments in options for weight management (e.g., the use of medications).”
Possible tariffs hurting international business
“Risks to this outlook include macroeconomic conditions in multinational markets, cost inflation, and potential political tariffs.”
Outdated technology raising cyber and downtime risk
“Reliance on legacy technology for an extended period may also increase the Company’s IT maintenance expense and risk of system downtime”
Biggest risks named
- Slowing consumer demand and weaker economy
- Inflation and volatile raw material costs
- Planters supply disruption and possible $675 million write-down
- Bird flu and lower turkey prices
- Cost-saving and technology overhaul failing to deliver
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | +3 | |
| Tone against the previous report | +2 | |
| Financial stress | 0 | |
| Red flags | −5.1 | |
| New risks | −2 | |
| Score | 55 | |
Written by AI (Claude Opus 5.5) from the report’s text. 16 of 16 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Dec 5, 2025 | Pro | |||
| 10-K | Dec 5, 2024 | 55 | Mixed | 1 medium2 minor | |
| 10-K | Dec 6, 2023 | 44 | Weakening | 1 medium1 minor | |
| 10-K | Dec 6, 2022 | 67 | Improving | None | |
| 10-K | Dec 10, 2021 | 75 | Strong improvement | None | |
| 10-K | Dec 4, 2020 | 58 | Mixed | None | |
| 10-K | Dec 6, 2019 | 63 | Stable | 1 minor | |
| 10-K | Dec 7, 2018 | 59 | Mixed | 1 minor | |
| 10-K | Dec 20, 2017 | 53 | Weakening | None | |
| 10-K | Dec 21, 2016 | 77 | Strong improvement | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Jul 26, 2026), filed Aug 27, 2026. View filings on SEC EDGAR