Tyson Foods (TSN) financial statements
Tyson Foods reported revenue of $54.4B in fiscal 2025, up 4.4% a year over 9 years.
Net income was $474M and the operating margin 2.0%, against 7.7% in 2016.
Free cash flow was $1.2B, and the company returned $697M in dividends.
The diluted share count fell 8% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Tyson Foods's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $36.9B | $38.3B | $40.1B | $42.4B | $43.2B | $47.0B | $53.3B | $52.9B | $53.3B | $54.4B |
| Cost of revenue | $32.2B | $33.2B | $35.0B | $37.4B | $37.8B | $40.5B | $46.6B | $50.2B | $49.7B | $50.9B |
| Gross profit | $4.7B | $5.1B | $5.1B | $5.0B | $5.4B | $6.5B | $6.7B | $2.6B | $3.6B | $3.6B |
| Research and development | $96M | $113M | $114M | $97M | $98M | $114M | $108M | $114M | $106M | $126M |
| Selling, general and admin | $1.9B | $2.1B | $2.1B | $2.3B | $2.4B | $2.1B | $2.3B | $2.2B | $2.2B | $2.1B |
| Operating income | $2.8B | $2.9B | $3.0B | $2.8B | $3.0B | $4.4B | $4.4B | -$395M | $1.4B | $1.1B |
| Interest expense | $249M | $279M | $350M | $462M | $485M | $428M | $365M | $355M | $481M | $449M |
| Pre-tax income | $2.6B | $2.6B | $2.7B | $2.4B | $2.7B | $4.0B | $4.1B | -$678M | $1.1B | $769M |
| Income tax | $826M | $850M | -$291M | $381M | $593M | $981M | $900M | -$29M | $270M | $262M |
| Net income | $1.8B | $1.8B | $3.0B | $2.0B | $2.1B | $3.0B | $3.2B | -$648M | $800M | $474M |
| EPS (diluted) | $4.53 | $4.79 | $8.04 | $5.40 | $5.64 | $8.34 | $8.92 | -$1.87 | $2.25 | $1.33 |
| Diluted shares | 390M | 370M | 369M | 366M | 365M | 365M | 363M | 284M | 356M | 357M |
| Gross margin | 12.7% | 13.2% | 12.7% | 11.8% | 12.5% | 13.9% | 12.5% | 5.0% | 6.8% | 6.5% |
| Operating margin | 7.7% | 7.6% | 7.4% | 6.5% | 7.0% | 9.3% | 8.3% | -0.7% | 2.6% | 2.0% |
| Net margin | 4.8% | 4.6% | 7.4% | 4.7% | 4.8% | 6.5% | 6.1% | -1.2% | 1.5% | 0.9% |
Balance sheet
Fiscal years, from Tyson Foods's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $349M | $318M | $270M | $484M | $1.4B | $2.5B | $1.0B | $573M | $1.7B | $1.2B |
| Receivables | $1.5B | $1.7B | $1.7B | $2.2B | $2.0B | $2.4B | $2.6B | $2.5B | $2.4B | $2.5B |
| Inventory | $2.7B | $3.2B | $3.5B | $3.9B | $3.9B | $4.4B | $5.5B | $5.3B | $5.2B | $5.7B |
| Total current assets | $4.9B | $6.3B | $5.7B | $7.0B | $7.6B | $9.8B | $9.6B | $8.7B | $9.8B | $9.9B |
| Property, plant and equipment | $5.2B | $5.6B | $6.2B | $7.3B | $7.6B | $7.8B | $8.7B | $9.6B | $9.4B | $9.2B |
| Goodwill | $6.7B | $9.3B | $9.7B | $10.8B | $10.9B | $10.5B | $10.5B | $9.9B | $9.8B | $9.5B |
| Total assets | $22.4B | $28.1B | $29.0B | $32.9B | $34.5B | $36.3B | $36.8B | $36.3B | $37.1B | $36.7B |
| Total current liabilities | $2.8B | $4.0B | $5.0B | $5.5B | $4.2B | $6.3B | $5.3B | $6.5B | $4.8B | $6.4B |
| Long-term debt | $6.2B | $9.3B | $8.0B | $9.8B | $10.8B | $8.3B | $7.9B | $7.6B | $9.7B | $7.9B |
| Total liabilities | $12.7B | $17.5B | $16.4B | $18.8B | $19.1B | $18.5B | $17.0B | $18.0B | $18.6B | $18.4B |
| Shareholders' equity | $9.6B | $10.5B | $12.8B | $13.9B | $15.3B | $17.7B | $19.7B | $18.1B | $18.4B | $18.1B |
| Net debt | $5.9B | $9.9B | $9.6B | $11.4B | $9.9B | $6.8B | $7.3B | $8.9B | $8.1B | $7.6B |
Cash flow
Fiscal years, from Tyson Foods's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.7B | $2.6B | $3.0B | $2.5B | $3.9B | $3.8B | $2.7B | $1.8B | $2.6B | $2.2B |
| Capital spending | $695M | $1.1B | $1.2B | $1.3B | $1.2B | $1.2B | $1.9B | $1.9B | $1.1B | $978M |
| Free cash flow | $2.0B | $1.5B | $1.8B | $1.3B | $2.7B | $2.6B | $800M | -$187M | $1.5B | $1.2B |
| Stock-based compensation | $81M | $92M | $69M | $77M | $89M | $91M | $93M | $61M | $101M | $100M |
| Dividends paid | $216M | $319M | $431M | $537M | $601M | $636M | $653M | $670M | $684M | $697M |
| Share buybacks (net) | -$1.9B | -$860M | -$427M | -$252M | -$207M | — | — | — | — | — |
| Net borrowing | — | $5.4B | $1.1B | $4.6B | $1.6B | $585M | $103M | $1.1B | $2.4B | $175M |
| Free cash flow margin | 5.5% | 4.0% | 4.4% | 3.0% | 6.2% | 5.6% | 1.5% | -0.4% | 2.7% | 2.2% |
| Dividends per share | $0.55 | $0.86 | $1.17 | $1.47 | $1.65 | $1.74 | $1.80 | $2.36 | $1.92 | $1.95 |
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What was Tyson Foods's revenue in 2025?
$54.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Tyson Foods generate?
$1.2B in fiscal 2025 (operating cash flow minus capital spending).
From Tyson Foods's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.