Friday 6 November 2026
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Pilgrim's Pride Corporation
PPC Consumer Defensive Packaged Foods
Pilgrim's Pride Corporation’s revenue for fiscal 2025 (year ended December 2025) was $18.5 billion, up 3.46% from fiscal 2024.
- Revenue
- −2.23%
- EPS
- −66.0%
- Free cash flow
- −101.2%
- Total debt
- +10.1%
Quarter to September 2026, against a year earlier
28.70
0.31
−1.07%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 9,879 | 10,768 | 10,938 | 11,409 | 12,092 | 14,777 | 17,468 | 17,362 | 17,878 | 18,498 | 18,330 | +7.2% | 18,385 | 18,895 | 19,437 | +1.7% | |
| Gross margin, % | 11.18 | 13.67 | 7.71 | 9.38 | 6.93 | 9.24 | 10.37 | 6.44 | 12.94 | 12.75 | 7.90 | +1.6 pt | ||||||
| EBT | 724 | 982 | 332 | 618 | 162 | 92 | 1,025 | 365 | 1,412 | 1,502 | 489 | +8.4% | ||||||
| EBT margin, % | 7.33 | 9.12 | 3.04 | 5.41 | 1.34 | 0.63 | 5.87 | 2.10 | 7.90 | 8.12 | 2.67 | +0.8 pt | ||||||
| Net income | 480 | 718 | 247 | 457 | 95 | 31 | 747 | 322 | 1,087 | 1,083 | 319 | +9.5% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 38.94 | 43.29 | 43.94 | 45.75 | 49.17 | 60.65 | 72.86 | 73.34 | 75.43 | 77.91 | 76.98 | +8.0% | |||||
| Earnings | 1.74 | 2.79 | 1.00 | 1.83 | 0.39 | 0.13 | 3.11 | 1.36 | 4.58 | 4.56 | 1.35 | +11.3% | ||||||
| Cash flow | 3.14 | 3.22 | 1.97 | 2.67 | 2.94 | 1.34 | 2.79 | 2.86 | 8.40 | 5.78 | 4.10 | +7.0% | ||||||
| Capex | (1.29) | (1.35) | (1.36) | (1.33) | (1.31) | (1.46) | (1.88) | (2.21) | (1.94) | (2.97) | (3.94) | +9.7% | ||||||
| Free cash flow | 1.84 | 1.87 | 0.61 | 1.34 | 1.63 | (0.13) | 0.91 | 0.65 | 6.45 | 2.81 | 0.15 | +4.8% | ||||||
| Book value | 8.22 | 7.46 | 8.11 | 10.17 | 10.47 | 10.63 | 11.90 | 14.13 | 17.95 | 15.56 | 16.33 | +7.3% | ||||||
| Shares, m | 254 | 249 | 249 | 249 | 246 | 244 | 240 | 237 | 237 | 237 | 238 | (0.7%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 11.21 | 10.78 | 15.51 | 17.88 | 50.28 | 216.92 | 7.73 | 20.88 | 9.89 | 8.55 | 21.26 | 37.0 | |||||
| P/S | 0.50 | 0.70 | 0.35 | 0.72 | 0.40 | 0.47 | 0.33 | 0.39 | 0.60 | 0.50 | 0.37 | 0.5 | ||||||
| P/B | 2.36 | 4.05 | 1.91 | 3.22 | 1.87 | 2.65 | 2.00 | 2.01 | 2.53 | 2.51 | 1.76 | 2.5 | ||||||
| EV/Sales | 0.61 | 0.89 | 0.53 | 0.89 | 0.54 | 0.65 | 0.48 | 0.54 | 0.67 | 0.63 | 0.51 | 0.6 | ||||||
| EV/FCF | 12.90 | 20.61 | 38.13 | 30.47 | 16.33 | (316.13) | 38.78 | 60.67 | 7.79 | 17.58 | 254.61 | (7.3) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | 795 | 801 | 492 | 667 | 724 | 326 | 670 | 678 | 1,990 | 1,372 | 975 | +6.2% | |||||
| Capex | (328) | (335) | (339) | (332) | (323) | (357) | (452) | (524) | (461) | (706) | (939) | +8.9% | ||||||
| Free cash flow | 468 | 466 | 153 | 334 | 401 | (30) | 218 | 154 | 1,529 | 666 | 37 | +4.0% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 625 | 1,064 | 938 | 950 | 965 | 915 | 1,321 | 1,709 | 2,568 | 1,347 | 1,577 | +8.9% | |||||
| Net debt | 1,114 | 2,094 | 1,964 | 2,022 | 1,733 | 2,767 | 2,758 | 2,610 | 1,154 | 2,454 | 2,469 | +9.2% | ||||||
| Shareholders’ equity | 2,086 | 1,856 | 2,020 | 2,536 | 2,575 | 2,589 | 2,853 | 3,345 | 4,253 | 3,694 | 3,888 | +6.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | 10.56 | 12.33 | 4.07 | 7.00 | 1.30 | 0.38 | 8.21 | 3.37 | 10.62 | 10.31 | 3.07 | (0.3) pt | |||||
| ROIC | 15.47 | 16.97 | 7.78 | 9.47 | 3.56 | 2.46 | 13.11 | 5.48 | 17.41 | 16.40 | 6.14 | +0.9 pt | ||||||
| ROE | 26.32 | 35.24 | 12.80 | 20.02 | 3.71 | 1.20 | 27.41 | 10.38 | 28.60 | 27.24 | 8.61 | +0.9 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 39,600 | 51,300 | 52,100 | 31,900 | 30,900 | 59,400 | 61,500 | 61,200 | 61,600 | 63,000 | — | +5.3% | |||||
