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Cal-maine Foods Inc (CALM) stock

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NASDAQ: CALM Nasdaq Packaged Foods & Meats Next results ~January 6, 2027

C Fundamentals grade

Cal-maine Foods Inc is a US-listed company in the packaged foods & meats industry. Its financial year ends in May.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$150

Cash-flow model

Base case. Range ~$120–$200 across our lower- and higher-growth cases (-1%–9% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 129% above it.

Price used: $66.04, November 2, 2026

Cal-maine Foods Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds242 adding, 217 cuttingOf 52 active managers that changed their stake, 28 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Cal-maine Foods files

Where Cal-maine Foods stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $2.53bn, down 42.5% on a year earlier, a steeper fall than the 31.7% decline a quarter earlier. That puts it 23 of 23 for growth among the packaged foods & meats companies we cover. Free-cash-flow margin fell to -1.3% from 27.6% a year earlier. Operating margin narrowed to 0.7% from 36.3%. The diluted share count is down 2.9% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $151 a share, against a share price of $62.92.

Source: 10-Q filed September 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~January 6, 2027 (estimated)

Cal-maine Foods Inc's trailing-twelve-month revenue fell 42.5% year on year, with a free-cash-flow margin of -1.3%. Where it stands out: change in share count of -2.9% ranks 4 of 40 packaged foods & meats companies we cover. Where it lags: revenue growth of -42.5% ranks 44 of 44 packaged foods & meats companies we cover.

Our discounted-cash-flow model values the business at ~$150 per share in the base case (~$120–$200 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth decelerating: TTM revenue growth slowed to -42.5% (-10.8pp vs the prior quarter), the 5th consecutive quarterly slowdown.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $66.04 is 129% below our value per share of $150.
  • Shrinking share count. Diluted shares fell 2.9% in a year, so each share owns more of the business.

Things to watch

  • Revenue shrinking. Revenue fell 42.5% over the last 12 months.
  • Growth slowing. The growth rate is 10.8 points lower than a quarter earlier.
  • Margins narrowing. Operating margin is down 35.6 points on a year ago.
  • Burning cash. Free cash flow was -1.3% of revenue over the last 12 months.
  • High earnings multiple. The shares trade at 53 times the last 12 months' earnings, so expectations are demanding.
  • Gross margin slipping. Gross margin is down 29.3 points on a year ago.

Latest results: FY2027 Q1

Filed September 30, 2026
Earnings per share
-$1.24 against an average estimate of -$0.76: missed by 63.2%
Revenue
$540m, down 41.5% on a year earlier
Share reaction
-4.0% in the first session after the results on September 30, 2026, against 0.0% for the S&P 500
Guidance given
prepared Foods production capacity increase growth 60% (first half of fiscal 2028)
Next report
January 6, 2027; average EPS estimate -$1.00

Cal-maine Foods' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+3.9%
  • 1 week+6.0%
  • 1 month-0.9%
  • This year-15.9%
  • 1 year-23.8%
  • 5 years+130.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$2.5B
Operating margin
0.7%
Net margin
2.3%
EPS (TTM, diluted)
$1.24

Growth

Revenue growth
−42.5%
Change in growth rate
−10.8 pts
Share count change
−2.9%

Cash

Free cash flow (TTM)
-$32.8M
FCF margin
-1.3%
Stock pay % of revenue
0.2%

Earnings

Last results
September 30, 2026
Next results (est.)
January 6, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Shareholder vote
  2. Results
  3. Guidance
  4. Agreement
  5. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Cal-maine Foods Inc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 13.9% a year for five years.That is slower than the 7.3% a year revenue growth Cal-maine Foods has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in-13.9%
  • Last 12 months-42.5%
  • 3 years a year-5.0%
  • 5 years a year7.3%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($64.75, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Buy12-month view
12-month price target
~$150
Price used
$64.75close November 3, 2026
Implied change
▲ +134%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Cal-maine Foods Inc's free cash flow after stock-based pay with after-tax interest added back ($346M, FY2027 Q1 TTM), growing -1.1% and 5.7% in the next two years (forecasts, guidance and its record), then back to 4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$120–~$200 ; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Cal-maine Foods Inc's free cash flow after stock-based pay ( $346M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Cal-maine Foods Inc as an operating company, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.44 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$150 ~$120–$200 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$10 ~$15–$35 Left out: out of range vs price (0.16x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$480 ~$340–$730 Left out: out of range vs price (7.33x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$380 ~$300–$500 Left out: out of range vs price (5.72x)
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$150 ~$120–$200 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Cal-maine Foods Inc with Packaged Foods & Meats in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $123$161$212$279$366$478
8.5% $98$126$162$210$272$352
10% $83$104$132$169$216$277

