Seneca Foods Corp
SENEB—
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Seneca Foods Corp AI Insights
Informational only. Not investment advice.Snapshot
- EPS growth 126% TTM vs revenue flat - massive margin expansion from 44% gross profit growth and inventory liquidation (164M reduction)[EPS Growth 1Y]
- FCF of 254M TTM (16% margin) vs 31M industry median - 8x peers driven by 164M inventory release and 158M payables increase[Free Cash Flow TTM]
- P/B of 1.21x vs book value 97.11/share with zero goodwill - trading near tangible asset value despite 9.4% ROE[P/B Ratio]
Watch Triggers
- Inventory: Increases >100M from 786M level — Signals FCF normalization beginning - expect 150-200M FCF headwind
- Gross Margin TTM: Falls below 8% — Would compress operating income toward breakeven given fixed cost structure
- Accounts Payable: Declines >50M from 244M — Payables normalization would consume cash, pressure liquidity
Bull Case
Deep value at 0.51x P/S and 2.8x P/CF with tangible assets backing entire market cap - no goodwill impairment risk, 97/share book value vs 118 price
P/S RatioP/CF RatioBook Value Per Share
Debt/equity 0.42x with 254M FCF can eliminate 284M total debt in ~1 year if working capital gains sustained
Debt to EquityFree Cash Flow TTMTotal Debt
Bear Case
Gross margin 10.5% is 1/3 of industry median 29.7% - commodity processor with minimal pricing power and structural margin disadvantage
Gross Margin TTMOperating Margin TTM
FCF quality poor - 185M from payables/inventory timing vs 254M total; normalized FCF closer to 70-90M implying 9-12x P/FCF not 2.8x
Change in PayablesChange in InventoryFree Cash Flow TTM
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Working capital normalization will compress FCF 60-70% as inventory rebuilds and payables reverse
3-12mhigh
- Inventory at 786M down 164M - unsustainable for food processor
- Payables up 158M TTM - timing benefit will reverse
- Seasonal canning business requires inventory build
FCF 254M vs CFO 293M - only 38M capexInventory 49% of revenue vs typical 30-35%Change in payables 185M one-time benefit
Gross margin expansion (10.5% vs prior periods) may sustain if input cost environment remains favorable
1-3ymed
- 44% gross profit growth on flat revenue
- Operating margin 5.7% at industry median
- Low capex intensity (2.4% of revenue)
Gross margin 10.5% vs 29.7% industry medianOperating income 92M at exact industry medianDepreciation only 11M on 346M PPE
Valuation Context
Caveats
SENEB Fundamentals
Manufacturing → Food Manufacturing
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
Beta 5Y (Monthly) | unknown | — |
SENEB Dividend History
No dividends
SENEB Stock Splits
No stock splits
SENEB SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/05/26 | 12/27/25 | 10-Q | |
11/05/25 | 09/27/25 | 10-Q | |
08/07/25 | 06/28/25 | 10-Q | |
06/12/25 | 03/31/25 | Unknown | |
02/06/25 | 12/28/24 | 10-Q | |
11/06/24 | 09/28/24 | 10-Q | |
08/08/24 | 06/29/24 | 10-Q | |
06/13/24 | 03/31/24 | 10-K | |
02/08/24 | 12/30/23 | 10-Q | |
11/09/23 | 09/30/23 | 10-Q | |
08/09/23 | 07/01/23 | 10-Q | |
