Tearsheet

Simply Good Foods (SMPL)

Market Price (12/28/2025): $20.02 | Market Cap: $2.0 Bil
Sector: Consumer Staples | Industry: Packaged Foods & Meats

Simply Good Foods (SMPL)

Market Price (12/28/2025): $20.02
Market Cap: $2.0 Bil
Sector: Consumer Staples
Industry: Packaged Foods & Meats

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 7.8%	Weak multi-year price returns 2Y Excs Rtn is -95%, 3Y Excs Rtn is -128%	Weak revenue growth Rev Chg QQuarterly Revenue Change % is -1.8%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%		Key risks SMPL key risks include [1] the substantial performance decline and financial impairment of its Atkins brand and [2] the threat from GLP-1 weight-loss drugs altering consumer demand for nutritional snacks.
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%
3	Low stock price volatility Vol 12M is 34%
4	Megatrend and thematic drivers Megatrends include Health & Wellness Trends. Themes include Functional Foods & Beverages, and Nutritional Supplements.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.2%, FCF Yield is 7.8%
1	Attractive cash flow generation CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 12%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 11%
2	Valuation becoming less expensive P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -37%
3	Low stock price volatility Vol 12M is 34%
4	Megatrend and thematic drivers Megatrends include Health & Wellness Trends. Themes include Functional Foods & Beverages, and Nutritional Supplements.
5	Weak multi-year price returns 2Y Excs Rtn is -95%, 3Y Excs Rtn is -128%
6	Weak revenue growth Rev Chg QQuarterly Revenue Change % is -1.8%
7	Key risks SMPL key risks include [1] the substantial performance decline and financial impairment of its Atkins brand and [2] the threat from GLP-1 weight-loss drugs altering consumer demand for nutritional snacks.

Valuation, Metrics & Events

	12/28/25	2024	2023	2022
Share Price CYE	$20.02	$38.98	$39.60	$38.03
Market Cap CYE ($ Bil)	2.0	3.9	3.9	3.8
Total Debt ($ Bil)	0.3	0.3	0.4	0.3
Total Cash ($ Bil)	0.1	0.1	0.1	0.1
Enterprise Value ($ Bil)	2.2	4.2	4.3	4.1
Valuation Ratios
P/S TTM	1.4	2.7	3.0	3.0
P/EBIT TTM	12.6	24.7	18.7	18.4
P/E TTM	19.4	37.9	28.4	28.3
P/FCF TTM	12.9	25.2	18.9	23.8
Sector Ratios
P/S TTM (Sector)	0.8	1.0	1.0	0.9
P/EBIT TTM (Sector)	8.6	9.8	10.9	10.9
P/E TTM (Sector)	12.7	14.2	16.0	14.5
P/FCF TTM (Sector)	11.4	14.5	12.2	12.0

	12/28/25	2024	2023
Share Price CYE	$20.02	$38.98	$39.60
Market Cap CYE ($ Bil)	2.0	3.9	3.9
Total Debt ($ Bil)	0.3	0.3	0.4
Total Cash ($ Bil)	0.1	0.1	0.1
Enterprise Value ($ Bil)	2.2	4.2	4.3
Valuation Ratios
P/S TTM	1.4	2.7	3.0
P/EBIT TTM	12.6	24.7	18.7
P/E TTM	19.4	37.9	28.4
P/FCF TTM	12.9	25.2	18.9
Sector Ratios
P/S TTM (Sector)	0.8	1.0	1.0
P/EBIT TTM (Sector)	8.6	9.8	10.9
P/E TTM (Sector)	12.7	14.2	16.0
P/FCF TTM (Sector)	11.4	14.5	12.2

	SMPL	S&P 500
REVENUE GROWTH
Rev LTM ($ Bil)	1.5
Rev Chg Q	-1.8%	7.3%
Rev Chg LTM	9.0%	6.1%
Rev Chg 3Y Avg	7.5%	5.5%
PROFITABILITY	FAIR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	15.1%	18.8%
CFO/Rev LTM	12.3%	20.4%
Net Inc Mgn	7.1%	13.1%
VALUATION	LOW
P/S	1.4	3.3
P/CFO	11.3	15.8
P/FCF	12.9	20.7
P/E	19.4	23.7
STABILITY	GOOD
Debt/Equity	0.15	0.21
Cash/Assets	0.04	0.07

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Metric	Value	Date	Source
Total Simply Good Foods Retail Takeaway Increase	7%	4092025	Link
Quest Retail Takeaway Growth	13%	4092025	Link
OWYN Point-of-Sales Growth	52%	4092025	Link
Atkins Retail Takeaway Decline	10%	4092025	Link
Quest Household Penetration	18.3%	7102025	Link
Quest E-commerce Gross Sales Percentage	22%	10282025	Link
Atkins E-commerce Gross Sales Percentage	19%	10282025	Link
OWYN E-commerce Gross Sales Percentage	26%	10282025	Link
Walmart Share of Consolidated Sales	31%	10282025	Link
Amazon Share of Consolidated Sales	18%	10282025	Link

Upcoming
1/08/2026	Earnings Release	Rev: $339 Mil (E) EPS: $0.36 (E)
4/07/2026	Earnings Release	Rev: - EPS: -

SMPL Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Here are the key points explaining the approximate -30.2% movement in Simply Good Foods (SMPL) stock from August 31, 2025, to December 28, 2025:

1. Simply Good Foods missed its Q4 2025 earnings per share (EPS) estimates.

On October 23, 2025, the company reported an adjusted EPS of $0.46 for the fourth quarter, falling short of the consensus estimate of $0.48 by 4.17%. This earnings miss led to a significant negative market reaction.

2. The company experienced a decline in Q4 2025 net sales.

Simply Good Foods reported quarterly revenue of $369 million, which represented a 1.8% decrease compared to the same period in the prior year. While slightly exceeding some revenue forecasts, it fell short of others, contributing to investor disappointment.

3. Simply Good Foods reported a notable contraction in gross margin and adjusted EBITDA.

The gross profit for Q4 2025 decreased by 13.3% year-over-year, with the gross margin declining by 450 basis points to 34.3%. Additionally, adjusted EBITDA was down 14.5% year-over-year, indicating significant pressure on the company's profitability.

4. The Atkins brand showed weak performance and resulted in an impairment charge.

The Atkins brand faced a challenging fiscal year 2025, with consumption declining by 12% in Q4 and 10% for the full year, largely due to losing distribution at club stores and changes in promotional activities. This underperformance led to a non-cash impairment charge of $60.9 million, contributing to a diluted loss per share in the quarter.

