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Smithfield Foods Inc key statistics and ratios

In fiscal 2025, Smithfield Foods Inc had return on equity of 15.6%, an operating margin of 8.3%, debt equal to 29.5% of equity and a current ratio of 2.97. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Fiscal year2009May 20092010May 20102011May 20112012Apr 20122013Dec 20132014Dec 20142015Jan 20162022Jan 20232023Dec 20232024Dec 20242025Dec 2025LTMSept 2026
Gross margin5.0%6.5%14.0%11.8%8.7%11.8%12.2%9.2%6.1%13.4%13.5%12.6%
Operating margin−1.8%0.6%9.0%5.5%2.4%6.2%5.5%6.9%−0.4%7.9%8.3%7.6%
Net margin−1.6%−0.9%4.3%2.8%0.9%3.7%3.1%5.4%0.1%6.7%6.4%5.9%
Free-cash-flow margin0.7%0.7%3.6%2.1%———1.1%2.3%4.0%4.6%6.1%
Return on equity−7.6%−3.8%16.5%10.4%3.2%12.7%9.7%14.3%0.2%14.6%15.6%13.0%
Return on assets—−1.3%6.8%4.8%1.4%5.5%4.5%—0.1%7.8%8.5%7.4%
Asset turnover—1.451.591.741.601.501.44—1.101.161.341.25
Current ratio—2.792.722.902.702.552.42—2.012.462.972.39
Debt to equity0.0%109.2%59.9%58.0%72.0%60.1%47.5%0.0%28.1%34.3%29.5%28.6%
Interest cover (operating income ÷ interest)n/m0.2x4.5x4.1x———12.8xn/m16.9x31.5x38.3x
Effective tax rate———————22.1%—25.5%22.3%21.5%
R&D as % of revenue—0.3%0.4%0.6%———1.0%1.2%1.0%1.4%—
SG&A as % of revenue6.4%6.3%6.5%6.2%———5.0%7.2%5.9%5.5%5.1%
Capital spending as % of revenue1.4%1.6%1.4%2.2%2.0%2.0%—2.1%2.4%2.5%2.2%2.5%
Free cash flow ÷ net income——84.4%77.3%———21.0%>999%59.4%72.7%103.0%
Dividends ÷ net income———————57.0%>999%30.2%40.1%—
Dividends and buybacks ÷ free cash flow—0.0%0.0%67.8%———271.0%96.4%50.9%55.2%—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

4 of 5 checks passed · September 27, 2026
What it owns · $12.2bn
Short-term assets $5.1bnLonger-term assets $7.0bn
What it owes, and who funded it · $9.2bn
Short-term liabilities $2.1bnShareholders' equity $7.0bn
  • Short-term assets cover short-term liabilities $5.1bn of assets due within a year against $2.1bn 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 $1.2bn of cash against $1.4bn of debt.
  • Debt below 40% of shareholders' equity Debt is 20% of equity.
  • 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 $1.3bn of operating cash flow against $1.4bn of debt.
  • Operating profit covers interest at least five times over Operating income of $1.1bn against $30m of interest.

From Smithfield 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.

Moat

43 /100

Weak moat

How hard Smithfield Foods's competitive advantage looks for rivals to wear away, judged from 5 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 5 years.

  • Pricing power 8 / 20

    Gross margin has been a median 11.9%, moving by 1.3 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Operating margin has been a median 6.1%; its worst year was 4.6%.

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.

Compare with peers

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Figures from Smithfield Foods Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Smithfield Foods Inc.