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Campbell's (CPB) financial statements: income, balance sheet and cash flow

Nasdaq: CPB · Consumer staples · United States

Signed off by OffScriptBySami on  · Updated

Data as of  · For information only, not investment advice.

In brief

Campbell's (Nasdaq: CPB) shows total assets of USD 15.6 billion, total debt of USD 7.14 billion and cash from operations of USD 1.04 billion in the statements of its Form 10-K for FY2026, the year ended 2 Aug 2026. Free cash flow was USD 678 million, our calculation. Operating income fell to USD 4 million in Q4 FY2026.

Data as of Source: Form 10-K for FY2026, filed

Key facts

Data as of

Campbell's (Nasdaq: CPB) · USD · fiscal year ends late August · figures from SEC filings; derived values are marked.

Revenue, TTM (USD bn)
9.74
TTM to · Form 10-K
Revenue by quarter, from USD 2.77 bn in Q1 FY2025 to USD 2.14 bn in Q4 FY2026
Operating income, TTM (USD m)
852
TTM to · Form 10-K
Net income, TTM (USD m)
403
TTM to · Form 10-K
Free cash flow, TTM (USD m)
678
TTM to · derived
Total assets (USD bn)
15.6
at · Form 10-K
Net debt (USD bn)
6.74
at · derived: total debt minus cash and short-term investments

What the numbers show

Campbell's income statement for FY2026, the year ended 2 Aug 2026, shows revenue of USD 9.74 billion, down 5.0% on FY2025, and net income of USD 403 million. Operating income was USD 852 million, an operating margin of 8.7%, our calculation. FY2025 ran 371 days against 364 for FY2026, so the revenue change carries a note.

Revenue fell year on year in each quarter of FY2026, by 7.9% in Q4, a quarter of 91 days against 98. Operating income in Q4 FY2026 was USD 4 million, an operating margin of 0.2%, and the quarter ended with a net loss of USD 60 million. Gross margin, our calculation, fell to 27.3% from 30.4%. Gross profit less SG&A and R&D is far above operating income, so other charges sit in it that these tables do not itemise. Over FY2022 to FY2026, revenue grew 3.3% a year and net income fell 14.6% a year, our calculation.

Campbell's balance sheet held total assets of USD 15.6 billion at 2 Aug 2026, up from USD 12.1 billion at the end of FY2023. Goodwill and intangibles were USD 9.52 billion, most of that total. Inventory rose to USD 1.61 billion from USD 1.42 billion a year earlier. Current liabilities of USD 3.34 billion exceeded current assets of USD 2.72 billion, and equity was USD 3.85 billion.

Total debt was USD 7.14 billion at 2 Aug 2026, against USD 4.69 billion at the end of FY2023. With cash and short-term investments of USD 394 million, net debt was USD 6.74 billion, our calculation. The step up came in FY2024, when cash from investing was negative USD 3.13 billion and cash from financing USD 1.86 billion.

In the cash flow statement, cash from operations was USD 1.04 billion in FY2026 and USD 1.13 billion in FY2025. After capital expenditure of USD 361 million, free cash flow, our calculation, was USD 678 million, against USD 939 million in FY2022. Quarterly cash flow is seasonal, with USD 516 million of cash from operations in Q2 FY2026. Dividends paid were USD 470 million in FY2026.

Diluted EPS was USD 1.31 per share in FY2026 and USD 2.01 per share in FY2025, with a diluted share count of 300 million shares in both years. Dividends declared were USD 1.56 per share, which free cash flow covered 1.4×, our calculation, as FCF cover explains. These tables end at 2 Aug 2026, so the lower quarterly dividend announced on 3 Sep 2026 is not in them; Campbell's stock fundamentals covers it.

