Smithfield Foods, Inc. (SFD) Balance Sheet

NASDAQ: SFDAssets, liabilities, debt and equity over 10 years.

SFD balance sheet, 2025

December 31, 2025 · U.S. dollars

$12.18B assets = $5.11B liabilities + $7.07B equity

Both columns are drawn to the same scale: what SFD owns equals what it owes plus shareholders’ equity. Hover a block for its value.

SFD financial health

Current ratio2.97

Comfortable · current assets cover current liabilities 2.97×

Debt / equity0.35

Low leverage · $0.35 of debt for each $1 of equity

Equity / assets55.9%

Equity-funded · of assets funded by shareholders

Cash / debt64.2%

Partial cover · cash & short-term investments vs total debt

Goodwill & intangibles23.7%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

SFD balance sheet trends, 2009–2025

Smithfield Foods, Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	$7.71B2009	$12.18B2025	+5.2%/yr
Total liabilities	$4.95B2009	$5.11B2025	+0.4%/yr
Shareholders’ equity	$2.76B2009	$6.80B2025	+10.6%/yr
Cash & short-term investments	$451.2M2009	$1.54B2025	+14.6%/yr
Total debt	$3.01B2009	$2.40B2025	−2.5%/yr
Net cash (debt)	−$2.56B2009	−$857.0M2025	+$1.7B
Working capital	$2.13B2009	$3.42B2025	+$1.3B
Book value per share	$17.542009	$17.322025	−0.1%/yr
Current ratio	2.792009	2.972025	+0.18
Debt / equity	1.092009	0.352025	−0.74
Shares outstanding	157.1M2009	392.7M2025	+10.7%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

SFD assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

SFD liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

SFD debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

SFD balance sheet

Smithfield Foods, Inc. annual balance sheet
	2025	2024	2023	2022	2015	2014	2012	2011	2010	2009
Assets
Cash & short-term investments	$1.54B	$943.0M	$687.0M	$547.0M	$704.9M	$433.5M	$310.6M	$324.3M	$374.7M	$451.2M
Cash & equivalents	$1.54B	$943.0M	$687.0M	$547.0M	$704.9M	$433.5M	$310.6M	$324.3M	$374.7M	$451.2M
Receivables	$1.02B	$558.0M	$577.0M	$756.0M	$760.0M	$864.0M	$663.2M	$624.7M	$709.6M	$621.5M
Inventory	$2.33B	$2.41B	$2.54B	$2.93B	$2.10B	$2.21B	$2.35B	$2.07B	$2.02B	$1.86B
Other current assets	$276.0M	$289.0M	$1.12B	$1.31B	$176.4M	$244.3M	$229.7M	$277.6M	$233.7M	$387.6M
Total current assets	$5.17B	$4.20B	$4.92B	$5.54B	$3.74B	$3.75B	$3.55B	$3.30B	$3.34B	$3.32B
Property, plant & equipment (net)	$3.61B	$3.51B	$3.73B	$3.79B	$2.87B	$2.75B	$2.30B	$2.28B	$2.31B	$2.36B
Goodwill & intangible assets	$2.88B	$2.88B	$2.90B	$2.90B	$2.99B	$3.01B	$1.17B	$1.15B	$1.18B	$1.21B
Long-term investments	$209.0M	$202.0M	$191.0M	$224.0M	$0	$0	$0	$0	$0	$0
Other non-current assets	$306.0M	$260.0M	$1.58B	$1.40B	$300.5M	$622.4M	$693.4M	$696.0M	$784.9M	$817.4M
Total assets	$12.18B	$11.05B	$13.32B	$13.85B	$9.89B	$10.13B	$7.72B	$7.42B	$7.61B	$7.71B
Liabilities
Accounts payable	$856.0M	$777.0M	$789.0M	$1.01B	$686.1M	$675.1M	$429.1M	$415.8M	$434.4M	$383.8M
Short-term debt	$74.0M	$73.0M	$132.0M	$81.0M	$30.3M	$48.1M	$676.1M	$63.5M	$143.7M	$89.7M
Total current liabilities	$1.74B	$1.71B	$2.45B	$2.59B	$1.54B	$1.47B	$1.75B	$1.14B	$1.23B	$1.19B
Long-term debt	$2.00B	$1.98B	$2.01B	$2.03B	$0	$0	$0	$0	$0	$0
Lease obligations	$393.0M	$358.0M	$388.0M	$431.0M	—	—	—	—	—	—
Other long-term liabilities	$1.37B	$1.31B	$1.37B	$1.66B	$3.47B	$4.07B	$2.86B	$2.90B	$2.84B	$3.76B
Total liabilities	$5.11B	$5.00B	$5.83B	$6.28B	$5.02B	$5.54B	$4.61B	$4.03B	$4.06B	$4.95B
Shareholders' equity
Common stock & paid-in capital	—	—	—	—	—	—	$69.5M	$78.7M	$83.0M	$83.0M
Retained earnings (deficit)	$3.78B	$3.18B	$3.59B	$3.89B	$1.01B	$590.8M	$2.32B	$2.33B	$2.06B	$1.54B
Accumulated other comprehensive income	−$314.0M	−$452.0M	−$500.0M	−$708.0M	−$377.7M	−$218.6M	−$616.2M	−$510.9M	−$169.2M	−$427.5M
Minority interest	$264.0M	$225.0M	$246.0M	$197.0M	—	—	—	—	—	—
Total shareholders' equity	$6.80B	$6.06B	$7.49B	$7.57B	$4.87B	$4.59B	$3.10B	$3.39B	$3.55B	$2.76B
Key figures
Total debt	$2.40B	$2.36B	$2.46B	$2.47B	$2.29B	$2.73B	$2.51B	$1.96B	$2.12B	$3.01B
Net cash (debt)	−$857.0M	−$1.42B	−$1.78B	−$1.92B	−$1.58B	−$2.29B	−$2.19B	−$1.64B	−$1.75B	−$2.56B
Working capital	$3.42B	$2.50B	$2.47B	$2.95B	$2.20B	$2.28B	$1.81B	$2.16B	$2.11B	$2.13B
Tangible book value	$3.92B	$3.18B	$4.59B	$4.67B	$1.89B	$1.58B	$1.92B	$2.24B	$2.37B	$1.54B
Book value per share	$17.32	$15.41	$19.05	$19.26	$12.40	$11.68	$21.15	$20.72	$21.21	$17.54
Shares outstanding	392.7M	393.1M	393.1M	393.1M	393.1M	393.1M	146.4M	163.5M	167.2M	157.1M
Current ratio	2.97	2.46	2.01	2.14	2.42	2.55	2.03	2.90	2.72	2.79
Quick ratio	1.47	0.88	0.52	0.50	0.95	0.88	0.56	0.84	0.88	0.90
Debt / equity	0.35	0.39	0.33	0.33	0.47	0.59	0.81	0.58	0.60	1.09
Equity / assets	55.9%	54.8%	56.2%	54.7%	49.3%	45.3%	40.1%	45.6%	46.6%	35.7%

