LW

MKT CAP:$6B

Lamb Weston Holdings, Inc.

Market Cap

$6B

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

Consumer Def.·Packaged Foods·🇺🇸·NYSE

Stock Price

$44.13+$1.84 (+4.35%)

Apr 23, 2026

Company Details

Lamb Weston Holdings, Inc. produces, distributes, and markets value-added frozen potato products worldwide. It operates through four segments: Global, Foodservice, Retail, and Other. The company offers frozen potatoes, commercial ingredient...

CEO

Michael Jared Smith

IPO Date

Nov 10, 2016

Website

www.lambweston.com

Key Metrics TTM

Revenue

$6.5B

+2.0% YoY

Net Income

$300M

EPS (Diluted)

$2.14

Free Cash Flow

$634M

Revenue / Share

$46.79

Gross Margin

20.6%

Operating Margin

9.3%

Net Margin

4.6%

FCF Margin

9.7%

P/S

0.9x

P/E

20.4x

Earnings Reports

Q3 2026

Apr 1, 2026

$1.6B+2.9%EPS $0.39

Q2 2026

Dec 19, 2025

$1.6B+1.1%EPS $0.44

Q1 2026

Sep 30, 2025

$1.7B+0.3%EPS $0.46

FY 2025

Jul 23, 2025

$6.5B-0.3%EPS $2.50

Q4 2025

Jul 23, 2025

$1.7B+4.0%EPS $0.85

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 22	$1.2B	$254M	$136M
Q1 23	$1.1B	$273M	$157M
Q2 23	$1.3B	$382M	$272M
Q3 23	$1.3B	$398M	$266M
Q4 23	$1.7B	$379M	$187M
Q1 24	$1.7B	$500M	$323M
Q2 24	$1.7B	$476M	$306M
Q3 24	$1.5B	$404M	$224M
Q4 24	$1.6B	$388M	$213M
Q1 25	$1.7B	$356M	$212M
Q2 25	$1.6B	$278M	$19M
Q3 25	$1.5B	$423M	$249M
Q4 25	$1.7B	$342M	$186M
Q1 26	$1.7B	$342M	$157M
Q2 26	$1.6B	$324M	$139M
Q3 26	$1.6B	$332M	$127M

Valuation

Quarter	P/S	P/E
Q4 22	2.4x	49.4x
Q1 23	2.7x	28.7x
Q2 23	2.7x	26.0x
Q3 23	3.1x	27.2x
Q4 23	3.1x	16.5x
Q1 24	2.4x	13.8x
Q2 24	2.3x	12.8x
Q3 24	2.2x	13.5x
Q4 24	1.9x	17.2x
Q1 25	1.4x	14.4x
Q2 25	1.7x	29.7x
Q3 25	1.2x	20.0x
Q4 25	1.2x	21.1x
Q1 26	1.2x	26.8x
Q2 26	1.2x	20.1x
Q3 26	1.0x	21.9x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 22	$244M	$172M
Q1 23	$192M	$91M
Q2 23	$96M	-$36M
Q3 23	$47M	-$149M
Q4 23	$427M	$202M
Q1 24	$335M	$67M
Q2 24	$121M	-$120M
Q3 24	$26M	-$230M
Q4 24	$317M	$151M
Q1 25	$330M	$4M
Q2 25	$99M	-$50M
Q3 25	$56M	-$20M
Q4 25	$383M	$295M
Q1 26	$352M	$274M
Q2 26	$178M	$101M
Q3 26	$65M	-$36M

Capital Expenditures

Quarter	CapEx
Q4 22	$72M
Q1 23	$101M
Q2 23	$132M
Q3 23	$197M
Q4 23	$225M
Q1 24	$267M
Q2 24	$240M
Q3 24	$256M
Q4 24	$166M
Q1 25	$326M
Q2 25	$149M
Q3 25	$76M
Q4 25	$88M
Q1 26	$78M
Q2 26	$77M
Q3 26	$102M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 22	+14.5%	+11.9%
Q1 23	+14.4%	+4.8%
Q2 23	+26.8%	+12.6%
Q3 23	+31.3%	+20.2%
Q4 23	+47.0%	+48.3%
Q1 24	+47.9%	+38.6%
Q2 24	+35.7%	+42.0%
Q3 24	+16.3%	+25.0%
Q4 24	-4.9%	-7.2%
Q1 25	-0.7%	+7.5%
Q2 25	-7.6%	+10.9%
Q3 25	+4.3%	+3.0%
Q4 25	+4.0%	+6.5%
Q1 26	+0.3%	+4.2%
Q2 26	+1.1%	-6.5%
Q3 26	+2.9%	+13.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 22	$6M	0.5%
Q1 23	$8M	0.7%
Q2 23	$10M	0.8%
Q3 23	$10M	0.8%
Q4 23	$11M	0.6%
Q1 24	$10M	0.6%
Q2 24	$12M	0.7%
Q3 24	$12M	0.8%
Q4 24	$12M	0.8%
Q1 25	$10M	0.6%
Q2 25	$12M	0.8%
Q3 25	$9M	0.6%
Q4 25	$9M	0.5%
Q1 26	$11M	0.6%
Q2 26	$10M	0.6%
Q3 26	$11M	0.7%

