olivLaw · US equity research
Tyson Foods, Inc. TSN
Poultry Slaughtering and Processing · SIC 2015 · Vertical: Food products (SIC 201x)
Tyson Foods is a global protein company with vertically integrated chicken operations and well-known brands in beef, pork and prepared foods. It reported sales of 54.4 billion USD for fiscal 2025, and its third-quarter fiscal 2026 results show a recovery in chicken and prepared foods while beef remains loss-making, which matters for the outlook for protein prices.
At the close of 04 Nov 2026, Tyson Foods, Inc. (TSN) stock was 60.03 USD (+5.39% on the day), with P/E 37.0 on diluted EPS of 1.62 USD over the last 12 months, beta 0.15, 52-week range 50.47–68.75 USD. Latest reported quarter (Q3 2026): revenue of 13.9 bn USD (−0.1% YoY), net income of 182.0 m USD (+198.4% YoY), diluted EPS 0.52 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 75.0
- overbought (≥ 70)
- Bollinger (20, 2)
- 52.04 – 58.98
- above the upper band · %B 1.15 · band width 12.5%
- SMA 50 / 200
- 53.85 / 59.65
- mixed trend
- MACD (12, 26, 9)
- 1.23 / 0.87
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +16.1% | −1.1% | +17.2 pp | — |
| 3 months | +3.2% | −0.5% | +3.6 pp | — |
| 6 months | −11.8% | +4.4% | −16.2 pp | — |
| Year to date | +2.4% | +12.3% | −9.9 pp | — |
| 1 year | +15.4% | +13.5% | +1.8 pp | −8.7% |
| 3 years | +27.6% | +76.4% | −48.9 pp | −6.0% |
| 5 years | −26.4% | +63.7% | −90.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 27 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13.6 bn | 13.6 bn | 13.1 bn | 13.9 bn | 13.9 bn | 14.3 bn | 13.7 bn | 13.9 bn |
| Cost of revenue | 12.5 bn | 12.5 bn | 12.5 bn | 12.7 bn | 13.1 bn | 13.5 bn | 12.7 bn | 12.9 bn |
| Gross profit | 1.1 bn | 1.1 bn | 600.0 m | 1.1 bn | 726.0 m | 808.0 m | 962.0 m | 921.0 m |
| SG&A | 535.0 m | 515.0 m | 500.0 m | 538.0 m | 568.0 m | 506.0 m | 527.0 m | 559.0 m |
| Operating income | 525.0 m | 580.0 m | 100.0 m | 260.0 m | 158.0 m | 302.0 m | 435.0 m | 362.0 m |
| Depreciation & amortisation | 306.0 m | 348.0 m | 352.0 m ≈ | 329.0 m ≈ | 321.0 m | 376.0 m | 350.0 m ≈ | 329.0 m ≈ |
| Interest expense | 130.0 m | 120.0 m | 110.0 m | 113.0 m | 106.0 m | 104.0 m | 97.0 m | 98.0 m |
| Pre-tax income | 475.0 m | 478.0 m | 30.0 m | 193.0 m | 68.0 m | 127.0 m | 359.0 m | 266.0 m |
| Income tax | 111.0 m | 112.0 m | 16.0 m | 124.0 m | 10.0 m | 37.0 m | 95.0 m | 80.0 m |
| Net income | 357.0 m | 359.0 m | 7.0 m | 61.0 m | 47.0 m | 85.0 m | 260.0 m | 182.0 m |
| Diluted EPS | 0.99 ≈ | 1.01 | 0.02 | 0.17 | 0.13 ≈ | 0.24 | 0.73 | 0.52 |
| Operating cash flow | 617.0 m | 1.0 bn | -185.0 m ≈ | 774.0 m ≈ | 535.0 m | 942.0 m | -113.0 m ≈ | 640.0 m ≈ |
| Capex | 248.0 m | 271.0 m | 193.0 m ≈ | 227.0 m ≈ | 287.0 m | 252.0 m | 145.0 m ≈ | 159.0 m ≈ |
| Dividends paid | 171.0 m | 175.0 m | 174.0 m ≈ | 175.0 m ≈ | 173.0 m | 177.0 m | 176.0 m ≈ | 176.0 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 89 percentile of its own 35-quarter history (min 7.3, median 12.7, max 104.3; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 40.1 bn | 42.4 bn | 43.2 bn | 47.0 bn | 53.3 bn | 52.9 bn | 53.3 bn | 54.4 bn |
