Hormel Foods Corporation (HRL) · 38 Years of Financial statements

Income Statement

Revenue

1,502

1,960

2,314

2,293

2,341

2,681

2,836

2,814

2,854

3,065

3,046

3,099

3,257

3,261

3,358

3,675

4,124

3,910

4,200

4,780

5,414

5,745

6,193

6,755

6,534

7,221

7,895

8,231

8,752

9,316

9,264

9,523

9,168

9,546

9,497

9,608

11,386

12,459

COGS

1,157

1,584

1,902

1,815

1,818

2,120

2,238

2,158

2,175

2,309

2,257

2,356

2,445

2,340

2,315

2,609

2,989

2,947

3,187

3,659

4,131

4,362

4,779

5,233

5,435

5,982

6,561

6,899

7,339

7,751

7,455

7,365

7,164

7,550

7,613

7,782

9,458

10,294

Gross Profit

345

376

412

478

523

562

598

656

679

756

789

743

812

921

1,043

1,066

1,135

963

1,013

1,121

1,283

1,383

1,415

1,522

1,099

1,239

1,334

1,332

1,413

1,565

1,809

2,158

2,003

1,995

1,885

1,826

1,928

2,165

Gross Profit Ratio

22.98%

19.19%

17.80%

20.83%

22.32%

20.95%

21.08%

23.31%

23.80%

24.66%

25.90%

23.98%

24.93%

28.24%

31.06%

29.01%

27.52%

24.62%

24.12%

23.45%

23.69%

24.07%

22.84%

22.53%

16.82%

17.16%

16.90%

16.18%

16.14%

16.80%

19.52%

22.66%

21.85%

20.90%

19.84%

19.00%

16.93%

17.37%

Operating Expenses

265

302

324

379

413

442

464

509

524

569

606

622

644

738

802

804

834

645

703

744

10,859

932

934

1,012

567

605

592

606

627

651

744

872

762

838

728

761

853

879

R&D Expenses

- -

Selling, G&A Exp.

237

271

292

345

377

407

430

475

492

532

569

579

591

677

737

738

834

652

709

768

864

937

934

1,012

567

605

619

606

627

651

744

872

762

838

728

761

853

879

General and Admin. Exp.

- -

162

178

- -

Selling and Marketing Exp.

- -

772

834

- -

Other Expenses

28

31

33

34

36

34

35

34

32

37

43

53

60

65

66

- -

(8)

(6)

(25)

9,994

(5)

- -

(27)

- -

COGS and Expenses

1,422

1,886

2,226

2,194

2,231

2,561

2,703

2,667

2,699

2,878

2,863

2,977

3,088

3,078

3,117

3,413

3,824

3,592

3,890

4,403

14,990

5,295

5,713

6,245

6,002

6,587

7,153

7,505

7,966

8,402

8,199

8,237

7,926

8,388

8,340

8,544

10,311

11,173

Interest Income

- -

14

- -

20

5

- -

7

5

3

6

11

9

32

36

47

28

Interest Expense

- -

28

56

28

27

23

13

12

13

26

18

21

43

63

Depreciation and Amortization

28

31

33

34

36

34

35

34

32

37

43

53

60

65

66

90

83

88

95

115

121

127

126

127

126

124

119

125

130

133

132

131

162

165

206

228

263

EBITDA

100

102

112

130

147

156

173

185

66

228

232

168

224

278

316

330

375

377

459

520

552

624

640

680

773

861

886

932

1,062

1,203

1,462

1,422

1,369

1,393

1,341

1,398

1,603

EBITDA ratio

6.64%

5.18%

4.85%

5.66%

6.26%

5.80%

6.09%

6.59%

2.31%

7.43%

7.61%

5.43%

6.87%

8.51%

9.41%

8.99%

9.10%

9.65%

8.98%

9.61%

9.60%

10.08%

9.47%

10.41%

10.70%

10.90%

10.76%

10.65%

11.39%

12.98%

15.35%

15.51%

14.34%

14.66%

13.96%

12.27%

12.87%

Operating Income

80

74

88

99

110

120

134

147

155

187

183

122

168

183

241

263

300

318

310

377

424

451

484

514

533

647

742

765

806

932

1,067

1,324

1,280

1,199

1,196

1,100

1,123

1,313

Operating Income ratio

5.33%

3.79%

3.80%

4.30%

4.69%

4.48%

4.71%

5.21%

5.44%

6.10%

6.02%

3.92%

5.16%

5.62%

7.17%

7.15%

7.28%

8.14%

7.39%

7.89%

7.83%

7.84%

7.81%

7.60%

8.16%

8.95%

9.40%

9.29%

9.21%

10.00%

11.52%

13.90%

13.97%

12.56%

12.60%

11.45%

9.86%

10.54%

Total Other Income Exp.(Gains)

