Saturday 17 October 2026
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Lamb Weston
LW Consumer Defensive Packaged Foods
Lamb Weston’s revenue for fiscal 2026 (year ended May 2026) was $6.6 billion, up 2.50% from fiscal 2025. In the quarter to August 2026, revenue was flat, EPS fell 54.0%, free cash flow fell 47.3% and total debt was flat, each against the same quarter a year earlier. Dividend growth for ten consecutive years, operating cash flow growth for three; insiders bought in the last twelve months.
53.59
0.62
−1.14%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to May
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 2027e | 2028e | 2029e |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Price, $ | |||||||||||||||
| Price, $ | Low | 35.81 | 52.92 | 58.83 | 39.06 | 50.22 | 49.71 | 81.26 | 52.99 | 41.41 | 37.62 |
Analyst estimates 2027–2029 Powerpack |
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| High | 57.51 | 83.86 | 86.59 | 96.32 | 86.41 | 90.60 | 117.38 | 111.88 | 67.93 | 55.70 | |||||
| People | |||||||||||||||
| People | Employees | 6,500 | 7,200 | 7,600 | 7,700 | 7,800 | 8,000 | 10,300 | 10,700 | 10,100 | 10,000 | ||||
| Revenue/emp, $m | 0.49 | 0.48 | 0.49 | 0.49 | 0.47 | 0.51 | 0.52 | 0.60 | 0.64 | 0.66 | |||||
| Income, $m | |||||||||||||||
| Income, $m | Revenue | 3,168 | 3,424 | 3,757 | 3,792 | 3,671 | 4,099 | 5,351 | 6,468 | 6,451 | 6,612 | ||||
| Gross margin, % | 24.58 | 25.69 | 26.71 | 23.61 | 22.66 | 20.30 | 26.77 | 27.32 | 21.68 | 20.56 | |||||
| EBT | 457 | 471 | 561 | 449 | 357 | 283 | 773 | 930 | 485 | 411 | |||||
| EBT margin, % | 14.43 | 13.77 | 14.94 | 11.84 | 9.71 | 6.91 | 14.45 | 14.37 | 7.52 | 6.21 | |||||
| Net income | 340 | 434 | 487 | 366 | 318 | 201 | 1,009 | 726 | 357 | 290 | |||||
| Depreciation | 109 | 143 | 162 | 182 | 188 | 192 | 223 | 307 | 375 | 397 | |||||
| Per share, $ | |||||||||||||||
| Per share, $ | Revenue | 21.68 | 23.40 | 25.64 | 25.94 | 25.07 | 28.17 | 37.03 | 44.63 | 45.37 | 47.60 | ||||
| Earnings | 2.22 | 2.83 | 3.19 | 2.50 | 2.17 | 1.38 | 6.98 | 5.01 | 2.51 | 2.09 | |||||
| Cash flow | 3.06 | 3.29 | 4.65 | 3.93 | 3.78 | 2.88 | 5.27 | 5.51 | 6.11 | 6.79 | |||||
| Capex | (1.97) | (2.10) | (2.30) | (1.43) | (1.12) | (2.11) | (5.09) | (6.84) | (4.71) | (2.77) | |||||
| Free cash flow | 1.09 | 1.19 | 2.35 | 2.50 | 2.66 | 0.77 | 0.18 | (1.34) | 1.40 | 4.02 | |||||
| Book value | (4.43) | (2.29) | (0.03) | 1.64 | 3.28 | 2.48 | 9.77 | 12.34 | 12.22 | 13.14 | |||||
| Shares, m | 146 | 146 | 147 | 146 | 146 | 146 | 145 | 145 | 142 | 139 | |||||
| Valuation, × | |||||||||||||||
| Valuation, × | P/E | 20.64 | 22.53 | 18.57 | 24.64 | 38.69 | 48.97 | 15.95 | 17.66 | 21.76 | 20.27 | ||||
| P/S | 2.14 | 2.72 | 2.31 | 2.37 | 3.35 | 2.40 | 3.00 | 1.98 | 1.21 | 0.89 | |||||
| P/B | 0.00 | 0.00 | 0.00 | 37.52 | 25.58 | 27.28 | 11.39 | 7.16 | 4.49 | 3.24 | |||||
| EV/Sales | 2.89 | 3.40 | 2.93 | 2.95 | 3.88 | 2.94 | 3.59 | 2.56 | 1.84 | 1.48 | |||||
| EV/FCF | 57.36 | 66.84 | 31.96 | 30.58 | 36.58 | 107.27 | 748.09 | (85.46) | 59.74 | 17.47 | |||||
| Cash, $m | |||||||||||||||
| Cash, $m | Operating cash flow | 447 | 481 | 681 | 574 | 553 | 419 | 762 | 798 | 868 | 943 | ||||
| Capex | (287) | (307) | (337) | (208) | (163) | (306) | (736) | (992) | (670) | (384) | |||||
| Free cash flow | 160 | 174 | 344 | 366 | 389 | 112 | 26 | (194) | 199 | 559 | |||||
