NYSE : LW
Lamb Weston Holdings, Inc. — Financial statements
Consumer Staples · Packaged Foods · United States
Last price 53.29 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 7.34B
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Financial statements
Lamb Weston Holdings, Inc. (LW) reported revenue of 6.62B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 6.62B | 6.61B | 6.45B | 6.47B | 5.35B | 4.10B |
| Cost of Revenue | 5.29B | 5.25B | 4.98B | 4.70B | 3.92B | 3.27B |
| Gross Profit | 1.34B | 1.37B | 1.47B | 1.77B | 1.43B | 832.00M |
| Selling, General & Admin | 633.30M | 622.00M | 576.10M | 634.30M | 543.40M | 355.90M |
| Research & Development | 18.90M | 18.90M | 22.00M | 26.40M | 17.20M | 16.20M |
| Amortization of Goodwill & Intangibles | 4.80M | |||||
| Operating Expenses | 665.90M | 654.60M | 613.10M | 672.80M | 569.70M | 384.30M |
| Operating Income | 671.80M | 712.70M | 860.80M | 1.09B | 862.40M | 447.70M |
| Interest Expense | -179.20M | -180.50M | -180.00M | -135.80M | -109.20M | -107.70M |
| Earnings From Equity Investments | 14.30M | 7.50M | 15.20M | 26.00M | 460.60M | -10.70M |
| Currency Exchange Gain (Loss) | -8.90M | 8.20M | -15.20M | -28.60M | 19.70M | -3.30M |
| EBT Excluding Unusual Items | 494.90M | 547.90M | 680.80M | 955.50M | 1.23B | 326.00M |
| Merger & Restructuring Charges | -113.90M | -111.60M | -175.30M | |||
| Other Unusual Items | 1.70M | -18.20M | -5.20M | -53.30M | ||
| Pretax Income | 351.90M | 418.10M | 500.30M | 955.50M | 1.23B | 272.70M |
| Income Tax Expense | 97.10M | 128.10M | 143.10M | 230.00M | 224.60M | 71.80M |
| Earnings From Continuing Operations | 254.80M | 290.00M | 357.20M | 725.50M | 1.01B | 200.90M |
| Net Income | 254.80M | 290.00M | 357.20M | 725.50M | 1.01B | 200.90M |
| Net Income to Common | 254.80M | 290.00M | 357.20M | 725.50M | 1.01B | 200.90M |
| Shares Outstanding (Basic) | 138.43M | 138.90M | 142.20M | 144.90M | 144.50M | 145.50M |
| Shares Outstanding (Diluted) | 138.68M | 139.10M | 142.70M | 145.60M | 145.20M | 145.90M |
| EPS (Basic) | 1.84 | 2.09 | 2.51 | 5.01 | 6.98 | 1.38 |
| EPS (Diluted) | 1.83 | 2.08 | 2.50 | 4.98 | 6.95 | 1.38 |
| Free Cash Flow | 411.90M | 540.20M | 230.10M | -131.30M | 107.70M | 128.50M |
| Free Cash Flow Per Share | 2.97 | 3.88 | 1.61 | -0.90 | 0.74 | 0.88 |
| Dividend Per Share | 1.51 | 1.50 | 1.46 | 1.28 | 1.05 | 0.96 |
| Gross Margin | 20.20% | 20.68% | 22.85% | 27.32% | 26.77% | 20.30% |
| Operating Margin | 10.14% | 10.78% | 13.34% | 16.91% | 16.12% | 10.92% |
| Profit Margin | 3.85% | 4.39% | 5.54% | 11.22% | 18.86% | 4.90% |
| Free Cash Flow Margin | 6.22% | 8.17% | 3.57% | -2.03% | 2.01% | 3.14% |
| EBITDA | 1.07B | 1.10B | 1.23B | 1.40B | 1.08B | 635.00M |
| EBITDA Margin | 16.14% | 16.70% | 19.08% | 21.59% | 20.21% | 15.49% |
| D&A For EBITDA | 397.30M | 391.60M | 370.00M | 302.30M | 218.70M | 187.30M |
| EBIT | 671.80M | 712.70M | 860.80M | 1.09B | 862.40M | 447.70M |
| EBIT Margin | 10.14% | 10.78% | 13.34% | 16.91% | 16.12% | 10.92% |
| Effective Tax Rate | 27.59% | 30.64% | 28.60% | 24.07% | 18.21% | 26.33% |
| Advertising Expenses | 36.60M | 35.80M | 49.70M | 34.40M | 18.90M |
Balance sheet
