NASDAQ : SFD
Smithfield Foods, Inc. — Financial statements
Consumer Staples · Packaged Foods · United States
Last price 18.34 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 7.22B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Smithfield Foods, Inc. (SFD) reported revenue of 15.16B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 15.16B | 15.53B | 14.14B | 14.64B | 16.20B | 15.01B |
| Cost of Revenue | 13.24B | 13.44B | 12.29B | 13.56B | 14.55B | 13.42B |
| Gross Profit | 1.92B | 2.09B | 1.85B | 1.08B | 1.65B | 1.58B |
| Selling, General & Admin | 736.00M | 763.00M | 835.00M | 1.05B | 805.00M | 1.05B |
| Other Operating Expenses | -4.00M | -7.00M | -8.00M | -12.00M | -6.00M | -11.00M |
| Operating Expenses | 732.00M | 756.00M | 827.00M | 1.04B | 799.00M | 1.04B |
| Operating Income | 1.19B | 1.33B | 1.02B | 48.00M | 847.00M | 541.00M |
| Interest Expense | -30.00M | -41.00M | -66.00M | -76.00M | -87.00M | -93.00M |
| Earnings From Equity Investments | 18.00M | 12.00M | 8.00M | -46.00M | -6.00M | 28.00M |
| Other Non Operating Income (Expenses) | 7.00M | 1.00M | 3.00M | 2.00M | -11.00M | |
| EBT Excluding Unusual Items | 1.19B | 1.30B | 965.00M | -72.00M | 754.00M | 465.00M |
| Merger & Restructuring Charges | -18.00M | -18.00M | 7.00M | -109.00M | -151.00M | |
| Gain (Loss) on Sale of Investments | 16.00M | |||||
| Gain (Loss) on Sale of Assets | 9.00M | 4.00M | 5.00M | 2.00M | 417.00M | |
| Asset Writedown | -7.00M | |||||
| Legal Settlements | -12.00M | -73.00M | ||||
| Other Unusual Items | -10.00M | 27.00M | 83.00M | -6.00M | ||
| Pretax Income | 1.15B | 1.28B | 1.07B | -174.00M | 1.04B | 485.00M |
| Income Tax Expense | 243.00M | 283.00M | 271.00M | -41.00M | 231.00M | 97.00M |
| Earnings From Continuing Operations | 911.00M | 998.00M | 798.00M | -133.00M | 811.00M | 388.00M |
| Earnings From Discontinued Operations | 172.00M | 155.00M | 70.00M | 85.00M | ||
| Net Income to Company | 911.00M | 998.00M | 970.00M | 22.00M | 881.00M | 473.00M |
| Minority Interest in Earnings | -10.00M | -11.00M | -17.00M | -5.00M | -11.00M | -1.00M |
| Net Income | 901.00M | 987.00M | 953.00M | 17.00M | 870.00M | 472.00M |
| Net Income to Common | 901.00M | 987.00M | 953.00M | 17.00M | 870.00M | 472.00M |
| Shares Outstanding (Basic) | 393.43M | 392.04M | 380.07M | 380.07M | 380.07M | |
| Shares Outstanding (Diluted) | 394.89M | 392.70M | 380.07M | 380.07M | 380.07M | |
| EPS (Basic) | 2.29 | 2.52 | 2.51 | 0.04 | 2.29 | |
| EPS (Diluted) | 2.28 | 2.51 | 2.51 | 0.04 | 2.28 | |
| Free Cash Flow | 898.00M | 704.00M | 744.00M | 633.00M | 178.00M | 573.00M |
| Free Cash Flow Per Share | 2.27 | 1.79 | 1.96 | 1.67 | 0.47 | |
| Dividend Per Share | 1.19 | 1.00 | ||||
| Gross Margin | 12.68% | 13.44% | 13.06% | 7.40% | 10.16% | 10.56% |
| Operating Margin | 7.85% | 8.58% | 7.21% | 0.33% | 5.23% | 3.60% |
| Profit Margin | 5.94% | 6.35% | 6.74% | 0.12% | 5.37% | 3.15% |
| Free Cash Flow Margin | 5.92% | 4.53% | 5.26% | 4.32% | 1.10% | 3.82% |