5. The company provided a cautious fiscal year 2026 outlook.

Simply Good Foods projected net sales growth for fiscal year 2026 to be in the range of -2% to +2%. Furthermore, the company anticipated a decline in gross margins by 100 to 150 basis points and adjusted EBITDA to be between -4% and +1% for the upcoming fiscal year, reflecting ongoing challenges and increased marketing investments.

Stock Movement Drivers

Fundamental Drivers

The -19.1% change in SMPL stock from 9/27/2025 to 12/27/2025 was primarily driven by a -28.3% change in the company's Net Income Margin (%).

	9272025	12272025	Change
Stock Price ($)	24.71	19.98	-19.14%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1457.57	1450.92	-0.46%
Net Income Margin (%)	9.97%	7.14%	-28.34%
P/E Multiple	17.17	19.36	12.79%
Shares Outstanding (Mil)	100.92	100.42	0.50%
Cumulative Contribution			-19.14%

LTM = Last Twelve Months as of date shown

Market Drivers

9/27/2025 to 12/27/2025

	Return	Correlation
SMPL	-19.1%
Market (SPY)	4.3%	-11.5%
Sector (XLP)	0.3%	26.8%

Fundamental Drivers

The -37.4% change in SMPL stock from 6/28/2025 to 12/27/2025 was primarily driven by a -30.7% change in the company's Net Income Margin (%).

	6282025	12272025	Change
Stock Price ($)	31.91	19.98	-37.39%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1411.37	1450.92	2.80%
Net Income Margin (%)	10.31%	7.14%	-30.73%
P/E Multiple	22.16	19.36	-12.62%
Shares Outstanding (Mil)	101.04	100.42	0.61%
Cumulative Contribution			-37.39%

LTM = Last Twelve Months as of date shown

Market Drivers

6/28/2025 to 12/27/2025

	Return	Correlation
SMPL	-37.4%
Market (SPY)	12.6%	0.1%
Sector (XLP)	-2.2%	31.9%

Fundamental Drivers

The -48.5% change in SMPL stock from 12/27/2024 to 12/27/2025 was primarily driven by a -31.8% change in the company's Net Income Margin (%).

	12272024	12272025	Change
Stock Price ($)	38.79	19.98	-48.49%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1331.32	1450.92	8.98%
Net Income Margin (%)	10.46%	7.14%	-31.75%
P/E Multiple	27.89	19.36	-30.57%
Shares Outstanding (Mil)	100.16	100.42	-0.26%
Cumulative Contribution			-48.49%

LTM = Last Twelve Months as of date shown

Market Drivers

12/27/2024 to 12/27/2025

	Return	Correlation
SMPL	-48.5%
Market (SPY)	17.0%	25.8%
Sector (XLP)	0.5%	48.0%

Fundamental Drivers

The -47.0% change in SMPL stock from 12/28/2022 to 12/27/2025 was primarily driven by a -44.3% change in the company's P/E Multiple.

	12282022	12272025	Change
Stock Price ($)	37.70	19.98	-47.00%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	1168.68	1450.92	24.15%
Net Income Margin (%)	9.29%	7.14%	-23.13%
P/E Multiple	34.77	19.36	-44.31%
Shares Outstanding (Mil)	100.14	100.42	-0.28%
Cumulative Contribution			-47.00%

LTM = Last Twelve Months as of date shown

Market Drivers

12/28/2023 to 12/27/2025

	Return	Correlation
SMPL	-50.3%
Market (SPY)	48.0%	22.0%
Sector (XLP)	14.0%	40.1%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
SMPL Return	10%	33%	-9%	4%	-2%	-49%	-31%
Peers Return	16%	38%	-12%	21%	26%	16%	150%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	114%
Monthly Win Rates [3]
SMPL Win Rate	42%	58%	42%	58%	33%	25%
Peers Win Rate	52%	65%	42%	68%	57%	52%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
SMPL Max Drawdown	-49%	-14%	-29%	-15%	-21%	-52%
Peers Max Drawdown	-34%	-5%	-26%	-7%	-9%	-23%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: HPQ, HPE, IBM, CSCO, AAPL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/26/2025 (YTD)

How Low Can It Go

Unique Key	Event	SMPL	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-34.0%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	51.6%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-48.5%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	94.3%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	274 days	148 days

Compare to HPQ, HPE, IBM, CSCO, AAPL

In The Past

Simply Good Foods's stock fell -34.0% during the 2022 Inflation Shock from a high on 4/19/2022. A -34.0% loss requires a 51.6% gain to breakeven.

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About Simply Good Foods (SMPL)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

The Simply Good Foods Company operates as a consumer packaged food and beverage company in North America and internationally. The company develops, markets, and sells snacks and meal replacements. It offers protein bars, ready-to-drink shakes, sweet and salty snacks, cookies, pizza, protein chips, recipes, and confectionery products, as well as licensed frozen meals under the Atkins, Atkins Endulge, and Quest brand names. The company distributes its products to various retail channels, such as mass merchandise, grocery and drug channels, club stores, convenience stores, gas stations, and other channels. It also sells its products through e-commerce channels, including atkins.com, questnutrition.com, and amazon.com. The Simply Good Foods Company is headquartered in Denver, Colorado.

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Here are 1-3 brief analogies for Simply Good Foods (SMPL):

Simply Good Foods is like Clif Bar for keto and low-carb diets.
Simply Good Foods is like a consumer packaged goods (CPG) version of Weight Watchers, specializing in diet-friendly foods and snacks.
Simply Good Foods is like PepsiCo's Frito-Lay, but exclusively producing high-protein, low-carb snacks and diet foods.

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Protein Bars: Convenient, high-protein, low-sugar snack bars designed for active lifestyles and weight management.
Protein Shakes & Powders: Ready-to-drink protein shakes and versatile protein powders for muscle support and meal replacement.
Nutritious Snacks: A variety of better-for-you snacks including protein chips, cookies, crisps, and plant-based bites, offering healthier alternatives.
Frozen Meals: Low-carb and keto-friendly frozen meals providing convenient options for specific dietary needs.

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The Simply Good Foods Company (symbol: SMPL) primarily sells its products to other companies, specifically various retail channels that then sell to individual consumers. Therefore, it operates on a business-to-business (B2B) model with its direct customers being retailers.

According to its SEC filings (10-K reports), Simply Good Foods has a concentration of sales with a few major retailers. Its most significant identified customer is:

Walmart Inc. (Symbol: WMT) - This customer and its affiliates accounted for approximately 25% of Simply Good Foods' net sales in fiscal year 2023.

Simply Good Foods also states that its top three customers collectively accounted for approximately 45% of its net sales in fiscal year 2023. While Walmart Inc. is explicitly named as a primary customer, the other two major customers making up the remaining percentage are not specifically identified by name in its public filings. These typically include other large retailers such as mass merchandisers, club stores, grocery stores, drug stores, and e-commerce platforms.

