Stocks CALM Financial statements
Financial statementsCAL-MAINE FOODS INC financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CAL-MAINE FOODS INC files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,075 | 1,503 | 1,361 | 1,352 | 1,349 | 1,777 | 3,146 | 2,326 | 4,262 | 2,912 |
| Cost of revenue | 1,029 | 1,142 | 1,138 | 1,172 | 1,188 | 1,440 | 1,950 | 1,785 | 2,411 | 2,240 |
| Gross profit | 45.6 | 361 | 223 | 180 | 161 | 337 | 1,196 | 542 | 1,851 | 672 |
| Selling, general and administrative | 176 | 179 | 177 | 178 | 184 | 199 | 232 | 253 | 314 | 329 |
| Operating income | -134 | 101 | 45.8 | 1.27 | -26.3 | 144 | 968 | 312 | 1,537 | 350 |
| Interest expense | 0.32 | 0.27 | 0.64 | 0.5 | 0.21 | 0.4 | 0.58 | 0.55 | 0.61 | |
| Interest income | 7.98 | 4.96 | 2.83 | 0.99 | 18.6 | 31.7 | 48.1 | 46.2 | ||
| Other non-operating income | 19.9 | 16.8 | 25 | 18.8 | 16.3 | 22.5 | 30.8 | 47.5 | 66.6 | 60.8 |
| Pre-tax income | -114 | 117 | 70.8 | 20.1 | -9.95 | 166 | 999 | 360 | 1,603 | 411 |
| Income tax | -39.9 | -8.86 | 15.7 | 1.73 | -12 | 33.6 | 242 | 83.7 | 385 | 92.9 |
| Net income to minority interests | -0.15 | 0.26 | 0.83 | -0.06 | 0 | |||||
| Net income | -74.3 | 126 | 54.2 | 18.4 | 2.06 | 133 | 758 | 278 | 1,220 | 317 |
| EBITDA | -85 | 155 | 100 | 59.4 | 33.2 | 212 | 1,040 | 393 | 1,631 | 475 |
| EPS, basic | -1.54 | 2.60 | 1.12 | 0.38 | 0.04 | 2.73 | 15.58 | 5.70 | 25.04 | 6.65 |
| EPS, diluted | -1.54 | 2.60 | 1.12 | 0.38 | 0.04 | 2.72 | 15.52 | 5.69 | 24.95 | 6.63 |
| Shares, basic (weighted) | 48.4 | 48.4 | 48.5 | 48.5 | 48.5 | 48.6 | 48.6 | 48.7 | 48.7 | 47.7 |
| Shares, diluted (weighted) | 48.4 | 48.5 | 48.6 | 48.6 | 48.7 | 48.7 | 48.8 | 48.9 | 48.9 | 47.8 |
| Dividend per share | 0.00 | 0.35 | 0.51 | 0.00 | 0.03 | 0.87 | 5.16 | 1.89 | 8.32 | 2.46 |
Balance sheet
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | 17.6 | 48.4 | 69.2 | 78.1 | 57.4 | 59.1 | 293 | 238 | 499 | 107 |
| Short-term investments | 154 | 112 | 115 | 355 | 574 | 893 | 817 | |||
| Receivables | 61.3 | 80.7 | 57.1 | 85 | 79.1 | 169 | 111 | 139 | 244 | 136 |
| Inventory | 161 | 169 | 172 | 187 | 218 | 263 | 284 | 262 | 296 | 375 |
| Other current assets | 2.29 | 2.02 | 4.33 | 4.37 | 5.41 | 4.29 | 5.38 | 5.24 | 7.98 | 17.8 |
| Total current assets | 436 | 588 | 568 | 522 | 520 | 662 | 1,125 | 1,242 | 1,968 | 1,582 |
| Property, plant and equipment | 458 | 425 | 455 | 557 | 589 | 678 | 745 | 857 | 1,027 | 1,318 |
| Lease right-of-use assets | 0 | 2.53 | 1.72 | 1.01 | ||||||
| Goodwill | 35.5 | 35.5 | 35.5 | 35.5 | 35.5 | 44 | 44 | 45.8 | 46.8 | 97.1 |
| Intangible assets | 29.1 | 26.3 | 23.8 | 22.8 | 20.3 | 18.1 | 15.9 | 16 | 15.2 | 73.1 |
| Long-term investments | 2.75 | 4.12 | 3.75 | 2.08 | ||||||
| Other non-current assets | 8.3 | 8.91 | 5.39 | 4.54 | 6.77 | 10.5 | 10.7 | 12.7 | 27.9 | 37.5 |
| Total assets | 1,033 | 1,150 | 1,156 | 1,207 | 1,229 | 1,427 | 1,955 | 2,185 | 3,085 | 3,108 |
| Accounts payable | 30.6 | 37.8 | 39.2 | 55.9 | 52.8 | 82 | 82.6 | 75.9 | 101 | 96.1 |
| Accrued liabilities | 13.4 | 13 | 11.1 | 13 | 12.6 | 14.2 | 16 | 37.8 | 32.9 | 61 |
| Short-term debt | 4.83 | 3.54 | 1.5 | 0 | ||||||
| Total current liabilities | 64.7 | 108 | 74.9 | 93.2 | 90.1 | 185 | 183 | 228 | 308 | 206 |
| Long-term debt | 6.11 | 2.55 | 0.64 | |||||||
| Lease liabilities | 0 | 1.74 | 1.03 | 0.53 | ||||||
| Other non-current liabilities | 7.53 | 8.32 | 8.11 | 8.68 | 10.4 | 10.3 | 10 | 17.1 | 55.6 | 39.7 |
| Total liabilities | 189 | 195 | 166 | 197 | 216 | 323 | 345 | 388 | 519 | 467 |
| Total debt | 10.9 | 6.09 | 2.34 | 0 | ||||||
| Paid-in capital | 49.9 | 53.3 | 56.9 | 60.4 | 64 | 68 | 72.1 | 76.4 | 80.8 | 86.1 |
| Retained earnings | 816 | 925 | 955 | 975 | 976 | 1,066 | 1,571 | 1,756 | 2,566 | 2,765 |
