PILGRIMS PRIDE CORP
PPCdata completeness 100%17 fiscal years on filePILGRIMS PRIDE CORP earns about 22% on invested capital, far above its ~9% cost of capital, and has bought back 2% of its shares over 5 years — the marks of a durable business run for its owners. The estimate methods put fair value between $32.42 and $166.05 a share.Whether it’s worth owning at today’s price is the last question — and yours to answer, below.
| Figure | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|
| Revenue | $14.8B1 | $17.5B2 | $17.4B3 | $17.9B3 | $18.5B3 |
| Net income | $31M4 | $745.9M5 | $321.6M6 | $1.09B6 | $1.08B6 |
| Operating cash flow | $326.5M7 | $669.9M8 | $677.9M9 | $1.99B9 | $1.37B9 |
| Capital expenditure | $381.7M10 | $487.1M11 | $557.8M12 | $458.5M13 | $718.5M13 |
| Free cash flow (derived) | −$55.2M7 | $182.8M8 | $120.1M9 | $1.53B9 | $653.2M9 |
| Total debt | $26.2M14 | $26.3M15 | $3.34B16 | $3.21B16 | $924,00017 |
| Cash & equivalents | $427.7M18 | $401M19 | $697.7M20 | $2.04B21 | $640.2M21 |
| Diluted shares | 244.1M | 240.4M | 237.3M | 237.8M | 238.4M |
Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom).
10 shares is a claim on $154.33 of net worth that earned you $45.39 and generated $27.39 of cash last year, against $0.04 of debt.
It earned about 22% on invested capital, year after year, against a ~9% cost of capital — the footprint of real pricing power. Competition usually drags returns like this back down; here it hasn't.
seeing a moat in the numbers →Share count is down 2% over 5 years — management has been buying back stock, quietly handing owners a bigger slice. Total debt has fallen 96% — deleveraging.
reading capital allocation →Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.
The 3 estimate methods that apply put fair value between $32.42 and $166.05 a share. They rest on different assumptions, so where they diverge is the story; the Graham Number is a stricter floor, not a target.
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears10
- fcfGrowth20.0%
- fcfBase$653.2M
assumptions (10)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- terminalGrowth2.5%
- projectionYears5
- fcfGrowth20.0%
- fcfBase$653.2M
assumptions (8)
- riskFreeRate4.7%
- equityRiskPremium5.0%
- beta100.0%
- equityWeight85.0%
- costOfDebtSpread1.5%
- taxRate21.0%
- normalizedEarnings$745.9M
- growthAssumed0.0%
assumptions (1)
- grahamMultiplier2250.0%
Different models answer different questions — which to trust when →
| Bear | 0.0% | $41.82 |
| Base | 20.0% | $91.99 |
| Bull | 20.0% | $91.99 |
Bear/base/bull growth = 0% / filed history / history + 5pp. Type a price to see the return each case implies.
Default growth 20.0%= this company’s own filed history (median-to-median FCF CAGR, clamped 0–20%). Your adjustments are recorded anonymously. They become the “what do owners actually believe” dataset.
- 10-K · period ending 2021-12-26 · accession 0000802481-24-000015 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2022-12-25 · accession 0000802481-25-000011 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2023-12-31 · accession 0000802481-26-000011 (RevenueFromContractWithCustomerExcludingAssessedTax)
- 10-K · period ending 2021-12-26 · accession 0000802481-24-000015 (NetIncomeLoss)
- 10-K · period ending 2022-12-25 · accession 0000802481-25-000011 (NetIncomeLoss)
- 10-K · period ending 2023-12-31 · accession 0000802481-26-000011 (NetIncomeLoss)
- 10-K · period ending 2021-12-26 · accession 0000802481-24-000015 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2022-12-25 · accession 0000802481-25-000011 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2023-12-31 · accession 0000802481-26-000011 (NetCashProvidedByUsedInOperatingActivities)
- 10-K · period ending 2021-12-26 · accession 0000802481-23-000013 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2022-12-25 · accession 0000802481-24-000015 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2023-12-31 · accession 0000802481-25-000011 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2024-12-29 · accession 0000802481-26-000011 (PaymentsToAcquirePropertyPlantAndEquipment)
- 10-K · period ending 2021-12-26 · accession 0000802481-23-000013 (LongTermDebtCurrent)
- 10-K · period ending 2022-12-25 · accession 0000802481-24-000015 (LongTermDebtCurrent)
- 10-K · period ending 2023-12-31 · accession 0000802481-25-000011 (LongTermDebtNoncurrent)
- 10-K · period ending 2025-12-28 · accession 0000802481-26-000011 (LongTermDebtCurrent)
- 10-K · period ending 2021-12-26 · accession 0000802481-23-000013 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2022-12-25 · accession 0000802481-24-000015 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2023-12-31 · accession 0000802481-25-000011 (CashAndCashEquivalentsAtCarryingValue)
- 10-K · period ending 2024-12-29 · accession 0000802481-26-000011 (CashAndCashEquivalentsAtCarryingValue)