Hormel Foods
Hormel Foods returns on capital
Annual and trailing 12-month returns on invested capital, equity and assets.
ROIC
% · Annual / TTM
ROCE
% · Annual / TTM
ROIIC
% · Annual / TTM
ROE
% · Annual / TTM
ROA
% · Annual / TTM
ROIC − WACC
Percentage points · Scenario
Quarterly data
| Fiscal period | Ended | ROIC% | ROCE% | ROIIC% | ROE% | ROA% | ROIC − WACCPercentage points |
|---|---|---|---|---|---|---|---|
| FY 2026 Q3 | Jul 26, 2026 | 3.72% | 4.87% | — | 4.3% | 2.56% | -4 pp |
| FY 2026 Q2 | Apr 26, 2026 | 4.95% | 5.95% | — | 5.84% | 3.49% | -2.8 pp |
| FY 2026 Q1 | Jan 25, 2026 | 5.28% | 6.09% | — | 6.13% | 3.66% | -2.4 pp |
| FY 2025 Q4 | Oct 26, 2025 | 5.12% | 5.98% | — | 6.02% | 3.56% | -2.6 pp |
| FY 2025 Q3 | Jul 27, 2025 | 7.69% | 8.44% | -15.47% | 9.46% | 5.67% | -0 pp |
| FY 2025 Q2 | Apr 27, 2025 | 7.72% | 8.43% | -84.35% | 9.39% | 5.43% | 0 pp |
| FY 2025 Q1 | Jan 26, 2025 | 7.81% | 8.68% | — | 9.54% | 5.62% | 0.1 pp |
| FY 2024 Q4 | Oct 27, 2024 | 8.12% | 9.22% | — | 10.24% | 5.99% | 0.4 pp |
| FY 2024 Q3 | Jul 28, 2024 | 7.91% | 9.11% | — | 10.02% | 5.88% | 0.2 pp |
| FY 2024 Q2 | Apr 28, 2024 | 7.73% | 8.59% | — | 9.85% | 5.59% | 0 pp |
| FY 2024 Q1 | Jan 28, 2024 | 8.11% | 9.21% | — | 10.28% | 5.93% | 0.4 pp |
| FY 2023 Q4 | Oct 29, 2023 | 8.32% | 9.33% | -41.49% | 10.39% | 5.93% | 0.6 pp |
| FY 2023 Q3 | Jul 30, 2023 | 9.04% | 10.24% | -21.26% | 11.64% | 6.61% | 1.3 pp |
| FY 2023 Q2 | Apr 30, 2023 | 9.52% | 10.51% | -3.94% | 12.43% | 7.06% | 1.8 pp |
| FY 2023 Q1 | Jan 29, 2023 | 10.07% | 11% | 8.84% | 13.29% | 7.49% | 2.4 pp |
| FY 2022 Q4 | Oct 30, 2022 | 10.51% | 11.36% | 71.7% | 13.79% | 7.69% | 2.8 pp |
| FY 2022 Q3 | Jul 31, 2022 | 10.44% | 11.43% | — | 14.16% | 7.87% | 2.7 pp |
| FY 2022 Q2 | May 1, 2022 | 12.29% | 11.98% | 3.35% | 13.67% | 8.34% | 4.6 pp |
| FY 2022 Q1 | Jan 30, 2022 | 11.96% | 11.77% | 1.8% | 13.57% | 8.13% | 4.3 pp |
| FY 2021 Q4 | Oct 31, 2021 | 11.54% | 11.41% | 0.27% | 13.57% | 8.04% | 3.8 pp |
| FY 2021 Q3 | Jul 25, 2021 | 10.88% | 10.82% | -1.62% | 13.2% | 7.86% | 3.2 pp |
| FY 2021 Q2 | Apr 25, 2021 | 14.31% | 13.73% | -12.38% | 13.8% | 9.71% | 6.6 pp |
| FY 2021 Q1 | Jan 24, 2021 | 14.86% | 13.76% | -20.52% | 14.04% | 9.73% | 7.2 pp |
| FY 2020 Q4 | Oct 25, 2020 | 15.56% | 14.28% | -13.88% | 14.71% | 10.08% | 7.9 pp |
| FY 2020 Q3 | Jul 26, 2020 | — | 15.2% | — | 15.29% | 10.59% | — |
| FY 2020 Q2 | Apr 26, 2020 | — | 16.5% | — | 15.35% | 11.34% | — |
| FY 2020 Q1 | Jan 26, 2020 | 16.72% | 16.74% | — | 16.62% | 11.92% | 9 pp |
| FY 2019 Q4 | Oct 27, 2019 | 17.18% | 17.08% | — | 16.99% | 12.05% | 9.5 pp |
| FY 2019 Q3 | Jul 28, 2019 | — | 17.54% | — | 17.46% | 12.43% | — |
| FY 2019 Q2 | Apr 28, 2019 | — | 17.76% | — | 17.8% | 12.63% | — |
| FY 2019 Q1 | Jan 27, 2019 | — | 18.09% | — | 17.52% | 11.87% | — |
| FY 2018 Q4 | Oct 28, 2018 | 19.55% | 18.56% | 17.5% | 19.21% | 13.39% | 11.8 pp |
| FY 2018 Q3 | Jul 29, 2018 | — | 19.37% | — | 19.11% | 13.45% | — |
| FY 2018 Q2 | Apr 29, 2018 | — | 19.96% | — | 18.88% | 13.24% | — |
| FY 2018 Q1 | Jan 28, 2018 | — | 20.56% | — | 18.81% | 12.86% | — |
| FY 2017 Q4 | Oct 29, 2017 | — | 22.8% | — | 18.05% | 12.69% | — |
| FY 2017 Q3 | Jul 30, 2017 | — | 24.19% | — | 19.09% | 13.53% | — |
| FY 2017 Q2 | Apr 30, 2017 | — | 24.44% | — | 19.7% | 14.18% | — |
| FY 2017 Q1 | Jan 29, 2017 | — | 25.22% | — | 20.39% | 14.35% | — |
| FY 2016 Q4 | Oct 30, 2016 | — | 25.85% | — | 21.08% | 14.23% | — |
| FY 2016 Q3 | Jul 24, 2016 | — | 24.4% | — | 20.02% | 13.36% | — |
