LWAY · Lifeway Foods, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $212.50M | $186.82M | $160.12M | $141.57M | $119.06M | $102.03M |
| Cost of Revenue | $154.29M | $138.25M | $117.68M | $114.78M | $90.36M | $75.09M |
| Gross Profit | $58.21M | $48.57M | $42.44M | $26.79M | $28.71M | $26.93M |
| R&D | - | - | - | - | - | - |
| SG&A | $21.60M | $19.44M | $13.13M | $12.59M | $11.61M | $11.66M |
| Total Operating Expenses | $42.03M | $34.72M | $25.45M | $24.44M | $22.83M | $22.01M |
| D&A | $3.98M | $3.39M | $3.16M | $2.97M | $2.87M | $3.24M |
| Operating Income | $16.17M | $13.85M | $17.00M | $2.35M | $5.88M | $4.92M |
| Interest Expense | $77.0K | $105.0K | $384.0K | $267.0K | $116.0K | $118.0K |
| Income Tax | $5.83M | $4.94M | $5.28M | $917.0K | $2.31M | $1.60M |
| Net Income | $13.86M | $9.03M | $11.37M | $924.0K | $3.31M | $3.23M |
| EPS - Basic | $0.91 | $0.61 | $0.77 | $0.06 | $0.21 | $0.21 |
| EPS - Diluted | $0.89 | $0.60 | $0.75 | $0.06 | $0.21 | $0.21 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.57M | $16.73M | $13.20M | $4.44M | $9.23M | $7.93M |
| Accounts Receivable | $16.64M | $15.42M | $13.88M | $11.41M | $9.93M | $8.00M |
| Inventory | $11.89M | $8.68M | $9.10M | $9.63M | $8.29M | $6.93M |
| Accounts Payable | $11.01M | $10.40M | $9.98M | $7.98M | $6.61M | $5.59M |
| Current Assets | $37.06M | $43.60M | $38.20M | $26.98M | $29.05M | $24.05M |
| Total Assets | $105.61M | $90.55M | $81.65M | $69.00M | $70.87M | $60.07M |
| Current Liabilities | $16.64M | $15.50M | $16.62M | $13.04M | $12.06M | $8.44M |
| Long-term Debt | - | - | $2.75M | $2.48M | $3.47M | - |
| Total Liabilities | $19.79M | $18.64M | $21.22M | $21.43M | $21.74M | $13.21M |
| Stockholders' Equity | $85.82M | $71.91M | $60.44M | $47.57M | $49.13M | $46.85M |
| Retained Earnings | $88.68M | $74.82M | $65.80M | $54.43M | $53.51M | $50.20M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $10.95M | $12.96M | $16.94M | $3.99M | $5.56M | $6.38M |
| Investing Cash Flow | ($22.04M) | ($6.68M) | ($4.41M) | ($4.03M) | ($7.14M) | ($1.89M) |
| Financing Cash Flow | ($65.0K) | ($2.75M) | ($3.78M) | ($4.75M) | $2.88M | ($405.0K) |
| CapEx | $27.36M | $6.70M | $4.35M | $3.45M | $1.92M | $1.90M |
| Free Cash Flow | ($16.41M) | $6.26M | $12.59M | $538.0K | $3.64M | $4.49M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 27.4% | 26.0% | 26.5% | 18.9% | 24.1% | 26.4% |
| Operating margin | 7.6% | 7.4% | 10.6% | 1.7% | 4.9% | 4.8% |
| EBITDA margin | 9.5% | 9.2% | 12.6% | 3.8% | 7.4% | 8.0% |
| Net margin | 6.5% | 4.8% | 7.1% | 0.7% | 2.8% | 3.2% |
| Free cash flow margin | -7.7% | 3.4% | 7.9% | 0.4% | 3.1% | 4.4% |
| FCF / Net income | -1.18 | 0.69 | 1.11 | 0.58 | 1.10 | 1.39 |
| R&D / Revenue | - | - | - | - | - | - |
| SG&A / Revenue | 10.2% | 10.4% | 8.2% | 8.9% | 9.8% | 11.4% |
| Effective tax rate | 29.6% | 35.4% | 31.7% | 49.8% | 41.0% | 33.1% |
| Return on assets | 13.1% | 10.0% | 13.9% | 1.3% | 4.7% | 5.4% |
| Return on equity | 16.1% | 12.6% | 18.8% | 1.9% | 6.7% | 6.9% |