Income statement

Chart 1

Campbell's quarterly revenue, Q1 FY2025 to Q4 FY2026

USD bn · quarters ended to

Revenue by quarter, from USD 2.77 bn in Q1 FY2025 to USD 2.14 bn in Q4 FY2026.01232.1Q1FY25Q2Q3Q4Q1FY26Q2Q3Q4stockfactsheet.com
Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 1 Campbell's income statement, annual, FY2022–FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late August
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended CAGRFY22–FY26
Revenue9,74410,2539,6369,3578,562increased 3.3%
Revenue YoY %decreased 5.0% 1increased 6.4% 2increased 3.0%increased 9.3%increased 1.0%not available
Cost of revenue7,0027,1346,6656,4405,935increased 4.2%
Gross profit2,742 D3,119 D2,971 D2,917 D2,627 Dincreased 1.1%
Gross margin %28.1%30.4%30.8%31.2%30.7%not available
R&D991001029287increased 3.3%
SG&A1,553 D1,598 D1,570 D1,465 D1,351 Dincreased 3.5%
Operating income8521,1241,0001,3121,163decreased 7.5%
Operating margin %8.7%11.0%10.4%14.0%13.6%not available
Net interest−323 D−328 D−243 D−184 D−188 Dn/m
Pre-tax income5297967571,128975decreased 14.2%
Income tax124194190270218decreased 13.2%
Net income403602567858757decreased 14.6%
Net margin %4.1%5.9%5.9%9.2%8.8%not available
Per share
Diluted EPS (USD)1.312.011.892.852.51decreased 15.0%
Diluted shares (m)300300300301302not available
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Combined from line items reported in the same filing (see Methodology).
  • D Combined from line items reported in the same filing (see Methodology).
  • D Net interest = interest income − interest expense, both from the same filing.
  • Not available
  • Not meaningful

1 FY2026 had 52 weeks; FY2025 had 53 weeks (364 vs 371 days).

2 FY2025 had 53 weeks; FY2024 had 52 weeks (371 vs 364 days).

CAGR: compound annual growth rate from FY2022 to FY2026, our calculation; n/m when the endpoints differ in sign or the base is zero or negative.

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Quarterly

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Table 2 Campbell's income statement, quarterly, Q1 FY2025–Q4 FY2026 (USD millions) USD millions, except per-share data (USD) and percentages · Fiscal year ends late August
USD mQ4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended Q1 FY2025ended
Revenue2,137 D2,3662,5642,6772,321 D2,4752,6852,772
Revenue YoY %decreased 7.9% 1decreased 4.4%decreased 4.5%decreased 3.4%increased 1.2% 2increased 4.5%increased 9.3%increased 10.1%
Cost of revenue1,554 D1,7161,8471,8851,616 D1,7471,8661,905
Gross profit583 D650 D717 D792 D705 D728 D819 D867 D
Gross margin %27.3%27.5%28.0%29.6%30.4%29.4%30.5%31.3%
R&D28 D25222426 D232526
SG&A352 D369 D412 D420 D374 D378 D421 D425 D
Operating income4 D239273336269 D161327367
Operating margin %0.2%10.1%10.6%12.6%11.6%6.5%12.2%13.2%
Net interest−83 D−80 D−80 D−80 D−85 D−80 D−80 D−83 D
Pre-tax income−79 D159193256184 D81247284
Income tax−21 D35486239 D157466
Net income−60 D124145194145 D66173218
Net margin %−2.8%5.2%5.7%7.2%6.2%2.7%6.4%7.9%
Per share
Diluted EPS (USD)not available0.410.480.65not available0.220.580.72
Diluted shares (m)not available299299299not available299299301
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Combined from line items reported in the same filing (see Methodology).
  • D Combined from line items reported in the same filing (see Methodology).
  • D Net interest = interest income − interest expense, both from the same filing.
  • Not available

1 Q4 FY2026 ran – (91 days); Q4 FY2025 ran – (98 days).

2 Q4 FY2025 ran – (98 days); Q4 FY2024 ran – (91 days).

Totals may not add up because of rounding.

Arrows show direction of change only, not whether a change is good or bad.

Balance sheet

Annual

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Table 3 Campbell's assets, annual, FY2022–FY2026 (USD millions) USD millions
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Cash and short-term investments394132108189109
Receivables517541587494490
Inventory1,6121,4241,3861,2911,246
Total current assets2,7202,2322,1902,0611,963
PP&E (net)2,8682,7672,6982,3982,343
Goodwill and intangibles9,519 D9,347 D9,793 D7,107 D7,177 D
Total assets15,64814,89615,23512,05811,892
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 4 Campbell's liabilities and shareholders' equity, annual, FY2022–FY2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mFY2026at FY2025at FY2024at FY2023at FY2022at
Current liabilities3,3362,9063,5762,2222,886
Total debt7,137 D6,857 D7,184 D4,689 D4,810 D
Total liabilities11,49210,99211,4398,3958,559
Shareholders' equity3,8503,9023,7943,6613,331
Net debt / (net cash)6,743 D6,725 D7,076 D4,500 D4,701 D
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Quarterly

