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Cal-Maine Foods
(NASDAQ:CALM)
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Rating:62Neutral
Price Target:
$70.00
▼(-15.72% Downside)
Action:Reiterated
Date:10/02/26
The score reflects strong financial resilience from a near debt-free balance sheet and liquidity, but it is held back by the current earnings/cash-flow down-cycle and very weak technical trend signals. Valuation is also mixed, with a high P/E offset by the indicated high dividend yield, while management commentary points to near-term pressure but a credible longer-term diversification and capacity-driven growth plan.
Positive Factors
Minimal debt and strong liquidity
The virtually debt-free balance sheet and substantial liquidity provide resilience through egg-market cycles. This financial flexibility supports continued investment in Prepared Foods, preserves capacity for strategically aligned acquisitions, and reduces the risk that leverage constrains operations during weaker earnings periods.
Negative Factors
Oversupplied conventional egg market
Persistent oversupply places structural pressure on wholesale prices and can keep the company’s largest business below attractive profitability levels. Because management cannot predict when supply will rebalance, earnings may remain volatile while excess production continues to outpace market absorption.
Read all positive and negative factors
Positive Factors
Negative Factors
Minimal debt and strong liquidity
The virtually debt-free balance sheet and substantial liquidity provide resilience through egg-market cycles. This financial flexibility supports continued investment in Prepared Foods, preserves capacity for strategically aligned acquisitions, and reduces the risk that leverage constrains operations during weaker earnings periods.
Read all positive factors
Cal-Maine Foods Key Performance Indicators (KPIs)
Any
Revenue By Product Category
Shows how much revenue each product category generates, highlighting which segments drive growth and profitability. This can indicate consumer preferences and the company's strategic focus areas.
Shows how much revenue each product category generates, highlighting which segments drive growth and profitability. This can indicate consumer preferences and the company's strategic focus areas.
Data provided by:
The Fly
The FlyCal-Maine Foods (CALM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.01B
Dividend Yield7.48%
Average Volume (3M)1.24M
Price to Earnings (P/E)54.1
Beta (1Y)0.32
Revenue Growth-42.51%
EPS Growth-95.45%
CountryUS
Employees4,836
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)1.19
Shares Outstanding46,710,613
10 Day Avg. Volume1,871,077
30 Day Avg. Volume1,236,773
Financial Highlights & Ratios
PEG Ratio-0.15
Price to Book (P/B)1.35
Price to Sales (P/S)1.22
P/FCF Ratio10.73
Enterprise Value/Market Cap0.99
Enterprise Value/Revenue1.18
Enterprise Value/Gross Profit8.28
Enterprise Value/Ebitda20.55
Forecast
1Y Price Target
$68.33Price Target Upside-17.73% Downside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)-0.61
Revenue Forecast (FY)$2.46B
Cal-Maine Foods Business Overview & Revenue Model
Company Description
Cal-Maine Foods, Inc., along with its various subsidiary companies, handles the full scope of shell egg operations, from production and sorting to packaging, promotion, and delivery. The firm also offers a selection of specialized shell eggs, such...
How the Company Makes Money
Cal-Maine makes money primarily by selling shell eggs to customers, generating revenue largely from (1) conventional shell eggs and (2) specialty shell eggs. Its revenue model is volume- and price-driven: the company produces (and in some cases so...
Cal-Maine Foods Earnings Call Summary
Earnings Call Date:Sep 30, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Mar 30, 2027
Earnings Call Sentiment Neutral
The call presented a difficult near-term operating environment, marked by an oversupplied conventional egg market, sharply lower revenue, a consolidated operating loss, higher feed and operating costs, negative operating cash flow and no current dividend. These challenges were balanced by healthy underlying egg demand, early indicators of potential supply reduction, strong liquidity, minimal debt, share repurchases and substantial Prepared Foods capacity expansion. Management remained constructive about the company's longer-term diversification and earnings-building strategy, but acknowledged that the timing of conventional market normalization and the full contribution from Prepared Foods remain uncertain.Positive Updates
Healthy Long-Term Egg Demand
Management said it does not see structural weakness in egg demand. Calendar year-to-date through August, measured retail egg volume increased approximately 4%, while national retail dozens remained slightly positive year-over-year in the 4 weeks ended August 29, 2026, despite average price per dozen declining approximately 27%.
Negative Updates
Conventional Egg Market Remains Oversupplied
Management said the conventional shell egg market remains oversupplied, continuing to put downward pressure on wholesale prices. It also said supply remains greater than even healthy demand can absorb and that the timing of market rebalancing cannot be predicted precisely.
Read all updates
Q1-2027 Updates
Positive
Negative
Healthy Long-Term Egg Demand
Management said it does not see structural weakness in egg demand. Calendar year-to-date through August, measured retail egg volume increased approximately 4%, while national retail dozens remained slightly positive year-over-year in the 4 weeks ended August 29, 2026, despite average price per dozen declining approximately 27%.
