SMITHFIELD FOODS INC

Listed Company

SFDCIK 0000091388NasdaqNon-AcceleratedMeat Packing PlantsVirginiaFY ends Jan 3

Period

FY 2025

Revenue

$15.53B

Net Income

$987.00M

Total Assets

$12.18B

Equity

$6.80B

Shares Out

393.48M

Op. Cash Flow

$1.06B

Business

SMITHFIELD FOODS INC produces a wide range of packaged meats and fresh pork products and operates integrated hog production and bioscience businesses. It offers bacon, sausage, hot dogs, deli and lunch meats, dry sausages, hams, primal and sub‑primal pork cuts, prepared foods, value‑added items, private‑label products and heparin pharmaceutical intermediates. The company operates through three reportable segments—Packaged Meats, Fresh Pork and Hog Production—and reports Mexico and Bioscience as Other. It sells primarily in the U.S. to national and regional retailers, foodservice and industrial customers and exports to markets including China, Mexico, Japan, South Korea and Canada, using owned and third‑party logistics and distribution centers.

Summary from filing dated 2025-03-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2015 2015-12-31
Sales	15,531	14,142	14,640	16,199	—
Cost of sales	13,442	12,244	13,751	14,704	—
Gross profit	2,089	1,897	889	1,495	1,755
Selling, general and administrative expenses	849	840	1,050	807	—
Operating gains	−52	−60	−105	−429	—
Operating profit (loss)	1,292	1,118	−56	1,117	794
Interest expense, net	41	66	76	87	—
Non-operating gains	−18	−9	−3	−18	—
Income (loss) from continuing operations before income taxes	1,270	1,061	−129	1,047	—
Income tax expense (benefit)	283	271	−41	231	—
(Income) loss from equity method investments	−12	−8	46	6	—
Net income (loss) from continuing operations	998	798	−133	811	—
Net income from continuing operations attributable to noncontrolling interests	11	14	5	11	—
Net income (loss) from continuing operations attributable to Smithfield	987	783	−138	800	—
Income from discontinued operations before income taxes	0	184	185	97	—
Income tax expense from discontinued operations	0	13	30	27	—
Net income from discontinued operations	0	172	155	70	—
Net income from discontinued operations attributable to noncontrolling interests	0	2	0	0	—
Net income from discontinued operations attributable to Smithfield	0	170	155	70	—
Net income	998	970	23	881	—
Net income attributable to noncontrolling interests	11	17	5	11	—
Net income attributable to Smithfield	987	953	17	870	452
Continuing operations (in dollars per share)	2.52	2.06	−0.36	2.1	—
Discontinued operations (in dollars per share)	0	0.45	0.41	0.18	—
Total (in dollars per share)	2.52	2.51	0.05	2.29	—
Continuing operations (in dollars per share)	2.51	2.06	−0.36	2.1	—
Discontinued operations (in dollars per share)	0	0.45	0.41	0.18	—
Total (in dollars per share)	2.51	2.51	0.05	2.29	—
Basic (in shares)	392	380	380	380	—
Diluted (in shares)	393	380	380	380	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2015 2015-12-31
Cash and cash equivalents	1,539	943	687	547	—
Accounts receivable, net	1,023	558	577	—	—
Inventories, net	2,328	2,412	2,536	—	—
Prepaid expenses and other current assets	276	290	163	—	—
Total current assets	5,166	4,202	4,921	—	—
Property, plant and equipment, net	3,226	3,176	3,347	—	—
Goodwill	1,623	1,613	1,627	1,617	1,620
Intangible assets, net	1,260	1,266	1,274	—	—
Operating lease assets	387	335	381	—	—
Equity method investments	209	202	191	—	143
Other assets	306	260	—	—	—
Total assets	12,177	11,054	13,317	—	9,894
Accounts payable	856	777	789	—	—
Current portion of long-term debt and finance lease obligations	3	3	27	—	—
Current portion of operating lease obligations	71	56	63	—	—
Accrued expenses and other current liabilities	811	871	1,166	—	—
Total current liabilities	1,741	1,706	2,450	—	—
Long-term debt and finance lease obligations	2,000	1,999	2,006	—	—
Long-term operating lease obligations	322	286	325	—	—
Deferred income taxes, net	658	518	—	—	—
Net long-term pension obligation	207	279	255	—	—
Other liabilities	185	208	—	—	—
Redeemable noncontrolling interests	264	225	—	—	—
Commitments and contingencies (Notes 12 and 19)	—	—	—	—	—
Preferred stock, no par value; 100,000,000 shares authorized; no shares issued and outstanding	0	0	0	—	—
Common stock, no par value; 5,000,000,000 shares authorized; 393,112,711 shares issued and outstanding as of December 28, 2025 and 380,069,232 shares issued and outstanding as of December 29, 2024	0	0	0	—	—
Additional paid-in capital	3,338	3,102	4,152	—	—
Retained earnings	3,776	3,184	3,588	—	—
Accumulated other comprehensive loss	−314	−452	−500	−708	—
Total shareholders equity	6,801	5,834	7,241	—	—
Total liabilities and equity	12,177	11,054	13,317	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2013 2013-04-30
Depreciation and amortization	332	339	427	440	240
Deferred income tax expense	94	91	−130	—	−5
Stock compensation expense	9	0	0	—	—
(Gain) loss on sale of property, plant and equipment and other assets	12	−21	−73	1	—
Gain on assets held in rabbi trusts	−34	−16	−12	—	—
Change in accounts receivable	−470	−6	157	−33	−40
Change in inventories	118	138	469	−307	−274
Change in prepaid expenses and other current assets	−6	−88	57	−23	52
Change in accounts payable	65	−19	−215	121	15
Change in accrued expenses and other current liabilities	−63	−261	80	−24	—
Other	17	−32	15	−42	—
Net cash flows from operating activities of continuing operations	1,059	916	688	521	—
Capital expenditures	−341	−350	−353	−338	—
Net expenditures from breeding stock transactions	−14	−43	−48	−1	—
Investments in partnerships and other assets	−12	−13	−27	−22	—
Business dispositions	0	0	13	606	—
Proceeds from sale of property, plant and equipment and other assets	14	99	219	8	17
Cash receipts on notes receivable	25	0	0	—	—
Other	18	9	3	1	−200,000
Net cash flows used in investing activities of continuing operations	−309	−298	−194	274	−304
Payment of dividends	−396	−288	−323	−496	—
Principal payments on long-term debt and finance lease obligations	−3	−24	−4	−3	—
Payment of deferred purchase consideration for acquisition	−2	−2	−2	−55	—
Repayments to Securitization Facility	0	−14	−226	−785	—
Proceeds from Securitization Facility	0	14	226	785	—
Net repayments to revolving credit facilities	0	−8	−7	−13	—
Purchase of redeemable noncontrolling interest	0	0	−15	0	—
Net proceeds from issuance of common stock	236	0	0	—	—
Other	1	1	−2	0	−18
Net cash flows used in financing activities of continuing operations	−164	−321	−353	−567	116
Effect of foreign exchange rate changes on cash from continuing operations	11	−7	3	8	—
Net cash flows from operating activities of discontinued operations	0	221	346	−4	—
Net cash flows used in investing activities of discontinued operations	0	−171	−128	−81	—
Net cash flows used in financing activities of discontinued operations	0	−143	−180	90	—
Effect of foreign exchange rate changes on cash from discontinued operations	0	−5	0	4	—
Net change in cash and cash equivalents of discontinued operations	0	−98	38	8	—
Net change in cash, cash equivalents and restricted cash	597	192	181	245	—

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