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Lamb Weston Holdings, Inc. (LW) stock

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NYSE: LW NYSE Packaged Foods & Meats Next results ~December 17, 2026

C+ Fundamentals grade

Lamb Weston Holdings, 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

Model estimate per share

~$57

Valuation models combined (2)

Base case. Range ~$34–$80. Weighted average of 2 models (forward price-to-earnings vs peers, justified price-to-book).

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Lamb Weston Holdings, 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.

  • Insiders5 buying, 0 selling10 purchases and 0 sales by directors and officers, last 12 monthsInsider trades
  • Funds255 adding, 268 cuttingOf 60 active managers that changed their stake, 33 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Lamb Weston Holdings files

Where Lamb Weston stands after its latest 10-Q

Revenue for the twelve months to August 2026 was $6.62bn, up 2.6% on a year earlier, about the same pace as a quarter earlier. That puts it 747 of 931 for growth among all the companies we cover. Free-cash-flow margin fell to 6.2% from 7.7% a year earlier. The diluted share count is down 2.1% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 1 financial-health checks. Our cash-flow model value is $0.04 a share, against a share price of $53.14.

Source: 10-Q filed October 6, 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 ~December 17, 2026 (estimated)

Lamb Weston Holdings, Inc.'s trailing-twelve-month revenue grew 2.6% year on year, with a free-cash-flow margin of 6.2%. Where it stands out: change in share count of -2.1% ranks 6 of 40 packaged foods & meats companies we cover. Where it lags: long-term debt as % of assets of 48.9% ranks 32 of 35 packaged foods & meats companies we cover.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 28% in the quarter to 2026-08-31, the 4th beat in the last four quarters.

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

  • Shrinking share count. Diluted shares fell 2.1% in a year, so each share owns more of the business.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Gross margin slipping. Gross margin is down 2.1 points on a year ago.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 48.9% ranks 32 of 35 packaged foods & meats companies we cover (median 18.5%).
  • Short interest rising. Shares sold short rose 44% in a month to 8.0% of tradable shares.

Latest results: FY2027 Q1

Filed October 6, 2026
Earnings per share
$0.75 against an average estimate of $0.59: beat by 27.7%
Revenue
$1.67bn, up 0.7% on a year earlier
Share reaction
+7.9% in the first session after the results on October 6, 2026, against +0.3% for the S&P 500
Guidance given
adjusted EBITDA $1.13bn to $1.22bn (fiscal 2027); adjusted Diluted EPS $3.05 to $3.35 (fiscal 2027)
Next report
December 17, 2026; average EPS estimate $0.86

Lamb Weston Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.6%
  • 1 week+2.4%
  • 1 month+26.3%
  • This year+38.4%
  • 1 year-10.1%
  • 5 years+7.7%
  • 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)
$6.6B
Operating margin
7.8%
Net margin
3.8%
EPS (TTM, diluted)
$1.84

Growth

Revenue growth
+2.6%
Change in growth rate
+0.1 pts
Share count change
−2.1%

Cash

Free cash flow (TTM)
$412M
FCF margin
6.2%
Stock pay % of revenue
0.8%

Earnings

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

News & updates

Updated October 31, 2026

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

  1. Leadership
  2. Results
  3. Guidance
  4. Shareholder vote
  5. Results
  6. Leadership

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

Lamb Weston Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Our value per share comes from a discounted-cash-flow model of Lamb Weston Holdings, Inc.'s free cash flow after stock-based pay ( $197M, 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 Lamb Weston Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 7.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.55 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$3.2 Left out: out of range vs price (0.06x)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$34 ~$36–$61 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: return on equity above 40%: buybacks or intangibles make book value too small an anchor
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$80 ~$65–$100 Included
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. — Does not apply: earnings are positive: price-to-earnings is the better measure
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) 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. ~$57 ~$34–$80 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Lamb Weston Holdings, 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 2017201820192020202120222023202420252026Now
Share price$39.26$57.06$54.77$53.59$74.57$62.40$101.58$83.94$48.72$42.86$56.58
Market value$5.8bn$8.4bn$8.1bn$7.9bn$11.0bn$9.1bn$14.7bn$12.2bn$7.0bn$6.0bn$7.8bn
+ Net debt (− = net cash)$2.4bn$2.3bn$2.3bn$2.2bn$2.0bn$2.2bn$3.2bn$4.1bn$4.1bn$3.9bn$3.8bn
Enterprise value$8.1bn$10.7bn$10.4bn$10.1bn$12.9bn$11.3bn$17.9bn$16.3bn$11.0bn$9.8bn$11.6bn
Multiples
Price / sales 1.8x2.5x2.1x2.1x3.0x2.2x2.8x1.9x1.1x0.9x1.2x
Price / earnings 17.6x20.1x16.9x21.5x34.5x45.3x14.6x16.8x19.5x20.6x30.8x
Price / free cash flow 36.1x48.1x23.3x19.4x27.1x70.9x137.0x—30.2x11.0x19.0x
EV / EBITDA 12.9x14.8x12.5x13.6x19.5x17.8x16.2x11.9x10.6x9.9x12.9x

