Cal-Maine Foods, Inc.
CALM Consumer Defensive Farm Products
Cal-Maine Foods, Inc.’s revenue for fiscal 2026 (year ended May 2026) was $2.9 billion, down 31.7% from fiscal 2025. In the quarter to August 2026, revenue fell 41.5%, EPS fell 129.1% and free cash flow fell 154.8%, each against the same quarter a year earlier.
Follow CALM
Cal-Maine Foods, Inc. (CALM) Altman Z-score
Cal-Maine Foods, Inc.'s Altman Z-score for fiscal 2026 is 7.66, in the safe zone (above 2.99).
Altman Z-score, annual
Embed this chart
Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 7.66 | (2.58) |
| FY2025 | 10.24 | 2.37 |
| FY2024 | 7.87 | (1.10) |
| FY2023 | 8.97 | 1.64 |
| FY2022 | 7.33 | 0.07 |
| FY2021 | 7.26 | (2.00) |
| FY2020 | 9.26 | (0.18) |
| FY2019 | 9.44 | (0.94) |
| FY2018 | 10.38 | 2.51 |
| FY2017 | 7.87 | (3.57) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.44 | — | 0.53 | |
| Retained earnings / total assets | 0.89 | — | 1.25 | |
| EBIT / total assets | 0.11 | — | 0.37 | |
| Market value of equity / total liabilities | 7.62 | — | 4.57 | |
| Sales / total assets | 0.94 | — | 0.94 | |
| Altman Z-score | Safe zone | 7.66 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 12.50 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| VITL Vital Farms, Inc. compare | 7.9× |
| CALM Cal-Maine Foods, Inc. | 7.7× |
| DMC Del Monte Corporation compare | 3.5× |
| TSN Tyson Foods, Inc. compare | 3.0× |
| DOLE Dole PLC compare | 2.8× |
| BG Bunge Global SA compare | 2.7× |
| LND Brasilagro Cia Brasileira De Propriedades Agricolas compare | 1.1× |
| AGRO Adecoagro S.A. compare | 0.7× |
| IBA Industrias Bachoco, S.A. de C.V. compare | — |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets