Conagra Brands, Inc. (CAG)

NYSE: CAG · USD

$13.9

-0.33 (-2.4%)· Recorded snapshot

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StockMarketAgent Research · Analyzed 2026-10-22

Our latest published analysis: CAG rated Strong Buy

Conagra Brands, Inc.'s published Strong Buy conclusion compares the analysis-date price with fair value and potential value. Read the full report for assumptions, evidence, and material risks.

Fair value

$26.7 / share

Potential value

$41.5 / share

Upside to FV

+81.2%

from $13.9

Moat

5.5/10

Narrow

Read full analysis →View archive · 24mo

9-phase methodology · same model in each published edition

Market cap	$7.0B
Revenue (ttm)	11.2B
Net income (ttm)	-1.9B
EPS (ttm)	-$3.98
Shares out	477.4M
P/E (forward)	10.6x
Dividend	$0.70 (5.04%)
Volume	5,448,404
Beta	0.00

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 11.2B
Net income (ttm): -1.9B
EPS (ttm): -$3.98
P/E (forward): 10.6x
Market cap: $7.0B

Item	P1	P2	P3	P4	P5	Trend
Period	2022-05-29	2023-05-28	2024-05-26	2025-05-25	2026-05-31	Trend
Revenue	$11.54B	$12.28B	$12.05B	$11.61B	$11.28B	-0.6%
Gross profit	$2.84B	$3.26B	$3.33B	$3.00B	$2.70B	-1.3%
Operating income	$1.59B	$1.08B	$852.8M	$1.36B	$-1.63B	—
Net income	$888.2M	$683.6M	$347.2M	$1.15B	$-1.92B	—
EPS (diluted)	$1.84	$1.42	$0.72	$2.40	$-4.00	—
EBITDA	$1.94B	$1.69B	$1.45B	$1.97B	$-1.05B	—
R&D	$53.4M	$57.7M	$61.4M	$60.8M	$62.7M	+4.1%
SG&A	$1.49B	$1.43B	$1.49B	$1.54B	$1.44B	-0.9%

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
AAPL	Apple Inc.	5T	39.4x	10.8x	101.6%	+6.1%	+28.5%	매도
ABNB	Airbnb, Inc.	97.8B	37.5x	7.4x	16.8%	+24.4%	+28.5%	매도
ADBE	Adobe Inc.	97.1B	13.9x	3.7x	57.2%	+11.5%	-30.7%	적극 매수
ADM	Archer-Daniels-Midland Company	37.3B	21.2x	0.5x	5.0%	+1.8%	+28.5%	비중 축소
BF.B	Brown-Forman Corporation Class B	12.7B	17.9x	3.3x	14.3%	+1.6%	+0.4%	매수
CCEP	Coca-Cola Europacific Partners PLC	49.3B	22.5x	2.0x	11.7%	+12.8%	+24.3%	매수

Base and Bull scenarios

Bull20%

Price target

$41.52

+182.3% from spot

In the Bull scenario, category demand across Refrigerated & Frozen and Grocery & Snacks rebounds as consumer purchasing power recovers. Conagra gains market share in frozen vegetables, breakfast, and meat snacks. Pricing power remains intact while packaging and ingredient deflation expands gross margins. Elevated free cash flow enables management to rapidly retire senior debt, reducing interest expense and triggering a comprehensive equity multiple re-rating.

Organic net sales growth inflects positively driven by frozen single-serve and premium snacks innovation
Adjusted operating margin expands through supply chain automation and procurement efficiencies
Free cash flow generation accelerates substantially, driving rapid net leverage reduction
Valuation multiple re-rates upward toward peer parity, driving valuation toward $41.52

Base55%

Price target

$26.66

+81.2% from spot

In the Base scenario, Conagra executes on its operational turnaround by balancing selective trade promotion with continuous productivity savings. Frozen food volumes stabilize near flat, while meat snacks and popcorn offset center-store grocery softness. Operating cash flow remains strong, fully funding regular dividend distributions and disciplined debt paydown to reduce net leverage steadily.

