CAG · 10-K · 2026A · Full report

Liquidity and Cash Position

CONAGRA BRANDS INC. · 2026-07-15 · Importance 49 · Surprise 6 · Matches filing data

Management believes existing cash balances, operating cash flows, credit facilities, and access to capital markets provide sufficient liquidity to meet debt obligations, working capital needs, planned capex and anticipated dividends for at least the next twelve months. The Company generated $1.40 billion of cash from operating activities in fiscal 2026 and reported $218.0 million of cash and cash equivalents at May 31, 2026, compared with $68.0 million at May 25, 2025. The highest level of commercial paper borrowings during fiscal 2026 was $642.0 million and there were no outstanding borrowings under the Revolving Credit Facility as of May 31, 2026. The Company believes these sources will provide sufficient liquidity to meet near-term maturities and contractual obligations.

Key facts

• Revolving Credit Facility maximum aggregate principal amount $2.0 billion (subject to increase to $2.5 billion with lenders' consent); matures on June 27, 2030; unsecured; no outstanding borrowings as of May 31, 2026. source
• Cash generated from operating activities totaled $1.40 billion in fiscal 2026 versus $1.69 billion in fiscal 2025. source
• Cash used in financing activities totaled $1.52 billion in fiscal 2026 principally reflecting repayments of long-term debt of $1.03 billion, issuance of long-term debt totaling $1.0 billion, net short-term borrowing repayments of $770.5 million, cash dividends paid of $669.7 million, and common stock repurchases of $15.3 million. source
• Most restrictive debt agreement requires EBITDA to interest expense ratio >= 3.0 to 1.0 and funded debt to EBITDA <= 4.5 to 1.0, calculated on rolling four-quarter basis; we were in compliance as of May 31, 2026. source
• Generated $150.0 million of cash in fiscal 2026: $1.40 billion from operating activities, $262.6 million from investing activities, $1.52 billion used in financing activities, and $1.4 million increase due to FX effects. source
• Cash and cash equivalents were $218.0 million at May 31, 2026 and $68.0 million at May 25, 2025; of which $73.7 million at May 31, 2026 and $61.6 million at May 25, 2025 was held in foreign countries. source

Impact estimates