CPB CAMPBELL'S Co

Overview and Growth

CAMPBELL'S Co generated $9.74B of revenue in fiscal 2026, with net income of $403.00M and an operating cash inflow of $1.04B. The $9.74B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. Revenue was 5.0% below fiscal 2025 revenue of $10.25B, marking a top-line contraction. The company reported diluted EPS of $1.31, adding a shareholder-level measure to the absolute income figures considered below. Diluted EPS decreased by 34.8% from $2.01 in fiscal 2025, showing how the earnings change reached shareholders on a per-share basis. Revenue equaled 0.62x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

The first profit layer was $2.74B of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross profit represented 28.1% of revenue, showing how much of the top line remained after direct costs. Operations produced $852.00M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 8.7%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $403.00M, after the operating, financing, tax, and other items recognized for the period. Net margin was 4.1%, meaning that this portion of revenue remained as net income after all recognized expenses. Before income taxes, the company reported $529.00M of earnings, providing a bridge between the operating result and final net income. The pretax margin was 5.4%, relating income before taxes directly to revenue. Income tax expense totaled $124.00M, providing the reported tax component that separates pretax and after-tax earnings. Relative to pretax income, the tax provision measured 23.4%, quantifying the portion of pre-tax earnings paid in income tax. Net income equaled 10.5% of period-end equity, showing the earnings generated on shareholders’ book capital. Return on period-end assets was 2.6%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

The company held $15.65B of assets against $11.49B of liabilities and $3.85B of equity, revealing how the asset base was financed. Current assets were $2.72B against $3.34B of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. The current ratio was 0.82x; current liabilities exceeded current assets, leaving a short-term liquidity deficit. Reported cash and equivalents were $394.00M, separating immediately recognizable cash resources from the rest of the current-asset base. The cash balance equaled 11.8% of current liabilities, showing how much near-term coverage came from cash alone. The liabilities-to-assets relationship was 73.4%, placing reported obligations against the full positive asset balance. The cash-to-assets relationship was 2.5%, comparing reported cash and equivalents with the full positive asset balance. The asset base changed 5.0% from $14.90B in fiscal 2025, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $1.04B, a reported cash inflow that can be compared directly with net income and capital spending. Against net income, operating cash flow measured 2.58x, showing the relationship between accrual earnings and operating cash. Capital spending was $361.00M, absorbing part of the cash generated from operations before free cash flow. Relative to operating cash flow, capital expenditures measured 34.7%, connecting investment intensity with the company’s cash-generation base. Free cash flow came to $678.00M, leaving a positive amount after capital expenditures. Relative to revenue, free cash flow equaled 7.0%, showing how much sales converted into cash after investment. The free-cash-flow-to-assets relationship was 4.3%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Aug 2, 2026. Analysis generated Oct 21, 2026.