Is the business good?
How good a business is CPB?
Campbell's Company (The) earns 8.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
8.3%
Return on invested capital · cost of capital 9.0% · 0.70 points below what the capital costs: growth destroys value
- Operating margin
- 11%
Operating margin · Packaged Foods median 8.2% · 12 months to Q3 2026
- Cash conversion
- 1.10×
Cash conversion · 1.59× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- 0.00%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 13% |
| FY2021 | 18% |
| FY2022 | 14% |
| FY2023 | 14% |
| FY2024 | 10% |
| FY2025 | 11% |
Details›
- Gross margin12 months to Q3 2026
- 29%
- Operating margin12 months to Q3 2026
- 11%
- Net margin12 months to Q3 2026
- 6.1%
- Free cash flow margin
- 6.8%
- R&D as % of revenue
- 0.98%
- Revenue, trailing twelve months
- $9.93B
- Free cash flow, trailing twelve months
- $671M
- Net income, trailing twelve months
- $608M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 8.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.