← Research LibraryThe BriefFY2025 10-K (fiscal year ended October 26, 2025) · headline figures audited against SEC data
Hormel grew sales in every segment to $12.11B, but commodity inflation and $235 million of impairments cut net income 40.6% to $478.2M in a year that also brought a CEO transition
The read at a glance✓ Audited against SEC data
- Growth — Net sales up 1.6% to $12.11B; organic net sales up 2.5%; volume down 2.3%Note
- Profitability — Net income down 40.6% to $478.2M; operating margin down 302 bps to 5.94%Watch
- Cash flow — Free cash flow down 47.1% to $534.3M as capital spending rose 21.2%Watch
- Accounting quality — Grey-zone balance-sheet screen; no manipulation flag; earnings quality safeNote
- Capital allocation — Record dividends of $633.2M, more than free cash flow; no buybacksNote
- Leadership — Interim CEO since July 2025; interim CFO named October 2025Watch
Business
Hormel Foods, founded in 1891 in Austin, Minnesota, is a branded food company with brands including Planters, SPAM, Jennie-O, Skippy, Applegate, Wholly, Hormel Black Label and Fontanini. It sells mainly through U.S. retail and foodservice channels, buys pork, turkey, beef, chicken and nuts as its main raw materials, and counts Walmart as its largest customer at 15.6 percent of gross sales. The Hormel Foundation is the beneficial holder of approximately 46% of the stock.
Where the revenue comes from
Fiscal 2025, as HORMEL FOODS CORP /DE/ reports it. History and quarterly detail are in the app.
- Retail$7.5B
- Foodservice$3.9B
- International$709.1M
Leadership changes
From HORMEL FOODS CORP /DE/'s own filings, the day they're filed.
- John F. Ghingo · President · appointmenteff. 2026-10-26
- John F. Ghingo · President · appointmenteff. 2025-07-14
- Jeffrey M. Ettinger · Chief Executive Officer · appointmenteff. 2025-07-14
Latest filings
- 8-K · Company announcement2026-09-30
- 10-Q · Quarterly report2026-08-27
- 8-K · Company announcement2026-08-27
- 8-K · Company announcement2026-08-24
- 8-K · Company announcement2026-07-28
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about HORMEL FOODS CORP /DE/, every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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