HRL financial statements

The full income statement, balance sheet, and cash-flow statement for Hormel Foods Corporation (HRL), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

PeriodRangeOrderChangeYoYQoQAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofOct 26 ’25	as ofOct 27 ’24	as ofOct 29 ’23	as ofOct 30 ’22	as ofOct 31 ’21
Revenue	12.1B YoY+1.6%	11.9B YoY-1.6%	12.1B YoY-2.8%	12.5B YoY+9.4%	11.4B YoY+18.5%
	1.89B YoY-6.4%	2.02B YoY+1.1%	2.00B YoY-7.6%	2.16B YoY+12.3%	1.93B YoY+5.6%
Cost of revenue	10.2B YoY+3.2%	9.90B YoY-2.1%	10.1B YoY-1.8%	10.3B YoY+8.8%	9.46B YoY+21.5%
Research & development	35.2M YoY-2.5%	36.1M YoY+7.1%	33.7M YoY-2.9%	34.7M YoY+3.3%	33.6M YoY+5.3%
Selling, general & administrative	997M YoY-0.9%	1.01B YoY+6.7%	942M YoY+7.2%	879M YoY+3.1%	853M YoY+12.1%
Restructuring	13.3M	—	—	—	—
Amortization of intangibles	14.9M YoY-9.2%	16.4M YoY-11.0%	18.4M YoY-4.6%	19.3M YoY+10.0%	17.5M YoY+22.9%
Operating income	719M YoY-32.7%	1.07B YoY-0.4%	1.07B YoY-18.3%	1.31B YoY+16.9%	1.12B YoY+2.0%
Interest expense	78.0M YoY-3.5%	80.9M YoY+10.2%	73.4M YoY+17.4%	62.5M YoY+44.4%	43.3M YoY+105.5%
Other non-operating income	236M YoY+9.4%	215M YoY+0.4%	214M YoY+316.0%	-99.3M YoY+12.0%	-113M YoY-115.7%
Equity-method income	-106M YoY-307.2%	51.1M YoY+19.5%	42.8M YoY+57.3%	27.2M YoY-43.1%	47.8M YoY+34.3%
Pre-tax income	663M YoY-35.9%	1.04B YoY+2.2%	1.01B YoY-20.7%	1.28B YoY+13.5%	1.13B YoY+1.0%
Income tax	186M YoY-19.5%	231M YoY+4.6%	221M YoY-20.6%	278M YoY+28.0%	217M YoY+5.2%
	478M YoY-40.6%	805M YoY+1.4%	794M YoY-20.6%	1000M YoY+10.0%	909M YoY+0.1%
Net income to non-controlling interest	-433K YoY-6.4%	-407K YoY+37.7%	-653K YoY-373.2%	239K YoY-20.6%	301K YoY+10.7%
	$0.87 YoY-40.8%	$1.47 YoY+1.4%	$1.45 YoY-20.3%	$1.82 YoY+9.6%	$1.66 YoY+0.0%
EPS (basic)	$0.87 YoY-40.8%	$1.47 YoY+1.4%	$1.45 YoY-21.2%	$1.84 YoY+9.5%	$1.68 YoY-0.6%
	550M YoY+0.4%	548M YoY+0.3%	546M YoY+0.3%	545M YoY+0.7%	541M YoY+0.6%
	550M YoY+0.3%	549M YoY-0.0%	549M YoY-0.1%	550M YoY+0.4%	548M YoY+0.2%
Dividends per share	$1.16 YoY+2.7%	$1.13 YoY+2.7%	$1.10 YoY+5.8%	$1.04 YoY+6.1%	$0.98 YoY+5.4%
Balance Sheet	as ofOct 26 ’25	as ofOct 27 ’24	as ofOct 29 ’23	as ofOct 30 ’22	as ofOct 31 ’21
	3.41B YoY+4.9%	3.25B YoY-1.5%	3.30B YoY-9.3%	3.64B YoY+23.4%	2.95B YoY-17.6%
Cash & equivalents	671M YoY-9.6%	742M YoY+0.7%	737M YoY-25.0%	982M YoY+60.1%	614M YoY-64.2%
Short-term investments	32.9M YoY+33.0%	24.7M YoY+48.5%	16.7M YoY+3.2%	16.1M YoY-23.7%	21.2M YoY+22.1%
Accounts receivable	785M YoY-4.0%	818M YoY+0.1%	817M YoY-5.8%	868M YoY-3.1%	896M YoY+27.5%
