Want to see NOMD full AI Analyst Report?
Top Page
Nomad Foods
(NYSE:NOMD)
Select Model
Select Model
Rating:65Neutral
Price Target:
$12.00
▼(-1.23% Downside)
Action:Reiterated
Date:08/18/26
The score is primarily held back by weakening financial performance (sharp TTM revenue decline, lower margins, and modest cash-flow coverage versus debt). Offsetting this are supportive valuation (low P/E and high dividend yield), a moderately constructive earnings outlook tied to margin recovery and a EUR 200m productivity program, and mixed-but-stable technicals with mild positive momentum.
Positive Factors
Frozen Category Growth
Underlying category growth supports demand for Nomad’s branded frozen foods and provides a favorable backdrop for volume recovery. Sustained consumer usage and resilient freezer-aisle demand can help the company rebuild distribution and market share over time.
Negative Factors
Revenue and Volume Decline
Lower volumes indicate that pricing has not yet fully offset weaker demand and distribution disruption. Continued revenue contraction would limit operating leverage, reduce brand investment capacity and make the turnaround more dependent on cost savings.
Read all positive and negative factors
Positive Factors
Negative Factors
Frozen Category Growth
Underlying category growth supports demand for Nomad’s branded frozen foods and provides a favorable backdrop for volume recovery. Sustained consumer usage and resilient freezer-aisle demand can help the company rebuild distribution and market share over time.
Read all positive factors
Nomad Foods (NOMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.70B
Dividend Yield5.67%
Average Volume (3M)1.35M
Price to Earnings (P/E)11.7
Beta (1Y)0.09
Revenue Growth3.56%
EPS Growth-31.26%
CountryUS
Employees7,024
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.88
Shares Outstanding139,791,170
10 Day Avg. Volume1,391,472
30 Day Avg. Volume1,347,307
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)0.64
Price to Sales (P/S)0.53
P/FCF Ratio6.34
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$13.33Price Target Upside9.74% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)1.44
Revenue Forecast (FY)$2.94B
Nomad Foods Business Overview & Revenue Model
Company Description
Nomad Foods Limited operates as a leading entity in the frozen food industry, handling the manufacturing, promotion, and supply of its diverse product range across a significant portion of Europe. Its operational reach extends to countries includi...
How the Company Makes Money
Nomad Foods makes money by selling branded frozen food products to retail and food distribution customers, with revenue recognized from the sale of finished goods. Its core revenue stream is wholesale sales of frozen items (such as fish, vegetable...
Nomad Foods Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call conveyed a generally constructive outlook: the underlying frozen category is growing, gross margins are improving via pricing, and a EUR 200m productivity program is on track. Management highlighted strong brand equity, resolved most retail disruptions, and presented a comprehensive turnaround plan to be detailed at Analyst Day. Key challenges include a near-term market share shortfall from earlier retail disruptions, uncertainty on elasticity and the timing of further price recovery, some small phasing/one‑time effects that may reverse, and the suspension of buybacks while deleveraging. On balance, the positives (category strength, margin recovery, sizable productivity program, and strategic actions) outweigh the negatives.Positive Updates
Strong Category Growth
Frozen category performance remained robust: year-to-date value +3.4% and volume +1.6%; last 3 months value +2.8% and volume +1.1%, indicating continued consumer demand and a favorable market backdrop.
Negative Updates
Market Share Shortfall and Uncertain Timeline for Recovery
Retail disruptions in the first half materially pressured market share such that market share was 'not where we wanted.' Management expects improvement in H2 but said returning to market share neutrality will take more time and declined to provide a specific timeline.
Read all updates
Q2-2026 Updates
Positive
Negative
Strong Category Growth
Frozen category performance remained robust: year-to-date value +3.4% and volume +1.6%; last 3 months value +2.8% and volume +1.1%, indicating continued consumer demand and a favorable market backdrop.
