This page shows Hormel Foods Corp (HRL) 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).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Hormel Foods Corp has an operating margin of 5.9%, meaning the company retains $6 of operating profit per $100 of revenue. This results in a moderate score of 35/100, indicating healthy but not exceptional operating efficiency. This is down from 9.0% the prior year.
Hormel Foods Corp's revenue grew a modest 1.6% year-over-year to $12.1B. This slow but positive growth earns a score of 36/100.
Hormel Foods Corp carries a low D/E ratio of 0.36, meaning only $0.36 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 95/100, indicating a strong balance sheet with room for future borrowing.
Hormel Foods Corp's current ratio of 2.66 indicates adequate short-term liquidity, earning a score of 50/100. The company can meet its near-term obligations, though with limited headroom.
Hormel Foods Corp has a free cash flow margin of 4.4%, earning a moderate score of 36/100. The company generates positive cash flow after capital investments, but with room for improvement.
Hormel Foods Corp generates a 6.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 24/100. This is down from 10.0% the prior year.
Hormel Foods Corp scores 3.43, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Hormel Foods Corp passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Hormel Foods Corp generates $1.77 in operating cash flow ($845.3M OCF vs $478.2M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Hormel Foods Corp earns $9.2 in operating income for every $1 of interest expense ($718.6M vs $78.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Hormel Foods Corp generated $12.1B in revenue in fiscal year 2025. This represents an increase of 1.6% from the prior year.
Hormel Foods Corp's EBITDA was $982.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 25.9% from the prior year.
Hormel Foods Corp reported $478.2M in net income in fiscal year 2025. This represents a decrease of 40.6% from the prior year.
Hormel Foods Corp earned $0.87 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 40.8% from the prior year.
Cash & Balance Sheet
Hormel Foods Corp generated $534.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 47.1% from the prior year.
Hormel Foods Corp held $867.9M in cash against $2.9B in long-term debt as of fiscal year 2025.
Hormel Foods Corp paid $1.16 per share in dividends in fiscal year 2025. This represents an increase of 2.7% from the prior year.
Margins & Returns
Hormel Foods Corp's gross margin was 15.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.3 percentage points from the prior year.
Hormel Foods Corp's operating margin was 5.9% in fiscal year 2025, reflecting core business profitability. This is down 3.0 percentage points from the prior year.
Hormel Foods Corp's net profit margin was 4.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 2.8 percentage points from the prior year.
Hormel Foods Corp's ROE was 6.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 4.0 percentage points from the prior year.
Capital Allocation
Hormel Foods Corp invested $35.2M in research and development in fiscal year 2025. This represents a decrease of 2.5% from the prior year.
Hormel Foods Corp spent $0 on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.
Hormel Foods Corp invested $310.9M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 21.2% from the prior year.
HRL Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $3.0B0.0% | $3.0B-5.0% | $3.2B+5.0% | $3.0B+4.6% | $2.9B-3.0% | $3.0B-4.8% | $3.1B+8.3% | $2.9B |
| Cost of Revenue | $2.6B0.0% | $2.6B-6.7% | $2.7B+7.7% | $2.5B+5.4% | $2.4B-3.9% | $2.5B-3.9% | $2.6B+8.6% | $2.4B |