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Geoff E. Tanner President, Chief Executive Officer and Director Geoff E. Tanner was appointed President, Chief Operating Officer, and CEO-Elect of The Simply Good Foods Company on April 3, 2023, and became President and Chief Executive Officer in July 2023. He brings over two decades of experience driving financial and marketplace results for prominent food companies. Prior to joining Simply Good Foods, Mr. Tanner served as Chief Commercial & Marketing Officer at The J.M. Smucker Company from October 2019 to February 2023, where he oversaw a significant commercial organization and led successful transformations in marketing and sales. His earlier roles at Smucker included Senior Vice President, Growth and Innovation, and General Manager, Pet Snacks Business Unit and Vice President, Marketing. He also held executive positions at Big Heart Pet Brands and its predecessor, Del Monte Foods, from 2013 to 2016. Mr. Tanner began his career as a senior strategy consultant at Cap Gemini Ernst & Young. Chris Bealer Chief Financial Officer Christopher J. Bealer became the Chief Financial Officer of The Simply Good Foods Company after Shaun Mara's retirement on July 3, 2025. He joined the company as Senior Vice President of Finance on April 1, 2025, in preparation for this transition. Mr. Bealer has nearly 23 years of experience in consumer packaged goods and consumer durables, both in North America and globally. His background includes executive roles at Reckitt Benckiser Group PLC, where he managed global controls and financial shared services, and significant finance positions at Whirlpool Corporation, Big Heart Pet Brands, Del Monte Foods, and H.J. Heinz Company. Joseph E. Scalzo Executive Vice Chairman of the Board Joseph E. Scalzo is the Executive Vice Chairman of the Board for The Simply Good Foods Company. He previously served as President and Chief Executive Officer of Simply Good Foods and its predecessor, Atkins Nutritionals, Inc., for nearly ten years. During his tenure as CEO, he was instrumental in the company's successful entry into the public markets and its transformational acquisition of Quest. Mr. Scalzo possesses over 30 years of experience in leading food and consumer companies. His career includes serving as CEO of WhiteWave Foods Company and holding senior executive positions at Dean Foods, The Gillette Company, and The Coca-Cola Company. He began his career at Procter & Gamble. Mr. Scalzo is credited with leading the transformation of WhiteWave Foods Company into a successful consumer foods company and spearheading a three-year turnaround of The Gillette Company's global personal care business. He is also a partner in Centerview Capital, an investment firm focused on branded packaged goods. Timothy R. Kraft Chief Legal and Corporate Development Officer Timothy R. Kraft serves as the Chief Legal and Corporate Development Officer at The Simply Good Foods Company. Amy C. Held Chief Human Resources Officer Amy C. Held holds the position of Chief Human Resources Officer at The Simply Good Foods Company.

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The Simply Good Foods Company (SMPL) faces several key risks to its business operations and financial performance.

Declining Atkins Brand Performance: The most significant risk stems from the continued decline in sales and distribution of the Atkins brand. In fiscal year 2025, the Atkins brand was a substantial drag on the company's financial health, necessitating a $60.9 million non-cash impairment charge due to its performance and updated revenue projections. Retail takeaway for Atkins was down significantly, and the company anticipates further declines, partly due to reduced trade investments and distribution losses at key retailers. While other brands like Quest and OWYN are driving growth, the underperformance of Atkins remains a major portfolio management challenge for Simply Good Foods.
Changing Consumer Preferences and Intense Competition, including GLP-1 Weight-Loss Drugs: Simply Good Foods operates in a highly competitive nutritional snacking industry where consumer preferences can shift rapidly. A significant emerging risk is the increasing popularity and use of GLP-1 weight-loss drugs. If the company cannot effectively communicate how its products support weight management goals in light of these medications, or if these drugs broadly impact the nutritional snacking category, it could materially and adversely affect the business. The company also faces fierce competition from larger players with greater resources and more widely recognized brands.
Commodity Cost Volatility and Supply Chain Challenges: The company is exposed to risks related to fluctuating commodity costs and potential disruptions in its supply chain. Rising costs for essential ingredients such as whey, cocoa, and plant-based oils can squeeze gross margins. Furthermore, climate change poses financial risks, including potential negative impacts on agricultural productivity, which could lead to decreased availability or increased costs of these key commodities. Such factors could affect the company's supply chain, production schedules, and overall financial results.

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The widespread and accelerating adoption of GLP-1 receptor agonist drugs (e.g., Ozempic, Wegovy) for weight management and diabetes treatment represents a clear emerging threat. These medications significantly reduce appetite and increase satiety, potentially diminishing the consumer demand for diet-specific packaged foods and snacks that Simply Good Foods' brands (Atkins, Quest) cater to, as individuals may experience less hunger and fewer cravings, leading to a reduced need for traditional dietary interventions and products.

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The Simply Good Foods Company (SMPL) operates in the convenient nutrition and healthy snacking markets, primarily offering protein bars, ready-to-drink (RTD) shakes, and other better-for-you snacks and meal replacements under its Atkins, Quest, and OWYN brands.

Addressable Markets for Simply Good Foods' Main Products:

Protein Bars:
- Global: The global protein bar market was valued at approximately USD 15.26 billion in 2025 and is projected to increase to around USD 23.88 billion by 2034. Other estimates place the global market at USD 15.97 billion in 2024, projected to grow to USD 24.25 billion by 2032.
- U.S.: The U.S. protein bar market size is estimated at USD 4.17 billion in 2025 and is projected to reach approximately USD 6.65 billion by 2034. Another report indicates the U.S. protein bar market size at USD 4.03 billion in 2024.
Ready-to-Drink (RTD) Protein Shakes/Beverages:
- Global: The global ready-to-drink protein beverages market was approximately USD 1.96 billion in 2025 and is expected to grow to USD 2.85 billion by 2030. Other analyses estimate the market at USD 1.7 billion in 2024, growing to USD 3.4 billion by 2034.
- North America: North America held a significant share of the RTD protein market, with a 38.76% revenue share in 2024. The North American RTD protein market was valued at USD 0.8 billion in 2024, representing 48.10% of the global market.
Healthy Snacks (includes bars, sweet and salty snacks):
- Global: The global healthy snacks market was valued at approximately USD 97.35 billion in 2024 and is projected to grow to about USD 188.03 billion by 2034. Another estimate places the global market at USD 101.3 billion in 2024.
- U.S.: The U.S. healthy snacks market was valued at approximately USD 31.90 billion in 2024 and is projected to reach USD 54.61 billion by 2033. Other reports indicate the U.S. healthy snacks market size at USD 35.6 billion in 2024.
Weight Management (relevant for Atkins brand):
- U.S.: The U.S. weight management market size reached USD 82.7 billion in 2024 and is expected to reach USD 130.0 billion by 2033. Another report estimates the total U.S. weight loss market value at USD 90 billion in 2023.

