Conagra Brands, Inc.CAG
NYSE•Consumer Defensive•Packaged Foods
Conagra Brands, Inc., together with its subsidiaries, operates as a consumer packaged goods food company primarily in the United States. The company operates in four segments: Grocery & Snacks, Refrigerated & Frozen, International, and Foodservice. The Grocery & Snacks segment primarily offers shelf stable food products through various retail channels. The Refrigerated & Frozen segment provides temperature-controlled food products through various retail channels. The International segment offers food products in various temperature states through retail and foodservice channels outside of the United States. The Foodservice segment offers branded and customized food products, including meals, entrees, sauces, and various custom-manufactured culinary products packaged for restaurants and other foodservice establishments. The company sells its products under the Birds Eye, Marie Callender's, Duncan Hines, Healthy Choice, Slim Jim, Reddi-wip, Angie's, BOOMCHICKAPOP brands. Conagra Brands, Inc. was incorporated in 1919 and is headquartered in Chicago, Illinois.
ConAgra Brands, Inc. (CAG) reported trailing twelve months revenue of $11.18B as of February 2026, a 4.7% decline year-over-year. Quarterly revenue reached $2.79B, reflecting a contraction in sales.
ConAgra Brands, Inc. reported a TTM net loss of $43.30M, with quarterly EBITDA of $424.60M. The operating margin expanded from 9.4% to 10.0%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (10.0%) and net margin (7.2%) indicates tight cost control with minimal non-operating drag. Net margin has improved from 5.1% a year ago, signaling stronger bottom-line efficiency.
CAG trades at a P/S of 0.8x. The price-to-book ratio of 1.1x reflects a moderate premium to book value.
The company generated $468.80M in free cash flow over the trailing twelve months, a 6.8% decrease year-over-year, indicating strong cash generation ability. The balance sheet shows $19.21B in total assets with $6.46B in long-term debt against $8.16B in stockholders equity for a debt-to-equity ratio of 0.8. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 8.3%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF/Net Income has dropped below 0.7x in 4 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
Revenue declined in 7 of the last 7 quarters — persistent contraction signals a fundamental problem.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation