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Cal-Maine Foods

Nasdaq:CALM
Snowflake Description

Flawless balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CALM
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Food, Beverage & Tobacco
Company description

Cal-Maine Foods, Inc. produces, grades, packages, markets, and distributes shell eggs. The last earnings update was 84 days ago. More info.


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CALM Share Price and Events
7 Day Returns
-1.5%
NasdaqGS:CALM
-0.5%
US Food
2%
US Market
1 Year Returns
-21%
NasdaqGS:CALM
-0.2%
US Food
4.3%
US Market
CALM Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cal-Maine Foods (CALM) -1.5% 1.8% -8.9% -21% -3.5% 8.4%
US Food -0.5% 2.8% 4.9% -0.2% -10.7% 23.2%
US Market 2% 4.1% 4.2% 4.3% 43.9% 40.8%
1 Year Return vs Industry and Market
  • CALM underperformed the Food industry which returned -0.2% over the past year.
  • CALM underperformed the Market in United States of America which returned 4.3% over the past year.
Price Volatility
CALM
Industry
5yr Volatility vs Market

CALM Value

 Is Cal-Maine Foods undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cal-Maine Foods to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cal-Maine Foods.

NasdaqGS:CALM Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGS:CALM
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Food Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.546 (1 + (1- 21%) (0.16%))
0.696
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for NasdaqGS:CALM using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Cal-Maine Foods is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NasdaqGS:CALM DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.5%)
2019 84.84 Est @ -9.34% 78.93
2020 79.99 Est @ -5.72% 69.22
2021 77.45 Est @ -3.18% 62.35
2022 76.36 Est @ -1.41% 57.18
2023 76.23 Est @ -0.17% 53.10
2024 76.77 Est @ 0.7% 49.75
2025 77.77 Est @ 1.31% 46.88
2026 79.12 Est @ 1.74% 44.37
2027 80.73 Est @ 2.03% 42.12
2028 82.54 Est @ 2.24% 40.06
Present value of next 10 years cash flows $543.96
NasdaqGS:CALM DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $82.54 × (1 + 2.73%) ÷ (7.5% – 2.73%)
$1,778.46
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $1,778.46 ÷ (1 + 7.5%)10
$863.06
NasdaqGS:CALM Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $543.96 + $863.06
$1,407.02
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $1,407.02 / 48.69
$28.89
NasdaqGS:CALM Discount to Share Price
Calculation Result
Value per share (USD) From above. $28.89
Current discount Discount to share price of $40.29
= -1 x ($40.29 - $28.89) / $28.89
-39.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Cal-Maine Foods is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cal-Maine Foods's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cal-Maine Foods's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGS:CALM PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-02) in USD $3.01
NasdaqGS:CALM Share Price ** NasdaqGS (2019-06-24) in USD $40.29
United States of America Food Industry PE Ratio Median Figure of 43 Publicly-Listed Food Companies 24.87x
United States of America Market PE Ratio Median Figure of 3,095 Publicly-Listed Companies 17.88x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cal-Maine Foods.

NasdaqGS:CALM PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:CALM Share Price ÷ EPS (both in USD)

= 40.29 ÷ 3.01

13.38x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cal-Maine Foods is good value based on earnings compared to the US Food industry average.
  • Cal-Maine Foods is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Cal-Maine Foods's expected growth come at a high price?
Raw Data
NasdaqGS:CALM PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 13.38x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
-58.5%per year
United States of America Food Industry PEG Ratio Median Figure of 31 Publicly-Listed Food Companies 1.55x
United States of America Market PEG Ratio Median Figure of 2,134 Publicly-Listed Companies 1.54x

*Line of best fit is calculated by linear regression .

NasdaqGS:CALM PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 13.38x ÷ -58.5%

-0.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cal-Maine Foods earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Cal-Maine Foods's assets?
Raw Data
NasdaqGS:CALM PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-02) in USD $20.64
NasdaqGS:CALM Share Price * NasdaqGS (2019-06-24) in USD $40.29
United States of America Food Industry PB Ratio Median Figure of 70 Publicly-Listed Food Companies 1.92x
United States of America Market PB Ratio Median Figure of 5,255 Publicly-Listed Companies 1.8x
NasdaqGS:CALM PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:CALM Share Price ÷ Book Value per Share (both in USD)

