Hormel Foods (HRL) FY2021 results: revenue $11.4 billion, up 18.5% on the year
Hormel Foods Corp. (HRL) reported revenue of $11.4 billion for fiscal 2021, the year ended 31 October 2021, up 18.5% on the year before. Net income was $909 million, up 0.1%, and diluted earnings per share $1.66. The figures are the company's own, from the 10-K it filed with the SEC on 10 December 2021.
Revenue
$11.4 billion
+18.5% on the year
FY2014FY2021
Operating margin
9.9%
11.5% a year earlier
FY2014FY2021
Net income
$909 million
+0.1% on the year
FY2014FY2021
Diluted EPS
$1.66
0.0% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree 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.
Cash flow
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
1,002
1,128
923
-11.2%
Capital expenditure
232
368
294
-36.8%
Free cash flow
770
761
629
+1.2%
Free cash flow margin
6.8%
7.9%
6.6%
Cash from investing
-3,626
-656
220
Cash from financing
1,521
566
-926
+168.6%
Depreciation and amortisation
209
206
165
+1.7%
Share-based compensation
24.7
22.5
19.7
+10.2%
Buybacks
20.0
12.4
174
+61.5%
Dividends paid
523
487
437
+7.3%
Dividend per share
$0.98
$0.93
$0.84
+5.4%
Diluted shares, weighted
548m
547m
545m
+0.2%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
6,973
6,426
5,921
+8.5%
Non-controlling interest
5.5
4.8
4.1
+14.7%
Debt
3,324
1,304
250
+155.0%
Operating lease liabilities
56.8
43.1
n/a
+31.7%
Finance lease liabilities
44.6
52.7
n/a
-15.3%
Other liabilities
2,293
2,078
1,933
+10.3%
Total liabilities and equity
12,696
9,908
8,109
+28.1%
Fixed assets
n/a
n/a
1,629
Goodwill
4,929
2,613
2,482
+88.7%
Intangible assets
1,822
1,076
1,034
+69.3%
Investments
21.2
17.3
14.7
+22.1%
Cash and equivalents
614
1,714
673
-64.2%
Receivables
896
702
574
+27.5%
Inventory
1,369
1,073
1,042
+27.6%
Other assets
3,045
2,712
660
+12.3%
Total assets
12,696
9,908
8,109
+28.1%
10-K for the year ended 31 October 2021, filed 10 December 2021: the filing.