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Makes frozen potato products, mainly french fries, supplied to restaurants and retail grocery.
Makes frozen potato products, mainly french fries, supplied to restaurants and retail grocery.
Sells french fries to restaurant chains and distributors under supply agreements and buys potatoes from contracted farmers, so crop yields, restaurant traffic and factory costs drive results. It was spun out of Conagra in 2016 and is one of a few large frozen-potato suppliers, alongside McCain, Simplot and Cavendish.
Moat: narrow (scale, installed base, customer qualification). Long-term supply contracts with major QSR chains and large-scale potato processing plants.
Headquarters: Eagle, Idaho, US · Founded: 1950 · Employees: 10,000
Size Lamb Weston (LW) is a United States Consumer Staples company (Food: Specialty/Candy) with a market value of $7.61B, the 916th largest of 3,117 United States companies the cockpit tracks. Shares closed at $55.24 on 6 Nov 2026.
Performance Over six months the shares gained 31.5%, against +0.5% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Growth Revenue grew 2.6% over the last twelve months (peer median +6.8%); the operating margin is 9.5% (peer median 11.0%).
Valuation It trades at 16.6× forward earnings against a peer median of 16.5× (11th cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -9 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.2 points above its cost of capital (6.6% WACC).
Credit Lamb Weston has 2 bonds outstanding ($1.20B), rated BB by the agencies and trading like BBB- at a weighted spread of 115 bp.
Short interest Short interest is 7.0% 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 | $6.62B | $6.61B | $6.45B | $6.47B | $5.35B |
| Revenue growth | — | +2% | 0% | +21% | — |
| Gross profit | $1.26B | $1.29B | $1.37B | $1.76B | $1.43B |
| EBITDA | $1.03B | $1.07B | $1.24B | $1.42B | $1.06B |
| Net income | $255M | $290M | $357M | $726M | $1.01B |
| Free cash flow | $412M | $540M | $230M | -$131M | $108M |
| Capital expenditure | $422M | $410M | $672M | $992M | $736M |
| Total debt | $3.96B | $4.04B | $4.25B | $3.97B | $3.62B |
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 |
|---|---|---|---|---|---|---|
| Lamb Weston LW | $7.61B | +31% | +3% | 10% | 16.6× | 4.0% |
| Kraft Heinz KHC | $29.2B | +5% | -2% | 17% | 12.5× | -3.9% |
| Conagra Brands CAG | $7.28B | +8% | -2% | 11% | 10.6× | -4.9% |
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 | LW | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.7% | +5.4% | 6th highest of 21 |
| 6-month return | +31.5% | +0.5% | 2nd highest of 21 |
| Distance from 52-week high | -12.4% | -18.2% | 7th highest of 21 |
| Revenue growth (TTM) | +2.6% | +6.8% | 5th lowest of 21 |
| Operating margin | 9.5% | 11.0% | 6th lowest of 21 |
| Forward P/E | 16.6× | 16.5× | 11th cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 4.0% | -2.1% | 7th most demanding of 18 |
| Growth delivered (Del g) | +12.5% | +8.7% | 4th highest of 18 |
| Hurdle (Req g minus delivered) | -8.5 pp | -9.4 pp | 8th most demanding of 18 |
| ROIC minus cost of capital | +2.2 pp | +3.6 pp | 8th lowest of 21 |
| EV / EBITDA | 11.1× | 10.5× | 10th cheapest of 19 |
| Net debt / EBITDA | 3.7× | 0.9× | 4th most indebted of 19 |
| Bond spread | 115 bp | 107 bp | 4th widest of 8 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lamb Weston LW | United States | $7.61B | +31% | +3% | 10% | 16.6× | 4.0% | +12.5% |
| Meiji 2269.T | Japan | $7.35B | +14% | +4% | 8% | 17.2× | n/a | n/a |
| Darling Ingredients DAR | United States | $7.92B | -20% | +16% | 9% | 7.3× | 9.0% | +11.4% |
| Barry Callebaut BARN.SW | Switzerland | $8.33B | +5% | +9% | 5% | 23.7× | -8.4% | +16.5% |
| Campbell's CPB | United States | $6.90B | +11% | -5% | 11% | 13.7× | -3.6% | +2.8% |
| Toyo Suisan Kaisha 2875.T | Japan | $6.74B | -4% | +7% | 17% | 14.5× | -5.0% | +9.5% |
| Ingredion INGR | United States | $5.78B | -15% | -1% | 12% | 9.7× | -7.8% | +3.8% |
| Nissin Foods 2897.T | Japan | $5.73B | +9% | +5% | 6% | 17.9× | n/a | n/a |
| Balchem BCPC | United States | $5.54B | +8% | +9% | 22% | 30.9× | 14.5% | +8.1% |
| Orkla ORK.OL | Norway | $10.8B | -6% | 0% | 10% | 15.5× | -1.1% | +8.7% |
| Kikkoman 2801.T | Japan | $10.9B | +24% | +9% | 11% | 24.8× | 8.8% | +11.2% |
| Yamazaki Baking 2212.T | Japan | $5.08B | +21% | +5% | 5% | 18.0× | -3.3% | +5.3% |
| Tata Consumer Products TATACONSUM.NS | India | $11.4B | -6% | +15% | 11% | 55.5× | 42.8% | +11.8% |
| Sensient Technologies SXT | United States | $5.07B | +1% | +10% | 15% | 25.0× | n/a | n/a |
| Angel Yeast 600298.SS | China | $4.97B | +2% | +15% | 11% | 19.1× | 4.1% | +13.4% |
| Aak AAK.ST | Sweden | $4.88B | -30% | -1% | 10% | 13.6× | -6.0% | +10.5% |
| Britannia Industries BRITANNIA.NS | India | $12.1B | -18% | +7% | 17% | 41.7× | 28.9% | +7.8% |
| McCormick & MKC | United States | $13.0B | 0% | +13% | 17% | 15.9× | 3.2% | +4.1% |
| J.M. Smucker Company (The) SJM | United States | $13.9B | +33% | +5% | 19% | 12.9× | -7.1% | +2.5% |
| Anjoy Foods 2648.HK | Hong Kong | $3.83B | -20% | +24% | 12% | 11.6× | -2.9% | +17.5% |
| Post POST | United States | $3.65B | -19% | +6% | 10% | 11.8× | -2.1% | +7.4% |
Lamb Weston has 2 bonds outstanding with $1.20B face value. The agencies rate it BB; its bonds trade like BBB-. Weighted yield 5.78%, a spread of 115 bp over government bonds.