| Treasury stock | -23.9 | -25 | -25.9 | -26.7 | -27.4 | -28.4 | -30 | -31.6 | -85.9 | -218 |
| Other comprehensive income | -0.13 | -0.69 | 0.36 | 0.08 | -0.56 | -1.6 | -2.89 | -1.77 | -1.01 | -1.47 |
| Shareholders' equity | 843 | 953 | 987 | 1,010 | 1,013 | 1,105 | 1,611 | 1,800 | 2,561 | 2,633 |
| Minority interests | 1.81 | 2.35 | 3.18 | 0 | 0 | -0.21 | -1.5 | -3.1 | 5.39 | 7.8 |
| Total equity | 844 | 956 | 990 | 1,010 | 1,013 | 1,104 | 1,610 | 1,797 | 2,566 | 2,641 |
| Total liabilities and equity | 1,033 | 1,150 | 1,156 | 1,207 | 1,229 | 1,427 | 1,955 | 2,185 | 3,085 | 3,108 |
| Shares outstanding | 48.6 | 48.7 | 48.8 | 48.9 | 48.9 |
Cash flow statement
| FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income | -74.4 | 126 | 55.1 | 18.3 | 2.06 | 132 | 757 | 276 | 1,218 | 318 |
| Depreciation and amortization | 49.1 | 54 | 54.7 | 58.1 | 59.5 | 68.4 | 72.2 | 80.2 | 94 | 124 |
| Stock-based compensation | 3.4 | 3.5 | 3.62 | 3.62 | 3.78 | 4.06 | 4.21 | 4.36 | 4.53 | 5.76 |
| Deferred income tax | 14.8 | -33.8 | 6.12 | 10.3 | 22.4 | 5.68 | 24.5 | -9.67 | 11.6 | 67.4 |
| Change in receivables | -88.1 | 58.1 | -27.6 | -105 | 140 | |||||
| Change in inventory | 2.39 | -7.95 | -2.29 | -9.7 | -31.2 | -36.2 | -21.1 | 28.8 | -12.2 | -35 |
| Change in payables | -9.49 | 28.4 | -14.3 | 17.7 | -1.41 | 30 | 14.9 | 9.35 | 65.3 | -8.34 |
| Cash from operations | -45.9 | 200 | 115 | 73.6 | 26.1 | 126 | 863 | 451 | 1,225 | 480 |
| Capital expenditures | -66.7 | -19.7 | -68 | -124 | -95.1 | -72.4 | -137 | -147 | -161 | -151 |
| Acquisitions | -85.8 | 0 | -17.9 | -44.7 | 0 | -44.8 | 0 | -53.7 | -116 | -428 |
| Purchases of investments | -29.8 | -275 | -177 | -107 | -88.3 | -98.2 | -531 | -574 | -1,214 | -649 |
| Sales and maturities of investments | 248 | 128 | 210 | 204 | ||||||
| Cash from investing | 52.7 | -164 | -47.8 | -61.4 | -44.2 | -117 | -375 | -413 | -575 | -504 |
| Debt repaid | -16.5 | -4.85 | -3.75 | -1.5 | 0 | 0 | 0 | 0 | -2.48 | 0 |
| Dividends paid | 0 | 0 | -41.7 | 0 | -1.65 | -6.12 | -252 | -91.9 | -330 | -232 |
| Cash from financing | -18.3 | -5.7 | -46.5 | -3.36 | -2.72 | -7.46 | -254 | -93.8 | -387 | -363 |
| Net change in cash | -11.5 | 30.9 | 20.8 | 8.88 | -20.8 | 1.73 | 234 | -54.9 | 263 | -387 |
| Free cash flow | -113 | 181 | 47.1 | -50.6 | -68.9 | 53.8 | 726 | 304 | 1,063 | 329 |
| Interest paid | 0.32 | 0.27 | 0.64 | 0.5 | 0.51 | 0.38 | 0.56 | |||
| Income taxes paid | -15.2 | -45.1 | 36.3 | 0.03 | 1 | 1.75 | 258 | 35.1 | 426 | 120 |
Key metrics
Profitability
| Metric | Value | How it is calculated |
|---|---|---|
| Gross margin | 23.1% | Gross profit / revenue. |
| Operating margin | 12.0% | Operating income / revenue. |
| EBITDA margin | 16.3% | EBITDA (operating income + depreciation and amortization) / revenue. |
| Pre-tax margin | 14.1% | Pre-tax income / revenue. |
| Net margin | 10.9% | Net income / revenue. |
| FCF margin | 11.3% | Free cash flow (cash from operations - capital expenditures) / revenue. |
| Operating cash flow margin | 16.5% | Cash from operations / revenue. |
| Effective tax rate | 22.6% | Income tax / pre-tax income, when pre-tax income is positive. |
| Return on equity (ROE) | 12.2% | Net income / average shareholders' equity (opening and closing). Not shown when equity is negative. |
| Return on assets (ROA) | 10.2% | Net income / average total assets. |
| Return on invested capital (ROIC) | 11.8% | Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%. |
| SG&A / revenue | 11.3% | Selling, general and administrative expense / revenue. |
| Stock-based pay / revenue | 0.2% | Stock-based compensation (from the cash flow statement) / revenue. |
| Capex / revenue | 5.2% | Capital expenditures / revenue. |
