Hormel Foods Corp. (HRL)

Name: Hormel Foods Corp. (HRL): results, filings decoded, planned insider sales, 13F holders, insiders, Congress and short interest
Creator: GreekSoup
License: https://creativecommons.org/licenses/by/4.0/

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Hormel Foods Corp. (HRL) reported revenue of $3.0 billion for Q3 FY2026, the quarter ended 26 July 2026, down 2.4% on the same quarter a year earlier. Net income was $60 million, down 67.6% on the year, and diluted earnings per share $0.11. The figures are the company's own, from the 10-Q it filed with the SEC on 27 August 2026.

Revenue$3.0 billiondown 2.4%

Net income$60 milliondown 67.6%

Diluted EPS$0.11

QuarterQ3 FY2026ended 26 July 2026

Ratios

From the filings

ROE4.4%

ROCE5.6%

Operating margin4.7%

Net margin2.8%

FCF margin6.4%

Interest cover7.28

Debt to equity0.30

Cash conversion3.19

Share count, 1 yearn/a

Sales CAGR, 3 years-1.0%

Profit CAGR, 3 years-21.8%

EPS, TTM$0.63

At the close of 21 September 2026

Price$20.46

Market cap$11.3 billion

Stock P/E32.48

Price to book1.44

EV / EBITDA15.12

Dividend yield5.7%

Market cap / sales0.93

52-week high$26.51

52-week low$19.74

Price, 1 year-17.6%

Price CAGR, 3 years-19.3%

Price CAGR, 5 years-12.9%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on long-term debt as Hormel Foods Corp. files it, with lease liabilities counted separately and never inside it. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

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50-day average 200-day average Volume

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on HRL

Filings	27 in twelve months: 13 current reports (8-K), about 7 officer or director change; 6 results of operations; 1 shareholder vote; 1 exit or disposal costs; 1 regulation fd disclosure
Planned insider sales	2 Form 144 notices in twelve months, $817,308; latest 8 July 2026
Options tape	put/call 1.23 by open interest on 23 September 2026; the straddle prices a 2.5% move to 25 September 2026
Holders	10 of the followed funds hold it; largest Two Sigma Investments; 2 Schedule 13D or 13G filings in twelve months
Insider trading	2 sales and 0 purchases on Form 4 in twelve months
Congress	1 House trade disclosed in six months
Short interest	20.7 million shares short, 3.06 days to cover at 31 August 2026
Documents	the 10-K, the 10-Qs, the proxy and 6 earnings press releases, each linked

Quarterly results, the last 12 quarters

	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	3,198	2,997	2,887	2,898	3,138	2,989	2,899	3,033	3,186	3,027	2,973	2,961
Cost of revenue	2,684	2,488	2,384	2,410	2,617	2,514	2,414	2,546	2,741	2,558	2,454	2,490
Gross profit	514	509	504	488	521	475	484	487	445	470	519	472
Gross margin	16%	17%	17%	17%	17%	16%	17%	16%	14%	16%	17%	16%
SG&A	217	240	267	260	239	263	251	259	223	242	319	324
Operating income	270	284	252	237	294	228	248	240	2.2	244	217	111
Operating margin	8%	9%	9%	8%	9%	8%	9%	8%	0%	8%	7%	4%
Interest expense	18.4	18.3	21.7	21.5	19.4	19.5	19.5	19.5	19.6	19.7	19.8	19.6
Pre-tax income	246	286	244	226	280	218	230	237	-21.6	234	206	103
Tax rate	20%	23%	22%	22%	21%	22%	22%	22%	n/a	22%	24%	42%
Net income	196	219	189	177	220	171	180	184	-56.1	182	157	59.6
Net margin	6%	7%	7%	6%	7%	6%	6%	6%	-2%	6%	5%	2%
Diluted EPS	$0.35	$0.40	$0.34	$0.32	$0.41	$0.31	$0.33	$0.33	-$0.10	$0.33	$0.29	$0.11
Operating cash flow	319	404	236	218	409	309	56.4	157	323	349	179	241
Capital expenditure	102	47.2	60.0	65.5	83.8	72.2	75.1	72.2	91.5	69.0	82.2	68.2
Free cash flow	217	357	176	153	325	237	-18.6	84.5	231	280	96.8	172
Buybacks	n/a	n/a	n/a	0.0	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Dividends paid	150	150	155	155	155	155	159	159	160	160	161	161
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

