Campbell's (CPB)
Consumer Staples · $6.0B market cap · SEC CIK 0000016732
fundamentals score out of 100
Next reports on Mar 9, 2027, with analysts expecting $0.42 in earnings per share.
The case for CPB
- Free cash flow of 11.8% of its market value a year: a lot of cash for the price.
- Pays a 3.6% dividend while you wait.
- Reasonably priced at 15.1× earnings.
- Moves less than the market (beta 0.05).
- Price/sales of 0.6× is lower than 86% of Consumer Staples companies.
The case against
- Earnings per share down 33.7%.
- Down 40.4% over the past year.
- Revenue slipped 5.0% on the year.
- Current liabilities exceed current assets (ratio 0.82).
- Near the bottom of its 52-week range, 41% below the high. Falling prices usually have a reason; find it first.
- Profitability is weak (39/100): return on equity 10%, net margin 4.1%, gross margin 29%, 117% of profit turned to cash.
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 | 89 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 22 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 39 |
| Momentumhow the price has behaved lately | 16 |
| Stabilityhow violently it moves, what it owes and what it pays you | 45 |
- Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.
Key numbers
| Price / earnings | 15.1× |
|---|---|
| Price / book | 1.73× |
| Price / sales | 0.6× |
| Revenue growth (YoY) | -5.0% |
| EPS growth (YoY) | -33.7% |
| Gross margin | 29% |
| Operating margin | 9% |
| Net margin | 4% |
| Return on equity | 10% |
| Debt / equity | 1.85× |
| Current ratio | 0.82 |
| Dividend yield | 3.60% |
| Beta | 0.05 |
| 52-week range | $19.56 – $34.17 |
| Position in that range | 4% of the way up |
| 3-month return | -5.8% |
| 1-year return | -40.4% |
Five years of financials, as filed
Pulled from Campbell's's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $10.3B | $9.6B | $9.4B | $8.6B | $8.5B |
| Operating income | $1.1B | $1.0B | $1.3B | $1.2B | $1.5B |
| Net income | $602M | $567M | $858M | $757M | $1.0B |
| Operating cash flow | $1.1B | $1.2B | $1.1B | $1.2B | $1.0B |
| Capital expenditure | $426M | $517M | $370M | $242M | $275M |
| Total assets | $15.3B | $15.9B | $12.1B | $12.0B | $12.0B |
| Total liabilities | $11.3B | $12.0B | $8.3B | $8.4B | $8.6B |
| Shareholder equity | $4.0B | $3.9B | $3.8B | $3.6B | $3.4B |
| Cash | $561M | $829M | $169M | $158M | $357M |
| Free cash flow | $705M | $668M | $773M | $939M | $760M |
| Operating margin | 11.0% | 10.4% | 14.0% | 13.6% | 18.2% |
| Net margin | 5.9% | 5.9% | 9.2% | 8.8% | 11.8% |
| Diluted shares | 300M | 300M | 301M | 302M | 305M |
Share count is essentially flat over 4 years.
What Campbell's says it does
The Company Unless otherwise stated, the terms "we," "us," "our" and the "company" refer to The Campbell's Company and its consolidated subsidiaries. We are a manufacturer and marketer of high-quality, branded food and beverage products. We organized as a business corporation under the laws of New Jersey on November 23, 1922; however, through predecessor organizations, we trace our heritage in the food business back to 1869. Our principal executive offices are in Camden, New Jersey 08103-1799. On March 12, 2024, we completed the acquisition of Sovos Brands, Inc. (Sovos Brands) for total purchase consideration of $2.899 billion. For additional information on this acquisition, see Note 3 to the Consolidated Financial Statements. On May 30, 2023, we completed the sale of our Emerald nuts business. On August 26, 2024, we completed the sale of our Pop Secret popcorn business. On February 24, 2025, we completed the sale of our noosa yoghurt…
Risk factors CPB lists in its 10-K
- Deterioration of global macroeconomic conditions, including economic recession or slow growth or periods of higher inflation in key markets may adversely affect consumer spending and demand for our products
- Changes in global trade policies, including imposed and threatened tariffs by the U.S. and reciprocal tariffs by its trading partners, remain uncertain and could impact our financial condition or results of operations
- We may not be able to increase prices or sustain price increases to fully offset inflationary pressures on costs, such as raw and
- packaging materials, finished products, labor and distribution costs
- Disruption to our supply chain could adversely affect our business
- Our results may be adversely affected by our inability to complete or realize the projected benefits of acquisitions, divestitures and other strategic transactions
- Our intellectual property rights are valuable, and any inability to protect them could reduce the value of our products and brands
- Our results may be adversely impacted if consumers do not maintain their favorable perception of our brands
- We may be adversely impacted by a disruption, failure or security breach of our information technology systems
- We may not be able to attract and retain the highly skilled people we need to support our business
- If we do not fully realize the expected cost savings and/or operating efficiencies associated with our strategic initiatives, our profitability could suffer
- We face significant competition in all our product categories, which may result in lower sales and margins
- We may be adversely impacted by a changing customer landscape and the increased significance of some of our customers
- An impairment of the carrying value of goodwill or other indefinite-lived intangible assets could adversely affect our financial results and net worth