TYSON FOODS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data TYSON 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	36,881	38,260	40,052	42,405	43,185	47,049	53,282	52,881	53,309	54,441
Cost of revenue	32,184	33,198	34,956	37,383	37,801	40,523	46,614	50,250	49,682	50,879
Gross profit	4,697	5,062	5,096	5,022	5,384	6,526	6,668	2,631	3,627	3,562
Research and development	96	113	114	97	98	114	108	114	106	126
Selling, general and administrative	1,864	2,141	2,127	2,252	2,376	2,130	2,258	2,245	2,218	2,121
Operating income	2,833	2,921	2,969	2,770	3,008	4,396	4,410	-395	1,409	1,098
Interest expense	249	279	350	462	485	428	365	355	481	449
Interest income	6	7	7	11	10	8	17	30	89	73
Other non-operating income	-235	-293	-287	-396	-344	-355	-261	-283	-317	-329
Pre-tax income	2,598	2,628	2,682	2,374	2,664	4,041	4,149	-678	1,092	769
Income tax	826	850	-291	381	593	981	900	-29	270	262
Income from continuing operations	1,768
Net income to minority interests	4	4	3	13	10	13	11	-1	22	33
Net income	1,768	1,774	2,970	1,980	2,061	3,047	3,238	-648	800	474
EBITDA	3,530	3,669	3,902	3,856	4,186	5,591	5,601	934	2,797	2,448
EPS, diluted	4.53	4.79	8.04	5.40	5.64	8.34	8.92	-1.87	2.25	1.33
Shares, diluted (weighted)	390	370	369	366	365	365	363	284	356	357

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	349	318	270	484	1,420	2,507	1,031	573	1,717	1,229
Receivables	1,542	1,675	1,723	2,173	1,952	2,400	2,577	2,476	2,406	2,524
Inventory	2,732	3,239	3,513	3,929	3,859	4,382	5,514	5,328	5,195	5,681
Other current assets	265	219	182	404	367	533	508	345	433	482
Total current assets	4,888	6,258	5,688	6,990	7,598	9,822	9,630	8,722	9,751	9,916
Property, plant and equipment	5,170	5,568	6,169	7,282	7,596	7,837	8,685	9,634	9,442	9,204
Lease right-of-use assets					532	531	507	544	710	887
Goodwill	6,669	9,324	9,739	10,844	10,899	10,549	10,513	9,878	9,819	9,469
Intangible assets	5,084	6,243	6,759	7,037	6,774	6,519	6,252	6,098	5,875	5,624
Other non-current assets	562	673	754	765	1,589	1,582	1,741	1,919	2,213	2,445
Total assets	22,373	28,066	28,987	32,918	34,456	36,309	36,821	36,251	37,100	36,658
Accounts payable	1,511	1,698	1,694	1,926	1,876	2,225	2,483	2,594	2,402	2,601
Accrued liabilities	563	673	549	620	823	897	995	672	912	909
Short-term debt	79	906	1,911	2,102	548	1,067	459	1,895	74	909
Total current liabilities	2,762	4,032	5,031	5,513	4,234	6,325	5,313	6,499	4,787	6,389
Long-term debt	6,200	9,297	7,962	9,830	10,791	8,281	7,862	7,611	9,713	7,921
Lease liabilities					368	368	350	376	521	664
Other non-current liabilities	1,242	1,199	1,198	1,172	1,728	1,654	1,377	1,578	1,801	1,926
Total liabilities	12,749	17,507	16,388	18,824	19,070	18,455	17,010	17,996	18,586	18,431
Total debt	6,279	10,203	9,873	11,932	11,339	9,348	8,321	9,506	9,787	8,830
Paid-in capital	4,355	4,378	4,387	4,378	4,433	4,486	4,553	4,560	4,597	4,686
Retained earnings	8,348	9,776	12,239	13,655	15,100	17,502	20,084	18,760	18,873	18,647
Treasury stock	-3,093	-3,674	-3,943	-4,011	-4,145	-4,138	-4,683	-4,972	-4,941	-5,102
Other comprehensive income	-45	16	-15	-117	-179	-172	-297	-260	-184	-191
Shareholders' equity	9,608	10,541	12,803	13,950	15,254	17,723	19,702	18,133	18,390	18,085
Minority interests	16	18	8	144	132	131	109	122	124	142
Total equity	9,624	10,559	12,721	14,094	15,386	17,854	19,811	18,255	18,514	18,227
Total liabilities and equity	22,373	28,066	29,109	32,918	34,456	36,309	36,821	36,251	37,100	36,658

