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Lifeway Foods, Inc. (LWAY) stock

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NASDAQ: LWAY Nasdaq Packaged Foods & Meats Next results ~November 12, 2026

C+ Fundamentals grade

Lifeway Foods, Inc. is a US-listed company in the packaged foods & meats industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: valuation models disagree too widely to rate.

Price vs value

Under review: valuation models disagree too widely to rate. We'll show the comparison once resolved.

Lifeway 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.

  • Insiders3 buying, 3 selling15 purchases and 41 sales by directors and officers, last 12 monthsInsider trades
  • Funds68 adding, 26 cuttingOf 20 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Lifeway Foods files

Where Lifeway Foods stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $242m, up 25.6% on a year earlier, faster than the 21.9% growth a quarter earlier. That growth ranks 2 of 30 among the packaged foods & meats companies we cover. Free-cash-flow margin fell to -11.3% from 0.7% a year earlier. The diluted share count is up 2.4% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 3 financial-health checks.

Our model value for Lifeway Foods is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 13, 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 ~November 12, 2026 (estimated)

Lifeway Foods, Inc.'s trailing-twelve-month revenue grew 25.6% year on year, with a free-cash-flow margin of -11.3%. Where it stands out: revenue growth of 25.6% ranks 7 of 44 packaged foods & meats companies we cover. Where it lags: free-cash-flow margin of -11.3% ranks 37 of 43 packaged foods & meats companies we cover.

Current signal Revenue growth accelerating: TTM revenue growth rose to 25.6% (+3.7pp vs the prior quarter).

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

  • Fast growth. Revenue grew 25.6% over the last 12 months, against a median of 2.2% for packaged foods & meats companies we cover.
  • Growth speeding up. The growth rate is 3.7 points higher than a quarter earlier.

Things to watch

  • Burning cash. Free cash flow was -11.3% of revenue over the last 12 months.
  • Share dilution. Diluted shares rose 2.4% in a year.
  • Weak cash conversion. Free cash flow was -251% of net income over the last 12 months.
  • Heavily shorted. 11.0% of the shares available to trade are sold short (4.2 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 4 of the last four quarters.

Latest results: FY2026 Q2

Filed August 13, 2026
Earnings per share
$0.01 against an average estimate of $0.27: missed by 96.2%
Revenue
$67m, up 24.1% on a year earlier
Share reaction
-11.6% in the first session after the results on August 13, 2026, against +0.5% for the S&P 500
Next report
November 12, 2026; average EPS estimate $0.05

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

Price chart

  • 1 day-0.9%
  • 1 week-5.0%
  • 1 month+4.1%
  • This year-8.0%
  • 1 year-8.5%
  • 5 years+281.2%
  • 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)
$242M
Operating margin
6.5%
Net margin
4.5%
EPS (TTM, diluted)
$0.70

Growth

Revenue growth
+25.6%
Change in growth rate
+3.7 pts
Share count change
+2.4%

Cash

Free cash flow (TTM)
-$27.3M
FCF margin
-11.3%
Stock pay % of revenue
0.9%

Earnings

Last results
August 13, 2026

News & updates

Updated October 31, 2026

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

  1. Insider trade
  2. Insider trade
  3. Results
  4. Insider trade
  5. Insider trade
  6. Insider trade
  7. Insider trade
  8. Agreement
  9. Insider trade

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

Lifeway Foods, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Lifeway Foods, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.2%: the 10-year Treasury yield (4.9%) plus a beta of 0.73 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$6.0 ~$8.4–$20 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.7 ~$6.2–$12 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$9.8 ~$8.3–$12 Included
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$14 ~$10–$18 Included
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: This model is withheld pending its input or assumption review.
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

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

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$11.10$11.51$8.00$1.88$1.99$5.41$4.60$5.55$13.41$24.80$24.23$22.28
Market value$181m$186m$129m$31m$31m$85m$73m$87m$203m$375m$377m$347m
+ Net debt (− = net cash)$3m−$853000$4m−$3m−$1m−$5m−$4m$833000−$9m−$17m−$6m$15m
Enterprise value$184m$185m$133m$28m$30m$80m$69m$88m$193m$358m$371m$362m
Multiples
Price / sales 1.3x1.5x1.1x0.3x0.3x0.8x0.6x0.6x1.3x2.0x1.8x1.4x
Price / earnings 91.9x53.5x——69.4x26.4x21.9x94.4x17.8x41.6x27.2x31.9x
Price / free cash flow 38.2x99.6x——11.9x19.0x19.9x162.1x16.1x59.9x——
EV / EBITDA 24.5x20.3x51.5x75.4x21.6x9.8x7.9x16.6x9.6x20.8x18.4x18.1x

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

42 /100

Weak moat

How hard Lifeway 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 8 / 20

    Net income has been a median 5.8% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 25.4%, moving by 2.4 percentage points (standard deviation) across 10 years.

