Lamb Weston Holdings Inc
🔔 Watch stock
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
The business works in principle, but one material question is open. As long as it stays open, our findings do not carry a quality verdict.
Why this colour
Anyone buying here is not betting that the company loses customers — it is winning them. They are betting it can eventually push prices through again. Three things will show that in the coming filings: the price/mix effect (last reported at minus 6 percent), International Segment Adjusted EBITDA (last at $114.7 million after $257.6 million) and whether cash generation really holds the guided $750 million to $800 million of cash from operations against $380 million to $410 million of capital spending. Add two dates: the response deadline in the securities case on August 10, 2026 and the still pending ruling on the motion to dismiss in the antitrust case. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Lamb Weston is neither a restructuring case nor a sure thing. In fiscal 2026 the company sold 7 percent more volume and still earned $67.2 million less, because price and product mix gave up 6 percent and the international business collapsed by 55 percent. At the same time the expensive building phase is over: free cash flow swung from minus $131.3 million to plus $540.2 million within two years and covered the $320.7 million returned to shareholders 1.7 times. Two class actions remain open without any quantified accrual — one of them an antitrust matter seeking treble damages — along with the question of whether price erosion stops before the volume gained makes up for it. Not investment advice.
Market position & volume
Market leader in value-added frozen potato products in North America, shipping to more than 100 countries. In fiscal 2026 volume rose 7 percent company-wide and 9 percent in North America — attributed in the annual report to customer retention and contract wins. North America Segment Adjusted EBITDA gained $32.9 million to $1,142.4 million.
Price and margin
Price and product mix fell 6 percent company-wide in fiscal 2026, equally in both segments. Gross margin dropped to 20.6 percent from 21.7 percent (2025) and 27.3 percent (2024), and net income to $290.0 million from $357.2 million and $725.5 million. Company guidance for fiscal 2027 again assumes a slight decline in price/mix.
International business
International Segment Adjusted EBITDA collapsed by $142.9 million, or 55 percent, to $114.7 million in fiscal 2026 — on $2,217.1 million of segment net sales. The report cites tougher competition, softer demand, disrupted shipments in the Middle East, start-up costs in Argentina and an incremental $33.1 million write-off of excess raw potatoes.
Cash flow & balance sheet
Free cash flow swung from minus $131.3 million (fiscal 2024) through plus $230.1 million to plus $540.2 million, as additions to property, plant and equipment fell from $929.5 million to $402.7 million. Debt declined $219.5 million to $3,928.7 million and the revolver rate fell from 5.940 to 3.830 percent. Cash remains thin at $68.2 million; undrawn revolver capacity is roughly $1.3 billion.
Concentration & litigation
Ten customers account for roughly 50 percent of net sales and McDonald’s alone for roughly 15 percent (fiscal 2026). In parallel run a securities class action in Idaho — defendants must respond by August 10, 2026 — and an antitrust class action in Illinois over allegedly coordinated prices since January 1, 2021, seeking treble damages. Neither carries a quantified accrual.
Valuation
A market capitalization of roughly $6.8 billion (137,455,441 shares, $49.58 close on July 24, 2026) equals 23.8 times reported earnings, 1.0 times sales and 12.6 times the $540.2 million of free cash flow. The spread between those two multiples is the valuation question for this stock. The average analyst target of $47.92 sits slightly below the price, with 9 of 14 voices on hold (data date July 25, 2026).
Worth Noting
Lamb Weston reached our research list through the in-house stock scanner "Turnaround Candidates": rank 35 of 62 U.S. hits, turnaround check 6 of 8, as of July 25, 2026. These lists are recalculated daily, so the ranking is a dated snapshot.
The fiscal year ends in late May. References to "fiscal 2026" cover May 26, 2025 through May 31, 2026 — exceptionally 53 weeks instead of 52, which lifted net sales by $127.1 million and Adjusted EBITDA by $28.9 million on a one-off basis. Fiscal 2027 ends May 30, 2027 and has 52 weeks again.