Inventory	1.75B YoY+10.8%	1.58B YoY-6.2%	1.68B YoY-2.1%	1.72B YoY+25.3%	1.37B YoY+27.6%
Prepaid expenses	44.0M YoY+24.8%	35.3M YoY-9.6%	39.0M YoY-18.8%	48.0M YoY+20.4%	39.9M YoY+117.5%
Other current assets	—	—	—	16.6M YoY+10.8%	14.9M YoY+20.1%
	13.4B YoY-0.3%	13.4B YoY-0.1%	13.4B YoY+1.1%	13.3B YoY+4.8%	12.7B YoY+28.1%
Operating lease right-of-use	163M YoY+10.6%	148M YoY+12.0%	132M YoY+79.2%	73.6M YoY+1.8%	72.3M YoY+36.1%
Goodwill	4.92B YoY+0.0%	4.92B YoY-0.1%	4.93B YoY+0.1%	4.93B YoY-0.1%	4.93B YoY+88.7%
Intangible assets	1.65B YoY-4.9%	1.73B YoY-1.4%	1.76B YoY-2.5%	1.80B YoY-1.1%	1.82B YoY+69.3%
Other non-current assets	432M YoY+4.8%	412M YoY+11.2%	370M YoY+30.8%	283M YoY-5.6%	300M YoY+19.8%
	1.38B YoY-1.3%	1.40B YoY-39.5%	2.31B YoY+56.9%	1.47B YoY+4.1%	1.42B YoY-5.9%
Accounts payable	732M YoY-0.5%	736M YoY-4.6%	771M YoY-5.5%	817M YoY+2.9%	793M YoY+23.1%
Accrued liabilities	55.8M YoY-16.0%	66.4M YoY+28.4%	51.7M YoY-12.1%	58.8M YoY+14.9%	51.2M YoY-13.4%
Short-term & current debt	6.65M YoY-14.9%	7.81M YoY-99.2%	951M YoY+10706.4%	8.80M YoY+0.5%	8.76M YoY-96.6%
Current lease liability	34.7M YoY+8.3%	32.1M YoY+22.2%	26.2M YoY+23.9%	21.2M YoY+15.6%	18.3M YoY+52.4%
Long-term debt	2.85B YoY-0.0%	2.85B YoY+20.9%	2.36B YoY-28.3%	3.29B YoY-0.7%	3.32B YoY+217.3%
Non-current lease liability	133M YoY+9.9%	121M YoY+11.0%	109M YoY+96.6%	55.6M YoY-2.1%	56.8M YoY+31.7%
Deferred tax liabilities	661M YoY+12.2%	589M YoY+18.3%	498M YoY+4.8%	475M YoY+70.8%	278M YoY+27.2%
Other non-current liabilities	225M YoY+6.7%	211M YoY+10.1%	192M YoY+35.3%	142M YoY-12.8%	163M YoY+3.3%
	7.90B YoY-1.2%	7.99B YoY+3.3%	7.73B YoY+2.6%	7.54B YoY+8.1%	6.97B YoY+8.5%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	—	—	—	—	7.95M YoY+0.5%
Additional paid-in capital	620M YoY+8.6%	571M YoY+12.8%	506M YoY+7.8%	469M YoY+30.3%	360M YoY+24.4%
Retained earnings	7.52B YoY-2.1%	7.68B YoY+2.5%	7.49B YoY+2.5%	7.31B YoY+6.3%	6.88B YoY+5.5%
Accumulated other comprehensive income	-244M YoY+7.5%	-263M YoY+3.3%	-272M YoY-6.5%	-256M YoY+7.8%	-277M YoY+29.8%
Non-controlling interest	14.6M YoY+38.3%	10.6M YoY+158.3%	4.10M YoY-16.9%	4.94M YoY-9.9%	5.48M YoY+14.7%
Total equity incl. non-controlling	7.92B YoY-1.1%	8.00B YoY+3.4%	7.74B YoY+2.6%	7.54B YoY+8.1%	6.98B YoY+8.5%
Total liabilities & equity	13.4B YoY-0.3%	13.4B YoY-0.1%	13.4B YoY+1.1%	13.3B YoY+4.8%	12.7B YoY+28.1%
Cash Flow	as ofOct 26 ’25	as ofOct 27 ’24	as ofOct 29 ’23	as ofOct 30 ’22	as ofOct 31 ’21