= 40.29 ÷ 20.64

1.95x

* Primary Listing of Cal-Maine Foods.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cal-Maine Foods is overvalued based on assets compared to the US Food industry average.
X
Value checks
We assess Cal-Maine Foods's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Cal-Maine Foods has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CALM Future Performance

 How is Cal-Maine Foods expected to perform in the next 1 to 3 years based on estimates from 2 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-58.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cal-Maine Foods expected to grow at an attractive rate?
  • Cal-Maine Foods's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Cal-Maine Foods's earnings are expected to decrease over the next 1-3 years, this is below the United States of America market average.
  • Cal-Maine Foods's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NasdaqGS:CALM Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGS:CALM Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts -58.5%
NasdaqGS:CALM Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 0.2%
United States of America Food Industry Earnings Growth Rate Market Cap Weighted Average 21.1%
United States of America Food Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGS:CALM Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGS:CALM Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-05-31 1,490 1
2020-05-31 1,388 85 58 2
2019-05-31 1,395 93 69 2
NasdaqGS:CALM Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-02 1,524 149 146
2018-12-01 1,576 163 202
2018-09-01 1,581 243 154
2018-06-02 1,503 200 126
2018-03-03 1,334 157 30
2017-12-02 1,205 89 -62
2017-09-02 1,098 -22 -59
2017-06-03 1,075 -46 -74
2017-02-25 1,103 -8 -50
2016-11-26 1,246 11 10
2016-08-27 1,539 182 142
2016-05-28 1,909 388 316

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cal-Maine Foods's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Cal-Maine Foods's revenue is expected to grow by 0.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGS:CALM Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Cal-Maine Foods Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CALM Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-05-31
2020-05-31 1.19 1.19 1.19 1.00
2019-05-31 1.43 1.43 1.43 1.00
NasdaqGS:CALM Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-02 3.01
2018-12-01 4.18
2018-09-01 3.19
2018-06-02 2.60
2018-03-03 0.61
2017-12-02 -1.29
2017-09-02 -1.23
2017-06-03 -1.54
2017-02-25 -1.04
2016-11-26 0.20
2016-08-27 2.95
2016-05-28 6.56

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Cal-Maine Foods will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Cal-Maine Foods's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cal-Maine Foods has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CALM Past Performance

  How has Cal-Maine Foods performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cal-Maine Foods's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cal-Maine Foods's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Cal-Maine Foods's 1-year earnings growth exceeds its 5-year average (408.2% vs -13.7%)
  • Cal-Maine Foods's earnings growth has exceeded the US Food industry average in the past year (408.2% vs -19.7%).
Earnings and Revenue History
Cal-Maine Foods's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cal-Maine Foods Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGS:CALM Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-02 1,523.71 145.76 181.60
2018-12-01 1,575.54 202.27 180.77
2018-09-01 1,580.67 154.33 179.95
2018-06-02 1,502.93 125.93 177.15
2018-03-03 1,334.42 29.69 176.04
2017-12-02 1,205.14 -62.46 175.60
2017-09-02 1,097.51 -59.34 175.43
2017-06-03 1,074.51 -74.28 173.98
2017-02-25 1,102.95 -50.18 168.39
2016-11-26 1,246.17 9.84 171.61
2016-08-27 1,538.60 142.08 175.05
2016-05-28 1,908.65 316.04 177.76
2016-02-27 2,008.64 362.53 177.96
2015-11-28 1,996.44 349.25 171.50
2015-08-29 1,829.08 276.62 163.17
2015-05-30 1,576.13 161.25 160.39
2015-02-28 1,544.70 146.63 159.15
2014-11-29 1,502.67 138.60 161.75
2014-08-30 1,478.32 128.11 158.45
2014-05-31 1,440.91 109.21 152.35
2014-03-01 1,395.26 73.88 142.77
2013-11-30 1,360.11 61.58 135.81
2013-08-31 1,334.70 49.76 132.93
2013-06-01 1,288.10 50.42 128.21
2013-03-02 1,237.42 91.51 125.46
2012-12-01 1,180.70 87.06 119.53
2012-09-01 1,142.20 96.03 114.42

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cal-Maine Foods has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cal-Maine Foods used its assets more efficiently than the US Food industry average last year based on Return on Assets.
  • Cal-Maine Foods's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Cal-Maine Foods's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cal-Maine Foods has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CALM Health

 How is Cal-Maine Foods's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cal-Maine Foods's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cal-Maine Foods is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cal-Maine Foods's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Cal-Maine Foods's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 197.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cal-Maine Foods Company Filings, last reported 3 months ago.

