CONAGRA BRANDS INC. CAG

Consumer staples SIC 2000 - Food and Kindred Products NAICS Manufacturing › Food Manufacturing derived NYSE

Conagra Brands, Inc. (the "Company", "Conagra Brands", "we", "us", or "our"), headquartered in Chicago, is one of North America's leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The Company's portfolio is continuously evolving to satisfy consumers' ever-changing food preferences. Conagra's brands include Birds Eye®, Duncan Hines®, Healthy Choice®, Marie Callender's®, Reddi-wip®, Slim Jim®, Angie's® BOOMCHICKAPOP®, and many more.

We began as a Midwestern flour-milling company and entered other commodity-based businesses throughout our history. We were initially incorporated as a Nebraska corporation in 1919 and reincorporated as a Delaware corporation in 1976. Over time, we transformed into the branded, pure-play consumer packaged goods food company we are today. Growing our food businesses has also been fueled by innovation, organic growth of our brands, and expansion into adjacent categories, including through acquisitions. We are focused on delivering sustainable, profitable growth with strong and improving returns on our invested capital.

Last close 14.86 2026-10-23
Market cap $7.11B 2026-05-31 share count
52-week range 12.53 - 20.32

Valuation FY2025 figures against the last close

P/S0.6x
P/E—
P/FCF7.3x
EV/EBITDA—
Dividend yield9.4%
Diluted EPS-4.00

Where the revenue comes from as reported in the latest 10-K

Revenue by segment

  • Refrigerated & Frozen
  • Grocery & Snacks
  • Foodservice
  • International
Revenue by segment, 4 categories over 3 years. The same figures are in the table below. FY2025 Refrigerated & Frozen, FY2025: 4.6B (41.1%) 41% Refrigerated & Frozen Grocery & Snacks, FY2025: 4.6B (40.9%) 41% Grocery & Snacks Foodservice, FY2025: 1.1B (9.9%) 10% Foodservice International, FY2025: 913.9M (8.1%) 8% FY2024 Refrigerated & Frozen, FY2024: 4.7B (40.1%) 40% Grocery & Snacks, FY2024: 4.9B (42.2%) 42% Foodservice, FY2024: 1.1B (9.4%) 9% International, FY2024: 956.5M (8.2%) 8% FY2023 Refrigerated & Frozen, FY2023: 4.9B (40.4%) 40% Grocery & Snacks, FY2023: 5B (41.1%) 41% Foodservice, FY2023: 1.1B (9.5%) 10% International, FY2023: 1.1B (8.9%) 9%
Segment FY2025FY2024FY2023
Refrigerated & Frozen $4.64B $4.66B $4.87B
Grocery & Snacks $4.61B $4.90B $4.96B
Foodservice $1.12B $1.09B $1.15B
International $913.9M $956.5M $1.08B

