Financials Hormel Foods Corporation

Equities

HRL

US4404521001

Food Processing

Market Closed - Nyse Other stock markets 02:30:02 21/01/2026 am IST			5-day change	1st Jan Change
24.56 ^USD	+1.40%		+4.51%	+3.63%

16/01	Where the Money's Moving
16/01	Small Minneapolis businesses hit hard by ICE crackdown, while corporations stay silent	RE

Projected Income Statement: Hormel Foods Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	11,386	12,459	12,110	11,921	12,106	12,396	12,674	12,920
Change	-	9.42%	-2.8%	-1.56%	1.55%	2.39%	2.25%	1.94%
EBITDA ¹	1,394	1,575	1,438	1,404	1,282	1,371	1,443	1,505
Change	-	12.99%	-8.69%	-2.42%	-8.63%	6.9%	5.26%	4.28%
EBIT ¹	1,166	1,313	1,185	1,146	1,019	1,086	1,157	1,220
Change	-	12.59%	-9.72%	-3.32%	-11.11%	6.61%	6.53%	5.51%
Interest Paid ¹	-43.31	-62.52	-73.4	-80.89	-78.04	-71.2	-66.07	-67.45
Earnings before Tax (EBT)	1,126	1,278	1,013	1,035	663.4	-	1,114	1,170
Change	-	13.49%	-20.7%	2.17%	-35.93%	-	-	4.98%
Net income ¹	908.8	1,000	793.6	805	478.2	691.6	838.5	880.9
Change	-	10.03%	-20.64%	1.44%	-40.6%	44.62%	21.24%	5.06%
Announcement Date	09/12/21	30/11/22	29/11/23	04/12/24	04/12/25	-	-	-

¹USD in Million

Estimates

Fiscal Period: October	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4
Net sales ¹	2,461	2,607	2,864	3,455	3,044	3,097	3,034	3,283	2,971	2,978	2,963	3,198	2,997	2,887	2,898	3,138	2,989	2,899	3,033	3,186	3,074	2,990	3,078	3,250	3,156	3,058	3,141	3,334
Change	-	5.91%	9.86%	20.64%	-11.88%	1.71%	-2.01%	8.21%	-9.52%	0.22%	-0.48%	7.92%	-6.29%	-3.66%	0.38%	8.27%	-4.76%	-3.01%	4.62%	5.04%	-3.5%	-2.73%	2.93%	5.59%	-2.89%	-3.1%	2.71%	6.12%
EBITDA ¹	319.1	341.7	307	423.6	384	396.9	356.2	438.3	360.3	366.6	361.5	381.9	358.8	339.5	330.9	374.3	319.9	328.9	318.9	314.7	308.1	338.4	344.8	379.6	367.3	348.6	362.6	392.7
Change	-	7.09%	-10.14%	37.97%	-9.36%	3.37%	-10.26%	23.07%	-17.79%	1.73%	-1.38%	5.65%	-6.05%	-5.37%	-2.56%	13.13%	-14.53%	2.8%	-3.02%	-1.33%	-2.1%	9.84%	1.89%	10.09%	-3.24%	-5.09%	4.02%	8.3%
EBIT ¹	268	289.4	247.8	357.7	319.7	334.7	291	367.2	289.5	295.8	286.8	313.1	294.8	275.9	267.2	307.9	254	264.9	254.2	245.3	237.4	266.6	273.8	306.7	282.8	276.2	291.6	320
Change	-	7.98%	-14.36%	44.32%	-10.63%	4.71%	-13.05%	26.16%	-21.17%	2.19%	-3.06%	9.18%	-5.85%	-6.39%	-3.16%	15.24%	-17.49%	4.27%	-4.02%	-3.51%	-3.24%	12.31%	2.71%	12%	-7.79%	-2.33%	5.59%	9.7%
Charge d'intérêts ¹	-8.227	-7.788	-11.7	-15.59	-14.64	-14.66	-15.62	-17.6	-18.35	-18.32	-18.37	-18.36	-18.33	-21.68	-21.46	-19.43	-19.46	-19.52	-19.46	-19.6	-19.53	-18.2	-17.53	-17.57	-16.5	-16.5	-16.5	-16.55
Earnings before Tax (EBT)	277.1	292.6	204.2	352.2	308.9	321.9	289.8	357.5	281.2	278.8	207.6	245.8	285.5	244.1	225.7	280	218.1	230.5	236.5	-21.63	-	-	-	-	278.6	259.7	273.4	303.3
Change	-	5.61%	-30.2%	72.46%	-12.3%	4.2%	-9.95%	23.34%	-21.34%	-0.84%	-25.54%	18.39%	16.17%	-14.5%	-7.54%	24.06%	-22.13%	5.69%	2.61%	-109.14%	-	-	-	-	-	-6.78%	5.28%	10.94%
Net income	222.3	227.9	176.9	281.7	239.6	261.6	218.9	279.9	217.7	217.2	162.7	195.9	218.9	189.3	176.7	220.2	170.6	180	183.7	-56.14	-	-	-	-	217.3	202.6	213.3	236.6
Change	-	2.53%	-22.37%	59.25%	-14.97%	9.2%	-16.32%	27.85%	-22.21%	-0.22%	-25.12%	20.44%	11.7%	-13.52%	-6.64%	24.62%	-22.53%	5.54%	2.07%	-130.55%	-	-	-	-	-	-6.76%	5.28%	10.92%
Announcement Date	18/02/21	20/05/21	02/09/21	09/12/21	01/03/22	02/06/22	01/09/22	30/11/22	02/03/23	01/06/23	31/08/23	29/11/23	29/02/24	30/05/24	04/09/24	04/12/24	27/02/25	29/05/25	28/08/25	04/12/25	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Hormel Foods Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	2,689	2,453	2,556	2,092	2,154	2,093	1,929	1,771
Change	-	-8.78%	4.2%	-18.15%	2.96%	-2.82%	-7.84%	-8.19%
Announcement Date	09/12/21	30/11/22	29/11/23	04/12/24	04/12/25	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Hormel Foods Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	232.4	278.9	270.2	256.4	310.9	273.3	280.1	270.9
Change	-	20.01%	-3.12%	-5.1%	21.24%	-12.08%	2.48%	-3.29%
Free Cash Flow (FCF) ¹	769.5	856.1	777.6	1,010	534.3	822	922	982.5
Change	-	11.25%	-9.16%	29.92%	-47.11%	53.83%	12.17%	6.56%
Announcement Date	09/12/21	30/11/22	29/11/23	04/12/24	04/12/25	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Hormel Foods Corporation

