Nomad Foods Limited
Description
Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally. The company offers frozen fish products, including fish fingers, coated fish, and natural fish; ready-to-cook vegetable products, such as peas and spinach; and frozen poultry and meat products comprising nuggets, grills, and burgers. It also provides meal products that include ready-to-cook noodles, pasta, lasagna, pancakes, and other ready-made meals; ice creams, such as in-home and out-of-home ice creams; and other products consisting of soups, pizzas, bakery goods, and meat substitutes. The company sells its products to supermarkets and food retail chains primarily under the Birds Eye, Green Cuisine, iglo, Findus, Aunt Bessie's, Goodfella's, Frikom, Ledo, La Cocinera, and Belviva brand names. Nomad Foods Limited was founded in 2014 and is headquartered in Feltham, the United Kingdom.
About
CEO
Mr. Stefan Descheemaeker
Employees
6,993
Instrument type
Common Stock
Sector
Consumer Defensive
Industry
Packaged Foods
MIC code
XNYS
Address
No. 1 New Square, Feltham, TW14 8HA, United Kingdom
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Oscillators
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Summary
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Moving Averages
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Nov 14, 2024 | 0.51 | 0.55 | 0.04 | 7.84% |
| Aug 7, 2024 | 0.42 | 0.44 | 0.02 | 4.76% |
| May 9, 2024 | 0.37 | 0.37 | 0.00 | 0.00% |
| Feb 29, 2024 | 0.31 | 0.32 | 0.01 | 3.23% |
| Nov 9, 2023 | 0.38 | 0.43 | 0.05 | 13.16% |
Earnings estimate
|
Next Quarter
(Mar 2025)
|
Next Year
(Dec 2025)
|
|||
|---|---|---|---|---|
| Number of analysts | — | 3 | — | 5 |
| Average estimate | — | 0.41 | — | 1.84 |
| Low estimate | — | 0.39 | — | 1.83 |
| High estimate | — | 0.44 | — | 1.85 |
| Last year EPS | — | 0.37 | — | 1.74 |
[stock_revenue_estimate]
Growth estimates
Current qtr
17.290%
Next qtr. (Mar 2025)
11.780%
Current year
8.040%
Next year (Dec 2025)
5.510%
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 3.04B | 2.94B | 2.61B | 2.52B | 2.32B |
| Cost of revenue | 2.19B | 2.12B | 1.86B | 1.75B | 1.63B |
| Gross profit | 858.70M | 815.30M | 744.30M | 762.50M | 697.90M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | — | — | — | — | — |
| Other operating expenses | 445.80M | 391.20M | 356.30M | 382.70M | 359.90M |
| Operating income | 412.90M | 424.10M | 388.00M | 379.80M | 338.00M |
| Non operating interest income | |||||
| Income | 5.80M | 600,000 | 100,000 | 700,000 | 2.50M |
| Expense | 131.90M | 82.60M | 61.50M | 66.70M | 82.80M |
| Other income expense | -26.80M | -18.40M | -70.00M | -16.30M | -45.40M |
| Pretax income | 253.60M | 321.00M | 236.70M | 295.50M | 210.30M |
| Tax provision | 60.90M | 71.20M | 55.70M | 70.40M | 56.70M |
| Net income | 192.70M | 249.80M | 181.00M | 225.10M | 153.60M |
| Basic EPS | 1.13 | 1.43 | 1.02 | 1.16 | 0.80 |
| Diluted EPS | 1.13 | 1.43 | 1.02 | 1.14 | 0.78 |
| Basic average shares | 166.37M | 168.57M | 171.87M | 187.21M | 185.28M |
| Diluted average shares | 166.37M | 168.57M | 171.87M | 187.21M | 185.28M |
| EBITDA | 507.30M | 510.60M | 439.80M | 446.10M | 406.80M |
| Net income from continuing op. | 192.70M | 249.80M | 181.00M | 225.10M | 153.60M |
| Minority interests | — | — | — | 100,000 | 400,000 |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | 6.42B | 6.33B | 6.17B | 5.58B | 5.90B |
| Current assets | |||||
| Cash | 412.70M | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 412.70M | 369.40M | 254.00M | 393.10M | 826.00M |
| Other short term investments | — | — | — | 25.00M | 25.00M |