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Simply Good Foods (SMPL) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

Continued Growth of the Quest Brand, particularly Salty Snacks: The Quest brand, especially its salty snacks portfolio, is consistently highlighted as a robust organic growth driver. Quest's retail takeaway, particularly in salty snacks, has shown strong increases, with consumption up 31% for the quarter and 34% for the full year in fiscal 2025. The company anticipates that salty snacks will become Quest's largest platform by the end of fiscal year 2026, indicating significant ongoing potential in this segment.
Leveraging the OWYN Acquisition: The acquisition of Only What You Need (OWYN), a plant-based protein shake brand, is a crucial driver of net sales growth. OWYN significantly contributed to net sales growth in fiscal year 2024 and 2025, and Simply Good Foods expects OWYN's net sales to be in the range of $135-145 million for fiscal year 2025. The company plans to double OWYN's sales within four years through distribution expansion and by appealing to a broader mainstream consumer base. OWYN's retail takeaway increased 24% in Q3 2025, with distribution expanding 18% due to recent gains.
Strategic Revitalization and Repositioning of the Atkins Brand: Although the Atkins brand has faced declines in recent periods, Simply Good Foods is actively implementing a revitalization plan to reshape it for future profitability. This involves working with retailers to manage product assortment and focusing on making Atkins a more profitable, sustainable business, potentially acting as a "cash cow" to support the growth of other brands. Initiatives include a packaging refresh and a new leadership team dedicated to executing this plan.
Disruptive Innovation and New Product Development: Simply Good Foods' growth framework is underpinned by "disruptive innovation" and a "rich pipeline of innovation," particularly within the Quest brand. This strategy includes launching new products like the Quest Overload bar platform, which contributed to Quest bar growth. This continuous focus on innovation across its portfolio is expected to capture evolving consumer demands within the nutritional snacking category, which continues to see double-digit growth driven by demand for high-protein, low-sugar, and low-carb options.
Expansion of Distribution and Market Penetration: The company aims to expand its "physical availability" and gain shelf and merchandising space for its growth brands, Quest and OWYN. This includes driving distribution of existing OWYN products and increasing household penetration of its brands. The consistent expansion of distribution for both Quest and OWYN products across various channels is a key factor in increasing their market reach and, consequently, revenue.

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Share Repurchases

The Board of Directors approved an additional $150 million to its existing stock repurchase program on October 21, 2025, bringing the total funds allocated for stock repurchasing to $171 million as of October 23, 2025.
For the full fiscal year 2025, the company repurchased approximately $50.9 million of its stock.
On April 13, 2022, the company's Board of Directors approved adding $50 million to its existing stock repurchase program, making approximately $76.2 million available under the authorization at that time.

Share Issuance

On January 10, 2022, Conyers Park Acquisition Corp. exercised 6.7 million private placement warrants on a cashless basis, resulting in the net receipt of 4,830,761 shares of Simply Good Foods common stock and an increase in outstanding shares to 100,963,850.

Outbound Investments

In June 2024, Simply Good Foods acquired Only What You Need, Inc. (OWYN), a plant-based protein food company, for a cash purchase price of approximately $280.0 million.
The company actively seeks to identify and evaluate new acquisition opportunities to expand its existing portfolio in complementary snacking categories such as sports/active and adult nutritional snacks, salty snacks, and protein snacks, as well as in the "better-for-you" eating space.

Capital Expenditures

Capital expenditures for fiscal year 2025 were about $20.5 million, primarily supporting strategic investments to drive growth.
Historical capital expenditures were $17 million in fiscal year 2021, $12 million in fiscal year 2022, $16 million in fiscal year 2023, and $18 million in fiscal year 2024.
For fiscal year 2026, projected capital expenditures are $13 million.

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General Mills

SJM (15.2%)

JM Smucker

Higher CFO/Rev LTM (Value for SMPL: 12.3%)

HSY (19.0%)

Hershey

KHC (17.8%)

Kraft Heinz

LW (15.0%)

Lamb Weston

MKC (12.9%)

McCormick

GIS (12.6%)

General Mills

Higher FCF/Rev LTM (Value for SMPL: 10.7%)

CALM (27.6%)

Cal-Maine Foods

KHC (14.4%)

Kraft Heinz

HSY (14.0%)

Hershey

MZTI (13.2%)

Marzetti

BRBR (11.0%)

BellRing Brands

Higher Total Yield (Value for SMPL: 5.2%)

GIS (15.3%)

General Mills

MDLZ (8.5%)

Mondelez International

K (7.3%)

Kellanova

HSY (7.0%)

Hershey

MKC (6.8%)

McCormick

SECTOR: Consumer Staples

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMPL: 7.5% | 1.4x)

DLTR (20.3% | 1.3x)

Dollar Tree

SFM (11.1% | 0.9x)

Sprouts Farmers Market

LW (14.2% | 0.9x)

Lamb Weston

POST (11.9% | 0.7x)

Post

CALM (31.8% | 0.9x)

Cal-Maine Foods

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMPL: 7.5% | 9.2x)

LW (14.2% | 7.3x)

Lamb Weston

POST (11.9% | 6.6x)

Post

CALM (31.8% | 2.5x)

Cal-Maine Foods

UVV (7.9% | 5.3x)

Universal

DIT (12.3% | 5.1x)

Amcon Distributing

Higher Rev Chg LTM (Value for SMPL: 9.0%)

DLTR (156.4%)

Dollar Tree

CASY (13.3%)

Casey's General Stores

PFGC (10.6%)

Performance Food

BG (10.3%)

Bunge Global

CART (10.2%)

Maplebear

Higher Rev Chg 3Y Avg (Value for SMPL: 7.5%)

CELH (57.5%)

Celsius

DLTR (20.3%)

Dollar Tree

MNST (8.6%)

Monster Beverage

PM (8.0%)

Philip Morris International

MDLZ (7.5%)

Mondelez International

Higher Op Mgn LTM (Value for SMPL: 15.1%)

MO (59.0%)

Altria

PM (37.1%)

Philip Morris International

KO (31.3%)

Coca-Cola

BUD (26.1%)

Anheuser-Busch InBev SA/NV

PG (24.1%)

Procter & Gamble

Higher CFO/Rev LTM (Value for SMPL: 12.3%)

MO (43.8%)

Altria

PM (28.8%)

Philip Morris International

PG (22.3%)

Procter & Gamble

KO (16.0%)

Coca-Cola

PEP (12.7%)