Price figures are dated valuation anchors, not reasons to buy: close $49.58 on July 24, 2026, 52-week range $37.29 to $65.54 (data date July 25, 2026). The share count of 137,481,011 comes from the annual report cover page (as of July 17, 2026). More telling than the day price are the company's own buyback prices: an average $57.94 in fiscal 2025, $48.28 in fiscal 2026 and $41.04 in the fourth quarter of 2026.
A merger, take-private or acquisition was checked and is not happening: as of July 25, 2026 the filing index contains neither DEFM14A or PREM14A nor SC 13E-3. The two Item 1.01 reports concern the JANA Partners cooperation agreement (June 30, 2025) and a Chinese term loan facility (May 19, 2026).
Watch for confusion: on the New York Stock Exchange, LW stands for Lamb Weston Holdings, not for the former "LW EV Holdings" or any of the identically abbreviated funds and certificates on other venues.
Stock Watch
This analysis is as of August 26, 2026. Stock Watch will tell you what's changed at LW since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Price history
Chart
Interactive price chart (TradingView).
52-week range: 38.50 $ to 66.60 $ · Last price: 46.50 $ (As of: September 17, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 09/18/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
Quality & Screener
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Packaged Foods
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Lamb Weston Holdings Inc LW | 6.4 | 22.6 | 10.5 | 20.7 | 10.1 | 2.5 | -13.9 |
| JBS N.V. JBS | 39.9 | 11.7 | 6.2 | 11.8 | 2.5 | 13.0 | -16.1 |
| Kraft Heinz Co KHC | 29.1 | – | 13.1 | 33.5 | 20.7 | -3.5 | 2.7 |
| General Mills Inc GIS | 19.9 | 9.2 | 21.6 | 33.7 | 19.2 | -1.9 | -20.8 |
| McCormick & Company Incorporated MKC-V | 13.8 | 8.6 | 13.4 | 38.9 | 17.4 | 1.7 | -18.7 |
| McCormick & Company Incorporated MKC | 13.5 | 8.9 | 13.1 | 38.9 | 17.4 | 1.7 | -23.2 |
| The J. M. Smucker Company SJM | 12.8 | – | 14.8 | 38.0 | 18.5 | 3.7 | 22.5 |
| Hormel Foods Corporation HRL | 11.6 | 28.1 | 15.5 | 15.7 | 11.1 | 1.6 | -12.2 |
| Darling Ingredients Inc DAR | 10.7 | 48.5 | 9.6 | 26.3 | 8.1 | 7.4 | 100.8 |
| Median of companies shown | 13.5 | 11.7 | 13.1 | 33.5 | 17.4 | 1.7 | -13.9 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2017 | 3,168 | 518 | 327 | 2.23 | 447 | -647 | 2,486 |
| 2018 | 3,424 | 580 | 417 | 2.84 | 481 | -335 | 2,753 |
| 2019 | 3,757 | 668 | 479 | 3.25 | 681 | -5 | 3,048 |
| 2020 | 3,792 | 557 | 366 | 2.49 | 681 | 240 | 4,662 |
| 2021 | 3,671 | 475 | 318 | 2.16 | 574 | 481 | 4,209 |
| 2022 | 4,099 | 444 | 201 | 1.38 | 553 | 361 | 4,140 |
| 2023 | 5,351 | 882 | 1,009 | 6.95 | 418 | 1,411 | 6,520 |
| 2024 | 6,468 | 1,065 | 726 | 4.98 | 798 | 1,788 | 7,367 |
| 2025 | 6,451 | 665 | 357 | 2.50 | 868 | 1,738 | 7,393 |
| 2026 | 6,612 | 591 | 290 | 2.08 | 1,040 | 1,825 | 7,380 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q3 | 0.88 | -45.00 | 1,654 | -0.70 | 7.70 | 330 | 4 |
| 2024: Q4 | -0.25 | -116.90 | 1,601 | -7.60 | -2.30 | 99 | -50 |
| 2025: Q1 | 1.03 | 2.00 | 1,521 | 4.30 | 9.60 | 56 | -20 |
| 2025: Q2 | 0.84 | -5.60 | 1,676 | 4.00 | 7.20 | 383 | 295 |
| 2025: Q3 | 0.46 | -47.70 | 1,659 | 0.30 | 3.90 | 352 | 274 |
| 2025: Q4 | 0.44 | 276.00 | 1,618 | 1.10 | 3.80 | 444 | 298 |
| 2026: Q1 | 0.39 | -62.10 | 1,565 | 2.90 | 3.50 | 65 | -36 |
| 2026: Q2 | 0.79 | -6.00 | 1,770 | 5.60 | 6.20 | – | – |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 9 of our scanner strategies — each hit links to the scanner.