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Table 5 Campbell's assets, quarterly, Q1 FY2025–Q4 FY2026 (USD millions) USD millions
USD mQ4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at Q2 FY2025at Q1 FY2025at
Cash and short-term investments394402561168132143829808
Receivables517552671768541668711840
Inventory1,6121,4511,3601,5051,4241,2941,2881,413
Total current assets2,7202,5592,7302,5632,2322,2263,1813,137
PP&E (net)2,8682,7352,7512,7442,7672,6652,6372,684
Goodwill and intangibles9,519 D9,318 D9,327 D9,335 D9,347 D9,357 D9,523 D9,725 D
Total assets15,64815,14215,34815,17914,89614,82815,91016,112
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.

Totals may not add up because of rounding.

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Table 6 Campbell's liabilities and shareholders' equity, quarterly, Q1 FY2025–Q4 FY2026 (USD millions) USD millions · net cash shown as a negative net debt
USD mQ4 FY2026at Q3 FY2026at Q2 FY2026at Q1 FY2026at Q4 FY2025at Q3 FY2025at Q2 FY2025at Q1 FY2025at
Current liabilities3,3362,9542,6903,1302,9062,8493,4133,465
Total debt7,137 D7,010 D7,075 D6,972 D6,857 D6,896 D7,675 D7,917 D
Total liabilities11,49211,11211,34111,22010,99210,95611,99812,268
Shareholders' equity3,8504,0284,0053,9573,9023,8703,9103,842
Net debt / (net cash)6,743 D6,608 D6,514 D6,804 D6,725 D6,753 D6,846 D7,109 D
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Total debt = short-term debt + long-term debt, from the same filing.
  • D Net debt = total debt minus cash and short-term investments; a negative value is net cash.

Totals may not add up because of rounding.

Cash flow

Chart 2

Campbell's quarterly free cash flow, Q1 FY2025 to Q4 FY2026

USD m · quarters ended to

Free cash flow by quarter, from USD 115 m in Q1 FY2025 to USD 136 m in Q4 FY2026.0200400600136Q1FY25Q2Q3Q4Q1FY26Q2Q3Q4stockfactsheet.com
Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

Annual

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Table 7 Campbell's cash flow, annual, FY2022–FY2026 (USD millions) USD millions · outflows shown with a minus sign
USD mFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Cash from operations1,0391,1311,1851,1431,181
Capital expenditure−361−426−517−370−242
Free cash flow678 D705 D668 D773 D939 D
Dividends paid−470−459−445−447−451
Share buybacks−26−62−67−142−167
Cash from investing−357−187−3,128−340−230
Cash from financing−419−9191,863−723−910
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Quarterly

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Table 8 Campbell's cash flow, quarterly, Q1 FY2025–Q4 FY2026 (USD millions) USD millions · outflows shown with a minus sign
USD mQ4 FY2026ended Q3 FY2026ended Q2 FY2026ended Q1 FY2026ended Q4 FY2025ended Q3 FY2025ended Q2 FY2025ended Q1 FY2025ended
Cash from operations200 D99 D516 D224259 D135 D512 D225
Capital expenditure−64 D−70 D−100 D−127−130 D−85 D−101 D−110
Free cash flow136 D29 D416 D97 D129 D50 D411 D115 D
Dividends paid−116 D−117 D−117 D−120−116 D−116 D−111 D−116
Share buybacks0 D0 D−2 D−24−2 D−4 D−2 D−54
Cash from investing−59 D−64 D−97 D−137−107 D95 D−128 D−47
Cash from financing−147 D−194 D−27 D−51−164 D−915 D−363 D523
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

  • D Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
  • D Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • D Free cash flow = cash from operations minus capital expenditure.

Totals may not add up because of rounding.