Valuation multiples over time Market data may be delayed

At fiscal year end 20162017201820192020202120222023202420252026Now
Share price$34.66$29.21$35.47$28.62$34.45$27.01$37.35$40.57$54.53$91.16$74.72$66.04
Market value$1.7bn$1.4bn$1.7bn$1.4bn$1.7bn$1.3bn$1.8bn$2.0bn$2.7bn$4.5bn$3.6bn$3.1bn
+ Net debt (− = net cash)−$3m−$7m−$42m−$67m−$78m−$57m−$59m−$293m−$238m−$499m−$107m−$114m
Enterprise value$1.7bn$1.4bn$1.7bn$1.3bn$1.6bn$1.3bn$1.8bn$1.7bn$2.4bn$4.0bn$3.5bn$3.0bn
Multiples
Price / sales 0.9x1.3x1.1x1.0x1.2x1.0x1.0x0.6x1.1x1.0x1.2x1.2x
Price / earnings 5.3x—13.6x25.6x91.0xn/m13.7x2.6x9.6x3.7x11.3x53.2x
Price / free cash flow 5.4x—9.5x29.5x——33.8x2.7x8.8x4.2x10.9x—
EV / EBITDA 3.2x—10.8x13.2x26.9x37.8x8.3x1.6x6.2x2.4x7.3x20.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

28 /100

Weak moat

How hard Cal-maine Foods's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 2 / 20

    Cash operating profit has been a median 3.6% of total assets over 10 years.

  • Pricing power 0 / 20

    Gross margin has been a median 19.8%, moving by 11.5 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 5.7%; its worst year was -9.9%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 5 of 10 years, at a median 5.3% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 2.9% over five years; stock-based pay has been a median 0.2% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: January 6, 2027, before the open. Analysts expect revenue of $576m and EPS of −$1.00 (range −$1.32 to −$0.69) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.98 −146% $2.3bn −20%
Next $1.01 +134% $2.6bn +12%

Next year's EPS estimate has moved −71.8% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −303.1% on 90 days ago. In the last 30 days, 0 analysts raised Cal-maine Foods Inc's forecast and 2 cut it.

Consensus EPS forecast Cal-maine Foods Inc, last 90 days
−$4.00 −$2.00 $0.00 $2.00 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $1.47 Current fiscal year, 60 days ago: $1.44 Current fiscal year, 30 days ago: −$0.97 Current fiscal year, 7 days ago: −$2.98 Current fiscal year, Now: −$2.98 −$2.98 Next fiscal year, 90 days ago: $3.60 Next fiscal year, 60 days ago: $3.58 Next fiscal year, 30 days ago: $2.21 Next fiscal year, 7 days ago: $1.01 Next fiscal year, Now: $1.01 $1.01

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $1.47$3.60
60 days ago $1.44$3.58
30 days ago −$0.97$2.21
7 days ago −$2.98$1.01
Now −$2.98$1.01

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 −$0.76 −$1.24 −63.2%
May 2026 $0.11 −$0.77 −804.2%
Feb 2026 $0.78 $1.06 +36.5%
Nov 2025 $2.00 $2.14 +6.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, September 30, 2026
  • Prepared Foods production capacity increase first half of fiscal 2028 about 60% growth
    “which are expected to increase Prepared Foods production capacity more than 60% by the first half of fiscal 2028, compared to fiscal 2026 year-end” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Cal-maine Foods Inc's revenue by -1.1% next year and +5.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-5.2%, weight 56%) and the company's own record (+4.0%, weight 44%) . How the weights are set.