| Revenue YoY | +4.7% | +5.9% | +1.8% | +8.9% | +13.2% | −0.8% | +0.8% | +2.1% |
| Net income | 3.0 bn | 2.0 bn | 2.1 bn | 3.0 bn | 3.2 bn | -648.0 m | 800.0 m | 474.0 m |
| Net income YoY | +67.4% | −33.3% | +4.1% | +47.8% | +6.3% | −120.0% | unavailable | −40.8% |
| Diluted EPS | 8.04 | 5.40 | 5.64 | 8.34 | 8.92 | -1.87 | 2.25 | 1.33 |
| Diluted EPS YoY | +67.8% | −32.8% | +4.4% | +47.9% | +7.0% | −121.0% | unavailable | −40.9% |
| net % | 7.4% | 4.7% | 4.8% | 6.5% | 6.1% | -1.2% | 1.5% | 0.9% |
| Free cash flow | 1.8 bn | 1.3 bn | 2.7 bn | 2.6 bn | 800.0 m | -187.0 m | 1.5 bn | 1.2 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 27 Sept 2025
- Cash
- 1.2 bn USD
- Financial debt
- 909.0 m USD
- Net debt
- -320.0 m USD
- Equity
- 18.2 bn USD
- Total assets
- 36.7 bn USD
- Debt / equity
- 0.05x
- Current ratio
- 1.55x
- ROE
- 2.6%
- ROA
- 1.3%
- FCF margin
- 2.2%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 43.2 bn | 47.0 bn | 53.3 bn | 52.9 bn | 53.3 bn | 54.4 bn | SEC (XBRL)· 10 Nov 2025verified |
| Cost of revenue | 37.8 bn | 40.5 bn | 46.6 bn | 50.3 bn | 49.7 bn | 50.9 bn | SEC (XBRL)· 10 Nov 2025verified |
| Gross profit | 5.4 bn | 6.5 bn | 6.7 bn | 2.6 bn | 3.6 bn | 3.6 bn | SEC (XBRL)· 10 Nov 2025verified |
| Research & development | 98.0 m | 114.0 m | 108.0 m | 114.0 m | 106.0 m | 126.0 m | SEC (XBRL)· 10 Nov 2025verified |
| SG&A | 2.4 bn | 2.1 bn | 2.3 bn | 2.2 bn | 2.2 bn | 2.1 bn | SEC (XBRL)· 10 Nov 2025verified |
| Operating income | 3.0 bn | 4.4 bn | 4.4 bn | -395.0 m | 1.4 bn | 1.1 bn | SEC (XBRL)· 10 Nov 2025verified |
| Depreciation & amortisation | 1.2 bn | 1.2 bn | 1.2 bn | 1.3 bn | 1.4 bn | 1.4 bn | SEC (XBRL)· 10 Nov 2025verified |
| EBITDA | 4.2 bn ≈ | 5.6 bn ≈ | 5.6 bn ≈ | 934.0 m ≈ | 2.8 bn ≈ | 2.4 bn ≈ | SEC (XBRL)· 10 Nov 2025derived |
| Interest expense | 485.0 m | 428.0 m | 365.0 m | 355.0 m | 481.0 m | 449.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Pre-tax income | 2.7 bn | 4.0 bn | 4.1 bn | -678.0 m | 1.1 bn | 769.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Income tax | 593.0 m | 981.0 m | 900.0 m | -29.0 m | 270.0 m | 262.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Net income | 2.1 bn | 3.0 bn | 3.2 bn | -648.0 m | 800.0 m | 474.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Diluted EPS | 5.64 | 8.34 | 8.92 | -1.87 | 2.25 | 1.33 | SEC (XBRL)· 10 Nov 2025verified |
| Weighted average diluted shares | 365.0 m | 365.0 m | 363.0 m | 284.0 m | 356.0 m | 357.0 m | SEC (XBRL)· 10 Nov 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 1.4 bn | 2.5 bn | 1.0 bn | 573.0 m | 1.7 bn | 1.2 bn | SEC (XBRL)· 10 Nov 2025verified |
| Receivables | 2.0 bn | 2.4 bn | 2.6 bn | 2.5 bn | 2.4 bn | 2.5 bn | SEC (XBRL)· 10 Nov 2025verified |
| Inventories | 3.9 bn | 4.4 bn | 5.5 bn | 5.3 bn | 5.2 bn | 5.7 bn | SEC (XBRL)· 10 Nov 2025verified |
| Current assets | 7.6 bn | 9.8 bn | 9.6 bn | 8.7 bn | 9.8 bn | 9.9 bn | SEC (XBRL)· 10 Nov 2025verified |
| Property, plant & equipment, net | 7.6 bn | 7.8 bn | 8.7 bn | 9.6 bn | 9.4 bn | 9.2 bn | SEC (XBRL)· 10 Nov 2025verified |
| Goodwill | 10.9 bn | 10.5 bn | 10.5 bn | 9.9 bn | 9.8 bn | 9.5 bn | SEC (XBRL)· 10 Nov 2025verified |
