Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products, including resh meats, frozen items, refrigerated meal solutions, bacon, sausages, hams, guacamole, and other items that require refrigeration; and shelf-stable products, such as canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, and other items that do not require refrigeration. It sells its products under the HORMEL, ALWAYS TENDER, APPLEGATE, AUSTIN BLUES, BACON 1, BLACK LABEL, BREAD READY, BURKE, CAFΓ H, CERATTI, CHI-CHI'S, COLUMBUS, COMPLEATS, CORN NUTS, CURE 81, DAN'S PRIZE, DI LUSSO, DINTY MOORE, DON MIGUEL, DOΓA MARIA, EMBASA, FAST ΒN EASY, FIRE BRAISED, FONTANINI, HERDEZ, HORMEL GATHERINGS, HOUSE OF TSANG, JENNIE-O, JUSTIN'S, LA VICTORIA, LAYOUT, LLOYD'S, MARY KITCHEN, MR. PEANUT, NATURAL CHOICE, NUT-RITION, OLD SMOKEHOUSE, OVEN READY, PILLOW PACK, PLANTERS, ROSA GRANDE, SADLER'S SMOKEHOUSE, SKIPPY, SPAM, SQUARE TABLE, SPECIAL RECIPE, VALLEY FRESH, and WHOLLY brands through sales personnel, independent brokers, and distributors. The company was formerly known as Geo. A. Hormel & Company and changed its name to Hormel Foods Corporation in January 1995. Hormel Foods Corporation was founded in 1891 and is headquartered in Austin, Minnesota.
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 | $12.1B | $1.0B | $478M | $534M | 6.1% | 1.6% | -40.6% |
| 2024 | $11.9B | $1.4B | $805M | $1.0B | 10.1% | -1.6% | 1.4% |
| 2023 | $12.1B | $1.3B | $794M | $778M | 10.3% | -2.8% | -20.6% |
| 2022 | $12.5B | $1.6B | $1000M | $856M | 13.3% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 12,458.81 | 12,110.01 | 11,920.80 | 12,106.16 |
| Operating Revenue | - | 12,458.81 | 12,110.01 | 11,920.80 | 12,106.16 |
| Cost Of Revenue | - | 10,294.12 | 10,110.17 | 9,898.66 | 10,214.34 |
| Gross Profit | - | 2,164.69 | 1,999.84 | 2,022.14 | 1,891.82 |
| Operating Expense | - | 879.26 | 942.17 | 1,005.29 | 996.62 |
| Selling General And Administration | - | 879.26 | 942.17 | 1,005.29 | 996.62 |
| Total Expenses | - | 11,173.38 | 11,052.34 | 10,903.95 | 11,210.97 |
| Operating Income | - | 1,285.42 | 1,057.67 | 1,016.84 | 895.19 |
| Total Operating Income As Reported | - | 1,312.61 | 1,072.05 | 1,067.93 | 718.60 |
| EBITDA | - | 1,576.50 | 1,340.18 | 1,374.08 | 1,005.39 |
| Normalized EBITDA | - | 1,576.50 | 1,368.57 | 1,374.08 | 1,076.14 |
| EBIT | - | 1,340.62 | 1,086.87 | 1,116.33 | 741.49 |
| Interest Income | - | 28.01 | 23.50 | 40.17 | 24.23 |
| Interest Expense | - | 62.52 | 73.40 | 80.89 | 78.04 |
| Net Interest Income | - | -34.50 | -49.90 | -40.72 | -53.81 |
| Other Non Operating Income Expenses | - | - | -8.67 | 8.22 | -1.34 |
| Other Income Expense | - | 27.18 | 5.70 | 59.31 | -177.93 |
| Interest Income Non Operating | - | 28.01 | 23.50 | 40.17 | 24.23 |
| Interest Expense Non Operating | - | 62.52 | 73.40 | 80.89 | 78.04 |
| Net Non Operating Interest Income Expense | - | -34.50 | -49.90 | -40.72 | -53.81 |
| Pretax Income | - | 1,278.10 | 1,013.47 | 1,035.43 | 663.45 |
| Tax Provision | - | 277.88 | 220.55 | 230.80 | 185.68 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0 | -6.19 | 0 | -19.80 |
| Net Income Continuous Operations | - | 1,000.23 | 792.92 | 804.63 | 477.76 |
| Net Income From Continuing And Discontinued Operation | - | 999.99 | 793.57 | 805.04 | 478.20 |
| Net Income From Continuing Operation Net Minority Interest | - | 999.99 | 793.57 | 805.04 | 478.20 |
| Net Income | - | 999.99 | 793.57 | 805.04 | 478.20 |
| Net Income Common Stockholders | - | 999.99 | 793.57 | 805.04 | 478.20 |
| Net Income Including Noncontrolling Interests | - | 1,000.23 | 792.92 | 804.63 | 477.76 |
| Normalized Income | - | 999.99 | 815.77 | 805.04 | 529.15 |
| Diluted NI Availto Com Stockholders | - | 999.99 | 793.57 | 805.04 | 478.20 |
| Basic Average Shares | - | 544.92 | 546.42 | 548.13 | 550.16 |
| Diluted Average Shares | - | 549.57 | 548.98 | 548.83 | 550.50 |
| Reconciled Depreciation | - | 235.88 | 253.31 | 257.76 | 263.90 |
| Reconciled Cost Of Revenue | - | 10,294.12 | 10,110.17 | 9,898.66 | 10,214.34 |
| Total Unusual Items | - | 0 | -28.38 | 0 | -70.75 |
| Total Unusual Items Excluding Goodwill | - | 0 | -28.38 | 0 | -70.75 |
| Minority Interests | - | -0.24 | 0.65 | 0.41 | 0.43 |
| Special Income Charges | - | 0 | -28.38 | 0 | -70.75 |
| Impairment Of Capital Assets | 0 | 0 | 28.38 | - | - |
| Earnings From Equity Interest | - | 27.18 | 42.75 | 51.09 | -105.84 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Hormel Foods Corporationthis co. | HRL | $12.8B | 26.80β premium | 1.62 | 6.1% | 14.92 |
| Church & Dwight Co., Inc. | CHD | $22.3B | 30.27 | 5.57 | 18.4% | 18.54 |
| Dollar Tree, Inc. | DLTR | $21.0B | 16.37 | 5.59 | 34.2% | 11.57 |
| Tyson Foods, Inc. | TSN | $20.0B | 42.26 | 1.11 | 2.6% | 10.71 |
| General Mills, Inc. | GIS | $17.2B |
| - |
| - |
| - |
| - |
| - |
| - |
| 7.49 |
| 1.87 |
| 24.9% |
| 8.19 |
| McCormick & Company, Incorporated | MKC | $12.5B | 15.88 | 2.18 | 13.8% | 12.38 |
| Brown-Forman Corporation | BF-B | $11.7B | 13.44 | 2.92 | 21.8% | 10.83 |
| The Clorox Company | CLX | $10.8B | 13.38 | 33.76 | 252.3% | 9.78 |
| The J. M. Smucker Company | SJM | $10.8B | -8.76 | 1.77 | -20.2% | -118.74 |
| Peer Median | - | 14.66 | 2.55 | 20.1% | 10.77 | |