{ "ok": true, "cik": "48465", "ticker": "HRL", "name": "HORMEL FOODS CORPORATION", "filings": [ { "form": "10-Q", "filed": "2026-08-27", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000055/0000048465-26-000055-index.htm" }, { "form": "8-K", "filed": "2026-08-27", "items": [ "2.02 Results of Operations and Financial Condition", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000053/0000048465-26-000053-index.htm" }, { "form": "8-K", "filed": "2026-08-24", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000049/0000048465-26-000049-index.htm" }, { "form": "8-K", "filed": "2026-07-28", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers" ], "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000047/0000048465-26-000047-index.htm" }, { "form": "8-K", "filed": "2026-06-12", "items": [ "5.02 Departure or Election of Directors; Appointment of Officers", "9.01 Financial Statements and Exhibits" ], "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000044/0000048465-26-000044-index.htm" }, { "form": "10-Q", "filed": "2026-05-28", "items": [], "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000026/0000048465-26-000026-index.htm" } ], "events12m": 11, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "2.05", "label": "Restructuring or exit costs", "count": 1, "latest": { "filed": "2025-11-04", "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846525000053/0000048465-25-000053-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 5, "latest": { "filed": "2026-08-24", "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000049/0000048465-26-000049-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000048465.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=48465" }, "license": "Figures as filed with the SEC. Card text CC BY 4.0, POPS4.", "notAdvice": "Reporting, not investment advice. No price targets and no trading recommendations.", "edgar": "🫧 Edgar looked up HORMEL FOODS CORPORATION ($HRL). Last filing: 10-Q, 2026-08-27. 11 event filings (8-K) in the past twelve months.", "auditor": { "changes": [], "nonReliance": [], "restatedSince": null }, "metrics": { "fiscalYearEnd": "2025-10-26", "revenue": 12106160000, "revenueGrowth1y": 0.015549547568002309, "revenueGrowthPerYear": 0.015499855279292873, "yearsOfData": 5, "operatingMargin": 0.05935845883418028, "operatingMarginPrior": 0.08958562082719805, "netMargin": 0.03950030397747924, "operatingCashFlow": 845251000, "capitalSpending": 310902000, "freeCashFlow": 534349000, "researchAndDevelopment": 35200000, "researchShareOfRevenue": 0.0029076106709311623, "cash": 670679000, "longTermDebt": 2857424000, "longTermDebtChange": -0.0004662865714014641, "revenueHistory": [ { "fiscalYearEnd": "2021-10-31", "revenue": 11386189000 }, { "fiscalYearEnd": "2022-10-30", "revenue": 12458806000 }, { "fiscalYearEnd": "2023-10-29", "revenue": 12110010000 }, { "fiscalYearEnd": "2024-10-27", "revenue": 11920797000 }, { "fiscalYearEnd": "2025-10-26", "revenue": 12106160000 } ], "totalEquity": 7901171000, "totalAssets": 13393119000, "equityRatio": 0.5899425667762678, "returnOnEquity": 0.06052229473327435, "dividendsPaid": 633192000, "payoutRatio": 1.3241237397976149, "dividendPerShare": 1.16, "dividendYearsRising": 11, "dividendCut": false, "priceBased": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown.", "earningsPerShare": 0.87, "sharesOutstanding": 550496000, "bookValuePerShare": 14.352821818868803, "revenuePerShare": 21.991367784688716, "range80": { "low": 10819247572.526049, "high": 12745192601.35004, "baseline": 12142624451.72338, "n": 1471, "band": "b10", "bandLabel": "$10B+", "method": "v4.1", "credibility": 0.5, "growthYears": 4, "ownVolatility": 0.05309526073670623, "classVolatility": 0.06659579566308972, "volatility": 0.06022502267620502 }, "ifPaceHeld": { "low": 10819247572.526049, "high": 12745192601.35004 } }, "edgarette": "🔖 Exposure: revenue $12.1B (FY2025), total debt $2.9B. Experience: revenue up 1.6% on the year, up 1.5% a year over 4 years; operating margin 5.9%, down from 9.0%. Soundness: equity 59.0% of assets, return on equity 6.1%, payout 132.4% of profit, dividend per share up 11 years running. