Campbell's Company (The) (CPB) FY2025 10-K Annual Report
Campbell's Company (The) (CPB) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Sep 18, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Campbell's Company (The) FY2025 10-K Analysis
Business Overview
- • Core business model: Food products company focused on packaged soups, beverages, and related convenient food items
- • Acquisition and integration of Sovos Brands on March 12, 2024, adding equity awards and associated long-term incentive plans
- • Strategic emphasis on long-term incentive plans including 3,236,544 TSR and EPS performance-based restricted stock units
- • Equity compensation plans show 6,142,160 securities outstanding with weighted average exercise price $45.33, and 8,577,194 shares available for future issuance
- • Adoption and public posting of Codes of Ethics and Business Conduct reinforcing corporate governance and compliance transparency
Management Discussion & Analysis
- • Revenue $10.253B in 2025, up 6% YoY driven by 8-point Sovos Brands acquisition and 2-point 53rd week, offset by divestitures and volume/mix declines
- • Gross profit margin 30.4% in 2025 vs 30.8% in 2024, down 40 bps due to cost inflation, supply chain costs, and unfavorable pricing
- • Meals & Beverages segment best performer: sales $6.05B up 15%, operating earnings $1.076B up 10%; Snacks worst performer: sales $4.203B down 4%, operating earnings $560M down 14%
- • Operating earnings $1.124B in 2025, up 12% ($1.0B in 2024); EPS $2.01 in 2025 vs $1.89 in 2024 adjusting for significant charges
- • Capital allocation: Acquisition spend $2.899B Sovos Brands; Divestitures include Pop Secret and noosa yoghurt; cost savings initiatives targeting $375M annual savings by 2028; 2026 expects significant cost pressures from tariffs managed via pricing and productivity measures
- • Management outlook: 2026 faces tariff-driven cost pressures; ongoing efforts on supply chain productivity, pricing, sourcing, and cost savings to mitigate impacts
Risk Factors
- • U.S. tariffs and reciprocal tariffs risk impacting cost and supply chain stability
- • Exposure to geopolitical instability and civil disobedience disrupting operations and supply chain
- • Reliance on key contract manufacturers and suppliers creates operational vulnerability
- • Competitive threat from value and e-commerce retailers expanding market presence
- • Indebtedness poses financial risk to ability to service and repay obligations
Campbell's Company (The) FY2025 Key Financial MetricsXBRL
Revenue
$10.3B
▲ +6.4% YoY
Net Income
$602M
▲ +6.2% YoY
Operating Margin
11.0%
▲ +58bp YoY
Net Margin
5.9%
▼ -1bp YoY
ROE
15.4%
▲ +48bp YoY
Total Assets
$14.9B
▼ -2.2% YoY
EPS (Diluted)
$2.01
▲ +6.3% YoY
Operating Cash Flow
$1.1B
▼ -4.6% YoY
Source: XBRL data from Campbell's Company (The) FY2025 10-K filing on SEC EDGAR. All figures in USD.
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