| D&A / revenue | 4.3% | Depreciation and amortization / revenue. |
Growth
| Metric | Value | How it is calculated |
|---|---|---|
| Revenue growth, 1y | -31.7% | Revenue vs the same period a year earlier. Only from a positive base. |
| Revenue CAGR, 3y | -2.5% | Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Revenue CAGR, 5y | 16.6% | Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Gross profit growth, 1y | -63.7% | Gross profit vs the same period a year earlier. Only from a positive base. |
| Gross profit CAGR, 3y | -17.5% | Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Gross profit CAGR, 5y | 33.1% | Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating income growth, 1y | -77.2% | Operating income vs the same period a year earlier. Only from a positive base. |
| Operating income CAGR, 3y | -28.7% | Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA growth, 1y | -70.9% | EBITDA vs the same period a year earlier. Only from a positive base. |
| EBITDA CAGR, 3y | -23.0% | Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EBITDA CAGR, 5y | 70.2% | Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Net income growth, 1y | -74.0% | Net income vs the same period a year earlier. Only from a positive base. |
| Net income CAGR, 3y | -25.2% | Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Net income CAGR, 5y | 173.7% | Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| EPS growth, 1y | -73.4% | EPS vs the same period a year earlier. Only from a positive base. |
| EPS CAGR, 3y | -24.7% | Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| EPS CAGR, 5y | 177.9% | Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Operating cash flow growth, 1y | -60.8% | Operating cash flow vs the same period a year earlier. Only from a positive base. |
| Operating cash flow CAGR, 3y | -17.8% | Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Operating cash flow CAGR, 5y | 79.0% | Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Free cash flow growth, 1y | -69.1% | Free cash flow vs the same period a year earlier. Only from a positive base. |
| Free cash flow CAGR, 3y | -23.2% | Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share growth, 1y | -70.5% | Dividend per share vs the same period a year earlier. Only from a positive base. |
| Dividend per share CAGR, 3y | -21.9% | Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Dividend per share CAGR, 5y | 135.4% | Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Book value growth, 1y | 2.8% | Book value vs the same period a year earlier. Only from a positive base. |
| Book value CAGR, 3y | 17.8% | Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Book value CAGR, 5y | 21.1% | Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Total assets growth, 1y | 0.7% | Total assets vs the same period a year earlier. Only from a positive base. |
| Total assets CAGR, 3y | 16.7% | Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive. |
| Total assets CAGR, 5y | 20.4% | Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive. |
| Share count change, 1y | -2.3% | Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 3y | -0.7% | Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution. |
| Share count change per year, 5y | -0.4% | Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution. |
Balance sheet health
| Metric | Value | How it is calculated |
|---|---|---|
| Current ratio | 7.70x | Current assets / current liabilities. |
| Quick ratio | 5.16x | (Cash + short-term investments + receivables) / current liabilities. |
| Cash ratio | 4.50x | (Cash + short-term investments) / current liabilities. |
| Liabilities / assets | 15.0% | Total liabilities / total assets. |
| Working capital | $1.38B | Current assets - current liabilities. |