| Intangibles (excl. goodwill) | 6.8 bn | 6.5 bn | 6.3 bn | 6.1 bn | 5.9 bn | 5.6 bn | SEC (XBRL)· 10 Nov 2025verified |
| Total assets | 34.5 bn | 36.3 bn | 36.8 bn | 36.3 bn | 37.1 bn | 36.7 bn | SEC (XBRL)· 10 Nov 2025verified |
| Accounts payable | 1.9 bn | 2.2 bn | 2.5 bn | 2.6 bn | 2.4 bn | 2.6 bn | SEC (XBRL)· 10 Nov 2025verified |
| Short-term debt | 548.0 m | 1.1 bn | 459.0 m | 1.9 bn | 74.0 m | 909.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Current liabilities | 4.2 bn | 6.3 bn | 5.3 bn | 6.5 bn | 4.8 bn | 6.4 bn | SEC (XBRL)· 10 Nov 2025verified |
| Equity | 15.4 bn | 17.9 bn | 19.8 bn | 18.3 bn | 18.5 bn | 18.2 bn | SEC (XBRL)· 10 Nov 2025verified |
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 3.9 bn | 3.8 bn | 2.7 bn | 1.8 bn | 2.6 bn | 2.2 bn | SEC (XBRL)· 10 Nov 2025verified |
| Capex | 1.2 bn | 1.2 bn | 1.9 bn | 1.9 bn | 1.1 bn | 978.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Free cash flow | 2.7 bn ≈ | 2.6 bn ≈ | 800.0 m ≈ | -187.0 m ≈ | 1.5 bn ≈ | 1.2 bn ≈ | SEC (XBRL)· 10 Nov 2025derived |
| Investing cash flow | -1.4 bn | 58.0 m | -1.9 bn | -2.3 bn | -888.0 m | -665.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Financing cash flow | -1.5 bn | -2.7 bn | -2.3 bn | 88.0 m | -581.0 m | -2.0 bn | SEC (XBRL)· 10 Nov 2025verified |
| Dividends paid | 601.0 m | 636.0 m | 653.0 m | 670.0 m | 684.0 m | 697.0 m | SEC (XBRL)· 10 Nov 2025verified |
| Share repurchases | 207.0 m | — | — | — | — | — | SEC (XBRL)· 16 Nov 2020verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 42 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Key indicators
Coverage and freshness
Score by group
- Valuation17
- Balance sheet68
- Quality49
- Growth3
- Returns85
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 14.02 – 40.34 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E14.02 – 40.34 (Mid 34.88)5 companies used · median multiple 21.5x · quartiles 8.6x – 24.9xHRL, JBS, PPC, SFD, WYHG
- Dividend discount (DDM)unavailable · input data missing
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 42/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 5.0% | 40 (vs peers) | 14% |
| Net margin · Quality | 1.0% | 14 (vs peers) | 8% |
| FCF conversion · Quality | 202.3% | 100 (on a fixed band) | 8% |
| Revenue CAGR 3Y · Growth | 0.7% | 6 (on a fixed band) | 11% |
| EPS CAGR 3Y · Growth | -47.0% | 0 (on a fixed band) | 11% |
| Net debt / EBITDA · Balance sheet | 0.3x | 100 (on a fixed band) | 14% |
| Interest coverage · Balance sheet | 3.1x | 25 (on a fixed band) | 8% |
| Current ratio · Balance sheet | 1.4x | 53 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 37.0x | 17 (vs peers) | 14% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | 60.5% | 85 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet68/100 · 3/3 factors with a value
- Growth3/100 · 2/2 factors with a value
- Quality49/100 · 3/3 factors with a value
- Returns· partial85/100 · 1/2 factors with a value
- Valuation· partial17/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
TYSON FOODS, INC. (TSN). Latest full fiscal year: 2025; data up to 2026-06-27.