(8)

(3)

(8)

(3)

1

4

5

6

4

11

4

3

34

11

2

(15)

(24)

(21)

(13)

(19)

(20)

(14)

(56)

(8)

(22)

(23)

(6)

(7)

(9)

(10)

(7)

(2)

(18)

13

15

4

(35)

Income Before Tax

72

71

80

95

111

121

138

151

161

191

195

126

171

217

251

264

285

294

289

365

405

431

470

458

525

625

719

758

799

922

1,057

1,317

1,279

1,181

1,210

1,115

1,126

1,278

Income Before Tax ratio

4.77%

3.62%

3.45%

4.16%

4.73%

4.52%

4.86%

5.37%

5.65%

6.24%

6.39%

4.05%

5.25%

6.66%

7.49%

7.19%

6.91%

7.52%

6.89%

7.63%

7.48%

7.49%

7.59%

6.77%

8.04%

8.65%

9.10%

9.21%

9.12%

9.90%

11.41%

13.83%

13.95%

12.38%

12.74%

11.60%

9.89%

10.26%

Income Tax Expense (Gain)

33

32

34

35

41

44

52

56

60

73

74

46

61

78

88

94

103

105

104

133

151

144

168

172

182

225

240

253

268

316

370

427

432

169

231

206

217

278

Net Income

39

46

60

70

77

86

95

(27)

118

120

79

110

139

163

170

182

189

186

232

253

286

302

286

343

396

474

500

526

603

686

890

847

1,012

979

908

909

1,000

Net Income Ratio

2.57%

1.99%

1.98%

2.63%

3.00%

2.88%

3.05%

3.38%

(0.94)%

3.85%

3.95%

2.56%

3.36%

4.27%

4.87%

4.63%

4.42%

4.84%

4.42%

4.85%

4.68%

4.98%

4.87%

4.23%

5.25%

5.48%

6.01%

6.08%

6.01%

6.47%

7.41%

9.35%

9.24%

10.60%

10.31%

9.45%

7.98%

8.03%

EPS

0.07

0.10

0.12

0.13

0.14

0.15

(0.04)

0.19

0.20

0.13

0.18

0.23

0.28

0.30

0.33

0.34

0.42

0.46

0.52

0.55

0.53

0.64

0.74

0.89

0.95

0.99

1.14

1.30

1.68

1.60

1.91

1.83

1.69

1.68

1.84

EPS Diluted

0.07

0.10

0.12

0.13

0.14

0.15

(0.04)

0.19

0.20

0.13

0.18

0.23

0.28

0.30

0.33

0.34

0.33

0.41

0.46

0.51

0.54

0.52

0.63

0.73

0.87

0.93

0.97

1.11

1.27

1.64

1.57

1.86

1.80

1.66

1.82

Weighted Avg. Shares Outs.

594

602

612

602

610

605

606

614

628

613

610

611

608

599

584

562

555

554

552

551

549

541

537

533

527

529

528

529

528

531

535

538

541

545

Weighted Avg. Shares Outs. Dil.

