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Hormel Foods Corporation

Hormel Foods Corporation’s revenue for fiscal 2025 (year ended October 2025) was $12.1 billion, up 1.55% from fiscal 2024.

Revenue: −2.36%
EPS: −66.7%
Free cash flow: +107.2%
Total debt: −0.06%

Quarter to July 2026, against a year earlier

22.56 0.20 −0.88%

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Market cap: $12.4B
P/E: 35.8×
Fwd P/E: 16.8×
Dividend yield: 5.19%
F-score: 5/9
Altman Z: 3.32
Beneish M: −2.58
Dividend safety: 35/100

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Hormel Foods Corporation (HRL) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Retail	7,455	61.58%
Foodservice	3,942	32.56%
International	709	5.86%
Gross margin		15.63%
Operating margin		5.94%
Pre-tax margin		5.48%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Perishable	8,823 72.88%	8,549 71.71%	8,512 70.29%	8,737 70.13%	8,438 74.11%	5,329 55.46%	5,370 56.55%	5,336 55.90%	4,923 53.70%
Shelf-stable	3,283 27.12%	3,372 28.29%	3,598 29.71%	3,721 29.87%	2,948 25.89%	2,093 21.78%	1,829 19.26%	1,766 18.50%	1,852 20.20%
Poultry	—	—	—	—	—	1,886 19.63%	1,849 19.47%	1,842 19.30%	1,751 19.10%
Other Products	—	—	—	—	—	301 3.13%	448 4.72%	601 6.30%	642 7.00%
Revenue	12,106	11,921	12,110	12,459	11,386	9,608	9,497	9,546	9,168

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Retail	7,455 61.58%	7,374 61.86%	7,749 63.99%	7,988 64.11%	7,418 65.15%	—	—	—	—	—	—	—	—	—	—	—	—
Foodservice	3,942 32.56%	3,845 32.26%	3,639 30.05%	3,691 29.63%	3,130 27.49%	—	—	—	—	—	—	—	—	—	—	—	—
International	709 5.86%	702 5.88%	721 5.96%	780 6.26%	838 7.36%	—	—	—	—	—	—	—	—	—	—	—	—
Refrigerated Foods	—	—	—	—	—	5,271 54.86%	5,211 54.87%	5,110 53.53%	4,760 51.92%	4,647 48.80%	4,372 47.20%	4,644 49.85%	4,269 48.78%	4,223 51.31%	4,189 53.06%	3,828 53.01%	3,443 52.70%
Grocery Products	—	—	—	—	—	2,385 24.82%	2,369 24.95%	2,480 25.98%	2,508 27.35%	2,624 27.55%	1,618 17.46%	1,558 16.73%	1,518 17.34%	1,171 14.23%	1,065 13.48%	1,040 14.41%	925 14.15%
Jennie O Turkey Store	—	—	—	—	—	1,442 15.00%	1,447 15.24%	1,442 15.10%	1,355 14.78%	1,741 18.28%	1,636 17.66%	1,672 17.95%	1,725 19.71%	1,549 18.82%	1,467 18.58%	1,422 19.69%	1,325 20.28%
Other Segments	—	—	—	—	—	619 6.44%	593 6.25%	624 6.54%	545 5.95%	511 5.37%	535 5.77%	534 5.73%	448 5.12%	363 4.41%	339 4.29%	268 3.71%	236 3.62%
Specialty Foods	—	—	—	—	—	—	—	—	—	—	1,103 11.91%	907 9.74%	933 10.66%	924 11.23%	836 10.59%	783 10.84%	709 10.85%
Intersegment Eliminations	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	(121) (1.67%)	(104) (1.60%)
Eliminations	—	—	—	—	—	(108) (1.13%)	(124) (1.30%)	(111) (1.16%)	—	—	—	—	(141) (1.61%)	—	—	—	—
Revenue	12,106	11,921	12,110	12,459	11,386	9,608	9,497	9,546	9,168	9,523	9,264	9,316	8,752	8,231	7,895	7,221	6,534

Operating income by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
Foodservice	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Retail	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
International	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Refrigerated Foods	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Grocery Products	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Jennie O Turkey Store	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Other Segments	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Specialty Foods	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Corporate and other	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Operating income	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
U.S.	11,437 94.47%	11,284 94.66%	11,515 95.09%	11,777 94.53%	10,653 93.56%	9,006 93.73%	8,935 94.08%	8,957 93.84%	8,631 94.15%	9,013 94.64%	8,722 94.15%	8,708 93.47%	8,194 93.62%	7,740 94.04%	7,432 94.13%	6,874 95.20%	6,199 94.87%
Foreign	669 5.53%	637 5.34%	595 4.91%	682 5.47%	733 6.44%	602 6.27%	562 5.92%	588 6.16%	536 5.85%	510 5.36%	542 5.85%	608 6.53%	558 6.38%	491 5.96%	463 5.87%	347 4.80%	335 5.13%
Revenue	12,106	11,921	12,110	12,459	11,386	9,608	9,497	9,546	9,168	9,523	9,264	9,316	8,752	8,231	7,895	7,221	6,534

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Foodservice volume	Q3 FY2026	244.8M	248.5M	−1.49%
International volume	Q3 FY2026	75.9M	85.1M	−10.84%
Retail volume	Q3 FY2026	648.3M	712.9M	−9.06%
Total volume	Q3 FY2026	969.1M	1.0B	−7.41%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024
Foodservice volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
International volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Retail volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total volume	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.