Organic net sales stabilize near flat as retail volume recovers in FY2028
Adjusted operating margin normalizes toward historical levels, consistent with FY2028 forecasts
Annual free cash flow remains resilient with solid cash conversion
Exit valuation multiple holds steady, supporting Fair value of $26.66

Sensitivity: Ke × terminal growth

The highlighted cell is Fair value when every assumption sits at its base level ($26.66). Each row and column shows what Fair value becomes when one assumption moves.

Ke ↓ / g →	1.0%	1.5%	2.0%	2.5%	3.0%
5.1%	$27.8	$30.6	$34.4	$40.1	$49.2
5.6%	$25.1	$27.2	$30.0	$33.7	$39.3
6.1%	$23.0	$24.6	$26.7	$29.4	$33.1
6.6%	$21.2	$22.5	$24.1	$26.1	$28.8
7.1%	$19.8	$20.8	$22.1	$23.6	$25.6

Scorecard

Published factor rows and weighted composite

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E10.6

P25 n/aP50 n/aP75 n/a

Trailing P/E0

P25 n/aP50 n/aP75 n/a

ROE-24.9

P25 n/aP50 n/aP75 n/a

ROIC9.2

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All CAG indicators

Market & fundamental data

Available fields

265

Groups with data

Currency

USD

Showing 265 of 265 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0000023217
Company name	Conagra Brands, Inc.
Country	United States
Country code	US
CUSIP number	205887102
Earnings date	2026-12-18
Earnings time	bmo
Employees	17,400
Employees change	-900
Employees growth	-4.92%
Enterprise value	$14B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-08-30
First seen	2026-05-09
Fiscal year end	May
Founded	1919
Industry	Packaged Foods
Is primary listing	Yes
Is SPAC	No
ISIN number	US2058871029
Last 10-K release date	2026-07-15
Last earnings date	2026-09-30
Last refreshed	2026-10-28
Last stock split date	1997-10-02
Last stock split type	Forward
Market cap	$6.6B
Market cap category	Mid-Cap
Next earnings date	2026-12-18
Options	Yes
Price	$13.91
Price currency	USD
Sector	Consumer Staples
SIC code	2000
Stock price date	2026-10-28
Symbol	CAG
U.S. state	Illinois
Website	https://www.conagrabrands.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	8.08x
Average P/E ratio (10Y)	20.45x
Average P/E ratio (3Y)	22.97x
Average P/E ratio (5Y)	21.64x
Earnings yield	-28.61%
EV/EBIT	11.12x
EV/EBITDA	8.45x
EV/FCF	15.97x
EV/Sales	1.25x
FCF / EV yield	6.26%
FCF yield	13.25%
Forward EV/Sales	1.3x
Forward P/E	9.65x
Forward P/S	0.61x
Industry forward P/E	12.41x
Industry P/E	68.48x
P/(FCF - SBC) ratio	8x
P/(OCF - SBC) ratio	5.39x
P/B ratio	1.06x
P/FCF ratio	7.54x
P/OCF ratio	5.18x
P/S ratio	0.59x
Price/EBITDA ratio	3.99x
Sector forward P/E	21.27x
Sector P/E	28.13x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	11.2%
EBITDA margin	14.74%
FCF margin	7.8%
Gross margin	23.84%
Operating margin	11.2%
Pretax margin	-16.72%
Profit margin	-16.95%
Profit per employee	$-109,563
Profitable quarters	1
Revenue per employee	$646,259
ROA	4.05%
ROA (5Y)	4.87%
ROCE	8.61%
ROE	-24.89%
ROE (5Y)	2.01%
ROIC	9.19%
ROIC (5Y)	7.72%
SBC / revenue	0.44%
Tax / revenue	0.23%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth (Q)	5.88%
EPS growth quarters	1
EPS growth years	0
FCF growth	-23.12%
FCF growth 3Y	3.33%
FCF growth 5Y	1.66%
Gross profit growth	-7.83%
Gross profit growth (Q)	-3.42%
Gross profit growth 3Y	-7.33%
Gross profit growth 5Y	-2.5%
Net income growth (Q)	5.96%
Net income growth quarters	1
Net income growth years	0
OCF growth	-17.27%
OCF growth 10Y	-1.54%
OCF growth 3Y	2.82%
OCF growth 5Y	-0.71%
Operating income growth	-20.16%
Operating income growth (Q)	-3.68%
Operating income growth 3Y	-14.07%
Operating income growth 5Y	-7.25%
Revenue growth	-1.8%
Revenue growth (Q)	-1.39%
Revenue growth (QoQ)	-9.93%
Revenue growth 10Y	2.83%
Revenue growth 3Y	-2.88%
Revenue growth 5Y	0.15%
Revenue growth years	0