PepsiCo

Higher FCF/Rev LTM (Value for SMPL: 10.7%)

MO (43.1%)

Altria

PM (25.3%)

Philip Morris International

MNST (24.4%)

Monster Beverage

PG (17.6%)

Procter & Gamble

KO (11.7%)

Coca-Cola

Higher Total Yield (Value for SMPL: 5.2%)

MO (16.2%)

Altria

MDLZ (8.5%)

Mondelez International

PEP (7.5%)

PepsiCo

KO (7.2%)

Coca-Cola

PM (6.8%)

Philip Morris International

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMPL: 7.5% | 1.4x)

UNH (11.4% | 0.7x)

UnitedHealth

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

GM (8.6% | 0.4x)

General Motors

ELV (8.4% | 0.4x)

Elevance Health

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMPL: 7.5% | 9.2x)

DAL (10.8% | 7.6x)

Delta Air Lines

OKE (16.4% | 7.8x)

ONEOK

EXC (8.9% | 8.7x)

Exelon

FANG (20.8% | 7.6x)

Diamondback Energy

UAL (13.2% | 7.1x)

United Airlines

Higher Rev Chg LTM (Value for SMPL: 9.0%)

NVDA (65.2%)

NVIDIA

META (21.3%)

Meta Platforms

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AMZN (10.9%)

Amazon.com

Higher Rev Chg 3Y Avg (Value for SMPL: 7.5%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

AMZN (11.3%)

Amazon.com

GOOGL (11.0%)

Alphabet

Higher Op Mgn LTM (Value for SMPL: 15.1%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for SMPL: 12.3%)

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

AMZN (18.1%)

Amazon.com

Higher FCF/Rev LTM (Value for SMPL: 10.7%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for SMPL: 5.2%)

XOM (9.2%)

Exxon Mobil

JNJ (7.5%)

Johnson & Johnson

BAC (7.1%)

Bank of America

JPM (6.4%)

JPMorgan Chase

BRK-B (6.3%)

Berkshire Hathaway

		Best Bets In Consumer Staples Sector
	SMPL	MO	PM	MNST	PG	STZ	CL	HSY	KO	FIZZ	COCO
What You Pay
P/E	19.4	11.0	29.1	43.7	20.2	20.0	22.2	24.4	23.1	16.2	44.0
P/EBIT	12.6	8.3	16.3	33.3	15.5	11.6	15.4	19.6	17.2	12.8	41.4
What You Get
Rev Chg Q	-1.8%	0.2%	9.4%	16.8%	3.0%	-15.0%	1.0%	26.0%	5.1%	-1.0%	37.2%
Rev Chg LTM	9.0%	-0.2%	7.5%	7.6%	1.2%	-5.6%	0.1%	2.5%	2.8%	1.0%	23.1%
Rev Chg 3Y Avg	7.5%	-0.9%	8.0%	8.6%	1.8%	0.7%	4.2%	5.2%	4.0%	1.1%	13.3%
FCF/Rev 3Y Avg	13.1%	42.7%	24.9%	22.0%	18.0%	17.0%	15.4%	13.9%	13.9%	13.4%	13.1%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 8.7%, alpha of 1.4%, and sharpe of 0.5

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Simply Good Foods Earnings Notes
2	SMPL: Strong Cash Flow Poised for a Re-Rating?	Actionable
3	Cash Rich, Low Price - SMPL to Break Out?	Actionable
4	How Low Can Simply Good Foods Stock Really Go?	Return
5	How Does Simply Good Foods Stock Stack Up Against Its Peers?	Peer Comparison
6	Better Bet Than SMPL Stock: Pay Less Than Simply Good Foods To Get More From OKE, IBKR
7	Better Bet Than SMPL Stock: Pay Less Than Simply Good Foods To Get More From BRBR, CALM
8	Better Bet Than SMPL Stock: Pay Less Than Simply Good Foods To Get More From BRBR, CALM
9	Why Simply Good Foods Stock Moved: SMPL Stock Has Lost 53% Since 2021 Fiscal End, Primarily Due To Unfavorable Change In Price To Sales Multiple (P/S)
10	SMPL Dip Buy Analysis

