CPB
Campbell Soup Company
CPB's fundamentals are weak and it looks expensive: trading at 17x earnings, in line with its usual 16x. Its downside scenario is about six times its upside.
CPB Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Weak |
CPB's revenue, profitability and cash flow are currently stable, but its balance sheet is weak.
CPB PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 11x | $14.62 | -34% |
| Forward | 13x | $22.07 | — |
| Fair | 16x | $21.33 | -3.4% |
| Current | 17x | $22.07 | — |
| Expensive | 21x | $27.55 | +25% |
Historical ranges are pointers, not guarantees.
CPB's PE is in its fair range at 17x. On analysts' estimates for next year's earnings, today's price would be 13x, in its cheap range.
CPB Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Stable | |
| Stable | |
| Stable | |
| Moderate | |
| Moderate |
Analysts expect CPB's earnings, revenue and profitability to hold roughly steady.
CPB Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $1.76 | +34% |
| Q3 2026 | $1.31 | -35% |
| Q2 2026 | $2.03 | +34% |
| Q1 2026 | $1.84 | +6.4% |
| Q4 2025 | $1.94 | +6% |
| Q3 2025 | $2.01 | +6.3% |
| Q2 2025 | $1.51 | -39% |
| Q1 2025 | $1.73 | -32% |
| Q4 2024 | $1.83 | -31% |
CPB's earnings per share have fallen from their peak: $1.31 over the past year, against $5.82 in late 2020.
CPB Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.1B | -7.9% |
| Q2 2026 | $2.4B | -4.4% |
| Q1 2026 | $2.6B | -4.5% |
| Q4 2025 | $2.7B | -3.4% |
| Q3 2025 | $2.3B | +1.2% |
| Q2 2025 | $2.5B | +4.5% |
| Q1 2025 | $2.7B | +9.3% |
| Q4 2024 | $2.8B | +10% |
CPB's revenue has slid since its 2024 peak: $2.1B last quarter, down 7.9% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 0.2% | -11 points |
| Q2 2026 | 10% | +3.6 points |
| Q1 2026 | 11% | -1.5 points |
| Q4 2025 | 13% | -0.7 points |
| Q3 2025 | 12% | +8.2 points |
| Q2 2025 | 6.5% | -4 points |
| Q1 2025 | 12% | -0.7 points |
| Q4 2024 | 13% | -1 points |
CPB's operating margin was 0.2% last quarter, down 11 points from the same quarter a year ago, near the bottom of its range since 2019.
CPB Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $136M | +5.4% |
| Q2 2026 | $29M | -42% |
| Q1 2026 | $416M | +1.2% |
| Q4 2025 | $97M | -16% |
| Q3 2025 | $129M | -12% |
| Q2 2025 | $50M | -50% |
| Q1 2025 | $411M | +5.4% |
| Q4 2024 | $115M | +271% |
CPB's free cash flow has been positive every quarter for seven years: $678M over the past year, down 3.8% from the year before.
CPB Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.3% | +1M shares |
| 1 year | 0% | -- |
| 3 years | -0.3% | -1M shares |
| 5 years | -1.6% | -5M shares |
| Available history | -1% | -3M shares |
CPB has 300M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $2M |
| Q4 2025 | $24M |
| Q3 2025 | $2M |
| Q2 2025 | $4M |
| Q1 2025 | $2M |
| Q4 2024 | $54M |
CPB spent $26M buying back its own shares over the past year, down 58% from the year before.
CPB Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.3x | High |
| Q2 2026 | 4.3x | High |
| Q1 2026 | 4.5x | High |
| Q4 2025 | 4.5x | High |
| Q3 2025 | 4.3x | High |
| Q2 2025 | 4.9x | High |
| Q1 2025 | 4.7x | High |
| Q4 2024 | 5.0x | High |
CPB's net debt is about 5.3 years of its operating earnings (EBITDA), up from 4.3 years a year ago.
CPB Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 50.4 | Neutral |
| Stochastic | 63.7 | Neutral |
CPB's weekly RSI is 50 (neutral) and its Stochastic is 64 (neutral).
CPB PE vs Consumer Defensive Sector
| Metric | CPB | Sector median | Relative |
|---|---|---|---|
| PE | 17x | 19x | 14% below |
| PE % | 55 | 18 | 37 pts above |
CPB is trading at 17x earnings, a 14% discount to the Consumer Defensive sector's median of 19x.
CPB Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $20.7 | 6.7% above |
| 20 week MA | $21.7 | 1.8% above |
| 50 week MA | $23.2 | 5% below |
| 100 week MA | $29.1 | 24% below |
| 200 week MA | $37.7 | 41% below |
CPB has bounced recently, but its long-term trend is still down: it's above its 8- and 20-week averages, but 41% below its 200-week average.
CPB Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $49.5 | $48.6 | -1.8% |
| 2021 | $48.6 | $42.0 | -14% |
| 2022 | $42.0 | $57.3 | +37% |
| 2023 | $57.3 | $43.2 | -25% |
| 2024 | $43.2 | $41.8 | -3.3% |
| 2025 | $41.8 | $28.2 | -33% |
| 2026 YTD | $28.2 | $22.1 | -22% |
CPB has finished three years in a row lower, and it's down 22% so far in 2026.