One-glance verdict
Undervalued
$3.52 our estimate vs market $3.04
Wall Street consensus: $4.30 (22.0% higher than our fair-value estimate)
14% below our estimate, below the bear case
Fundamentals snapshot
B&G Foods, Inc.
BGS · NYQ · Consumer Defensive · Packaged Foods
Current price
$3.04
52-week range
$3.04 - $6.38
Market cap
$247.08M
Balance sheet
Distressed
1.23x Concerning
Net debt $1.98B. Interest coverage shows how many times profit covers the interest bill.
What stands out
2 Rewards
2 Risks
2 rewards · 2 risks
- Reward Free cash flow was positive in 8/10 years.
- Reward Dividend yield is 12.1% with 20-year payout history.
- Risk Return on equity was -15.8% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 4.9% (peer median: 7.6%).
What this company does
B&G Foods, Inc.
B&G Foods is a food company that owns dozens of brands you'd find in a grocery store, including Green Giant vegetables, Crisco cooking oil, and Ortega taco shells. It makes money by selling these everyday, long-lasting food items, which matters because households tend to buy them regularly regardless of how the broader economy is doing. This business model can lead to a more predictable stream of sales for the company.
How the company got here
B&G Foods started in 1889 as a small pickle business in New York City founded by the Bloch and Guggenheimer families. The modern company, however, was formed in 1996 and grew by acquiring a collection of well-known, established food brands. Its main strategy has been to buy brands that larger companies no longer considered a priority and then focus on managing them for better cash flow (the money left over after a company pays its expenses). This approach has built a diverse portfolio of brands, including major additions like Green Giant in 2015 and Crisco in 2020.
What it actually does
B&G Foods makes, sells, and distributes a wide variety of packaged foods that you can find in most grocery stores across the United States, Canada, and Puerto Rico. Their products are primarily shelf-stable (meaning they can be stored at room temperature for a long time) and frozen foods. You would recognize many of their names, such as Green Giant frozen vegetables, Cream of Wheat hot cereal, Ortega taco shells and sauces, and Crisco cooking oils. They also own brands for spices, fruit spreads, and even a household product called Static Guard that reduces static cling on clothes.
Specialty
This is the company's largest business segment and includes a wide assortment of well-known grocery products. It features brands like Crisco cooking oils, Polaner fruit spreads, Underwood canned meats, and New York Style bagel chips. This segment also includes baking-related brands such as Clabber Girl baking powder and Grandma's Molasses. These are the kinds of established products that have been in American kitchens for many years and generate steady sales for the company.
Meals
This part of the business focuses on products that help people put together meals at home. It includes brands like Ortega, which sells taco shells, seasonings, and sauces for Mexican-style meals. You'll also find Cream of Wheat hot cereal, Maple Grove Farms maple syrup, and Victoria pasta sauces in this group. These brands offer convenient options for breakfast, lunch, and dinner.
Frozen & Vegetables
As the name suggests, this segment is centered around frozen and canned vegetables. The most famous brand here is Green Giant, which offers a huge variety of frozen vegetables, including many with their own sauces or in microwavable pouches. This part of the business competes for space in the freezer aisle and canned goods section of the grocery store. It represents a significant portion of the company's sales.
Spices & Flavor Solutions
This segment is all about adding flavor to food and includes a collection of spice and seasoning brands. You might recognize names like Dash, a salt-free seasoning blend, and Spice Islands, which offers a wide range of individual spices and herbs. It also includes the rights to use the Weber brand name for grilling seasonings. This business caters to home cooks looking to enhance the taste of their meals.
What management is betting on now
Recently, the company's leadership has been focused on improving its financial health after a period of rising costs. A top priority is reducing its debt, which is the money it owes to lenders. To do this, they have focused on using the cash generated from sales to pay down what they owe. They are also working to recover sales volume (the number of products sold) after having to increase prices to cover higher expenses. The main goal is to stabilize the business and manage its large portfolio of brands for steady, dependable cash flow.