	Title
0	ARTICLES

Trade Ideas

Select ideas related to SMPL. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BF-B_11302025_Dip_Buyer_ValueBuy	11302025	BF-B	Brown-Forman	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-8.9%	-8.9%	-8.9%
CPB_11302025_Dip_Buyer_ValueBuy	11302025	CPB	Campbell's	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	-7.6%	-7.6%	-9.2%
ENR_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	ENR	Energizer	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	13.1%	13.1%	-5.3%
FLO_11212025_Dip_Buyer_High_FCF_Yield_ExInd_DE_RevG	11212025	FLO	Flowers Foods	Dip Buy	DB \| FCF Yield \| Low D/EDip Buy with High Free Cash Flow Yield Buying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap	5.4%	5.4%	-1.6%
CLX_11142025_Dip_Buyer_FCFYield	11142025	CLX	Clorox	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-5.0%	-5.0%	-6.0%
SMPL_9122025_Dip_Buyer_FCFYield	09122025	SMPL	Simply Good Foods	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	-26.4%	-26.4%	-31.5%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ZETA	Zeta Global	4.6	8.3%	15.1%
SGML	Sigma Lithium	1.6	7.3%	29.2%
USAS	Americas Gold And Silver	1.6	6.6%	557.6%
CPNG	Coupang	44.2	6.4%	10.4%
LION	Lionsgate Studios	2.7	4.6%	-69.9%
BBW	Build-A-Bear Workshop	0.8	4.4%	37.8%
XRAY	Dentsply Sirona	2.3	4.2%	-36.3%
BLMN	Bloomin Brands	0.6	3.8%	-41.2%
FUN	Six Flags Entertainment	1.5	3.8%	-69.1%
SVM	Silvercorp Metals	1.9	3.6%	198.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
FLY	Firefly Aerospace	3.3	-13.7%	-61.3%
TMC	TMC The Metals	2.5	-10.5%	508.9%
ORGO	Organogenesis	0.7	-10.1%	64.8%
AAOI	Applied Optoelectronics	2.4	-9.3%	0.8%
BKSY	BlackSky Technology	0.7	-9.0%	79.0%
LUNR	Intuitive Machines	1.8	-8.7%	-16.0%
RCAT	Red Cat	0.8	-8.7%	-35.4%
RGTI	Rigetti Computing	6.7	-8.7%	46.7%
RDW	Redwire	1.0	-8.6%	-56.6%
RKLB	Rocket Lab	36.4	-8.5%	177.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	71.5%	59.0%
RZLT	Rezolute	0.3	44.3%	-45.5%
DVAX	Dynavax Technologies	1.8	41.5%	20.4%
LUNR	Intuitive Machines	1.8	40.6%	-16.0%
UAMY	United States Antimony	0.7	39.0%	252.5%
FOLD	Amicus Therapeutics	4.4	30.9%	51.3%
ADEA	Adeia	1.9	30.3%	23.0%
HUT	Hut 8	5.2	28.6%	142.3%
AAOI	Applied Optoelectronics	2.4	27.1%	0.8%
SGML	Sigma Lithium	1.6	24.9%	29.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
TPL	Texas Pacific Land	6.6	-67.9%	-21.5%
LW	Lamb Weston	5.9	-29.0%	-35.3%
TLRY	Tilray Brands	10.2	-22.2%	-27.8%
TDUP	ThredUp	0.8	-18.2%	348.2%
LAB	Standard BioTools	0.5	-16.9%	-21.1%
OLMA	Olema Pharmaceuticals	2.2	-14.9%	349.9%
EVEX	Eve	1.4	-12.0%	-21.9%
IRON	Disc Medicine	2.8	-11.2%	26.7%
AVO	Mission Produce	0.8	-11.1%	-18.8%
CABO	Cable One	0.7	-10.6%	-67.4%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
TLRY	Tilray Brands	10.2	876.4%	-27.8%
HPP	Hudson Pacific Properties	4.7	452.7%	-51.0%
WVE	WAVE Life Sciences	2.9	139.2%	43.7%
TE	T1 Energy	1.1	106.7%	400.0%
VERA	Vera Therapeutics	3.4	82.1%	26.7%
OMER	Omeros	0.9	66.2%	59.0%
RKLB	Rocket Lab	36.4	65.8%	177.4%
PL	Planet Labs PBC	5.9	65.0%	379.2%
AAOI	Applied Optoelectronics	2.4	63.5%	0.8%
LUNR	Intuitive Machines	1.8	62.4%	-16.0%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-45.5%
JANX	Janux Therapeutics	0.9	-59.0%	-73.4%
FRMI	Fermi	5.3	-46.0%	-76.6%
LENZ	LENZ Therapeutics	0.5	-43.5%	-41.6%
GOGO	Gogo	0.6	-35.3%	-43.0%
HPK	HighPeak Energy	0.5	-33.9%	-70.4%
PACB	Pacific Biosciences of California	0.5	-32.7%	-3.3%
LDI	loanDepot	0.4	-29.6%	3.9%
ORIC	ORIC Pharmaceuticals	0.6	-29.0%	2.2%
LW	Lamb Weston	5.9	-28.6%	-35.3%

Peer Comparisons for Simply Good Foods

Peers to compare with:

Financials

	SMPL	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Simply G.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Price	19.98	23.26	24.49	305.09	78.16	273.40	51.32
Mkt Cap	2.0	21.9	32.6	284.9	309.2	4,074.4	158.8
Rev LTM	1,451	55,295	34,296	65,402	57,696	408,625	56,496
Op Inc LTM	219	3,624	1,644	11,544	12,991	130,214	7,584
FCF LTM	156	2,800	627	11,854	12,733	96,184	7,327
FCF 3Y Avg	175	2,978	1,400	11,753	13,879	100,503	7,366
CFO LTM	178	3,697	2,919	13,483	13,744	108,565	8,590
CFO 3Y Avg	188	3,672	3,896	13,498	14,736	111,559	8,697

Growth & Margins

	SMPL	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Simply G.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Rev Chg LTM	9.0%	3.2%	13.8%	4.5%	8.9%	6.0%	7.4%
Rev Chg 3Y Avg	7.5%	-3.9%	6.5%	2.6%	3.7%	1.8%	3.2%
Rev Chg Q	-1.8%	4.2%	14.4%	9.1%	7.5%	9.6%	8.3%
QoQ Delta Rev Chg LTM	-0.5%	1.1%	3.7%	2.1%	1.8%	2.1%	2.0%
Op Mgn LTM	15.1%	6.6%	4.8%	17.7%	22.5%	31.9%	16.4%
Op Mgn 3Y Avg	16.1%	7.4%	7.2%	16.4%	24.2%	30.8%	16.2%
QoQ Delta Op Mgn LTM	-0.7%	-0.2%	-1.4%	0.6%	0.4%	0.1%	-0.1%
CFO/Rev LTM	12.3%	6.7%	8.5%	20.6%	23.8%	26.6%	16.5%
CFO/Rev 3Y Avg	14.1%	6.8%	12.7%	21.4%	26.1%	28.4%	17.8%
FCF/Rev LTM	10.7%	5.1%	1.8%	18.1%	22.1%	23.5%	14.4%
FCF/Rev 3Y Avg	13.1%	5.5%	4.6%	18.6%	24.6%	25.6%	15.9%

Valuation

	SMPL	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Simply G.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
Mkt Cap	2.0	21.9	32.6	284.9	309.2	4,074.4	158.8
P/S	1.4	0.4	1.0	4.4	5.4	10.0	2.9
P/EBIT	12.6	6.8	19.9	25.1	22.5	31.3	21.2
P/E	19.4	8.6	572.7	36.0	29.9	41.0	33.0
P/CFO	11.2	5.9	11.2	21.1	22.5	37.5	16.2
Total Yield	5.2%	14.1%	2.3%	5.0%	5.4%	2.8%	5.1%
Dividend Yield	0.0%	2.5%	2.1%	2.2%	2.1%	0.4%	2.1%
FCF Yield 3Y Avg	5.6%	10.6%	5.5%	6.4%	6.0%	3.1%	5.8%
D/E	0.2	0.5	0.7	0.2	0.1	0.0	0.2
Net D/E	0.1	0.3	0.6	0.2	0.0	0.0	0.1

Returns

	SMPL	HPQ	HPE	IBM	CSCO	AAPL	Median
Name	Simply G.	HP	Hewlett .	Internat.	Cisco Sy.	Apple
1M Rtn	1.3%	-1.8%	14.4%	0.6%	2.7%	-1.5%	1.0%
3M Rtn	-19.1%	-11.9%	2.7%	7.9%	17.0%	7.1%	4.9%
6M Rtn	-37.4%	-4.0%	34.5%	6.6%	15.2%	36.3%	10.9%
12M Rtn	-48.5%	-27.0%	16.2%	40.5%	34.5%	7.5%	11.8%
3Y Rtn	-47.0%	-1.9%	71.1%	143.1%	81.3%	120.2%	76.2%
1M Excs Rtn	-2.2%	-5.6%	12.9%	-2.2%	-0.0%	-3.7%	-2.2%
3M Excs Rtn	-23.5%	-16.2%	-1.7%	3.6%	12.7%	2.8%	0.6%
6M Excs Rtn	-49.6%	-16.3%	22.3%	-5.7%	3.0%	24.0%	-1.3%
12M Excs Rtn	-63.6%	-42.9%	-0.7%	25.0%	19.9%	-8.4%	-4.6%
3Y Excs Rtn	-128.4%	-83.5%	-11.2%	59.6%	-1.2%	28.4%	-6.2%

Comparison Analyses

	Title
0	How Does Simply Good Foods Stock Stack Up Against Its Peers?

