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The terms B&G Foods, our, we and us, as used in this report, refer to B&G Foods, Inc. and its wholly owned subsidiaries, except where it is clear that the term refers only to the parent company. Throughout this report, we refer to our fiscal years ended December 30, 2023, December 28, 2024, January 3, 2026 and January 2, 2027 as fiscal 2023, fiscal 2024, fiscal 2025 and fiscal 2026, respectively.
Operating margin is thin at 5.31%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 5.4% YoY. The question is whether this is cyclical or a structural shift.
Free cash flow declined 32% versus the prior year, cash generation momentum has weakened. Net debt of $1.95B represents 27.5x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
$1.81B
▼ -5.4% YoY
Net Income (TTM)
-$77M
▲ +82.8% YoY
Op. Margin
2.78%
▲ +14.5pp YoY
ROIC
1.59%
▲ +8.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$47M
▼ -31.7% YoY
Op. Cash Flow (TTM)
$72M
▼ -22.5% YoY
Net Debt
$1.99B
Cash & Equiv.
$65M
5Y CAGR: -1.5%
5Y CAGR: -22.6%
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