Smithfield Foods, Inc. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Dec '23	Sep '16
Assets
Cash & short-term investments	$1.35B	$1.39B	$1.54B	$773.0M	$928.0M	$928.0M	$943.0M	$278.0M	$687.0M	$277.6M
Cash & equivalents	$1.35B	$1.39B	$1.54B	$773.0M	$928.0M	$928.0M	$943.0M	$278.0M	$687.0M	$277.6M
Receivables	$1.01B	$1.07B	$1.02B	$1.04B	$773.0M	$759.0M	$558.0M	$540.0M	$577.0M	$851.7M
Inventory	$2.38B	$2.35B	$2.33B	$2.47B	$2.29B	$2.38B	$2.41B	$2.65B	$2.54B	$2.31B
Other current assets	$266.0M	$232.0M	$276.0M	$313.0M	$303.0M	$262.0M	$289.0M	$251.0M	$1.12B	$121.0M
Total current assets	$5.01B	$5.03B	$5.17B	$4.59B	$4.29B	$4.33B	$4.20B	$3.72B	$4.92B	$3.57B
Property, plant & equipment (net)	$3.60B	$3.58B	$3.61B	$3.57B	$3.56B	$3.48B	$3.51B	$3.59B	$3.73B	$2.95B
Goodwill & intangible assets	$2.88B	$2.88B	$2.88B	$2.88B	$2.88B	$2.88B	$2.88B	$2.88B	$2.90B	$2.99B
Long-term investments	$213.0M	$209.0M	$209.0M	$202.0M	$203.0M	$197.0M	$202.0M	$192.0M	$191.0M	$0
Other non-current assets	$316.0M	$297.0M	$306.0M	$274.0M	$255.0M	$258.0M	$260.0M	$256.0M	$1.58B	$313.6M
Total assets	$12.01B	$12.00B	$12.18B	$11.52B	$11.19B	$11.15B	$11.05B	$10.65B	$13.32B	$9.82B
Liabilities
Accounts payable	$461.0M	$489.0M	$856.0M	$597.0M	$444.0M	$447.0M	$777.0M	$566.0M	$789.0M	$519.6M
Short-term debt	$675.0M	$675.0M	$74.0M	$72.0M	$71.0M	$58.0M	$73.0M	$66.0M	$132.0M	$768.9M
Total current liabilities	$1.95B	$2.09B	$1.74B	$1.48B	$1.34B	$1.39B	$1.71B	$1.51B	$2.45B	$2.13B
Long-term debt	$1.40B	$1.40B	$2.00B	$2.00B	$2.00B	$2.00B	$1.98B	$2.00B	$2.01B	$0
Lease obligations	$392.0M	$386.0M	$393.0M	$387.0M	$386.0M	$332.0M	$358.0M	$353.0M	$388.0M	—
Other long-term liabilities	$1.34B	$1.34B	$1.37B	$1.32B	$1.30B	$1.28B	$1.31B	$1.25B	$1.37B	$2.67B
Total liabilities	$4.70B	$4.83B	$5.11B	$4.80B	$4.64B	$4.68B	$5.00B	$4.77B	$5.83B	$4.80B
Shareholders' equity
Retained earnings (deficit)	$4.01B	$3.90B	$3.78B	$3.55B	$3.40B	$3.31B	$3.18B	$3.00B	$3.59B	$1.04B
Accumulated other comprehensive income	−$304.0M	−$325.0M	−$314.0M	−$414.0M	−$432.0M	−$408.0M	−$452.0M	−$363.0M	−$500.0M	−$275.8M
Minority interest	$311.0M	$311.0M	$264.0M	$257.0M	$245.0M	—	—	—	—	—
Total shareholders' equity	$7.00B	$6.86B	$6.80B	$6.47B	$6.30B	$6.22B	$5.83B	$5.60B	$7.24B	$4.95B
Key figures
Total debt	$2.40B	$2.39B	$2.40B	$2.39B	$2.39B	$2.33B	$2.36B	$2.37B	$2.46B	$2.33B
Net cash (debt)	−$1.05B	−$1.00B	−$857.0M	−$1.62B	−$1.46B	−$1.41B	−$1.42B	−$2.09B	−$1.78B	−$2.05B
Working capital	$3.05B	$2.94B	$3.42B	$3.11B	$2.95B	$2.94B	$2.50B	$2.21B	$2.47B	$1.44B
Tangible book value	$4.12B	$3.98B	$3.92B	$3.58B	$3.42B	$3.35B	$2.96B	$2.72B	$4.34B	$1.97B
Book value per share	$17.70	$17.39	$17.27	$16.39	$16.00	$15.84	$14.84	$14.25	$18.42	$12.60
Shares outstanding	395.8M	394.7M	393.9M	394.6M	393.8M	393.1M	393.1M	393.1M	393.1M	393.1M
Current ratio	2.56	2.41	2.97	3.10	3.21	3.11	2.46	2.46	2.01	1.67
Quick ratio	1.21	1.18	1.47	1.23	1.27	1.21	0.88	0.54	0.52	0.53
Debt / equity	0.34	0.35	0.35	0.37	0.38	0.38	0.40	0.42	0.34	0.47
Equity / assets	58.3%	57.2%	55.9%	56.1%	56.3%	55.8%	52.8%	52.6%	54.4%	50.5%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 24, 2026); data from EODHD.

