SFDSMITHFIELD FOODS INC
Meat Packing Plants
- Revenue
- $15.5B
- 9.8% YoY
- Operating margin
- 8.3%
- 5.2% YoY
- EBITDA
- $1.6B
- 11% YoY
- Market cap
- $7.2B
- Employees
- 32,000
- $485K revenue each
- Net debt / EBITDA
- 0.7×
- $1.1B net debt
- AI in 10-K
- 1.5
- mentions per 10K words
Takeover score 1 of 13
Fixable underperformance 0 of 7
- TSR below peersNo0 of 2 years3+ of last 5 years
- High CEO pay despite TSRNo$17M medianMedian CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo107% of net incomeCash flow under 80% of net income
- Dilutive SBCNo0% of revenueOver 10% of revenue
- Payouts exceed cash flowNo74% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo13% of assetsOver 40% of assets
- Shareholder dissentNo98% lowest supportAny vote under 80% support
Buyer economics 1 of 4
- Low revenue per employeeYes$485K · 20th pctBottom quartile of its SIC industry
- Quiet on AINo1.5 per 10K words · 45th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo0.7× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$7.2B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$4M netNet sales over $10M in 12 months
Financials
| Metric | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|
| Revenue | $14.6B | $14.1B | $15.5B | 9.8% |
| Operating income | −$56M | $1.1B | $1.3B | 16% |
| Net income | $17M | $953M | $987M | 3.6% |
| Operating cash flow | $688M | $916M | $1.1B | 16% |
| Capex | $353M | $350M | $341M | 2.6% |
| Stock-based comp | $0 | $0 | $9M | |
| Dividends | $323M | $288M | $396M | 38% |
Deal filings
| Filed | Form | Acquirer | Price | Premium |
|---|---|---|---|---|
| Aug 19, 2013 | DEFM14A | Shuanghui International Holdings Limited | $34.00 | 31% |
| Jun 18, 2013 | PREM14A | Shuanghui International Holdings Limited | $34.00 | 31% |
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $4M · 3
- Net
- −$4M
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $19M | $16M | 119 | 96 |
| FY2024 | $15M | $14M | 0 | 0 |