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Seneca Foods Corporation ( Seneca or the Company ) was founded in 1949 and has evolved through internal growth and strategic acquisitions into a leading provider of packaged fruits and vegetables, with 26 main facilities located throughout the United States. The facilities are comprised of plants for packaging, can manufacturing, seed production, a farming operation and a logistical support net…
Operating margin is thin at 4.93%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 8.2%, steady but not accelerating. Margins contracted 2.4pp, which offsets some of the top-line progress.
ROIC dropped from 7.62% to 5.47%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$1.61B
▲ +8.2% YoY
Net Income (TTM)
$90M
▼ -34.9% YoY
Op. Margin
7.86%
▼ -2.4pp YoY
ROIC
9.52%
▼ -2.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$168M
▲ +349.4% YoY
Op. Cash Flow (TTM)
$206M
▲ +504.4% YoY
Net Debt
$285M
Cash & Equiv.
$33M
5Y CAGR: +3.4%
5Y CAGR: +37.1%
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