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $10.8B and $12.7B next year (method v4.1: its own 4-year record of growth weighed at 50% against $10B+ filers; on a year the method never saw, 83.4% landed inside). In a shock year the stress range is $10.1B to $13.6B. A statistical range, not company guidance. Against peers (47 filers, $50M+ revenue, its industry group): operating margin 5.9% against a 7.4% median; growth 1.6% against 2.7%.", "peers": { "sic": 2011, "sicDescription": "Meat Packing Plants", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "20", "growth": [ 0.0273, 50 ], "opMargin": [ 0.0737, 47 ], "equityRatio": [ 0.4422, 46 ], "returnOnEquity": [ 0.0949, 41 ], "payoutRatio": [ 0.7155, 23 ] }, "summary": "Hormel Foods (HRL) grew revenue 1.6% in FY2025 to $12.1 billion, operating margin 5.9% against a 7.4% median for meat packing plants, equity 59.0% of assets, and dividend per share up 11 years running. Every figure is from the company’s own annual report filed with the SEC.", "chart": "
HORMEL FOODS CORPORATION against its own record and its peers
Operating marginPeer median 7.4%5.9%Revenue, on the yearPeer median 2.7%1.6%Equity of assetsPeer median 44.2%59.0%Return on equityPeer median 9.5%6.1%Payout of profitPeer median 71.5%132.4%Gold tick: the median of 23–46 peers with $50M+ revenue in meat packing plants
", "chartHorizon": "
Handed back now, or kept to compound
Of each dollar of profit120.0% paid outMore was paid out than was earned in the year.Handed back per share$1.16up 11 years runningGrowth its own profit can fund0.0%retained x return on equityRevenue growth it managed1.6%last year, for comparison

Gold is paid out to shareholders; navy is kept in the business. Retained profit times return on equity is the pace a company can fund from itself. Facts from the filings, not a recommendation.

", "backtest": { "tests": 14, "hits": 12, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:32:32.413Z", "hash": "a3c4cefbdb725b47", "status": "open" }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "schema": "pops4.edgarette.card/1", "card": { "summary": "Hormel Foods (HRL) grew revenue 1.6% in FY2025 to $12.1 billion, operating margin 5.9% against a 7.4% median for meat packing plants, equity 59.0% of assets, and dividend per share up 11 years running. Every figure is from the company’s own annual report filed with the SEC.", "exposure": { "fiscalYearEnd": "2025-10-26", "revenue": 12106160000, "totalDebt": 2857424000, "cash": 670679000 }, "experience": { "revenueGrowth1y": 0.015549547568002309, "revenueGrowthPerYear": 0.015499855279292873, "operatingMargin": 0.05935845883418028, "operatingMarginPrior": 0.08958562082719805, "netMargin": 0.03950030397747924, "freeCashFlow": 534349000 }, "soundness": { "equityRatio": 0.5899425667762678, "returnOnEquity": 0.06052229473327435, "payoutRatio": 1.3241237397976149, "dividendPerShare": 1.16, "dividendYearsRising": 11, "dividendCut": false, "note": "Dividend yield, price/earnings and price/book need a share price. The boards carry filings only, so they are not shown." }, "peers": { "sic": 2011, "sicDescription": "Meat Packing Plants", "calendarYear": 2025, "minRevenue": 50000000, "depth": 2, "group": "20", "growth": [ 0.0273, 50 ], "opMargin": [ 0.0737, 47 ], "equityRatio": [ 0.4422, 46 ], "returnOnEquity": [ 0.0949, 41 ], "payoutRatio": [ 0.7155, 23 ] }, "credibility": { "auditedYears": 5, "weight": "reasonable", "standard": "ASOP No. 25", "nonReliance": null, "auditorChange": null }, "healthWatch": { "window": "last 12 months", "since": "2025-09-26", "signals": [ { "code": "2.05", "label": "Restructuring or exit costs", "count": 