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Smithfield Foods Inc. Financials

SFD
Source SEC Filings (10-K/10-Q) Data as of Mar 29, 2026 Currency USD FYE December

This page shows Smithfield Foods Inc. (SFD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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).

Rhea AI SFD FY2025

Smithfield’s margin recovery has turned into cash-rich, low-capex earnings rather than a debt-funded rebound.

Since the prior weak year, gross margin recovered to about 13.5% and stayed there while capital spending held near $341M, so the earnings rebound came from a wider operating spread, not from pouring more money back into the asset base. With operating cash flow at $1.1B and long-term debt still around $2.0B, the improvement is showing up as balance-sheet strength rather than just cleaner income-statement optics.

Revenue increased even as inventory fell to $2.3B, which suggests less cash is tied up in stock than during the weaker period. But accounts receivable climbed to $1.0B, so some of the sales recovery is now sitting in customer credit rather than arriving immediately as cash.

The company looks more self-funded: cash reached $1.5B while interest expense dropped to $41M, despite long-term debt staying broadly flat. Free cash flow of $718M covered the $396M dividend bill, meaning payouts were funded by operations rather than by new borrowing.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 58 / 100
Financial Health Score 58/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Smithfield Foods Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
54

Smithfield Foods Inc. has an operating margin of 8.3%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 54/100, indicating healthy but not exceptional operating efficiency. This is up from 7.9% the prior year.

Growth
43

Smithfield Foods Inc.'s revenue grew 9.8% year-over-year to $15.5B, a solid pace of expansion. This earns a growth score of 43/100.

Leverage
70

Smithfield Foods Inc. carries a low D/E ratio of 0.29, meaning only $0.29 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 70/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
76

With a current ratio of 2.97, Smithfield Foods Inc. holds $2.97 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.

Cash Flow
43

Smithfield Foods Inc. has a free cash flow margin of 4.6%, earning a moderate score of 43/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns
61

Smithfield Foods Inc.'s ROE of 14.5% shows moderate profitability relative to equity, earning a score of 61/100. This is down from 16.3% the prior year.

Altman Z-Score Safe
3.49

Smithfield Foods Inc. scores 3.49, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Neutral
6/9

Smithfield Foods Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed
1.07x

For every $1 of reported earnings, Smithfield Foods Inc. generates $1.07 in operating cash flow ($1.1B OCF vs $987.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Safe
31.5x

Smithfield Foods Inc. earns $31.5 in operating income for every $1 of interest expense ($1.3B vs $41.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$15.5B
YoY+9.8%
5Y CAGR+2.2%

Smithfield Foods Inc. generated $15.5B in revenue in fiscal year 2025. This represents an increase of 9.8% from the prior year.

EBITDA
$1.6B
YoY+11.5%
5Y CAGR+16.4%

Smithfield Foods Inc.'s EBITDA was $1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 11.5% from the prior year.

Net Income
$987.0M
YoY+3.6%
5Y CAGR+52.2%

Smithfield Foods Inc. reported $987.0M in net income in fiscal year 2025. This represents an increase of 3.6% from the prior year.

EPS (Diluted)
$2.51
YoY+0.0%

Smithfield Foods Inc. earned $2.51 per diluted share (EPS) in fiscal year 2025. This represents an increase of 0.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$718.0M
YoY+26.9%

Smithfield Foods Inc. generated $718.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 26.9% from the prior year.

Cash & Debt
$1.5B
YoY+63.2%
5Y CAGR+51.4%

Smithfield Foods Inc. held $1.5B in cash against $2.0B in long-term debt as of fiscal year 2025.

Dividends Per Share
$1.00

Smithfield Foods Inc. paid $1.00 per share in dividends in fiscal year 2025.

Shares Outstanding
393M
YoY+3.4%

Smithfield Foods Inc. had 393M shares outstanding in fiscal year 2025. This represents an increase of 3.4% from the prior year.

Margins & Returns

Gross Margin
13.5%
YoY+0.0pp
5Y CAGR+4.8pp

Smithfield Foods Inc.'s gross margin was 13.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.0 percentage points from the prior year.

Operating Margin
8.3%
YoY+0.4pp
5Y CAGR+5.9pp

Smithfield Foods Inc.'s operating margin was 8.3% in fiscal year 2025, reflecting core business profitability. This is up 0.4 percentage points from the prior year.

Net Margin
6.4%
YoY-0.4pp
5Y CAGR+5.5pp

Smithfield Foods Inc.'s net profit margin was 6.4% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.4 percentage points from the prior year.

Return on Equity
14.5%
YoY-1.8pp
5Y CAGR+11.7pp

Smithfield Foods Inc.'s ROE was 14.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 1.8 percentage points from the prior year.