Figures computed from the financial statements: revenue 54.4 bn USD in 2025; YoY growth 2.1%; net margin 1.0%; ROE 3.2%; net debt/EBITDA 0.3x.
The estimated value range is 14.02–40.34 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 34.88 USD, the price of 60.03 USD leaves a potential of -41.9% (value / price − 1) and a margin of safety of -72.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 42/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: returns, valuation. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 202.3%
- Net debt / EBITDA: 0.3x
- Payout ratio (FCF): 60.5%
What contradicts it
- Net margin: 1.0%
- Revenue CAGR 3Y: 0.7%
- EPS CAGR 3Y: -47.0%
- Interest coverage: 3.1x
- P/E (TTM): 37.0x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): EV/EBITDA, FCF yield, Shareholder yield (distributions).
Versus the vertical median
Food products (SIC 201x) · same industry group (3-digit SIC) · compared with 7 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SFDSmithfield Foods, Inc. | 7.8 bn | 8.6 | 13.4% | 5.9% | +9.8% | −9% / unavailable |
| PPCPilgrim’s Pride Corporation | 6.9 bn | 21.5 | 8.6% | 1.7% | +3.5% | −24% / +13% |
| MAMAMama’s Creations, Inc. | 629.4 m | 78.1 | 7.5% | 3.5% | +39.2% | +18% / +230% |
| WYHGWing Yip Food Holdings Group Limited | 200.3 m | 24.9 | 4.8% | 5.9% | −6.5% | +8% / unavailable |
| BRIDBridgford Foods Corporation | 49.3 m | — | -12.3% | -6.1% | +3.3% | −32% / −49% |
| JBSJbs N.V. | — | 6.9 | 25.6% | 2.3% | +11.7% | −12% / unavailable |
| TSNTyson Foods, Inc. | — | 37.0 | 3.2% | 1.0% | +2.1% | +15% / +28% |
| HRLHormel Foods Corporation | — | 36.2 | 4.3% | 2.8% | +1.6% | −2% / −26% |
1- and 3-year price returns: for TSN from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Tyson Foods is a global protein company with vertically integrated chicken operations and well-known brands in beef, pork and prepared foods. It reported sales of 54.4 billion USD for fiscal 2025, and its third-quarter fiscal 2026 results show a recovery in chicken and prepared foods while beef remains loss-making, which matters for the outlook for protein prices.
SWOT
Strengths
- Full vertical integration in chicken, from genetic material to distribution, together with well-known brands that support pricing and market share.
- International presence across many export markets, with owned operations and joint ventures in Asia and Latin America.
- Diversification across four protein and prepared food segments, which may dampen the effect of price cycles in any single sector.
Weaknesses
- The Beef segment has repeatedly reported operating losses, and cattle costs remain high because of limited supply.
- Dependence on one dominant customer creates a concentration risk for revenue.
- Concentrated control within the Tyson family and the Tyson Limited Partnership may limit the influence of minority shareholders over decisions.
Opportunities
- If the recovery in Chicken and brand growth continue, the company could improve total margins in coming years.
- Network optimization and efficiency programs could lower costs and support profitability if implemented successfully.
- Expansion in international markets with value-added protein products could bring growth in high-demand categories.
Threats
- Volatility in grain, feed, cattle and hog prices can directly affect margins.
- Tariffs and changes in trade policy can reduce access to export markets and raise sourcing costs.
- Animal disease outbreaks can close export markets and reduce demand for the company's products.
Risks
- Commodity and input costshigh
The company does not fully hedge commodity price changes, and cost increases might not be fully passed through to prices.
- Customer concentrationhigh
A single large customer accounts for a significant share of sales, and an interruption of that relationship could have a material impact if not replaced.
- Legal contingency accrualsmedium
The company has recorded significant legal contingency accruals in recent years, and new claims could affect operating results.
- Controlling shareholder influencemedium
Holders of most of the voting power can influence major decisions, including mergers, which could discourage a change of control that other shareholders favor.
- Trade and animal disease riskslow
Border closures due to animal disease or tariffs could reduce access to export markets.
Investment thesis
What would need to be true (bull case)
- If growth in the Chicken segment continues and the brands keep gaining share, the company could exceed its adjusted profit outlook for fiscal 2026.