Analyst recommendations

4 analysts, Nov 2026
Buy00%
Hold4100%
Sell00%

Monthly trend

  1. Nov 202644
  2. Oct 202644

Counts of recommendations published by analysts covering Cal-maine Foods Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
15.8%
of tradable shares
Days to cover
4.2
at average volume
Short interest, 1 month
+23%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
9.9%
of shares
Employees
4,762
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −23.8%

$86.64 on October 31, 2025 to $66.04

ThenNowEffect
Revenue (last 12 months) $4.4bn $2.5bn −42.5%
Net margin 28.9% 2.3% −92.0%
P/E multiple 3.3x 53.2x +1499.8%
Share count 49m 47m +3.0%

Biggest factor: p/e multiple.

Last 3 years +53.7%

$42.95 on November 3, 2023 to $66.04

ThenNowEffect
Revenue (last 12 months) $2.9bn $2.5bn −14.2%
Net margin 21.5% 2.3% −89.2%
P/E multiple 3.3x 53.2x +1508.3%
Share count 49m 47m +3.1%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CALM−1%+52%+15%+87%−16%−16%
Industry peers (median)+9%−4%−5%−2%−19%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CALM42%75%67%75%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CALM−21%−24%−26%−11%−31%−35%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 47% from August 27, 2025 to October 21, 2026. Getting back needed a 87% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$60.61 – $93.50
From 52-week high
−29.4%
vs 50-day average
−5.1%
vs 200-day average
−15.6%
Volatility (1 year)
30%
Beta vs S&P 500
-0.23

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
5 up, 7 down
typical move ±2.9%
After a week
7 up, 5 down
typical move ±6.5%
After a month
7 up, 5 down
typical move ±6.9%
Results releasedNext dayS&P 500 next day5 days21 days
September 30, 2026 −4.0% 0.0% −8.5% −9.5%
July 22, 2026 +1.0% −1.3% +7.2% −5.5%
April 1, 2026 −1.3% +0.8% −1.8% −3.2%
January 7, 2026 −4.6% −0.3% −6.8% +5.3%
October 1, 2025 −1.6% +0.5% −2.1% −6.2%
July 22, 2025 +12.2% +0.9% +1.9% +10.0%
April 8, 2025 −0.9% +8.8% +3.3% +0.7%
January 7, 2025 0.0% −1.0% +7.4% +4.8%
October 1, 2024 +0.8% −0.9% +16.8% +20.3%
July 23, 2024 +3.7% −2.4% +11.3% +12.7%
April 2, 2024 +4.3% −0.5% +6.7% −4.0%
January 3, 2024 −0.7% −1.1% −3.8% +0.7%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Cal-maine Foods Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Options look rich

Option prices imply clearly more movement than the shares have shown. That strengthens the case for selling options.

  • Implied is 1.49× the last 60 days’ realised volatility , richer than 92% of the 229 stocks we screen today.
  • Why: implied is 1.49x 60-day realised, above 1-year realised, and in the top 20% of our coverage today.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: fundamentals grade C (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Cal-maine Foods Inc in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Cal-maine Foods Inc
$2B $3B $4B $5B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $2.7B Revenue (TTM), FY24 Q3: $2.4B Revenue (TTM), FY24 Q4: $2.3B Revenue (TTM), FY25 Q1: $2.7B Revenue (TTM), FY25 Q2: $3.1B Revenue (TTM), FY25 Q3: $3.8B Revenue (TTM), FY25 Q4: $4.3B Revenue (TTM), FY26 Q1: $4.4B Revenue (TTM), FY26 Q2: $4.2B Revenue (TTM), FY26 Q3: $3.5B Revenue (TTM), FY26 Q4: $2.9B Revenue (TTM), FY27 Q1: $2.5B $2.5B