  • Durability 0 / 20

    Operating margin has been a median 4.5%; its worst year was -4.3%.

  • Cash conversion 8 / 20

    Free cash flow was positive in 7 of 10 years, at a median 1.6% of revenue.

  • Discipline 17 / 20

    The diluted share count fell 1.7% over five years; stock-based pay has been a median 0.9% 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: November 12, 2026, after the close. Analysts expect revenue of $67m and EPS of $0.05 (range $0.05 to $0.05) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.50 — $263m +24%
Next $1.35 +170% $298m +14%

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.27 $0.01 −96.2%
Mar 2026 $0.30 $0.30 0.0%
Dec 2025 $0.29 $0.16 −44.8%
Sept 2025 $0.28 $0.23 −17.9%

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

Management guidance

Earnings release, August 13, 2026

No numeric guidance in Lifeway Foods, Inc.'s latest earnings release (filed August 13, 2026). Some companies give their outlook only on the earnings call.

Analyst recommendations

3 analysts, Oct 2026
Buy3100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202633
  2. Sep 202633

Counts of recommendations published by analysts covering Lifeway 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
11.0%
of tradable shares
Days to cover
4.16
at average volume
Short interest, 1 month
+31%
to October 15, 2026
Held by institutions
57%
of shares
Held by insiders
39.3%
of shares
Employees
293
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 −7.1%

$23.99 on October 31, 2025 to $22.28

ThenNowEffect
Revenue (last 12 months) $193m $242m +25.6%
Net margin 5.5% 4.5% −18.4%
P/E multiple 34.4x 31.9x −7.2%
Share count 15m 16m −2.3%

Biggest factor: revenue.

Last 3 years +109.4%

$10.64 on November 3, 2023 to $22.28

ThenNowEffect
Revenue (last 12 months) $151m $242m +60.4%
Net margin 3.8% 4.5% +19.2%
P/E multiple 28.9x 31.9x +10.6%
Share count 15m 16m −1.0%

Biggest factor: revenue.

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
LWAY−15%+21%+142%+85%−2%−8%
Industry peers (median)+9%−4%−5%−2%−19%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LWAY33%58%50%50%42%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LWAY−35%−46%−30%−61%−37%−37%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 92% from October 19, 2016 to March 18, 2020. Getting back needed a 1127% gain, reached on March 26, 2024, 1469 days after the low.

Price behaviour

52-week range
$17.80 – $32.33
From 52-week high
−31.1%
vs 50-day average
−4.5%
vs 200-day average
−9.3%
Volatility (1 year)
43%
Beta vs S&P 500
0.37

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
4 up, 8 down
typical move ±6.7%
After a week
4 up, 8 down
typical move ±7.8%
After a month
5 up, 7 down
typical move ±12.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 13, 2026 −11.6% +0.5% −11.3% −15.6%
May 14, 2026 −11.2% −0.4% −7.9% −9.2%
April 1, 2026 +13.9% +0.8% +21.6% +40.1%
March 17, 2026 −10.7% −1.1% −12.8% +22.2%
January 8, 2026 +3.3% +0.7% +0.4% −1.6%
November 12, 2025 −6.1% −1.6% −4.9% −0.9%
October 6, 2025 +3.9% 0.0% +3.9% −5.0%
August 12, 2025 +9.3% +1.4% +10.8% +18.6%
March 5, 2025 −0.5% −0.7% −2.0% +17.6%
January 6, 2025 −3.8% −0.6% −6.7% −7.1%
April 10, 2017 −3.0% −0.1% −5.0% −6.1%
November 9, 2015 −3.6% −0.7% −5.9% +4.6%

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.