- Margin improvement in Prepared Foods, supported by well-known brands, could support long-term profitability.
- Efficiency programs and network optimization could generate savings that offset cost pressure.
What would break the thesis
- If cattle supply remains limited, the Beef segment could keep reporting losses and weigh on total profit.
- High raw material and energy costs might not be fully offset by pricing, especially if competition intensifies.
- Legal accruals can reduce results from one quarter to the next, and their timing is hard to anticipate.
What to watch
- Delivery of total adjusted operating income within the 2.1 to 2.3 billion USD outlook2026
- Trend in the Beef segment loss against the outlook rangeQ4 2026
- Confirmation of free cash flow within the forecast range2026
- Annual 10-K with updated segment figures after the change in segment reportingnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Tyson Foods, Inc. (NYSE: TSN), founded in 1935 and headquartered in Springdale, Arkansas, is a global food company focused on protein, with brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, State Fair, Aidells and ibp. According to the 10-K, it had about 133,000 employees on September 27, 2025. Its model rests on vertical integration, from breeding and feed to processing and distribution, most notably in chicken, where Cobb-Vantress is one of the leading breeding stock suppliers in the world. The company sold products in about 140 countries and regions in fiscal 2025, and exports represent less than 10% of its business.
Sales depend on a small number of large customers. Walmart accounted for roughly 18.7% of consolidated sales in fiscal 2025, so an extended discontinuance of that relationship could have a material impact if not replaced. Sales go to grocery retailers, foodservice distributors, restaurants, warehouse clubs and institutional buyers such as schools and the military.
Control is concentrated. Tyson Limited Partnership and members of the Tyson family together hold control of approximately 71.94% of the total voting power, which gives them substantial influence over major corporate decisions. The company relies on the controlled company exemptions from certain New York Stock Exchange governance requirements.
Segments
Chicken
The Chicken segment covers raising and processing chickens with contract farmers, and producing fresh, frozen and value-added products such as nuggets and breaded strips. Its segment operating margin was 8.5% in fiscal 2025, and in the third quarter of fiscal 2026 segment sales were 4,255 million USD with average prices up 2.2%. According to the results release, it has been the main recent growth driver.
Beef and Pork
Beef and Pork process live animals and sell primal cuts and ready-to-sell products. Beef posted operating losses in fiscal 2025 and in the third quarter of fiscal 2026, reflecting limited supply of market-ready cattle and high costs, while Pork returned to operating profit in the third quarter of fiscal 2026 with a 3.8% margin.
Market context
Domestic protein production (beef, pork, chicken and turkey) decreased slightly in fiscal 2025 according to USDA data cited in the 10-K, but increased in the third quarter of fiscal 2026 compared with the same period a year earlier. For fiscal 2026 the USDA projects total protein production to increase about 1%, and the company notes that supply of market-ready cattle remains limited. Geopolitical tensions in the Middle East have increased volatility in energy and commodity markets, affecting transportation, energy and cooking oil costs.
Changes in trade policy and tariffs may affect exports, which account for less than 10% of the business, mainly chicken leg quarters and paws, boxed beef and variety meats. The company says tariffs could change prices and demand in affected countries.
Trends
- Recovery in the Chicken segmenttailwind
The company reported consecutive quarters of growth in Chicken, with higher adjusted segment profit in the third quarter of fiscal 2026, partly offsetting losses in Beef.
- Cattle herd rebuilding cycleheadwind
Limited supply of market-ready cattle and uncertainty about the timing of the herd rebuild could keep costs high for the Beef segment.
- Raw material and energy costsmixed
Higher meat costs and volatile energy and freight costs affect Prepared Foods and International margins, although the company seeks to offset them through pricing.
- Trade policy and tariffsheadwind
Tariffs and import restrictions could reduce demand for exports but may also shift domestic pricing and commodity costs.
Competitive position
Tyson's products compete with those of other food producers and processors and with prepared food manufacturers, both domestically and in international markets. According to the 10-K, the main competitive elements are advertising, promotions, price, product safety and quality, brand identification, innovation and customer service.
The company notes that competitive pressure may force price reductions or higher marketing spending, which could weigh on margins if sales volumes do not rise to offset the lower prices.
- Other US meat and chicken processors
Direct competitors in chicken, pork and beef in the domestic market, referred to generically in the 10-K.
- International chicken producers
Competitors in export markets and Asia-Pacific, where Tyson operates through subsidiaries and joint ventures.
