Cal-maine Foods Inc
CAL-Maine Foods Inc. is a producer of shell eggs and prepared egg products, generating revenue through the sale of cage-free and conventional eggs to wholesale and retail customers, as well as value-added prepared foods.
Business. CAL-MAINE FOODS INC (CALM) is an oil and gas exploration and production company listed on the Nasdaq exchange. The firm operates within the Oil & Gas industry group, focusing on exploration and production activities. Specific details regarding operating segments, headquarters location, and geographic revenue mix are not available in the provided data. Consequently, the company is described at the industry level based on its primary business activity.
Analyst recommendations
5 analysts · consensus HoldAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
2Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-09-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
CAL-MAINE FOODS INC (CALM) is an oil and gas exploration and production company listed on the Nasdaq exchange. The firm operates within the Oil & Gas industry group, focusing on exploration and production activities. Specific details regarding operating segments, headquarters location, and geographic revenue mix are not available in the provided data. Consequently, the company is described at the industry level based on its primary business activity.
CAL-Maine Foods maintains a conservative capital structure with zero debt-to-equity and a current ratio of 7.7, indicating strong short-term liquidity despite a "low" liquidity risk rating in the assessment. The company holds $107.2 million in cash and equivalents against total liabilities of $467.0 million, while generating $479.8 million in operating cash flow and $328.5 million in free cash flow for FY2026. This robust cash generation supports a dividend or buyback capacity, though the medium dilution risk flag suggests potential equity issuance or option exercises that could offset share count stability.
Profitability metrics show a return on equity of 12.0% and return on assets of 10.2%, with a net income of $316.7 million on $2.91 billion in revenue. The gross profit of $672.0 million yields a gross margin of approximately 23.1%, while operating income of $350.2 million reflects an operating margin of roughly 12.0%. These returns are generated without leverage, as evidenced by the 0.0 debt-to-equity ratio, allowing the company to weather commodity price fluctuations in feed costs and egg prices without interest expense pressure.
- Zero debt and high current ratio (7.7) provide strong financial flexibility and low interest rate risk.
- HPAI outbreaks remain a critical operational risk, with recent impacts in March 2026 affecting flock health.
- Acquisition of Echo Lake Foods expands cage-free capacity, aligning with consumer demand for specialty eggs.
- Medium dilution risk suggests potential equity issuance or option exercises that may pressure per-share metrics.
- Analyst price targets ($80.13 median) are below current market price ($87.86), indicating limited near-term upside consensus.
- Prepared foods segment offers diversification and margin expansion opportunities beyond commodity shell eggs.
Bull / Bear case
Generated · model-assistedNet income CAGR of 109.5% from FY2024 to FY2026 signals exceptional earnings growth momentum.
Free cash flow surged to $1.06 billion in FY2025, demonstrating strong cash generation capabilities.
Operating margin of 12.0% matches the cohort median, indicating competitive efficiency within the sector.
Current ratio of 6.38 indicates robust liquidity and low short-term solvency risk.
Analyst consensus suggests 5.0% downside, with a mean price target below the current market price.
Revenue declined significantly from $4.26 billion in FY2025 to $2.91 billion in FY2026.
Net income dropped sharply from $1.22 billion in FY2025 to $317 million in FY2026.
Medium dilution risk flags potential equity value erosion for existing shareholders.
Capex to revenue ratio of 5.2% is above the 75th percentile, indicating high capital intensity.
In focus — financials by report
Revenue $2.36B; Operating income $409.0M.
- ▍Revenue $2.36B
- ▍Operating income $409.0M
- ▍Net margin 14.9%
Revenue $1.69B; Operating income $373.1M.
- ▍Revenue $1.69B
- ▍Operating income $373.1M
- ▍Net margin 17.9%
Revenue $922.6M; Operating income $249.2M.
- ▍Revenue $922.6M
- ▍Operating income $249.2M
- ▍Net margin 21.6%
Revenue $2.91B; Operating income $350.2M.
- ▍Revenue $2.91B
- ▍Operating income $350.2M
- ▍Net margin 10.9%
Revenue $4.26B; Operating income $1.54B.
- ▍Revenue $4.26B
- ▍Operating income $1.54B
- ▍Net margin 28.6%
Revenue $4.26B; Operating income $1.54B.
- ▍Revenue $4.26B
- ▍Operating income $1.54B
- ▍Net margin 28.6%
Revenue $2.33B; Operating income $312.5M.
