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Lifeway Foods
(NASDAQ:LWAY)
Lifeway Foods (LWAY) vs. SPDR S&P 500 ETF (SPY)
Lifeway Foods Business Overview & Revenue Model
Lifeway Foods Earnings Call Summary
Lifeway Foods Financial Statement Overview
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 204.07M | 186.82M | 160.12M | 141.57M | 119.06M | 102.03M |
| Gross Profit | 55.65M | 48.57M | 42.44M | 26.79M | 28.71M | 26.93M |
| EBITDA | 20.66M | 17.46M | 20.20M | 5.08M | 8.61M | 8.19M |
| Net Income | 11.16M | 9.03M | 11.37M | 924.00K | 3.31M | 3.23M |
Balance Sheet | ||||||
| Total Assets | 109.53M | 90.55M | 82.64M | 69.00M | 71.55M | 62.05M |
| Cash, Cash Equivalents and Short-Term Investments | 22.99M | 16.73M | 13.20M | 4.44M | 9.23M | 7.93M |
| Total Debt | 358.00K | 117.00K | 2.92M | 6.68M | 7.46M | 3.11M |
| Total Liabilities | 26.76M | 18.64M | 22.20M | 21.43M | 22.42M | 15.20M |
| Stockholders Equity | 82.76M | 71.91M | 60.44M | 47.57M | 49.13M | 46.85M |
Cash Flow | ||||||
| Free Cash Flow | -2.83M | 6.26M | 12.59M | 538.00K | 3.64M | 4.49M |
| Operating Cash Flow | 8.10M | 12.96M | 16.94M | 3.99M | 5.56M | 6.38M |
| Investing Cash Flow | -5.61M | -6.68M | -4.41M | -4.03M | -7.14M | -1.89M |
| Financing Cash Flow | -65.00K | -2.75M | -3.78M | -4.75M | 2.88M | -405.00K |
Lifeway Foods Technical Analysis
Lifeway Foods Risk Analysis
Lifeway Foods Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $377.73M | 27.11 | 9.52% | ― | 6.62% | -7.85% | |
76 Outperform | $512.23M | 109.15 | 12.82% | ― | 29.92% | 30.02% | |
73 Outperform | $335.95M | 31.28 | 14.46% | ― | 12.14% | -17.80% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
54 Neutral | $357.76M | 22.48 | 3.20% | ― | 5.88% | -68.62% | |
49 Neutral | $359.22M | -4.29 | -27.64% | ― | 28.89% | -13.96% | |
44 Neutral | $241.11M | -7.25 | -35.78% | ― | -3.42% | -85.49% |
Lifeway Foods Corporate Events
At Lifeway Foods’ 2025 Annual Meeting of Shareholders held on December 29, 2025, investors elected the company’s slate of board nominees, including CEO Julie Smolyansky, and rejected opposition nominees George Sent and Edward Smolyansky, affirming current leadership and governance direction. Shareholders narrowly failed to approve proposed amendments to the Articles of Incorporation related to director exculpation, indemnification and expense advancement, but ratified Grant Thornton LLP as independent auditor for 2025, backed the company’s executive compensation on an advisory basis, endorsed holding say-on-pay votes annually, and decisively voted down a shareholder proposal to form a board committee to review management, the strategic plan and strategic alternatives, signaling support for the existing strategic course while withholding expanded legal protections for directors.
The most recent analyst rating on (LWAY) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.
On December 29, 2025, Lifeway Foods, Inc. and its subsidiaries Fresh Made, Inc. and Lifeway Wisconsin, Inc. entered into a Sixth Modification to their Amended and Restated Loan and Security Agreement with CIBC Bank USA, revising certain financial and governance terms while extending the facility. The amendment temporarily adjusts the Fixed Charge Coverage Ratio calculation through June 30, 2027 to exclude up to $50 million of unfinanced capital expenditures tied to plant optimization and manufacturing capacity expansion in Waukesha, Wisconsin, refines the definition of Change of Control so that specified board changes will not trigger it, and extends the credit agreement’s termination date to February 5, 2029, thereby providing Lifeway additional financial flexibility to support its growth initiatives without altering other material terms; the company had no outstanding borrowings when the modification was signed.
The most recent analyst rating on (LWAY) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.
At the December 29, 2025 annual shareholders meeting, CEO Julie Smolyansky highlighted Lifeway Foods’ strong multi-year growth, with U.S. multi-outlet kefir and farmer cheese sales rising an estimated 151% between 2019 and 2025 to about $188 million, driven by a 20% dollar and 24% unit increase in the latest period and rising household penetration, repeat purchases and brand loyalty. The presentation detailed how new product launches, expanded distribution into retailers such as club stores and convenience channels, and grab-and-go 8oz formats are broadening Lifeway’s consumer base—especially among Gen Z and Millennials seeking high-protein, functional foods—while capacity expansion at its Waukesha, Wisconsin plant and ongoing sustainability measures are expected to further support growth and reinforce its leadership in the gut-health segment of the dairy market.
The most recent analyst rating on (LWAY) stock is a Buy with a $26.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.
Lifeway Foods has issued a statement addressing the nomination of dissident directors Edward Smolyansky and George Sent, citing their disqualifying track records and ethical concerns. The company highlights the dissidents’ financial distress and questionable motives, which may not align with shareholder interests. Institutional Shareholder Services has advised against supporting the dissident nominees, emphasizing Lifeway’s strong financial performance and shareholder returns. The company remains committed to board refreshment with a focus on independence and effectiveness.
The most recent analyst rating on (LWAY) stock is a Hold with a $26.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.
On September 30, 2025, Lifeway Foods entered into a Cooperation Agreement with Danone North America, leading to the disclosure of financial projections initially shared during a due diligence process. These projections, covering the years 2025 to 2029, were not intended for public release but were disclosed to provide transparency to stakeholders. Lifeway Foods also reported record financial results for Q3 2025, with net sales reaching $57.1 million, marking a 29% increase on a comparable basis. The company achieved significant gross margin expansion and net income growth, driven by strong consumer demand for its kefir products and strategic expansions, such as the Waukesha plant. Lifeway continues to innovate with new product offerings like Muscle Mates™ and partnerships to enhance kefir visibility, positioning itself to capitalize on health trends and sustain growth.
The most recent analyst rating on (LWAY) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.
On October 29, 2025, Lifeway Foods‘ Board approved an amendment to its Second Amended and Restated Bylaws, allowing for a Board size ranging from five to ten directors. The Board has currently set the number of directors at eight, indicating a strategic decision to potentially accommodate future growth or changes in governance.
The most recent analyst rating on (LWAY) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.
On October 29, 2025, Lifeway Foods, Inc. announced an extension of its Shareholder Rights Agreement by one year, now expiring on October 29, 2026. The decision was made to protect against potential acquisition of control by shareholders without paying a premium, given the company’s concentrated share ownership and the potential for a substantial number of shares to become available for sale. This move aims to ensure that all shareholders can realize the full value of their investment and safeguard against control tactics without fair compensation.
The most recent analyst rating on (LWAY) stock is a Hold with a $25.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.
Lifeway Foods, Inc. announced that its 2025 annual meeting of shareholders is scheduled for December 16, 2025. Shareholder proposals or nominations must be submitted by October 20, 2025, adhering to the company’s by-laws and Rule 14a-8 requirements.
The most recent analyst rating on (LWAY) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on Lifeway Foods stock, see the LWAY Stock Forecast page.