FDIC Bank Data

Bank Capital

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Bank Deposits

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Bank Assets

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Bank Loans

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FDA Approved Drugs Data

Expand for Morenull

Financials

Annual
Quarterly

$ Mil \| FY: 8/30	LTM	2025	2024	2023	2022	2021	2020
Period End	8/30/2025	8/30/2025	8/31/2024	8/26/2023	8/27/2022	8/28/2021	8/29/2020
Filing Date	10/28/2025	10/28/2025	10/29/2024	10/24/2023	10/21/2022	10/26/2021	10/28/2020
Key Financials
Total Revenue	1,451	1,451	1,331	1,243	1,169	1,006	817
EBITDA	187	187	240	233	198	136	132
Operating Income	219	219	221	205	203	174	108
Net Income	104	104	139	134	109	41	66
EPS	1.03	1.03	1.39	1.34	1.10	0.43	0.70
Growth Rates
Total Revenue Growth	9.0%	9.0%	7.1%	6.3%	16.2%	23.1%	55.9%
EBITDA Growth	-21.9%	-21.9%	3.1%	17.3%	46.2%	3.0%	932.6%
Operating Income Growth	-1.1%	-1.1%	7.8%	1.1%	16.7%	60.3%	34.9%
Net Income Growth	-25.6%	-25.6%	4.3%	23.0%	165.6%	-37.7%	360.1%
Margins
EBITDA Margin	12.9%	12.9%	18.0%	18.7%	17.0%	13.5%	16.1%
Operating Income Margin	15.1%	15.1%	16.6%	16.5%	17.3%	17.3%	13.3%
Net Income Margin	7.1%	7.1%	10.5%	10.7%	9.3%	4.1%	8.0%
Cash & Debt
Total Cash	98	98	133	88	67	75	96
Total Debt	304	304	403	289	410	455	601
Net Debt / (Cash)	206	206	270	202	342	380	506
Cash Flows
Net Cash from Operations	178	178	216	171	111	132	59
Free Cash from Operations	156	156	209	159	105	125	56
Returns to Shareholders
Dividends	0	-0	-0	-0	-0	-0	-0
Share Repurchases	27	51	-0	16	60	-0	-0

$ Mil \| FY: 8/30	2025Q4	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1
Period End	8/30/2025	5/31/2025	3/1/2025	11/30/2024	8/31/2024	5/25/2024	2/24/2024	11/25/2023	8/26/2023	5/27/2023	2/25/2023	11/26/2022
Filing Date	10/28/2025	7/10/2025	4/9/2025	1/8/2025	10/29/2024	6/27/2024	4/4/2024	1/4/2024	10/24/2023	6/29/2023	4/5/2023	1/5/2023
Key Financials Quarterly
Total Revenue	369	381	360	341	376	335	312	309	320	325	297	301
Ebitda	-4	67	62	62	57	67	56	60	63	62	49	59
Operating Income	49	59	55	55	60	61	48	52	56	54	43	52
Net Income	-12	41	37	38	29	41	33	36	37	35	26	36
EPS	-0.12	0.41	0.36	0.38	0.29	0.41	0.33	0.36	0.37	0.36	0.26	0.36
Key Financials TTM
Total Revenue TTM	1,451	1,458	1,411	1,364	1,331	1,276	1,266	1,250	1,243	1,196	1,188	1,188
Ebitda TTM	187	248	248	242	240	246	241	234	233	219	220	211
Operating Income TTM	219	229	231	224	221	217	210	204	205	193	194	197
Net Income TTM	104	145	145	142	139	147	141	133	134	127	130	123
Growth Rates Quarterly
Total Revenue Growth	-1.8%	13.8%	15.2%	10.6%	17.2%	3.1%	5.3%	2.6%	16.9%	2.6%	-0.0%	7.0%
EBITDA Growth	-106.5%	0.3%	11.0%	2.9%	-9.1%	8.1%	13.8%	2.1%	27.2%	-0.4%	21.5%	26.7%
Operating Income Growth	-17.6%	-3.5%	14.2%	6.7%	7.0%	13.4%	13.1%	-1.3%	28.1%	-1.9%	-7.5%	-9.5%
Net Income Growth	-142.2%	-0.6%	10.9%	7.2%	-20.1%	16.7%	29.2%	-0.8%	21.6%	-8.8%	38.9%	69.5%
Margins Quarterly
EBITDA Margin	-1.0%	17.5%	17.3%	18.2%	15.2%	19.9%	17.9%	19.6%	19.6%	19.0%	16.6%	19.7%
Operating Income Margin	13.3%	15.6%	15.3%	16.2%	15.9%	18.4%	15.4%	16.8%	17.4%	16.7%	14.3%	17.4%
Net Income Margin	-3.3%	10.8%	10.2%	11.2%	7.8%	12.3%	10.6%	11.5%	11.4%	10.9%	8.6%	11.9%
Cash & Debt
Total Cash	98	98	104	122	133	209	136	121	88	69	63	54
Total Debt	304	249	299	348	403	238	238	272	289	367	411	397
Net Debt / (Cash)	206	151	195	226	270	29	102	151	202	299	348	343
Cash Flows Quarterly
FCF from Operations	45	70	31	32	49	73	46	48	61	57	45	9
Cash Flows TTM
FCF from Operations TTM	178	182	185	200	216	227	212	210	171	154	134	127
Returns to Shareholders Quarterly
Dividends	0	0	0	0	0	0	0	0	0	0	0	0
Share Repurchases	27	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	16
Return on Invested Capital (ROIC) Quarterly
ROIC	12.1%	13.9%	12.0%	12.6%	11.9%	15.7%	11.7%	12.1%	12.4%	11.3%	8.6%	11.2%
Return on Invested Capital (ROIC) TTM
ROIC TTM	12.9%	13.5%	12.8%	12.2%	11.6%	13.8%	12.6%	11.9%	11.6%	10.4%	10.2%	10.1%

Segment Financials

Revenue by Segment

$ Mil	2025	2024	2023	2022
Single Segment	1,243	1,169	1,006	817
Total	1,243	1,169	1,006	817