NasdaqGS:CALM Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-02 1,008.04 3.12 341.85
2018-12-01 980.63 3.91 298.28
2018-09-01 965.56 4.77 321.41
2018-06-02 955.68 6.09 331.02
2018-03-03 899.66 7.28 283.45
2017-12-02 803.95 8.52 209.30
2017-09-02 829.47 9.73 125.97
2017-06-03 844.49 10.94 156.03
2017-02-25 868.36 22.75 189.58
2016-11-26 864.92 22.51 197.90
2016-08-27 887.43 24.04 306.85
2016-05-28 917.36 25.57 389.55
2016-02-27 916.02 27.24 387.05
2015-11-28 875.15 28.77 420.33
2015-08-29 801.53 42.55 355.85
2015-05-30 704.56 50.86 258.63
2015-02-28 672.93 53.37 237.84
2014-11-29 638.66 55.89 201.42
2014-08-30 613.80 58.47 210.98
2014-05-31 594.75 61.09 209.26
2014-03-01 572.86 63.96 190.65
2013-11-30 543.52 59.37 161.95
2013-08-31 525.67 62.29 164.23
2013-06-01 518.04 65.02 182.89
2013-03-02 521.33 67.75 187.17
2012-12-01 500.40 70.47 163.08
2012-09-01 485.95 73.49 209.27
  • Cal-Maine Foods's level of debt (0.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (11.1% vs 0.3% today).
  • Debt is well covered by operating cash flow (4772.1%, greater than 20% of total debt).
  • Cal-Maine Foods earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Cal-Maine Foods's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cal-Maine Foods has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CALM Dividends

 What is Cal-Maine Foods's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.84%
Current annual income from Cal-Maine Foods dividends. Estimated to be 0.83% next year.
If you bought $2,000 of Cal-Maine Foods shares you are expected to receive $17 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Cal-Maine Foods's pays a lower dividend yield than the bottom 25% of dividend payers in United States of America (1.44%).
  • Cal-Maine Foods's dividend is below the markets top 25% of dividend payers in United States of America (3.73%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGS:CALM Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
United States of America Food Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 2.7%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2012 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGS:CALM Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-05-31 0.47 1.00
2020-05-31 0.20 1.00
2019-05-31 0.86 1.00
NasdaqGS:CALM Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-10-01 0.340 0.781
2018-07-23 1.404 2.917
2018-01-05 0.000 0.000
2017-10-02 0.000 0.000
2017-07-24 0.000 0.000
2017-03-27 0.000 0.000
2016-12-22 0.000 0.000
2016-09-26 0.000 0.000
2016-07-18 0.000 0.000
2015-07-20 1.110 2.205
2014-07-28 0.727 1.726
2014-03-31 1.182 3.500
2013-10-03 0.136 0.506
2013-09-30 0.136 0.566
2013-08-05 0.000 0.000
2013-07-29 0.000 0.000
2012-10-01 0.260 1.191
2012-07-30 1.040 5.147
2012-03-26 0.728 3.929
2011-12-27 0.650 3.369
2011-09-26 0.088 0.533
2011-07-25 0.204 1.283
2011-03-28 0.940 6.334
2010-12-27 0.424 2.958
2010-09-27 0.134 0.895
2010-07-26 0.580 3.796
2010-03-29 0.960 5.774
2009-12-28 0.344 2.034
2009-09-29 0.000 0.000
2009-09-28 0.000 0.000
2009-07-27 0.288 2.002

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Cal-Maine Foods's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.5x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.5x coverage).
X
Income/ dividend checks
We assess Cal-Maine Foods's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cal-Maine Foods afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cal-Maine Foods has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CALM Management

 What is the CEO of Cal-Maine Foods's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Dolph Baker
COMPENSATION $1,282,377
AGE 61
TENURE AS CEO 8.7 years
CEO Bio

Mr. Adolphus B. Baker, also known as Dolph, has been the Chief Executive Officer of Cal-Maine Foods, Inc. since October 2010 and served as its President from January 1997 to 2018. Mr. Baker is a Partner at Phelps Dunbar L.L.P. He served as a Vice President and Director of Marketing at Cal-Maine Foods Inc. He served as the Chief Operating Officer of Cal-Maine Foods, Inc. from January 1997 to October 2010. He served as an Assistant to the President since 1987 and has been employed by Cal-Maine Foods Inc., since 1986. He has been the Chairman of Cal-Maine Foods, Inc. since July 27, 2012. He has been an Independent Director of Trustmark Corporation since 2007. He serves as Director of Trustmark National Bank, a subsidiary of Trustmark Corporation. He has been an Independent Director of Cal-Maine Foods Inc. since 1991. He is a Member of the American Egg Board Executive Committee. He served as the Chairman of American Egg Board, United Egg Producers, Egg Clearinghouse Inc., and Mississippi Poultry Association. Mr. Baker holds a Degree in Business Administration from Mississippi State University.