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

71 /100

Strong moat

How hard Lamb Weston Holdings'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 20 / 20

    Cash operating profit has been a median 16.6% of total assets over 6 years.

  • Pricing power 9 / 20

    Gross margin has been a median 24.1%, moving by 2.7 percentage points (standard deviation) across 10 years.

  • Durability 12 / 20

    Operating margin has been a median 14.5%; its worst year was 7.8%.

  • Cash conversion 12 / 20

    Free cash flow was positive in 9 of 10 years, at a median 6.5% of revenue.

  • Discipline 19 / 20

    The diluted share count fell 5.7% over five years; stock-based pay has been a median 0.6% 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: December 17, 2026, before the open. Analysts expect revenue of $1.6bn and EPS of $0.86 (range $0.79 to $0.90) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $3.22 +7% $6.6bn 0%
Next $3.53 +10% $6.7bn +2%

Next year's EPS estimate has moved +2.1% in 90 days, across 11 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +6.9% on 90 days ago. In the last 30 days, 10 analysts raised Lamb Weston Holdings, Inc.'s forecast and 0 cut it.

Consensus EPS forecast Lamb Weston Holdings, Inc., last 90 days
$3.00 $3.20 $3.40 $3.60 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.01 Current fiscal year, 60 days ago: $3.05 Current fiscal year, 30 days ago: $3.03 Current fiscal year, 7 days ago: $3.01 Current fiscal year, Now: $3.22 $3.22 Next fiscal year, 90 days ago: $3.46 Next fiscal year, 60 days ago: $3.39 Next fiscal year, 30 days ago: $3.37 Next fiscal year, 7 days ago: $3.37 Next fiscal year, Now: $3.53 $3.53

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.01$3.46
60 days ago $3.05$3.39
30 days ago $3.03$3.37
7 days ago $3.01$3.37
Now $3.22$3.53

Earnings against estimates

Quarter toEstimateActualSurprise
Aug 2026 $0.59 $0.75 +27.7%
May 2026 $0.63 $0.87 +39.1%
Feb 2026 $0.61 $0.72 +17.4%
Nov 2025 $0.65 $0.69 +6.4%

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

Management guidance

Earnings release, October 6, 2026
  • Adjusted Diluted EPS fiscal 2027 $3.05 to $3.35 Non-GAAP Raised
    “Adjusted Diluted EPS (1) $2.95 to $3.25 $3.05 to $3.35” source
  • Adjusted EBITDA fiscal 2027 $1.125bn to $1.215bn Non-GAAP Raised
    “Full-year Adjusted EBITDA (1) outlook updated to $1.125 billion to $1.215 billion” source
  • Capital expenditures fiscal 2027 $380m to $410m
    “Capital expenditures (b) $380 to $410 million $380 to $410 million” source
  • Capital expenditures (accrual basis) fiscal 2027 $330m to $350m
    “On an accrual basis, capital expenditures are expected to be approximately $330 to $350 million.” source
  • Adjusted Income from Operations fiscal 2027 $730m to $810m Non-GAAP
    “Updated : Adjusted Income from Operations (1) of $730 million to $810 million;” source
  • Depreciation and amortization expense fiscal 2027 about $410m
    “Depreciation and amortization expense of approximately $410 million;” source
Show 4 more items
  • Interest expense, net fiscal 2027 $185m to $190m
    “Updated : Interest expense, net of approximately $185 million to $190 million;” source
  • Adjusted effective tax rate fiscal 2027 25% to 27% Non-GAAP
    “Updated : An adjusted effective tax rate (2) (full year) of approximately 25.0% to 27.0%, excluding the impact of comparability items;” source
  • Diluted outstanding common shares fiscal 2027 138m to 139m
    “Diluted outstanding common shares in the range of 137.5 million to 139.0 million; and,” source
  • Net cash provided by operating activities fiscal 2027 $750m to $800m
    “Net cash provided by operating activities of $750 million to $800 million.” 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 Lamb Weston Holdings, Inc.'s revenue by +1.3% next year and +2.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+0.4%, weight 68%) and the company's own record (+3.3%, weight 32%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy433%
Hold867%
Sell00%

