Is the business good?
How good a business is CAG?
Conagra Brands earns −9.6% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−9.6%
Return on invested capital · cost of capital 9.0% · 19 points below what the capital costs: growth destroys value
- Operating margin
- −14%
Operating margin · Packaged Foods median 8.2% · 12 months to Q4 2026
- Gross margin
- 24%
Gross margin
| Year | Operating margin |
|---|---|
| FY2021 | 19% |
| FY2022 | 14% |
| FY2023 | 8.8% |
| FY2024 | 7.1% |
| FY2025 | 12% |
| FY2026 | −14% |
Details›
- Gross margin12 months to Q4 2026
- 24%
- Operating margin12 months to Q4 2026
- −14%
- Net margin12 months to Q4 2026
- −17%
- Free cash flow margin
- 8.7%
- Revenue, trailing twelve months
- $11.3B
- Free cash flow, trailing twelve months
- $979M
- Net income, trailing twelve months
- −$1.92B
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −9.6%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.