Conagra Brands Inc Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Conagra Brands Inc has an operating margin of 11.8%, meaning the company retains $12 of operating profit per $100 of revenue. This results in a moderate score of 59/100, indicating healthy but not exceptional operating efficiency. This is up from 7.1% the prior year.
Conagra Brands Inc's revenue declined 3.6% year-over-year, from $12.1B to $11.6B. This contraction results in a growth score of 18/100.
Conagra Brands Inc carries a low D/E ratio of 0.70, meaning only $0.70 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
Conagra Brands Inc's current ratio of 0.71 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 8/100, which could limit financial flexibility.
Conagra Brands Inc has a free cash flow margin of 11.2%, earning a moderate score of 56/100. The company generates positive cash flow after capital investments, but with room for improvement.
Conagra Brands Inc's ROE of 12.9% shows moderate profitability relative to equity, earning a score of 52/100. This is up from 4.1% the prior year.
Conagra Brands Inc scores 1.62, below the 1.81 distress threshold. This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Conagra Brands Inc passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Conagra Brands Inc generates $1.47 in operating cash flow ($1.7B OCF vs $1.2B net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Conagra Brands Inc earns $3.3 in operating income for every $1 of interest expense ($1.4B vs $416.7M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
This page shows Conagra Brands Inc (CAG) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Conagra Brands Inc generated $11.6B in revenue in fiscal year 2025. This represents a decrease of 3.6% from the prior year.
Conagra Brands Inc's EBITDA was $1.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 40.0% from the prior year.
Conagra Brands Inc generated $1.3B in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 20.0% from the prior year.
Conagra Brands Inc reported $1.2B in net income in fiscal year 2025. This represents an increase of 231.9% from the prior year.
Conagra Brands Inc earned $2.40 per diluted share (EPS) in fiscal year 2025. This represents an increase of 233.3% from the prior year.
Conagra Brands Inc held $68.0M in cash against $6.2B in long-term debt as of fiscal year 2025.
Conagra Brands Inc had 477M shares outstanding in fiscal year 2025. This represents a decrease of 0.2% from the prior year.
Conagra Brands Inc's gross margin was 25.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.8 percentage points from the prior year.
Conagra Brands Inc's operating margin was 11.8% in fiscal year 2025, reflecting core business profitability. This is up 4.7 percentage points from the prior year.
Conagra Brands Inc's net profit margin was 9.9% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.0 percentage points from the prior year.
Conagra Brands Inc's ROE was 12.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 8.8 percentage points from the prior year.
Conagra Brands Inc invested $60.8M in research and development in fiscal year 2025. This represents a decrease of 1.0% from the prior year.
Conagra Brands Inc spent $64.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Conagra Brands Inc invested $389.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.3% from the prior year.
CAG Income Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B+13.2% | $2.6B-7.3% | $2.8B-11.1% | $3.2B+14.3% | $2.8B-7.8% | $3.0B-5.5% | $3.2B+10.5% | $2.9B |
| Cost of Revenue | $2.3B+14.6% | $2.0B-6.5% | $2.1B-9.3% | $2.3B+14.2% | $2.1B-5.5% | $2.2B-7.9% | $2.4B+13.5% | $2.1B |
| Gross Profit | $696.0M+8.6% | $640.6M-9.8% | $710.3M-16.1% | $846.7M+14.5% | $739.3M-13.9% | $858.8M+1.4% | $846.6M+2.9% | $823.1M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $325.1M-3.1% | $335.6M-24.4% | $443.7M+4.4% | $425.2M+26.8% | $335.4M-13.4% | $387.4M-2.7% | $398.1M+19.2% | $334.1M |
