Pilgrim's Pride CorporationPPC
NasdaqGS•Consumer Defensive•Packaged Foods
Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators in the United States, Europe, and Mexico. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, pork ribs, and lamb products; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats, and meat balls and coated foods. It also provides plant-based protein, ready-to-eat meals, multi-protein frozen food, vegetarian food, and desserts. In addition, its exported products include whole chickens and chicken parts for distributors in the U.S. or frozen for distribution to export markets and primary pork cuts, hog heads, and trotters frozen for distribution. The company offers its products under the Pilgrim's, Just BARE, Gold'n Pump, Gold Kist, County Pride, Pierce Chicken, Pilgrim's Mexico, To-Ricos, Del Dia, Moy Park, Matteson's, Richmond, Fridge Raiders, and Denny brands. It serves chain restaurants, food processors, broad-line distributors, and other institutions; and retail market, such as grocery store chains, wholesale clubs, and other retail distributors. The company was founded in 1946 and is headquartered in Greeley, Colorado. Pilgrim's Pride Corporation operates as a subsidiary of JBS N.V.
Pilgrim's Pride Corporation (PPC) reported trailing twelve months revenue of $18.57B as of March 2026, a 3.3% increase year-over-year. Quarterly revenue reached $4.53B, reflecting continued top-line momentum.
Pilgrim's Pride Corporation generated $887.75M in TTM net income, with quarterly EBITDA of $281.04M. The operating margin contracted from 9.1% to 3.6%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (3.6%) and net margin (2.2%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 6.6% a year ago, reflecting increased costs or interest expense.
PPC trades at a P/E of 9.8x (below the broader market average) and a P/S of 0.5x. The price-to-book ratio of 2.3x reflects a moderate premium to book value.
The company reported negative free cash flow of $-95.38M, indicating cash consumption over the period. The balance sheet shows $10.20B in total assets with $3.10B in long-term debt against $3.72B 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 positive at ~8.3% on average, but show some variability — pricing power may be sensitive to market conditions.
Consistently high ROE averaging 28.6% suggests a durable competitive advantage and efficient capital allocation.
7 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue shows resilience with 6 of 7 quarters posting growth — demand is generally stable but has seen some soft patches.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 20.7% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.8 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.