Campbell Soup Company (CPB) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+111.4%

$46.14

vs $21.83 price

Levered DCF

$36.55

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.5

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	16.69×	15.99×	24.66×	15.97×	19.75×	13.21×	9.2×	59.06×
P/B	1.73×	2.47×	3.71×	3.74×	4.48×	4.2×	5.84×	11.28×
P/S	0.68×	0.94×	1.46×	1.46×	1.74×	1.56×	1.72×	1.53×
EV / EBITDA	10.53×	10.6×	15.17×	10.85×	13.23×	9.91×	14.29×	14.64×
Gross margin	28.1%	30.4%	30.8%	31.2%	30.7%	33.2%	34.5%	33.2%
Operating margin	8.7%	11.5%	12.3%	14.0%	13.8%	15.5%	14.9%	12.1%
Net margin	4.1%	5.9%	5.9%	9.2%	8.8%	11.8%	18.7%	2.6%
Current ratio	0.82×	0.77×	0.61×	0.93×	0.68×	0.93×	0.78×	0.58×
Debt / equity	1.85×	1.85×	1.99×	1.36×	1.52×	1.68×	2.52×	7.68×
Interest coverage	2.57×	3.41×	4.74×	6.98×	6.24×	6.27×	3.75×	2.75×
Dividend yield	7.1%	4.8%	3.2%	3.3%	3.0%	3.3%	2.8%	3.4%
Payout ratio	116.6%	76.2%	78.5%	52.1%	59.6%	43.8%	26.2%	200.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	10.5%	15.4%	14.9%	23.4%	22.7%	31.8%	63.5%	19.1%
Return on invested capital	4.9%	6.9%	6.7%	9.9%	9.3%	9.9%	9.5%	6.7%
Return on assets	2.6%	4.0%	3.7%	7.1%	6.4%	8.5%	13.2%	1.6%
Free cash flow yield	10.2%	7.3%	4.8%	5.6%	6.3%	5.7%	7.3%	8.1%
Earnings yield	6.0%	6.3%	4.0%	6.3%	5.1%	7.6%	10.9%	1.7%
Enterprise value	$13.4B	$16.7B	$21.5B	$18.5B	$19.9B	$18.5B	$20.6B	$20.9B
Net debt / EBITDA	5.3×	4.5×	5.25×	2.81×	3.29×	2.8×	3.88×	5.92×
Cash conversion cycle (days)	34	25	28	20	18	17	13	29