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Packaged and frozen food company behind brands like Birds Eye, Marie Callender's and Slim Jim.
Packaged and frozen food company behind brands like Birds Eye, Marie Callender's and Slim Jim.
Sells packaged and frozen food mostly to supermarket chains and mass retailers, which also push their own-label lines, so shelf space and promotions decide volume. Frozen foods are the core. The 2018 purchase of Pinnacle Foods added Birds Eye and made frozen a larger share of the company.
Moat: none (brand, distribution). Legacy brand portfolio faces heavy private-label competition and thin differentiation in frozen/grocery aisles.
Headquarters: Chicago, Illinois, US · Founded: 1919 · Employees: 17,400
Size Conagra Brands (CAG) is a United States Consumer Staples company (Food: Major Diversified) with a market value of $7.28B, the 940th largest of 3,117 United States companies the cockpit tracks. Shares closed at $15.24 on 6 Nov 2026.
Performance Over six months the shares gained 7.9%, against +2.6% for the median peer and -1.1% for the United States market (cap-weighted) — 6th highest of 14 in its peer set.
Growth Revenue fell 1.8% over the last twelve months (peer median +4.9%); the operating margin is 11.2% (peer median 11.4%).
Valuation It trades at 10.6× forward earnings against a peer median of 20.9× (2nd cheapest of 13).
Price implies For today's price to make sense, revenue must grow about -5% a year for seven years (Req g). Recent delivered growth is 0%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.3 points above its cost of capital (5.9% WACC).
Credit Conagra Brands has 10 bonds outstanding ($6.66B), rated BBB- by the agencies and trading like BBB- at a weighted spread of 122 bp.
Short interest Short interest is 8.6% of the free float (15 Oct 2026).
Next results Next results expected around 1 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $11.2B | $11.3B | $11.6B | $12.1B | $12.3B |
| Revenue growth | — | -3% | -4% | -2% | — |
| Gross profit | $2.68B | $2.69B | $3.01B | $3.35B | $3.28B |
| EBITDA | $1.66B | $1.64B | $2.04B | $2.34B | $2.24B |
| Net income | -$1.91B | -$1.92B | $1.15B | $347M | $683M |
| Free cash flow | $877M | $979M | $1.30B | $1.63B | $633M |
| Capital expenditure | $400M | $423M | $389M | $388M | $362M |
| Total debt | $7.76B | $7.48B | $8.31B | $8.65B | $9.47B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Conagra Brands CAG | $7.28B | +8% | -2% | 11% | 10.6× | -4.9% |
| Kraft Heinz KHC | $29.2B | +5% | -2% | 17% | 12.5× | -3.9% |
| General Mills GIS | $19.0B | +2% | -4% | 15% | 11.4× | -6.7% |
| Campbell's CPB | $6.90B | +11% | -5% | 11% | 13.7× | -3.6% |
| Hormel Foods HRL | $12.1B | +7% | +1% | 7% | 14.4× | 0.9% |
| J.M. Smucker Company (The) SJM | $13.9B | +33% | +5% | 19% | 12.9× | -7.1% |
| Tyson Foods TSN | $20.6B | -13% | +3% | 3% | 17.4× | 6.7% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CAG | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.3% | +7.4% | 2nd highest of 14 |
| 6-month return | +7.9% | +2.6% | 6th highest of 14 |
| Distance from 52-week high | -25.0% | -21.6% | 5th lowest of 14 |
| Revenue growth (TTM) | -1.8% | +4.9% | 3rd lowest of 14 |
| Operating margin | 11.2% | 11.4% | 7th lowest of 14 |
| Forward P/E | 10.6× | 20.9× | 2nd cheapest of 13 |
| Growth the price implies (Req g, 7 yrs) | -4.9% | 6.8% | 3rd least demanding of 12 |
| Growth delivered (Del g) | +0.2% | +3.9% | 3rd lowest of 12 |
| Hurdle (Req g minus delivered) | -5.1 pp | +1.3 pp | 4th least demanding of 12 |
| ROIC minus cost of capital | +1.3 pp | +4.3 pp | 5th lowest of 14 |
| EV / EBITDA | 8.8× | 10.8× | 3rd cheapest of 9 |
| Net debt / EBITDA | 4.5× | -0.1× | 2nd most indebted of 10 |
| Bond spread | 122 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Conagra Brands CAG | United States | $7.28B | +8% | -2% | 11% | 10.6× | -4.9% | +0.2% |
| SamyangFood 003230.KS | South Korea | $6.70B | -9% | +38% | 23% | 16.3× | -6.6% | +29.4% |
| CSPC Innovation Pharmaceutical 300765.SZ | China | $6.48B | +14% | +117% | 26% | 40.6× | 13.9% | +10.5% |
| Hebei Yangyuan Zhihui Beverage 603156.SS | China | $6.06B | -15% | +12% | 28% | 26.5× | 9.9% | +3.9% |
| Kewpie 2809.T | Japan | $4.07B | +11% | +4% | 7% | 24.2× | 0.6% | -0.7% |
| Associated British Foods ABF.L | United Kingdom | $18.7B | +11% | +1% | 7% | 13.5× | 7.8% | +7.1% |
| General Mills GIS | United States | $19.0B | +2% | -4% | 15% | 11.4× | -6.7% | +0.3% |
| Olam VC2.SI | Singapore | $2.55B | -29% | -40% | 2% | 17.6× | -3.7% | -3.7% |
| Yihai Kerry Arawana 300999.SZ | China | $21.3B | -8% | +2% | 1% | 37.3× | n/a | n/a |
| Chagee Holdings Limited Unsponsored ADR CHA | United States | $2.44B | +19% | 0% | 11% | 7.9× | -4.1% | +190.8% |
| ITO EN,Ltd 2593.T | Japan | $2.12B | +14% | +5% | 5% | 26.0× | n/a | n/a |
| Dongsuh 026960.KS | South Korea | $2.06B | +6% | +6% | 8% | n/a | 16.2% | +1.6% |
| Nestle India NESTLEIND.NS | India | $26.0B | -13% | +22% | 21% | 59.4× | 36.6% | +11.7% |
| Yihai International 1579.HK | Hong Kong | $2.02B | +3% | +11% | 18% | 14.2× | 6.8% | +3.6% |
Conagra Brands has 10 bonds outstanding with $6.66B face value. The agencies rate it BBB-; its bonds trade like BBB-. Weighted yield 5.99%, a spread of 122 bp over government bonds.