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 166.30M | 68.20M | 70.70M | 71.40M | 304.80M | 525.00M |
| Cash & Short-Term Investments | 166.30M | 68.20M | 70.70M | 71.40M | 304.80M | 525.00M |
| Accounts Receivable | 787.70M | 779.10M | 781.60M | 743.60M | 724.20M | 447.30M |
| Receivables | 787.70M | 779.10M | 781.60M | 743.60M | 724.20M | 447.30M |
| Inventory | 965.30M | 1.00B | 1.07B | 1.18B | 954.50M | 602.50M |
| Prepaid Expenses | 104.10M | 139.00M | 100.00M | 94.70M | 140.70M | 77.80M |
| Other Current Assets | 26.40M | 25.30M | 10.20M | 1.40M | 3.00M | 7.00M |
| Total Current Assets | 2.05B | 2.01B | 2.03B | 2.09B | 2.13B | 1.66B |
| Property, Plant & Equipment | 3.72B | 3.80B | 3.80B | 3.72B | 2.95B | 1.70B |
| Long-Term Investments | 54.40M | 51.10M | 47.50M | 257.40M | ||
| Goodwill | 1.12B | 1.13B | 1.09B | 1.06B | 1.04B | 318.00M |
| Other Intangible Assets | 275.00M | 284.10M | 322.70M | 332.80M | 285.60M | 103.30M |
| Long-Term Deferred Tax Assets | 2.40M | 1.10M | 8.20M | 3.30M | 2.70M | |
| Long-Term Deferred Charges | 2.90M | 3.90M | 4.90M | 2.50M | 3.30M | |
| Other Long-Term Assets | 94.40M | 93.50M | 93.40M | 155.40M | 106.40M | 97.30M |
| Total Assets | 7.32B | 7.38B | 7.39B | 7.37B | 6.52B | 4.14B |
| Accounts Payable | 631.10M | 613.10M | 616.40M | 833.80M | 636.60M | 402.60M |
| Accrued Expenses | 313.90M | 371.70M | 291.10M | 277.20M | 365.40M | 194.50M |
| Short-Term Debt | 279.30M | 249.40M | 370.80M | 326.30M | 158.50M | |
| Current Portion of Long-Term Debt | 70.80M | 69.90M | 76.50M | 54.90M | 53.80M | 31.30M |
| Current Portion of Leases | 28.10M | 28.40M | 25.20M | 30.80M | 30.00M | 23.30M |
| Current Income Taxes Payable | 27.60M | 26.70M | 37.30M | 24.80M | 21.20M | 12.10M |
| Other Current Liabilities | 58.20M | 56.30M | 58.70M | 76.30M | 94.70M | 35.30M |
| Total Current Liabilities | 1.41B | 1.42B | 1.48B | 1.62B | 1.36B | 699.10M |
| Long-Term Debt | 3.57B | 3.59B | 3.68B | 3.44B | 3.24B | 2.69B |
| Long-Term Leases | 3.80M | 97.50M | 102.80M | 119.60M | 133.70M | 110.80M |
| Pension & Post-Retirement Benefits | 27.80M | 13.60M | 16.50M | |||
| Long-Term Deferred Tax Liabilities | 284.90M | 297.50M | 253.50M | 256.20M | 252.10M | 172.50M |
| Other Long-Term Liabilities | 216.40M | 152.80M | 143.70M | 142.80M | 106.70M | 90.70M |
| Total Liabilities | 5.52B | 5.56B | 5.65B | 5.58B | 5.11B | 3.78B |
| Common Stock | 152.60M | 152.10M | 151.40M | 150.70M | 150.30M | 148.00M |
| Retained Earnings | 2.90B | 2.93B | 2.85B | 2.70B | 2.16B | 1.31B |
| Treasury Stock | -969.50M | -961.80M | -838.00M | -540.90M | -314.30M | -264.10M |
| Comprehensive Income & Other | -281.20M | -295.10M | -424.60M | -521.80M | -585.40M | -828.90M |
| Total Common Equity | 1.81B | 1.82B | 1.74B | 1.79B | 1.41B | 360.50M |
| Shareholders' Equity | 1.81B | 1.82B | 1.74B | 1.79B | 1.41B | 360.50M |
| Total Liabilities & Equity | 7.32B | 7.38B | 7.39B | 7.37B | 6.52B | 4.14B |
| Total Debt | 3.96B | 4.04B | 4.25B | 3.97B | 3.62B | 2.86B |
| Net Cash (Debt) | -3.79B | -3.97B | -4.18B | -3.90B | -3.31B | -2.33B |
| Net Cash Per Share | -27.33 | -28.53 | -29.32 | -26.76 | -22.82 | -15.97 |
| Filing Date Shares Outstanding | 137.78M | 137.48M | 139.30M | 143.67M | 145.67M | 143.75M |