	845M YoY-33.3%	1.27B YoY+20.9%	1.05B YoY-7.7%	1.13B YoY+13.3%	1.00B YoY-11.2%
Depreciation & amortization	264M YoY+2.4%	258M YoY+1.8%	253M YoY+7.4%	236M YoY+12.7%	209M YoY+1.7%
Share-based compensation	25.6M YoY+10.2%	23.2M YoY-3.5%	24.1M YoY-3.5%	24.9M YoY+0.8%	24.7M YoY+10.2%
Deferred income taxes	52.9M YoY-39.7%	87.7M YoY+175.7%	31.8M YoY-82.0%	177M YoY+517.2%	28.7M YoY-10.5%
Change in receivables	-32.7M YoY-1623.5%	-1.90M YoY+96.1%	-49.0M YoY-72.7%	-28.4M YoY-114.8%	192M YoY+60.3%
Change in inventory	172M YoY+280.8%	-95.3M YoY-166.8%	-35.7M YoY-110.2%	352M YoY+142.2%	145M YoY+7794.3%
	-299M YoY-26.0%	-237M YoY+65.6%	-690M YoY-167.2%	-258M YoY+92.9%	-3.63B YoY-452.5%
Capital expenditure	311M YoY+21.2%	256M YoY-5.1%	270M YoY-3.1%	279M YoY+20.0%	232M YoY-36.8%
Free cash flow	534M YoY-47.1%	1.01B YoY+29.9%	778M YoY-9.2%	856M YoY+11.2%	770M YoY+1.2%
Acquisitions	0.00	0.00	0.00	0.00	0.00
	-614M YoY+40.4%	-1.03B YoY-71.7%	-600M YoY-23.3%	-487M YoY-132.0%	1.52B YoY+168.6%
Long-term debt issued	0.00 YoY-100.0%	498M YoY+25039.6%	1.98M	0.00 YoY-100.0%	2.28B YoY+129.4%
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00 YoY-100.0%	12.3M	0.00 YoY-100.0%	20.0M YoY+61.5%
Dividends paid	633M YoY+3.0%	615M YoY+3.7%	593M YoY+6.3%	558M YoY+6.6%	523M YoY+7.3%
FX effect on cash	-3.87M YoY-168.9%	5.61M YoY+247.2%	-3.81M YoY+82.4%	-21.7M YoY-931.9%	2.61M YoY-26.1%
Net change in cash	-71.2M YoY-1431.1%	5.35M YoY+102.2%	-246M YoY-166.6%	369M YoY+133.5%	-1.10B YoY-205.7%
Interest paid	74.6M YoY+6.1%	70.3M YoY+23.1%	57.1M YoY+0.2%	57.0M YoY+127.1%	25.1M YoY+73.1%
Income taxes paid	184M YoY-1.6%	186M YoY-9.1%	205M YoY+120.2%	93.1M YoY-44.3%	167M YoY-1.6%
Valuation Ratios	as ofOct 26 ’25	as ofOct 27 ’24	as ofOct 29 ’23	as ofOct 30 ’22	as ofOct 31 ’21
Market cap	13.1B YoY-23.1%	17.1B YoY-0.9%	17.2B YoY-33.3%	25.8B YoY+11.4%	23.2B YoY-14.6%
P/E	17.4× YoY-20.4%	21.9× YoY+11.3%	19.6× YoY-23.9%	25.8× YoY-4.2%	26.9× YoY-7.8%
P/S	1.1× YoY-23.6%	1.4× YoY+0.8%	1.4× YoY-31.0%	2.0× YoY-8.7%	2.2× YoY-20.0%
P/B	1.6× YoY-25.1%	2.2× YoY-2.9%	2.2× YoY-36.4%	3.5× YoY+2.7%	3.4× YoY-21.1%
P/FCF	20.9× YoY+10.6%	18.9× YoY-7.6%	20.4× YoY-17.3%	24.7× YoY-56.5%	56.9× YoY+80.6%
	5.7% YoY+25.6%	4.6% YoY-10.2%	5.1% YoY+31.4%	3.9% YoY+4.4%	3.7% YoY+8.5%
	4.8% YoY-9.6%	5.3% YoY+8.2%	4.9% YoY+20.9%	4.0% YoY+130.1%	1.8% YoY-44.6%
	4.9% YoY+33.8%	3.6% YoY+3.8%	3.5% YoY+58.2%	2.2% YoY-4.4%	2.3% YoY+23.5%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: HRL's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all HRL filings on SEC EDGAR → Not investment advice.