LW
Lamb Weston Holdings, Inc.
LW's fundamentals are mixed: it turned 6.2% of its revenue into free cash flow, but its operating margin fell 2 points to 7.8%. At 30x earnings, it's trading above its usual 26x. Analysts expect strong earnings growth.
LW Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Stable | |
| Stable | |
| Weak |
LW's revenue, profitability and cash flow are currently stable, but its balance sheet is weak.
LW PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 15x | $26.91 | -51% |
| Forward | 17x | $55.23 | — |
| Fair | 26x | $47.06 | -15% |
| Current | 30x | $55.23 | — |
| Expensive | 39x | $70.76 | +28% |
Historical ranges are pointers, not guarantees.
LW's PE is in its expensive range at 30x. If earnings grow as analysts expect, today's price would be 17x next year's earnings, in its cheap range.
LW Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| Improving | |
| Moderate | |
| Moderate |
Analysts expect LW's earnings to grow and its profitability to improve, with its revenue holding steady.
LW Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $3.33 | +82% |
| Q3 2026 | $1.83 | -12% |
| Q2 2026 | $2.08 | -17% |
| Q1 2026 | $2.13 | -16% |
| Q4 2025 | $2.77 | +9.5% |
| Q3 2025 | $2.08 | -51% |
| Q2 2025 | $2.50 | -50% |
| Q1 2025 | $2.55 | -66% |
| Q4 2024 | $2.53 | -67% |
LW's earnings per share have fallen from their peak: $1.83 over the past year, against $7.72 in late 2023.
LW Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.7B | +0.7% |
| Q2 2026 | $1.8B | +5.6% |
| Q1 2026 | $1.6B | +2.9% |
| Q4 2025 | $1.6B | +1.1% |
| Q3 2025 | $1.7B | +0.3% |
| Q2 2025 | $1.7B | +4% |
| Q1 2025 | $1.5B | +4.3% |
| Q4 2024 | $1.6B | -7.6% |
LW's revenue grew through 2023 and has held roughly level since: $1.7B last quarter, about level with the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 4.9% | -4.5 points |
| Q2 2026 | 9.5% | -1.6 points |
| Q1 2026 | 8.1% | -8.3 points |
| Q4 2025 | 8.6% | +7.4 points |
| Q3 2025 | 9.4% | -3.4 points |
| Q2 2025 | 11% | -2.1 points |
| Q1 2025 | 16% | +1 points |
| Q4 2024 | 1.2% | -17 points |
LW's operating margin was 4.9% last quarter, down 4.5 points from the same quarter a year ago, near the bottom of its range since 2019.
LW Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $146.1M | -47% |
| Q2 2026 | $201.1M | -32% |
| Q1 2026 | -$36.3M | -$16.5M |
| Q4 2025 | $101M | +$150.6M |
| Q3 2025 | $274.4M | +6281% |
| Q2 2025 | $295.2M | +96% |
| Q1 2025 | -$19.8M | +$209.7M |
| Q4 2024 | -$49.6M | +$70.1M |
LW generated $412M in free cash flow over the past year, down 18% from the year before.
LW Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -1M shares |
| 1 year | -1.2% | -1.7M shares |
| 3 years | -5.8% | -8.5M shares |
| 5 years | -6% | -8.8M shares |
| Available history | -6.1% | -9M shares |
LW has 138M diluted shares, down 1.2% from a year ago.
LW Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.1x | High |
| Q2 2026 | 3.9x | Elevated |
| Q1 2026 | 4.0x | Elevated |
| Q4 2025 | 3.4x | Elevated |
| Q3 2025 | 3.8x | Elevated |
| Q2 2025 | 3.8x | Elevated |
| Q1 2025 | 3.8x | Elevated |
| Q4 2024 | 3.8x | Elevated |
LW's net debt is about 4.1 years of its operating earnings (EBITDA), up from 3.8 years a year ago.
LW Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 62.5 | Neutral |
| Stochastic | 88.2 | Overbought |
LW's weekly RSI is 63 (neutral) and its Stochastic is 88 (overbought).
LW PE vs Consumer Defensive Sector
| Metric | LW | Sector median | Relative |
|---|---|---|---|
| PE | 30x | 19x | 55% above |
| PE % | 66 | 18 | 48 pts above |
LW is trading at 30x earnings, a 55% premium to the Consumer Defensive sector's median of 19x.
LW Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $50.9 | 8.5% above |
| 20 week MA | $50.3 | 9.7% above |
| 50 week MA | $47.2 | 17% above |
| 100 week MA | $52.0 | 6.2% above |
| 200 week MA | $72.4 | 24% below |
LW has bounced recently, but its long-term trend is still down: it's above its 8-, 20-, 50- and 100-week averages, but 24% below its 200-week average.
LW Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $86.1 | $77.7 | -9.8% |
| 2021 | $77.7 | $61.8 | -20% |
| 2022 | $61.8 | $89.6 | +45% |
| 2023 | $89.6 | $108.1 | +21% |
| 2024 | $108.1 | $67.0 | -38% |
| 2025 | $67.0 | $42.2 | -37% |
| 2026 YTD | $42.2 | $55.2 | +31% |
LW is up 31% so far in 2026, after finishing lower in four of the previous six years.