CEO Compensation
  • Dolph's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dolph's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Cal-Maine Foods management team in years:

7.5
Average Tenure
58
Average Age
  • The average tenure for the Cal-Maine Foods management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Dolph Baker

TITLE
Chairman & CEO
COMPENSATION
$1M
AGE
61
TENURE
8.7 yrs

Sherman Miller

TITLE
President
COMPENSATION
$579K
AGE
43
TENURE
1.3 yrs

Rob Holladay

TITLE
VP & General Counsel
COMPENSATION
$522K
AGE
42
TENURE
7.5 yrs

Charles Hardin

TITLE
Vice President of Sales
COMPENSATION
$555K
AGE
59
TENURE
17.4 yrs

Max Bowman

TITLE
VP, CFO
AGE
57
TENURE
0.7 yrs

Mike Castleberry

TITLE
VP & Controller
AGE
60
TENURE
5.4 yrs

Matthew Arrowsmith

TITLE
Vice President of Egg Sales
COMPENSATION
$454K

Jim Hull

TITLE
Vice President of Egg Products
COMPENSATION
$319K
TENURE
9.5 yrs
Board of Directors Tenure

Average tenure and age of the Cal-Maine Foods board of directors in years:

6.9
Average Tenure
66
Average Age
  • The tenure for the Cal-Maine Foods board of directors is about average.
Board of Directors

Dolph Baker

TITLE
Chairman & CEO
COMPENSATION
$1M
AGE
61
TENURE
6.9 yrs

Sherman Miller

TITLE
President
COMPENSATION
$579K
AGE
43
TENURE
6.9 yrs

Fred Adams

TITLE
Chairman Emeritus
COMPENSATION
$988K
AGE
86
TENURE
6.9 yrs

Max Bowman

TITLE
VP, CFO
AGE
57
TENURE
0.7 yrs

Mary Letitia Hughes

TITLE
Independent Director
COMPENSATION
$176K
AGE
66
TENURE
17.9 yrs

Jim Poole

TITLE
Independent Director
COMPENSATION
$170K
AGE
69
TENURE
14.7 yrs

Steve Sanders

TITLE
Independent Director
COMPENSATION
$170K
AGE
72
TENURE
9.9 yrs
Who owns this company?
Recent Insider Trading
  • Cal-Maine Foods individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
18. Apr 19 Sell Charles Hardin Individual 16. Apr 19 16. Apr 19 -800 $41.96 $-33,568
18. Apr 19 Sell Robert Holladay Individual 16. Apr 19 16. Apr 19 -1,200 $41.61 $-49,932
12. Apr 19 Sell James Poole Individual 11. Apr 19 11. Apr 19 -2,500 $42.76 $-106,900
12. Oct 18 Buy Max Bowman Individual 11. Oct 18 11. Oct 18 2,000 $45.51 $91,020
07. Aug 18 Sell Fred Adams Individual 06. Aug 18 06. Aug 18 -40,149 $44.95 $-1,804,698
06. Aug 18 Sell Fred Adams Individual 02. Aug 18 03. Aug 18 -114,851 $44.67 $-5,098,939
02. Aug 18 Sell Fred Adams Individual 31. Jul 18 01. Aug 18 -145,000 $44.93 $-6,465,500
X
Management checks
We assess Cal-Maine Foods's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cal-Maine Foods has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CALM News

Simply Wall St News

What To Know Before Buying Cal-Maine Foods, Inc. (NASDAQ:CALM) For Its Dividend

Cal-Maine Foods has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. … Cal-Maine Foods's dividend payments have fluctuated, so it hasn't grown 1.7% every year, but the CAGR is a useful rule of thumb for approximating the historical growth. … Strong earnings per share (EPS) growth might encourage our interest in the company despite fluctuating dividends, which is why it's great to see Cal-Maine Foods has grown its earnings per share at 23% per annum over the past five years. Earnings per share have rocketed in recent times, and we like that the company is retaining more than half of its earnings to reinvest. However, always remember that very few companies can grow at double digit rates forever. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