Monthly trend

  1. Oct 202622812
  2. Sep 202622812
  3. Aug 202622812
  4. Jul 202622812

Counts of recommendations published by analysts covering Lamb Weston Holdings, 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
8.0%
of tradable shares
Days to cover
3.4
at average volume
Short interest, 1 month
+44%
to October 15, 2026
Held by institutions
97%
of shares
Held by insiders
2.7%
of shares
Employees
10,000
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 −6.1%

$60.24 on October 31, 2025 to $56.58

ThenNowEffect
Revenue (last 12 months) $6.5bn $6.6bn +2.6%
Net margin 4.6% 3.8% −15.5%
P/E multiple 29.0x 30.8x +6.2%
Share count 142m 139m +2.1%

Biggest factor: net margin.

Last 3 years −35.6%

$87.84 on November 3, 2023 to $56.58

ThenNowEffect
Revenue (last 12 months) $5.9bn $6.6bn +12.4%
Net margin 17.2% 3.8% −77.6%
P/E multiple 12.6x 30.8x +143.5%
Share count 146m 139m +5.1%

Biggest factor: net margin.

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
LW−18%+43%+22%−37%−36%+38%
Industry peers (median)+9%−4%−5%−2%−16%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LW33%83%58%50%50%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LW−41%−29%−28%−51%−37%−26%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 10, 2016: 65% from July 3, 2023 to April 1, 2026. Getting back needed a 182% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$37.86 – $61.24
From 52-week high
−7.6%
vs 50-day average
+13.2%
vs 200-day average
+22.3%
Volatility (1 year)
43%
Beta vs S&P 500
0.14

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
7 up, 5 down
typical move ±14.2%
After a week
6 up, 6 down
typical move ±13.1%
After a month
5 up, 6 down
typical move ±13.6%
Results releasedNext dayS&P 500 next day5 days21 days
October 6, 2026 +7.9% +0.3% +16.6% —
July 24, 2026 +8.0% +0.1% +6.9% +12.2%
April 1, 2026 −6.9% +0.8% −1.5% +3.8%
December 19, 2025 −27.9% +1.5% −29.5% −25.7%
September 30, 2025 +11.4% +0.7% +13.7% +13.5%
July 23, 2025 +19.2% +0.9% +19.4% +11.9%
April 3, 2025 +9.0% −10.5% −0.4% −4.6%
December 19, 2024 −20.6% +1.2% −14.3% −22.6%
October 2, 2024 +5.2% −0.1% +9.3% +19.7%
July 24, 2024 −32.6% −2.8% −23.7% −20.1%
April 4, 2024 −21.1% −0.2% −19.5% −15.5%
January 4, 2024 +1.0% −0.2% +2.1% −0.4%

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.

Lamb Weston Holdings, Inc. in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

