CAMPBELL'S Co CPB
Unless otherwise stated, the terms "we," "us," "our" and the "company" refer to The Campbell's Company and its consolidated subsidiaries.
We are a manufacturer and marketer of high-quality, branded food and beverage products. We organized as a business corporation under the laws of New Jersey on November 23, 1922; however, through predecessor organizations, we trace our heritage in the food business back to 1869. Our principal executive offices are in Camden, New Jersey 08103-1799.
On March 12, 2024, we completed the acquisition of Sovos Brands, Inc. (Sovos Brands) for total purchase consideration of $2.899 billion. For additional information on this acquisition, see Note 3 to the Consolidated Financial Statements.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $10.25B | $9.64B | $9.36B | $8.56B | $8.48B | $8.69B | $8.11B | $6.62B | $5.84B | $7.96B |
| Cost of revenue | $7.13B | $6.67B | $6.44B | $5.93B | $5.67B | $5.69B | $5.41B | $4.24B | $3.40B | $5.03B |
| Gross profit | $3.12B | $2.97B | $2.92B | $2.63B | $2.81B | $3.00B | $2.69B | $2.37B | $2.44B | $2.93B |
| SG&A | $674.0M | $737.0M | $654.0M | $617.0M | $598.0M | $622.0M | $610.0M | $563.0M | $448.0M | $575.0M |
| Total operating expenses | $9.13B | $8.64B | $8.04B | $7.40B | $6.93B | $7.58B | $7.13B | $5.61B | $4.41B | $7.00B |
| Operating income | $1.12B | $1.00B | $1.31B | $1.16B | $1.54B | $1.11B | $979.0M | $1.01B | $1.43B | $960.0M |
| Interest expense | $345.0M | $249.0M | $188.0M | $189.0M | $210.0M | $345.0M | $356.0M | $183.0M | $115.0M | $115.0M |
| Pre-tax income | $796.0M | $757.0M | $1.13B | $975.0M | $1.34B | $766.0M | $625.0M | $830.0M | $1.32B | $849.0M |
| Income tax | $194.0M | $190.0M | $270.0M | $218.0M | $328.0M | $174.0M | $151.0M | $106.0M | $392.0M | $286.0M |
| Net income | $602.0M | $567.0M | $858.0M | $757.0M | $1.00B | $1.63B | $211.0M | $261.0M | $887.0M | $563.0M |
| EPS, basic | 2.02 | 1.90 | 2.87 | 2.51 | 3.31 | 5.39 | 0.70 | 0.87 | 2.91 | 1.82 |
| EPS, diluted | 2.01 | 1.89 | 2.85 | 2.51 | 3.29 | 5.36 | 0.70 | 0.86 | 2.89 | 1.81 |
| Shares, diluted (wtd. avg.) | $300.0M | $300.0M | $301.0M | $302.0M | $305.0M | $304.0M | $302.0M | $302.0M | $307.0M | $311.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $132.0M | $108.0M | $189.0M | $109.0M | $69.0M | $859.0M | $31.0M | $49.0M | $37.0M | $66.0M |
| Receivables | $541.0M | $587.0M | $494.0M | $490.0M | $544.0M | $530.0M | $525.0M | $510.0M | $550.0M | $554.0M |
| Inventory | $1.42B | $1.39B | $1.29B | $1.25B | $933.0M | $871.0M | $863.0M | $887.0M | $902.0M | $940.0M |
| Total current assets | $2.23B | $2.19B | $2.06B | $1.96B | $1.70B | $2.38B | $1.97B | $2.30B | $1.90B | $1.91B |
| Property, plant and equipment | $2.77B | $2.70B | $2.40B | $2.34B | $2.37B | $2.37B | $2.46B | $2.47B | $1.64B | $2.41B |
| Goodwill | $4.99B | $5.08B | $3.96B | $3.98B | $3.98B | $3.99B | $4.02B | $3.86B | $811.0M | $2.26B |
| Other intangibles | $4.36B | $4.72B | $3.14B | $3.20B | $3.24B | $3.35B | $3.42B | $3.66B | $1.12B | $1.15B |
| Total assets | $14.90B | $15.23B | $12.06B | $11.89B | $11.73B | $12.37B | $13.15B | $14.53B | $7.73B | $7.84B |
| Accounts payable | $1.33B | $1.31B | $1.31B | $1.33B | $1.07B | $1.05B | $814.0M | $705.0M | $666.0M | $610.0M |
| Short-term debt | $400.0M | $1.15B | $0 | $565.0M | $0 | $921.0M | $500.0M | $390.0M | $0 | $441.0M |
| Total current liabilities | $2.91B | $3.58B | $2.22B | $2.89B | $1.81B | $3.08B | $3.38B | $3.59B | $2.40B | $2.56B |
| Long-term debt | — | — | — | — | — | — | — | $8.60B | $2.50B | $2.75B |
| Total liabilities | $10.99B | $11.44B | $8.39B | $8.56B | $8.58B | $9.80B | $12.04B | $13.16B | $6.08B | $6.30B |
| Retained earnings | $4.69B | $4.57B | $4.45B | $4.04B | $3.74B | $3.19B | $1.99B | $2.22B | $2.38B | $1.93B |
| Total equity | $3.90B | $3.79B | $3.66B | $3.33B | $3.15B | $2.57B | $1.11B | $1.37B | $1.65B | $1.53B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.13B | $1.19B | $1.14B | $1.18B | $1.03B | $1.40B | $1.40B | $1.30B | $1.29B | $1.49B |
| Depreciation and amortisation | $434.0M | $411.0M | $387.0M | $337.0M | $317.0M | $328.0M | $446.0M | $394.0M | $318.0M | $308.0M |
| Stock-based compensation | $57.0M | $99.0M | $63.0M | $59.0M | $64.0M | $61.0M | $58.0M | $61.0M | $60.0M | $64.0M |
| Capital expenditure | $426.0M | $517.0M | $370.0M | $242.0M | $275.0M | $299.0M | $384.0M | $407.0M | $338.0M | $341.0M |
| Investing cash flow | -$187.0M | -$3.13B | -$340.0M | -$230.0M | -$158.0M | $2.27B | $153.0M | -$7.20B | -$368.0M | -$354.0M |
| Financing cash flow | -$919.0M | $1.86B | -$723.0M | -$910.0M | -$1.67B | -$2.99B | -$1.59B | $5.81B | -$908.0M | -$1.10B |
| Dividends paid | $459.0M | $445.0M | $447.0M | $451.0M | $439.0M | $426.0M | $423.0M | $426.0M | $420.0M | $390.0M |
| Buybacks | $62.0M | $67.0M | $142.0M | $167.0M | $36.0M | $0 | $0 | $86.0M | $437.0M | $143.0M |
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 0000016732-25-000112.
Others in SIC 2000
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| MDLZ | Mondelez International, Inc. | $78.66B | 32.4x | 5.8% |
| CAG | CONAGRA BRANDS INC. | $7.41B | — | -2.9% |
| BYND | BEYOND MEAT, INC. | $6.08B | — | -15.6% |
| FLO | FLOWERS FOODS INC | $1.33B | 15.7x | 3.0% |
| BRBR | BELLRING BRANDS, INC. | $1.21B | 6.2x | 16.1% |
| SMPL | Simply Good Foods Co | $1.01B | 11.2x | 9.0% |
| VITL | Vital Farms, Inc. | $425.9M | 6.9x | 25.3% |
| BGS | B&G Foods, Inc. | $267.4M | — | -5.4% |