Read all positive updates
Company Guidance
Management said they expect improvement in the second half but that returning to market‑share neutrality will take time, with better sales and share performance expected in Q3 and Q4; the frozen category is +3.4% value / +1.6% volume year‑to‑date (last 3 months +2.8% value / +1.1% volume). They cited an on‑track EUR 200m productivity program (Q2 actions included a factory closure and marketing restructuring), said pricing is driving gross‑margin recovery, and pointed to recent retailer price moves (UK up ~20–30% mid‑July; Carrefour up to +32% on certain SKUs; Aldi/Edeka/Rewe ~+20% in German fish categories). Management flagged modest phasing impacts of a few million euros in A&P/overheads and EUR 1–2m of recipe variances, noted the price index has edged down slightly, confirmed buybacks are suspended while dividends continue to prioritize deleveraging, and said they will provide more detailed targets (including leverage) at Analyst Day in October.Nomad Foods Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
63
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.96B | 3.03B | 3.10B | 3.04B | 2.94B | 2.61B |
| Gross Profit | 797.90M | 823.00M | 917.80M | 858.70M | 815.30M | 744.30M |
| EBITDA | 327.53M | 254.70M | 505.10M | 480.50M | 492.20M | 369.80M |
| Net Income | 124.30M | 136.70M | 227.10M | 192.70M | 249.80M | 181.00M |
Balance Sheet | ||||||
| Total Assets | 6.38B | 6.33B | 6.43B | 6.42B | 6.33B | 6.17B |
| Cash, Cash Equivalents and Short-Term Investments | 273.40M | 329.30M | 403.00M | 412.70M | 369.40M | 254.00M |
| Total Debt | 2.31B | 2.29B | 2.18B | 2.15B | 2.17B | 2.23B |
| Total Liabilities | 3.86B | 3.84B | 3.77B | 3.82B | 3.72B | 3.87B |
| Stockholders Equity | 2.52B | 2.50B | 2.66B | 2.59B | 2.61B | 2.30B |
Cash Flow | ||||||
| Free Cash Flow | 204.77M | 252.20M | 355.10M | 348.40M | 224.70M | 227.10M |
| Operating Cash Flow | 284.10M | 330.70M | 435.40M | 430.80M | 303.80M | 306.30M |
| Investing Cash Flow | -77.83M | -74.60M | -64.40M | -76.80M | -78.70M | -660.00M |
| Financing Cash Flow | -191.52M | -332.10M | -366.40M | -321.50M | -108.10M | 214.40M |
Nomad Foods Technical Analysis
Positive
12.15
Price Trends
11.36
Positive
10.49
Positive
10.88
Positive
Market Momentum
0.15
Negative
57.82
Neutral
65.60
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NOMD, the sentiment is Positive. The current price of 12.15 is above the 20-day moving average (MA) of 11.75, above the 50-day MA of 11.36, and above the 200-day MA of 10.88, indicating a bullish trend. The MACD of 0.15 indicates Negative momentum. The RSI at 57.82 is Neutral, neither overbought nor oversold. The STOCH value of 65.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NOMD.
Nomad Foods Risk Analysis
Nomad Foods disclosed 60 risk factors in its most recent earnings report. Nomad 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
Nomad Foods Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $7.45B | 13.53 | 14.85% | ― | 1.42% | -55.97% | |
67 Neutral | $6.93B | 11.36 | 15.30% | 7.14% | -2.90% | 33.92% | |
67 Neutral | $13.99B | 61.32 | -2.44% | 3.72% | 5.08% | ― | |
65 Neutral | $1.70B | 11.74 | 4.96% | 5.80% | 3.56% | -31.26% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
59 Neutral | $13.05B | 33.77 | 5.86% | 4.61% | 0.73% | -54.64% | |
58 Neutral | $7.75B | -4.01 | -24.31% | 9.48% | -2.85% | -265.99% |
* Consumer Defensive Sector Average
NOMD
Nomad Foods
11.99
-2.50
-17.26%
CPB
Campbell Soup
23.28
-6.47
-21.75%
CAG
Conagra Brands
16.02
-1.39
-7.99%
HRL
Hormel Foods
21.28
-2.68
-11.20%
SJM
JM Smucker
131.84
29.34
28.63%
PPC
Pilgrim's Pride
31.11
-12.52
-28.70%
Nomad Foods Corporate Events
Nomad Foods Lifts Margins but Cuts 2026 EPS Outlook as Volumes Decline
Aug 13, 2026
On August 13, 2026, Nomad Foods reported results for the second quarter and first half of 2026, showing a 3.1% year-on-year decline in Q2 reported revenue to €724 million and a 4.5% decline in first-half revenue to €1,439 million, driv...
Nomad Foods Refinances €800m Notes and Announces Quarterly Dividend
Jul 30, 2026
On July 30, 2026, Nomad Foods refinanced its capital structure by issuing €800 million of 5.25% senior secured notes due July 15, 2033 through its subsidiary Nomad Foods Bondco Plc, under a new indenture that will be fully guaranteed by grou...
Nomad Foods Prices €800 Million Senior Secured Notes to Extend Debt Maturities
Jul 22, 2026
On July 22, 2026, Nomad Foods announced that its indirect wholly owned subsidiary Nomad Foods Bondco Plc had priced an €800 million offering of 5.25% senior secured notes due 2033. The proceeds are intended to fully refinance an existing ...
Nomad Foods Posts Stronger-Than-Expected Q2 Preliminary Results and Plans Debt Refinancing
Jul 20, 2026
Nomad Foods announced on July 20, 2026 that its preliminary financial results for the quarter ended June 30, 2026 indicate a 2.5% to 3.5% decline in reported and organic revenue, with adjusted EBITDA expected between €120 million and €...
Nomad Foods Shareholders Back Board Slate and Auditor at 2026 AGM
Jun 24, 2026
On June 22, 2026, Nomad Foods Limited held its 2026 annual meeting of shareholders, with 65.74% of outstanding ordinary shares represented in person or by proxy. Shareholders elected nine directors to one-year terms expiring at the 2027 annual mee...
Nomad Foods Updates Governance Disclosure Ahead of June 22, 2026 Shareholder Meeting
Jun 8, 2026
Nomad Foods filed a Form 6-K on June 8, 2026, amending its definitive proxy statement for the 2026 Annual Meeting of Shareholders scheduled for June 22, 2026. The filing updates its corporate governance disclosure, noting that in fiscal 2025 board...
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.