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Nomad Foods
(NYSE:NOMD)
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Rating:65Neutral
Price Target:
$13.00
▲(10.92% Upside)
Action:Reiterated
Date:06/01/26
The score is driven by stable but weakening financial performance (recent revenue and margin/return step-down) offset by strong valuation (low P/E and high dividend yield). Technicals add modest support with improving near-term momentum but a still-challenged longer-term trend, while the earnings call was moderately positive on pricing, manageable near-term inflation, and expected H2 profitability improvement despite near-term regional disruption risks.
Positive Factors
Strong branded portfolio
Nomad's ownership of established frozen-food brands supports durable shelf presence, retailer preference, and repeat consumer demand. Brand equity helps preserve pricing power and sales resilience across grocery cycles, enabling steady wholesale volumes and easier go-to-market execution over coming quarters.
Negative Factors
Declining revenue trend
Trailing revenue weakness and a recent downturn reduce scale economies across procurement and manufacturing. Flattening or falling top-line constrains margin recovery potential, limits marketing and innovation spend, and makes earnings sensitive to further volume declines over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong branded portfolio
Nomad's ownership of established frozen-food brands supports durable shelf presence, retailer preference, and repeat consumer demand. Brand equity helps preserve pricing power and sales resilience across grocery cycles, enabling steady wholesale volumes and easier go-to-market execution over coming quarters.
Read all positive factors
Nomad Foods (NOMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.66B
Dividend Yield5.71%
Average Volume (3M)1.35M
Price to Earnings (P/E)11.5
Beta (1Y)0.04
Revenue Growth4.84%
EPS Growth-31.84%
CountryUS
Employees7,024
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)0.90
Shares Outstanding139,791,170
10 Day Avg. Volume1,391,472
30 Day Avg. Volume1,347,307
Financial Highlights & Ratios
PEG Ratio-0.33
Price to Book (P/B)0.64
Price to Sales (P/S)0.53
P/FCF Ratio6.34
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$13.50Price Target Upside15.19% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)1.51
Revenue Forecast (FY)$2.94B
Nomad Foods Business Overview & Revenue Model
Company Description
Nomad Foods Limited operates as a leading entity in the frozen food industry, handling the manufacturing, promotion, and supply of its diverse product range across a significant portion of Europe. Its operational reach extends to countries includi...
How the Company Makes Money
Nomad Foods makes money by selling branded frozen food products to retail and food distribution customers, with revenue recognized from the sale of finished goods. Its core revenue stream is wholesale sales of frozen items (such as fish, vegetable...
Nomad Foods Earnings Call Summary
Earnings Call Date:May 07, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 13, 2026
Earnings Call Sentiment Positive
The call conveyed generally positive operational and topline momentum — stronger-than-expected category and volume growth, secured pricing, manageable near-term inflation, a pipeline of productivity savings, and improving retailer partnerships. These positives were tempered by regional execution disruptions (France and Germany) that depressed shipments and market share in March/April, and by medium-term inflation and supply-chain uncertainties that could pressure results in late 2026 and into 2027. Management has built conservative assumptions into guidance and expects shipments and promotions to normalize.Positive Updates
Stronger-than-expected category growth
Q1 category growth came in at 3.8% (above expectations) with volume growth of +1.5%, driving upside to top-line performance and better-than-planned P&L outcomes.
Negative Updates
Temporary disruptions in France and Germany
Some retailers in France and Germany temporarily suspended orders and canceled promotions during price negotiations, causing out-of-stocks, a dip in market share in March (continuing into April), and weighed on shipments.
Read all updates
Q1-2026 Updates
Positive
Negative
Stronger-than-expected category growth
Q1 category growth came in at 3.8% (above expectations) with volume growth of +1.5%, driving upside to top-line performance and better-than-planned P&L outcomes.
Read all positive updates
Company Guidance
Management reiterated that Q1 outperformed plans with category growth of 3.8% (volume +1.5%), but they continue to anchor planning to roughly 2% category growth for the year; COGS inflation has picked up by less than 1% so far and remains within a mid‑single‑digit outlook with most costs covered through 2026, pricing has been secured and implemented per plan, and the sell‑in/sell‑out disruptions in March/April (which management said could shave a couple of basis points from shipments and where Easter timing effects were roughly 0.5%) were anticipated and are built into full‑year guidance, shipments are back to normal from May, and the company still expects an H2 profitability step‑up and a positive margin mix in Q3 (helped by improved Adriatics ice‑cream performance) while private‑label competitors are expected to follow price moves with a time lag.Nomad Foods Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
62
Positive
Cash Flow
57
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.00B | 3.03B | 3.10B | 3.04B | 2.94B | 2.61B |
| Gross Profit | 798.02M | 823.00M | 917.80M | 858.70M | 815.30M | 744.30M |
| EBITDA | 340.14M | 254.70M | 505.10M | 480.50M | 492.20M | 369.80M |
| Net Income | 133.38M | 136.70M | 227.10M | 192.70M | 249.80M | 181.00M |
Balance Sheet | ||||||
| Total Assets | 6.34B | 6.33B | 6.43B | 6.42B | 6.33B | 6.17B |
| Cash, Cash Equivalents and Short-Term Investments | 282.50M | 329.30M | 403.00M | 412.70M | 369.40M | 254.00M |
| Total Debt | 2.30B | 2.29B | 2.18B | 2.15B | 2.17B | 2.23B |
| Total Liabilities | 3.84B | 3.84B | 3.77B | 3.82B | 3.72B | 3.87B |
| Stockholders Equity | 2.50B | 2.50B | 2.66B | 2.59B | 2.61B | 2.30B |
Cash Flow | ||||||
| Free Cash Flow | 227.42M | 252.20M | 355.10M | 348.40M | 224.70M | 227.10M |
| Operating Cash Flow | 308.56M | 330.70M | 435.40M | 430.80M | 303.80M | 306.30M |
| Investing Cash Flow | -78.45M | -74.60M | -64.40M | -76.80M | -78.70M | -660.00M |
| Financing Cash Flow | -275.06M | -332.10M | -366.40M | -321.50M | -108.10M | 214.40M |
Nomad Foods Technical Analysis
Positive
11.72
Price Trends
10.97
Positive
10.27
Positive
10.98
Positive
Market Momentum
0.33
Positive
55.89
Neutral
33.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For NOMD, the sentiment is Positive. The current price of 11.72 is below the 20-day moving average (MA) of 11.80, above the 50-day MA of 10.97, and above the 200-day MA of 10.98, indicating a bullish trend. The MACD of 0.33 indicates Positive momentum. The RSI at 55.89 is Neutral, neither overbought nor oversold. The STOCH value of 33.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for NOMD.