| Accounts receivable | 208.30M | 211.20M | 182.80M | 141.20M | 143.60M |
| Other receivables | 55.10M | 50.50M | 47.70M | 40.40M | 39.00M |
| Inventory | 446.40M | 457.10M | 410.60M | 344.30M | 323.20M |
| Prepaid assets | — | 15.90M | 15.40M | 9.20M | 8.00M |
| Restricted cash | 200,000 | 300,000 | 200,000 | 100,000 | 100,000 |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | 1.20M | 19.90M | 20.20M | 5.50M | 3.90M |
| Other current assets | 500,000 | 1.80M | 9.50M | 15.40M | 35.40M |
| Non current assets | |||||
| Properties | — | — | 261.50M | — | — |
| Land and improvements | 239.20M | 226.00M | 216.70M | 165.30M | 156.20M |
| Machinery furniture equipment | 614.80M | 556.80M | 529.30M | 401.90M | 355.30M |
| Construction in progress | — | — | — | — | — |
| Leases | 42.80M | 35.00M | 44.80M | 38.50M | 62.80M |
| Accumulated depreciation | -333.10M | -274.90M | -241.40M | -183.50M | -151.90M |
| Goodwill | 6.68B | 6.66B | 6.65B | 5.96B | 5.81B |
| Investment properties | — | — | — | — | — |
| Financial assets | 700,000 | 200,000 | — | 17.20M | 17.50M |
| Intangible assets | 2.47B | 2.46B | 2.46B | 2.16B | 2.08B |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 114.00M | 108.50M | 137.20M | 114.60M | 98.30M |
| Total liabilities | 3.82B | 3.72B | 3.87B | 3.45B | 3.35B |
| Current liabilities | |||||
| Accounts payable | 476.10M | 496.70M | 507.00M | 453.40M | 365.90M |
| Accrued expenses | 186.20M | 126.40M | 120.40M | 134.50M | 109.40M |
| Short term debt | 34.60M | 25.50M | 29.10M | 33.20M | 29.00M |
| Deferred revenue | — | — | — | — | — |
| Tax payable | 220.10M | 208.00M | 223.10M | 190.30M | 242.90M |
| Pensions | — | — | — | — | — |
| Other current liabilities | 12.20M | 3.70M | 7.30M | 35.50M | 12.10M |
| Non current liabilities | |||||
| Long term debt | 2.11B | 2.14B | 2.20B | 1.74B | 1.85B |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 425.10M | 445.70M | 437.60M | 427.10M | 398.20M |
| Derivative product liabilities | 97.80M | 56.60M | 20.80M | 89.50M | 32.80M |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 1.43B | 1.60B | 1.62B | 1.62B | 2.10B |
| Retained earnings | 1.06B | 886.60M | 387.40M | 191.60M | -11.80M |
| Other shareholders equity | 76.40M | 109.10M | 281.60M | 305.70M | 451.70M |
| Total shareholders equity | 2.59B | 2.61B | 2.30B | 2.13B | 2.56B |
| Additional paid in capital | — | — | — | — | — |
| Treasury stock | — | — | — | — | — |
| Minority interest | — | — | — | — | -1.20M |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||
| Net Income | 192.70M | 249.80M | 181.00M | 225.10M | 153.60M | 170.50M | 136.50M | 36.40M | -167.50M | -109.10M | -41.20M |
| Depreciation | 95.00M | 88.60M | 71.60M | 67.60M | 68.30M | 46.30M | 42.40M | 51.10M | — | 30.40M | 27.80M |
| Deferred Taxes | 60.90M | 71.20M | 55.70M | 70.40M | 56.70M | 56.60M | 32.00M | 39.60M | — | 41.80M | 2.00M |
| Stock-Based Compensation | 24.10M | 8.10M | 5.10M | 9.00M | 14.90M | 13.00M | 2.60M | 1.20M | — | — | — |
| Other Non-Cash Items | 91.70M | 62.30M | 110.90M | 72.20M | 111.80M | 36.00M | 12.10M | 147.40M | 166.00M | 325.90M | 260.10M |
| Accounts Receivable | 300,000 | -38.30M | 24.10M | -1.80M | -34.40M | -10.80M | -1.60M | -8.80M | — | 10.70M | -700,000 |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | 15.60M | -64.10M | -22.60M | -10.70M | 36.70M | -24.20M | 16.10M | -24.70M | — | -2.40M | 18.20M |
| Operating Cash Flow | 480.30M | 377.60M | 425.80M | 431.80M | 407.60M | 287.40M | 240.10M | 242.20M | -1.50M | 297.30M | 266.20M |
| Investing Activities | |||||||||||
| Capital Expenditures | -82.40M | -79.10M | -79.20M | -58.70M | -47.30M | -41.60M | -42.60M | -38.00M | — | -24.30M | -26.50M |
