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Packaged foods · Consumer Defensive · Fiscal year ends Aug 3
Campbell'S reported revenue of $9.7B in the fiscal year ended Aug 2026, down 5.0% from the year before. Operating income was $852M, an operating margin of 8.7%, and net income was $403M. Operating cash flow of $1B less capital expenditure of $361M left free cash flow of $678M. Net debt was $6.7B.
Ranks among the 21 packaged foods companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Revenue | 8,562 | 9,357 | 9,636 | 10,253 | 9,744 |
| Cost of revenue | 5,935 | 6,440 | 6,665 | 7,134 | 7,002 |
| Gross profit | 2,627 | 2,917 | 2,971 | 3,119 | 2,742 |
| Research & development | 87.0 | 92.0 | 102 | 100 | 99.0 |
| Selling, general & admin | 1,351 | 1,465 | 1,570 | 1,598 | 1,553 |
| Operating income | 1,163 | 1,312 | 1,000 | 1,124 | 852 |
| Interest expense | 189 | 188 | 249 | 345 | 331 |
| Pre-tax income | 975 | 1,128 | 757 | 796 | 529 |
| Income tax | 218 | 270 | 190 | 194 | 124 |
| Net income | 757 | 858 | 567 | 602 | 403 |
| Diluted EPS | 2.51 | 2.85 | 1.89 | 2.01 | 1.31 |
| Diluted shares | 302 | 301 | 300 | 300 | 300 |
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | 109 | 189 | 108 | 132 | 394 |
| Receivables | 490 | 494 | 587 | 541 | 517 |
| Inventory | 1,246 | 1,291 | 1,386 | 1,424 | 1,612 |
| Current assets | 1,963 | 2,061 | 2,190 | 2,232 | 2,720 |
| Net PP&E | 2,343 | 2,398 | 2,698 | 2,767 | 2,868 |
| Goodwill | 3,979 | 3,965 | 5,077 | 4,991 | 5,321 |
| Total assets | 11,892 | 12,058 | 15,235 | 14,896 | 15,648 |
| Payables | 1,334 | 1,306 | 1,311 | 1,332 | 1,377 |
| Current liabilities | 2,886 | 2,222 | 3,576 | 2,906 | 3,336 |
| Short-term debt | 565 | 0.0 | 1,150 | 400 | 977 |
| Long-term debt | 3,996 | 4,498 | 5,761 | 6,095 | 6,160 |
| Total liabilities | 8,559 | 8,395 | 11,439 | 10,992 | 11,492 |
| Shareholders' equity | 3,331 | 3,661 | 3,794 | 3,902 | 3,850 |
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Operating cash flow | 1,181 | 1,143 | 1,185 | 1,131 | 1,039 |
| Capital expenditure | 242 | 370 | 517 | 426 | 361 |
| Free cash flow | 939 | 773 | 668 | 705 | 678 |
| Depreciation & amortisation | 337 | 387 | 411 | 434 | 413 |
| Stock-based compensation | 59.0 | 63.0 | 99.0 | 57.0 | 56.0 |
| Acquisitions | 0.0 | 0.0 | 2,617 | 0.0 | −1.0 |
| Share buybacks | 167 | 142 | 67.0 | 62.0 | 26.0 |
| Dividends paid | 451 | 447 | 445 | 459 | 470 |
| Dividend per share | 1.48 | 1.48 | 1.48 | 1.54 | 1.56 |
| Fiscal year | Jul 2022 | Jul 2023 | Jul 2024 | Aug 2025 | Aug 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 9.3% | 3.0% | 6.4% | −5.0% |
| Operating income growth (YoY) | – | 12.8% | −23.8% | 12.4% | −24.2% |
| EPS growth (YoY) | – | 13.5% | −33.7% | 6.3% | −34.8% |
| Gross margin | 30.7% | 31.2% | 30.8% | 30.4% | 28.1% |
| Operating margin | 13.6% | 14.0% | 10.4% | 11.0% | 8.7% |
| Net margin | 8.8% | 9.2% | 5.9% | 5.9% | 4.1% |
| Return on equityBlank when equity is negative | 22.7% | 23.4% | 14.9% | 15.4% | 10.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 12.9% | 13.3% | 8.6% | 9.4% | 6.9% |
| Free cash flow margin | 11.0% | 8.3% | 6.9% | 6.9% | 7.0% |
| Cash conversion (CFO ÷ net income) | 1.56x | 1.33x | 2.09x | 1.88x | 2.58x |
| Receivable days | 21 | 19 | 22 | 19 | 19 |
| Inventory days | 77 | 73 | 76 | 73 | 84 |
| Payable days | 82 | 74 | 72 | 68 | 72 |
| Interest cover | 6.15x | 6.98x | 4.02x | 3.26x | 2.57x |
| Debt ÷ equity | 1.37x | 1.23x | 1.82x | 1.66x | 1.85x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 4,452 | 4,309 | 6,803 | 6,363 | 6,743 |
| Current ratio | 0.68x | 0.93x | 0.61x | 0.77x | 0.82x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.