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $2.7B
FY24 Q3 $2.4B
FY24 Q4 $2.3B
FY25 Q1 $2.7B
FY25 Q2 $3.1B
FY25 Q3 $3.8B
FY25 Q4 $4.3B
FY26 Q1 $4.4B
FY26 Q2 $4.2B
FY26 Q3 $3.5B
FY26 Q4 $2.9B
FY27 Q1 $2.5B
Revenue growth, TTM YoY Cal-maine Foods Inc
-50% 0% 50% 100% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 5.5% Revenue growth, TTM YoY, FY24 Q3: -22.2% Revenue growth, TTM YoY, FY24 Q4: -26.1% Revenue growth, TTM YoY, FY25 Q1: -10.0% Revenue growth, TTM YoY, FY25 Q2: 15.6% Revenue growth, TTM YoY, FY25 Q3: 60.0% Revenue growth, TTM YoY, FY25 Q4: 83.2% Revenue growth, TTM YoY, FY26 Q1: 65.8% Revenue growth, TTM YoY, FY26 Q2: 36.6% Revenue growth, TTM YoY, FY26 Q3: -8.9% Revenue growth, TTM YoY, FY26 Q4: -31.7% Revenue growth, TTM YoY, FY27 Q1: -42.5% -42.5%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 5.5%
FY24 Q3 -22.2%
FY24 Q4 -26.1%
FY25 Q1 -10.0%
FY25 Q2 15.6%
FY25 Q3 60.0%
FY25 Q4 83.2%
FY26 Q1 65.8%
FY26 Q2 36.6%
FY26 Q3 -8.9%
FY26 Q4 -31.7%
FY27 Q1 -42.5%
Operating margin (TTM) Cal-maine Foods Inc
0% 10% 20% 30% 40% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 20.7% Operating margin (TTM), FY24 Q3: 12.9% Operating margin (TTM), FY24 Q4: 13.4% Operating margin (TTM), FY25 Q1: 19.1% Operating margin (TTM), FY25 Q2: 25.0% Operating margin (TTM), FY25 Q3: 32.7% Operating margin (TTM), FY25 Q4: 36.1% Operating margin (TTM), FY26 Q1: 36.3% Operating margin (TTM), FY26 Q2: 34.3% Operating margin (TTM), FY26 Q3: 24.4% Operating margin (TTM), FY26 Q4: 12.0% Operating margin (TTM), FY27 Q1: 0.7% 0.7%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 20.7%
FY24 Q3 12.9%
FY24 Q4 13.4%
FY25 Q1 19.1%
FY25 Q2 25.0%
FY25 Q3 32.7%
FY25 Q4 36.1%
FY26 Q1 36.3%
FY26 Q2 34.3%
FY26 Q3 24.4%
FY26 Q4 12.0%
FY27 Q1 0.7%
FCF margin (TTM) Cal-maine Foods Inc
-10% 0% 10% 20% 30% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 16.8% FCF margin (TTM), FY24 Q3: 10.4% FCF margin (TTM), FY24 Q4: 13.1% FCF margin (TTM), FY25 Q1: 14.7% FCF margin (TTM), FY25 Q2: 15.3% FCF margin (TTM), FY25 Q3: 22.6% FCF margin (TTM), FY25 Q4: 25.0% FCF margin (TTM), FY26 Q1: 27.6% FCF margin (TTM), FY26 Q2: 27.8% FCF margin (TTM), FY26 Q3: 20.8% FCF margin (TTM), FY26 Q4: 11.3% FCF margin (TTM), FY27 Q1: -1.3% -1.3%

Source: SEC EDGAR filings. Retrieved October 26, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 16.8%
FY24 Q3 10.4%
FY24 Q4 13.1%
FY25 Q1 14.7%
FY25 Q2 15.3%
FY25 Q3 22.6%
FY25 Q4 25.0%
FY26 Q1 27.6%
FY26 Q2 27.8%
FY26 Q3 20.8%
FY26 Q4 11.3%
FY27 Q1 -1.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Cal-maine Foods took in during FY2026, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $2.9B
  2. Other income $59.4M · 2.0%
  3. Cost of revenue $2.2B · 76.9%
  4. Gross profit $672M · 23.1%
  5. Selling, general and admin $329M · 11.3%
  6. Operating income $350M · 12.0%
  7. Income tax $92.9M · 3.2%
  8. Net income $317M · 10.9%