SFD financial position

At the end of fiscal 2025 (December 31, 2025), Smithfield Foods had total assets of $12.2 billion (up 10.2% from a year earlier), total liabilities of $5.1 billion and shareholders' equity of $6.8 billion. It held $1.5 billion in cash and short-term investments against $2.4 billion of debt, net debt of $857.0 million. Its current ratio was 2.97. In the latest quarter (ended June 30, 2026) total assets were $12.0 billion and equity $7.0 billion.

Related: SFD income statement, SFD cash flow statement, SFD key metrics. See the SFD stock overview for the latest quote and news.

SFD balance sheet FAQ

What are Smithfield Foods's total assets?

Smithfield Foods reported total assets of $12.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $11.1 billion a year earlier.

How much debt does Smithfield Foods have?

Smithfield Foods had $2.4 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.35.

How much cash does Smithfield Foods have?

Smithfield Foods held $1.5 billion in cash and short-term investments at the end of fiscal 2025; with $2.4 billion of debt that is net debt of $857.0 million.

What is Smithfield Foods's book value?

Smithfield Foods's shareholders' equity (book value) was $6.8 billion at the end of fiscal 2025, or $17.32 per share.

What is Smithfield Foods's current ratio?

Smithfield Foods had current assets of $5.2 billion and current liabilities of $1.7 billion, a current ratio of 2.97 (it can cover its short-term obligations).

How much goodwill does Smithfield Foods have?

Smithfield Foods carried $2.9 billion of goodwill and intangible assets, 23.7% of total assets, at the end of fiscal 2025.