| FY 2016 Q2 | Apr 24, 2016 | — | 24.08% | — | 19.26% | 13.37% | — |
| FY 2016 Q1 | Jan 24, 2016 | — | 24.02% | — | 19% | 12.92% | — |
| FY 2015 Q4 | Oct 25, 2015 | — | 22.64% | — | 18.05% | 11.83% | — |
| FY 2015 Q3 | Jul 26, 2015 | — | 22.95% | — | 17.86% | 11.88% | — |
| FY 2015 Q2 | Apr 26, 2015 | — | 23.1% | — | 18% | 12.35% | — |
| FY 2015 Q1 | Jan 25, 2015 | — | 22.23% | — | 17.39% | 11.69% | — |
| FY 2014 Q4 | Oct 26, 2014 | — | 22.28% | — | 17.43% | 11.62% | — |
| FY 2014 Q3 | Jul 27, 2014 | — | 21.88% | — | 17.8% | 11.83% | — |
| FY 2014 Q2 | Apr 27, 2014 | — | 21.1% | — | 17.32% | 11.57% | — |
| FY 2014 Q1 | Jan 26, 2014 | — | 20.85% | — | 17.33% | 11.35% | — |
| FY 2013 Q4 | Oct 27, 2013 | — | 20.38% | — | 17.17% | 11.1% | — |
| FY 2013 Q3 | Jul 28, 2013 | — | 20.35% | — | 16.9% | 10.97% | — |
| FY 2013 Q2 | Apr 28, 2013 | — | 20.24% | — | 17.18% | 11.11% | — |
| FY 2013 Q1 | Jan 27, 2013 | — | 20.52% | — | 17.71% | 11.3% | — |
| FY 2012 Q4 | Oct 28, 2012 | — | 21.57% | — | 18.26% | 11.35% | — |
| FY 2012 Q3 | Jul 29, 2012 | — | 20.59% | — | 17.47% | 11.44% | — |
| FY 2012 Q2 | Apr 29, 2012 | — | 20.09% | — | 17.36% | 10.84% | — |
| FY 2012 Q1 | Jan 29, 2012 | — | 20.55% | — | 17.18% | 10.86% | — |
| FY 2011 Q4 | Oct 30, 2011 | — | 22.42% | — | 18.75% | 11.55% | — |
| FY 2011 Q3 | Jul 31, 2011 | 20.43% | 22.99% | — | 19.26% | 12% | 12.7 pp |
| FY 2011 Q2 | May 1, 2011 | — | — | — | — | — | — |
| FY 2011 Q1 | Jan 30, 2011 | — | — | — | — | — | — |
| FY 2010 Q4 | Oct 31, 2010 | — | — | — | — | — | — |
| FY 2010 Q3 | Jul 25, 2010 | — | — | — | — | — | — |
Sources and calculations
Financial inputs from company filings. Last checked Oct 18, 2026. A dash means missing inputs or an undefined calculation.
Period changes use the preceding fiscal quarter or year. Percentage changes divide by the absolute prior value; a zero or missing baseline has no percentage change. Percentage metrics show changes in percentage points.
Quarterly returns use trailing 12-month earnings and period-end balances averaged with the same fiscal quarter one year earlier. NOPAT uses the reported effective tax rate only when pretax profit is positive and the rate is between 0 and 100%. WACC starts at 7.7%, rounded from the US nonfinancial market · generic proxy benchmark in NYU Stern · January 2026. It is an editable US sector proxy applied across history, not a company estimate; foreign reporting currencies also need a currency-specific assessment.
Market prices: Yahoo Finance · HRL, USD. Latest completed close Sep 25, 2026. Price data retrieved Sep 28, 2026.
- ROIC
- NOPAT / average invested capital × 100. NOPAT = operating income × (1 − effective tax rate). Invested capital = equity including noncontrolling interests + debt − cash and equivalents. Average uses period end and one year earlier.
- ROCE
- Operating income / average (assets − current liabilities) × 100, using period end and one year earlier.
- ROIIC
- Year-over-year change in annual/TTM NOPAT / positive year-over-year change in invested capital × 100. Capital reductions and missing inputs yield unavailable values.
- ROE
- Earnings attributable to owners / average equity attributable to owners × 100, using period end and one year earlier.
- ROA
- Net income / average total assets × 100, using period end and one year earlier.
- ROIC − WACC
- ROIC less your WACC assumption, in percentage points. The same scenario rate is applied across history; it is not a reported or historical company WACC.