Capital Allocation

R&D Spending
$214.0M
YoY+48.6%
5Y CAGR+21.5%

Smithfield Foods Inc. invested $214.0M in research and development in fiscal year 2025. This represents an increase of 48.6% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$341.0M
YoY-2.6%
5Y CAGR+4.2%

Smithfield Foods Inc. invested $341.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 2.6% from the prior year.

SFD Income Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Revenue $3.8B-10.1% $4.2B+12.8% $3.7B-1.0% $3.8B+0.4% $3.8B-4.6% $4.0B+18.5% $3.3B-2.3% $3.4B
Cost of Revenue $3.3B-9.2% $3.6B+10.9% $3.3B-0.6% $3.3B+0.8% $3.3B-4.5% $3.4B+19.5% $2.9B-0.9% $2.9B
Gross Profit $511.0M-15.0% $601.0M+25.5% $479.0M-4.0% $499.0M-2.2% $510.0M-4.1% $532.0M+11.8% $476.0M-9.7% $527.0M
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $180.0M-12.6% $206.0M+15.7% $178.0M-33.6% $268.0M+36.0% $197.0M-20.2% $247.0M+23.5% $200.0M+3.1% $194.0M
Operating Income $333.0M-17.0% $401.0M+29.4% $310.0M+19.2% $260.0M-19.0% $321.0M-4.5% $336.0M+17.9% $285.0M-14.7% $334.0M
Interest Expense $8.0M0.0% $8.0M-27.3% $11.0M0.0% $11.0M0.0% $11.0M-21.4% $14.0M-17.6% $17.0M-10.5% $19.0M
Income Tax $72.0M-7.7% $78.0M+9.9% $71.0M+14.5% $62.0M-13.9% $72.0M-31.4% $105.0M+52.2% $69.0M+19.0% $58.0M
Net Income $246.0M-24.8% $327.0M+31.9% $248.0M+31.9% $188.0M-16.1% $224.0M+9.3% $205.0M-29.6% $291.0M-3.3% $301.0M
EPS (Diluted) $0.62 N/A $0.63+31.3% $0.48-15.8% $0.57 N/A $0.77-2.5% $0.79

SFD Balance Sheet

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Total Assets $12.0B-1.4% $12.2B+5.7% $11.5B+3.0% $11.2B+0.4% $11.1B+0.8% $11.1B N/A N/A
Current Assets $5.0B-2.6% $5.2B+12.5% $4.6B+7.0% $4.3B-1.0% $4.3B+3.1% $4.2B N/A N/A
Cash & Equivalents $1.4B-9.9% $1.5B+99.1% $773.0M-16.7% $928.0M0.0% $928.0M-1.6% $943.0M+239.2% $278.0M+29.3% $215.0M
Inventory $2.3B+0.9% $2.3B-5.7% $2.5B+7.9% $2.3B-4.1% $2.4B-1.1% $2.4B N/A N/A
Accounts Receivable $1.1B+4.2% $1.0B-1.6% $1.0B+34.5% $773.0M+1.8% $759.0M+36.0% $558.0M N/A N/A
Goodwill $1.6B-0.1% $1.6B+0.1% $1.6B+0.1% $1.6B+0.4% $1.6B0.0% $1.6B N/A N/A
Total Liabilities $5.1B-4.4% $5.4B+6.3% $5.1B+3.5% $4.9B-0.7% $4.9B-5.7% $5.2B N/A N/A
Current Liabilities $2.1B+19.8% $1.7B+17.6% $1.5B+10.5% $1.3B-3.9% $1.4B-18.3% $1.7B N/A N/A
Long-Term Debt $1.4B-29.5% $2.0B-0.7% $2.0B0.0% $2.0B+0.1% $2.0B+0.9% $2.0B N/A N/A
Total Equity $6.9B+0.9% $6.8B+5.2% $6.5B+2.6% $6.3B+1.2% $6.2B+6.7% $5.8B N/A N/A
Retained Earnings $3.9B+3.2% $3.8B+6.4% $3.5B+4.4% $3.4B+2.7% $3.3B+3.9% $3.2B N/A N/A