As the company reported it, from the “BUSINESS SEGMENTS AND RELATED INFORMATION - Segment Reporting Information by Segment (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Segments are the filer's own reporting structure, which is a decision about how it runs itself rather than a standard taxonomy: two companies in the same industry routinely divide themselves along different lines, so these are worth reading down a single company rather than across two. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $11.28B$11.61B$12.05B$12.28B$11.54B$11.18B$11.05B$9.54B$7.94B$7.83B
Cost of revenue $8.58B$8.61B$8.72B$9.01B$8.70B$8.01B$7.98B$6.89B$5.59B$5.48B
Gross profit $2.70B$3.00B$3.33B$3.26B$2.84B$3.18B$3.07B$2.65B$2.35B$2.34B
R&D $62.7M$60.8M$61.4M$57.7M$53.4M$51.3M$56.4M$56.1M$47.3M$44.6M
SG&A $1.44B$1.54B$1.49B$1.43B$1.49B$1.40B$1.62B$1.47B$1.40B$1.47B
Operating income -$1.63B$1.36B$852.8M$1.08B$1.59B$2.14B$1.82B$1.64B$1.41B$1.24B
Interest expense $382.6M$416.7M$430.5M$409.6M$379.9M$420.4M$487.1M$391.4M$158.7M$195.5M
Pre-tax income -$1.82B$1.16B$610.2M$901.9M$1.18B$1.49B$1.04B$899.1M$972.1M$800.7M
Income tax $91.8M$3.7M$262.5M$218.7M$290.5M$193.8M$201.3M$218.8M$174.6M$254.7M
Net income -$1.92B$1.15B$347.7M$683.2M$888.2M$1.30B$840.1M$678.3M$808.4M$639.3M
EPS, basic -4.002.410.731.431.852.671.721.532.001.48
EPS, diluted -4.002.400.721.421.842.661.721.521.981.46
Shares, diluted (wtd. avg.) 479.0M479.7M480.0M480.7M482.2M487.8M488.6M445.6M407.4M436.0M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $218.0M$68.0M$77.7M$93.3M$83.3M$79.2M$553.3M$236.6M$128.0M$251.4M
Receivables $658.2M$770.0M$871.8M$952.8M$867.4M$793.9M$860.8M$818.2M$569.4M$563.4M
Inventory $1.91B$2.05B$1.98B$2.21B$1.97B$1.71B$1.36B$1.55B$988.7M$927.9M
Total current assets $2.88B$3.07B$3.15B$3.38B$3.03B$2.70B$2.89B$2.73B$1.94B$2.01B
Property, plant and equipment —$2.84B$2.82B$2.74B$2.74B$2.57B$2.37B$2.33B$1.59B$1.63B
Goodwill $8.12B$10.50B$10.33B$10.85B$11.26B$11.34B$11.33B$11.36B$4.48B$4.28B
Other intangibles $1.83B$2.42B$2.48B$3.19B$3.86B$4.12B$4.30B$4.54B$1.28B$1.22B
Total assets $17.27B$20.93B$20.86B$22.05B$22.44B$22.20B$22.30B$22.21B$10.39B$10.10B
Accounts payable $1.51B$1.59B$1.49B$1.53B$1.86B$1.66B$1.51B$1.25B$905.3M$773.1M
Short-term debt $778.2M$1.03B$20.3M$1.52B$707.3M$23.1M$845.5M$20.6M$307.0M$199.0M
Total current liabilities $3.19B$4.32B$3.24B$4.44B$3.52B$3.31B$3.29B$2.14B$2.34B$1.72B
Long-term debt $6.46B$6.23B$7.49B$7.08B$8.09B$8.28B$8.90B$10.66B$3.23B$2.77B
Total liabilities $10.92B$12.00B$12.35B$13.25B$13.57B$13.56B$14.35B$14.75B$6.63B$6.02B
Retained earnings $4.17B$6.76B$6.28B$6.60B$6.55B$6.26B$5.47B$5.05B$4.74B$4.25B
Total equity $6.36B$8.93B$8.51B$8.81B$8.86B$8.63B$7.95B$7.46B$3.76B$4.08B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $1.40B$1.69B$2.02B$995.4M$1.18B$1.47B$1.84B$1.13B$954.2M$1.17B
Depreciation and amortisation $396.0M$390.2M$400.9M$369.9M$375.4M$387.7M$388.9M$283.9M$222.1M$234.4M
Stock-based compensation $54.7M$41.5M$30.8M$79.2M$26.1M$63.9M$59.2M$33.7M$37.9M$36.1M
Capital expenditure $423.4M$389.3M$388.1M$362.2M$464.4M$506.4M$369.5M$353.1M$251.6M$242.1M
Investing cash flow $262.6M-$542.2M-$375.0M-$354.9M-$434.9M-$340.3M-$153.8M-$5.17B-$576.2M-$184.0M
Financing cash flow -$1.52B-$1.16B-$1.66B-$631.6M-$738.0M-$1.61B-$1.37B$4.15B-$506.9M-$1.57B
Dividends paid $669.7M$669.2M$659.3M$623.8M$581.8M$474.6M$413.6M$356.2M$342.3M$415.0M
Buybacks $15.3M$64.0M—$150.0M$50.0M$298.1M$0$0$967.3M$1.00B

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000023217-26-000037.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B Revenue, FY2016: 7.8B Gross profit, FY2016: 2.3B Net income, FY2016: 639.3M Revenue, FY2017: 7.9B Gross profit, FY2017: 2.4B Net income, FY2017: 808.4M Revenue, FY2018: 9.5B Gross profit, FY2018: 2.7B Net income, FY2018: 678.3M Revenue, FY2019: 11.1B Gross profit, FY2019: 3.1B Net income, FY2019: 840.1M Revenue, FY2020: 11.2B Gross profit, FY2020: 3.2B Net income, FY2020: 1.3B Revenue, FY2021: 11.5B Gross profit, FY2021: 2.8B Net income, FY2021: 888.2M Revenue, FY2022: 12.3B Gross profit, FY2022: 3.3B Net income, FY2022: 683.2M Revenue, FY2023: 12.1B Gross profit, FY2023: 3.3B Net income, FY2023: 347.7M Revenue, FY2024: 11.6B Gross profit, FY2024: 3B Net income, FY2024: 1.2B Revenue, FY2025: 11.3B Gross profit, FY2025: 2.7B Net income, FY2025: -1.9B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $7.83B $7.94B $9.54B $11.05B $11.18B $11.54B $12.28B $12.05B $11.61B $11.28B
Gross profit $2.34B $2.35B $2.65B $3.07B $3.18B $2.84B $3.26B $3.33B $3.00B $2.70B
Net income $639.3M $808.4M $678.3M $840.1M $1.30B $888.2M $683.2M $347.7M $1.15B -$1.92B

Recent filings and events

  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Item 5.02
  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Officer or director change Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced Item 2.02
  • Officer or director change Item 5.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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