594

602

612

602

610

617

614

628

613

610

611

608

602

589

566

561

559

561

558

551

557

549

542

541

544

538

540

541

542

539

544

545

547

548

550

SEC Link

Link

Balance Sheet

Cash and Cash Equivalents

- -

249

190

189

147

204

188

101

186

310

98

289

131

172

150

155

385

468

463

682

434

334

347

415

444

459

673

1,714

614

982

Short-Term Investments

- -

11

9

15

6

- -

60

6

- -

39

- -

51

76

77

- -

15

17

21

16

Cash & Short-Term Investments

- -

260

198

203

152

204

249

107

186

310

98

289

170

172

150

155

385

518

539

760

434

334

347

415

444

459

688

1,732

635

998

Net Receivables

- -

228

231

234

223

266

308

275

291

273

301

342

367

411

372

439

486

524

552

635

612

610

641

604

594

744

904

875

Inventory

- -

199

211

271

265

240

270

281

355

356

403

426

496

571

647

785

722

794

886

951

968

1,055

993

986

921

964

1,042

1,073

1,369

1,716

Other Current Assets

- -

21

19

18

20

51

15

34

22

31

42

75

56

68

88

95

106

88

87

94

109

111

19

21

23

37

31

40

48

Total Current Assets

- -

708

659

723

671

717

800

711

883

962

824

1,029

1,041

1,142

1,232

1,438

1,575

1,858

1,998

2,321

2,047

2,133

2,063

2,030

2,027

2,050

2,361

3,579

2,948

3,637

PP&E

- -

271

333

422

489

487

506

542

680

653

701

704

878

911

967

978

953

922

907

924

955

1,002

1,012

1,105

1,203

1,513

1,629

1,898

2,109

2,141

Goodwill

- -

79

82

124

132

- -

99

93

279

- -

551

596

619

620

629

631

934

1,226

1,699

1,834

2,120

2,714

2,482

2,613

4,929

4,926

Intangible Assets

- -

105

- -

100

366

510

513

642

148

162

151

141

142

132

123

378

555

827

903

1,027

1,207

1,034

1,076

1,822

1,803

Goodwill and Intangible Assets

- -

79

82

124

132

105

99

93

379

366

510

513

642

699

758

771

761

771

763

754

1,313

1,781

2,527

2,738

3,147

3,921

3,516

3,689

6,751

6,729

Investments

- -

68

84

44

113

- -

143

151

130

- -

102

94

87

214

296

287

271

264

259

240

242

273

289

308

299

271

Tax Assets

- -

1

7

- -

1

7

66

89

122

72

60

144

25

- -

6

- -

Other Non-Current Assets

- -

71

66

123

246

139

145

91

232

358

287

261

302

269

247

195

216

221

134

305

275

279

251

357

385

314

434

589

529

Total Non-Current Assets

- -

489

565

713

857

839

886

931

1,279

1,258

1,569

1,505

1,781

1,919

2,162

2,178

2,117

2,196

2,246

2,243

2,868

3,323

4,077

4,340

4,949

6,092

5,748

6,329

9,749

9,670

Other Assets

- -

Total Assets

- -

1,197

1,224

1,436

1,529

1,556

1,686

1,642

2,163

2,220

2,393

2,534

2,822

3,060

3,394

3,616

3,692

4,054

4,244

4,564

4,916

5,456

6,140

6,370

6,976

8,142

8,109

9,908

12,696

13,307

Accounts Payable

- -

113

98

121

120

163

155

171

174

196

204

255

271

291

379

313

361

390

386

387

484

495

482

553

619

590

645

793

817

Short-Term Debt

- -

6

- -

14

16

11

0

70

100

- -

350

- -

185

1,053

- -

259

9

Tax Payable

- -

11

12

15

9

8

5

9

6

7

4

1

2

6

22

24

33

Deferred Revenue

- -

9

7

- -

Other Current Liabilities

- -

152

120

145

140

142

223

179

242

222

232

245

317

313

292

290

357

381

380

396

388

465

527

(486)