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	1,772	1,778	2,973	1,993	2,071	3,060	3,249	-649	822	507
Depreciation and amortization	697	748	933	1,086	1,178	1,195	1,191	1,329	1,388	1,350
Stock-based compensation	81	92	69	77	89	91	93	61	101	100
Deferred income tax	84	-39	-874	77	18	-125	264	-183	-45	-76
Change in receivables	73	-55	-2	-226	191	-508	-176	136	59	-121
Change in inventory	148	-246	-144	-157	86	-567	-1,195	175	153	-449
Change in payables	-130	61	-44	-55	-64	351	302	47	-205	184
Cash from operations	2,716	2,599	2,963	2,513	3,874	3,840	2,687	1,752	2,590	2,155
Capital expenditures	-695	-1,069	-1,200	-1,259	-1,199	-1,209	-1,887	-1,939	-1,132	-978
Acquisitions	0	-3,081	-1,474	-2,462	0	0	0	-262	0	0
Purchases of investments	-46	-79	-42	-64	-105	-72	-35	-34	-38	-66
Sales and maturities of investments	37	61	37	63	87	70	34	32	35	62
Cash from investing	-684	-4,164	-1,906	-3,464	-1,423	58	-1,935	-2,299	-888	-665
Debt issued		5,444	1,148	4,634	1,609	585	103	1,130	2,415	175
Stock issued	0	154	102	99	30	41	126	11	14	21
Share buybacks	-1,944	-860	-427	-252	-207
Dividends paid	-216	-319	-431	-537	-601	-636	-653	-670	-684	-697
Cash from financing	-2,377	1,530	-1,102	1,171	-1,468	-2,731	-2,323	88	-581	-1,977
Exchange rate effect	6	4	-3	-6	-1	4	-35	1	23	-1
Net change in cash	-339	-31	-48	214	982	1,171	-1,606	-458	1,144	-488
Free cash flow	2,021	1,530	1,763	1,254	2,675	2,631	800	-187	1,458	1,177
Interest paid	242	249	368	419	536	444	363	340	460	402
Income taxes paid	686	779	470	557	511	683	1,216	46	227	331

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $50.92 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	6.1%	Gross profit / revenue.
Operating margin	2.3%	Operating income / revenue.
EBITDA margin	4.5%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	1.5%	Pre-tax income / revenue.
Net margin	1.0%	Net income / revenue.
FCF margin	2.1%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	3.6%	Cash from operations / revenue.
Effective tax rate	27.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	3.2%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.6%	Net income / average total assets.
Return on invested capital (ROIC)	3.6%	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	3.9%	Selling, general and administrative expense / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	2.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	2.1%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	0.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	4.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-1.8%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	-18.9%	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	-7.9%	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	-22.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-37.1%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-18.3%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-12.5%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-24.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-10.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-40.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-47.3%	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	-25.5%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-40.9%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-47.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-25.1%	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	-16.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-7.1%	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	-11.1%	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	-19.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	13.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-15.1%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-1.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-2.8%	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	3.5%	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	-1.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-0.1%	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	1.2%	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	0.3%	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	-0.6%	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	1.43x	Current assets / current liabilities.
Quick ratio	0.48x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.11x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.44x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	22.5%	Total debt / total assets.
Liabilities / assets	48.9%	Total liabilities / total assets.
Net debt	$7.27B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.88x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	3.10x	Operating income / interest expense.
Working capital	$2.86B	Current assets - current liabilities.
Goodwill and intangibles / assets	42.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$3.14B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	1.56x	Revenue / average total assets.
Fixed asset turnover	6.34x	Revenue / average property, plant and equipment.
Inventory turnover	8.95x	Cost of revenue / average inventory.
Days inventory	41 days	365 x average inventory / cost of revenue.
Receivables turnover	22.7x	Revenue / average receivables.
Days sales outstanding	16 days	365 x average receivables / revenue.
Days payables	19 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	38 days	Days inventory + days sales outstanding - days payables.
FCF conversion	202.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	42.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$1.62	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.
Revenue per share	$156.89	Revenue / diluted weighted shares.
FCF per share	$3.27	Free cash flow / diluted weighted shares.
Operating cash flow per share	$5.65	Cash from operations / diluted weighted shares.
Book value per share	$50.93	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$8.83	Tangible book value / shares outstanding.
Cash per share	$2.08	(Cash + short-term investments) / shares outstanding.
Payout ratio	122.3%	Dividends paid / net income, when net income is positive.
Dividends / FCF	60.5%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$17.91B	Share price x shares outstanding.
Enterprise value	$25.18B	Market cap + total debt - cash - short-term investments.
P/E	31.2x	Market cap / net income. Only when net income is positive.
P/S	0.32x	Market cap / revenue.
P/B	0.99x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	5.71x	Market cap / tangible book value, when positive.
P/FCF	15.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.94x	Market cap / cash from operations, when positive.
EV/Sales	0.45x	Enterprise value / revenue.
EV/EBIT	20.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	9.99x	Enterprise value / EBITDA, when both are positive.
EV/FCF	21.7x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.5%	Free cash flow / market cap.
Earnings yield	3.2%	Net income / market cap (the inverse of P/E).
Dividend yield	3.9%	Dividends paid over the period / market cap.
Shareholder yield	3.9%	(Dividends paid + share buybacks) / market cap.

What was TYSON FOODS, INC.'s revenue in fiscal 2025?

TYSON FOODS, INC. reported revenue of $54.44B for fiscal 2025, 2.1% higher than the year before.

Was TYSON FOODS, INC. profitable in fiscal 2025?

Yes. Net income was $474.0M, a net margin of 0.9%.

How much free cash flow did TYSON FOODS, INC. generate in fiscal 2025?

Cash from operations of $2.16B minus capital expenditures of $978.0M left free cash flow of $1.18B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

Open interactive statements, quarterly figures and charts

Back to TYSON FOODS, INC.