OpEx Breakdown

Quarter	G&A	SG&A
Q4 22	—	$118M
Q1 23	—	$116M
Q2 23	—	$110M
Q3 23	—	$132M
Q4 23	—	$192M
Q1 24	—	$176M
Q2 24	$165M	—
Q3 24	$170M	—
Q4 24	—	$175M
Q1 25	—	$144M
Q2 25	$181M	—
Q3 25	$152M	—
Q4 25	—	$175M
Q1 26	—	$154M
Q2 26	$168M	—
Q3 26	—	$157M

Revenue Segments

Quarter	All Other Segments	Foodservice Segment	Global Segment	Retail Segment
Q1 23	$30M	$366M	$560M	$170M
Q2 23	$34M	$358M	$693M	$192M
Q3 23	$29M	$360M	$649M	$216M
Q1 24	—	—	$530M	$1.1B
Q2 24	—	—	$565M	$1.2B
Q3 24	—	—	$511M	$948M
Q4 24	—	—	$499M	$1.1B
Q1 25	—	—	$550M	$1.1B
Q2 25	—	—	$529M	$1.1B
Q3 25	—	—	$534M	$986M
Q4 25	—	—	$573M	$1.1B
Q1 26	—	—	$575M	$1.1B
Q2 26	—	—	$549M	$1.1B
Q3 26	—	—	$530M	$1.0B

Revenue by Geography

Quarter	Global	Segments, North America
Q1 24	$530M	$1.1B
Q2 24	$565M	$1.2B
Q3 24	$511M	$948M
Q4 24	$499M	$1.1B
Q1 25	$550M	$1.1B
Q2 25	$529M	$1.1B
Q3 25	$534M	$986M
Q4 25	$573M	$1.1B
Q1 26	$575M	$1.1B
Q2 26	$549M	$1.1B
Q3 26	$530M	$1.0B

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 22	$525M	$0	$525M
Q1 23	$485M	$0	$485M
Q2 23	$419M	$0	$419M
Q3 23	$675M	$0	$675M
Q4 23	$305M	$0	$305M
Q1 24	$163M	$0	$163M
Q2 24	$78M	$0	$78M
Q3 24	$62M	$0	$62M
Q4 24	$71M	$0	$71M
Q1 25	$121M	$0	$121M
Q2 25	$79M	$0	$79M
Q3 25	$68M	$0	$68M
Q4 25	$71M	$0	$71M
Q1 26	$99M	$0	$99M
Q2 26	$83M	$0	$83M
Q3 26	$58M	$0	$58M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 22	145M	-0.3%	-1.4%
Q1 23	145M	-0.3%	-1.6%
Q2 23	145M	0.0%	-1.2%
Q3 23	145M	+0.1%	-0.5%
Q4 23	147M	+1.4%	+1.2%
Q1 24	147M	-0.1%	+1.4%
Q2 24	146M	-0.8%	+0.6%
Q3 24	145M	-0.1%	+0.3%
Q4 24	145M	-0.2%	-1.2%
Q1 25	144M	-0.6%	-1.6%
Q2 25	143M	-0.7%	-1.6%
Q3 25	142M	-0.6%	-2.0%
Q4 25	141M	-1.0%	-2.8%
Q1 26	140M	-0.9%	-3.1%
Q2 26	140M	-0.1%	-2.5%
Q3 26	139M	-0.2%	-2.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 22	$144.1K	8K
Q1 23	$140.7K	8K
Q2 23	$159.6K	8K
Q3 23	$156.7K	8K
Q4 23	$164.6K	10K
Q1 24	$161.7K	10K
Q2 24	$168.2K	10K
Q3 24	$141.6K	10K
Q4 24	$150.6K	11K
Q1 25	$154.6K	11K
Q2 25	$149.6K	11K
Q3 25	$142.1K	11K
Q4 25	$165.9K	10K
Q1 26	$164.3K	10K
Q2 26	$160.2K	10K
Q3 26	$154.9K	10K

Revenue / Employee