| Total Common Shares Outstanding | 137.76M | 137.46M | 139.24M | 143.67M | 145.67M | 144.07M |
| Working Capital | 640.80M | 598.90M | 556.70M | 465.90M | 767.00M | 960.50M |
| Book Value Per Share | 13.11 | 13.28 | 12.48 | 12.44 | 9.69 | 2.50 |
| Tangible Book Value | 406.80M | 410.70M | 324.80M | 395.10M | 85.00M | -60.80M |
| Tangible Book Value Per Share | 2.95 | 2.99 | 2.33 | 2.75 | 0.58 | -0.42 |
| Land | 222.40M | 221.20M | 191.60M | 186.20M | 163.20M | 114.10M |
| Buildings | 5.75B | 5.69B | 5.14B | 4.71B | 3.58B | 2.92B |
| Machinery | 144.20M | 144.00M | 161.90M | 127.70M | 112.00M | 92.10M |
| Construction In Progress | 282.00M | 327.30M | 551.70M | 688.20M | 832.00M | 156.10M |
Cash flow statement
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 254.80M | 290.00M | 357.20M | 725.50M | 1.01B | 200.90M |
| Depreciation & Amortization | 397.30M | 391.60M | 370.00M | 302.30M | 218.70M | 187.30M |
| Other Amortization | 5.00M | 5.10M | 4.80M | 4.50M | 4.10M | 4.80M |
| Loss (Gain) on Equity Investments | -5.80M | -2.50M | 11.90M | -15.50M | -461.50M | 29.90M |
| Stock-Based Compensation | 50.70M | 46.20M | 39.50M | 46.80M | 38.50M | 21.30M |
| Other Operating Activities | 76.80M | 79.30M | 6.80M | 5.60M | 2.60M | 60.30M |
| Change in Accounts Receivable | -2.50M | 20.30M | -22.20M | -15.10M | -53.60M | -76.30M |
| Change in Inventory | -57.00M | 77.80M | 112.60M | -203.30M | -125.10M | -63.00M |
| Change in Accounts Payable | 105.40M | -1.50M | 2.00M | 36.50M | 83.10M | 16.50M |
| Change in Income Taxes | -32.60M | -41.90M | -10.30M | 20.10M | -12.30M | 11.60M |
| Change in Other Net Operating Assets | 33.60M | 78.50M | -4.00M | -109.20M | 58.30M | 25.30M |
| Operating Cash Flow | 825.70M | 942.90M | 868.30M | 798.20M | 761.70M | 418.60M |
| Capital Expenditures | -413.80M | -402.70M | -638.20M | -929.50M | -654.00M | -290.10M |
| Sale of Property, Plant & Equipment | 26.00M | 26.00M | 2.00M | |||
| Cash Acquisitions | -10.50M | |||||
| Investment in Securities | -610.40M | |||||
| Other Investing Activities | -7.00M | -3.50M | -11.80M | -44.10M | -76.50M | -20.40M |
| Investing Cash Flow | -394.80M | -380.20M | -648.00M | -984.10M | -1.34B | -310.50M |
| Short-Term Debt Issued | 1.17B | 1.74B | 1.07B | 56.50M | ||
| Long-Term Debt Issued | 103.50M | 525.30M | 592.00M | 529.50M | 1.68B | |
| Total Debt Issued | 1.04B | 1.27B | 2.26B | 1.67B | 586.00M | 1.68B |
| Short-Term Debt Repaid | -1.30B | -1.70B | -910.00M | -15.10M | ||
| Long-Term Debt Repaid | -217.10M | -276.60M | -401.10M | -32.60M | -1.70B | |
| Total Debt Repaid | -1.09B | -1.51B | -1.97B | -1.31B | -47.70M | -1.70B |
| Net Debt Issued (Repaid) | -49.00M | -240.70M | 291.50M | 355.80M | 538.30M | -22.00M |
| Repurchase of Common Stock | -111.80M | -122.80M | -294.40M | -225.30M | -51.60M | -158.40M |
| Common Dividends Paid | -208.00M | -207.50M | -206.90M | -174.00M | -146.10M | -138.40M |
| Other Financing Activities | 1.90M | 1.90M | -15.20M | -4.50M | 200.00K | -44.60M |
| Financing Cash Flow | -366.90M | -569.10M | -225.00M | -48.00M | 340.80M | -363.40M |
| Foreign Exchange Rate Adjustments | 3.70M | 3.90M | 4.00M | 500.00K | 18.20M | -3.20M |
