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Pilgrim's Pride Corporation (PPC)

Sous-évalué
Consumer DefensivePackaged FoodsUnited States

Fondamental

75

Prix

$27.01

Capitalisation boursière

$6.49B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

Pilgrim's Pride raises, processes and sells chicken, and to a lesser extent pork, to grocery chains, foodservice operators and restaurants across the US, the UK, continental Europe and Mexico. It contracts with independent farmers who raise its birds under company supervision, then owns and runs the hatcheries, feed mills and processing plants that turn live birds into fresh, frozen and prepared chicken products, sold partly under its own brands and largely under retailers' private labels. JBS, the Brazilian meat producer, owns a large majority of its shares.

Comment l'entreprise gagne de l'argent

Revenue comes from selling processed chicken and pork by the pound to large retail and foodservice customers under contracts that are periodically renegotiated. Profitability is squeezed between two volatile costs it does not control: feed (corn and soybean meal), its largest expense, and wholesale chicken prices, which move with industry-wide supply and consumer demand. Because margins are thin and highly sensitive to this spread, results swing significantly from year to year even when sales volumes stay roughly stable.

Chiffre d'affaires par segment

US59.5%

Chicken and prepared-food products sold across the US to retail, foodservice and club-store customers; the largest and most mature market.

Europe29.1%

Fresh and prepared chicken sold in the UK and continental Europe under company and retailer private-label brands, run mainly through the Moy Park and Pilgrim's UK operations.

Mexico11.5%

Chicken production and sales in Mexico, the smallest of the three regional segments.

Avantage concurrentiel

Aucun avantage identifié · Aucun

Chicken is a commodity: consumers and foodservice buyers choose largely on price, and Pilgrim's Pride's scale as one of the largest US processors lowers costs somewhat but does not let it charge more than smaller rivals for the same cut of meat. Feed costs and wholesale chicken prices are set by industry-wide supply and demand that no single producer, however large, can control.

Ce qui stimule la demande

Défensif

Chicken is the most affordable major protein, so consumer demand for it stays fairly steady through economic cycles and can even rise when shoppers trade down from beef or dining out. What swings sharply is not demand but the margin between wholesale chicken prices and feed costs, which behaves more like a commodity spread than a typical demand cycle.

Principaux risques

  • Feed cost volatility — Corn and soybean meal are Pilgrim's Pride's largest input costs, and a spike in grain prices, driven by weather, biofuel demand or trade disruptions, directly squeezes margins that the company cannot always pass through to customers.
  • Wholesale chicken price cyclicality — Chicken prices swing with industry-wide production levels; when processors collectively grow supply too fast, prices and margins fall across the whole sector regardless of how efficiently any single company operates.
  • Animal health and biosecurity risk — An outbreak of avian influenza or another disease can force the destruction of flocks, disrupt supply and trigger export restrictions from importing countries, hitting volume and costs at the same time.
  • Litigation and regulatory exposure — Pilgrim's Pride has faced antitrust investigations and litigation over alleged price-fixing in the broiler-chicken industry, and adverse outcomes or new regulation could bring fines or changes to how the company can operate.

Concentration des clients

Les principaux clients représentent 16.8% du chiffre d'affaires

The two largest US customers together account for about 17% of consolidated net sales, with no single customer above 10%, among a base that includes Chick-fil-A, Kroger, Costco, Walmart and McDonald's across its markets.

Les arguments en faveur

Buyers argue that geographic diversification across the US, UK, Europe and Mexico smooths out regional supply swings, that a shift toward more prepared and branded products reduces exposure to raw commodity pricing, and that scale as one of the world's largest chicken producers supports cost efficiency through the cycle.

Les arguments contre

Sellers fear that chicken remains a low-margin commodity business whose profits are set by the gap between feed costs and wholesale prices that no producer controls, that past antitrust litigation signals structural pricing risk across the industry, and that majority ownership by JBS limits minority shareholders' influence over capital allocation.

Written by the editors, published on 18 août 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 19 septembre 2026 with claude-haiku-4-5 — shared with all users

P/E: 31.2Score: 64Market cap: $1.14B

The largest US chicken processor, selling fresh and prepared poultry to the same supermarket chains, quick-service restaurants and foodservice distributors that Pilgrim's Pride supplies.

Wayne-Sanderson Farms, LLCNot tracked

Privately held third-largest US broiler producer, competing head-on with Pilgrim's Pride for commodity chicken volumes and big-box and foodservice contracts in the American South.

Perdue Farms Inc.Not tracked

Family-owned US poultry processor whose branded, no-antibiotics and organic chicken lines compete for the same retail shelf space and premium consumer as Pilgrim's Pride's branded offer.

Koch Foods, Inc.Not tracked

Private US chicken processor focused on further-processed and foodservice cuts, bidding against Pilgrim's Pride for restaurant-chain and distributor supply contracts.

2 Sisters Food Group (Boparan Holdings Ltd.)Not tracked

One of the UK's biggest poultry and chilled-food suppliers, competing directly with Pilgrim's UK and Moy Park for British retailers' own-label chicken and ready-meal contracts.

