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Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels. The Refrigerated & Frozen segment provides temperature-controlled food products through various retail channels. The International segment offers food products in various temperature states through retail and foodservice channels outside of the United States. The Foodservice segment offers branded and customized food products, including meals, entrees, sauces, and various custom-manufactured culinary products packaged for restaurants and other foodservice establishments. The company sells its products under the Birds Eye, Marie Callender's, Duncan Hines, Healthy Choice, Slim Jim, Reddi-wip, Angie's, BOOMCHICKAPOP brands. Conagra Brands, Inc. was incorporated in 1919 and is headquartered in Chicago, Illinois.
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 | $11.6B | $2.0B | $1.2B | $1.3B | 12.9% | -3.6% | 231.9% |
| 2024 | $12.1B | $1.4B | $347M | $1.6B | 4.1% | -1.8% | -49.2% |
| 2023 | $12.3B | $1.7B | $684M | $633M | 7.8% | 6.4% | -23.0% |
| 2022 | $11.5B | $1.9B | $888M | $713M | 10.1% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 11,535.90 | 12,277 | 12,050.90 | 11,612.80 |
| Operating Revenue | 11,535.90 | 12,277 | 12,050.90 | 11,612.80 |
| Cost Of Revenue | 8,697.10 | 9,012.20 | 8,717.50 | 8,609.30 |
| Gross Profit | 2,838.80 | 3,264.80 | 3,333.40 | 3,003.50 |
| Operating Expense | 1,492.80 | 1,431.90 | 1,487.50 | 1,537.30 |
| Selling General And Administration | 1,492.80 | 1,431.90 | 1,487.50 | 1,537.30 |
| Total Expenses | 10,189.90 | 10,444.10 | 10,205 | 10,146.60 |
| Operating Income | 1,346 | 1,832.90 | 1,845.90 | 1,466.20 |
| Total Operating Income As Reported | - | 1,075.30 | 852.80 | 1,364.60 |
| EBITDA | 1,936.10 | 1,685.30 | 1,447.30 | 1,965.60 |
| Normalized EBITDA | 1,936.10 | 2,442.90 | 2,440.40 | 2,067.20 |
| EBIT | 1,560.70 | 1,315.40 | 1,046.40 | 1,575.40 |
| Interest Income | 2.10 | 3.90 | 5.70 | 2.50 |
| Interest Expense | 382 | 413.50 | 436.20 | 419.20 |
| Net Interest Income | -379.90 | -409.60 | -430.50 | -416.70 |
| Other Non Operating Income Expenses | 67.30 | 24.20 | 10.30 | 25.90 |
| Other Income Expense | 212.60 | -521.40 | -805.20 | 106.70 |
| Interest Income Non Operating | 2.10 | 3.90 | 5.70 | 2.50 |
| Interest Expense Non Operating | 382 | 413.50 | 436.20 | 419.20 |
| Net Non Operating Interest Income Expense | -379.90 | -409.60 | -430.50 | -416.70 |
| Pretax Income | 1,178.70 | 901.90 | 610.20 | 1,156.20 |
| Tax Provision | 290.50 | 218.70 | 262.50 | 3.70 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | -183.71 | -208.55 | -0.33 |
| Net Income Continuous Operations | 888.20 | 683.20 | 347.70 | 1,152.50 |
| Net Income From Continuing And Discontinued Operation | 888.20 | 683.60 | 347.20 | 1,152.40 |
| Net Income From Continuing Operation Net Minority Interest | 888.20 | 683.60 | 347.20 | 1,152.40 |
| Net Income | 888.20 | 683.60 | 347.20 | 1,152.40 |
| Net Income Common Stockholders | 888.20 | 683.60 | 347.20 | 1,152.40 |
| Net Income Including Noncontrolling Interests | 888.20 | 683.20 | 347.70 | 1,152.50 |
| Normalized Income | 888.20 | 1,257.49 | 1,131.75 | 1,253.67 |
| Diluted NI Availto Com Stockholders | 888.20 | 683.60 | 347.20 | 1,152.40 |
| Basic Average Shares | 480.30 | 478.90 | 478.60 | 478.30 |
| Diluted Average Shares | 482.20 | 480.70 | 480 | 479.70 |
| Reconciled Depreciation | 375.40 | 369.90 | 400.90 | 390.20 |
| Reconciled Cost Of Revenue | 8,697.10 | 9,012.20 | 8,717.50 | 8,609.30 |
| Total Unusual Items | - | -757.60 | -993.10 | -101.60 |
| Total Unusual Items Excluding Goodwill | - | -757.60 | -993.10 | -101.60 |
| Minority Interests | 0 | 0.40 | -0.50 | -0.10 |
| Earnings From Equity Interest Net Of Tax | 145.30 | 212 | - | - |
| Special Income Charges | - | -757.60 | -993.10 | -101.60 |
| Gain On Sale Of Business | - | -26.70 | -36.40 | -29.50 |
| Impairment Of Capital Assets | - | 730.90 | 956.70 | 72.10 |
| General And Administrative Expense | 1,492.80 | 2,189.50 | 2,480.60 | - |
| Other Gand A | 1,492.80 | 2,189.50 | 2,480.60 | - |
| Salaries And Wages | -67.30 | -24.20 | -10.30 | - |
| Other Operating Expenses | -67.30 | -24.20 | - | - |
| Earnings From Equity Interest | 145.30 | 212 | 177.60 | 182.40 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Conagra Brands, Inc.this co. | CAG | $6.1B | 5.26↓ discount | 0.68 | 12.9% | 7.16 |
| Molson Coors Beverage Company | TAP | $7.2B | -3.37 | 0.70 | -20.9% | -8.20 |
| The Campbell's Company | CPB | $6.4B | 10.67 | 1.65 | 15.4% | 8.57 |
| Lamb Weston Holdings, Inc. | LW | $5.9B | 16.38 | 3.37 | 20.6% | 9.26 |
| PriceSmart, Inc. | PSMT | $5.3B |
| - |
| - |
| - |
| - |
| - |
| 36.16 |
| 4.29 |
| 11.9% |
| 17.75 |
| Laureate Education, Inc. | LAUR | $4.7B | 16.68 | 3.95 | 23.7% | 9.70 |
| 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 |
| Peer Median | - | 16.53 | 3.16 | 18.0% | 9.48 | |