Shares of revenue. Source: Cal-maine Foods's 10-K for FY2026, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 May 2010 2011 May 2011 2012 Jun 2012 2013 Jun 2013 2014 May 2014 2015 May 2015 2016 May 2016 2017 Jun 2017 2018 Jun 2018 2019 Jun 2019 2020 May 2020 2021 May 2021 2022 May 2022 2023 Jun 2023 2024 Jun 2024 2025 May 2025 2026 May 2026 LTM Aug 2026
Income
Revenue 910 942 1,113 1,288 1,441 1,576 1,909 1,075 1,503 1,361 1,352 1,349 1,777 3,146 2,326 4,262 2,912 2,529
Gross profit 195 185 202 215 303 396 648 46 361 223 180 161 337 1,196 542 1,851 672 361
EBITDA 134 114 119 94 183 275 516 −85 155 100 59 33 212 1,040 393 1,631 475 147
Operating income 103 83 89 60 146 235 472 −134 101 46 1 −26 144 968 312 1,537 350 19
Net income 68 61 90 50 109 161 316 −74 126 54 18 2 133 758 278 1,220 317 59
Diluted EPS $1.42 $1.27 $1.88 $1.05 $2.26 $3.33 $6.53 −$1.54 $2.60 $1.12 $0.38 $0.04 $2.72 $15.52 $5.69 $24.95 $6.63 $1.24
Growth (year on year)
Revenue — +3.5% +18.2% +15.7% +11.9% +9.4% +21.1% −43.7% +39.9% −9.4% −0.7% −0.2% +31.7% +77.0% −26.1% +83.2% −31.7% −42.5%
EBITDA — −15.0% +4.5% −21.5% +95.4% +50.3% +87.5% −116.5% — −35.0% −40.9% −44.1% +538.1% +390.7% −62.2% +315.2% −70.9% −91.4%
Operating income — −18.6% +6.2% −32.8% +145.1% +60.7% +101.0% −128.4% — −54.4% −97.2% — — +574.2% −67.7% +391.8% −77.2% −98.8%
Net income — −10.3% +47.5% −43.8% +116.6% +47.7% +96.0% −123.5% — −56.9% −66.1% — — +471.4% −63.3% +339.0% −74.0% −95.4%
Diluted EPS — −10.6% +47.6% −44.0% +115.2% +47.3% +96.1% −123.6% — −56.9% −66.1% — — +470.6% −63.3% +338.5% −73.4% −95.2%
Margins
Gross margin 21.4% 19.6% 18.1% 16.7% 21.0% 25.1% 34.0% 4.2% 24.0% 16.4% 13.3% 11.9% 19.0% 38.0% 23.3% 43.4% 23.1% 14.3%
EBITDA margin 14.8% 12.1% 10.7% 7.3% 12.7% 17.5% 27.1% −7.9% 10.3% 7.4% 4.4% 2.5% 11.9% 33.1% 16.9% 38.3% 16.3% 5.8%
Operating margin 11.3% 8.9% 8.0% 4.6% 10.1% 14.9% 24.7% −12.5% 6.7% 3.4% 0.1% −1.9% 8.1% 30.8% 13.4% 36.1% 12.0% 0.7%
Net margin 7.5% 6.5% 8.1% 3.9% 7.6% 10.2% 16.6% −6.9% 8.4% 4.0% 1.4% 0.2% 7.5% 24.1% 11.9% 28.6% 10.9% 2.3%
Free-cash-flow margin 10.5% 4.4% 6.4% 2.4% 4.5% 7.2% 16.4% −10.5% 12.0% 3.5% −3.7% −5.1% 3.0% 23.1% 13.1% 25.0% 11.3% −1.3%
Cash flow
Cash from operations 117 62 98 58 124 195 388 −46 200 115 74 26 126 863 451 1,225 480 100
Capital spending 21 21 27 26 59 82 76 67 20 68 124 95 72 137 147 161 151 133
Free cash flow 96 42 71 31 65 113 312 −113 181 47 −51 −69 54 726 304 1,063 329 −33
Stock-based pay 0 0 0 0 1 2 2 3 4 4 4 4 4 4 4 5 6 —
Free cash flow after stock pay 96 41 71 31 63 111 311 −116 177 43 −54 −73 50 722 300 1,059 323 —
Balance sheet
Cash 99 58 97 25 15 9 29 18 48 69 78 57 59 293 238 499 107 114
Total debt 0 88 76 65 61 51 26 11 6 3 — 0 0 0 0 0 0 0
Net debt (negative = net cash) −99 30 −21 40 47 42 −3 −7 −42 −67 −78 −57 −59 −293 −238 −499 −107 −114
Diluted shares 48m 48m 48m 48m 48m 48m 48m 48m 48m 49m 49m 49m 49m 49m 49m 49m 48m 47m
Returned to shareholders
Dividends 19 25 20 31 25 49 121 0 0 42 0 2 6 252 92 330 232 117
Total returned 19 25 20 31 25 49 121 0 0 42 0 2 6 252 92 330 232 117