| Gross Profit | $469.6M0.0% | $469.6M+5.6% | $444.8M-8.7% | $487.3M+0.6% | $484.4M+1.9% | $475.2M-8.8% | $521.2M+6.7% | $488.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $241.7M0.0% | $241.7M+8.2% | $223.5M-13.6% | $258.7M+2.9% | $251.4M-4.4% | $263.0M+10.2% | $238.6M-8.1% | $259.7M |
| Operating Income | $243.7M0.0% | $243.7M+11114.8% | $2.2M-99.1% | $239.7M-3.5% | $248.4M+8.8% | $228.3M-22.5% | $294.5M+24.4% | $236.7M |
| Interest Expense | $19.7M0.0% | $19.7M+0.7% | $19.6M+0.7% | $19.5M-0.3% | $19.5M+0.3% | $19.5M+0.2% | $19.4M-9.5% | $21.5M |
| Income Tax | $52.5M0.0% | $52.5M+52.0% | $34.6M-34.5% | $52.8M+4.1% | $50.7M+6.7% | $47.5M-20.9% | $60.1M+22.6% | $49.0M |
| Net Income | $181.8M0.0% | $181.8M+423.9% | -$56.1M-130.6% | $183.7M+2.1% | $180.0M+5.5% | $170.6M-22.5% | $220.2M+24.6% | $176.7M |
| EPS (Diluted) | $0.330.0% | $0.33 | N/A | $0.330.0% | $0.33+6.5% | $0.31 | N/A | $0.32 |
HRL Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $13.3B0.0% | $13.3B-0.6% | $13.4B-0.8% | $13.5B+0.6% | $13.4B+0.1% | $13.4B-0.2% | $13.4B+2.4% | $13.1B |
| Current Assets | $3.4B0.0% | $3.4B-0.5% | $3.4B+2.5% | $3.3B+1.2% | $3.3B+0.5% | $3.3B+0.6% | $3.2B+8.3% | $3.0B |
| Cash & Equivalents | $867.9M0.0% | $867.9M+29.4% | $670.7M+11.9% | $599.2M-10.5% | $669.7M-20.3% | $840.4M+13.3% | $741.9M+38.0% | $537.5M |
| Inventory | $1.6B0.0% | $1.6B-5.7% | $1.7B-4.1% | $1.8B+5.4% | $1.7B+14.0% | $1.5B-3.8% | $1.6B-4.4% | $1.6B |
| Accounts Receivable | $696.3M0.0% | $696.3M-11.3% | $784.8M+2.7% | $764.3M+2.7% | $744.0M-3.1% | $767.8M-6.1% | $817.9M+12.5% | $727.1M |
| Goodwill | $4.9B0.0% | $4.9B-0.7% | $4.9B0.0% | $4.9B+0.1% | $4.9B+0.1% | $4.9B-0.1% | $4.9B0.0% | $4.9B |
| Total Liabilities | $5.4B0.0% | $5.4B-2.1% | $5.5B+1.4% | $5.4B+0.4% | $5.4B+0.3% | $5.4B-1.2% | $5.4B+3.7% | $5.2B |
| Current Liabilities | $1.3B0.0% | $1.3B-7.8% | $1.4B+2.6% | $1.3B+1.3% | $1.3B-0.3% | $1.3B-4.8% | $1.4B+6.8% | $1.3B |
| Long-Term Debt | $2.9B0.0% | $2.9B0.0% | $2.9B0.0% | $2.9B0.0% | $2.9B0.0% | $2.9B0.0% | $2.9B0.0% | $2.9B |
| Total Equity | $7.9B0.0% | $7.9B+0.5% | $7.9B-2.3% | $8.1B+0.6% | $8.0B0.0% | $8.0B+0.4% | $8.0B+1.6% | $7.9B |
| Retained Earnings | $7.5B0.0% | $7.5B+0.3% | $7.5B-2.8% | $7.7B+0.3% | $7.7B+0.3% | $7.7B+0.1% | $7.7B+0.9% | $7.6B |
HRL Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $349.2M0.0% | $349.2M+8.1% | $322.9M+106.1% | $156.7M+177.6% | $56.4M-81.7% | $309.2M-24.3% | $408.6M+87.4% | $218.0M |
| Capital Expenditures | $69.0M0.0% | $69.0M-24.6% | $91.5M+26.7% | $72.2M-3.8% | $75.1M+4.0% | $72.2M-13.9% | $83.8M+28.0% | $65.5M |
| Free Cash Flow | $280.2M0.0% | $280.2M+21.1% | $231.4M+173.9% | $84.5M+553.3% | -$18.6M-107.9% | $237.0M-27.0% | $324.8M+113.0% | $152.5M |
| Investing Cash Flow | $7.9M0.0% | $7.9M+108.5% | -$93.6M-41.1% | -$66.3M+15.3% | -$78.3M-29.8% | -$60.3M-0.5% | -$60.0M+6.5% | -$64.2M |
| Financing Cash Flow | -$162.4M0.0% | -$162.4M-2.7% | -$158.1M+3.2% | -$163.3M-9.2% | -$149.6M-4.5% | -$143.1M+4.8% | -$150.3M+86.3% | -$1.1B |
| Dividends Paid | $159.5M0.0% | $159.5M0.0% | $159.5M0.0% | $159.5M+0.1% | $159.2M+2.8% | $155.0M0.0% | $155.0M0.0% | $154.9M |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | $0 | $0 |
HRL Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 15.5%0.0pp | 15.5%+1.5pp | 14.0%-2.1pp | 16.1%-0.6pp | 16.7%+0.8pp | 15.9%-0.7pp | 16.6%-0.2pp | 16.9% |
| Operating Margin | 8.1%0.0pp | 8.1%+8.0pp | 0.1%-7.8pp | 7.9%-0.7pp | 8.6%+0.9pp | 7.6%-1.7pp | 9.4%+1.2pp | 8.2% |
| Net Margin | 6.0%0.0pp | 6.0%+7.8pp | -1.8%-7.8pp | 6.1%-0.2pp | 6.2%+0.5pp | 5.7%-1.3pp | 7.0%+0.9pp | 6.1% |
| Return on Equity | 2.3%0.0pp | 2.3%+3.0pp | -0.7%-3.0pp | 2.3%+0.0pp | 2.2%+0.1pp | 2.1%-0.6pp | 2.8%+0.5pp | 2.3% |
| Return on Assets | 1.4%0.0pp | 1.4%+1.8pp | -0.4%-1.8pp | 1.4%+0.0pp | 1.3%+0.1pp | 1.3%-0.4pp | 1.6%+0.3pp | 1.4% |