Growth
Quality & Balance Sheet
Breakout & Setup
Dividends
Momentum & Trend
Research
Value & GARP
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 05/31/2027 | 3.03 | 2.90 – 3.13 | 6,515 | 0.7% | 11 |
| 05/31/2028 | 3.37 | 3.15 – 3.49 | 6,621 | 11.3% | 11 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -3.9% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $736.9M |
|---|---|
| Market cap | $6.40B |
| Free cash flow in year ten | $496.4M |
| Terminal value as a share of market value | 40.9% |
For comparison: over the past five years free cash flow grew by 9.4% per year.
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Lamb Weston stellt tiefgekühlte Kartoffelprodukte her; in sechs ausgewerteten Einreichungen taucht künstliche Intelligenz ausschließlich als allgemeines Reputations- und Cyber-Risiko auf, nie als Umsatzquelle, Produkt oder belegter operativer Einsatz.
View the full file — quotes, sources, reviewed filings
„Negative or inaccurate posts or comments about us, our brands, or our products on social or digital media or inaccurate information contained in shopping, health or product evaluation applications which may use outputs derived from artificial intelligence applications could damage our reputation and our brands."
Negative oder unzutreffende Beiträge über uns, unsere Marken oder unsere Produkte in sozialen und digitalen Medien oder unzutreffende Angaben in Einkaufs-, Gesundheits- oder Produktbewertungs-Anwendungen, die Ergebnisse aus Anwendungen künstlicher Intelligenz verwenden können, könnten unserem Ruf und unseren Marken schaden.
10-K · 2026-07-24 · View SEC filing
„In addition, new technology, such as artificial intelligence, that could result in greater operational efficiency may further expose our computer systems to the risk of cyberattacks."
Zudem kann neue Technik wie künstliche Intelligenz, die zu höherer betrieblicher Effizienz führen könnte, unsere Computersysteme zusätzlich dem Risiko von Cyberangriffen aussetzen.