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
Capital expenditures	$-400.3M
Depreciation and amortization	$398.1M
EBIT	$1.3B
EBITDA	$1.7B
EPS	$-3.98
FCF per share	$1.84
Financing cash flow	$-1.3B
Free cash flow	$877M
Free cash flow minus SBC	$827.6M
Gross profit	$2.7B
Income taxes	$25.8M
Investing cash flow	$-349.1M
Net borrowing	$-526.8M
Net cash flow	$-326.5M
Net income	$-1.9B
Operating cash flow minus SBC	$1.2B
Operating income	$1.3B
Revenue	$11.2B
Stock-based compensation	$49.4M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	1.65
Book value per share	$13.42
Debt / EBITDA	4.52
Debt / equity	1.21
Debt / FCF	8.85
Goodwill	$8.1B
Interest coverage	3.26
Long-term assets	$14.3B
Long-term liabilities	$8.2B
Net cash (debt)	$-7.4B
Net cash / market cap	-111.66%
Net debt / EBITDA	4.46
Net debt / equity	1.15
Net debt / FCF	8.42
Piotroski F-Score	6
Property, plant and equipment	$2.8B
Shareholders' equity	$6.4B
Tangible book value	$-3.5B
Tangible book value per share	$-7.40
Total assets	$17.7B
Total cash	$371.6M
Total debt	$7.8B
Total liabilities	$11.3B
WACC	4.08%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.58
Current assets	$3.4B
Current liabilities	$3.1B
Current ratio	1.1
Inventory turnover	3.88
Net working capital	$742.8M
Quick ratio	0.34
Working capital	$294.4M
Working capital turnover	44.54