| EBITDA | 1.52B | 1.66B | 1.36B | 390.00M | 1.20B | 872.00M |
| EBITDA Margin | 10.00% | 10.70% | 9.59% | 2.66% | 7.43% | 5.81% |
| D&A For EBITDA | 326.00M | 330.00M | 336.00M | 342.00M | 357.00M | 331.00M |
| EBIT | 1.19B | 1.33B | 1.02B | 48.00M | 847.00M | 541.00M |
| EBIT Margin | 7.85% | 8.58% | 7.21% | 0.33% | 5.23% | 3.60% |
| Effective Tax Rate | 21.06% | 22.09% | 25.35% | 22.17% | 20.00% | |
| Advertising Expenses | 92.00M | 97.00M | 123.00M | 127.00M | 116.00M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 1.18B | 1.54B | 943.00M | 687.00M | 547.00M | |
| Cash & Short-Term Investments | 1.26B | 1.54B | 943.00M | 687.00M | 547.00M | |
| Accounts Receivable | 1.01B | 1.02B | 558.00M | 577.00M | 756.00M | |
| Other Receivables | 56.00M | 99.00M | 27.00M | |||
| Receivables | 1.01B | 1.08B | 657.00M | 604.00M | 756.00M | |
| Inventory | 2.54B | 2.33B | 2.41B | 2.54B | 2.93B | |
| Prepaid Expenses | 249.00M | 192.00M | 152.00M | 111.00M | 337.00M | |
| Other Current Assets | 50.00M | 28.00M | 38.00M | 983.00M | 969.00M | |
| Total Current Assets | 5.12B | 5.17B | 4.20B | 4.92B | 5.54B | |
| Property, Plant & Equipment | 3.60B | 3.61B | 3.51B | 3.73B | 3.79B | |
| Long-Term Investments | 208.00M | 209.00M | 202.00M | 191.00M | 224.00M | |
| Goodwill | 1.62B | 1.62B | 1.61B | 1.63B | 1.62B | |
| Other Intangible Assets | 1.26B | 1.26B | 1.27B | 1.27B | 1.28B | |
| Other Long-Term Assets | 343.00M | 306.00M | 260.00M | 1.58B | 1.40B | |
| Total Assets | 12.15B | 12.18B | 11.05B | 13.32B | 13.85B | |
| Accounts Payable | 639.00M | 856.00M | 777.00M | 789.00M | 1.01B | |
| Accrued Expenses | 618.00M | 489.00M | 535.00M | 656.00M | 681.00M | |
| Current Portion of Long-Term Debt | 602.00M | 27.00M | 9.00M | |||
| Current Portion of Leases | 74.00M | 74.00M | 59.00M | 63.00M | 72.00M | |
| Current Income Taxes Payable | 30.00M | 9.00M | 8.00M | |||
| Other Current Liabilities | 204.00M | 292.00M | 326.00M | 907.00M | 812.00M | |
| Total Current Liabilities | 2.14B | 1.74B | 1.71B | 2.45B | 2.59B | |
| Long-Term Debt | 1.40B | 1.99B | 2.00B | 2.01B | 2.03B | |
| Long-Term Leases | 312.00M | 336.00M | 286.00M | 325.00M | 359.00M | |
| Pension & Post-Retirement Benefits | 206.00M | 207.00M | 279.00M | 255.00M | 276.00M | |
| Long-Term Deferred Tax Liabilities | 622.00M | 658.00M | 518.00M | 474.00M | 588.00M | |
| Other Long-Term Liabilities | 186.00M | 184.00M | 207.00M | 320.00M | 435.00M | |
| Total Liabilities | 4.87B | 5.11B | 5.00B | 5.83B | 6.28B | |
| Additional Paid-In Capital | 3.34B | 3.34B | 3.10B | 4.15B | 4.19B | |
| Retained Earnings | 3.98B | 3.78B | 3.18B | 3.59B | 3.89B | |
| Comprehensive Income & Other | -304.00M | -313.00M | -452.00M | -499.00M | -708.00M | |
| Total Common Equity | 7.01B | 6.80B | 5.83B | 7.24B | 7.37B | |
| Minority Interest | 272.00M | 264.00M | 225.00M | 246.00M | 197.00M | |
| Shareholders' Equity | 7.29B | 7.07B | 6.06B | 7.49B | 7.57B | |