10-K · 2026-07-24 · View SEC filing
Filings Reviewed: 10-K 2026-07-24 · 10-Q 2026-04-01 · 10-Q 2025-12-19 · 10-Q 2025-09-30 · 10-K 2025-07-23 · DEF 14A 2025-08-07
Rated on July 25, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 7.3%
- More than 10% revenue growth is expected for the coming year -75.5%
- Share count grows by less than 3% a year -1.4%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 12.1%
- Gross margin at 40% or higher and without meaningful erosion 20.6%
- Goodwill from acquisitions does not grow faster than revenue 15.3%
- Net debt below twice EBITDA 6.6 x EBITDA
- Operating cash flow covers the profits of the last three years 1,333 m
- Return on capital at 15% or higher, or up versus two years ago 9.9%
- Insiders hold at least 10% or are net buyers 3.1%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
6/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 8.5%
- Exp. sales growth 3Y > 5% 0.1%
- EBIT growth 10Y > 5% 1.5%
- Exp. EBIT growth 3Y > 5% 27.2%
- Net debt < 4x EBIT 6.6x
- EBIT positive, 10Y straight 10
- Max. EBIT decline < 50% 44.5%
- Return on equity > 15% 49.4%
- ROCE > 15% 9.9%
- Expected return > 10% 39.9%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 4, 2026 | Crowley Michael Christopher | President, North America | Other | 1,805 | 53.18 | 95,990 |
| Aug 4, 2026 | Wilks Sylvia | Chief Supply Chain Officer | Other | 2,223 | 53.18 | 118,219 |
| Aug 4, 2026 | Schroeder Marc | PRESIDENT, INTERNATIONAL | Other | 3,492 | 53.18 | 185,705 |
| Aug 4, 2026 | Younes Steven J | CHIEF HUMAN RESOURCES OFFICER | Other | 1,498 | 53.18 | 79,664 |
| Aug 4, 2026 | Jones Gregory W | VP AND CONTROLLER | Other | 619 | 53.18 | 32,918 |
| Aug 4, 2026 | Smith Michael Jared | President and CEO | Other | 9,441 | 53.18 | 502,072 |
| Aug 4, 2026 | Spytek Eryk J | GEN COUNSEL & CHIEF COMPL OFF | Other | 3,820 | 53.18 | 203,148 |
| Jul 28, 2026 | Craps Jan Eli B | Executive Chair | Other | 68,656 | 0.00 | – |
| Jul 28, 2026 | Crowley Michael Christopher | President, North America | Other | 8,422 | 0.00 | – |
| Jul 28, 2026 | Wilks Sylvia | Chief Supply Chain Officer | Other | 8,971 | 0.00 | – |
The company
About the Company
Lamb Weston Holdings, Inc. engages in the production, distribution, and marketing of frozen potato products in the United States, Canada, Mexico, and internationally. It offers frozen potatoes, commercial ingredients, and appetizers under the Lamb Weston brand, as well as under various customer labels. The company also provides its products under its owned or licensed brands, such as Grown in Idaho and Alexia, and other licensed brands, as well as under retailers' own brands. It sells its products through a network of internal sales personnel and independent brokers, agents, and distributors to quick service and full-service restaurants and chains, wholesale, grocery, mass merchants, club retailers, and specialty retailers, as well as foodservice distributors and institutions, including businesses, educational institutions, independent restaurants, regional chain restaurants, and convenience stores. Lamb Weston Holdings, Inc. was incorporated in 1950 and is headquartered in Eagle, Idaho.
- Employees
- 10,000
- Headquarters
- Eagle, ID
- Address
- 599 South Rivershore Lane, 83616 Eagle, United States
- Phone
- 208 938 1047
- Website
- lambweston.com
- IPO Date
- 11/10/2016
- ISIN
- US5132721045
Management
| Name | Title | Birth Year |
|---|---|---|
| Jan Eli B. Craps | Executive Chair | 1977 |
| Michael Jared Smith | President, CEO & Director | 1977 |
| James Derek Gray | Chief Financial Officer | 1967 |
| Marc J.P.H. Schroeder | President of International | 1971 |
| Sylvia J. Wilks | Chief Supply Chain Officer | 1964 |
| Benjamin Heselton | Chief Information Officer | 1972 |
| Debbie Hancock | Vice President of Investor Relations | – |
| Eryk J. Spytek J.D. | General Counsel & Chief Compliance Officer | 1968 |
| Steven J. Younes J.D. | Chief Human Resources Officer | 1966 |
| Michael Christopher Crowley | President of North America | 1973 |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 09/16/2026 Lamb Weston Holdings, Inc. (LW): Submission of Matters to a Vote of Security Holders SEC ↗
- 07/24/2026 Lamb Weston Holdings, Inc. (LW): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 07/15/2026 Lamb Weston Holdings, Inc. (LW): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
Data as of: September 17, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.