TSNTYSON FOODS, INC.

Poultry Slaughtering And Processing

Revenue: $54.4B; 2.1% YoY
Operating margin: 2.0%; 24% YoY
EBITDA: $2.4B; 12% YoY
Market cap: $20.2B
Employees: 133,000; $409K revenue each
Net debt / EBITDA: 2.4×; $5.8B net debt
AI in 10-K: 0.4; mentions per 10K words

Takeover score 2 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
455% of net income
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
42% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
27% of assets
Over 40% of assets
Shareholder dissentNo
82% lowest support
Any vote under 80% support

Buyer economics 2 of 4

Low revenue per employeeYes
$409K · 7th pct
Bottom quartile of its SIC industry
Quiet on AIYes
0.4 per 10K words · 17th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
2.4× EBITDA net debt
More cash than debt, positive EBITDA
Buyout-sizedNo
$20.2B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
−$5M net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$47.0B	$53.3B	$52.9B	$53.3B	$54.4B	2.1%
Operating income	$4.4B	$4.4B	−$395M	$1.4B	$1.1B	22%
Net income	$3.0B	$3.2B	−$648M	$800M	$474M	41%
Operating cash flow	$3.8B	$2.7B	$1.8B	$2.6B	$2.2B	17%
Capex	$1.2B	$1.9B	$1.9B	$1.1B	$978M	14%
Stock-based comp	$91M	$93M	$61M	$101M	$100M	1.0%
Dividends	$636M	$653M	$670M	$684M	$697M	1.9%

Deal filings

None.

13D filers

Filed	Filer	Form	Stake	Intent
Feb 13, 2026	TYSON LIMITED PARTNERSHIP	SCHEDULE 13D/A	100.0%	Passive
Feb 13, 2024	TYSON LIMITED PARTNERSHIP	SC 13D/A	100.0%	Passive

Insider trading

Open-market buys, 12 mo: $1M · 1
Open-market sells, 12 mo: $6M · 2
Net: −$5M

Pay vs performance

No pay-versus-performance disclosure yet.