Read all positive updates
Company Guidance
Management expects Prepared Foods production capacity to increase by more than 60% by the first half of fiscal 2028 compared to the end of fiscal 2026, including approximately 12 million pounds of annual production capacity through early fiscal 2027 from the high-speed pancake line, approximately 17 million pounds of annual scrambled egg production capacity through fiscal 2027 from the network optimization and expansion project, and approximately 18 million pounds of additional production capacity progressively through fiscal 2028 in Crepini, complemented by the additional $54 million of Prepared Foods capacity investments announced last quarter; top-line growth is expected in the second half of this year as capacity is commercialized, with Q2 including upfront costs that should moderate a little in the back half of this year, while no guidance was provided on full-year margins. Unallocated corporate G&A was about $8.5 million over the previous period and was described as about where management expects it to be, feed will continue to be up, with most pricing updates occurring within 2 weeks to a month and a few stretching out to a quarter type look back, and Specialty Shell Eggs are expected to trend more with what the market is doing, although management cannot predict the timing of pricing adjustments.Cal-Maine Foods Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
90
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | May 2026 | May 2025 | May 2024 | May 2023 | May 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.53B | 2.91B | 4.26B | 2.33B | 3.15B | 1.78B |
| Gross Profit | 361.14M | 672.05M | 1.85B | 541.57M | 1.20B | 337.06M |
| EBITDA | 145.42M | 467.10M | 1.70B | 440.76M | 1.07B | 234.81M |
| Net Income | 58.73M | 316.68M | 1.22B | 277.89M | 758.02M | 132.65M |
Balance Sheet | ||||||
| Total Assets | 3.01B | 3.11B | 3.10B | 2.20B | 1.96B | 1.44B |
| Cash, Cash Equivalents and Short-Term Investments | 767.59M | 924.06M | 1.39B | 812.38M | 647.91M | 174.51M |
| Total Debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.44M |
| Total Liabilities | 433.43M | 467.04M | 536.47M | 401.89M | 354.14M | 332.96M |
| Stockholders Equity | 2.57B | 2.63B | 2.56B | 1.80B | 1.61B | 1.10B |
Cash Flow | ||||||
| Free Cash Flow | -29.52M | 331.79M | 1.07B | 304.28M | 726.44M | 53.81M |
| Operating Cash Flow | 103.01M | 483.01M | 1.23B | 451.40M | 863.01M | 126.21M |
| Investing Cash Flow | 13.25M | -507.14M | -579.52M | -412.59M | -375.11M | -117.02M |
| Financing Cash Flow | -253.62M | -362.75M | -386.72M | -93.76M | -254.16M | -7.46M |
Cal-Maine Foods Technical Analysis
Negative
83.06
Price Trends
76.17
Negative
78.83
Negative
79.38
Negative
Market Momentum
-3.60
Positive
30.09
Neutral
29.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CALM, the sentiment is Negative. The current price of 83.06 is above the 20-day moving average (MA) of 69.04, above the 50-day MA of 76.17, and above the 200-day MA of 79.38, indicating a bearish trend. The MACD of -3.60 indicates Positive momentum. The RSI at 30.09 is Neutral, neither overbought nor oversold. The STOCH value of 29.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CALM.
Cal-Maine Foods Risk Analysis
Cal-Maine Foods disclosed 38 risk factors in its most recent earnings report. Cal-Maine Foods reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cal-Maine Foods Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $327.73M | 13.62 | 7.56% | ― | -23.88% | 115.43% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | $3.01B | 54.08 | 2.22% | 7.48% | -42.51% | -95.45% | |
57 Neutral | $1.39B | 40.94 | 1.69% | 4.07% | -0.14% | -77.00% | |
54 Neutral | $1.24B | 16.80 | 4.38% | 2.59% | 8.32% | 208.64% | |
53 Neutral | $18.42B | 31.99 | 3.18% | 3.83% | 2.86% | -26.18% | |
52 Neutral | $400.55M | -661.70 | 0.05% | ― | 16.37% | -102.23% |
* Consumer Defensive Sector Average
CALM
Cal-Maine Foods
64.35
-25.05
-28.02%
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Cal-Maine Foods Corporate Events
Executive/Board ChangesShareholder Meetings
Cal-Maine Foods Shareholders Back Governance and Oversight
Positive
Oct 2, 2026
At Cal-Maine Foods’ Annual Meeting of Stockholders held on October 2, 2026, shareholders elected Class II directors to the board, with Haley R. Fisackerly receiving strong support while Max P. Bowman and Letitia C. Hughes drew more mixed vot...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Cal-Maine Foods Establishes New $250 Million Credit Facility
Positive
Sep 2, 2026
On August 31, 2026, Cal-Maine Foods entered into a Second Amended and Restated Credit Agreement with BMO Bank N.A. and other lenders, establishing a senior unsecured revolving credit facility of up to $250 million, including sublimits for standby ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.