| Net Cash Flow | 67.70M | -2.50M | -700.00K | -233.40M | -220.20M | -258.50M |
| Free Cash Flow | 411.90M | 540.20M | 230.10M | -131.30M | 107.70M | 128.50M |
| Free Cash Flow Margin | 6.22% | 8.17% | 3.57% | -2.03% | 2.01% | 3.14% |
| Free Cash Flow Per Share | 2.97 | 3.88 | 1.61 | -0.90 | 0.74 | 0.88 |
| Levered Free Cash Flow | 331.77M | 452.93M | 49.60M | -79.09M | -136.35M | 86.80M |
| Unlevered Free Cash Flow | 438.77M | 560.64M | 157.30M | 1.29M | -72.20M | 149.31M |
| Cash Interest Paid | 197.40M | 202.80M | 210.70M | 191.30M | 151.80M | 80.60M |
| Cash Income Tax Paid | 112.20M | 118.80M | 149.70M | 188.80M | 226.50M | 44.30M |
| Change in Working Capital | 46.90M | 133.20M | 78.10M | -271.00M | -49.60M | -85.90M |
Ratios
Fiscal year June - May; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 7.80B | 5.96B | 7.13B | 12.88B | 15.95B | 9.82B |
| Enterprise Value | 11.59B | 9.93B | 11.34B | 16.70B | 18.52B | 12.14B |
| Last Close Price | 54.08 | 42.86 | 48.72 | 83.94 | 101.58 | 62.40 |
| PE Ratio | 30.89 | 20.56 | 19.97 | 17.75 | 15.81 | 48.88 |
| Forward PE | 17.10 | 14.90 | 14.83 | 14.58 | 22.47 | 26.44 |
| PS Ratio | 1.16 | 0.90 | 1.11 | 1.99 | 2.98 | 2.40 |
| PB Ratio | 4.12 | 3.27 | 4.11 | 7.21 | 11.30 | 27.24 |
| P/TBV Ratio | 18.85 | 14.52 | 21.97 | 32.60 | 187.62 | |
| P/FCF Ratio | 18.61 | 11.04 | 31.01 | 148.07 | 76.43 | |
| P/OCF Ratio | 9.29 | 6.32 | 8.22 | 16.14 | 20.94 | 23.46 |
| PEG Ratio | 1.91 | 5.31 | 9.07 | 1.16 | 0.53 | 1.89 |
| EV/Sales Ratio | 1.73 | 1.50 | 1.76 | 2.58 | 3.46 | 2.96 |
| EV/EBITDA Ratio | 10.72 | 8.99 | 9.21 | 11.96 | 17.13 | 19.13 |
| EV/EBIT Ratio | 17.05 | 13.93 | 13.17 | 15.27 | 21.47 | 27.13 |
| EV/FCF Ratio | 27.82 | 18.37 | 49.27 | 171.94 | 94.51 | |
| Debt / Equity Ratio | 2.19 | 2.21 | 2.45 | 2.22 | 2.56 | 7.92 |
| Debt / EBITDA Ratio | 3.67 | 3.62 | 3.43 | 2.82 | 3.22 | 4.25 |
| Debt / FCF Ratio | 9.61 | 7.47 | 18.49 | 33.59 | 22.22 | |
| Net Debt / Equity Ratio | 2.10 | 2.17 | 2.41 | 2.18 | 2.35 | 6.46 |
| Net Debt / EBITDA Ratio | 3.54 | 3.59 | 3.40 | 2.79 | 3.06 | 3.67 |
| Net Debt / FCF Ratio | 9.20 | 7.35 | 18.18 | -29.68 | 30.77 | 18.13 |
| Asset Turnover | 0.91 | 0.90 | 0.87 | 0.93 | 1.00 | 0.98 |
| Inventory Turnover | 5.65 | 5.06 | 4.43 | 4.41 | 5.03 | 5.86 |
| Quick Ratio | 0.68 | 0.60 | 0.58 | 0.50 | 0.76 | 1.39 |
| Current Ratio | 1.46 | 1.42 | 1.38 | 1.29 | 1.56 | 2.37 |
| Return on Equity (ROE) | 14.17% | 16.28% | 20.26% | 45.36% | 113.88% | 47.77% |
| Return on Assets (ROA) | 5.77% | 6.03% | 7.29% | 9.85% | 10.11% | 6.70% |
| Return on Invested Capital (ROIC) | 8.54% | 8.44% | 10.59% | 15.96% | 19.02% | 12.51% |
| Return on Capital Employed (ROCE) | 11.40% | 11.90% | 14.50% | 19.00% | 16.70% | 13.00% |
| Earnings Yield | 3.24% | 4.86% | 5.01% | 5.63% | 6.33% | 2.05% |
| FCF Yield | 5.37% | 9.06% | 3.23% | -1.02% | 0.68% | 1.31% |
| Dividend Yield | 2.69% | 3.46% | 2.85% | 1.43% | 0.96% | 1.41% |
| Payout Ratio | 82.98% | 71.55% | 57.92% | 23.98% | 14.48% | 68.89% |
| Buyback Yield / Dilution | 2.07% | 2.52% | 1.99% | -0.27% | 0.48% | 0.82% |
| Total Shareholder Return | 4.79% | 5.98% | 4.84% | 1.15% | 1.44% | 2.22% |