SFD Cash Flow Statement

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Operating Cash Flow -$65.0M-106.9% $938.0M+7115.4% $13.0M-95.3% $274.0M+265.1% -$166.0M-124.3% $683.0M+182.2% $242.0M+15.2% $210.0M
Capital Expenditures $88.0M-7.4% $95.0M+8.0% $88.0M+12.8% $78.0M-1.3% $79.0M-3.7% $82.0M-13.7% $95.0M+18.8% $80.0M
Free Cash Flow -$153.0M-118.1% $843.0M+1224.0% -$75.0M-138.3% $196.0M+180.0% -$245.0M-140.8% $601.0M+308.8% $147.0M+13.1% $130.0M
Investing Cash Flow -$80.0M N/A N/A N/A -$85.0M N/A N/A N/A
Financing Cash Flow -$5.0M N/A N/A N/A $236.0M N/A N/A N/A
Dividends Paid N/A $99.0M-1.0% $100.0M-49.2% $197.0M $0-100.0% $18.0M-79.5% $88.0M-6.4% $94.0M
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

SFD Financial Ratios

Metric Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24
Gross Margin 13.5%-0.8pp 14.2%+1.4pp 12.8%-0.4pp 13.2%-0.3pp 13.5%+0.1pp 13.5%-0.8pp 14.3%-1.2pp 15.4%
Operating Margin 8.8%-0.7pp 9.5%+1.2pp 8.3%+1.4pp 6.9%-1.6pp 8.5%0.0pp 8.5%-0.1pp 8.6%-1.2pp 9.8%
Net Margin 6.5%-1.3pp 7.7%+1.1pp 6.6%+1.6pp 5.0%-1.0pp 5.9%+0.8pp 5.2%-3.5pp 8.7%-0.1pp 8.8%
Return on Equity 3.6%-1.2pp 4.8%+1.0pp 3.8%+0.9pp 3.0%-0.6pp 3.6%+0.1pp 3.5% N/A N/A
Return on Assets 2.1%-0.6pp 2.7%+0.5pp 2.1%+0.5pp 1.7%-0.3pp 2.0%+0.2pp 1.8% N/A N/A
Current Ratio 2.41-0.6 2.97-0.1 3.10-0.1 3.21+0.1 3.11+0.6 2.46 N/A N/A
Debt-to-Equity 0.20-0.1 0.29-0.0 0.310.0 0.320.0 0.32-0.0 0.34 N/A N/A
FCF Margin -4.0%-24.0pp 19.9%+21.9pp -2.0%-7.2pp 5.2%+11.7pp -6.5%-21.7pp 15.2%+10.8pp 4.4%+0.6pp 3.8%

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Frequently Asked Questions

Smithfield Foods Inc. (SFD) reported $15.5B in total revenue for fiscal year 2025. This represents a 9.8% 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.

Smithfield Foods Inc. (SFD) revenue grew by 9.8% year-over-year, from $14.1B to $15.5B in fiscal year 2025.

Yes, Smithfield Foods Inc. (SFD) reported a net income of $987.0M in fiscal year 2025, with a net profit margin of 6.4%.

Smithfield Foods Inc. (SFD) reported diluted earnings per share of $2.51 for fiscal year 2025. This represents a 0.0% 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.

Smithfield Foods Inc. (SFD) had EBITDA of $1.6B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Smithfield Foods Inc. (SFD) had $1.5B in cash and equivalents against $2.0B in long-term debt.

Smithfield Foods Inc. (SFD) had a gross margin of 13.5% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Smithfield Foods Inc. (SFD) had an operating margin of 8.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Smithfield Foods Inc. (SFD) had a net profit margin of 6.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Yes, Smithfield Foods Inc. (SFD) paid $1.00 per share in dividends during fiscal year 2025.

Smithfield Foods Inc. (SFD) has a return on equity of 14.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Smithfield Foods Inc. (SFD) generated $718.0M in free cash flow during fiscal year 2025. This represents a 26.9% 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.

Smithfield Foods Inc. (SFD) generated $1.1B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Smithfield Foods Inc. (SFD) had $12.2B in total assets as of fiscal year 2025, including both current and long-term assets.

Smithfield Foods Inc. (SFD) invested $341.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Smithfield Foods Inc. (SFD) invested $214.0M in research and development during fiscal year 2025.

Smithfield Foods Inc. (SFD) had 393M shares outstanding as of fiscal year 2025.

Smithfield Foods Inc. (SFD) had a current ratio of 2.97 as of fiscal year 2025, which is generally considered healthy.

Smithfield Foods Inc. (SFD) had a debt-to-equity ratio of 0.29 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Smithfield Foods Inc. (SFD) had a return on assets of 8.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Smithfield Foods Inc. (SFD) has an Altman Z-Score of 3.49, 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.

Smithfield Foods Inc. (SFD) 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Smithfield Foods Inc. (SFD) has an earnings quality ratio of 1.07x, 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.

Smithfield Foods Inc. (SFD) has an interest coverage ratio of 31.5x, 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.

Smithfield Foods Inc. (SFD) scores 58 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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