- Frozen prepared food manufacturers
Competitors for the Prepared Foods segment, where they compete for freezer shelf space and brand loyalty.
- Private-label retailers
Private-label products may attract consumers during periods of economic uncertainty, as the 10-K warns.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
- L.A. home once owned by Mike Tyson’s former wife, actress Robin Givens, is on the market for $3.5 millionMarketWatch — Top Stories · 04 Nov 2026 · EN
- „Nu eram o ființă umană, eram un produs”. Mike Tyson, mărturisiri tulburătoare la 60 de ani despre droguri, rușine și omul care l-a salvatMediafax · 12 Oct 2026 · RO
- Interes uriaș pentru duelul Tyson Fury vs. Anthony Joshua – Biletele s-au epuizat într-o orăG4Media · 10 Oct 2026 · RO
- Tyson Fury vs Anthony Joshua fight confirmed, but is the bout too late?Al Jazeera — World · 01 Oct 2026 · EN
- Netflix în octombrie. Documentare despre Mike Tyson, Michael Schumacher și Matthew PerryProfit.ro · 01 Oct 2026 · RO
- Netflix în octombrie. Documentare despre Mike Tyson, Michael Schumacher și Matthew Perry - Profit.roProfit.ro · 01 Oct 2026 · RO
- Vance, RFK Jr., Mike Tyson to speak at MAHA Summit in DCThe Hill · 28 Sept 2026 · EN
- A fost stabilită data luptei anului din boxul profesionist: Anthony Joshua și Tyson Fury se întâlnesc în decembrieSpotMedia.ro · 26 Sept 2026 · RO
- Tyson Fury to face British rival Anthony Joshua in Cardiff on December 11Al Jazeera — World · 24 Sept 2026 · EN
- Here are Friday's biggest analyst calls: Nvidia, Apple, Netflix, Alphabet, Tyson Foods, Yeti, Meta, Amazon & moreCNBC — Top News · 18 Sept 2026 · EN
- Tyson Foods is set to come back on several tailwinds, JPMorgan saysCNBC — Top News · 18 Sept 2026 · EN
- Is Tyson Foods Stock Underperforming the Nasdaq?Yahoo Finance — News · 18 Sept 2026 · EN
- Tyson Foods CEO-Elect Schomburger Buys $1 Million in Stock. What Is His Confidence Telling Investors?Yahoo Finance — News · 10 Sept 2026 · EN
- Tyson issues another profit warningYahoo Finance — News · 04 Sept 2026 · EN
- Severe US Cattle Shortage Eats Into Meatpacker Tyson’s EarningsYahoo Finance — News · 04 Sept 2026 · EN
- Tyson Foods (TSN)’s Beef Woes Put the Recovery Story to the TestYahoo Finance — News · 04 Sept 2026 · EN
- 🔎 Under the Radar: Tyson Stock Plunges as Beef Business Weighs on OutlookYahoo Finance — News · 03 Sept 2026 · EN
- Tyson Foods cuts annual profit forecast again as beef pressure drains marginsCNBC — Top News · 03 Sept 2026 · EN
- Tyson Cuts Profit Outlook Again as Beef Segment WorsensBloomberg Markets · 03 Sept 2026 · EN
- Tyson Fury confirms Anthony Joshua fight at NYC’s Madison Square GardenAl Jazeera — World · 02 Sept 2026 · EN
SEC filings
- Current report03 Sept 2026Regulation FD disclosure · Financial statements and exhibits
- Current report24 Aug 2026Other events · Financial statements and exhibits
- Current report24 Aug 2026Material agreement · Creation of a direct financial obligation · Other events · Financial statements and exhibits
- Current report13 Aug 2026Regulation FD disclosure
- Current report11 Aug 2026Material agreement · Other events · Financial statements and exhibits
- Current report10 Aug 2026Other events · Financial statements and exhibits
- Quarterly report03 Aug 2026
- Current report03 Aug 2026Results of operations · Financial statements and exhibits
- Current report18 Jun 2026Departure or appointment of officers · Financial statements and exhibits
- Current report (amendment)17 Jun 2026Departure or appointment of officers · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-09-27 · SEC / Tyson Foods, Inc. · 10 Nov 2025
- [2] Form 10-Q, quarter ended 2026-06-27 · SEC / Tyson Foods, Inc. · 03 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Tyson Foods, Inc. · 03 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.