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · August 29, 2026
What it owns · $3.0bn
Short-term assets $1.5bnLonger-term assets $1.5bn
What it owes, and who funded it · $3.0bn
Short-term liabilities $191mLonger-term liabilities $242mShareholders' equity $2.6bn
  • Short-term assets cover short-term liabilities $1.5bn of assets due within a year against $191m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $1.5bn short-term assets against $242m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Cal-maine Foods Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Dividends (TTM)
$117M
Returned to shareholders
-358%
of free cash flow
Diluted share count
−2.9%
year over year
Total shareholder yield
3.8%
dividends 3.8% + buybacks 0.0% of market value
Dividend payout ratio
200%
of net income paid out
Sales & admin spending
13.5%
of revenue
Days sales outstanding
25 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in packaged foods & meats
Last 12 months unless stated CALM MZTI NOMD BGS JJSF DMC Median
Revenue, last 12 months $2.5bn $1.9bn $3.4bn $1.8bn $1.5bn $4.4bn $1.5bn
Revenue growth, last 12 months −42.5% 1.1% 2.2% −4.9% −4.7% 1.4% 2.1%
Revenue growth, 3-year average −5.0% 1.9% — −6.0% 0.2% 0.2% 1.5%
Revenue growth, latest quarter −41.5% −2.2% — −9.7% −6.2% 7.2% −1.8%
Gross margin 14.3% 24.7% 27.1% 21.5% 31.3% 9.6% 25.6%
Operating margin 0.7% 12.4% 10.7% 3.6% 3.9% 2.9% 3.1%
Operating margin, 3-year average 18.7% 11.5% 12.1% −1.5% 6.2% 2.3% 4.8%
Net margin 2.3% 9.9% 4.5% −4.0% 3.2% 1.9% 2.1%
Cash from operations / revenue 3.9% 14.7% 10.9% 5.0% 10.9% 1.5% 8.0%
Free-cash-flow margin −1.3% 10.7% 8.3% 3.6% 6.0% −0.8% 3.9%
Free-cash-flow margin, 3-year average 13.7% 10.4% 8.3% 5.7% 5.7% 2.2% 5.7%
Stock pay / revenue 0.2% 0.5% 0.3% 0.7% 0.4% 0.2% 0.6%
Change in share count −2.9% −0.3% −7.2% 1.0% −2.0% −0.8% 0.0%

Median of all 44 companies we cover in packaged foods & meats. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 packaged foods & meats companies
Measure Company Peer median Rank
Revenue growth Growth -42.5% 2.2% 44 of 44
Change in growth rate Growth -10.8pp -1.0pp 40 of 44
Gross margin Profitability 14.3% 25.6% 35 of 43
Operating margin Profitability 0.7% 3.4% 25 of 42
Net margin Profitability 2.3% 2.3% 22 of 44
Free-cash-flow margin Cash generation -1.3% 4.3% 32 of 43
Stock pay as % of revenue Cash generation 0.2% 0.6% 4 of 39
Change in share count Balance sheet -2.9% 0.1% 4 of 40
Days sales outstanding Balance sheet 25 days 33 days 11 of 35