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) Lamb Weston Holdings, Inc.
$6.3B $6.4B $6.5B $6.6B $6.7B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $6.3B Revenue (TTM), FY24 Q3: $6.6B Revenue (TTM), FY24 Q4: $6.5B Revenue (TTM), FY25 Q1: $6.5B Revenue (TTM), FY25 Q2: $6.3B Revenue (TTM), FY25 Q3: $6.4B Revenue (TTM), FY25 Q4: $6.5B Revenue (TTM), FY26 Q1: $6.5B Revenue (TTM), FY26 Q2: $6.5B Revenue (TTM), FY26 Q3: $6.5B Revenue (TTM), FY26 Q4: $6.6B Revenue (TTM), FY27 Q1: $6.6B $6.6B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $6.3B
FY24 Q3 $6.6B
FY24 Q4 $6.5B
FY25 Q1 $6.5B
FY25 Q2 $6.3B
FY25 Q3 $6.4B
FY25 Q4 $6.5B
FY26 Q1 $6.5B
FY26 Q2 $6.5B
FY26 Q3 $6.5B
FY26 Q4 $6.6B
FY27 Q1 $6.6B
Revenue growth, TTM YoY Lamb Weston Holdings, Inc.
-20% 0% 20% 40% 60% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 40.7% Revenue growth, TTM YoY, FY24 Q3: 36.2% Revenue growth, TTM YoY, FY24 Q4: 20.9% Revenue growth, TTM YoY, FY25 Q1: 9.6% Revenue growth, TTM YoY, FY25 Q2: -0.3% Revenue growth, TTM YoY, FY25 Q3: -2.5% Revenue growth, TTM YoY, FY25 Q4: -0.3% Revenue growth, TTM YoY, FY26 Q1: 0.0% Revenue growth, TTM YoY, FY26 Q2: 2.3% Revenue growth, TTM YoY, FY26 Q3: 2.0% Revenue growth, TTM YoY, FY26 Q4: 2.5% Revenue growth, TTM YoY, FY27 Q1: 2.6% 2.6%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 40.7%
FY24 Q3 36.2%
FY24 Q4 20.9%
FY25 Q1 9.6%
FY25 Q2 -0.3%
FY25 Q3 -2.5%
FY25 Q4 -0.3%
FY26 Q1 0.0%
FY26 Q2 2.3%
FY26 Q3 2.0%
FY26 Q4 2.5%
FY27 Q1 2.6%
Operating margin (TTM) Lamb Weston Holdings, Inc.
5% 10% 15% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 17.1% Operating margin (TTM), FY24 Q3: 15.9% Operating margin (TTM), FY24 Q4: 16.5% Operating margin (TTM), FY25 Q1: 14.8% Operating margin (TTM), FY25 Q2: 10.5% Operating margin (TTM), FY25 Q3: 10.8% Operating margin (TTM), FY25 Q4: 10.3% Operating margin (TTM), FY26 Q1: 9.4% Operating margin (TTM), FY26 Q2: 11.3% Operating margin (TTM), FY26 Q3: 9.3% Operating margin (TTM), FY26 Q4: 8.9% Operating margin (TTM), FY27 Q1: 7.8% 7.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 17.1%
FY24 Q3 15.9%
FY24 Q4 16.5%
FY25 Q1 14.8%
FY25 Q2 10.5%
FY25 Q3 10.8%
FY25 Q4 10.3%
FY26 Q1 9.4%
FY26 Q2 11.3%
FY26 Q3 9.3%
FY26 Q4 8.9%
FY27 Q1 7.8%
FCF margin (TTM) Lamb Weston Holdings, Inc.
-5% 0% 5% 10% 15% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 0.0% FCF margin (TTM), FY24 Q3: -1.2% FCF margin (TTM), FY24 Q4: -2.0% FCF margin (TTM), FY25 Q1: -3.0% FCF margin (TTM), FY25 Q2: -2.0% FCF margin (TTM), FY25 Q3: 1.3% FCF margin (TTM), FY25 Q4: 3.6% FCF margin (TTM), FY26 Q1: 7.7% FCF margin (TTM), FY26 Q2: 10.1% FCF margin (TTM), FY26 Q3: 9.7% FCF margin (TTM), FY26 Q4: 8.2% FCF margin (TTM), FY27 Q1: 6.2% 6.2%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 0.0%
FY24 Q3 -1.2%
FY24 Q4 -2.0%
FY25 Q1 -3.0%
FY25 Q2 -2.0%
FY25 Q3 1.3%
FY25 Q4 3.6%
FY26 Q1 7.7%
FY26 Q2 10.1%
FY26 Q3 9.7%
FY26 Q4 8.2%
FY27 Q1 6.2%

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 Lamb Weston Holdings 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 $6.6B
  2. Cost of revenue $5.3B · 79.4%
  3. Gross profit $1.4B · 20.6%
  4. Selling, general and admin $665M · 10.1%
  5. Other operating costs $85.1M · 1.3%
  6. Operating income $591M · 8.9%
  7. Income tax $128M · 1.9%
  8. Interest and other $173M · 2.6%
  9. Net income $290M · 4.4%

