CA
Cal-Maine Foods Inc
CALM—
Cal-Maine Foods Inc AI Insights
Informational only. Not investment advice.Snapshot
- Zero debt with 55% ROE TTM vs industry median -5% - exceptional capital efficiency without leverage amplification.[ROE TTM]
- Operating margin 36% TTM vs industry median -6% - structural cost advantage in commodity business.[Operating Margin TTM]
- FCF of 1.2B TTM (28% margin) funds 8.32/share dividend - 32% payout ratio leaves buyback optionality.[Free Cash Flow TTM]
Watch Triggers
- Gross Margin TTM: Falls below 25% — Signals egg price normalization - current 44% is 2-3x historical average.
- Operating Margin TTM: Falls below 15% — Would indicate cycle turning - earnings could compress 50%+ from current levels.
- Inventory: Rises above 400M — Industry oversupply signal - flock rebuilding creates pricing pressure.
Bull Case
Fortress balance sheet (zero debt, 1.6B working capital) enables opportunistic M&A during industry distress while competitors struggle.
Debt to EquityWorking CapitalCash and Equivalents
Vertically integrated scale leader with 1.2B TTM FCF can weather commodity downturns that eliminate smaller competitors.
Free Cash Flow TTMTotal Revenue TTMOperating Margin TTM
Bear Case
Current 36% operating margin reflects avian flu supply shock - historical margins 5-10% suggest 70%+ earnings decline risk.
Operating Margin TTMEPS TTMEPS Growth 5Y TTM
Commodity business with no pricing power - 3Y revenue CAGR 12% entirely volume/price-driven, not structural growth.
Total Revenue 3Y GrowthGross Margin TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
35%
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Forward Thesis
Margin normalization likely as egg prices revert from avian flu-driven highs.
1-3yhigh
- Gross margin 44% TTM vs historical 15-20% range
- Industry supply rebuilding post-outbreak
- Commodity pricing mean-reversion pattern
Operating margin 36% vs industry median -6%5Y EPS CAGR 101% reflects abnormal cycleNet margin 29% TTM unsustainable in commodities
Valuation Context
Caveats
Public Strategies Rankings
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CALM Fundamentals
Agriculture, Forestry, Fishing and Hunting → Crop Production
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$3.75B | — | ||
$3.38B | — | ||
3.3 | — | ||
$4.21B | +36.6% | — | |
$23.53 | +91.4% | — | |
34.3% | +10.2% | — | |
27.4% | +7.0% | — | |
$1.17B | +148.5% | — | |
0.49 | +14.4% | — | |
Beta 5Y (Monthly) | unknown | — |
CALM Dividend History
84 dividends
2026
$0.720001/28/26$0.7200
2025
$8.670010/29/25$1.3700
08/04/25$2.3500
04/30/25$3.4600
01/29/25$1.4900
2024
$2.906010/30/24$1.0200
08/05/24$0.7700
04/30/24$1.0000
01/30/24$0.1160
2023
$4.316010/31/23$0.0060
08/04/23$0.7600
04/25/23$2.2000
01/24/23$1.3500
2022
$1.725010/25/22$0.8500
07/29/22$0.7500
04/26/22$0.1250
2021
$0.034004/27/21$0.0340
2019
$0.421004/30/19$0.2720
01/29/19$0.1490
2018
$0.436010/30/18$0.0850
08/03/18$0.3510
2016
$1.192004/25/16$0.4410
01/25/16$0.7510
2015
$1.902010/26/15$0.9830
07/30/15$0.3170
04/27/15$0.3500
01/26/15$0.2520
2014
$1.074010/27/14$0.3810
08/06/14$0.2170
04/28/14$0.2955
01/27/14$0.1805
2013
$0.345010/28/13$0.0340
04/29/13$0.2115
01/28/13$0.0995
2012
$0.670010/31/12$0.0655
08/08/12$0.2600
04/23/12$0.1820
01/23/12$0.1625
2011
$0.414010/24/11$0.0220
08/03/11$0.0510
04/25/11$0.2350
01/24/11$0.1060
2010
$0.508010/25/10$0.0335
08/04/10$0.1470
04/26/10$0.2415
01/25/10$0.0860
2009
$0.479007/29/09$0.0720
04/27/09$0.2160
01/26/09$0.1910
2008
$0.740010/27/08$0.0785
07/29/08$0.2580
04/28/08$0.4035
2007
$0.025011/19/07$0.0063
08/21/07$0.0063
05/07/07$0.0063
02/20/07$0.0063
2006
$0.025011/20/06$0.0063
08/22/06$0.0063
05/23/06$0.0063
02/14/06$0.0063
2005
$0.025011/15/05$0.0063
08/16/05$0.0063
05/17/05$0.0063
02/15/05$0.0063
2004
$0.021911/16/04$0.0063
08/17/04$0.0063
05/18/04$0.0063
02/27/04$0.0032
