Short answer
CAL-MAINE FOODS INC (CALM) filed its fiscal 2025 10-K annual report with the SEC on Jul 22, 2025. It reported revenue of $4.3B (+83.2% year over year) and net income of $1.2B.
- Top risk flagged: Legal risk: $19.6M anti-trust litigation loss contingency accrued Q2 FY2024 from jury decision, reversed in FY2025
FY2025 key financial metrics · XBRL
- Revenue
- $4.3B
- +83.2% YoY
- Net income
- $1.2B
- +339.0% YoY
- Operating margin
- 36.1%
- +22.6 pp YoY
- Gross margin
- 43.4%
- +20.1 pp YoY
- EPS (diluted)
- $24.95
- +338.5% YoY
- ROE
- 47.6%
- +32.2 pp YoY
- Operating cash flow
- $1.2B
- +171.3% YoY
Source: XBRL data from the CAL-MAINE FOODS INC (CALM) FY2025 10-K on SEC EDGAR. USD.
CAL-MAINE FOODS INC FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Production, grading, packaging, marketing, and distribution of fresh shell eggs, egg products, and prepared foods
- New ventures: Majority stake in Crepini Foods LLC for egg wraps and protein foods, MeadowCreek acquired fully for hard-cooked eggs
- Geographic expansion: First-time operations in Maryland, New Jersey, Delaware via ISE America acquisition; expanded northeast and mid-Atlantic market reach
- Quantitative growth: Sold ~1.3 billion dozen shell eggs, representing ~24% U.S. market share; flock size 48.3M layers and 11.5M pullets/breeders
- Feed supply integration: Acquired Deal-Rite feed mills and retail business in North Carolina to support nearby egg production operations
Management Discussion & Analysis
- Revenue details not directly provided; net sales increased, driving operating cash flow up to $1.2B from $451.4M YoY
- Best segment implied: conventional eggs with higher average selling prices and increased sales volume
- Cash dividend payments $330.3M in fiscal 2025 vs $91.9M prior year; share repurchases $54M; capex $161.3M vs $147.1M prior year
- Management pursuing acquisitions (ISE, Echo Lake Foods $258M post-year-end), organic growth with cage-free facility expansions
Risk Factors
- Legal risk: $19.6M anti-trust litigation loss contingency accrued Q2 FY2024 from jury decision, reversed in FY2025
- Macroeconomic threat: 285.5M layer hens June 1, 2025 vs 5-year average 313.1M, supply constrained by HPAI resurgence Nov 2023
- Operational risk: Temporary production shutdowns at Chase, KS and Farwell, TX facilities in FY2024 due to HPAI outbreaks
- Competitive risk: Increased acquisition of ISE commercial shell egg production and processing business boosting capacity in FY2025
- Financial risk: Outside egg purchase costs up 69.9% per dozen, driven by higher shell egg prices and 27.6% increase in dozens purchased
Generated from the filing text; verify against the original. How to read a 10-K
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