Nomad Foods Risk Analysis
Nomad Foods disclosed 60 risk factors in its most recent earnings report. Nomad Foods reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Nomad Foods Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | $6.51B | 11.90 | 14.85% | ― | 1.42% | -55.97% | |
65 Neutral | $1.66B | 11.51 | 5.28% | 5.80% | 4.84% | -31.84% | |
65 Neutral | $13.76B | 29.42 | 5.86% | 4.61% | 2.47% | -37.67% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
62 Neutral | $6.55B | 10.72 | 15.30% | 7.14% | -2.90% | 33.92% | |
62 Neutral | $12.75B | -91.74 | -2.44% | 3.72% | 3.72% | 88.76% | |
58 Neutral | $6.94B | -3.63 | -24.31% | 9.48% | -2.85% | -265.99% |
* Consumer Defensive Sector Average
NOMD
Nomad Foods
11.91
-3.89
-24.62%
CPB
Campbell Soup
22.76
-7.92
-25.82%
CAG
Conagra Brands
15.00
-2.42
-13.90%
HRL
Hormel Foods
25.34
-1.55
-5.76%
SJM
JM Smucker
119.17
13.97
13.28%
PPC
Pilgrim's Pride
26.96
-19.85
-42.40%
Nomad Foods Corporate Events
Nomad Foods Refinances €800m Notes and Announces Quarterly Dividend
Jul 30, 2026
On July 30, 2026, Nomad Foods refinanced its capital structure by issuing €800 million of 5.25% senior secured notes due July 15, 2033 through its subsidiary Nomad Foods Bondco Plc, under a new indenture that will be fully guaranteed by grou...
Nomad Foods Prices €800 Million Senior Secured Notes to Extend Debt Maturities
Jul 22, 2026
On July 22, 2026, Nomad Foods announced that its indirect wholly owned subsidiary Nomad Foods Bondco Plc had priced an €800 million offering of 5.25% senior secured notes due 2033. The proceeds are intended to fully refinance an existing ...
Nomad Foods Posts Stronger-Than-Expected Q2 Preliminary Results and Plans Debt Refinancing
Jul 20, 2026
Nomad Foods announced on July 20, 2026 that its preliminary financial results for the quarter ended June 30, 2026 indicate a 2.5% to 3.5% decline in reported and organic revenue, with adjusted EBITDA expected between €120 million and €...
Nomad Foods Shareholders Back Board Slate and Auditor at 2026 AGM
Jun 24, 2026
On June 22, 2026, Nomad Foods Limited held its 2026 annual meeting of shareholders, with 65.74% of outstanding ordinary shares represented in person or by proxy. Shareholders elected nine directors to one-year terms expiring at the 2027 annual mee...
Nomad Foods Updates Governance Disclosure Ahead of June 22, 2026 Shareholder Meeting
Jun 8, 2026
Nomad Foods filed a Form 6-K on June 8, 2026, amending its definitive proxy statement for the 2026 Annual Meeting of Shareholders scheduled for June 22, 2026. The filing updates its corporate governance disclosure, noting that in fiscal 2025 board...
Nomad Foods Sets June 22, 2026 Shareholder Meeting to Elect Board and Ratify Auditor
May 13, 2026
Nomad Foods has called its 2026 annual meeting of shareholders for June 22, 2026, at its London-area headquarters in Woking, Surrey. Shareholders of record as of May 4, 2026 are being provided proxy materials primarily via internet access, reflect...
Nomad Foods Introduces Share-Matching Option Plan to Align Leadership Incentives
May 8, 2026
Nomad Foods has launched a new Co-Investment and Share Option Matching Sub Plan under its 2025 Equity Incentive Plan, effective May 5, 2026, to incentivize its board and senior leadership to increase personal share ownership. Initial participants,...
Nomad Foods Posts Weaker Q1 2026 Results But Lifts EPS Outlook and Reaffirms Guidance
May 7, 2026
Nomad Foods reported on May 7, 2026 that first-quarter 2026 revenue fell 5.9% year on year to €715 million, with organic sales down 5.3% as volumes declined 4.4% and gross margin contracted 210 basis points to 25.7%. Profit dropped 12% to &#...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.