Lamb Weston (LW) financial statements
Lamb Weston reported revenue of $6.6B in fiscal 2026, up 8.5% a year over 9 years.
Net income was $290M and the operating margin 8.9%, against 16.4% in 2017.
Free cash flow was $540M, and the company returned $208M in dividends.
The diluted share count fell 5% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Lamb Weston's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.2B | $3.4B | $3.8B | $3.8B | $3.7B | $4.1B | $5.4B | $6.5B | $6.5B | $6.6B |
| Cost of revenue | $2.4B | $2.5B | $2.8B | $2.9B | $2.8B | $3.3B | $3.9B | $4.7B | $5.1B | $5.3B |
| Gross profit | $779M | $880M | $1.0B | $895M | $832M | $832M | $1.4B | $1.8B | $1.4B | $1.4B |
| Research and development | $11M | $14M | $15M | $15M | $13M | $16M | $17M | $26M | $22M | $19M |
| Selling, general and admin | $260M | $299M | $335M | $338M | $357M | $388M | $550M | $701M | $634M | $665M |
| Operating income | $518M | $580M | $668M | $557M | $475M | $444M | $882M | $1.1B | $665M | $591M |
| Pre-tax income | $510M | $555M | $621M | $478M | $408M | $273M | $1.2B | $956M | $500M | $418M |
| Income tax | $170M | $121M | $134M | $112M | $90M | $72M | $225M | $230M | $143M | $128M |
| Net income | $327M | $417M | $479M | $366M | $318M | $201M | $1.0B | $726M | $357M | $290M |
| EPS (diluted) | $2.22 | $2.82 | $3.18 | $2.49 | $2.16 | $1.38 | $6.95 | $4.98 | $2.50 | $2.08 |
| Diluted shares | 147M | 147M | 147M | 147M | 147M | 146M | 145M | 146M | 143M | 139M |
| Gross margin | 24.6% | 25.7% | 26.7% | 23.6% | 22.7% | 20.3% | 26.8% | 27.3% | 21.7% | 20.6% |
| Operating margin | 16.4% | 16.9% | 17.8% | 14.7% | 12.9% | 10.8% | 16.5% | 16.5% | 10.3% | 8.9% |
| Net margin | 10.3% | 12.2% | 12.7% | 9.6% | 8.7% | 4.9% | 18.9% | 11.2% | 5.5% | 4.4% |
Balance sheet
Fiscal years, from Lamb Weston's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $57M | $56M | $12M | $1.4B | $784M | $525M | $305M | $71M | $71M | $68M |
| Receivables | $185M | $226M | $340M | $342M | $367M | $447M | $724M | $744M | $782M | $779M |
| Inventory | $525M | $550M | $498M | $487M | $514M | $574M | $932M | $1.1B | $1.0B | $968M |
| Total current assets | $858M | $930M | $962M | $2.3B | $1.8B | $1.7B | $2.1B | $2.1B | $2.0B | $2.0B |
| Property, plant and equipment | $1.3B | $1.4B | $1.6B | $1.5B | $1.5B | $1.6B | $2.8B | $3.6B | $3.7B | $3.7B |
| Goodwill | $133M | $135M | $206M | $304M | $334M | $318M | $1.0B | $1.1B | $1.1B | $1.1B |
| Total assets | $2.5B | $2.8B | $3.0B | $4.7B | $4.2B | $4.1B | $6.5B | $7.4B | $7.4B | $7.4B |
| Total current liabilities | $555M | $519M | $553M | $1.0B | $618M | $699M | $1.4B | $1.6B | $1.5B | $1.4B |
| Long-term debt | $2.4B | $2.3B | $2.3B | $3.0B | $2.7B | $2.7B | $3.2B | $3.4B | $3.7B | $3.6B |
| Total liabilities | $3.1B | $3.1B | $3.1B | $4.4B | $3.7B | $3.8B | $5.1B | $5.6B | $5.7B | $5.6B |
| Shareholders' equity | -$647M | -$335M | -$5M | $240M | $481M | $360M | $1.4B | $1.8B | $1.7B | $1.8B |
| Net debt | $2.3B | $2.3B | $2.3B | $1.6B | $1.9B | $2.2B | $2.9B | $3.4B | $3.6B | $3.5B |
Cash flow
Fiscal years, from Lamb Weston's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $447M | $481M | $681M | $574M | $553M | $419M | $762M | $798M | $868M | $943M |
| Capital spending | $287M | $307M | $334M | $168M | $147M | $290M | $654M | $930M | $638M | $403M |
| Free cash flow | $160M | $174M | $347M | $406M | $406M | $128M | $108M | -$131M | $230M | $540M |
| Stock-based compensation | $6M | $14M | $19M | $23M | $21M | $21M | $38M | $47M | $40M | $46M |
| Dividends paid | $27M | $110M | $113M | $121M | $135M | $138M | $146M | $174M | $207M | $208M |
| Net borrowing | $772M | -$14M | -$1M | $1.6B | -$499M | $1.7B | $571M | $592M | $525M | $104M |
| Free cash flow margin | 5.0% | 5.1% | 9.2% | 10.7% | 11.0% | 3.1% | 2.0% | -2.0% | 3.6% | 8.2% |
| Dividends per share | $0.19 | $0.75 | $0.77 | $0.82 | $0.92 | $0.95 | $1.01 | $1.20 | $1.45 | $1.49 |
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Open LW in InvestinglyQuestions
What was Lamb Weston's revenue in 2026?
$6.6B in fiscal 2026, from its 10-K filing.
How much free cash flow does Lamb Weston generate?
$540M in fiscal 2026 (operating cash flow minus capital spending).
From Lamb Weston's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.