505

518

509

578

590

615

Total Current Liabilities

- -

265

218

266

261

268

385

343

420

410

442

464

583

585

665

781

685

1,101

778

786

784

955

1,214

1,053

1,058

1,139

1,105

1,504

1,416

1,473

Long-Term Debt

- -

10

17

127

198

205

185

146

462

410

395

362

350

- -

250

625

250

1,045

3,315

3,291

Deferred Revenue

- -

Deferred Tax Liabilities

- -

11

4

- -

24

64

- -

98

197

177

219

278

475

Other Non-Current Liabilities

- -

260

257

268

270

274

280

284

285

292

305

314

322

494

478

534

546

556

703

565

615

610

615

630

577

652

710

709

528

Total Non-Current Liabilities

- -

271

274

384

466

475

459

426

747

695

698

670

665

672

844

828

884

546

806

953

815

889

924

865

978

1,399

1,078

1,974

4,302

4,293

Other Liabilities

- -

Capital Lease Obligations

- -

Total Liabilities

- -

536

492

651

726

743

844

768

1,167

1,105

1,140

1,135

1,248

1,257

1,509

1,609

1,569

1,647

1,585

1,739

1,599

1,844

2,138

1,919

2,036

2,537

2,183

3,478

5,718

5,767

Preferred Stock

- -

Common Stock

- -

9

- -

8

Retained Earnings

- -

640

710

745

793

810

839

887

1,011

1,140

1,266

1,415

1,588

1,821

1,979

2,113

2,318

2,569

2,824

3,135

3,453

3,806

4,216

4,737

5,163

5,730

6,128

6,523

6,882

7,313

Other Compreh. Income(Loss)

- -

(366)

(389)

(407)

(431)

(452)

(13)

(42)

(52)

(33)

(25)

(24)

(25)

(18)

(102)

(113)

(203)

(176)

(175)

(324)

(149)

(208)

(226)

(296)

(248)

(243)

(400)

(395)

(277)

(256)

Other Total Stockhold. Equity

- -

378

402

439

431

455

6

21

29

- -

4

- -

3

(8)

- -

14

107

185

290

360

469

Total Stockholders Equity

- -

661

732

786

802

813

841

874

996

1,115

1,253

1,399

1,575

1,803

1,885

2,008

2,123

2,401

2,657

2,819

3,311

3,606

3,998

4,448

4,936

5,601

5,921

6,426

6,973

7,535

Total Liab.&Stockhold. Equity

- -

1,197

1,224

1,436

1,529

1,556

1,686

1,642

2,163

2,220

2,393

2,534

2,822

3,060

3,394

3,616

3,692

4,048

4,241

4,558

4,910

5,449

6,137

6,367

6,972

8,138

8,105

9,904

12,691

13,302

Minority Interest

- -

Total Liabilities & Equity

- -

1,197

1,224

1,436

1,529

1,556

1,686

1,642

2,163

2,220

2,393

2,534

2,822

3,060

3,394

3,616

3,692

4,048

4,241

4,558

4,910

5,449

6,137

6,367

6,972

8,138

8,105

9,904

12,691

13,302

SEC Link

Link

Cash Flow Statement

Net Income

- -

95

101

118

120

79

110

139

163

170

182

189

186

232

253

286

302

286

343

400

479

505

530

606

687

891

847

1,013

979

908

909

1,000

Depreciation and Amortization

- -

34

32

37

43

53

60

65

66

90

83

88

95

115

121

127

126

127

126

124

119

125

130

133

132

131

162

165

206

228

263

Deferred Income Tax

- -

(10)

(4)

(6)

5

(2)

(0)

5

2

7

(2)

- -

(16)

(31)

(27)

(7)

(10)

(0)

29

7

5

1

10

20

44

62

(7)

29

32

29

177

Stock Based Compensation

- -

12

14

17

18

14

16

18

16

21

20

22

25

Change in Working Capital

- -

7

(29)

42

(71)

(2)

4

45

15

(92)

53

57

(13)

15

97

(67)

(85)

(162)

82

(66)

(103)

(114)

(21)

9

130

(51)

0

77

(216)

(29)

(166)

(372)

Accounts Receivable

- -

(10)

(43)

39

(59)

(30)

(46)

(44)

(20)

22

21

(28)

36

(11)

(120)

(192)

28

Inventory

- -

(12)

(23)

11

(11)

(57)

5

25

(29)

(12)

(22)

9

(24)

(29)

(13)

(22)

- -

62

(74)

(92)

(65)

32

(22)

82

(12)

41

(8)

(124)

(2)

(145)

(352)

Accounts Payable

- -

(0)

(11)

72

(7)

(75)

(3)

48

(44)

111

115

(15)

Other Working Capital

- -

4

5

7

(22)

(51)

(243)

(86)

(35)

5

(10)

12

(33)

(30)

(35)

(13)

(10)

(11)

(15)

(29)

Other Non-Cash Items

- -

6

(0)

9

(0)

(8)

(3)

(20)

(6)

(0)

(4)

(3)

(7)

(31)

(6)

13

(0)

32

(13)

(18)

(34)

(14)

(15)

(23)

6

(40)

(46)

(22)

(54)

(12)

(23)