| Goodwill and intangibles / assets | 5.5% | (Goodwill + intangible assets) / total assets. |
| Tangible book value | $2.46B | Shareholders' equity - goodwill - intangible assets. |
Efficiency
| Metric | Value | How it is calculated |
|---|---|---|
| Asset turnover | 0.94x | Revenue / average total assets. |
| Fixed asset turnover | 2.48x | Revenue / average property, plant and equipment. |
| Inventory turnover | 6.68x | Cost of revenue / average inventory. |
| Days inventory | 55 days | 365 x average inventory / cost of revenue. |
| Receivables turnover | 15.3x | Revenue / average receivables. |
| Days sales outstanding | 24 days | 365 x average receivables / revenue. |
| Days payables | 16 days | 365 x average accounts payable / cost of revenue. |
| Cash conversion cycle | 62 days | Days inventory + days sales outstanding - days payables. |
| FCF conversion | 103.7% | Free cash flow / net income, when net income is positive. |
| Capex / operating cash flow | 31.5% | Capital expenditures / cash from operations, when that is positive. |
Per share
| Metric | Value | How it is calculated |
|---|---|---|
| EPS, diluted | $6.63 | Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS. |
| EPS, basic | $6.65 | Net income per basic share, as reported (split-adjusted). |
| Revenue per share | $60.94 | Revenue / diluted weighted shares. |
| FCF per share | $6.88 | Free cash flow / diluted weighted shares. |
| Operating cash flow per share | $10.04 | Cash from operations / diluted weighted shares. |
| Book value per share | $55.10 | Shareholders' equity / shares outstanding (diluted weighted shares when not reported). |
| Tangible book per share | $51.54 | Tangible book value / shares outstanding. |
| Cash per share | $19.34 | (Cash + short-term investments) / shares outstanding. |
| Dividend per share | $2.46 | Dividend declared per common share (paid, when declared is not tagged). |
| Payout ratio | 73.1% | Dividends paid / net income, when net income is positive. |
| Dividends / FCF | 70.5% | Dividends paid / free cash flow, when free cash flow is positive. |
Valuation
| Metric | Value | How it is calculated |
|---|---|---|
| Market cap | $3.16B | Share price x shares outstanding. |
| Enterprise value | $2.24B | Market cap + total debt - cash - short-term investments. |
| P/E | 9.99x | Market cap / net income. Only when net income is positive. |
| P/S | 1.09x | Market cap / revenue. |
| P/B | 1.20x | Market cap / shareholders' equity. Only when equity is positive. |
| Price / tangible book | 1.28x | Market cap / tangible book value, when positive. |
| P/FCF | 9.63x | Market cap / free cash flow. Only when free cash flow is positive. |
| P/OCF | 6.59x | Market cap / cash from operations, when positive. |
| EV/Sales | 0.77x | Enterprise value / revenue. |
| EV/EBIT | 6.40x | Enterprise value / operating income, when both are positive. |
| EV/EBITDA | 4.72x | Enterprise value / EBITDA, when both are positive. |
| EV/FCF | 6.82x | Enterprise value / free cash flow, when both are positive. |
| FCF yield | 10.4% | Free cash flow / market cap. |
| Earnings yield | 10.0% | Net income / market cap (the inverse of P/E). |
| Dividend yield | 7.3% | Dividends paid over the period / market cap. |
| Shareholder yield | 7.3% | (Dividends paid + share buybacks) / market cap. |
What was CAL-MAINE FOODS INC's revenue in fiscal 2026?
CAL-MAINE FOODS INC reported revenue of $2.91B for fiscal 2026, 31.7% lower than the year before.
Was CAL-MAINE FOODS INC profitable in fiscal 2026?
Yes. Net income was $316.7M, a net margin of 10.9%.
How much free cash flow did CAL-MAINE FOODS INC generate in fiscal 2026?
Cash from operations of $479.8M minus capital expenditures of $151.2M left free cash flow of $328.5M.