Added to YB: 2026-08-28
Pitch date: 2026-08-26
CALM [neutral]
Cal-Maine Foods, Inc.
-2.78%
current return
Author Info
Footnote Capital figures out what a company actually sells and why its customers keep buying before I ever look at the price. One detailed micro-cap profile per week. Sign up for the newsletter.
Company Info
Cal-Maine Foods, Inc., together with its subsidiaries, engages in the production, grading, packaging, marketing, and distribution of shell eggs, egg products, and prepared foods in the United Sates.
Market Cap
$3.9B
Pitch Price
$82.03
Price Target
N/A
Dividend
N/A
EV/EBITDA
6.39
P/E
12.53
EV/Sales
1.02
Sector
Food Products
Category
special_situation
The Egg That Cannot Be Priced - Cal-Maine Foods, Inc.
CALM (watchlist): Cal-Maine is a scaled, low-cost egg producer, but its valuation is effectively a wager on avian-flu timing: fiscal 2016, 2023 and 2025 generated nearly 70% of 14-year net income, while ordinary years averaged under $90M against roughly $2.7B of equity. Buying flood-year earnings risks overpaying; shorting is equally hazardous because flu is endemic and recurrent. A U.S. laying-flock vaccine could end the windfalls, but adoption remains blocked for now.
Read full article (18 min)