15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has grown 4.7% per year over the past 5 years.
Net income has grown slower than revenue (-12.0% vs 4.7% per year).
Operating margin has contracted, at 5.9% in the latest year.
Free cash flow has declined 6.8% per year over the past 5 years.
Financial health
Total debt ($2.9B) exceeds cash ($671M); net debt is $2.2B.
Total debt has grown faster than revenue (17.0% vs 4.7% per year).
Operating income covered interest expense 9.2× in the latest year.
Total debt is 2.9× EBITDA.
Shareholder returns
Dividends have been paid for 15 consecutive years, consuming 132.4% of earnings and 118.5% of free cash flow.
The dividend has grown 5.4% per year over the past 5 years.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$12.1B
$478M
15.6%
5.9%
6.1%
3.6%
$534M
$2.9B
$671M
2024
$11.9B
$805M
17.0%
9.0%
10.1%
6.0%
$1.0B
$2.9B
$742M
2023
$12.1B
$794M
16.5%
8.9%
10.3%
5.9%
$778M
$3.3B
$737M
2022
$12.5B
$1000M
17.4%
10.5%
13.3%
7.5%
$856M
$3.3B
$982M
2021
$11.4B
$909M
16.9%
9.9%
13.0%
7.2%
$770M
$3.3B
$614M
2020
$9.6B
$908M
19.0%
11.5%
14.1%
9.2%
$761M
$1.3B
$1.7B
2019
$9.5B
$979M
19.8%
12.6%
16.5%
12.1%
$629M
$250M
$673M
2018
$9.5B
$1.0B
20.7%
12.4%
18.1%
12.4%
$852M
$625M
$459M
2017
$9.2B
$847M
21.8%
13.9%
17.2%
12.1%
$813M
$250M
$444M
2016
$9.5B
$890M
22.7%
13.9%
20.0%
12.8%
$784M
$250M
$415M
2015
—
$686M
—
—
17.2%
11.2%
$848M
$435M
$347M
2014
—
$603M
—
—
16.7%
11.0%
—
$250M
$334M
2013
—
$526M
—
—
15.9%
10.7%
—
$250M
$434M
2012
—
$500M
—
—
17.7%
11.0%
—
$250M
$682M
2011
—
$474M
—
—
17.8%
11.2%
—
$250M
$463M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jul '26
$3.0B
$60M
15.9%
3.7%
0.8%
0.4%
$172M
$2.9B
$840M
Apr '26
$3.0B
$157M
17.4%
7.3%
2.0%
1.2%
$97M
$2.9B
$827M
Jan '26
$3.0B
$182M
15.5%
8.0%
2.3%
1.4%
$280M
$2.9B
$868M
Oct '25
$3.2B
-$56M
14.0%
0.1%
-0.7%
-0.4%
$231M
$2.9B
$671M
Jul '25
$3.0B
$184M
16.1%
7.9%
2.3%
1.4%
$85M
$2.9B
$599M
Apr '25
$2.9B
$180M
16.7%
8.6%
2.2%
1.3%
-$19M
$2.9B
$670M
Jan '25
$3.0B
$171M
15.9%
7.6%
2.1%
1.3%
$237M
$2.9B
$840M
Oct '24
$3.1B
$220M
16.6%
9.4%
2.8%
1.6%
$325M
$2.9B
$742M
Jul '24
$2.9B
$177M
16.8%
8.2%
2.2%
1.3%
$153M
$2.9B
$537M
Apr '24
$2.9B
$189M
17.4%
8.7%
2.4%
1.3%
$176M
$3.8B
$1.5B
Jan '24
$3.0B
$219M
17.0%
9.5%
2.8%
1.6%
$357M
$3.3B
$963M
Oct '23
$3.2B
$196M
16.1%
8.4%
2.5%
1.5%
$217M
$3.3B
$737M
Jul '23
$3.0B
$163M
16.8%
7.3%
2.1%
1.2%
$239M
$3.3B
$669M
Apr '23
$3.0B
$217M
16.5%
9.9%
2.8%
1.6%
$155M
$3.3B
$580M
Jan '23
$3.0B
$218M
16.7%
9.7%
2.9%
1.6%
$167M
$3.3B
$600M
Oct '22
$3.3B
$280M
17.3%
11.2%
3.7%
2.1%
$282M
$3.3B
$982M
Jul '22
$3.0B
$219M
16.7%
9.6%
3.0%
1.7%
$125M
$3.3B
$850M
May '22
$3.1B
$262M
17.9%
10.8%
3.6%
2.0%
$115M
$3.3B
$862M
Jan '22
$3.0B
$240M
17.7%
10.5%
3.4%
1.9%
$334M
$3.3B
$824M
Oct '21
$3.5B
$282M
16.7%
10.4%
4.0%
2.2%
$471M
$3.3B
$614M
Valuation over time
How the market has priced HRL against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 21.9× (Mar '23) to 24.7× (Nov '26).
The price-to-sales ratio has fallen from 1.8× (Mar '23) to 1.0× (Nov '26).
The dividend yield has risen from 2.5% (Mar '23) to 5.4% (Nov '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Dividend yield (%)
Dividend yield %
Frequently asked questions
Is HRL growing its revenue and profit?
Over the past 5 years, Hormel Foods's revenue has grown 4.7% per year, and net income declined 12.0% per year. These are computed facts, not advice.
How much debt does HRL have?
As of FY2025, Hormel Foods reported $2.9B of total debt against $671M of cash; operating income covered interest expense 9.2×.
What is HRL's profit margin?
In FY2025, gross margin was 15.6%, operating margin 5.9%, and net margin 4.0%.
What is HRL's P/E ratio?
Hormel Foods's P/E (TTM) is 34.49 as of the 2026-11-02 close — market cap ÷ net income over the trailing twelve months where four consecutive quarters are reported, otherwise the latest fiscal year, the same figure as on the HRL stock page. The valuation chart above sets each month-end's price against the latest annual net income instead, so its latest point (about 24.7× as of Nov '26) can differ. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), split-adjusted; price return — dividends not reinvested ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.