06/13/23 | 03/31/23 | 10-K | |
02/08/23 | 12/31/22 | 10-Q | |
11/09/22 | 10/01/22 | 10-Q | |
08/11/22 | 07/02/22 | 10-Q | |
06/10/22 | 03/31/22 | 10-K | |
02/10/22 | 01/01/22 | 10-Q | |
11/12/21 | 10/02/21 | 10-Q | |
08/11/21 | 07/03/21 | 10-Q | |
07/31/23 | 03/31/21 | 10-K/A | |
06/11/21 | 03/31/21 | 10-K | |
02/03/21 | 12/26/20 | 10-Q | |
11/04/20 | 09/26/20 | 10-Q | |
08/05/20 | 06/27/20 | 10-Q | |
07/02/20 | 03/31/20 | 10-K | |
02/05/20 | 12/28/19 | 10-Q | |
11/06/19 | 09/28/19 | 10-Q | |
08/07/19 | 06/29/19 | 10-Q | |
06/13/19 | 03/31/19 | 10-K | |
02/01/19 | 12/29/18 | 10-Q | |
11/09/18 | 09/29/18 | 10-Q | |
07/31/18 | 06/30/18 | 10-Q | |
06/29/18 | 03/31/18 | 10-K | |
01/25/18 | 12/30/17 | 10-Q | |
10/26/17 | 09/30/17 | 10-Q | |
07/31/17 | 07/01/17 | 10-Q | |
05/25/17 | 03/31/17 | 10-K | |
09/07/18 | 12/31/16 | 10-Q/A | |
01/25/17 | 12/31/16 | 10-Q | |
09/07/18 | 10/01/16 | 10-Q/A | |
11/07/16 | 10/01/16 | 10-Q | |
07/29/16 | 07/02/16 | 10-Q | |
06/08/16 | 03/31/16 | 10-K | |
02/02/16 | 12/26/15 | 10-Q | |
11/02/15 | 09/26/15 | 10-Q | |
07/31/15 | 06/27/15 | 10-Q | |
06/09/15 | 03/31/15 | 10-K | |
02/02/15 | 12/27/14 | 10-Q | |
10/23/14 | 09/27/14 | 10-Q | |
08/06/14 | 06/28/14 | 10-Q | |
05/22/14 | 03/31/14 | 10-K | |
01/29/14 | 12/28/13 | 10-Q | |
10/23/13 | 09/28/13 | 10-Q | |
08/01/13 | 06/29/13 | 10-Q | |
05/23/13 | 03/31/13 | 10-K | |
01/31/13 | 12/31/12 | 10-Q | |
10/25/12 | 09/29/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
06/08/12 | 03/31/12 | 10-K | |
01/27/12 | 12/31/11 | 10-Q | |
10/27/11 | 10/01/11 | 10-Q | |
08/03/11 | 07/02/11 | 10-Q | |
05/26/11 | 03/31/11 | 10-K | |
01/27/11 | 01/01/11 | 10-Q | |
10/28/10 | 10/02/10 | 10-Q | |
08/04/10 | 07/03/10 | 10-Q | |
05/26/10 | 03/31/10 | 10-K | |
02/02/10 | 12/26/09 | 10-Q | |
11/05/09 | 09/30/09 | 10-Q | |
08/06/09 | 06/30/09 | 10-Q | |
06/12/09 | 03/30/09 | 10-K | |
02/04/09 | 12/31/08 | 11-K | |
11/04/08 | 09/30/08 | Unknown | -- |
08/07/08 | 06/30/08 | Unknown | -- |
06/16/08 | 03/30/08 | Unknown | -- |
02/06/08 | 12/31/07 | 11-K | |
11/07/07 | 09/30/07 | Unknown | -- |
08/08/07 | 06/30/07 | 10-Q | |
06/14/07 | 03/30/07 | Unknown | -- |
02/07/07 | 12/31/06 | 11-K | |
11/08/06 | 09/30/06 | 10-Q | |
08/04/06 | 06/30/06 | Unknown | -- |
06/14/06 | 03/30/06 | Unknown | -- |
02/08/06 | 12/31/05 | 10-Q | |
09/30/05 | 09/30/05 | Unknown | -- |
08/10/05 | 06/30/05 | Unknown | -- |
06/14/05 | 03/30/05 | Unknown | -- |
02/03/05 | 12/31/04 | 11-K | |
11/04/04 | 09/30/04 | Unknown | -- |
08/05/04 | 06/30/04 | 8-K | |
06/14/04 | 03/30/04 | Unknown | -- |
02/09/04 | 12/31/03 | NT 11-K | |
11/12/03 | 09/30/03 | Unknown | -- |
08/14/03 | 06/30/03 | Unknown | -- |
06/26/03 | 03/30/03 | Unknown | -- |
02/11/03 | 12/31/02 | 11-K | |
11/08/02 | 09/30/02 | Unknown | -- |
08/12/02 | 06/30/02 | Unknown | -- |
06/25/02 | 03/30/02 | Unknown | -- |
02/12/02 | 12/31/01 | 11-K | |
11/09/01 | 09/30/01 | Unknown | -- |
08/13/01 | 06/30/01 | 10-Q | |
06/26/01 | 03/30/01 | Unknown | -- |
02/12/01 | 12/31/00 | 11-K | |
11/13/00 | 09/30/00 | 10-Q | |
08/14/00 | 06/30/00 | Unknown | -- |
06/23/00 | 03/30/00 | Unknown | -- |