Shares of revenue. Source: Lamb Weston Holdings's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 2015 May 2015 2016 May 2016 2017 May 2017 2018 May 2018 2019 May 2019 2020 May 2020 2021 May 2021 2022 May 2022 2023 May 2023 2024 May 2024 2025 May 2025 2026 May 2026 LTM Aug 2026
Income
Revenue 2,925 2,994 3,168 3,424 3,757 3,792 3,671 4,099 5,351 6,468 6,451 6,612 6,623
Gross profit 587 662 779 880 1,004 895 832 832 1,432 1,767 1,399 1,360 1,284
EBITDA 478 469 627 723 831 739 663 637 1,105 1,372 1,040 988 901
Operating income 381 373 518 580 668 557 475 444 882 1,065 665 591 517
Net income 268 285 327 417 479 366 318 201 1,009 726 357 290 255
Diluted EPS $1.83 $1.92 $2.22 $2.82 $3.18 $2.49 $2.16 $1.38 $6.95 $4.98 $2.50 $2.08 $1.84
Growth (year on year)
Revenue — +2.4% +5.8% +8.1% +9.7% +1.0% −3.2% +11.7% +30.5% +20.9% −0.3% +2.5% +2.6%
EBITDA — −1.8% +33.7% +15.3% +14.8% −11.0% −10.4% −3.9% +73.6% +24.2% −24.2% −5.0% −9.9%
Operating income — −2.1% +38.8% +11.9% +15.2% −16.7% −14.7% −6.4% +98.5% +20.8% −37.6% −11.1% −15.2%
Net income — +6.3% +14.6% +27.5% +14.8% −23.5% −13.1% −36.8% +402.2% −28.1% −50.8% −18.8% −13.4%
Diluted EPS — +4.9% +15.6% +27.0% +12.8% −21.7% −13.3% −36.1% +403.6% −28.3% −49.8% −16.8% −11.5%
Margins
Gross margin 20.1% 22.1% 24.6% 25.7% 26.7% 23.6% 22.7% 20.3% 26.8% 27.3% 21.7% 20.6% 19.4%
EBITDA margin 16.3% 15.7% 19.8% 21.1% 22.1% 19.5% 18.1% 15.5% 20.6% 21.2% 16.1% 14.9% 13.6%
Operating margin 13.0% 12.5% 16.4% 16.9% 17.8% 14.7% 12.9% 10.8% 16.5% 16.5% 10.3% 8.9% 7.8%
Net margin 9.2% 9.5% 10.3% 12.2% 12.7% 9.6% 8.7% 4.9% 18.9% 11.2% 5.5% 4.4% 3.8%
Free-cash-flow margin 8.2% 7.7% 5.0% 5.1% 9.2% 10.7% 11.0% 3.1% 2.0% −2.0% 3.6% 8.2% 6.2%
Cash flow
Cash from operations 354 382 447 481 681 574 553 419 762 798 868 943 826
Capital spending 115 152 287 307 334 168 147 290 654 930 638 403 414
Free cash flow 239 230 160 174 347 406 406 129 108 −131 230 540 412
Stock-based pay 7 3 6 14 19 23 21 21 39 47 40 46 51
Free cash flow after stock pay 232 227 154 161 328 384 385 107 69 −178 191 494 361
Balance sheet
Cash 31 36 57 56 12 1,364 784 525 305 71 71 68 166
Total debt 0 143 2,425 2,385 2,327 3,555 2,753 2,745 3,480 4,163 4,148 3,929 3,929
Net debt (negative = net cash) −31 107 2,368 2,329 2,314 2,191 1,969 2,220 3,175 4,092 4,078 3,861 3,762
Diluted shares 146m 146m 147m 147m 147m 147m 147m 146m 145m 146m 143m 139m 139m
Returned to shareholders
Dividends — — 27 110 113 121 135 138 146 174 207 208 208
Total returned — — 27 110 113 121 135 138 146 174 207 208 208