Per share and dividends

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Table 9 Campbell's per-share data and dividends, annual, FY2022–FY2026 USD per share, split-adjusted · shares in millions
USDFY2026ended FY2025ended FY2024ended FY2023ended FY2022ended
Basic EPS (USD)1.342.021.902.872.51
Diluted EPS (USD)1.312.011.892.852.51
Dividends declared per share (USD)1.561.541.481.481.48
Diluted shares (m)300300300301302
FCF cover (×)1.4×1.5×1.5×1.7×2.1×
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Source: Campbell's Forms 10-Q and 10-K, SEC EDGAR Data as of

Notes on these figures

  • R Restated
    • None in the periods shown.
  • D Derived by StockFactsheet
    • Combined from line items reported in the same filing (see Methodology).
    • Combined from line items reported in the same filing (see Methodology).
    • Net interest = interest income − interest expense, both from the same filing.
    • Fourth quarter derived as the fiscal year minus the nine-month year-to-date total.
    • Goodwill plus the intangible assets the filing reports under the standard intangible-asset tags or the components our mapping lists for the company, from the same filing. Intangible assets a company shows on separate balance sheet lines under other tags, such as licences, may not be included, so for some companies this line is goodwill alone; the lines included can change when the company changes its balance sheet.
    • Total debt = short-term debt + long-term debt, from the same filing.
    • Net debt = total debt minus cash and short-term investments; a negative value is net cash.
    • Free cash flow = cash from operations minus capital expenditure.
    • Quarter derived from year-to-date totals: the six- or nine-month figure minus the earlier quarters.
  • Template: standard statement set (not bank or insurer).
  • Arrows show direction of change only, not whether a change is good or bad.

How we got these numbers

Every figure comes from Campbell's's Forms 10-Q and 10-K as filed with the SEC. Derived values are marked D and explained below.

Full method for this page
Source documents
Forms 10-Q (Q1 FY2025 to Q4 FY2026) and 10-K (FY2022 to FY2026)
Period covered
8 quarters and 5 fiscal years
Calculations
TTM = sum of the last 4 quarters. Q4 = fiscal year minus the nine-month YTD. Margins = line item ÷ revenue. FCF = cash from operations − capital expenditure. CAGR = compound annual growth across the annual table.
Restatements
None in the periods shown.
Comparator
None: this page shows the company's own figures only.
Currency
As reported (USD); no FX conversion.
Read the full methodology

CSV downloads

One file per statement, with the annual and quarterly figures on this page in full units.

Sources and data

Data as of Figures are as reported in the filings below. Derived figures are our calculations (see Methodology).

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  1. [1] Filing Form 10-K, fiscal year ended 2 Aug 2026 The Campbell's Company · · sec.gov
  2. [2] Filing Form 10-Q, quarter ended 3 May 2026 The Campbell's Company · · sec.gov
  3. [3] Filing Form 10-Q, quarter ended 1 Feb 2026 The Campbell's Company · · sec.gov
  4. [4] Filing Form 10-Q, quarter ended 2 Nov 2025 The Campbell's Company · · sec.gov
  5. [5] Filing Form 10-K, fiscal year ended 3 Aug 2025 The Campbell's Company · · sec.gov
  6. [6] Filing Form 10-Q, quarter ended 27 Apr 2025 The Campbell's Company · · sec.gov
  7. [7] Filing Form 10-Q, quarter ended 26 Jan 2025 The Campbell's Company · · sec.gov
  8. [8] Filing Form 10-Q, quarter ended 27 Oct 2024 The Campbell's Company · · sec.gov
  9. [9] Filing Form 10-K, fiscal year ended 28 Jul 2024 The Campbell's Company · · sec.gov
  10. [10] Filing Form 10-K, fiscal year ended 30 Jul 2023 The Campbell's Company · · sec.gov
  11. [11] Filing Form 10-K, fiscal year ended 31 Jul 2022 The Campbell's Company · · sec.gov
  12. [12] Filing Form 10-Q, quarter ended 28 Apr 2024 The Campbell's Company · · sec.gov
  13. [13] Filing Form 10-Q, quarter ended 28 Jan 2024 The Campbell's Company · · sec.gov
  14. [14] Filing Form 10-Q, quarter ended 29 Oct 2023 The Campbell's Company · · sec.gov
  15. [15] Filing Form 10-K, fiscal year ended 1 Aug 2021 The Campbell's Company · · sec.gov
  16. [16] Our dataset StockFactsheet fundamentals dataset, extracted from SEC EDGAR XBRL on ; derived values (Q4, TTM, free cash flow, net debt, margins, growth rates and ratios) are explained in Methodology.

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StockFactsheet (2026). "Campbell's (CPB) financial statements: income, balance sheet and cash flow." Signed off by OffScriptBySami. Updated ; data as of . https://stockfactsheet.com/stocks/cpb/financials/

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