| Total Liabilities & Equity | 12.15B | 12.18B | 11.05B | 13.32B | 13.85B | |
| Total Debt | 2.39B | 2.40B | 2.34B | 2.42B | 2.47B | |
| Net Cash (Debt) | -1.13B | -857.00M | -1.40B | -1.73B | -1.92B | |
| Net Cash Per Share | -2.85 | -2.18 | -3.69 | -4.56 | -5.06 | |
| Filing Date Shares Outstanding | 393.80M | 393.48M | 393.11M | 380.07M | 380.07M | |
| Total Common Shares Outstanding | 393.80M | 393.11M | 380.07M | 380.07M | 380.07M | |
| Working Capital | 2.98B | 3.42B | 2.50B | 2.47B | 2.95B | |
| Book Value Per Share | 17.81 | 17.30 | 15.35 | 19.05 | ||
| Tangible Book Value | 4.13B | 3.92B | 2.96B | 4.34B | 4.47B | |
| Tangible Book Value Per Share | 10.50 | 9.97 | 7.77 | 11.42 | ||
| Land | 581.00M | 573.00M | 686.00M | 660.00M | ||
| Buildings | 1.63B | 1.55B | 1.56B | 1.44B | ||
| Machinery | 3.50B | 3.36B | 3.28B | 3.08B | ||
| Construction In Progress | 246.00M | 173.00M | 225.00M | 290.00M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 901.00M | 987.00M | 953.00M | 17.00M | 870.00M | 472.00M |
| Depreciation & Amortization | 326.00M | 330.00M | 336.00M | 342.00M | 357.00M | 331.00M |
| Loss (Gain) From Sale of Assets | -22.00M | -22.00M | -37.00M | -85.00M | -413.00M | |
| Asset Writedown & Restructuring Costs | 13.00M | 2.00M | 3.00M | 85.00M | 123.00M | 1.00M |
| Loss (Gain) on Equity Investments | -12.00M | -12.00M | -8.00M | 46.00M | -50.00M | -28.00M |
| Stock-Based Compensation | 9.00M | 9.00M | ||||
| Other Operating Activities | 79.00M | 104.00M | -63.00M | -280.00M | -58.00M | -51.00M |
| Change in Accounts Receivable | -470.00M | -470.00M | -6.00M | 157.00M | -33.00M | -2.00M |
| Change in Inventory | 118.00M | 118.00M | 138.00M | 469.00M | -307.00M | -184.00M |
| Change in Accounts Payable | 65.00M | 65.00M | -19.00M | -215.00M | 121.00M | 188.00M |
| Change in Other Net Operating Assets | 296.00M | -52.00M | -381.00M | 152.00M | -89.00M | 28.00M |
| Operating Cash Flow | 1.30B | 1.06B | 1.14B | 1.03B | 517.00M | 786.00M |
| Capital Expenditures | -405.00M | -355.00M | -393.00M | -401.00M | -339.00M | -213.00M |
| Sale of Property, Plant & Equipment | 14.00M | 14.00M | 99.00M | 219.00M | 8.00M | 6.00M |
| Cash Acquisitions | -1.00M | |||||
| Divestitures | 13.00M | 606.00M | ||||
| Investment in Securities | -88.00M | -12.00M | -13.00M | -27.00M | -1.00M | |
| Other Investing Activities | 67.00M | 44.00M | -162.00M | -126.00M | -81.00M | -122.00M |
| Investing Cash Flow | -412.00M | -309.00M | -469.00M | -322.00M | 193.00M | -330.00M |
| Short-Term Debt Issued | 14.00M | 226.00M | 785.00M | 430.00M | ||
| Long-Term Debt Issued | 493.00M | |||||
| Total Debt Issued | 14.00M | 226.00M | 785.00M | 923.00M | ||
| Short-Term Debt Repaid | -14.00M | -226.00M | -785.00M | -430.00M | ||
| Long-Term Debt Repaid | -5.00M | -34.00M | -13.00M | -16.00M | -723.00M | |
| Total Debt Repaid | -5.00M | -5.00M | -48.00M | -239.00M | -801.00M | -1.15B |