Lifeway Foods, 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) Lifeway Foods, Inc.
$150M $200M $250M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $153.9M Revenue (TTM), FY23 Q4: $160.1M Revenue (TTM), FY24 Q1: $166.9M Revenue (TTM), FY24 Q2: $176.8M Revenue (TTM), FY24 Q3: $182M Revenue (TTM), FY24 Q4: $186.8M Revenue (TTM), FY25 Q1: $188.3M Revenue (TTM), FY25 Q2: $193M Revenue (TTM), FY25 Q3: $204.1M Revenue (TTM), FY25 Q4: $212.5M Revenue (TTM), FY26 Q1: $229.4M Revenue (TTM), FY26 Q2: $242.4M $242.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $153.9M
FY23 Q4 $160.1M
FY24 Q1 $166.9M
FY24 Q2 $176.8M
FY24 Q3 $182M
FY24 Q4 $186.8M
FY25 Q1 $188.3M
FY25 Q2 $193M
FY25 Q3 $204.1M
FY25 Q4 $212.5M
FY26 Q1 $229.4M
FY26 Q2 $242.4M
Revenue growth, TTM YoY Lifeway Foods, Inc.
5% 10% 15% 20% 25% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 12.6% Revenue growth, TTM YoY, FY23 Q4: 13.1% Revenue growth, TTM YoY, FY24 Q1: 14.8% Revenue growth, TTM YoY, FY24 Q2: 17.0% Revenue growth, TTM YoY, FY24 Q3: 18.3% Revenue growth, TTM YoY, FY24 Q4: 16.7% Revenue growth, TTM YoY, FY25 Q1: 12.8% Revenue growth, TTM YoY, FY25 Q2: 9.2% Revenue growth, TTM YoY, FY25 Q3: 12.1% Revenue growth, TTM YoY, FY25 Q4: 13.7% Revenue growth, TTM YoY, FY26 Q1: 21.9% Revenue growth, TTM YoY, FY26 Q2: 25.6% 25.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 12.6%
FY23 Q4 13.1%
FY24 Q1 14.8%
FY24 Q2 17.0%
FY24 Q3 18.3%
FY24 Q4 16.7%
FY25 Q1 12.8%
FY25 Q2 9.2%
FY25 Q3 12.1%
FY25 Q4 13.7%
FY26 Q1 21.9%
FY26 Q2 25.6%
Operating margin (TTM) Lifeway Foods, Inc.
6% 8% 10% 12% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 8.6% Operating margin (TTM), FY23 Q4: 10.6% Operating margin (TTM), FY24 Q1: 11.5% Operating margin (TTM), FY24 Q2: 11.2% Operating margin (TTM), FY24 Q3: 10.4% Operating margin (TTM), FY24 Q4: 7.4% Operating margin (TTM), FY25 Q1: 6.3% Operating margin (TTM), FY25 Q2: 6.4% Operating margin (TTM), FY25 Q3: 6.4% Operating margin (TTM), FY25 Q4: 7.6% Operating margin (TTM), FY26 Q1: 9.1% Operating margin (TTM), FY26 Q2: 6.5% 6.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 8.6%
FY23 Q4 10.6%
FY24 Q1 11.5%
FY24 Q2 11.2%
FY24 Q3 10.4%
FY24 Q4 7.4%
FY25 Q1 6.3%
FY25 Q2 6.4%
FY25 Q3 6.4%
FY25 Q4 7.6%
FY26 Q1 9.1%
FY26 Q2 6.5%
FCF margin (TTM) Lifeway Foods, Inc.
-15% -10% -5% 0% 5% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 5.5% FCF margin (TTM), FY23 Q4: 7.9% FCF margin (TTM), FY24 Q1: 6.2% FCF margin (TTM), FY24 Q2: 7.5% FCF margin (TTM), FY24 Q3: 7.5% FCF margin (TTM), FY24 Q4: 3.4% FCF margin (TTM), FY25 Q1: 2.6% FCF margin (TTM), FY25 Q2: 0.7% FCF margin (TTM), FY25 Q3: 0.5% FCF margin (TTM), FY25 Q4: -5.9% FCF margin (TTM), FY26 Q1: -7.4% FCF margin (TTM), FY26 Q2: -11.3% -11.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 5.5%
FY23 Q4 7.9%
FY24 Q1 6.2%
FY24 Q2 7.5%
FY24 Q3 7.5%
FY24 Q4 3.4%
FY25 Q1 2.6%
FY25 Q2 0.7%
FY25 Q3 0.5%
FY25 Q4 -5.9%
FY26 Q1 -7.4%
FY26 Q2 -11.3%

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

Where the money goes

FY2025, from the 10-K

Each dollar Lifeway Foods took in during FY2025, followed through to profit: what it cost to make, what went on running the business, and what was left after tax.

