HORMEL FOODS CORP DE（HRL）の決算・業績分析
HORMEL FOODS CORP DEの2025年有価証券報告書をAI分析。売上高$12.1B(+1.6%)。営業利益$719M。Consumer Staples。
目次
HORMEL FOODS CORP DEの2025年度 業績サマリー
HORMEL FOODS CORP DE（証券コード: HRL）の2025年度決算・業績分析。売上高は$12.1B（前年比+1.6%）。営業利益は$719M（前年比-32.7%）。純利益は$478M（前年比-40.6%）。有価証券報告書を基に、業績変化の要因・リスク・見通し・セグメント構成を AI が分析しました。
HORMEL FOODS CORP DEの2024年度 注目ポイント
※ 直近の2025年度XBRLデータは取込済みですが、AI分析は2024年度の10-Kを対象としています。
- Revenue grew 9.4% YoY to $12.5B (XBRL), driven by Foodservice expansion and value-added Retail products.
- Operating income surged 16.9% YoY to $1.3B (XBRL), with strong International segment performance.
- Net income rose 10.0% YoY to $1,000M (XBRL), despite higher effective tax rates.
- Free cash flow reached $856M (XBRL), reflecting disciplined capital allocation and $558M in dividends paid.
- ROE of 12.9% (XBRL) highlights efficient use of equity despite a net debt-to-EBITDA ratio of 1.1x.
HORMEL FOODS CORP DEの売上高変化の要因
- •Total revenue reached $12.5B in FY2024, a 9.4% YoY increase (XBRL). Growth was driven by Foodservice segment expansion and value-added Retail products (e.g., Applegate, fresh pork), though offset by declines in Retail (due to turkey pricing drops) and International segments (lower exports and China sales) (10-K). Historical time series shows revenue growth from $9.5B in FY2020 to $12.5B in FY2024, followed by a decline to $12.1B in FY2025 (XBRL). Segment-specific revenue figures are not disclosed in the XBRL data or 10-K text (N/A).
HORMEL FOODS CORP DEの営業利益変化の要因
- •Gross profit was $2.2B with a 17.4% margin (XBRL). Operating income rose 16.9% YoY to $1.3B (XBRL), with a 10.5% operating margin. Net income increased 10.0% YoY to $1,000M (XBRL), reflecting 8.0% net margin. ROE of 12.9% (XBRL) and ROA of 7.4% (XBRL) indicate strong returns relative to equity and assets. Cost of sales changes and SG&A expense trends are not quantified in the XBRL data or 10-K text (N/A).
HORMEL FOODS CORP DEの事業リスクと対応
Deterioration of economic conditions could harm revenue, customer spending, and supply chain stability (10-K).
Volatility in financial markets may impair liquidity, increase borrowing costs, and reduce cash flow (10-K).
Military conflicts disrupt supply chains, raise fuel/commodity costs, and increase cybersecurity risks (10-K).
Acquisitions/joint ventures risk integration failures, liability assumptions, and operational misalignment (10-K).
Pandemics like COVID-19 could disrupt operations, workforce availability, and demand for products (10-K).
Geopolitical risks from military conflicts (e.g., Russia/Ukraine) impact supply chains and costs (10-K).
Foreign operations in joint ventures increase exposure to regulatory and geopolitical risks (10-K).
HORMEL FOODS CORP DEの今後の見通し・業績予想
HORMEL FOODS CORP DEの事業内容
Hormel Foods Corp is a global branded food company generating revenue through processing, marketing, and selling meat, nuts, and other food products via retail, foodservice, and international channels (10-K). It operates three segments: Retail (US retail sales and MegaMex Foods joint venture), Foodservice (US foodservice/convenience store customers), and International (global sales, joint ventures, and royalty arrangements). The company leverages iconic brands, a global distribution network, and a diversified product portfolio as key competitive advantages. With ~20,000 employees (90% in the US), it emphasizes innovation, quality, and legacy of trusted food products (10-K).
HORMEL FOODS CORP DEのAI業績分析レポート（2024年度）
Highlights
Business Overview
Hormel Foods Corp is a global branded food company generating revenue through processing, marketing, and selling meat, nuts, and other food products via retail, foodservice, and international channels (10-K). It operates three segments: Retail (US retail sales and MegaMex Foods joint venture), Foodservice (US foodservice/convenience store customers), and International (global sales, joint ventures, and royalty arrangements). The company leverages iconic brands, a global distribution network, and a diversified product portfolio as key competitive advantages. With ~20,000 employees (90% in the US), it emphasizes innovation, quality, and legacy of trusted food products (10-K).
Revenue Analysis
Total revenue reached $12.5B in FY2024, a 9.4% YoY increase (XBRL). Growth was driven by Foodservice segment expansion and value-added Retail products (e.g., Applegate, fresh pork), though offset by declines in Retail (due to turkey pricing drops) and International segments (lower exports and China sales) (10-K). Historical time series shows revenue growth from $9.5B in FY2020 to $12.5B in FY2024, followed by a decline to $12.1B in FY2025 (XBRL). Segment-specific revenue figures are not disclosed in the XBRL data or 10-K text (N/A).
Profitability Analysis
Gross profit was $2.2B with a 17.4% margin (XBRL). Operating income rose 16.9% YoY to $1.3B (XBRL), with a 10.5% operating margin. Net income increased 10.0% YoY to $1,000M (XBRL), reflecting 8.0% net margin. ROE of 12.9% (XBRL) and ROA of 7.4% (XBRL) indicate strong returns relative to equity and assets. Cost of sales changes and SG&A expense trends are not quantified in the XBRL data or 10-K text (N/A).
Balance Sheet Analysis
Total assets reached $13.4B in FY2024 (XBRL), with total equity of $7.7B (XBRL). Long-term debt was $2.4B (XBRL), resulting in net debt of $1.6B (1.1x EBITDA). Cash reserves stood at $737M (XBRL). The equity ratio was 57.5% (XBRL), and current ratio was 1.43x (XBRL). No segment-specific asset or liability breakdowns are available in the XBRL data or 10-K text (N/A).
Cash Flow Analysis
Operating cash flow was $1.1B (XBRL), slightly higher than net income of $1,000M (XBRL). Free cash flow totaled $856M (XBRL), calculated as operating cash flow ($1.1B) minus capital expenditures ($279M). Investing cash flow was -$258M (XBRL), primarily due to CapEx. Financing cash flow was -$487M (XBRL), driven by $558M in dividends paid (XBRL). No share repurchases occurred (XBRL).
Working Capital Analysis
Cash conversion cycle (CCC) was 56 days (XBRL), with receivables days at 24 days, inventory days at 60 days, and payables days at 27 days. Asset turnover was 0.93x (XBRL).
Risks
Outlook
Management provided FY2025 guidance for 1-3% organic net sales growth, diluted EPS of $1.51-$1.65, and adjusted EPS of $1.58-$1.72 (10-K). Key trends include acceleration of the T&M initiative, inflation risks, macroeconomic challenges, and production disruptions (10-K).
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