| Net Intangibles | — | — | — | — | — | -6.60M | -4.60M | -4.40M | — | -2.00M | -1.80M |
| Net Acquisitions | — | 400,000 | -597.30M | -112.90M | -1.50M | -471.60M | — | -8.00M | — | — | — |
| Purchase of Investments | — | — | — | -25.00M | -25.00M | — | — | — | -478.80M | — | — |
| Sale of Investments | 300,000 | — | 16.50M | 25.20M | — | — | — | — | 183.20M | — | — |
| Investing Cash Flow | -82.10M | -78.70M | -660.00M | -171.40M | -73.80M | -513.20M | -42.60M | -54.00M | -295.60M | -24.30M | -26.50M |
| Financing Activities | |||||||||||
| Long-Term Debt Issuance | 6.00M | 799.30M | 800.00M | — | 2.00M | 355.60M | 1.47B | — | 100,000 | 1.62B | 400,000 |
| Long-Term Debt Payments | -42.70M | -942.70M | -428.10M | -32.00M | -44.00M | -5.90M | -1.47B | -700,000 | -100,000 | -1.86B | — |
| Other Financing Charges | -3.70M | 119.20M | -20.60M | -5.40M | -12.30M | -1.80M | -14.80M | 3.90M | -8.00M | -12.10M | -1.20M |
| Financing Cash Flow | -218.40M | -53.90M | 251.10M | -664.60M | 299.80M | 348.00M | -193.00M | 3.20M | 353.50M | -249.00M | -800,000 |
| Other Cash Details | |||||||||||
| End Cash Position | 399.70M | 366.80M | 254.20M | 382.50M | 824.80M | 327.60M | 219.20M | 329.50M | 126.80M | 219.20M | 317.10M |
| Income Tax Paid | — | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | — | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 348.40M | 224.70M | 227.10M | 398.30M | 268.10M | 279.70M | 151.20M | 239.70M | -500,000 | 241.10M | 209.00M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| Undiscovered Managers Behavioral Value Fund | Sep 30, 2024 | 4,327,504 | 75.95M | 2.66% |
| Allspring Special Small Cap Value Fund | Nov 30, 2024 | 3,823,928 | 67.11M | 2.35% |
| Fidelity Low-Priced Stock Fund | Oct 31, 2024 | 3,192,566 | 56.03M | 1.96% |
| Price (T.Rowe) Small-Cap Value Fund | Sep 30, 2024 | 2,305,743 | 40.47M | 1.41% |
| MFS Series Trust XIII-MFS New Discovery Value Fund | Nov 30, 2024 | 2,077,405 | 36.46M | 1.27% |
| Brown Advisory Fds-Brown Advisory Small Cap Fund Value Fd | Nov 30, 2024 | 1,654,522 | 29.04M | 1.02% |
| Fidelity Series Small Cap Opportunities Fund | Oct 31, 2024 | 1,648,149 | 28.93M | 1.01% |
| AB Discovery Value Fund | Dec 31, 2024 | 1,636,481 | 28.72M | 1.00% |
| John Hancock Trust-Disciplined Value International Fund | Nov 30, 2024 | 1,481,028 | 25.99M | 0.91% |
| Price (T.Rowe) U.S. Small-Cap Value Equity Trust | Sep 30, 2024 | 1,277,038 | 22.41M | 0.78% |
Article
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Company Increases Dividend by 13% as Strong Cash Flow Continues WOKING, England , Jan. 30, 2025 /PRNewswire/ -- Nomad Foods Limited (NYSE: NOMD) today announced that its Board of Directors has declared a 2025 quarterly cash dividend of $0.17 per share; a 13% increase from its 2024 quarterly payout. This marks the Company's first dividend increase since initiating its quarterly dividend in January 2024.
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Execution of the commercial flywheel is driving strong market share and volume growth 2025 is expected to be the 10th consecutive year of revenue and Adjusted EBITDA growth as Nomad Foods celebrates its 10th anniversary as a public company WOKING, England , Jan. 14, 2025 /PRNewswire/ -- Nomad Foods Limited (NYSE: NOMD) today provided an update on its in-market performance and detailed its strategy and tactics to sustain momentum. The Company continued to gain market share through the fourth quarter with accelerating volume growth as investments behind its Commercial Flywheel delivered results.
Jan 14, 2025