  1. Revenue $212M
  2. Other income $3.5M · 1.7%
  3. Cost of revenue $154M · 72.6%
  4. Gross profit $58.2M · 27.4%
  5. Selling, general and admin $21.6M · 10.2%
  6. Other operating costs $20.4M · 9.6%
  7. Operating income $16.2M · 7.6%
  8. Income tax $5.8M · 2.7%
  9. Net income $13.9M · 6.5%

Shares of revenue. Source: Lifeway Foods's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. 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 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 58 70 90 109 130 137 124 119 103 94 102 119 142 160 187 212 242
Gross profit 20 21 27 28 29 30 35 31 26 22 27 29 27 42 49 58 62
EBITDA 8 7 11 10 7 8 9 3 0 1 8 9 5 20 17 20 20
Operating income 6 5 9 8 4 4 6 −1 −3 −2 5 6 2 17 14 16 16
Net income 4 3 6 5 2 2 3 −0 −3 0 3 3 1 11 9 14 11
Diluted EPS $0.22 $0.17 $0.34 $0.31 $0.12 $0.12 $0.22 −$0.02 −$0.19 $0.03 $0.21 $0.21 $0.06 $0.75 $0.60 $0.89 $0.70
Growth (year on year)
Revenue — +19.6% +28.3% +21.4% +19.5% +5.4% −9.7% −4.0% −13.1% −9.4% +8.9% +16.7% +18.9% +13.1% +16.7% +13.7% +25.6%
EBITDA — −11.7% +51.5% −7.7% −27.8% +0.6% +20.9% −71.6% −85.8% — — +7.2% −39.2% +278.8% −14.5% +16.9% +25.6%
Operating income — −19.1% +74.2% −9.2% −47.3% +4.0% +38.2% −108.6% — — — +19.4% −60.1% — −18.5% +16.7% +28.2%
Net income — −21.2% +96.8% −11.2% −60.8% — — −109.9% — — — +2.4% −72.1% — −20.6% +53.6% +2.5%
Diluted EPS — −22.7% +100.0% −8.8% −61.3% — — −109.1% — — — 0.0% −71.4% — −20.0% +48.3% +0.1%
Margins
Gross margin 34.5% 30.4% 29.7% 25.4% 22.2% 21.8% 28.3% 25.8% 25.0% 23.6% 26.4% 24.1% 18.9% 26.5% 26.0% 27.4% 25.6%
EBITDA margin 14.3% 10.6% 12.5% 9.5% 5.7% 5.5% 7.3% 2.2% 0.4% 1.5% 8.0% 7.4% 3.8% 12.6% 9.2% 9.5% 8.3%
Operating margin 10.7% 7.3% 9.9% 7.4% 3.3% 3.2% 4.9% −0.4% −3.0% −2.1% 4.8% 4.9% 1.7% 10.6% 7.4% 7.6% 6.5%
Net margin 6.2% 4.1% 6.3% 4.6% 1.5% 1.4% 2.8% −0.3% −3.0% 0.5% 3.2% 2.8% 0.7% 7.1% 4.8% 6.5% 4.5%
Free-cash-flow margin 5.8% 3.7% 5.8% −2.4% 1.1% 3.5% 1.5% −1.3% −0.4% 2.8% 4.4% 3.1% 0.4% 7.9% 3.4% −7.7% −11.3%
Cash flow
Cash from operations 6 4 7 6 5 7 5 4 2 4 6 6 4 17 13 11 11
Capital spending 2 1 1 8 4 2 3 5 3 1 2 2 3 4 7 27 39
Free cash flow 3 3 5 −3 1 5 2 −2 −0 3 4 4 1 13 6 −16 −27
Stock-based pay — — — — — 0 0 1 1 1 0 1 1 1 2 2 2
Free cash flow after stock pay — — — — — 5 2 −2 −1 2 4 2 −1 11 4 −18 −29
Balance sheet
Cash 3 1 2 3 3 6 9 5 3 4 8 9 4 13 17 6 7
Total debt 9 9 6 11 10 9 8 9 0 3 3 6 5 4 0 0 22
Net debt (negative = net cash) 6 8 4 7 7 3 −1 4 −3 −1 −5 −4 1 −9 −17 −6 15
Diluted shares — 16m 16m 16m 16m 16m 16m 16m 16m 16m 16m 16m 16m 15m 15m 16m 16m
Returned to shareholders
Dividends — — −1 1 — — — — — — — — — — — — —
Buybacks 3 1 1 0 — 2 1 1 1 1 0 2 4 0 — — —
Total returned 3 1 −1 1 — 2 1 1 1 1 0 2 4 0 — — —

