LW financial statements

The full income statement, balance sheet, and cash-flow statement for Lamb Weston (LW), 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	FY2026	FY2025	FY2024	FY2023	FY2022
Income Statement	as ofMay 31 ’26	as ofMay 25 ’25	as ofMay 26 ’24	as ofJun 2 ’23	as ofMay 29 ’22
Revenue	6.61B YoY+2.5%	6.45B YoY-0.3%	6.47B YoY+20.9%	5.35B YoY+30.5%	4.10B YoY+11.7%
	1.36B YoY-2.8%	1.40B YoY-20.8%	1.77B YoY+23.4%	1.43B YoY+72.1%	832M YoY+0.0%
Cost of revenue	5.25B YoY+4.0%	5.05B YoY+7.5%	4.70B YoY+20.0%	3.92B YoY+19.9%	3.27B YoY+15.1%
Research & development	18.9M YoY-14.1%	22.0M YoY-16.7%	26.4M	—	16.2M YoY+25.6%
Selling, general & administrative	665M YoY+4.9%	634M YoY-9.7%	701M YoY+27.5%	550M YoY+41.9%	388M YoY+8.5%
Restructuring	104M YoY+4.0%	100M	0.00	0.00	—
Amortization of intangibles	—	—	—	—	5.80M YoY+16.0%
Operating income	591M YoY-11.1%	665M YoY-37.6%	1.07B YoY+20.8%	882M YoY+98.5%	444M YoY-6.4%
Equity-method income	7.50M YoY-50.7%	15.2M YoY-41.5%	26.0M YoY-94.4%	461M YoY+4404.7%	-10.7M YoY-120.7%
Pre-tax income	418M YoY-16.4%	500M YoY-47.6%	956M YoY-22.5%	1.23B YoY+352.3%	273M YoY-33.2%
Income tax	128M YoY-10.5%	143M YoY-37.8%	230M YoY+2.4%	225M YoY+212.8%	71.8M YoY-20.7%
	290M YoY-18.8%	357M YoY-50.8%	726M YoY-28.1%	1.01B YoY+402.2%	201M YoY-36.8%
Net income to common	—	—	—	—	201M YoY-36.8%
	$2.08 YoY-16.8%	$2.50 YoY-49.8%	$4.98	—	$1.38 YoY-36.1%
EPS (basic)	$2.09 YoY-16.7%	$2.51 YoY-49.9%	$5.01	—	$1.38 YoY-36.4%
	139M YoY-2.3%	142M YoY-1.9%	145M YoY+0.3%	145M YoY-0.7%	146M YoY-0.6%
	139M YoY-2.5%	143M YoY-2.0%	146M YoY+0.3%	145M YoY-0.5%	146M YoY-0.8%
Dividends per share	$1.50 YoY+2.7%	$1.46 YoY+14.1%	$1.28	—	$0.96 YoY+3.2%
Balance Sheet	as ofMay 31 ’26	as ofMay 25 ’25	as ofMay 26 ’24	as ofJun 2 ’23	as ofMay 29 ’22
	2.01B YoY-0.9%	2.03B YoY-2.7%	2.09B YoY-1.7%	2.13B YoY+28.2%	1.66B YoY-6.9%
Cash & equivalents	68.2M YoY-3.5%	70.7M YoY-1.0%	71.4M YoY-76.6%	305M YoY-41.9%	525M YoY-33.0%
Accounts receivable	779M YoY-0.3%	782M YoY+5.1%	744M YoY+2.7%	724M YoY+61.9%	447M YoY+21.9%
Inventory	969M YoY-6.5%	1.04B YoY-9.1%	1.14B YoY+22.2%	932M YoY+62.3%	574M YoY+11.9%
Prepaid expenses	199M YoY+37.0%	145M YoY+6.3%	136M YoY-17.9%	166M YoY+47.2%	113M YoY-4.2%
	7.38B YoY-0.2%	7.39B YoY+0.3%	7.37B YoY+13.0%	6.52B YoY+57.5%	4.14B YoY-1.7%
Operating lease right-of-use	112M YoY-1.4%	113M YoY-14.9%	133M YoY-9.0%	146M YoY+22.8%	119M YoY-16.0%
Goodwill	1.13B YoY+3.7%	1.09B YoY+2.9%	1.06B YoY+1.8%	1.04B YoY+227.3%	318M YoY-4.9%