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

3 of 5 checks passed · August 30, 2026
What it owns · $7.3bn
Short-term assets $2.0bnLonger-term assets $5.3bn
What it owes, and who funded it · $3.2bn
Short-term liabilities $1.4bnShareholders' equity $1.8bn
  • Short-term assets cover short-term liabilities $2.0bn of assets due within a year against $1.4bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $166m of cash against $3.9bn of debt.
  • Debt below 40% of shareholders' equity Debt is 214% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 687% to 214% over five years.
  • A year's operating cash flow covers at least 20% of debt $826m of operating cash flow against $3.9bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Lamb Weston Holdings, 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)
$208M
Returned to shareholders
50%
of free cash flow
Diluted share count
−2.1%
year over year
Total shareholder yield
2.7%
dividends 2.7% + buybacks 0.0% of market value
Dividend payout ratio
82%
of net income paid out
Sales & admin spending
10.3%
of revenue

Competitors: side by side with peers

Closest by revenue in packaged foods & meats
Last 12 months unless stated LW MKC FLO POST SJM CPB Median
Revenue, last 12 months $6.6bn $7.7bn $5.2bn $8.4bn $9.2bn $9.7bn $1.5bn
Revenue growth, last 12 months 2.6% 13.2% 2.5% 6.2% 5.1% −5.0% 2.1%
Revenue growth, 3-year average 4.0% 5.2% 1.4% 8.3% 2.7% 1.4% 1.5%
Revenue growth, latest quarter 0.7% 17.4% −4.0% −1.8% 5.0% −7.9% −1.8%
Gross margin 19.4% 39.1% — 28.8% 38.7% 28.1% 25.6%
Operating margin 7.8% 13.4% 2.7% 9.6% 9.0% 8.7% 3.1%
Operating margin, 3-year average 10.7% 15.0% 4.3% 9.9% 4.6% 10.0% 4.8%
Net margin 3.8% 19.4% 1.1% 3.5% 2.5% 4.1% 2.1%
Cash from operations / revenue 12.5% 14.8% 8.1% 11.8% 20.9% 10.7% 8.0%
Free-cash-flow margin 6.2% 12.0% 5.9% 6.6% 17.3% 6.4% 3.9%
Free-cash-flow margin, 3-year average 3.7% 11.1% 6.2% 6.5% 10.8% 6.2% 5.7%
Stock pay / revenue 0.8% 0.6% 0.6% 1.0% 0.3% 0.6% 0.6%
Change in share count −2.1% −0.0% 0.1% −12.4% −0.7% 0.0% 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 2.6% 2.2% 20 of 44
Change in growth rate Growth +0.1pp -1.0pp 17 of 44
Gross margin Profitability 19.4% 25.6% 31 of 43
Operating margin Profitability 7.8% 3.4% 11 of 42
Net margin Profitability 3.8% 2.3% 16 of 44
Free-cash-flow margin Cash generation 6.2% 4.3% 17 of 43
Stock pay as % of revenue Cash generation 0.8% 0.6% 23 of 39
Long-term debt as % of assets Balance sheet 48.9% 18.5% 32 of 35
Change in share count Balance sheet -2.1% 0.1% 6 of 40

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

Where the revenue comes from

Fiscal year to May 31, 2026
Geography
Region Revenue Share YoY
United States $4.3B 64.9% ▲ 2.8%
Outside the US $2.3B 35.1% ▲ 2.0%

From Lamb Weston Holdings, Inc.'s 10-K filed July 24, 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
$5.6B
Institutions reporting
552
Shares held vs prior quarter
▲ 1.1%
Positions opened / closed
67 / 78

Top buyers and sellers, Q2 2026: 255 institutions bought and 268 sold ; the biggest buyer was AQR Capital Management LLC (+2.8M shares) and the biggest seller London Co Of Virginia (−1.5M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $730M 16.9M 13.0% ▼ 4.1%
Price T Rowe Associates Inc $396M 9.2M 7.0% ▼ 3.2%
Vanguard Portfolio Management LLC $347M 8.0M 6.2% ▼ 1.6%
Jpmorgan Chase & Co $314M 7.1M 5.6% ▼ 2.5%
Vanguard Capital Management LLC $259M 6.0M 4.6% ▼ 3.9%
Starboard Value LP $248M 5.7M 4.4% ▼ 6.2%
Jana Partners Management, LP $233M 5.4M 4.1% ▲ 7.7%
AQR Capital Management LLC $213M 4.9M 3.8% ▲ 135.0%
State Street Corp $210M 4.9M 3.7% ▲ 6.4%
FMR LLC $165M 3.8M 2.9% ▲ 70.1%
Continental Grain Co $154M 3.6M 2.7% ▲ 35.5%
Dimensional Fund Advisors LP $144M 3.3M 2.6% ▲ 22.0%