	FY2014 †	FY2015	FY2016 †	FY2017 †	FY2018 †	FY2019	FY2020	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Revenue	9,316	9,264	9,523	9,168	9,546	9,497	9,608	11,386	12,459	12,110	11,921	12,106	12,147
Cost of revenue	7,751	7,455	7,365	7,164	7,566	7,613	7,782	9,458	10,294	10,110	9,899	10,214	10,242
Gross profit	1,565	1,809	2,158	1,997	1,979	1,885	1,826	1,928	2,165	2,000	2,022	1,892	1,904
Gross margin	16.8%	19.5%	22.7%	21.8%	20.7%	19.8%	19.0%	16.9%	17.4%	16.5%	17.0%	15.6%	15.7%
Research and development	29.9	32.0	34.7	34.2	33.8	32.5	31.9	33.6	34.7	33.7	36.1	35.2	n/a
Selling, general and administrative	651	744	872	759	841	728	761	853	879	942	1,005	997	1,107
Operating income	932	1,067	1,324	1,277	1,180	1,196	1,100	1,123	1,313	1,072	1,068	719	574
Operating margin	10.0%	11.5%	13.9%	13.9%	12.4%	12.6%	11.5%	9.9%	10.5%	8.9%	9.0%	5.9%	4.7%
Interest expense	12.7	13.1	12.9	12.7	26.5	18.1	21.1	43.3	62.5	73.4	80.9	78.0	78.8
Pre-tax income	922	1,057	1,317	1,279	1,181	1,210	1,115	1,126	1,278	1,013	1,035	663	522
Income tax	316	370	427	432	169	231	206	217	278	221	231	186	179
Effective tax rate	34.3%	35.0%	32.4%	33.7%	14.3%	19.1%	18.5%	19.3%	21.7%	21.8%	22.3%	28.0%	34.4%
Net income	603	686	890	847	1,012	979	908	909	1,000	794	805	478	343
Net margin	6.5%	7.4%	9.3%	9.2%	10.6%	10.3%	9.5%	8.0%	8.0%	6.6%	6.8%	4.0%	2.8%
Diluted EPS	$2.23	$2.54	$1.64	$1.57	$1.86	$1.80	$1.66	$1.66	$1.82	$1.45	$1.47	$0.87	$0.63
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

	FY2014 †	FY2015	FY2016 †	FY2017 †	FY2018 †	FY2019	FY2020	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Operating cash flow	n/a	992	1,040	1,034	1,242	923	1,128	1,002	1,135	1,048	1,267	845	1,092
Capital expenditure	159	144	256	221	390	294	368	232	279	270	256	311	311
Free cash flow	n/a	848	784	813	852	629	761	770	856	778	1,010	534	781
Free cash flow margin	n/a	9.2%	8.2%	8.9%	8.9%	6.6%	7.9%	6.8%	6.9%	6.4%	8.5%	4.4%	6.4%
Depreciation and amortisation	130	133	132	131	162	165	206	209	236	253	258	264	272
Share-based compensation	14.4	15.7	17.8	15.6	20.6	19.7	22.5	24.7	24.9	24.1	23.2	25.6	25.5
Buybacks	58.9	24.9	87.9	94.5	46.9	174	12.4	20.0	0.0	12.3	0.0	0.0	n/a
Dividends paid	203	251	296	346	388	437	487	523	558	593	615	633	641
Dividend per share	$0.80	$1.00	$0.58	$0.68	$0.75	$0.84	$0.93	$0.98	$1.04	$1.10	$1.13	$1.16	n/a
Diluted shares, weighted	270m	271m	542m	539m	544m	545m	547m	548m	550m	549m	549m	550m	551m
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

	FY2014 †	FY2015	FY2016 †	FY2017 †	FY2018 †	FY2019	FY2020	FY2021 †	FY2022 †	FY2023	FY2024	FY2025	TTM
Total assets	5,456	6,140	6,976	6,976	8,142	8,109	9,908	12,696	13,307	13,449	13,435	13,393	13,292
Cash and equivalents	334	347	415	444	459	673	1,714	614	982	737	742	671	840
Receivables	610	606	591	618	600	574	702	896	868	817	818	785	n/a
Inventory	1,055	993	986	921	964	1,042	1,073	1,369	1,716	1,680	1,576	1,747	1,802
Goodwill	1,226	1,699	1,834	2,120	2,714	2,482	2,613	4,929	4,926	4,928	4,923	4,924	4,868
Long-term debt	250	250	250	250	625	250	1,045	3,315	3,291	2,359	2,851	2,851	2,349
Long-term debt including finance leases	n/a	n/a	n/a	n/a	n/a	250	1,045	3,315	3,291	2,359	2,851	2,851	2,349
Operating lease liabilities	n/a	n/a	n/a	n/a	n/a	n/a	43.1	56.8	55.6	109	121	133	n/a
Finance lease liabilities	n/a	n/a	n/a	n/a	n/a	n/a	52.7	44.6	36.1	27.5	20.2	17.0	n/a
Shareholders' equity	3,606	3,998	4,448	4,936	5,601	5,921	6,426	6,973	7,535	7,735	7,993	7,901	7,843
Filing	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K	10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

	10 years	5 years	3 years	TTM
Sales growth, compounded	2.7%	4.7%	-1.0%	0.7%
Profit growth, compounded	-3.5%	-12.0%	-21.8%	-54.6%
Return on equity, average	13.9%	10.5%	8.8%	6.1%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Filings

Filing	Period	Filed	Where
10-Q	26 July 2026	27 August 2026	EDGAR
10-Q	26 April 2026	28 May 2026	EDGAR
10-Q	25 January 2026	26 February 2026	EDGAR
10-K	26 October 2025	5 December 2025	EDGAR
10-Q	27 July 2025	28 August 2025	EDGAR
10-Q	27 April 2025	29 May 2025	EDGAR
10-Q	26 January 2025	27 February 2025	EDGAR
10-K	27 October 2024	5 December 2024	EDGAR
10-Q	28 July 2024	4 September 2024	EDGAR
10-Q	28 April 2024	30 May 2024	EDGAR

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