| Net Debt Issued (Repaid) | -5.00M | -5.00M | -34.00M | -13.00M | -16.00M | -230.00M |
| Issuance of Common Stock | 236.00M | |||||
| Common Dividends Paid | -483.00M | -396.00M | -288.00M | -323.00M | -496.00M | -192.00M |
| Other Financing Activities | 2.00M | 1.00M | -142.00M | -197.00M | 35.00M | 85.00M |
| Financing Cash Flow | -486.00M | -164.00M | -464.00M | -533.00M | -477.00M | -337.00M |
| Foreign Exchange Rate Adjustments | 11.00M | -12.00M | 3.00M | 12.00M | -3.00M | |
| Miscellaneous Cash Flow Adjustments | 1.00M | -1.00M | 1.00M | |||
| Net Cash Flow | 406.00M | 597.00M | 192.00M | 181.00M | 245.00M | 117.00M |
| Free Cash Flow | 898.00M | 704.00M | 744.00M | 633.00M | 178.00M | 573.00M |
| Free Cash Flow Margin | 5.92% | 4.53% | 5.26% | 4.32% | 1.10% | 3.82% |
| Free Cash Flow Per Share | 2.27 | 1.79 | 1.96 | 1.67 | 0.47 | |
| Levered Free Cash Flow | 676.00M | 442.88M | 801.25M | 537.50M | ||
| Unlevered Free Cash Flow | 694.75M | 468.50M | 842.50M | 585.00M | ||
| Cash Interest Paid | 80.00M | 80.00M | 79.00M | 81.00M | 84.00M | 90.00M |
| Cash Income Tax Paid | 124.00M | 124.00M | 130.00M | 108.00M | 152.00M | -3.00M |
| Change in Working Capital | 9.00M | -339.00M | -268.00M | 563.00M | -308.00M | 30.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.29B | 8.82B | ||||
| Enterprise Value | 8.42B | 10.70B | ||||
| Last Close Price | 18.51 | 21.62 | ||||
| PE Ratio | 8.12 | 8.94 | ||||
| Forward PE | 12.88 | 9.03 | ||||
| PS Ratio | 0.48 | 0.57 | ||||
| PB Ratio | 1.04 | 1.25 | ||||
| P/TBV Ratio | 1.76 | 2.25 | ||||
| P/FCF Ratio | 8.12 | 12.53 | ||||
| P/OCF Ratio | 5.59 | 8.33 | ||||
| PEG Ratio | 1.16 | |||||
| EV/Sales Ratio | 0.56 | 0.69 | ||||
| EV/EBITDA Ratio | 5.55 | 6.44 | ||||
| EV/EBIT Ratio | 7.07 | 8.03 | ||||
| EV/FCF Ratio | 9.37 | 15.19 | ||||
| Debt / Equity Ratio | 0.33 | 0.34 | 0.39 | 0.32 | 0.33 | |
| Debt / EBITDA Ratio | 1.42 | 1.30 | 1.51 | 4.04 | 1.74 | |
| Debt / FCF Ratio | 2.66 | 3.40 | 3.15 | 3.83 | 13.87 | |
| Net Debt / Equity Ratio | 0.15 | 0.12 | 0.23 | 0.23 | 0.25 | |
| Net Debt / EBITDA Ratio | 0.74 | 0.52 | 1.03 | 4.45 | 1.60 | |
| Net Debt / FCF Ratio | 1.25 | 1.22 | 1.88 | 2.74 | 10.80 | |
| Asset Turnover | 1.28 | 1.34 | 1.16 | 1.08 | ||
| Inventory Turnover | 5.29 | 5.67 | 4.97 | 4.96 | ||
| Quick Ratio | 1.06 | 1.50 | 0.94 | 0.53 | 0.50 | |
| Current Ratio | 2.39 | 2.97 | 2.46 | 2.01 | 2.14 | |
| Return on Equity (ROE) | 13.00% | 15.21% | 11.78% | -1.77% | ||
| Return on Assets (ROA) | 6.28% | 7.17% | 5.23% | 0.22% | ||
| Return on Invested Capital (ROIC) | 11.20% | 13.49% | 9.13% | 0.51% | 6.94% | |
| Return on Capital Employed (ROCE) | 11.90% | 12.80% | 10.90% | 0.40% | 7.50% | |
| Earnings Yield | 12.31% | 11.19% | ||||
| FCF Yield | 12.32% | 7.98% | ||||
| Dividend Yield | 6.75% | 4.46% | ||||
| Payout Ratio | 54.87% | 40.12% | 30.22% | 1,900.00% | 57.01% | 40.68% |
| Buyback Yield / Dilution | -1.45% | -3.32% | ||||
| Total Shareholder Return | 5.30% | 1.13% |