Cranswick plcNot tracked

UK fresh pork, poultry and prepared-foods producer bidding for the same British supermarket own-label programmes as Pilgrim's European business.

Bilan & Liquidités

Chiffre d'affaires

$18.44B

12 derniers mois (au 28/06/2026)

Résultat net

$546M

12 derniers mois (au 28/06/2026)

Flux de trésorerie libre

$1.12B

Capitaux propres totaux

$3.68B

Passif total

$6.65B

Ratio de liquidité général

1.36

Couverture des intérêts

5.61

Dette/EBITDA

1.50

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Le poids de la dette

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Cas généralSous-évalué

Juste valeur

$94.14

Prix actuel

$27.01

Marge de sécurité

+71.3%

Fourchette de juste valeur

$61.19 - $127.09

Écart entre les méthodes de valorisation utilisées, pas un intervalle de confiance calibré statistiquement.

Méthodes d'estimation

Objectif de cours des analystes:$33.29
Flux de trésorerie actualisés (DCF):$321.37
Multiple de résultat (P/E):$24.93
Formule de croissance de Graham:$117.89
Valeur de la capacité bénéficiaire (EPV):$38.26
P/B justifié:$28.76
Actualisation des dividendes (Gordon):Données insuffisantes pour le calculer
P/FFO, les fonds provenant de l'exploitation:$103.38
Bénéfices de milieu de cycle:$78.38
Multiple sur le chiffre d'affaires:$91.44
Consensus des analystes:Acheter (5B / 9H / 0S)
Dernière surprise sur les résultats:-8.16%

Indicateurs de valorisation

Ratio P/E

11.74

ROE

29.4%

Ratio P/B

1.72

P/FCF

8.80

Marge brute

9.6%

ROIC

10.0%

Radar de rentabilité

Création de valeur (avantage concurrentiel)

ROIC

10.0%

WACC

6.7%

ROIC − WACC

+3.3 pp

Le ROIC dépasse le coût du capital — l'entreprise crée de la valeur pour les actionnaires.

Critères d'analyse fondamentale

Réussi (18)

  • EPS shows upward trend
  • ROIC 10.0%
  • P/FCF 8.80
  • P/B Ratio 1.72
  • Debt/Equity ratio
  • Operating Margin 5.0%
  • Positive Free Cash Flow
  • Current Ratio
  • Interest Coverage
  • Debt/EBITDA
  • Return on Tangible Assets
  • Price below Graham Number
  • ROE 14.8%
  • Revenue Growth 5Y 8.9%
  • PEG Ratio 0.19
  • Earnings Quality (OCF/NI) 2.24
  • Share Dilution 0.3%
  • Piotroski F-Score 6/9

Échoué (8)

  • Price CAGR 3.82%
  • Gross Margin 9.6%
  • CapEx intensity
  • Low reliance on intangibles
  • DCF valuation (Fairly valued)
  • Analyst Consensus 36% Buy
  • Earnings Surprise avg -9.9%
  • Net Margin Trend 3.0% vs 6.8%

Indisponible (1)

  • Dividend Payout NaN%

Score F de Piotroski

6/9

Signaux mixtes : certains domaines nécessitent attention

score
criteria

Qualité des bénéfices

2.24

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

0.3%

Le nombre d'actions est stable

Participations institutionnelles

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. Fabio SandriPresident & CEO53
Mr. Matthew R. GalvanoniCFO & Chief Accounting Officer52
Mr. Andrew RojeskiHead of Strategy, Investor Relations & Net-Zero Programs-
Mr. Jesus MunozPresident of Pilgrim's Mexico-

Risque d'audit

7

Risque du conseil

10

Risque de rémunération

3

Risque droits des actionnaires

5

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

Documents

  • Rapport annuel (10-K)

    Un aperçu annuel de l'activité, des résultats financiers et des risques de l'entreprise.

    Déposé le 2026-02-12

    Voir le document
  • Rapport trimestriel (10-Q)

    Une mise à jour de la performance financière des trois derniers mois.

    Déposé le 2026-07-30

    Voir le document
  • Rapport d'événement important (8-K)

    Un avis concernant un événement important, comme un changement de direction ou une annonce majeure.

    Déposé le 2026-09-23

    Voir le document

via SEC EDGAR

Historique des résultats

via SEC EDGAR

Latest News

Recent headlines for PPC, sourced from Markets Gazette.

  • 8/18/2026POSITIVE
    JBS Seeks Rest of Pilgrim’s Pride in $1.2 Billion Offer

    Pilgrim's Pride Corp. shares surged following a $1.2 billion stock offer from JBS NV, which aims to acquire the remaining shares of the chicken producer it does not already own. This significant offer represents a substantial premium for Pilgrim's Pride shareholders, driving the stock's largest gain in five years. The proposed acquisition by JBS, a major player in the global meatpacking industry, signals strong strategic interest and potential consolidation within the sector. Investors are likely to view this development favorably, anticipating a successful completion of the deal and a positive outcome for Pilgrim's Pride stakeholders.

via Markets Gazette