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Tyson Foods, Inc.
S&P 500
$14.9B
Market Cap
40.7
P/E
0.76
PEG
2.1%
ROCE
1.8%
ROE
0.24
D/E
2.0%
OPM
-22.6%
% from 52W High
40
α RS
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🌏 Global Investor Returns
Currency-adjusted total returns for TSN including FX impact
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📈 Price History
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About

Tyson Foods, Inc., together with its subsidiaries, operates as a food company worldwide. It operates through four segments: Beef, Pork, Chicken, and Prepared Foods. The company processes live fed cattle and hogs; fabricates dressed beef and pork carcasses into primal and sub-primal meat cuts, as well as case ready beef and pork, and fully cooked meats; raises and processes chickens into fresh, frozen, and value-added chicken products, including breaded chicken strips, nuggets, patties, and other ready-to-fix or fully cooked chicken parts; and supplies poultry breeding stock. It also manufactures and markets frozen and refrigerated food products, including ready-to-eat sandwiches, flame-grilled hamburgers, Philly steaks, pepperoni, bacon, breakfast sausage, turkey, lunchmeat, hot dogs, flour and corn tortilla products, appetizers, snacks, prepared meals, ethnic foods, side dishes, meat dishes, breadsticks, and processed meats under the Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, Gallo Salame, ibp, and State Fair brands. The company sells its products through its sales staff to grocery retailers, grocery wholesalers, meat distributors, warehouse club stores, military commissaries, industrial food processing companies, chain restaurants or their distributors, live markets, international export companies, and domestic distributors who serve restaurants and food service operations, such as plant and school cafeterias, convenience stores, hospitals, and other vendors, as well as through independent brokers and trading companies. Tyson Foods, Inc. was founded in 1935 and is headquartered in Springdale, Arkansas.

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Manager Shares Value % of Fund Period
Steve Cohen Point72 Asset Management 262.4K $16.8M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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Mixed quarter Investor Presentation One-Pager? Q3 2026
Revenue
$13.9B
Flat YoY
Operating Income (Adjusted)
$547M
+8% YoY
Operating Margin (Adjusted)
3.9%
+0.3pp YoY
Net Income (Adjusted EPS)
$0.99
+9% YoY
What Went Right
  • Chicken delivered segment operating income of $488M, up $40M YoY, at an 11.2% margin with seven straight quarters of volume/sales growth.
  • Prepared Foods posted its third consecutive quarter of volume and sales growth, with the highest-ever retail volume share and volume/dollar/unit share up 70/50/70 bps.
  • Adjusted EPS rose 9% to $0.99, free cash flow was $913M for the first nine months, and net leverage ended at 2.1x.
What to Watch
  • Beef adjusted operating loss widened to $138M and full-year beef guidance was cut to a $500M-$650M loss on cattle supply and USDA margin compression.
  • Prepared Foods absorbed roughly $30M of higher commodity costs in Q3, with pricing catch-up expected to benefit only late Q4/into FY27.
  • Fuel/freight costs have been a headwind since mid-April, and chicken faces a tough comparison against an all-time-record Q4 last year amid commodity chicken oversupply.
Management Guidance
  • Q4 revenue guidance not provided; FY26 sales growth narrowed to 2.5%-3.5% on a comparable 52-week basis.
  • FY26 adjusted operating income narrowed to $2.1B-$2.3B.
  • Segments: Chicken reaffirmed at $1.9B-$2.05B; Prepared Foods raised to $1.3B-$1.35B; Pork $250M-$300M; International $150M-$200M; Beef now a loss of $500M-$650M.
  • Capex expected at $700M-$900M, free cash flow $1.3B-$1.7B, interest expense ~$365M, and tax rate ~25%.
Investor Lens
The multi-protein strategy is working outside beef: chicken and prepared foods are compounding with volume, share gains, and double-digit segment margins. However, the beef drag is real and full-year profit guidance was cut again, so the overall thesis is not uniformly stronger. Management's message that chicken is now largely a branded/pull business rather than a commodity push business is credible, supported by net price realization rising even as commodity cutouts fell 45%. The key swing factor remains beef; if losses stabilize, self-help plus branded mix could drive accelerating EPS.
From investor presentation · AI-generated analysis · Not investment advice
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📊 MIXED Strong chicken/prepared foods offset by beef; adjusted EPS +9%
Revenue
Q3 sales were $13.868B, essentially flat YoY, as 3.4% higher average price offset a 2.8% volume decline driven by beef supply. Excluding a $98M legal contingency accrual, sales rose 0.6%. Prepared Foods sales rose 1.7% to $2.6B, while Beef, Chicken, Pork, and International sales were reported at $5,391M, $4,255M, $1,580M, and $601M respectively.
Profitability
Adjusted operating income rose 8% YoY to $547M, and adjusted EPS was $0.99 versus $0.91 last year, up 9%. GAAP EPS was $0.52, up from $0.17. Total segment adjusted operating income was $779M, up $18M YoY.
Margins
Adjusted operating margin expanded 30bps to 3.9% from 3.6%. Chicken segment margin was 11.2%, Prepared Foods was 12.6%, Pork 3.8%, International 8.0%, and Beef was -2.6%.
Balance Sheet
Quarter-end liquidity was $4B and net leverage was 2.1x. First-nine-month operating cash flow was $1,469M and capex $556M, yielding free cash flow of $913M. Total debt was reduced $824M YTD, and $652M was returned to shareholders, plus an additional $49M of buybacks since quarter-end.
Key Risks
Management and analysts flagged continued cattle supply constraints and USDA margin compression in beef, with the Mexican border reopening not material until 2027. Prepared Foods faced ~$30M of higher commodity costs and delayed pricing recovery, while fuel/freight inflation and pressured consumer sentiment remain ongoing headwinds.
Outlook
Q4 revenue guidance was not provided, but FY26 sales growth was narrowed to 2.5%-3.5% and adjusted operating income to $2.1B-$2.3B. Management expects FY27 to look a lot like FY26 with continued growth in volume and profitability across most segments, while beef remains the primary challenge.
Generated by AI · Q3 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q3 2026 Q3 2026 2026-08-03
Q3 results showed flat sales but improved profitability, with strong performance in Chicken and Prepared Foods offsetting Beef losses. Guidance for 2026 was narrowed, with continued growth expected in key segments and operational discipline in Beef. Free cash flow and liquidity remain strong.
Q2 2026 Q2 2026 2026-05-04
Second quarter sales rose 4.4% to $13.7B, with strong gains in Chicken and Prepared Foods and improved guidance for the year. Operational excellence, innovation, and a structural advantage in genetics are driving sustainable growth and margin expansion.
Q1 2026 Q1 2026 2026-02-02
Q1 saw 6.2% sales growth to $14.3B, with strong results in Chicken, Prepared Foods, Pork, and International, but beef segment losses weighed on overall profit. FY2026 guidance remains positive, with improved free cash flow and continued operational focus.
Q4 2025 Q4 2025 2025-11-10
Q4 and FY25 saw strong sales and profit growth, led by chicken, pork, and prepared foods, while beef faced supply-driven headwinds. 2026 guidance anticipates continued growth in chicken and prepared foods, with beef expected to remain challenged due to tight cattle supply. Capital allocation remains disciplined, supporting innovation and shareholder returns.
Q3 2025 Q3 2025 2025-08-04
Achieved fifth straight quarter of year-over-year growth in sales, adjusted operating income, and EPS, with strong performance in chicken, prepared foods, and pork offsetting beef headwinds. Raised full-year guidance, improved leverage, and resumed share repurchases.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Information Sources:
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