| Revenue/emp, $m | 0.25 | 0.21 | 0.21 | 0.36 | 0.39 | 0.25 | 0.28 | 0.28 | 0.29 | 0.29 | — | +1.8% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| U.S. | 10,999 | 59.46% |
|---|---|---|
| Europe | 5,379 | 29.08% |
| Mexico | 2,120 | 11.46% |
| Gross margin | 12.75% | |
| Operating margin | 8.72% | |
| Pre-tax margin | 8.12% |
Pilgrim's Pride Corporation 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 |
|---|---|---|---|---|---|---|---|---|---|
| HRL Hormel Foods Corporation | $12.4B | 35.8× | 16.8× | −2.36% (below 0%: shrinking) | −66.67% (below 0%: shrinking) | +107.16% (above 0%: growing) | 15.92% | 2.49% | Compare |
| MICC The Magnum Ice Cream Company N.V. | $12.3B | — | — | — | — | — | — | — | Compare |
| DAR Darling Ingredients Inc. | $8.0B | 9.5× | 8.2× | +14.52% (above 0%: growing) | +1,323.67% (above 0%: growing) | +428.22% (above 0%: growing) | 26.66% | 18.61% | Compare |
| SFD Smithfield Foods, Inc. | $7.7B | 8.5× | 10.5× | −8.27% (below 0%: shrinking) | −63.32% (below 0%: shrinking) | +160.00% (above 0%: growing) | 9.11% | 3.70% | Compare |
| LW Lamb Weston | $7.6B | 29.9× | 20.3× | +0.66% (above 0%: growing) | −54.35% (below 0%: shrinking) | −47.29% (below 0%: shrinking) | 15.96% | 4.92% | Compare |
| CAG Conagra Brands | $7.4B | — (loss-making) | 10.2× | −1.39% (below 0%: shrinking) | +5.88% (above 0%: growing) | −464.50% (below 0%: shrinking) | 23.83% | 10.34% | Compare |
| CPB The Campbell's Company | $7.0B | 17.5× | 12.5× | −7.93% (below 0%: shrinking) | n/m | +5.43% (above 0%: growing) | 27.28% | 0.19% | Compare |
| PPC Pilgrim's Pride Corporation | $6.8B | 21.3× | 20.3× | −2.23% (below 0%: shrinking) | −65.97% (below 0%: shrinking) | −101.15% (below 0%: shrinking) | 7.17% | 4.12% | |
| INGR Ingredion Incorporated | $6.1B | 10.4× | 10.3× | +0.93% (above 0%: growing) | −40.79% (below 0%: shrinking) | +34.38% (above 0%: growing) | 23.03% | 10.16% | Compare |
| Median of peers | $7.7B | 14.0× | 10.5× | −1.39% | −47.57% | +34.38% | 23.03% | 4.92% |
From the latest earnings call
- CEO Fabio Sandri said chicken supply rose faster than demand, while prepared foods volume grew over 15% from a year earlier.
- CFO Matt Galvanoni said lower chicken prices and higher grain costs weighed on U.S. fresh results, despite improvements in yields and live operations.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
20.63%
Held by the ten largest
12.68%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 5.43m | 2.28% | −446.80k |
| BlackRock | 4.94m | 2.08% | +335.49k |
| Dimensional Fund Advisors | 4.80m | 2.02% | +968.86k |
| D. E. Shaw | 4.70m | 1.97% | +1.12m |
| AQR Capital Management | 2.16m | 0.91% | −523.95k |
| Goldman Sachs | 1.91m | 0.80% | +373.80k |
| Carrhae Capital LLP | 1.86m | 0.78% | +1.86m |
| Morgan Stanley | 1.54m | 0.65% | +256.58k |
| State Street | 1.48m | 0.62% | −228.77k |
| VanEck | 1.37m | 0.57% | +1.20m |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pilgrim's Pride Corporation (PPC) Latest News
29 Oct
28 Oct
21 Oct
9 Oct
PPC metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Pilgrim’s Pride produces, processes, markets and distributes chicken and pork products. It sells fresh, frozen and prepared foods to grocery retailers, restaurant chains, distributors and food processors. Its products range from whole chickens and packaged cuts to nuggets, sausages, bacon and ready-to-cook meats.
The company operates in the United States, Europe and Mexico. Its European operations also sell pork and lamb products, while its Mexican business includes sales of live chickens. Products reach customers through retail, foodservice and export channels. Retail customers sell food to households; foodservice customers include restaurants and distributors serving institutions.