Intangible assets	108M YoY-5.0%	114M YoY+8.7%	105M YoY-4.8%	110M YoY+227.0%	33.7M YoY-8.7%
Other non-current assets	326M YoY-8.2%	355M YoY-10.5%	396M YoY+37.8%	288M YoY+66.3%	173M YoY+115.0%
	1.42B YoY-4.1%	1.48B YoY-9.1%	1.62B YoY+19.4%	1.36B YoY+94.6%	699M YoY+13.1%
Accounts payable	613M YoY-0.5%	616M YoY-26.1%	834M YoY+31.0%	637M YoY+58.1%	403M YoY+12.1%
Accrued liabilities	482M YoY+17.4%	411M YoY+0.8%	408M YoY-20.0%	510M YoY+92.9%	264M YoY+16.5%
Short-term & current debt	249M YoY-32.7%	371M YoY+13.6%	326M	—	—
Current lease liability	27.7M YoY+15.9%	23.9M YoY-18.4%	29.3M	—	22.4M YoY-23.0%
Long-term debt	3.68B YoY-2.6%	3.77B YoY-1.7%	3.84B	—	—
Non-current lease liability	94.2M YoY-4.8%	98.9M YoY-14.3%	115M	—	105M YoY-13.0%
Deferred tax liabilities	298M YoY+17.4%	254M YoY-1.1%	256M YoY+1.6%	252M YoY+46.1%	173M YoY+8.0%
Other non-current liabilities	247M YoY+1.8%	243M YoY-6.0%	258M YoY+4.2%	248M YoY+16.9%	212M YoY-13.7%
Total non-current liabilities	4.14B YoY-0.9%	4.18B YoY+5.7%	3.96B YoY+5.5%	3.75B YoY+21.7%	3.08B YoY-1.0%
	1.82B YoY+5.0%	1.74B YoY-2.8%	1.79B YoY+26.7%	1.41B YoY+291.5%	361M YoY-25.0%
Common stock	152M YoY+0.5%	151M YoY+0.5%	151M YoY+0.3%	150M YoY+1.6%	148M YoY+0.3%
Additional paid-in capital	-427M YoY+10.9%	-479M YoY+5.9%	-509M YoY+8.9%	-559M YoY+31.3%	-813M YoY+2.8%
Retained earnings	2.93B YoY+2.8%	2.85B YoY+5.5%	2.70B YoY+25.0%	2.16B YoY+65.5%	1.31B YoY+4.9%
Treasury stock	962M YoY+14.8%	838M YoY+54.9%	541M YoY+72.1%	314M YoY+19.0%	264M YoY+153.2%
Accumulated other comprehensive income	132M YoY+141.8%	54.5M YoY+522.5%	-12.9M YoY+51.9%	-26.8M YoY-71.8%	-15.6M YoY-152.9%
Total equity incl. non-controlling	—	—	—	1.41B YoY+291.5%	361M YoY-25.0%
Total liabilities & equity	7.38B YoY-0.2%	7.39B YoY+0.3%	7.37B YoY+13.0%	6.52B YoY+57.5%	4.14B YoY-1.7%
	152M YoY+0.5%	151M YoY+0.4%	151M YoY+0.3%	150M YoY+1.5%	148M YoY+0.3%
	—	—	—	146M YoY+1.1%	144M YoY-1.5%
	137M YoY-1.3%	139M YoY-3.0%	144M YoY-1.4%	146M YoY+1.3%	144M YoY-1.7%
Cash Flow	as ofMay 31 ’26	as ofMay 25 ’25	as ofMay 26 ’24	as ofJun 2 ’23	as ofMay 29 ’22
	943M YoY+8.6%	868M YoY+8.8%	798M YoY+4.8%	762M YoY+82.0%	419M YoY-24.3%
Depreciation & amortization	397M YoY+5.8%	375M YoY+22.2%	307M YoY+37.7%	223M YoY+16.0%	192M YoY+2.3%
Share-based compensation	46.2M YoY+17.0%	39.5M YoY-15.6%	46.8M YoY+21.6%	38.5M YoY+80.8%	21.3M YoY+3.4%
Deferred income taxes	40.7M YoY+10075.0%	400K YoY+128.6%	-1.40M	—	13.5M YoY+255.3%