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q3
$-679.00K
FY2025 Q4
$71.67M
FY2026 Q1
$42.36M
FY2026 Q2
$11.45M
FY2026 Q3
$-70.72M
FY2026 Q4
$87.66M
FY2027 Q1
$18.72M
FY2027 Q2
$28.25M
Revenue
$383.27M
Net income
$-3.98M
Diluted EPS
-0.05
Operating cash flow
$34.43M
Free cash flow
$28.25M
Fetching…
Sources
Revenue
$408.94M
Net income
$-32.54M
Diluted EPS
-0.41
Operating cash flow
$23.59M
Free cash flow
$18.72M
Fetching…
Sources
Revenue
$539.56M
Net income
$-15.18M
Diluted EPS
-0.19
Operating cash flow
$95.45M
Free cash flow
$87.66M
Fetching…
Sources
Revenue
$439.30M
Net income
$-19.14M
Diluted EPS
-0.24
Operating cash flow
$-64.62M
Free cash flow
$-70.72M
Fetching…
Sources
Revenue
$424.43M
Net income
$-9.77M
Diluted EPS
-0.12
Operating cash flow
$17.82M
Free cash flow
$11.45M
Fetching…
Sources
Revenue
$425.40M
Net income
$835.00K
Diluted EPS
0.01
Operating cash flow
$52.74M
Free cash flow
$42.36M
Fetching…
Sources
Revenue
$551.57M
Net income
$-222.41M
Diluted EPS
-2.81
Operating cash flow
$80.35M
Free cash flow
$71.67M
Fetching…
Sources
Revenue
$461.07M
Net income
$7.46M
Diluted EPS
0.09
Operating cash flow
$4.16M
Free cash flow
$-679.00K
Fetching…
Sources
Is it cheap or expensive?
Fair value $3.52 vs current price $3.04
Wall Street consensus is the average analyst price target: $4.30 (22.0% higher than our fair-value estimate).
Our most-likely fair value is $3.52 a share — about 16.0% above today's price of $3.04, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Distressed
Net debt $2.0B. Interest coverage 1.2x.
Net debt
$1.98B
Interest coverage
1.23x
B&G Foods, Inc.'s profit covers its interest bill about 1.2 times over. and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
BGS
BASELINE
B&G Foods, Inc.
Total debt $2.58B Interest coverage 1.23x This is the baseline the peer rows are being compared against.
Total debt $22.47M Interest coverage 210.03x +17,019% vs BGS Carries about 171.2x more debt cushion than BGS.
Total debt $10.85M Interest coverage 1,974.19x +160,813% vs BGS Carries about 1609.1x more debt cushion than BGS.
Total debt $12.92M Interest coverage 15.07x +1,128% vs BGS Carries about 12.3x more debt cushion than BGS.
Total debt $8.93M Interest coverage -6.63x -100% vs BGS This peer has almost no interest-payment cushion compared with BGS.
What you should know
The case for and against BGS
2 Rewards
2 Risks
Rewards
-
Free cash flow was positive in 8/10 years.
-
Dividend yield is 12.1% with 20-year payout history.
Risks
-
Return on equity was -15.8% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 4.9% (peer median: 7.6%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
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Forward P/E
5.89x
P/B
0.63x
P/S
0.14x
EV/EBITDA
8.62x
PEG ratio
4.55x
Profitability
How much profit each dollar creates
Gross margin
22.1%
Operating margin
12.0%
Net margin
-4.0%
ROE
-15.8%
ROA
3.9%
Health
Liquidity and balance-sheet strength
Debt / equity
6.52x
Current ratio
1.62x
Quick ratio
1.00x
Total debt
$2.58B
Total cash
$591.58M
Growth
How the business has been compounding
Revenue TTM
$1.77B
Revenue 5Y CAGR
-2.9%
EPS TTM
-0.85
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$88.84M
Free CF TTM
$70.75M
FCF margin
4.0%
Dividend
Shareholder payout
Yield
12.1%
Payout ratio
333.3%
Last ex-div date
2026-09-30