| Current Ratio | 2.660.0 | 2.66+0.2 | 2.470.0 | 2.470.0 | 2.47+0.0 | 2.45+0.1 | 2.32+0.0 | 2.29 |
| Debt-to-Equity | 0.360.0 | 0.360.0 | 0.360.0 | 0.350.0 | 0.350.0 | 0.350.0 | 0.360.0 | 0.36 |
| FCF Margin | 9.3%0.0pp | 9.3%+2.0pp | 7.3%+4.5pp | 2.8%+3.4pp | -0.6%-8.6pp | 7.9%-2.4pp | 10.3%+5.1pp | 5.3% |
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Frequently Asked Questions
What is Hormel Foods Corp's annual revenue?
Hormel Foods Corp (HRL) reported $12.1B in total revenue for fiscal year 2025. This represents a 1.6% 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 Hormel Foods Corp's revenue growing?
Hormel Foods Corp (HRL) revenue grew by 1.6% year-over-year, from $11.9B to $12.1B in fiscal year 2025.
Is Hormel Foods Corp profitable?
Yes, Hormel Foods Corp (HRL) reported a net income of $478.2M in fiscal year 2025, with a net profit margin of 4.0%.
What is Hormel Foods Corp's EBITDA?
Hormel Foods Corp (HRL) had EBITDA of $982.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Hormel Foods Corp have?
As of fiscal year 2025, Hormel Foods Corp (HRL) had $867.9M in cash and equivalents against $2.9B in long-term debt.
What is Hormel Foods Corp's gross margin?
Hormel Foods Corp (HRL) had a gross margin of 15.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Hormel Foods Corp's operating margin?
Hormel Foods Corp (HRL) had an operating margin of 5.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Hormel Foods Corp's net profit margin?
Hormel Foods Corp (HRL) had a net profit margin of 4.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Hormel Foods Corp pay dividends?
Yes, Hormel Foods Corp (HRL) paid $1.16 per share in dividends during fiscal year 2025.
What is Hormel Foods Corp's return on equity (ROE)?
Hormel Foods Corp (HRL) has a return on equity of 6.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Hormel Foods Corp's free cash flow?
Hormel Foods Corp (HRL) generated $534.3M in free cash flow during fiscal year 2025. This represents a -47.1% 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 Hormel Foods Corp's operating cash flow?
Hormel Foods Corp (HRL) generated $845.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Hormel Foods Corp's total assets?
Hormel Foods Corp (HRL) had $13.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Hormel Foods Corp's capital expenditures?
Hormel Foods Corp (HRL) invested $310.9M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Hormel Foods Corp spend on research and development?
Hormel Foods Corp (HRL) invested $35.2M in research and development during fiscal year 2025.
What is Hormel Foods Corp's current ratio?
Hormel Foods Corp (HRL) had a current ratio of 2.66 as of fiscal year 2025, which is generally considered healthy.
What is Hormel Foods Corp's debt-to-equity ratio?
Hormel Foods Corp (HRL) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Hormel Foods Corp's return on assets (ROA)?
Hormel Foods Corp (HRL) had a return on assets of 3.6% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Hormel Foods Corp's Altman Z-Score?
Hormel Foods Corp (HRL) has an Altman Z-Score of 3.43, placing it in the Safe Zone (low 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 Hormel Foods Corp's Piotroski F-Score?
Hormel Foods Corp (HRL) has a Piotroski F-Score of 5 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 Hormel Foods Corp's earnings high quality?
Hormel Foods Corp (HRL) has an earnings quality ratio of 1.77x, 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 Hormel Foods Corp cover its interest payments?
Hormel Foods Corp (HRL) has an interest coverage ratio of 9.2x, meaning it can comfortably 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 Hormel Foods Corp?
Hormel Foods Corp (HRL) 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.