| Balance, $m | |||||||||||||||
| Balance, $m | Working capital | 303 | 412 | 409 | 1,278 | 1,164 | 961 | 767 | 466 | 557 | 599 | ||||
| Total debt | 2,425 | 2,385 | 2,327 | 3,540 | 2,737 | 2,728 | 3,462 | 3,823 | 4,131 | 3,915 | |||||
| Net debt | 2,368 | 2,329 | 2,314 | 2,176 | 1,954 | 2,203 | 3,157 | 3,752 | 4,061 | 3,847 | |||||
| Shareholders’ equity | (647) | (335) | (5) | 240 | 481 | 361 | 1,411 | 1,788 | 1,738 | 1,825 | |||||
| Returns, % | |||||||||||||||
| Returns, % | ROA | 13.99 | 15.91 | 16.50 | 9.49 | 7.16 | 4.81 | 18.93 | 10.45 | 4.84 | 3.93 | ||||
| ROIC | 18.83 | 18.18 | 18.09 | 14.41 | 12.19 | 10.83 | 12.07 | 12.02 | 7.17 | 6.51 | |||||
| ROE | 86.22 | (84.89) | (282.03) | 310.88 | 88.20 | 47.77 | 113.88 | 45.36 | 20.26 | 16.28 | |||||
Negative figures in brackets.
Fiscal years to May 2026 · latest quarter Aug 2026 · fundamentals updated 8 Oct 2026
Charts ten years each
Lamb Weston vs peers in Packaged Foods (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| MICC The Magnum Ice Cream Company N.V. | $11.3B | — | — | — | — | — | — | — | Compare |
| HRL Hormel Foods Corporation | $11.1B | 32.4× | 16.1× | −2.36% (below 0%: shrinking) | −66.67% (below 0%: shrinking) | +107.16% (above 0%: growing) | 15.92% | 2.49% | Compare |
| DAR Darling Ingredients Inc. | $9.6B | 16.3× | 13.8× | +16.37% (above 0%: growing) | +2,950.00% (above 0%: growing) | +428.22% (above 0%: growing) | 29.20% | 32.20% | Compare |
| LW Lamb Weston | $7.5B | 28.9× | 14.4× | +0.66% (above 0%: growing) | −54.02% (below 0%: shrinking) | −47.29% (below 0%: shrinking) | 15.96% | 4.92% | |
| SFD Smithfield Foods, Inc. | $7.3B | 6.9× | 10.0× | −2.27% (below 0%: shrinking) | +27.08% (above 0%: growing) | −1.54% (below 0%: shrinking) | 12.95% | 7.86% | Compare |
| PPC Pilgrim's Pride Corporation | $6.9B | 12.8× | 8.9× | −2.76% (below 0%: shrinking) | −96.00% (below 0%: shrinking) | −67.46% (below 0%: shrinking) | 7.34% | 1.43% | Compare |
| CAG Conagra Brands | $6.8B | — (loss-making) | 8.2× | −1.39% (below 0%: shrinking) | +6.97% (above 0%: growing) | −464.50% (below 0%: shrinking) | 23.83% | 10.34% | Compare |
| INGR Ingredion Incorporated | $6.1B | 10.5× | 9.5× | +0.93% (above 0%: growing) | −40.79% (below 0%: shrinking) | +34.38% (above 0%: growing) | 23.03% | 10.16% | Compare |
| CPB The Campbell's Company | $5.9B | 14.8× | 10.7× | −7.93% (below 0%: shrinking) | n/m | +5.43% (above 0%: growing) | 27.28% | 0.19% | Compare |
| Median of peers | $7.1B | 13.8× | 10.0× | −2.27% | −16.91% | +5.43% | 23.03% | 7.86% |
Lamb Weston (LW) key facts
- Concern: Net income was $290.0 million, or $2.09 per share (basic), a net margin of 4.39%.
- Strength: Lamb Weston’s revenue for fiscal 2026 (year ended May 2026) was $6.6 billion, up 2.50% from fiscal 2025.
- Lamb Weston (LW) is a Packaged Foods company in the Consumer Defensive sector, listed on the New York Stock Exchange.
- As of October 16, 2026, LW traded at $53.59, a market capitalization of $7.5 billion.
- At that price the stock trades at 28.9× trailing-twelve-month earnings and 1.1× sales; its P/E is higher than 75% of its own readings over the past ten years.
- Lamb Weston pays an annual dividend of $1.51 per share, a yield of 2.82%, with a payout ratio of 82.5%.
- Return on equity was 16.3% and debt-to-equity 2.17.
- Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 2.46 (grey zone) for fiscal 2026.