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 Lamb Weston Holdings, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $19.4M 10 trades by 5 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $19.4M net buying
Insider Date Trade Shares Price Value
Gray James D Chief Financial Officer May 11, 2026 Buy 5,000 $40.90 $204,500
Gray James D Chief Financial Officer May 11, 2026 Buy 5,000 $40.95 $204,750
Gray James D Chief Financial Officer April 27, 2026 Buy 4,556 $43.85 $199,781
Jana Partners Management, Lp Director April 15, 2026 Buy 50,000 $43.19 $2.2M
Jana Partners Management, Lp Director April 13, 2026 Buy 100,000 $42.12 $4.2M
Jana Partners Management, Lp Director April 8, 2026 Buy 100,000 $41.41 $4.1M
Prestage Norman Director April 7, 2026 Buy 2,500 $41.40 $103,500
Jana Partners Management, Lp Director April 7, 2026 Buy 136,000 $40.89 $5.6M
Bensen Peter J Director April 6, 2026 Buy 5,000 $39.45 $197,250
Craps Jan Eli B Executive Chair February 6, 2026 Buy 50,000 $48.65 $2.4M

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.

Trades by members of Congress

All 26 trades and filings

No trades in Lamb Weston Holdings, Inc. disclosed in the last 12 months; 26 earlier trades on record.

  • Julie Johnson(D-TX 32):Sale (full), $1,001 - $15,000, traded January 15, 2025, filed February 12, 2025
  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded January 13, 2025, filed February 13, 2025
  • Earl Blumenauer(D-OR 3):Purchase, $1,001 - $15,000, traded September 24, 2021, filed October 12, 2021

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

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

  • October 6, 2026
  • July 24, 2026
  • April 1, 2026
  • December 19, 2025
  • September 30, 2025
  • July 23, 2025

Recent SEC filings

Data status

When each part of this page on Lamb Weston Holdings, 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.

Lamb Weston Holdings, Inc. in brief

What does Lamb Weston Holdings, Inc. do?
Lamb Weston Holdings, Inc. is a US-listed company in the packaged foods & meats industry. Its financial year ends in May.
What is Lamb Weston Holdings, Inc.'s stock ticker?
Lamb Weston Holdings, Inc. trades under the ticker LW on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Lamb Weston Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Lamb Weston Holdings, Inc. reported revenue of $6.6B, 2.6% higher than a year earlier, according to its SEC filings.
What is Lamb Weston Holdings, Inc.'s free cash flow?
Lamb Weston Holdings, Inc.'s free-cash-flow margin is 6.2% of revenue over the trailing twelve months, ranking 17 of the 43 packaged foods & meats companies we cover.
Who are Lamb Weston Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Price T Rowe Associates Inc and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Lamb Weston Holdings, Inc.'s market cap?
On November 2, 2026, Lamb Weston Holdings, Inc.'s market capitalisation was about $7.8B, with a price-to-earnings ratio of 30.8 and net debt of $3.8B. Market figures come from third-party market data and may be delayed.
Does Lamb Weston Holdings, Inc. pay a dividend?
Yes: Lamb Weston Holdings, Inc. paid $208M in dividends over the trailing twelve months, a dividend yield of 2.66% and a payout ratio of 81.6%.
How much debt does Lamb Weston Holdings, Inc. have?
Lamb Weston Holdings, Inc.'s debt-to-equity ratio is 213.5%, from its latest balance sheet (687.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Lamb Weston Holdings, Inc.'s competitors?
In our Packaged Foods & Meats peer group, the companies closest to Lamb Weston Holdings, Inc. are McCormick & Company, Flowers Foods Inc, Post Holdings, Inc., The J.M. Smucker Company and Campbell's Co. The side-by-side comparison below sets their revenue, margins and growth against Lamb Weston Holdings, Inc.'s.
Are insiders buying or selling Lamb Weston Holdings, Inc. stock?
Over the last 12 months, Lamb Weston Holdings, Inc.'s directors and officers reported 10 open-market purchases and 0 sales on Form 4. The insider trading page charts every trade.
When is Lamb Weston Holdings, Inc.'s next earnings date?
Around December 17, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Lamb Weston Holdings, Inc. announces its own schedule.