The Cal-Maine Foods (NASDAQ:CALM) Share Price Is Down 19% So Some Shareholders Are Getting Worried

During the last year Cal-Maine Foods saw its earnings per share increase strongly. … We'd be remiss not to mention the difference between Cal-Maine Foods's total shareholder return (TSR) and its share price return. … Its history of dividend payouts mean that Cal-Maine Foods's TSR, which was a 18% drop over the last year, was not as bad as the share price return.

Simply Wall St -

Is Cal-Maine Foods, Inc.'s (NASDAQ:CALM) P/E Ratio Really That Good?

We'll look at Cal-Maine Foods, Inc.'s (NASDAQ:CALM) P/E ratio and reflect on what it tells us about the company's share price. … Check out our latest analysis for Cal-Maine Foods How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for Cal-Maine Foods: P/E of 13.86 = $41.74 ÷ $3.01 (Based on the trailing twelve months to March 2019.) Is A High P/E Ratio Good?

Simply Wall St -

Who Has Been Selling Cal-Maine Foods, Inc. (NASDAQ:CALM) Shares?

So shareholders might well want to know whether insiders have been buying or selling shares in Cal-Maine Foods, Inc. … That means that an insider was selling shares at around the current price of US$42.84 … While we don't usually like to see insider selling, it's more concerning if the sales take price at a lower price

Simply Wall St -

Cal-Maine Foods, Inc. (NASDAQ:CALM) Delivered A Better ROE Than Its Industry

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … That means that for every $1 worth of shareholders' equity, it generated $0.15 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

What You Must Know About Cal-Maine Foods, Inc.'s (NASDAQ:CALM) Financial Health

Stocks with market capitalization between $2B and $10B, such as Cal-Maine Foods, Inc. … Don’t forget that this is a general and concentrated examination of Cal-Maine Foods's financial health, so you should conduct further analysis. … See our latest analysis for Cal-Maine Foods

Simply Wall St -

These Fundamentals Make Cal-Maine Foods, Inc. (NASDAQ:CALM) Truly Worth Looking At

Cal-Maine Foods, Inc. … (NASDAQ:CALM) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective.

Simply Wall St -

Can You Imagine How Cal-Maine Foods's Shareholders Feel About The 50% Share Price Increase?

To wit, the Cal-Maine Foods share price has climbed 50% in five years, easily topping the market return of 40% (ignoring dividends). … While markets are a powerful pricing mechanism, share prices reflect investor sentiment, not just underlying business performance. … During the five years of share price growth, Cal-Maine Foods moved from a loss to profitability.

Simply Wall St -

Here's What Cal-Maine Foods, Inc.'s (NASDAQ:CALM) ROCE Can Tell Us

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is Cal-Maine Foods, Inc.'s (NASDAQ:CALM) CEO Salary Justified?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Dolph Baker's Compensation Compare With Similar Sized Companies. … is worth US$2.1b, and total annual CEO compensation is US$1.3m.

Simply Wall St -

CALM Company Info

Description

Cal-Maine Foods, Inc. produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs, such as nutritionally enhanced, cage free, organic, and brown eggs under the Egg-Land’s Best, Land O’ Lakes, Farmhouse, and 4-Grain brand names, as well as under private labels. It sells its products to various customers, including national and regional grocery store chains, club stores, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, mid-western, and mid-Atlantic regions of the United States. The company was founded in 1957 and is based in Jackson, Mississippi.

Details
Name: Cal-Maine Foods, Inc.
CALM
Exchange: NasdaqGS
Founded: 1957
$1,961,900,518
48,694,478
Website: http://www.calmainefoods.com
Address: Cal-Maine Foods, Inc.
3320 West Woodrow Wilson Avenue,
Jackson,
Mississippi, 39209,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS CALM Common Stock Nasdaq Global Select US USD 14. Dec 1972
DB CM2 Common Stock Deutsche Boerse AG DE EUR 14. Dec 1972
Number of employees
Current staff
Staff numbers
3,496
Cal-Maine Foods employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/24 23:34
End of day share price update: 2019/06/24 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/04/01
Last earnings reported: 2019/03/02
Last annual earnings reported: 2018/06/02


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.