CAG

MKT CAP:$7B

Conagra Brands, Inc.

Market Cap

$7B

Consumer Defensive·Packaged Foods·🇺🇸 United States·NYSE

Consumer Def.·Packaged Foods·🇺🇸·NYSE

Stock Price

$14.08-$3.22 (-18.61%)

Apr 24, 2026

Company Details

Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods food company in North America. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The G...

CEO

Sean Connolly

IPO Date

Mar 17, 1980

Website

www.conagrabrands.com

Key Metrics TTM

Revenue

$11.2B

-4.7% YoY

Net Income

-$43M

EPS (Diluted)

-$0.10

Free Cash Flow

$842M

Revenue / Share

$23.35

Gross Margin

24.2%

Operating Margin

12.3%

Net Margin

-0.4%

FCF Margin

7.5%

P/S

0.6x

P/E

—

Earnings Reports

Q3 2026

Apr 1, 2026

$2.8B-1.9%EPS $0.42

Q2 2026

Dec 19, 2025

$3.0B-6.8%EPS -$1.39

Q1 2026

Oct 1, 2025

$2.6B-5.8%EPS $0.34

FY 2025

Jul 10, 2025

$11.6B-3.6%EPS $2.41

Q4 2025

Jul 10, 2025

$2.8B-4.3%EPS $0.53

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$2.9B	$697M	$359M
Q4 22	$2.9B	$713M	$214M
Q1 23	$2.9B	$720M	-$21M
Q2 23	$3.3B	$922M	$550M
Q3 23	$3.1B	$839M	$490M
Q1 24	$2.9B	$823M	$489M
Q2 24	$3.2B	$847M	$449M
Q3 24	$3.0B	$859M	$471M
Q4 24	$2.9B	$805M	-$556M
Q1 25	$2.8B	$739M	$402M
Q2 25	$3.2B	$847M	$403M
Q3 25	$2.8B	$710M	$267M
Q4 25	$2.8B	$707M	$374M
Q1 26	$2.6B	$641M	$347M
Q2 26	$3.0B	$698M	$371M
Q3 26	$2.8B	$658M	$280M

Valuation

Quarter	P/S	P/E
Q3 22	1.5x	16.2x
Q4 22	1.3x	17.4x
Q1 23	1.4x	29.2x
Q2 23	1.5x	25.9x
Q3 23	1.4x	21.8x
Q1 24	1.2x	15.0x
Q2 24	1.1x	10.2x
Q3 24	1.1x	10.7x
Q4 24	1.2x	42.4x
Q1 25	1.2x	30.0x
Q2 25	1.1x	26.6x
Q3 25	1.1x	37.5x
Q4 25	0.9x	9.5x
Q1 26	0.8x	10.8x
Q2 26	0.7x	—
Q3 26	0.8x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$491M	$384M
Q4 22	$425M	$325M
Q1 23	$264M	$138M
Q2 23	$34M	-$29M
Q3 23	$406M	$327M
Q1 24	$444M	$300M
Q2 24	$411M	$341M
Q3 24	$677M	$581M
Q4 24	$484M	$406M
Q1 25	$269M	$136M
Q2 25	$486M	$403M
Q3 25	$592M	$503M
Q4 25	$346M	$261M
Q1 26	$121M	-$26M
Q2 26	$211M	$139M
Q3 26	$564M	$469M

Capital Expenditures

Quarter	CapEx
Q3 22	$107M
Q4 22	$100M
Q1 23	$125M
Q2 23	$63M
Q3 23	$79M
Q1 24	$144M
Q2 24	$70M
Q3 24	$96M
Q4 24	$79M
Q1 25	$133M
Q2 25	$82M
Q3 25	$89M
Q4 25	$85M
Q1 26	$147M
Q2 26	$72M
Q3 26	$96M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+5.1%	+10.0%
Q4 22	+6.2%	+9.9%
Q1 23	+9.5%	+27.8%
Q2 23	+8.3%	+4.3%
Q3 23	+5.9%	+1.6%
Q1 24	-0.2%	-10.4%
Q2 24	+10.5%	-5.7%
Q3 24	-8.5%	-7.3%
Q4 24	-5.9%	+33.3%
Q1 25	-3.8%	-0.9%
Q2 25	-0.4%	+1.2%
Q3 25	-6.3%	+0.5%
Q4 25	-4.3%	-30.5%
Q1 26	-5.8%	-4.5%
Q2 26	-6.8%	-6.6%
Q3 26	-1.9%	-2.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$13M	0.4%
Q4 22	-$700.0K	-0.0%
Q1 23	$23M	0.8%
Q2 23	$36M	1.1%
Q3 23	$10M	0.3%
Q1 24	-$3M	-0.1%
Q2 24	$6M	0.2%
Q3 24	$15M	0.5%
Q4 24	$12M	0.4%
Q1 25	$21M	0.7%
Q2 25	$9M	0.3%
Q3 25	$6M	0.2%
Q4 25	$5M	0.2%
Q1 26	$20M	0.7%
Q2 26	$14M	0.5%
Q3 26	$17M	0.6%

