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Friday 6 November 2026
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Smithfield Foods, Inc.
SFD Consumer Defensive Packaged Foods
Smithfield Foods, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $15.5 billion, up 9.82% from fiscal 2024.
- Revenue
- −8.27%
- EPS
- −63.3%
- Free cash flow
- +160.0%
- Total debt
- 0.00%
Quarter to September 2026, against a year earlier
19.51
0.21
−1.06%
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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 | — | — | — | — | — | — | 16,199 | 14,640 | 14,142 | 15,531 | 15,164 | (1.4%) | 15,091 | 14,807 | 15,203 | (0.7%) | |
| Gross margin, % | — | — | — | — | — | — | 9.23 | 6.07 | 13.42 | 13.45 | 12.57 | +4.2 pt | ||||||
| EBT | — | — | — | — | — | — | 1,047 | (129) | 1,061 | 1,270 | 1,136 | +6.6% | ||||||
| EBT margin, % | — | — | — | — | — | — | 6.46 | (0.88) | 7.50 | 8.18 | 7.49 | +1.7 pt | ||||||
| Net income | — | — | — | — | — | — | 881 | 23 | 970 | 998 | 910 | +4.2% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 42.62 | 38.52 | 37.21 | 39.62 | 38.51 | (2.4%) | |||||
| Earnings | — | — | — | — | — | — | 2.32 | 0.06 | 2.51 | 2.52 | 2.30 | +2.8% | ||||||
| Cash flow | — | — | — | — | — | — | 1.37 | 1.81 | 2.41 | 2.70 | 3.31 | +25.4% | ||||||
| Capex | — | — | — | — | — | — | (0.87) | (0.35) | (0.66) | (0.83) | (0.92) | (1.3%) | ||||||
| Free cash flow | — | — | — | — | — | — | 0.50 | 1.46 | 1.75 | 1.87 | 2.39 | +54.9% | ||||||
| Book value | — | — | — | — | — | — | 0.00 | 19.05 | 15.35 | 17.35 | 17.81 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 380 | 380 | 380 | 392 | 393 | +1.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 7.78 | 7.78 | 7.78 | 8.90 | 8.48 | 8.1 | |||||
| P/S | — | — | — | — | — | — | 0.53 | 0.53 | 0.53 | 0.56 | 0.51 | 0.5 | ||||||
| P/B | — | — | — | — | — | — | 1.29 | 1.29 | 1.29 | 1.29 | 1.10 | 1.3 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.61 | 0.61 | 0.61 | 0.59 | 0.56 | 0.6 | ||||||
| EV/FCF | — | — | — | — | — | — | 12.88 | 12.88 | 12.88 | 12.59 | 9.04 | 12.8 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | 521 | 688 | 916 | 1,059 | 1,303 | +26.7% | |||||
| Capex | — | — | — | — | — | — | (330) | (134) | (251) | (327) | (362) | (0.3%) | ||||||
| Free cash flow | — | — | — | — | — | — | 191 | 554 | 665 | 732 | 941 | +56.5% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | — | 2,471 | 2,496 | 3,425 | 2,979 | +17.7% | |||||
| Net debt | — | — | — | — | — | — | — | 1,346 | 1,059 | 464 | 826 | (41.3%) | ||||||
| Shareholders’ equity | — | — | — | — | — | — | — | 7,241 | 5,834 | 6,801 | 7,015 | (3.1%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 17.59 | 0.15 | 7.82 | 8.50 | 7.60 | (9.1) pt | |||||
| ROIC | — | — | — | — | — | — | 0.00 | (0.41) | 10.14 | 11.11 | 9.17 | +11.1 pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | 0.28 | 14.58 | 15.62 | 13.35 | +15.6 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 37,417 | 34,000 | 34,500 | — | (4.0%) | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.39 | 0.42 | 0.45 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 2 Nov 2026
Business profile
Where the money comes from and where it goes Fiscal 2025
| Retail | 7,537 | 48.53% |
|---|---|---|
| Foodservice | 2,957 | 19.04% |
| Other / Unallocated | 1,780 | 11.46% |
| Exports | 1,753 | 11.29% |
| Industrial | 1,504 | 9.68% |
| Gross margin | 13.45% | |
| Operating margin | 8.32% | |
| Pre-tax margin | 8.18% |
Smithfield Foods, Inc. 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% | |
| 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% | Compare |
| 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 | $7.5B | 19.4× | 12.5× | −1.39% | −47.57% | +5.43% | 23.03% | 4.92% |
From the latest earnings call
- CEO Shane Smith attributed the decline in pork value-chain performance to softer domestic demand and global oversupply, while saying packaged meats increased volume and profit.
- Smith said a supply agreement with an existing joint venture partner will reduce internally produced hogs by roughly 900,000 per year.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
13.76%
Held by the ten largest
7.03%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| LSV ASSET MANAGEMENT | 7.11m | 1.81% | +4.83m |
| Two Sigma | 4.24m | 1.08% | +21.94k |
| AQR Capital Management | 4.11m | 1.04% | +3.00m |
| Fidelity (FMR) | 2.91m | 0.74% | −39.38k |
| Goldman Sachs | 2.28m | 0.58% | +1.85m |
| Dimensional Fund Advisors | 1.69m | 0.43% | +1.32m |
| Assenagon Asset Management S.A. | 1.56m | 0.40% | +1.56m |
| BlackRock | 1.37m | 0.35% | −476.43k |
| Qube Research & Technologies Ltd | 1.24m | 0.32% | −67.65k |
| UBS | 1.17m | 0.30% | +148.94k |
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.
Pay and ownership Proxy statement filed 20 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 19.34m | 15.90m | 119.00 |
| 2024 | 14.90m | 13.67m | 0.00 |
Ownership
Directors and executive officers, together
1.80%
SFDS UK Holdings Limited ...............
87.00%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Smithfield Foods, Inc. (SFD) Latest News
27 Oct
9 Oct
11 Aug
29 Apr
28 Apr
SFD 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
Smithfield Foods produces packaged meats and fresh pork, primarily in the United States. Founded in 1936, it is headquartered in Smithfield, Virginia, and led by chief executive C. Shane Smith. WH Group is its majority owner.
Its packaged products include bacon, sausage, hot dogs, deli and lunch meats, ham, pepperoni and prepared foods. Smithfield sells them under brands including Smithfield, Eckrich and Nathan’s Famous, as well as under retailers’ own labels. Its customers include grocery and club stores, restaurants and other foodservice businesses.