| Operating Income | -$597.6M-272.0% | $347.4M-12.1% | $395.0M-1.9% | $402.6M+0.2% | $401.6M-30.6% | $578.4M+6.5% | $543.3M+3.3% | $525.7M |
| Interest Expense | -$96.0M-2.3% | -$93.8M+7.0% | -$100.9M+6.7% | -$108.2M-2.3% | -$105.8M+0.7% | -$106.5M+6.0% | -$113.3M-6.9% | -$106.0M |
| Income Tax | $8.3M-93.3% | $124.6M+183.8% | $43.9M-28.6% | $61.5M+144.3% | -$138.9M-244.8% | $95.9M-6.8% | $102.9M+4.7% | $98.3M |
| Net Income | -$663.6M-503.4% | $164.5M+13.4% | $145.1M-49.0% | $284.5M-39.1% | $466.8M+51.3% | $308.6M+7.8% | $286.2M-10.5% | $319.7M |
| EPS (Diluted) | $-1.39-508.8% | $0.34+13.3% | $0.30-49.2% | $0.59-39.2% | $0.97+51.6% | $0.64+6.7% | $0.60-10.4% | $0.67 |
CAG Balance Sheet
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $19.5B-7.7% | $21.2B+2.1% | $20.7B-1.3% | $21.0B-1.1% | $21.2B-3.1% | $21.9B-0.9% | $22.1B-1.1% | $22.4B |
| Current Assets | $3.2B-16.0% | $3.8B+29.5% | $3.0B-7.5% | $3.2B-6.2% | $3.4B+4.0% | $3.3B-5.3% | $3.5B-2.9% | $3.6B |
| Cash & Equivalents | $46.6M-93.3% | $698.1M+1313.2% | $49.4M+32.1% | $37.4M-70.9% | $128.7M+63.9% | $78.5M+27.6% | $61.5M-34.1% | $93.3M |
| Inventory | $2.2B-2.6% | $2.3B+15.5% | $2.0B-10.4% | $2.2B-1.8% | $2.2B+3.6% | $2.1B-5.9% | $2.3B-4.9% | $2.4B |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $9.7B-7.4% | $10.5B0.0% | $10.5B-2.4% | $10.8B0.0% | $10.8B-3.2% | $11.1B0.0% | $11.1B-0.6% | $11.2B |
| Total Liabilities | $11.4B-6.6% | $12.3B+2.4% | $12.0B-2.1% | $12.2B-2.7% | $12.6B-1.1% | $12.7B-2.7% | $13.0B-2.7% | $13.4B |
| Current Liabilities | $3.6B-0.3% | $3.6B-15.7% | $4.3B-5.6% | $4.6B+25.0% | $3.6B+5.1% | $3.5B-9.4% | $3.8B-2.7% | $3.9B |
| Long-Term Debt | $7.2B-12.1% | $8.2B+13.3% | $7.3B0.0% | $7.3B-3.2% | $7.5B-11.8% | $8.5B0.0% | $8.5B-2.9% | $8.8B |
| Total Equity | $8.1B-9.3% | $8.9B+1.6% | $8.8B-0.2% | $8.8B+1.2% | $8.7B-5.0% | $9.2B+1.7% | $9.0B+1.3% | $8.9B |
| Retained Earnings | $5.9B-12.3% | $6.8B+1.3% | $6.7B-0.3% | $6.7B+1.8% | $6.6B-6.2% | $7.0B+2.0% | $6.9B+1.8% | $6.8B |
CAG Cash Flow Statement
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $210.6M+74.6% | $120.6M-79.6% | $592.0M+21.9% | $485.6M+80.8% | $268.6M-60.3% | $676.7M+64.6% | $411.1M-7.3% | $443.5M |
| Capital Expenditures | $71.8M-51.1% | $146.8M+65.3% | $88.8M+7.8% | $82.4M-38.0% | $133.0M+39.1% | $95.6M+35.8% | $70.4M-51.0% | $143.6M |
| Free Cash Flow | $138.8M+629.8% | -$26.2M-105.2% | $503.2M+24.8% | $403.2M+197.3% | $135.6M-76.7% | $581.1M+70.6% | $340.7M+13.6% | $299.9M |
| Investing Cash Flow | -$34.8M-106.9% | $502.0M+650.4% | -$91.2M-14.4% | -$79.7M+72.2% | -$286.3M-212.2% | -$91.7M-40.0% | -$65.5M+52.7% | -$138.4M |
| Financing Cash Flow | -$827.1M-11587.5% | $7.2M+101.5% | -$489.1M+1.3% | -$495.3M-806.6% | $70.1M+112.4% | -$566.9M-50.7% | -$376.3M-22.5% | -$307.1M |
| Dividends Paid | $167.7M+0.4% | $167.1M0.0% | $167.1M-0.4% | $167.8M+0.3% | $167.3M0.0% | $167.3M0.0% | $167.3M+6.3% | $157.4M |
| Share Buybacks | $300K-98.0% | $15.0M | $0 | $0-100.0% | $64.0M | $0 | $0 | $0 |
CAG Financial Ratios
| Metric | Q2'25 | Q1'25 | Q3'25 | Q2'24 | Q1'24 | Q3'24 | Q2'23 | Q1'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.4%-1.0pp | 24.3%-0.7pp | 25.0%-1.5pp | 26.5%+0.1pp | 26.5%-1.9pp | 28.3%+1.9pp | 26.4%-1.9pp | 28.3% |
| Operating Margin | -20.1%-33.3pp | 13.2%-0.7pp | 13.9%+1.3pp | 12.6%-1.8pp | 14.4%-4.7pp | 19.1%+2.1pp | 16.9%-1.2pp | 18.1% |
| Net Margin | -22.3%-28.5pp | 6.3%+1.1pp | 5.1%-3.8pp | 8.9%-7.8pp | 16.7%+6.5pp | 10.2%+1.3pp | 8.9%-2.1pp | 11.0% |
| Return on Equity | N/A | 1.8%+0.2pp | 1.7%-1.6pp | 3.2%-2.1pp | 5.4%+2.0pp | 3.4%+0.2pp | 3.2%-0.4pp | 3.6% |
| Return on Assets | -3.4%-4.2pp | 0.8%+0.1pp | 0.7%-0.7pp | 1.4%-0.8pp | 2.2%+0.8pp | 1.4%+0.1pp | 1.3%-0.1pp | 1.4% |
| Current Ratio | 0.89-0.2 | 1.06+0.4 | 0.69-0.0 | 0.70-0.2 | 0.940.0 | 0.95+0.0 | 0.910.0 | 0.91 |
| Debt-to-Equity | 0.89-0.0 | 0.92+0.1 | 0.830.0 | 0.83-0.0 | 0.86-0.1 | 0.93-0.0 | 0.95-0.0 | 0.99 |