Change in inventory	-77.8M YoY+30.9%	-113M YoY-155.4%	203M YoY+62.5%	125M YoY+98.6%	63.0M YoY+186.4%
Change in payables	-1.50M YoY-175.0%	2.00M YoY-94.5%	36.5M YoY-56.1%	83.1M YoY+403.6%	16.5M YoY-84.2%
Other operating activities	1.00M YoY+104.7%	-21.4M YoY-185.9%	24.9M YoY+1031.8%	2.20M YoY+131.4%	-7.00M YoY-165.4%
	-380M YoY+41.3%	-648M YoY+34.2%	-984M YoY+26.6%	-1.34B YoY-331.9%	-311M YoY-91.1%
Capital expenditure	403M YoY-36.9%	638M YoY-31.3%	930M YoY+42.1%	654M YoY+125.4%	290M YoY+97.1%
Free cash flow	540M YoY+134.8%	230M YoY+275.2%	-131M YoY-221.9%	108M YoY-16.2%	129M YoY-68.3%
Acquisitions	0.00	0.00 YoY-100.0%	10.5M	0.00	0.00
Proceeds from sale of PP&E	26.0M YoY+1200.0%	2.00M	0.00	—	—
Other investing activities	-3.90M YoY-457.1%	-700K YoY-250.0%	-200K YoY+96.4%	-5.50M YoY-234.1%	4.10M YoY+612.5%
	-569M YoY-152.9%	-225M YoY-368.8%	-48.0M YoY-114.1%	341M YoY+193.8%	-363M YoY+62.7%
Long-term debt issued	104M YoY-80.3%	525M YoY-11.3%	592M	0.00 YoY-100.0%	1.68B
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Net short-term debt	—	—	—	41.4M	—
Common stock issued	0.00	0.00	0.00	0.00	0.00
Common stock repurchased	0.00	0.00	0.00	0.00	0.00
Dividends paid	208M YoY+0.3%	207M YoY+18.9%	174M YoY+19.1%	146M YoY+5.6%	138M YoY+2.3%
Other financing activities	1.90M YoY+112.5%	-15.2M YoY-237.8%	-4.50M YoY-2350.0%	200K YoY+104.0%	-5.00M YoY-394.1%
Net change in cash	-2.50M YoY-257.1%	-700K YoY+99.7%	-233M YoY-6.0%	-220M YoY+14.8%	-259M YoY+55.5%
Interest paid	203M YoY-3.7%	211M YoY+10.1%	191M	—	80.6M YoY-33.2%
Income taxes paid	119M YoY-20.6%	150M YoY-20.7%	189M	—	44.3M YoY-47.3%
Valuation Ratios	as ofMay 31 ’26	as ofMay 25 ’25	as ofMay 26 ’24	as ofJun 2 ’23	as ofMay 29 ’22
Market cap	5.96B YoY-16.4%	7.13B YoY-44.6%	12.9B YoY-21.9%	16.5B YoY+68.0%	9.82B YoY-18.6%
P/E	19.9× YoY+2.1%	19.4× YoY+65.2%	11.8× YoY-28.0%	16.4× YoY-61.0%	41.9× YoY-13.0%
P/S	0.9× YoY-18.1%	1.1× YoY-43.2%	2.0× YoY-36.2%	3.1× YoY+24.1%	2.5× YoY-27.7%
P/B	3.3× YoY-25.3%	4.4× YoY-40.4%	7.3× YoY-37.3%	11.7× YoY-53.3%	25.0× YoY-6.3%
P/FCF	9.4× YoY-88.7%	83.4×	—	153.2× YoY+23.2%	124.3× YoY+292.6%
	5.0% YoY-2.1%	5.1% YoY-39.5%	8.5% YoY+39.0%	6.1% YoY+156.2%	2.4% YoY+14.9%
	10.6% YoY+787.8%	1.2%	—	0.65% YoY-18.9%	0.80% YoY-74.5%
	3.5% YoY+20.3%	2.9% YoY+101.3%	1.4%	—	1.4% YoY+25.2%
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: LW'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 LW filings on SEC EDGAR → Not investment advice.