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to May 30, 2026
Segments
Line of business Revenue Share YoY
Reportable Segment Aggregation Before Other Operating $2.6B 89.4% ▼ 32.1%
Conventional Shell Egg $1.3B 50.3% ▼ 51.6%
Specialty Shell Egg Sales $1B 40.3% ▼ 6.9%
Prepared Foods $245M 9.4% ▲ 5944.5%
All Other Segments $308M 10.6% ▼ 28.0%
Products and services
Line of business Revenue Share YoY
Retail $2.4B 82.1% ▼ 33.8%
Food and Beverage $450M 15.5% ▼ 26.4%
Other services $72M 2.5% ▲ 88.5%

From Cal-maine Foods Inc's 10-K filed July 22, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$3.6B
Institutions reporting
453
Shares held vs prior quarter
▲ 1.9%
Positions opened / closed
63 / 72

Top buyers and sellers, Q2 2026: 242 institutions bought and 217 sold ; the biggest buyer was American Century Companies Inc (+512K shares) and the biggest seller Bank Of America Corp (−340K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $557M 6.9M 15.5% ▼ 0.5%
Vanguard Portfolio Management LLC $229M 2.8M 6.4% ▲ 3.3%
Dimensional Fund Advisors LP $221M 2.7M 6.1% ▲ 8.9%
American Century Companies Inc $203M 2.5M 5.6% ▲ 25.5%
Vanguard Capital Management LLC $153M 1.9M 4.2% ▲ 0.6%
State Street Corp $144M 1.8M 4.0% ▲ 4.2%
River Road Asset Management, LLC $133M 1.7M 3.7% ▲ 20.9%
Renaissance Technologies LLC $126M 1.6M 3.5% ▼ 11.8%
First Trust Advisors LP $103M 1.3M 2.8% ▼ 17.9%
Boston Partners $102M 1.3M 2.8% ▲ 4.3%
Geode Capital Management, LLC $98.3M 1.2M 2.7% ▲ 6.8%
Morgan Stanley $86.4M 1.1M 2.4% ▼ 3.8%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Cal-maine Foods Inc's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around January 6, 2027 estimated from the company's past filing pattern, not announced

  • September 30, 2026
  • July 22, 2026
  • April 1, 2026
  • January 7, 2026
  • October 1, 2025
  • July 22, 2025

Recent SEC filings

Data status

When each part of this page on Cal-maine Foods Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Cal-maine Foods Inc in brief

What does Cal-maine Foods Inc do?
Cal-maine Foods Inc is a US-listed company in the packaged foods & meats industry. Its financial year ends in May.
What is Cal-maine Foods Inc's stock ticker?
Cal-maine Foods Inc trades under the ticker CALM on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Cal-maine Foods Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Cal-maine Foods Inc reported revenue of $2.5B, 42.5% lower than a year earlier, according to its SEC filings.
What is Cal-maine Foods Inc's free cash flow?
Cal-maine Foods Inc's free-cash-flow margin is -1.3% of revenue over the trailing twelve months, ranking 32 of the 43 packaged foods & meats companies we cover.
What is Cal-maine Foods Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Cal-maine Foods Inc's free cash flow after stock-based pay gives ~$150 per share in the base case, and ~$120–$200 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Cal-maine Foods Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Cal-maine Foods Inc's market cap?
On November 2, 2026, Cal-maine Foods Inc's market capitalisation was about $3.1B, with a price-to-earnings ratio of 53.2 and net debt of -$114M. Market figures come from third-party market data and may be delayed.
Does Cal-maine Foods Inc pay a dividend?
Yes: Cal-maine Foods Inc paid $117M in dividends over the trailing twelve months, a dividend yield of 3.81% and a payout ratio of 200.0%.
Who are Cal-maine Foods Inc's competitors?
In our Packaged Foods & Meats peer group, the companies closest to Cal-maine Foods Inc are Marzetti Co, Nomad Foods Ltd, B&G Foods, Inc., J&J Snack Foods Corp and DEL Monte Corp. The side-by-side comparison below sets their revenue, margins and growth against Cal-maine Foods Inc's.
When is Cal-maine Foods Inc's next earnings date?
Around January 6, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Cal-maine Foods Inc announces its own schedule.