1, "latest": { "filed": "2025-11-04", "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846525000053/0000048465-25-000053-index.htm" } }, { "code": "5.02", "label": "Director or officer change", "count": 5, "latest": { "filed": "2026-08-24", "url": "https://www.sec.gov/Archives/edgar/data/48465/000004846526000049/0000048465-26-000049-index.htm" } } ], "note": "Events the company itself filed with the SEC, most serious first. Shown beside the figures; they do not change the range or its receipt." }, "range": { "low": 10819247572.526049, "high": 12745192601.35004, "baseline": 12142624451.72338, "coverage": 0.8, "method": "v4.1", "basis": "next fiscal year revenue: baseline = revenue x (1 + mean of one-year and three-year pace); width = the company's own volatility of yearly growth, credibility-weighted against its size class (Buhlmann), scaled to the 80% target on 2023 and tested on 2024", "calibratedOn": { "companyYears": 1471, "sizeBand": "$10B+", "fitYears": [ 2018, 2022 ], "tuneYear": 2023, "testYear": 2024, "coverageOnTestYear": 0.8341 }, "credibility": { "weightOnOwnRecord": 0.5, "growthYears": 4, "ownVolatility": 0.05309526073670623, "classVolatility": 0.06659579566308972, "pricedVolatility": 0.06022502267620502, "k": 3 }, "stress": { "low": 10067974564.567444, "high": 13609961692.164297, "basis": "the same range with widths set to hold 80% across 2018-2023, pandemic years included" }, "kind": "a statistical range, not company guidance; no view on the share price", "track": { "backtest": { "tests": 14, "hits": 12, "rate": 0.8571428571428571, "method": "v4", "byYear": { "2012": [ 1, 1 ], "2013": [ 1, 1 ], "2014": [ 1, 1 ], "2015": [ 1, 1 ], "2016": [ 1, 1 ], "2017": [ 1, 1 ], "2018": [ 1, 1 ], "2019": [ 1, 1 ], "2020": [ 1, 1 ], "2021": [ 0, 1 ], "2022": [ 1, 1 ], "2023": [ 0, 1 ], "2024": [ 1, 1 ], "2025": [ 1, 1 ] }, "note": "hindsight: the same credibility-weighted range on the company's own past years. Years 2018-2023 were used to fit or tune the method, so only 2025 outcomes are fully out of sample." }, "registry": { "logged": "2026-09-26T16:32:32.413Z", "hash": "a3c4cefbdb725b47", "status": "open" }, "scorecard": "https://www.pops4.com/boards/scorecard" } }, "caution": "Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.", "sources": { "facts": "https://data.sec.gov/api/xbrl/companyfacts/CIK0000048465.json", "filings": "https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=48465" }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0698, "growth3y": -0.0095, "volatility": 0.0531, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.5961, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "steady", "inside": "Turns 7.0% of revenue into operating cash; revenue shrinking 0.9% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 28th percentile for cash, 23rd for growth.", "emoji": "🐂", "label": "Steady earner", "plain": "steady and paying a dividend, with average cash" }, "band": "$10B+", "cashPctInClass": 28, "growthPctInClass": 23, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "warning", "text": "filed restructuring or exit costs in the last 12 months" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-10-26", "operating": 845251000, "investing": -298592000, "financing": -613996000, "capitalSpending": 310902000, "free": 534349000, "trend": [ { "fiscalYearEnd": "2021-10-31", "operating": 1001934000, "free": 769518000 }, { "fiscalYearEnd": "2022-10-30", "operating": 1134977000, "free": 856059000 }, { "fiscalYearEnd": "2023-10-29", "operating": 1047847000, "free": 777636000 }, { "fiscalYearEnd": "2024-10-27", "operating": 1266738000, "free": 1010297000 }, { "fiscalYearEnd": "2025-10-26", "operating": 845251000, "free": 534349000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-10-26", "cash": 670679000, "shortTerm": 32909000, "longTerm": null, "equityHoldings": null, "totalAssets": 