- ▍Revenue $2.33B
- ▍Operating income $312.5M
- ▍Net margin 11.9%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 2,87 |
| Revenue | —no estimate | —no estimate | 2,6B USD |
| Operating income | —no estimate | —no estimate | 112,6M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Price To Tangible Bookmarket_price / (tangible_book_value / shares_outstanding_diluted)
- Price To Bookmarket_price / (adjusted_book_value / shares_outstanding_diluted)
- Return On Equitynet_income / total_equity
- Enterprise Valuemarket_cap - net_cash
- Ev To Revenueenterprise_value / revenue
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- CAL-MAINE FOODS INC company facts · 2026-07-23
- CAL-MAINE FOODS INC 10-K 2026-07-22 · 2026-07-23
- CAL-MAINE FOODS INC 10-Q 2026-04-01 · 2026-07-23
- CAL-MAINE FOODS INC 10-Q 2026-01-07 · 2026-07-23
- CAL-MAINE FOODS INC 10-Q 2025-10-01 · 2026-07-23
- 8-K (sec_8k_material) on CALM · 2026-07-23
- Cal-Maine Foods Inc Market data — analyst estimates · 2026-07-23
- Cal-Maine Foods Inc Market data — ESG · 2026-07-23
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,09 %$123M
- Investment Managers · as of 2026-03-310,08 %$159M
- Investment Managers · as of 2026-03-310,04 %$199M
- Institutional Investor · as of 2026-03-310,01 %$28M
- Investment Managers · as of 2026-03-310,01 %$21M
- Investment Managers · as of 2026-03-310,01 %$24M
- Investment Managers · as of 2026-03-310,01 %$0M
- Investment Managers · as of 2026-03-310,01 %$65M
- Institutional Investor · as of 2026-03-310,01 %$55M
- Investment Managers · as of 2026-03-310,01 %$76M
- Investment Managers · as of 2024-06-300,01 %$413M
- Investment Managers · as of 2026-03-310,01 %$56M
- Investment Managers · as of 2024-12-310,01 %$27M
- Brokerage Firms · as of 2026-03-310,01 %$25M
- Investment Managers · as of 2026-03-310,01 %$18M
- Investment Managers · as of 2025-12-310,01 %$393M
- Investment Managers · as of 2026-03-310,01 %$90M
- Investment Managers · as of 2026-03-310,01 %$88M
- Investment Managers · as of 2026-03-310,00 %$135M
- Funds · as of 2026-03-310,00 %$26M
- Investment Managers · as of 2026-03-310,00 %$24M
- Brokerage Firms · as of 2026-03-310,00 %$12M
- Investment Managers · as of 2026-03-310,00 %$5M
- Institutional Investor · as of 2026-03-310,00 %$9M
- Investment Managers · as of 2026-03-310,00 %$5M
- Investment Managers · as of 2026-03-310,00 %$6M
- Investment Managers · as of 2026-03-310,00 %$5M
- Institutional Investor · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$1M
Leadership
- Sherman L. MillerPresident, Chief Executive Officer, Director
Insider activity
- Director · Common StockOther 1 301 · 2026-06-23
- Director · Common StockOther 1 301 · 2026-06-23
- Director · Common StockOther 1 284 · 2026-04-17
- COO · Common StockOther 455 @ $72,44$33K · 2026-01-13
- Director, Board Chair · Common StockOther 761 @ $72,44$55K · 2026-01-13
- VP - General Counsel · Common StockOther 781 @ $72,44$57K · 2026-01-13
- Director, Vice President, CFO, Sec/Treas · Common StockOther 903 @ $72,44$65K · 2026-01-13
- Vice President - Accounting · Common StockOther 455 @ $72,44$33K · 2026-01-13
- Vice President - Sales · Common StockOther 463 @ $72,44$34K · 2026-01-13
- Director, PRESIDENT & CEO · Common StockOther 1 097 @ $72,44$79K · 2026-01-13
- Director · Common StockOther 1 310 · 2026-01-12
- VP - General Counsel · Common StockOther 2 176 · 2026-01-12
- Vice President - Accounting · Common StockOther 784 · 2026-01-12
- Director · Common StockOther 1 310 · 2026-01-12
- Director · Common StockOther 1 310 · 2026-01-12
- Director · Common StockOther 1 310 · 2026-01-12
- Director · Common StockOther 1 310 · 2026-01-12
- Vice President - Sales · Common StockOther 784 · 2026-01-12
- Director, Board Chair · Common StockOther 1 310 · 2026-01-12
- Chief Strategy Officer · Common StockOther 1 310 · 2026-01-12
- Director, Vice President, CFO, Sec/Treas · Common StockOther 2 432 · 2026-01-12
- Director, PRESIDENT & CEO · Common StockOther 4 097 · 2026-01-12
- COO · Common StockOther 2 688 · 2026-01-12
- Chief Strategy Officer · Common StockBought 267 @ $92,37$25K · 2025-10-02
- Chief Strategy Officer · Common StockBought 110 @ $92,39$10K · 2025-10-02
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Operating cash flow (annual): USD 479.75MUnknown
- Gross profit (annual): USD 672.05MUnknown
- Revenue (annual): USD 2.91BUnknown
- Operating income (annual): USD 350.19MUnknown
- Capex (annual): USD 151.22MUnknown
- Pre-tax income (annual): USD 411MUnknown
- Cost of revenue (annual): USD 2.24BUnknown
- EPS (basic) (annual): USD-PER-SHARES 7Unknown
- Net income (annual): USD 316.68MUnknown
- EPS (diluted) (annual): USD-PER-SHARES 7Unknown
- Total liabilities (annual): USD 446.3MUnknown
- Total assets (annual): USD 3.14BUnknown
- Current liabilities (annual): USD 218.83MUnknown
- Cash & equivalents (annual): USD 369.45MUnknown
- Current assets (annual): USD 1.75BUnknown
- Shareholders' equity (annual): USD 2.69BUnknown
- Operating cash flow (annual): USD 1.22BUnknown
- Operating income (annual): USD 1.54BUnknown
- Capex (annual): USD 161.25MUnknown
- Cost of revenue (annual): USD 2.41BUnknown
- Gross profit (annual): USD 1.85BUnknown
- EPS (diluted) (annual): USD-PER-SHARES 25Unknown
- EPS (basic) (annual): USD-PER-SHARES 25Unknown
- Pre-tax income (annual): USD 1.6BUnknown