42

Cash Provided by Operating Activities

- -

132

100

199

91

109

163

229

240

151

320

327

253

295

429

327

337

272

551

486

490

518

638

747

992

993

1,010

1,242

923

1,128

1,002

1,135

CAPEX

- -

(23)

(94)

(65)

(103)

(123)

(116)

(76)

(79)

(100)

(77)

(64)

(241)

(80)

(107)

(142)

(126)

(97)

(90)

(97)

(132)

(107)

(159)

(144)

(256)

(221)

(390)

(294)

(368)

(232)

(279)

Acquisitions Net

- -

(440)

(0)

(67)

(21)

(366)

(79)

(125)

(27)

(1)

(28)

(7)

(0)

(665)

(466)

(771)

(171)

(385)

(858)

480

(271)

(3,396)

- -

Purchases of Investments

- -

(15)

(0)

- -

(15)

(53)

(115)

(109)

(30)

(0)

(28)

(91)

(13)

(118)

(136)

(604)

(157)

(2)

(145)

(71)

- -

(7)

(2)

(5)

- -

(8)

(21)

(24)

- -

Sales/Maturities of Investments

- -

3

13

62

86

83

85

6

20

- -

3

207

177

576

151

10

- -

21

78

- -

11

9

10

18

4

- -

Other Investing Activities

- -

(7)

(20)

(12)

(14)

(26)

(78)

46

(39)

(29)

4

12

5

130

4

10

12

4

5

4

5

10

19

6

4

10

37

2

3

21

Cash Used for Investing Activities

- -

(29)

(128)

(75)

(115)

(150)

(185)

(59)

(144)

(74)

(507)

(61)

(394)

18

(381)

(171)

(266)

(154)

(85)

(258)

(171)

(107)

(691)

(617)

(901)

(409)

(593)

(1,235)

220

(656)

(3,626)

(258)

Debt Repayment

- -

(94)

(130)

(100)

- -

(350)

- -

(115)

(165)

(430)

(280)

(0)

(375)

(8)

(259)

(9)

Common Stock Issued

- -

Common Stock Repurchased

- -

(24)

(46)

(80)

(88)

(75)

(9)

(11)

(6)

(38)

(23)

(37)

(87)

(70)

(38)

(70)

(153)

(61)

(71)

(59)

(25)

(88)

(94)

(47)

(174)

(12)

(20)

- -

Dividends Paid

- -

(26)

(32)

(37)

(43)

(46)

(47)

(48)

(49)

(51)

(53)

(57)

(61)

(69)

(76)

(81)

(96)

(101)

(109)

(130)

(152)

(174)

(203)

(251)

(296)

(346)

(388)

(437)

(487)

(523)

(558)

Other Financing Activities

- -

(23)

(8)

4

7

109

74

15

25

(40)

332

(79)

(7)

(23)

(4)

(2)

168

183

4

34

309

21

50

148

370

305

331

447

60

1,074

2,322

80

Cash Used/Provided by Financing Activities

- -

(49)

(40)

(34)

(36)

40

(19)

(113)

(111)

(165)

272

(143)

(71)

(122)

(97)

(115)

(94)

(112)

(235)

(144)

(324)

(193)

(196)

(229)

(71)

(510)

(389)

12

(926)

566

1,521

(487)

Effect of Forex Changes on Cash

- -

1

0

(1)

(7)

(6)

1

(3)

4

3

(22)

Net Change In Cash

- -

(49)

(40)

(34)

(36)

40

(19)

(113)

(16)

(88)

86

123

(212)

191

(49)

41

(23)

5

230

83

(5)

219

(248)

(100)

13

68

29

15

214

1,041

(1,101)

369

Cash at the End of Period

- -

188

101

186

310

98

289

131

172

150

155

385

468

463

682

434

334

347

415

444

459

673

1,714

614

982

Cash at the Beginning of Period

- -

172

226

158

249

190

189

147

204

188

101

186

310

98

180

131

172

150

155

385

468

463

682

434

334

347

415

444

459

673

1,714

614

Free Cash Flow

- -

109

6

134

(12)

(14)

46

153

160

51

243

262

12

214

322

185

211

146

454

396

394

385

531

588

848

737

789

852

629

761

770

856

SEC Link

Link

Forex Rate

- -

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Hormel Foods Corporation

40.51