13393119000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }, "definitions": { "operatingMargin": "Operating income divided by revenue.", "netMargin": "Net income divided by revenue.", "freeCashFlow": "Cash from operations minus spending on property and equipment.", "researchShareOfRevenue": "Research and development expense for the year as a share of revenue, both as filed.", "equityRatio": "Shareholders equity as a share of total assets, both as filed. Higher means less of the company is owed to someone else.", "returnOnEquity": "Net income for the year against shareholders equity at year end.", "payoutRatio": "Dividends paid as a share of net income, in the year the cash went out.", "dividendYearsRising": "Consecutive years, counted back from the last on record, in which dividend per share rose. A fall ends the run and is reported as dividendCut.", "revenueGrowthPerYear": "Compound annual growth between the first and latest fiscal years shown.", "credibility": "How much weight a record deserves, in the actuarial sense (ASOP No. 25): more audited years, more weight.", "peers": "Medians of SEC filers with $50M+ revenue in the same industry code (SIC), narrowest group with at least 8 filers, calendar-year figures from SEC XBRL frames.", "backtest": "The same range method applied to the company's own past years, scored against what it actually reported next. Hindsight, and labelled so.", "healthWatch": "Distress-type events the company filed in the last 12 months (late-filing notices; 8-K items 1.03, 3.01, 2.04, 4.02, 4.01, 2.05, 2.06, 1.05, 5.02), each with its count and newest filing. Display only: they do not change the range or its receipt." }, "speedCash": { "fiscalYear": 2025, "cashConversion": 0.0698, "growth3y": -0.0095, "volatility": 0.0531, "paysDividend": true, "raisedDividend": true, "equityRatio": 0.5961, "quadrant": { "code": "ss", "label": "Slow and steady", "plain": "growing slower than its size class, with steadier revenue" }, "compass": { "code": "steady", "inside": "Turns 7.0% of revenue into operating cash; revenue shrinking 0.9% a year over three years; pays and raised its dividend.", "outside": "Among $10B+ companies: 28th percentile for cash, 23rd for growth.", "emoji": "🐂", "label": "Steady earner", "plain": "steady and paying a dividend, with average cash" }, "band": "$10B+", "cashPctInClass": 28, "growthPctInClass": 23, "source": "SEC XBRL frames, the company’s own audited figures; quadrant split at the median of its size class" }, "harbor": { "signs": [ { "key": "warning", "text": "filed restructuring or exit costs in the last 12 months" } ], "rule": "Boat condition = number of warning signs: a serious warning filing in 12 months; liabilities over assets; slow and jumpy; negative operating cash; an 80% revenue range of ±25% or wider.", "level": 1, "name": "Sound ship", "plain": "one warning sign" }, "cashFlow": { "fiscalYearEnd": "2025-10-26", "operating": 845251000, "investing": -298592000, "financing": -613996000, "capitalSpending": 310902000, "free": 534349000, "trend": [ { "fiscalYearEnd": "2021-10-31", "operating": 1001934000, "free": 769518000 }, { "fiscalYearEnd": "2022-10-30", "operating": 1134977000, "free": 856059000 }, { "fiscalYearEnd": "2023-10-29", "operating": 1047847000, "free": 777636000 }, { "fiscalYearEnd": "2024-10-27", "operating": 1266738000, "free": 1010297000 }, { "fiscalYearEnd": "2025-10-26", "operating": 845251000, "free": 534349000 } ], "note": "Annual, as filed in 10-K cash flow statements; negative investing/financing = cash going out (capital spending, buybacks, dividends, debt repaid)." }, "investments": { "fiscalYearEnd": "2025-10-26", "cash": 670679000, "shortTerm": 32909000, "longTerm": null, "equityHoldings": null, "totalAssets": 13393119000, "ladder": null, "note": "Balance-sheet cash and investment securities at fiscal year end, as filed; short-term = due or saleable within a year. Insurers and banks hold most of their book here." } }