| Return on invested capital | - | - | 18.4% | 2.4% | 6.6% | - |
| Liquidity | ||||||
| Current ratio | 2.23 | 2.81 | 2.30 | 2.07 | 2.41 | 2.85 |
| Quick ratio | 1.51 | 2.25 | 1.75 | 1.33 | 1.72 | 2.03 |
| Cash ratio | 0.33 | 1.08 | 0.79 | 0.34 | 0.77 | 0.94 |
| Leverage | ||||||
| Debt / Equity | - | - | 0.05 | 0.05 | 0.07 | - |
| Debt / Assets | - | - | 0.03 | 0.04 | 0.05 | - |
| Debt / EBITDA | - | - | 0.14 | 0.47 | 0.40 | - |
| Interest coverage | 210.0x | 131.9x | 44.3x | 8.8x | 50.7x | 41.7x |
| Equity multiplier | 1.23 | 1.26 | 1.35 | 1.45 | 1.44 | 1.28 |
| Liabilities / Assets | 0.19 | 0.21 | 0.26 | 0.31 | 0.31 | 0.22 |
| Efficiency | ||||||
| Asset turnover | 2.01 | 2.06 | 1.96 | 2.05 | 1.68 | 1.70 |
| Inventory turnover | 12.98 | 15.93 | 12.93 | 11.92 | 10.91 | 10.84 |
| Days sales outstanding | 29d | 30d | 32d | 29d | 30d | 29d |
| Days inventory outstanding | 28d | 23d | 28d | 31d | 33d | 34d |
| Days payable outstanding | 26d | 27d | 31d | 25d | 27d | 27d |
| Cash conversion cycle | 31d | 26d | 29d | 35d | 37d | 35d |
| Valuation | ||||||
| P / E | 27.2x | 41.3x | 17.9x | 92.5x | 21.9x | 25.8x |
| P / B | 4.4x | 5.2x | 3.4x | 1.8x | 1.5x | 1.8x |
| P / S | 1.8x | 2.0x | 1.3x | 0.6x | 0.6x | 0.8x |
| EV / EBITDA | 18.4x | 20.8x | 9.5x | 16.0x | 7.6x | 9.5x |
| Growth | ||||||
| Revenue growth (YoY) | 13.7% | 16.7% | 13.1% | 18.9% | 16.7% | -1.3% |
| Revenue CAGR (3y) | 14.5% | 16.2% | 16.2% | 11.1% | 0.0% | - |
| Revenue CAGR (5y) | 15.8% | 12.6% | 6.1% | - | - | -5.8% |
| Gross profit growth (YoY) | 19.8% | 14.5% | 58.4% | -6.7% | 6.6% | 21.6% |
| Operating income growth (YoY) | 16.7% | -18.5% | 623.5% | -60.1% | 19.4% | - |
| Net income growth (YoY) | 53.6% | -20.6% | 1130.2% | -72.1% | 2.4% | 613.5% |
| EPS growth (YoY) | 48.3% | -20.0% | 1150.0% | -71.4% | 0.0% | 600.0% |
| EPS CAGR (3y) | 145.7% | 41.9% | 52.9% | 26.0% | - | - |
| EPS CAGR (5y) | 33.5% | 82.1% | - | - | -0.9% | - |
| FCF growth (YoY) | - | -50.2% | 2240.1% | -85.2% | -18.9% | 70.5% |
| FCF CAGR (5y) | - | 18.9% | - | - | 14.3% | -1.1% |
| Book value growth (YoY) | 19.3% | 19.0% | 27.0% | -3.2% | 4.9% | 8.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$424.99M totalNet Sales$212.50M · 50.0%
Drinkable Kefirotherthan Pro Bugs$181.42M · 42.7%
Cheese$16.57M · 3.9%
Cream And Other$8.69M · 2.0%
Drinkable Yogurt$2.28M · 0.5%
Pro Bugs Kefir$2.21M · 0.5%
Other Dairy$1.31M · 0.3%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
5.15
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
4/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✗Cash flow > net income
- -Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Dairy Products
| Company | Revenue (last FY) | Net margin | ROE |
|---|---|---|---|
| TDNT | $224.7K | -1373.5% | 9.9% |
Comparing Lifeway Foods against the 1 most active filer in the same SIC group.
Dividends
$0.00/share trailing 12 months
| Ex-date | Per share |
|---|---|
| May 29, 2013 | $0.0800 |
| May 25, 2012 | $0.0700 |