| FCF Margin | 4.7%+5.7pp | -1.0%-18.7pp | 17.7%+5.1pp | 12.6%+7.8pp | 4.9%-14.3pp | 19.2%+8.5pp | 10.6%+0.3pp | 10.3% |
Note: The current ratio is below 1.0 (0.71), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is Conagra Brands Inc's annual revenue?
Conagra Brands Inc (CAG) reported $11.6B in total revenue for fiscal year 2025. This represents a -3.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Conagra Brands Inc's revenue growing?
Conagra Brands Inc (CAG) revenue declined by 3.6% year-over-year, from $12.1B to $11.6B in fiscal year 2025.
Is Conagra Brands Inc profitable?
Yes, Conagra Brands Inc (CAG) reported a net income of $1.2B in fiscal year 2025, with a net profit margin of 9.9%.
What is Conagra Brands Inc's earnings per share (EPS)?
Conagra Brands Inc (CAG) reported diluted earnings per share of $2.40 for fiscal year 2025. This represents a 233.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Conagra Brands Inc's EBITDA?
Conagra Brands Inc (CAG) had EBITDA of $1.8B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Conagra Brands Inc have?
As of fiscal year 2025, Conagra Brands Inc (CAG) had $68.0M in cash and equivalents against $6.2B in long-term debt.
What is Conagra Brands Inc's gross margin?
Conagra Brands Inc (CAG) had a gross margin of 25.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Conagra Brands Inc's operating margin?
Conagra Brands Inc (CAG) had an operating margin of 11.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Conagra Brands Inc's net profit margin?
Conagra Brands Inc (CAG) had a net profit margin of 9.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Conagra Brands Inc's return on equity (ROE)?
Conagra Brands Inc (CAG) has a return on equity of 12.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Conagra Brands Inc's free cash flow?
Conagra Brands Inc (CAG) generated $1.3B in free cash flow during fiscal year 2025. This represents a -20.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Conagra Brands Inc's operating cash flow?
Conagra Brands Inc (CAG) generated $1.7B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Conagra Brands Inc's total assets?
Conagra Brands Inc (CAG) had $20.9B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Conagra Brands Inc's capital expenditures?
Conagra Brands Inc (CAG) invested $389.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Conagra Brands Inc spend on research and development?
Conagra Brands Inc (CAG) invested $60.8M in research and development during fiscal year 2025.
Does Conagra Brands Inc buy back shares?
Yes, Conagra Brands Inc (CAG) spent $64.0M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
How many shares does Conagra Brands Inc have outstanding?
Conagra Brands Inc (CAG) had 477M shares outstanding as of fiscal year 2025.
What is Conagra Brands Inc's current ratio?
Conagra Brands Inc (CAG) had a current ratio of 0.71 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.
What is Conagra Brands Inc's debt-to-equity ratio?
Conagra Brands Inc (CAG) had a debt-to-equity ratio of 0.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Conagra Brands Inc's return on assets (ROA)?
Conagra Brands Inc (CAG) had a return on assets of 5.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Conagra Brands Inc's Altman Z-Score?
Conagra Brands Inc (CAG) has an Altman Z-Score of 1.62, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Conagra Brands Inc's Piotroski F-Score?
Conagra Brands Inc (CAG) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Conagra Brands Inc's earnings high quality?
Conagra Brands Inc (CAG) has an earnings quality ratio of 1.47x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Conagra Brands Inc cover its interest payments?
Conagra Brands Inc (CAG) has an interest coverage ratio of 3.3x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Conagra Brands Inc?
Conagra Brands Inc (CAG) scores 46 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.