One-glance verdict
Undervalued
$1,221.71 our estimate vs market $183.47
Wall Street consensus: $202.00 (-83.5% lower than our fair-value estimate)
85% below our estimate, below the bear case
Fundamentals snapshot
Seneca Foods Corporation
SENEA · NMS · Consumer Defensive · Packaged Foods
Current price
$183.47
52-week range
$99.58 - $210.00
Market cap
$1.24B
Balance sheet
Watch
4.34x Stretched
Net debt $153.32M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
0 Risks
3 rewards · 0 risks
- Reward Revenue grew 5.5% last year.
- Reward Returns 16.8% on equity, ahead of 80% of its peers.
- Reward Free cash flow was positive in 5/10 years.
What this company does
Seneca Foods Corporation
Seneca Foods is a major producer of packaged fruits and vegetables, selling products under familiar names like Libby's and Green Giant as well as private labels (a store's own brand). The company primarily makes money by being a key supplier of these canned and frozen goods to grocery stores and restaurants, which matters because its business relies on the steady, everyday demand for food staples.
How the company got here
Seneca Foods began in 1949 when its founder, Art Wolcott, bought a small grape juice company at a bankruptcy auction. [3] Over many years, it grew by purchasing other food companies, slowly shifting its focus from fruit juices to canned and frozen vegetables. [3, 5] A major turning point was in 1995, when it partnered with Pillsbury to become a primary packer for the Green Giant brand, a name you'd recognize in the grocery aisle. [3, 5] To focus on this core business, the company sold off its original juice operations and is now one of the largest processors of packaged vegetables in the United States. [3, 10]
What it actually does
Seneca Foods takes fresh fruits and vegetables from over 1,200 American farms and packages them for a long shelf life. [17] You'll find their products in cans, freezer bags, and jars at almost any grocery store. [1, 2] While they have their own brands like Seneca and Libby's, a huge part of their business is packing food for store brands (also known as private labels) and for other well-known brands like Green Giant. [5, 13] They sell to supermarkets, big-box stores, and foodservice distributors (companies that supply restaurants, schools, and hospitals). [2, 4]
Vegetable
This is by far the largest part of Seneca's business, making up the vast majority of its sales. [12] This segment is responsible for preparing and packaging vegetables, which are then sold either canned or frozen. When a grocery store wants to sell corn or green beans under its own store brand, it's often Seneca that is actually packing the vegetables for them. This part of the business also includes a contract packing agreement to pack canned and some frozen vegetables for the Green Giant brand. [13]
Fruit / Snack
This is a much smaller slice of the company's business. [10] It includes packaged fruits, like maraschino cherries sold under the CherryMan brand, and snack products like apple chips. [1, 5] While not the main focus, it allows the company to use its food processing facilities and relationships with farms to offer a wider variety of products to its customers. This segment operates on a smaller scale compared to the massive vegetable operation.
What management is betting on now
The company's leadership is focused on being highly efficient in its core business of processing fruits and vegetables. [6] Instead of branching out into new food categories, they are concentrating on managing their supply chain (the entire process of getting food from the farm to the store) and controlling costs. [6] A key priority is growing their private label business, as many shoppers are choosing store brands to save money. [10] They are also working to successfully incorporate the recently acquired Green Giant frozen vegetable business, which is a significant strategic move for the company. [10]
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 Q2
$69.95M
FY2025 Q3
$108.66M
FY2025 Q4
$81.38M
FY2026 Q1
$42.41M
FY2026 Q2
$21.80M
FY2026 Q3
$22.91M
FY2027 Q1
$91.89M
Revenue
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Net income
$19.51M
Diluted EPS
2.85
Operating cash flow
$109.06M
Free cash flow
$91.89M
Fetching…
Sources
Revenue
—
Net income
$44.77M
Diluted EPS
6.48
Operating cash flow
$31.11M
Free cash flow
$22.91M
Fetching…
Sources
Revenue
—
Net income
$29.74M
Diluted EPS
4.29
Operating cash flow
$29.34M
Free cash flow
$21.80M
Fetching…
Sources
Revenue
—
Net income
$14.88M
Diluted EPS
2.14
Operating cash flow
$53.70M
Free cash flow
$42.41M
Fetching…
Sources
Revenue
—
Net income
$601.00K
Diluted EPS
0.10
Operating cash flow
$91.88M
Free cash flow
$81.38M
Fetching…
Sources
Revenue
—
Net income
$14.66M
Diluted EPS
2.10
Operating cash flow
$117.73M
Free cash flow
$108.66M
Fetching…
Sources
Revenue
—
Net income
$13.30M
Diluted EPS
1.90
Operating cash flow
$75.54M
Free cash flow
$69.95M
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Sources
Is it cheap or expensive?
Fair value $1,221.71 vs current price $183.47
Wall Street consensus is the average analyst price target: $202.00 (-83.5% lower than our fair-value estimate).
Our most-likely fair value is $1,221.71 a share — about 565.9% above today's price of $183.47, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Watch
Net debt $153.3M. Interest coverage 4.3x.
Net debt
$153.32M
Interest coverage
4.34x
Seneca Foods Corporation's profit covers its interest bill about 4.3 times over. which is stronger than most peers shown here.
Watch
Worse cushion
Baseline
Better cushion
SENEA
BASELINE
Seneca Foods Corporation
Total debt $240.25M Interest coverage 4.34x This is the baseline the peer rows are being compared against.
Total debt $2.01B Interest coverage 4.25x -2% vs SENEA Has roughly the same debt cushion as SENEA.
Total debt $109.35M Interest coverage 35.80x +725% vs SENEA Carries about 8.3x more debt cushion than SENEA.
Total debt $2.58B Interest coverage 1.23x -72% vs SENEA Carries about 3.5x less debt cushion than SENEA.
Total debt $0.00 Interest coverage 560.06x +12,812% vs SENEA Carries about 129.1x more debt cushion than SENEA.
What you should know
The case for and against SENEA
3 Rewards
0 Risks
Rewards
-
Revenue grew 5.5% last year.
-
Returns 16.8% on equity, ahead of 80% of its peers.
-
Free cash flow was positive in 5/10 years.
Risks
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)
10.60x
Forward P/E
—
P/B
1.60x
P/S
0.70x
EV/EBITDA
6.85x
PEG ratio
0.83x
Profitability
How much profit each dollar creates
Gross margin
13.4%
Operating margin
7.2%
Net margin
6.8%
ROE
16.8%
ROA
8.3%
Health
Liquidity and balance-sheet strength
Debt / equity
0.31x
Current ratio
3.77x
Quick ratio
0.87x
Total debt
$240.25M
Total cash
$86.92M
Growth
How the business has been compounding
Revenue TTM
$1.35B
Revenue 5Y CAGR
-0.5%
EPS TTM
17.30
EPS 5Y CAGR
142.7%
Cash flow
How much cash the business throws off
Operating CF TTM
$223.22M
Free CF TTM
$298.25M
FCF margin
22.1%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
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