Is the business good?
How good a business is CALM?
Cal-Maine Foods, Inc. earns 43% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
43%
Return on invested capital · cost of capital 9.0% · 34 points above what the capital costs: growth creates value
- Operating margin
- 24%
Operating margin · Consumer Defensive median 9.0% · 12 months to Q3 2026
- Cash conversion
- 1.04×
Cash conversion · 0.87× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −3.2%
Share count, year on year · bought back, each share owns more of the company
| Year | Operating margin |
|---|---|
| FY2020 | 0.09% |
| FY2021 | −1.9% |
| FY2022 | 8.1% |
| FY2023 | 31% |
| FY2024 | 13% |
| FY2025 | 36% |
Details›
- Gross margin12 months to Q3 2026
- 34%
- Operating margin12 months to Q3 2026
- 24%
- Net margin12 months to Q3 2026
- 20%
- Free cash flow margin
- 21%
- Revenue, trailing twelve months
- $3.46B
- Free cash flow, trailing twelve months
- $720M
- Net income, trailing twelve months
- $695M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 43%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Farm Products
Ranks #1 of 6 by Smart Score