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 3 checks passed · June 30, 2026
What it owns · $132m
Short-term assets $47mLonger-term assets $85m
What it owes, and who funded it · $132m
Short-term liabilities $23mLonger-term liabilities $25mShareholders' equity $85m
  • Short-term assets cover short-term liabilities $47m of assets due within a year against $23m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $47m short-term assets against $25m 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 Operating income of $16m against $325,000 of interest.

From Lifeway 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

Diluted share count
+2.4%
year over year
Days sales outstanding
34 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in packaged foods & meats
Last 12 months unless stated LWAY BRID MAMA MED AFRI WYHG Median
Revenue, last 12 months $242m $228m $209m $300m $176m $135m $1.5bn
Revenue growth, last 12 months 25.6% 0.4% 53.9% −30.3% −35.6% −6.5% 2.1%
Revenue growth, 3-year average 17.1% −3.5% 28.9% −37.4% — — 1.5%
Revenue growth, latest quarter 24.1% −9.5% 55.0% −19.4% — — −1.8%
Gross margin 25.6% 18.8% 24.3% 69.2% 10.4% 29.2% 25.6%
Operating margin 6.5% −8.8% 4.5% −11.6% −2.0% — 3.1%
Operating margin, 3-year average 8.0% −4.8% 5.0% −3.8% — — 4.8%
Net margin 4.5% −6.4% 3.5% −13.6% −8.4% 5.9% 2.1%
Cash from operations / revenue 4.6% −1.8% 9.1% −0.0% 0.2% −9.7% 8.0%
Free-cash-flow margin −11.3% −4.5% 8.3% −1.3% −0.1% −13.1% 3.9%
Free-cash-flow margin, 3-year average −1.0% −2.7% 5.8% 1.3% — — 5.7%
Stock pay / revenue 0.9% — 1.3% 2.6% 0.2% — 0.6%
Change in share count 2.4% 0.0% 10.9% 0.6% 0.1% 4.5% 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 25.6% 2.2% 7 of 44
Change in growth rate Growth +3.7pp -1.0pp 7 of 44
Gross margin Profitability 25.6% 25.6% 22 of 43
Operating margin Profitability 6.5% 3.4% 14 of 42
Net margin Profitability 4.5% 2.3% 14 of 44
Free-cash-flow margin Cash generation -11.3% 4.3% 37 of 43
Stock pay as % of revenue Cash generation 0.9% 0.6% 24 of 39
Change in share count Balance sheet 2.4% 0.1% 32 of 40
Days sales outstanding Balance sheet 34 days 33 days 24 of 35

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

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Net Sales $212M 100.0% ▲ 13.7%
Drinkable Kefirotherthan Pro Bugs $181M 85.4% ▲ 18.2%
Cheese $16.6M 7.8% ▲ 13.9%
Cream and Other $8.7M 4.1% ▲ 4.7%
Drinkable Yogurt $2.3M 1.1% ▼ 59.4%
Pro Bugs Kefir $2.2M 1.0% ▼ 35.3%
Other Dairy $1.3M 0.6% ▼ 8.6%

From Lifeway Foods, Inc.'s 10-K filed March 17, 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
$246M
Institutions reporting
97
Shares held vs prior quarter
▲ 66.1%
Positions opened / closed
31 / 13

