Cal-Maine Foods, Inc., together with its subsidiaries, engages in the production, grading, packaging, marketing, and distribution of shell eggs, egg products, and prepared foods. The company offers specialty shell eggs, including cage-free, organic, brown, free-range, and pasture-raised and nutritionally enhanced eggs, as well as conventional eggs under the Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, Sunups, Sunny Meadow, and 4-Grain brand names. It also provides ready-to-eat products, such as hard-cooked eggs, egg wraps, protein pancakes, crepes and wrap-ups; and sells feed, miscellaneous byproducts, and resale products. The company sells its products to various customers, including national and regional grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, northeastern, and mid-Atlantic regions of the United States, as well as Puerto Rico. Cal-Maine Foods, Inc. was founded in 1957 and is headquartered in Ridgeland, Mississippi.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $4.3B | $1.7B | $1.2B | $1.1B | 47.6% | 83.2% | 339.0% |
| 2024 | $2.3B | $441M | $278M | $304M | 15.4% | -26.1% | -63.3% |
| 2023 | $3.1B | $1.1B | $758M | $726M | 47.1% | 77.0% | 471.4% |
| 2022 | $1.8B | $235M | $133M | $54M | 12.0% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 1,777.16 | 3,146.22 | 2,326.44 | 4,261.88 |
| Operating Revenue | 1,777.16 | 3,146.22 | 2,326.44 | 4,261.88 |
| Cost Of Revenue | 1,440.10 | 1,949.76 | 1,784.87 | 2,411 |
| Gross Profit | 337.06 | 1,196.46 | 541.57 | 1,850.88 |
| Operating Expense | 198.63 | 232.21 | 232.98 | 314.45 |
| Selling General And Administration | 198.63 | 232.21 | 232.98 | 314.45 |
| Total Expenses | 1,638.73 | 2,181.97 | 2,017.85 | 2,725.45 |
| Operating Income | 138.43 | 964.25 | 308.59 | 1,536.44 |
| Total Operating Income As Reported | 143.54 | 967.73 | 312.45 | 1,536.54 |
| EBITDA | 234.81 | 1,071.37 | 440.76 | 1,697.78 |
| Normalized EBITDA | 219.57 | 1,057.65 | 425.57 | 1,686.48 |
| EBIT | 166.42 | 999.13 | 360.52 | 1,603.75 |
| Interest Income | 0.99 | 18.55 | 32.28 | 48.67 |
| Interest Expense | 0.40 | 0.58 | 0.55 | 0.61 |
| Net Interest Income | 0.58 | 17.97 | 31.73 | 48.06 |
| Other Non Operating Income Expenses | 9.82 | 1.87 | 3.04 | 1.13 |
| Other Income Expense | 27 | 16.33 | 19.65 | 18.65 |
| Interest Income Non Operating | 0.99 | 18.55 | 32.28 | 48.67 |
| Interest Expense Non Operating | 0.40 | 0.58 | 0.55 | 0.61 |
| Net Non Operating Interest Income Expense | 0.58 | 17.97 | 31.73 | 48.06 |
| Pretax Income | 166.02 | 998.55 | 359.97 | 1,603.14 |
| Tax Provision | 33.57 | 241.82 | 83.69 | 384.91 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 3.08 | 3.32 | 3.52 | 2.71 |
| Net Income Continuous Operations | 132.44 | 756.73 | 276.28 | 1,218.23 |
| Net Income From Continuing And Discontinued Operation | 132.65 | 758.02 | 277.89 | 1,220.05 |
| Net Income From Continuing Operation Net Minority Interest | 132.65 | 758.02 | 277.89 | 1,220.05 |
| Net Income | 132.65 | 758.02 | 277.89 | 1,220.05 |
| Net Income Common Stockholders | 132.65 | 758.02 | 277.89 | 1,220.05 |
| Net Income Including Noncontrolling Interests | 132.44 | 756.73 | 276.28 | 1,218.23 |
| Normalized Income | 120.49 | 747.63 | 266.22 | 1,211.46 |
| Diluted NI Availto Com Stockholders | 132.65 | 758.02 | 277.89 | 1,220.05 |
| Basic Average Shares | 48.58 | 48.65 | 48.72 | 48.72 |
| Diluted Average Shares | 48.73 | 48.83 | 48.87 | 48.89 |
| Reconciled Depreciation | 68.40 | 72.23 | 80.24 | 94.02 |
| Reconciled Cost Of Revenue | 1,440.10 | 1,949.76 | 1,784.87 | 2,411 |
| Total Unusual Items | 15.24 | 13.72 | 15.19 | 11.30 |
| Total Unusual Items Excluding Goodwill | 15.24 | 13.72 | 15.19 | 11.30 |
| Minority Interests | 0.21 | 1.29 | 1.61 | 1.82 |
| Special Income Charges | 5.11 | 3.48 | 3.86 | 0.10 |
| Other Special Charges | -5.49 | -3.34 | -3.88 | 0.16 |
| Gain On Sale Of Security | 10.13 | 10.24 | 11.33 | 11.20 |
| General And Administrative Expense | 135.95 | 154.66 | 180.69 | 260.59 |
| Other Gand A | 87.94 | 92.62 | 180.69 | 260.59 |
| Salaries And Wages | 48.02 | 62.04 | - | - |
| Gain On Sale Of Ppe | -0.38 | 0.13 | -0.03 | 0.26 |
| Selling And Marketing Expense | 62.68 | 77.55 | 52.28 | 53.86 |
| Earnings From Equity Interest | 1.94 | 0.75 | 1.42 | 6.22 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cal-Maine Foods, Inc.this co. | CALM | $3.5B | 2.89β discount | 1.38 | 47.6% | 1.26 |
| Stride, Inc. | LRN | $4.3B | 15.06 | 2.93 | 19.5% | 8.07 |
| Covista Inc. | CVSA | $4.2B | 17.86 | 2.95 | 16.5% | 11.26 |
| The Vita Coco Company, Inc. | COCO | $4.2B | 59.24 | 12.74 | 21.5% | 48.36 |
| National Beverage Corp. | FIZZ | $3.3B |
| - |
| - |
| - |
| - |
| - |
| 17.41 |
| 7.33 |
| 42.1% |
| 12.21 |
| United Natural Foods, Inc. | UNFI | $3.2B | -27.35 | 2.08 | -7.6% | 21.68 |
| The Chefs' Warehouse, Inc. | CHEF | $3.2B | 43.70 | 5.23 | 12.0% | 17.99 |
| Tootsie Roll Industries, Inc. | TR | $2.9B | 28.60 | 3.04 | 10.6% | 17.22 |
| Interparfums, Inc. | IPAR | $2.8B | 16.90 | 3.23 | 19.1% | 9.53 |
| Peer Median | - | 17.64 | 3.14 | 17.8% | 14.72 | |