2003
$0.012611/18/03$0.0032
08/19/03$0.0032
05/20/03$0.0032
02/18/03$0.0032
2002
$0.012611/19/02$0.0032
08/20/02$0.0032
05/21/02$0.0032
02/19/02$0.0032
2001
$0.012611/19/01$0.0032
08/21/01$0.0032
05/22/01$0.0032
02/20/01$0.0032
2000
$0.012611/20/00$0.0032
08/22/00$0.0032
05/23/00$0.0032
02/15/00$0.0032
CALM Stock Splits
2 stock splits
11/03/141:2 split
04/26/040.5:1 split
CALM SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
01/07/26 | 11/29/25 | 10-Q | |
10/01/25 | 08/30/25 | 10-Q | |
07/22/25 | 05/31/25 | Unknown | |
04/08/25 | 03/01/25 | 10-Q | |
01/07/25 | 11/30/24 | 10-Q | |
10/01/24 | 08/31/24 | 10-Q | |
07/23/24 | 06/01/24 | 10-K | |
04/02/24 | 03/02/24 | 10-Q | |
01/03/24 | 12/02/23 | 10-Q | |
10/03/23 | 09/02/23 | 10-Q | |
07/25/23 | 06/03/23 | 10-K | |
03/28/23 | 02/25/23 | 10-Q | |
12/28/22 | 11/26/22 | 10-Q | |
09/27/22 | 08/27/22 | 10-Q | |
07/19/22 | 05/28/22 | 10-K | |
03/29/22 | 02/26/22 | 10-Q | |
12/28/21 | 11/27/21 | 10-Q | |
09/28/21 | 08/28/21 | 10-Q | |
07/19/21 | 05/29/21 | 10-K | |
03/29/21 | 02/27/21 | 10-Q | |
01/05/21 | 11/28/20 | 10-Q | |
09/28/20 | 08/29/20 | 10-Q | |
07/20/20 | 05/30/20 | 10-K | |
03/30/20 | 02/29/20 | 10-Q | |
01/06/20 | 11/30/19 | 10-Q | |
09/30/19 | 08/31/19 | 10-Q | |
07/22/19 | 06/01/19 | 10-K | |
04/01/19 | 03/02/19 | 10-Q | |
01/04/19 | 12/01/18 | 10-Q | |
10/01/18 | 09/01/18 | 10-Q | |
07/23/18 | 06/02/18 | 10-K | |
04/02/18 | 03/03/18 | 10-Q | |
01/05/18 | 12/02/17 | 10-Q | |
10/02/17 | 09/02/17 | 10-Q | |
07/24/17 | 06/03/17 | 10-K | |
03/27/17 | 02/25/17 | 10-Q | |
12/22/16 | 11/26/16 | 10-Q | |
09/26/16 | 08/27/16 | 10-Q | |
07/18/16 | 05/28/16 | 10-K | |
03/28/16 | 02/27/16 | 10-Q | |
12/23/15 | 11/28/15 | 10-Q | |
09/30/15 | 08/29/15 | 10-Q | |
07/20/15 | 05/30/15 | 10-K | |
03/30/15 | 02/28/15 | 10-Q | |
12/29/14 | 11/29/14 | 10-Q | |
09/29/14 | 08/30/14 | 10-Q | |
07/28/14 | 05/31/14 | 10-K | |
03/31/14 | 03/01/14 | 10-Q | |
12/31/13 | 11/30/13 | 10-Q | |
10/03/13 | 08/31/13 | 10-Q | |
08/05/13 | 06/01/13 | 10-K | |
04/05/13 | 03/02/13 | 10-Q | |
01/08/13 | 12/01/12 | 10-Q | |
10/04/12 | 09/01/12 | 10-Q | |
08/06/12 | 06/02/12 | 10-K | |
03/30/12 | 02/25/12 | 10-Q | |
12/30/11 | 11/26/11 | 10-Q | |
09/30/11 | 08/27/11 | 10-Q | |
08/04/11 | 05/28/11 | 10-K | |
03/31/11 | 02/26/11 | 10-Q | |
12/30/10 | 11/27/10 | 10-Q | |
09/30/10 | 08/28/10 | 10-Q | |
08/02/10 | 05/29/10 | 10-K | |
03/31/10 | 02/27/10 | 10-Q | |
01/05/10 | 11/30/09 | 10-Q | |
09/29/09 | 08/29/09 | 10-Q | |
08/11/09 | 05/31/09 | 10-K | |
04/01/09 | 02/28/09 | 10-Q | |
12/31/08 | 11/30/08 | Unknown | -- |
09/30/08 | 08/31/08 | 10-Q | |
08/05/08 | 05/30/08 | Unknown | -- |
04/01/08 | 02/29/08 | Unknown | -- |
01/04/08 | 11/30/07 | Unknown | -- |
10/04/07 | 08/30/07 | Unknown | -- |
08/16/07 | 05/30/07 | Unknown | -- |
04/09/07 | 02/28/07 | Unknown | -- |
01/09/07 | 11/30/06 | Unknown | -- |
10/10/06 | 08/30/06 | Unknown | -- |
08/17/06 | 05/30/06 | Unknown | -- |
04/05/06 | 02/28/06 | Unknown | -- |
01/04/06 | 11/30/05 | Unknown | -- |
10/06/05 | 08/30/05 | Unknown | -- |
08/11/05 | 05/30/05 | Unknown | -- |
04/11/05 | 02/28/05 | Unknown | -- |
01/10/05 | 11/30/04 | Unknown | -- |
10/05/04 | 08/30/04 | Unknown | -- |
08/18/04 | 05/30/04 | Unknown | -- |
04/09/04 | 02/29/04 | Unknown | -- |
01/12/04 | 11/30/03 | Unknown | -- |
10/06/03 | 08/31/03 | 10-Q | |
08/12/03 | 05/30/03 | Unknown | -- |
04/10/03 | 02/28/03 | Unknown | -- |
01/13/03 | 11/30/02 | 10-Q | |
10/09/02 | 08/30/02 | Unknown | -- |
08/16/02 | 05/30/02 | Unknown | -- |
04/09/02 | 02/28/02 | Unknown | -- |
01/11/02 | 11/30/01 | Unknown | -- |
10/15/01 | 08/30/01 | Unknown | -- |
08/13/01 | 05/30/01 | Unknown | -- |
04/11/01 | 02/28/01 | Unknown | -- |
01/12/01 | 11/30/00 | Unknown | -- |
10/13/00 | 08/30/00 | Unknown | -- |
08/21/00 | 05/30/00 | Unknown | -- |
04/10/00 | 02/29/00 | Unknown | -- |