Top buyers and sellers, Q2 2026: 68 institutions bought and 26 sold ; the biggest buyer was Citadel Advisors LLC (+858K shares) and the biggest seller Cresset Asset Management, LLC (−508K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Divisadero Street Capital Management, LP $62.7M 2.1M 25.5% ▲ 49.2%
Citadel Advisors LLC $27.8M 930K 11.3% ▲ 1194.0%
Wellington Management Group LLP $17.5M 585K 7.1% New
Renaissance Technologies LLC $11.3M 377K 4.6% ▲ 2.3%
Vanguard Capital Management LLC $10.9M 367K 4.4% ▲ 40.0%
Blackrock, Inc. $9.6M 322K 3.9% ▲ 16.0%
Pillsbury Lake Capital LLC $8.7M 292K 3.5% New
Dimensional Fund Advisors LP $7.7M 258K 3.1% ▲ 9.6%
Two Sigma Investments, LP $6.8M 228K 2.8% ▲ 90.7%
Awm Investment Company, Inc. $6.7M 223K 2.7% New
GAMCO Investors, Inc. Et Al $6.4M 214K 2.6% ▼ 0.2%
Tudor Investment Corp Et Al $6.3M 210K 2.5% ▼ 21.2%

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 Lifeway Foods, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $16.7M 15 trades by 3 insiders, last 12 months Insider sales History → $98.4M 41 trades by 3 insiders · 0% under pre-set plans
Net ▼ $81.7M net selling
Insider Date Trade Shares Price Value
Smolyansky Edward 10% owner October 13, 2026 Sell 30,000 $22.64 $679,200
Divisadero Street Capital Management, Lp 10% owner October 6, 2026 Buy 50,000 $20.80 $1M
Divisadero Street Capital Management, Lp 10% owner October 5, 2026 Buy 36,202 $21.01 $760,535
Divisadero Street Capital Management, Lp 10% owner October 2, 2026 Buy 17,482 $21.09 $368,669
Smolyansky Julie CEO, President and Secretary August 19, 2026 Buy 2,000 $25.26 $50,520
Divisadero Street Capital Management, Lp 10% owner August 17, 2026 Buy 35,952 $24.78 $890,891
Smolyansky Edward 10% owner August 14, 2026 Sell 29,931 $24.89 $744,983
Smolyansky Edward 10% owner August 14, 2026 Sell 45,038 $25.82 $1.2M
Smolyansky Edward 10% owner August 14, 2026 Sell 31 $26.50 $822
Divisadero Street Capital Management, Lp 10% owner August 14, 2026 Buy 15,000 $24.69 $370,350
Divisadero Street Capital Management, Lp 10% owner August 13, 2026 Buy 195,616 $24.87 $4.9M
Smolyansky Edward 10% owner August 12, 2026 Sell 35,000 $28.74 $1M

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

  • August 13, 2026
  • May 14, 2026
  • April 1, 2026
  • March 17, 2026
  • January 8, 2026
  • November 12, 2025

Recent SEC filings

Data status

When each part of this page on Lifeway 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.

Lifeway Foods, Inc. in brief

What does Lifeway Foods, Inc. do?
Lifeway Foods, Inc. is a US-listed company in the packaged foods & meats industry. Its financial year ends in December.
What is Lifeway Foods, Inc.'s stock ticker?
Lifeway Foods, Inc. trades under the ticker LWAY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Lifeway Foods, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Lifeway Foods, Inc. reported revenue of $242M, 25.6% higher than a year earlier, according to its SEC filings.
What is Lifeway Foods, Inc.'s free cash flow?
Lifeway Foods, Inc.'s free-cash-flow margin is -11.3% of revenue over the trailing twelve months, ranking 37 of the 43 packaged foods & meats companies we cover.
Who are Lifeway Foods, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Divisadero Street Capital Management, LP, Citadel Advisors LLC and Wellington Management Group LLP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Lifeway Foods, Inc.'s market cap?
On November 2, 2026, Lifeway Foods, Inc.'s market capitalisation was about $347M, with a price-to-earnings ratio of 31.9 and net debt of $14.9M. Market figures come from third-party market data and may be delayed.
Who are Lifeway Foods, Inc.'s competitors?
In our Packaged Foods & Meats peer group, the companies closest to Lifeway Foods, Inc. are Bridgford Foods Corp, Mama's Creations, Inc., Medifast Inc, Forafric Global PLC and Wing Yip Food Holdings Group Ltd. The side-by-side comparison below sets their revenue, margins and growth against Lifeway Foods, Inc.'s.
Are insiders buying or selling Lifeway Foods, Inc. stock?
Over the last 12 months, Lifeway Foods, Inc.'s directors and officers reported 15 open-market purchases and 41 sales on Form 4. The insider trading page charts every trade.
When is Lifeway Foods, Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Lifeway Foods, Inc. announces its own schedule.