Lamb Weston Holdings, Inc. LW
Lamb Weston Holdings, Inc. ("we," "us," "our," "the Company," or "Lamb Weston") is a leading global producer, distributor, and marketer of value-added frozen potato products and is headquartered in Eagle, Idaho. We are the number one supplier of value-added frozen potato products in North America and a leading supplier of value-added frozen potato products internationally, with a strong presence in high-growth emerging markets. We offer a broad product portfolio to a diverse channel and customer base in over 100 countries. French fries represent most of our product portfolio.
We have two reportable segments: North America and International. For segment financial information, see "Part II, Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations" and Note 13, Segments, of the Notes to Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of this Form 10-K.
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 | $6.61B | $6.45B | $6.47B | $5.35B | $4.10B | $3.67B | $3.79B | $3.76B | $3.42B | $3.17B |
| Cost of revenue | $5.25B | $5.05B | $4.70B | $3.92B | $3.27B | $2.84B | $2.90B | $2.75B | $2.54B | $2.39B |
| Gross profit | $1.36B | $1.40B | $1.77B | $1.43B | $832.0M | $832.0M | $895.2M | $1.00B | $879.5M | $778.8M |
| R&D | $18.9M | $22.0M | $26.4M | $17.2M | $16.2M | $12.9M | $15.4M | $15.4M | $13.5M | $10.6M |
| SG&A | $664.6M | $633.5M | $701.4M | $550.0M | $387.6M | $357.2M | $338.3M | $335.1M | $299.4M | $260.5M |
| Operating income | $591.1M | $665.1M | $1.07B | $882.1M | $444.4M | $474.8M | $556.9M | $668.4M | $580.1M | $518.3M |
| Pre-tax income | $418.1M | $500.3M | $955.5M | $1.23B | $272.7M | $408.3M | $478.2M | $620.8M | $554.9M | $510.4M |
| Income tax | $128.1M | $143.1M | $230.0M | $224.6M | $71.8M | $90.5M | $112.3M | $133.6M | $121.2M | $170.2M |
| Net income | $290.0M | $357.0M | $726.0M | $1.01B | $201.0M | $317.8M | $365.9M | $478.6M | $416.8M | $326.9M |
| EPS, basic | 2.09 | 2.51 | 5.01 | 6.98 | 1.38 | 2.17 | 2.50 | 3.19 | 2.83 | 2.22 |
| EPS, diluted | 2.08 | 2.50 | 4.98 | 6.95 | 1.38 | 2.16 | 2.49 | 3.18 | 2.82 | 2.22 |
| Shares, diluted (wtd. avg.) | $139.1M | $142.7M | $145.6M | $145.2M | $145.9M | $147.1M | $147.1M | $147.3M | $147.0M | $146.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $68.2M | $70.7M | $71.4M | $304.8M | $525.0M | $783.5M | $1.36B | $12.2M | $55.6M | $57.1M |
| Receivables | $779.1M | $781.6M | $743.6M | $724.2M | $447.3M | $366.9M | $342.1M | $340.1M | $225.9M | $185.2M |
| Inventory | $968.5M | $1.04B | $1.14B | $932.0M | $574.4M | $513.5M | $486.7M | $498.3M | $549.7M | $525.0M |
| Total current assets | $2.01B | $2.03B | $2.09B | $2.13B | $1.66B | $1.78B | $2.30B | $961.5M | $930.4M | $858.2M |
| Property, plant and equipment | — | — | — | — | — | — | — | $1.60B | $1.42B | $1.27B |
| Goodwill | $1.13B | $1.09B | $1.06B | $1.04B | $318.0M | $334.5M | $303.8M | $205.9M | $135.1M | $133.0M |
| Other intangibles | $108.3M | $114.0M | $104.9M | $110.2M | $33.7M | $36.9M | $38.3M | $37.6M | $35.4M | $37.2M |
| Total assets | $7.38B | $7.39B | $7.37B | $6.52B | $4.14B | $4.21B | $4.66B | $3.05B | $2.75B | $2.49B |
| Accounts payable | $613.1M | $616.4M | $833.8M | $636.6M | $402.6M | $359.3M | $244.4M | $289.2M | $254.4M | $295.0M |
| Short-term debt | $249.4M | $370.8M | $326.3M | $160.6M | — | — | $498.7M | $8.4M | $9.6M | $22.0M |
| Total current liabilities | $1.42B | $1.48B | $1.62B | $1.36B | $699.1M | $618.2M | $1.02B | $552.8M | $518.7M | $555.4M |
| Long-term debt | $3.68B | $3.77B | $3.84B | — | — | — | — | — | — | — |
| Retained earnings | $2.93B | $2.85B | $2.70B | $2.16B | $1.31B | $1.24B | $1.06B | $803.6M | $426.4M | $121.0M |
| Total equity | $1.82B | $1.74B | $1.79B | $1.41B | $360.5M | $480.6M | $240.0M | -$4.6M | -$334.8M | -$647.2M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $942.9M | $868.3M | $798.2M | $761.7M | $418.6M | $552.7M | $574.0M | $680.9M | $481.2M | $446.9M |
| Depreciation and amortisation | $396.7M | $374.8M | $306.8M | $222.8M | $192.1M | $187.8M | $182.3M | $162.4M | $143.3M | $109.1M |
| Stock-based compensation | $46.2M | $39.5M | $46.8M | $38.5M | $21.3M | $20.6M | $22.8M | $18.8M | $13.5M | $5.7M |
| Capital expenditure | $402.7M | $638.2M | $929.5M | $654.0M | $290.1M | $147.2M | $167.7M | $334.2M | $306.8M | $287.4M |
| Investing cash flow | -$380.2M | -$648.0M | -$984.1M | -$1.34B | -$310.5M | -$162.5M | -$346.0M | -$423.0M | -$306.8M | -$285.3M |
| Financing cash flow | -$569.1M | -$225.0M | -$48.0M | $340.8M | -$363.4M | -$974.0M | $1.12B | -$299.6M | -$178.9M | -$142.0M |
| Dividends paid | $207.5M | $206.9M | $174.0M | $146.1M | $138.4M | $135.3M | $121.3M | $113.3M | $110.2M | $27.4M |
| Buybacks | $113.2M | $282.0M | $210.0M | $45.0M | $150.7M | $25.7M | $22.9M | $31.8M | — | — |
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 0001679273-26-000036.
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