Conagra Brands (CAG)

Consumer Staples · $7.3B market cap · SEC CIK 0000023217

Next reports on Dec 17, 2026, with analysts expecting $0.35 in earnings per share.

52-week range $12.53 to $20.32. 25% below its 52-week high and 21% above its low.

The case for CAG

• Free cash flow of 13.4% of its market value a year: a lot of cash for the price.
• Pays a 4.9% dividend while you wait.
• Trades at 1.20× book value, close to what the balance sheet says it owns.
• Moves less than the market (beta −0.04).
• Price/sales of 0.6× is lower than 86% of Consumer Staples companies.

The case against

• Losing money over the last year: net margin −16.9%, return on equity −26%.
• Pays a dividend while losing money over the last twelve months.
• Revenue was flat on the year (−1.8%).
• The price trend is weak (41/100): −10.8% over a year, +3.5% over three months, 25% below its 52-week high.
• Long-term debt of $6.5B against $218M of cash.
• Trailed the S&P 500 by 23 points over the past year.

What the score is made of

Each factor is half a curve over reported figures and half a rank among the other Consumer Staples companies (momentum is judged against fixed thresholds only), and the five are blended by weight. The score is where that blend places it in the S&P 500. It describes the last filing and the current price. It is not a forecast.

• It is losing money, so it has no P/E; that counts against value rather than being skipped.
• Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.

The financials

The financials, five years deep

Pulled from Conagra Brands's XBRL filings on SEC EDGAR. Italic rows are worked out from the others.

What Conagra Brands says it does

Development of Business Conagra Brands, Inc. (the “Company”, “Conagra Brands”, “we”, “us”, or “our”), headquartered in Chicago, is one of North America’s leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The Company’s portfolio is continuously evolving to satisfy consumers’ ever-changing food preferences. Conagra’s brands include Birds Eye ® , Duncan Hines ® , Healthy Choice ® , Marie Callender’s ® , Reddi-wip ® , Slim Jim ® , Angie’s ® BOOMCHICKAPOP ® , and many more. We began as a Midwestern flour-milling company and entered other commodity-based businesses throughout our history. We were initially incorporated as a Nebraska corporation in 1919 and reincorporated as a Delaware corporation in 1976. Over time, we transformed into the branded, pure-play consumer packaged goods food company we are today. Growing our food businesses has…

Risk factors CAG lists in its 10-K

• Inflation, increased interest rates, and other economic conditions including potential recession and credit market disruptions, could negatively impact our business
• Our business, financial condition, and results of operations have in the past been and could continue to be adversely affected by disruptions in the global economy caused by geopolitical conflicts
• Increases in commodity costs have in the past and may continue to have a negative impact on profits
• Volatility in the market value of derivatives we use to manage exposures to fluctuations in commodity prices will cause volatility in our gross margins and net earnings
• Supply chain disruptions have in the past and could continue to negatively impact our profitability
• We have in the past been and may in the future be subject to product recalls, product liability and labeling claims, and changing legal or regulatory requirements, any of which could negatively impact our profitability
• Any damage to our reputation could have a material adverse effect on our business, financial condition, and results of operations
• Due to the seasonality of the business, our revenue and operating results may vary from quarter to quarter
• We rely on cash from our subsidiaries to meet our cash flow needs and service our debt
• Increased competition may result in reduced sales or profits
• If we do not achieve the appropriate cost structure in the highly competitive food industry, our profitability could decrease
• Failure to modernize and adopt new technologies, including artificial intelligence technology and solutions, could disadvantage us competitively
• We must identify changing consumer preferences and develop and offer food products and packaging to meet their preferences
• Changes in our relationships with significant customers, including our largest customer, could adversely affect us
• The sophistication and buying power of our customers could have a negative impact on profits
• Disruptions to our supply chain have had and could continue to have an adverse impact on our business, financial condition, and results of operations
• Dependency on contract manufacturing arrangements could impact our sales volume and adversely affect our results of operations
• As we outsource certain functions, we become more dependent on the third parties performing those functions
• Our operations are dependent on a wide array of third parties
• We may be negatively impacted by cybersecurity incidents involving third parties in our supply chain
• If we fail to comply with the many laws applicable to our business, we may face lawsuits or incur significant fines and penalties. In addition, changes in such laws may lead to increased costs
• Climate change, or legal, regulatory, or market measures to address climate change, may negatively affect our business and operations
• Our business operations could be disrupted if our information technology systems fail to perform adequately
• We are exposed to cybersecurity risk through our information systems and our use of third-party information systems
• We are subject to a variety of privacy and data protection laws and regulations
• We are exposed to risk based on our increasing adoption and use of AI in a rapidly-evolving regulatory landscape
• We rely on our management team and other key personnel
• Our results could be adversely impacted as a result of increased pension, labor, and people-related expenses
• Impairment in the carrying value of goodwill or other intangibles could result in the incurrence of impairment charges and negatively impact our net worth
• We may not repurchase the full share repurchase value currently authorized
• If we are unable to successfully identify, complete or realize the benefits from strategic acquisitions, divestitures, joint ventures or investments, our financial results could be materially and adversely affected
• Our acquisition, divestiture, joint venture and investment activities may present financial, managerial, and operational risks
• Our intellectual property rights are valuable, and any inability to protect them could have an adverse impact on our business, financial condition, and results of operations

Filings

Other Consumer Staples companies