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	0.08%
Dividend growth	-25%
Dividend growth (10Y)	0.49%
Dividend growth (3Y)	-8.26%
Dividend growth (5Y)	-2.22%
Dividend growth years	0
Dividend payment date	2026-12-03
Dividend payment years	51
Dividend payout frequency	Quarterly
Dividend per share	$0.70
Dividend yield	5.04%
Ex-dividend date	2026-11-05
FCF payout ratio	57.16%
Last dividend	$0.18
Shareholder yield	5.12%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
10Y price change	-70.7%
10Y return CAGR	-5.75%
10Y total return	-44.69%
150-day SMA	$14.44
15Y price change	-45.08%
15Y return CAGR	1.22%
15Y total return	19.95%
1D price change	-2.35%
1M price change	-2.9%
1M total return	-2.9%
1W price change	-0.96%
1W total return	-0.96%
1Y price change	-24.84%
1Y return CAGR	-18.9%
1Y total return	-18.89%
20-day SMA	$13.93
200-day SMA	$15.31
20Y price change	-46.42%
20Y return CAGR	1.7%
20Y total return	40.06%
3M price change	-8.76%
3M total return	-7.72%
3Y price change	-48.86%
3Y return CAGR	-15.02%
3Y total return	-38.64%
50-day SMA	$14.76
50-day SMA vs 200-day SMA	50under200
52-week high	$20.32
52-week high date	2026-02-12
52-week low	$12.53
52-week low date	2026-06-04
5Y price change	-57.37%
5Y return CAGR	-11.24%
5Y total return	-44.91%
6M price change	-1.52%
6M total return	2.11%
All-time high	$48.86
All-time high date	2016-11-08
All-time low	$0.07
All-time low date	1974-12-30
Average true range (ATR)	$0.48
Average volume	11.9M
Beta (1Y)	-0.28
Beta (2Y)	-0.06
Beta (5Y)	0
Change from 52-week high	-31.56%
Change from 52-week low	10.97%
Change from all-time high	-71.54%
Change from all-time low	19,623.4%
Change from open	-0.82%
Day's gap	-1.54%
Dollar volume	$75.8M
High price	$14.13
Low price	$13.81
Monthly RSI	33.43
Open price	$14.02
Position in 52-week range	29.69%
Premarket change	-1.05%
Premarket close	$14.24
Premarket price	$14.09
Previous close	$14.24
Price vs 150-day SMA	-3.7%
Price vs 20-day SMA	-0.16%
Price vs 200-day SMA	-9.2%
Price vs 50-day SMA	-5.82%
Relative volume	0.46
RSI	45.25
Sharpe ratio	-0.62
Sharpe ratio (3Y)	-0.61
Sharpe ratio (5Y)	-0.55
Sortino ratio	-0.7
Sortino ratio (3Y)	-0.63
Sortino ratio (5Y)	-0.52
Volume	5.4M
Weekly RSI	43.27
YTD price change	-19.67%
YTD total return	-15.06%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	473.9M
Float percentage	99.27%
Shares change (QoQ)	0.17%
Shares change (YoY)	-0.08%
Shares held by insiders	0.68%
Shares held by institutions	89.75%
Shares outstanding	477.4M
Short % of float	8.28%
Short % of shares	8.22%
Short ratio	3.1 days

Deeper analysis on CAG

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

→

Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

→

Sensitivity

Cost-of-equity and terminal-growth stress table.

→

Risks

Kill scenarios, soft-pass flags, and downside catalysts.

→

Earnings

Next earnings setup and beat / inline / miss thresholds.

→

Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

→

Financials

Revenue, margins, cash flow, and balance-sheet context.

→

Peers

Relative valuation and profitability against the cohort.

→

Moat

Economic-profit evidence and competitive advantage risk.

→

Industry cycle

Sector phase, capital cycle, and secular tailwinds.

→

Quote this valuation with its source: Fair value, Potential value and the price at analysis.

Frequently asked questions

About this CAG report

What is the latest published CAG stock rating?

Conagra Brands, Inc. is shown with Strong Buy in the latest published report, analyzed 2026-10-22. The hub links directly to the full analysis surface where the dated rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full CAG analysis?

The full latest published report, analyzed 2026-10-22, lives at /stocks/CAG/analysis. The bare ticker page summarizes that read and links to each analysis tab; earlier editions remain under /analysis/archive.

What fair value is used for CAG?

The latest published report analyzed 2026-10-22 gives CAG a fair value of USD 27 and a potential value of USD 42. These are dated research outputs, not live market prices; review the valuation assumptions, sensitivity analysis, and material risks before making a decision.

How often is the CAG page updated?

The hub selects the latest published stock report regardless of age and displays its analysis date (2026-10-22). Separately sourced market data is labeled with its own recorded timestamp and is never inferred from the report.

Strong BuyCAG · Fair value $26.7+81.2%

Read full analysis →

Conagra Brands, Inc. (CAG)

Our latest published analysis: CAG rated Strong Buy

Price

Financial snapshot

Fair-value bridge

Latest news · CAG

Valuation

Profitability

Balance sheet

Trading

Base and Bull scenarios

Sensitivity: Ke × terminal growth

Scorecard

Next earnings

Sector percentile context

All CAG indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on CAG

Frequently asked questions

등급 이력

Category	Score	Reading
Valuation	9.5
Management	6.5
Balance Sheet	5.0
Profitability	1.5
Revenue Growth	2.5
Risk Assessment	7.0
Competitive Moat	5.5
Earnings Quality	3.5
Capital Efficiency	3.5