Conagra Brands (CAG)
Consumer Staples · $7.1B market cap · SEC CIK 0000023217
fundamentals score out of 100
Next reports on Mar 30, 2027, with analysts expecting $0.37 in earnings per share.
The case for CAG
- Trades at 0.99× book value, below what the balance sheet says it owns.
- Free cash flow of 13.8% of its market value a year: a lot of cash for the price.
- Pays a 4.9% dividend while you wait.
- Moves less than the market (beta 0.00).
The case against
- Losing money over the last year: net margin -17.0%, return on equity -24%.
- Revenue slipped 2.9% on the year.
- Long-term debt of $7.2B would take 5 years of operating cash flow to repay.
- Pays a dividend while losing money over the last twelve months.
- Current liabilities exceed current assets (ratio 0.90).
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. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 49 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 28 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 6 |
| Momentumhow the price has behaved lately | 42 |
| Stabilityhow violently it moves, what it owes and what it pays you | 49 |
- 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.
Key numbers
| Price / earnings | n/a |
|---|---|
| Price / book | 0.99× |
| Price / sales | 0.6× |
| Revenue growth (YoY) | -2.9% |
| EPS growth (YoY) | — |
| Gross margin | 24% |
| Operating margin | -15% |
| Net margin | -17% |
| Return on equity | -24% |
| Debt / equity | 1.14× |
| Current ratio | 0.90 |
| Dividend yield | 4.91% |
| Beta | 0.00 |
| 52-week range | $12.53 – $20.32 |
| Position in that range | 29% of the way up |
| 3-month return | +12.6% |
| 1-year return | -19.8% |
Five years of financials, as filed
Pulled from Conagra Brands's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $11.3B | $11.6B | $12.1B | $12.3B | $11.5B |
| Gross profit | $2.7B | $3.0B | $3.3B | $3.3B | — |
| Operating income | -$1.6B | $1.4B | $853M | $1.1B | $1.6B |
| Net income | -$1.9B | $1.2B | $348M | $683M | $888M |
| Operating cash flow | $1.4B | $1.7B | $2.0B | $995M | $1.2B |
| Capital expenditure | $423M | $389M | $388M | $362M | $464M |
| Total assets | $19.5B | $21.0B | $22.1B | $22.4B | $22.6B |
| Total liabilities | $11.4B | $12.2B | $13.0B | $13.7B | $13.8B |
| Shareholder equity | — | $8.8B | $9.0B | $8.7B | $8.7B |
| Cash | $46.6M | $37.4M | $61.5M | $39.7M | $68.7M |
| Long-term debt | $7.2B | $7.3B | $8.5B | $9.0B | $8.8B |
| Free cash flow | $979M | $1.3B | $1.6B | $633M | $713M |
| Gross margin | 23.9% | 25.9% | 27.7% | 26.6% | — |
| Operating margin | -14.4% | 11.8% | 7.1% | 8.8% | 13.8% |
| Net margin | -17.0% | 9.9% | 2.9% | 5.6% | 7.7% |
| Diluted shares | 479M | 480M | 480M | 481M | 482M |
Share count is essentially flat over 4 years.
What Conagra Brands says it does
_893180"> ITEM 1. BUSINESS General 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…
Risk factors CAG lists in its 10-K
- Legal, Regulatory, and Environmental Risks
- Cybersecurity, Information Technology Risks, and AI-Related Risks
- Goodwill or Other Intangible Assets Risks