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
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
FCF
Total debt
Cash
2025
$12.1B
$478M
15.6%
5.9%
$534M
$2.9B
$671M
2024
$11.9B
$805M
17.0%
9.0%
$1.0B
$2.9B
$742M
2023
$12.1B
$794M
16.5%
8.9%
$778M
$3.3B
$737M
2022
$12.5B
$1000M
17.4%
10.5%
$856M
$3.3B
$982M
2021
$11.4B
$909M
16.9%
9.9%
$770M
$3.3B
$614M
2020
$9.6B
$908M
19.0%
11.5%
$761M
$1.3B
$1.7B
2019
$9.5B
$979M
19.8%
12.6%
$629M
$250M
$673M
2018
$9.5B
$1.0B
20.7%
12.4%
$852M
$625M
$459M
2017
$9.2B
$847M
21.8%
13.9%
$813M
$250M
$444M
2016
$9.5B
$890M
22.7%
13.9%
$784M
$250M
$415M
2015
—
$686M
—
—
$848M
$435M
$347M
2014
—
$603M
—
—
—
$250M
$334M
2013
—
$526M
—
—
—
$250M
$434M
2012
—
$500M
—
—
—
$250M
$682M
2011
—
$474M
—
—
—
$250M
$463M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
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
FCF
Total debt
Cash
Apr '26
$3.0B
$157M
17.4%
7.3%
$97M
$2.9B
$827M
Jan '26
$3.0B
$182M
15.5%
8.0%
$280M
$2.9B
$868M
Oct '25
$3.2B
-$56M
14.0%
0.1%
$231M
$2.9B
$671M
Jul '25
$3.0B
$184M
16.1%
7.9%
$85M
$2.9B
$599M
Apr '25
$2.9B
$180M
16.7%
8.6%
-$19M
$2.9B
$670M
Jan '25
$3.0B
$171M
15.9%
7.6%
$237M
$2.9B
$840M
Oct '24
$3.1B
$220M
16.6%
9.4%
$325M
$2.9B
$742M
Jul '24
$2.9B
$177M
16.8%
8.2%
$153M
$2.9B
$537M
Apr '24
$2.9B
$189M
17.4%
8.7%
$176M
$3.8B
$1.5B
Jan '24
$3.0B
$219M
17.0%
9.5%
$357M
$3.3B
$963M
Oct '23
$3.2B
$196M
16.1%
8.4%
$217M
$3.3B
$737M
Jul '23
$3.0B
$163M
16.8%
7.3%
$239M
$3.3B
$669M
Apr '23
$3.0B
$217M
16.5%
9.9%
$155M
$3.3B
$580M
Jan '23
$3.0B
$218M
16.7%
9.7%
$167M
$3.3B
$600M
Oct '22
$3.3B
$280M
17.3%
11.2%
$282M
$3.3B
$982M
Jul '22
$3.0B
$219M
16.7%
9.6%
$125M
$3.3B
$850M
May '22
$3.1B
$262M
17.9%
10.8%
$115M
$3.3B
$862M
Jan '22
$3.0B
$240M
17.7%
10.5%
$334M
$3.3B
$824M
Oct '21
$3.5B
$282M
16.7%
10.4%
$471M
$3.3B
$614M
Jul '21
$2.9B
$177M
14.8%
7.2%
$23M
$3.3B
$291M
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 30.0× (Jun '26).
The price-to-sales ratio has fallen from 1.8× (Mar '23) to 1.2× (Jun '26).
The dividend yield has risen from 2.5% (Mar '23) to 4.4% (Jun '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?
As of Jun '26, Hormel Foods traded at a price-to-earnings ratio of about 30.0× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S and dividend yield have moved with the share price. 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), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.