Fiscal Period: October	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	12.24%	12.64%	11.88%	11.77%	10.59%	11.06%	11.39%	11.65%
EBIT Margin (%)	10.24%	10.54%	9.79%	9.61%	8.41%	8.76%	9.13%	9.45%
EBT Margin (%)	9.89%	10.26%	8.37%	8.69%	5.48%	-	8.79%	9.06%
Net margin (%)	7.98%	8.03%	6.55%	6.75%	3.95%	5.58%	6.62%	6.82%
FCF margin (%)	6.76%	6.87%	6.42%	8.48%	4.41%	6.63%	7.27%	7.6%
FCF / Net Income (%)	84.67%	85.61%	97.99%	125.5%	111.74%	118.86%	109.96%	111.53%
Profitability
ROA	8.04%	7.69%	5.93%	5.99%	5.63%	5.57%	6.19%	6.59%
ROE	12.91%	13.79%	11.56%	11.01%	6.02%	9.71%	10.48%	10.99%
Financial Health
Leverage (Debt/EBITDA)	1.93x	1.56x	1.78x	1.49x	1.68x	1.53x	1.34x	1.18x
Debt / Free cash flow	3.49x	2.87x	3.29x	2.07x	4.03x	2.55x	2.09x	1.8x
Capital Intensity
CAPEX / Current Assets (%)	2.04%	2.24%	2.23%	2.15%	2.57%	2.21%	2.21%	2.1%
CAPEX / EBITDA (%)	16.67%	17.71%	18.79%	18.27%	24.24%	19.94%	19.41%	18%
CAPEX / FCF (%)	30.2%	32.58%	34.75%	25.38%	58.18%	33.25%	30.38%	27.57%
Items per share
Cash flow per share ¹	1.83	2.065	1.909	2.308	1.535	1.949	2.002	2.09
Change	-	12.87%	-7.58%	20.93%	-33.48%	26.91%	2.72%	4.41%
Dividend per Share ¹	0.98	1.04	1.1	1.13	1.16	1.187	1.207	1.247
Change	-	6.12%	5.77%	2.73%	2.65%	2.33%	1.68%	3.29%
Book Value Per Share ¹	13.41	13.79	14.09	14.57	14.36	14.88	14.78	14.88
Change	-	2.88%	2.14%	3.41%	-1.42%	3.57%	-0.65%	0.66%
EPS ¹	1.66	1.82	1.45	1.47	0.87	1.504	1.523	1.605
Change	-	9.64%	-20.33%	1.38%	-40.82%	72.82%	1.32%	5.36%
Nbr of stocks (in thousands)	5,42,557	5,46,198	5,46,481	5,48,364	5,49,998	5,50,107	5,50,107	5,50,107
Announcement Date	09/12/21	30/11/22	29/11/23	04/12/24	04/12/25	-	-	-