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Campbell Soup Company

CPB
46
Packaged Foods · Consumer Defensive
Also trades as: 0HST.L
Price
$22.57
-0.14 (-0.64%)
Market Cap
$6.73B
Exchange
NASDAQ
Winston Score
46
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 12, 2026 · filings through May 3, 2026

Share count falling — buybacks

1.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 305.0M (2021) → 300.0M (2025)

Campbell Soup Company makes food products that millions of people buy at grocery stores. Its most famous product is canned soup, but it also owns well-known brands like Pepperidge Farm (cookies and bread), Goldfish crackers, Prego pasta sauce, and Pace salsa. The company sells mostly to everyday consumers through supermarkets, big-box stores like Walmart, and online retailers across North America.

Campbell earns money by selling packaged food products directly to retailers, who then sell them to shoppers. The company operates primarily in the United States, with some international sales, and generates roughly $9–10 billion in annual revenue. Its main competitive advantage is brand recognition — products like Goldfish and Campbell's soup have loyal customers built over decades. However, the company carries significant debt from past acquisitions, and it faces ongoing pressure from consumers shifting toward fresher, less-processed foods, which could slowly shrink demand for traditional canned and packaged goods.

Winston Score History

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12 trades / 12mo

7 Congressional buys and 5 sells on CPB in the last 12 months.

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Score breakdown

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Quality

Gross Margin
27.5%
Modest — 27.5% gross margin
Operating Margin
10.1%
Modest — 10.1% operating margin
ROCE
2.2%
Weak — 2.2% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY
-2.9%
Shrinking sales (-2.9% YoY)
EPS YoY
+34.9%
Earnings growing fast (+34.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
2/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Cash Conversion
181%
Turns 181% of profit into real cash
FCF Margin
6.5%
Modest free cash flow (6.5%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
1.74
Elevated debt (1.74)
Interest Cover
3.45x
Tight — interest eats into profit (3.5x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
11.0x
Attractive valuation — P/E 11.0

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

P/E vs Forward
-0.2
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend Yield
6.88%
Healthy income — 6.88% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend Growth
+1.3%
Dividend flat

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