Lamb Weston Holdings, Inc（LW）の決算・業績分析
Lamb Weston Holdings, Incの2025年有価証券報告書をAI分析。売上高$6.5B(-0.3%)。営業利益$665M。Consumer Staples。
目次
Lamb Weston Holdings, Incの2025年度 業績サマリー
Lamb Weston Holdings, Inc（証券コード: LW）の2025年度決算・業績分析。売上高は$6.5B（前年比-0.3%）。営業利益は$665M（前年比-37.6%）。純利益は$357M（前年比-50.8%）。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。
Lamb Weston Holdings, Inc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 11.7% YoY to $4.1B (XBRL), but net income fell 36.8% YoY to $201M (XBRL) due to declining operating income.
- Net debt surged to $3.5B (5.5x EBITDA) (XBRL), reflecting high leverage despite strong cash reserves of $305M (XBRL).
- ROE reached 41.8% (XBRL) but ROA remained low at 3.1% (XBRL), highlighting capital intensity and debt reliance.
Lamb Weston Holdings, Incの売上高変化の要因
- •Revenue increased 11.7% YoY to $4.1B (XBRL), driven by consistent 5-year CAGR of 9.3% (XBRL). However, operating income declined 6.4% YoY to $444M (XBRL), reflecting margin compression. No segment-specific revenue data is available in the XBRL or 10-K (N/A). The company’s growth is supported by geographic diversification and brand portfolio expansion, though reliance on a single major customer (McDonald’s) introduces concentration risk (10-K).
Lamb Weston Holdings, Incの営業利益変化の要因
- •Gross margin remained stable at 20.3% (XBRL), but operating margin fell to 10.8% (XBRL) from 12.6% in FY2023 (calculated from $475M operating income in FY2023 (XBRL)). Net margin dropped 36.8% YoY to 4.9% (XBRL), driven by declining operating income and rising costs. EBITDA of $636M (15.5% of revenue) (XBRL) highlights strong cash generation despite margin pressures.
Lamb Weston Holdings, Incの事業リスクと対応
Inflationary pressures on input costs (labor, raw materials, energy) could reduce profitability if price increases fail to offset rising expenses (10-K).
Supply chain disruptions from natural disasters, pandemics, or geopolitical conflicts may impair manufacturing and distribution (10-K).
Inability to offset cost increases through pricing or productivity initiatives may harm margins (10-K).
Limited hedging options for potatoes in the U.S. increase exposure to commodity price volatility (10-K).
Sustained commodity price increases or supply constraints could reduce sales volume and profitability (10-K).
Geopolitical risks include trade barriers, sanctions (e.g., U.S. sanctions on Ukraine), and conflicts in the Middle East (10-K).
Competitive pressures include maintaining cost efficiency in a highly competitive frozen potato market (10-K).
Lamb Weston Holdings, Incの事業内容
Lamb Weston Holdings, Inc. (LW) is a global producer and marketer of value-added frozen potato products, with French fries as its primary offering (10-K). The company operates through two reportable segments: North America (US, Canada, Mexico) and International (outside North America), selling to restaurants, foodservice distributors, retailers, and other commercial channels (10-K). Key products include frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand and licensed brands like Grown in Idaho and Alexia (10-K). McDonald’s Corporation is the largest customer, accounting for 14% of FY2024 sales (10-K). Competitive advantages include strong customer relationships, global brand recognition, and R&D investments of $16M in FY2024 (10-K).
Lamb Weston Holdings, IncのAI業績分析レポート（2024年度）
Lamb Weston Holdings, Inc. (LW) FY2024 Annual Report Analysis
Highlights
Business Overview
Lamb Weston Holdings, Inc. (LW) is a global producer and marketer of value-added frozen potato products, with French fries as its primary offering (10-K). The company operates through two reportable segments: North America (US, Canada, Mexico) and International (outside North America), selling to restaurants, foodservice distributors, retailers, and other commercial channels (10-K). Key products include frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand and licensed brands like Grown in Idaho and Alexia (10-K). McDonald’s Corporation is the largest customer, accounting for 14% of FY2024 sales (10-K). Competitive advantages include strong customer relationships, global brand recognition, and R&D investments of $16M in FY2024 (10-K).
Revenue Analysis
Revenue increased 11.7% YoY to $4.1B (XBRL), driven by consistent 5-year CAGR of 9.3% (XBRL). However, operating income declined 6.4% YoY to $444M (XBRL), reflecting margin compression. No segment-specific revenue data is available in the XBRL or 10-K (N/A). The company’s growth is supported by geographic diversification and brand portfolio expansion, though reliance on a single major customer (McDonald’s) introduces concentration risk (10-K).
Profitability Analysis
Gross margin remained stable at 20.3% (XBRL), but operating margin fell to 10.8% (XBRL) from 12.6% in FY2023 (calculated from $475M operating income in FY2023 (XBRL)). Net margin dropped 36.8% YoY to 4.9% (XBRL), driven by declining operating income and rising costs. EBITDA of $636M (15.5% of revenue) (XBRL) highlights strong cash generation despite margin pressures.
Balance Sheet Analysis
Total assets grew to $6.5B (XBRL), but total equity increased only to $481M (XBRL), reflecting high leverage. The equity ratio of 7.4% (XBRL) and net debt of $3.5B (5.5x EBITDA) (XBRL) indicate significant reliance on debt financing. Current ratio of 1.56x (XBRL) suggests adequate short-term liquidity, though cash reserves of $305M (XBRL) are offset by $3.8B in long-term debt (XBRL).
Cash Flow Analysis
Operating cash flow of $419M (XBRL) supported $128M in free cash flow (FCF) after $290M in CapEx (XBRL). Dividends paid totaled $138M (XBRL), with a payout ratio of 68.9% (XBRL). CapEx intensity of 7.1% (XBRL) and a CapEx/D&A ratio of 1.51x (XBRL) suggest ongoing investment in asset base maintenance and growth.
Working Capital Analysis
N/A
Risks
Outlook
N/A
Historical Time Series
| Metric | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | 3.4B | 3.8B | 3.8B | 3.7B | 4.1B | 5.4B |
| Operating Income | 580M | 668M | 557M | 475M | 444M | 882M |
| Net Income | 417M | 479M | 366M | 318M | 201M | 1.0B |
| Total Assets | 3.0B | 4.7B | 4.2B | 4.1B | 6.5B | 7.4B |
| Total Equity | -647M | -335M | -5M | 240M | 481M | 360M |
| Operating Cash Flow | 481M | 681M | 574M | 553M | 419M | 762M |
Consumer Staplesの企業一覧
Lamb Weston Holdings, Incと同じ「Consumer Staples」セクターの企業