OpEx Breakdown

Quarter	R&D	G&A	SG&A
Q3 22	—	$338M	—
Q4 22	—	$499M	—
Q1 23	—	$742M	—
Q2 23	—	$373M	—
Q3 23	—	$349M	—
Q1 24	—	$334M	—
Q2 24	—	$398M	—
Q3 24	—	$387M	—
Q4 24	$61M	$1.4B	—
Q1 25	—	$338M	—
Q2 25	—	$444M	—
Q3 25	—	$444M	—
Q4 25	$61M	—	$333M
Q1 26	—	—	$336M
Q2 26	—	—	$327M
Q3 26	—	—	$378M

Revenue Segments

Quarter	Foodservice	Grocery And Snacks	International	Refrigerated And Frozen
Q3 22	$235M	$1.2B	$241M	$1.2B
Q1 23	$275M	$1.2B	$234M	$1.2B
Q2 23	$283M	$1.3B	$259M	$1.4B
Q3 23	$275M	$1.2B	$260M	$1.3B
Q1 24	$289M	$1.2B	$260M	$1.2B
Q2 24	$295M	$1.3B	$280M	$1.3B
Q3 24	$273M	$1.3B	$272M	$1.2B
Q4 24	$291M	$1.2B	$267M	$1.2B
Q1 25	$267M	$1.2B	$259M	$1.1B
Q2 25	$292M	$1.3B	$243M	$1.3B
Q3 25	$256M	$1.2B	$224M	$1.1B
Q4 25	$280M	$1.2B	$230M	$1.1B
Q2 26	$288M	$1.2B	$230M	$1.3B
Q3 26	$261M	$1.2B	$227M	$1.1B

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$83M	$0	$83M
Q1 23	$67M	$0	$67M
Q2 23	$40M	$0	$40M
Q3 23	$71M	$0	$71M
Q4 23	$93M	$0	$93M
Q1 24	$93M	$0	$93M
Q2 24	$62M	$0	$62M
Q3 24	$79M	$0	$79M
Q4 24	$78M	$0	$78M
Q1 25	$129M	$0	$129M
Q2 25	$37M	$0	$37M
Q3 25	$49M	$0	$49M
Q4 25	$68M	$0	$68M
Q1 26	$698M	$0	$698M
Q2 26	$47M	$0	$47M
Q3 26	$55M	$0	$55M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	482M	+0.1%	-1.1%
Q4 22	483M	+0.1%	-0.0%
Q1 23	481M	-0.4%	-0.4%
Q2 23	481M	+0.1%	-0.2%
Q3 23	479M	-0.3%	-0.6%
Q1 24	480M	+0.1%	-0.6%
Q2 24	480M	0.0%	-0.2%
Q3 24	480M	+0.0%	-0.2%
Q4 24	479M	-0.3%	-0.1%
Q1 25	480M	+0.3%	+0.1%
Q2 25	479M	-0.2%	-0.1%
Q3 25	479M	0.0%	-0.1%
Q4 25	478M	-0.2%	-0.1%
Q1 26	480M	+0.3%	-0.1%
Q2 26	479M	-0.2%	-0.1%
Q3 26	479M	+0.0%	-0.1%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$156.7K	19K
Q4 22	$161.7K	18K
Q1 23	$161.3K	18K
Q2 23	$184.1K	18K
Q3 23	$171.5K	18K
Q1 24	$156.1K	19K
Q2 24	$172.5K	19K
Q3 24	$163.1K	19K
Q4 24	$157.1K	19K
Q1 25	$151.1K	19K
Q2 25	$172.7K	19K
Q3 25	$153.6K	19K
Q4 25	$152.0K	18K
Q1 26	$143.9K	18K
Q2 26	$162.8K	18K
Q3 26	$152.3K	18K

Revenue / Employee