Price Behavior

Price Behavior

Market Price	$19.98
Market Cap ($ Bil)	2.0
First Trading Date	09/10/2014
Distance from 52W High	-49.4%
	50 Days	200 Days
DMA Price	$20.10	$28.80
DMA Trend	down	down
Distance from DMA	-0.6%	-30.6%
	3M	1YR
Volatility	44.3%	34.4%
Downside Capture	-38.90	61.02
Upside Capture	-132.22	-14.68
Correlation (SPY)	-11.7%	25.6%

SMPL Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	-0.80	-0.37	-0.27	0.24	0.46	0.50
Up Beta	-2.41	-0.54	-0.29	0.28	0.76	0.69
Down Beta	-0.79	0.83	0.47	0.26	0.26	0.36
Up Capture	-18%	-137%	-122%	-46%	-6%	7%
Bmk +ve Days	13	26	39	74	142	427
Stock +ve Days	11	21	26	55	115	363
Down Capture	-55%	-27%	20%	111%	76%	85%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	9	20	35	68	131	381

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of SMPL With Other Asset Classes (Last 1Y)
	SMPL	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-47.9%	0.5%	17.8%	72.1%	8.6%	4.4%	-8.2%
Annualized Volatility	34.1%	13.9%	19.4%	19.3%	15.2%	17.0%	35.0%
Sharpe Ratio	-1.86	-0.20	0.72	2.70	0.34	0.09	-0.08
Correlation With Other Assets		48.2%	25.9%	-4.1%	-7.3%	41.1%	4.7%

ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data

		Comparison of SMPL With Other Asset Classes (Last 5Y)
	SMPL	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-5.0%	5.7%	14.7%	18.7%	11.5%	4.6%	30.8%
Annualized Volatility	32.3%	13.0%	17.1%	15.5%	18.7%	18.9%	48.6%
Sharpe Ratio	-0.10	0.23	0.70	0.97	0.50	0.16	0.57
Correlation With Other Assets		42.9%	39.2%	4.7%	7.9%	39.5%	16.0%

Based On 10-Year Data

		Comparison of SMPL With Other Asset Classes (Last 10Y)
	SMPL	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	6.2%	7.3%	14.8%	15.3%	7.0%	5.3%	69.2%
Annualized Volatility	35.6%	14.7%	18.0%	14.7%	17.6%	20.8%	55.8%
Sharpe Ratio	0.27	0.37	0.71	0.86	0.32	0.22	0.90
Correlation With Other Assets		43.8%	42.8%	1.0%	14.8%	38.1%	10.3%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	4,338,312
Short Interest: % Change Since 11302025	-14.1%
Average Daily Volume	1,490,980
Days-to-Cover Short Interest	2.91
Basic Shares Quantity	100,419,463
Short % of Basic Shares	4.3%

Returns Analyses

	Title
0	How Low Can Simply Good Foods Stock Really Go?

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/23/2025	-17.3%	-21.1%	-19.4%
7/10/2025	-0.1%	2.3%	-7.2%
4/9/2025	9.2%	13.6%	8.0%
1/8/2025	-2.5%	-10.3%	0.3%
10/24/2024	3.3%	5.2%	21.3%
10/24/2023	6.9%	13.4%	20.5%
6/29/2023	3.4%	7.8%	10.1%
4/5/2023	-4.8%	-6.4%	-4.4%
...
SUMMARY STATS
# Positive	7	8	7
# Negative	9	8	9
Median Positive	4.7%	7.8%	10.1%
Median Negative	-8.3%	-9.0%	-7.2%
Max Positive	9.2%	17.0%	21.3%
Max Negative	-17.3%	-21.1%	-20.8%

	Forward Returns
10/23/2025	-17.3%	-21.1%	-19.4%
7/10/2025	-0.1%	2.3%	-7.2%
4/9/2025	9.2%	13.6%	8.0%
1/8/2025	-2.5%	-10.3%	0.3%
10/24/2024	3.3%	5.2%	21.3%
10/24/2023	6.9%	13.4%	20.5%
6/29/2023	3.4%	7.8%	10.1%
4/5/2023	-4.8%	-6.4%	-4.4%
1/5/2023	-8.7%	-6.5%	-5.6%
6/30/2022	-8.3%	-7.4%	-20.8%
4/6/2022	4.7%	7.8%	-0.2%
1/5/2022	-8.2%	-7.8%	-16.4%
10/22/2021	8.6%	17.0%	13.7%
4/7/2021	1.0%	4.6%	8.8%
4/6/2020	-8.7%	-11.5%	-3.2%
1/9/2020	-10.7%	-13.2%	-16.9%
SUMMARY STATS
# Positive	7	8	7
# Negative	9	8	9
Median Positive	4.7%	7.8%	10.1%
Median Negative	-8.3%	-9.0%	-7.2%
Max Positive	9.2%	17.0%	21.3%
Max Negative	-17.3%	-21.1%	-20.8%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
8312025	10282025	10-K 8/30/2025
5312025	7102025	10-Q 5/31/2025
2282025	4092025	10-Q 3/1/2025
11302024	1082025	10-Q 11/30/2024
8312024	10292024	10-K 8/31/2024
5312024	6272024	10-Q 5/25/2024
2292024	4042024	10-Q 2/24/2024
11302023	1042024	10-Q 11/25/2023
8312023	10242023	10-K 8/26/2023
5312023	6292023	10-Q 5/27/2023
2282023	4052023	10-Q 2/25/2023
11302022	1052023	10-Q 11/26/2022
8312022	10212022	10-K 8/27/2022
5312022	6302022	10-Q 5/28/2022
2282022	4062022	10-Q 2/26/2022
11302021	1052022	10-Q 11/27/2021

Insider Activity

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Industry Resources

Packaged Foods & Meats Resources

USDA Data

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Simply Good Foods (SMPL)

Market Price (12/28/2025): $20.02 | Market Cap: $2.0 BilSector: Consumer Staples | Industry: Packaged Foods & Meats

Simply Good Foods (SMPL)

Market Price (12/28/2025): $20.02Market Cap: $2.0 BilSector: Consumer StaplesIndustry: Packaged Foods & Meats

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

SMPL Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Simply Good Foods (SMPL)

Addressable Markets for Simply Good Foods' Main Products:

Share Repurchases

Share Issuance

Outbound Investments

Capital Expenditures

Interactive Breakdown

Better Bets than Simply Good Foods (SMPL)

INDUSTRY: Packaged Foods & Meats

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMPL: 7.5% | 1.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMPL: 7.5% | 9.2x)

Higher Rev Chg LTM (Value for SMPL: 9.0%)

Higher Rev Chg 3Y Avg (Value for SMPL: 7.5%)

Higher Op Mgn LTM (Value for SMPL: 15.1%)

Higher CFO/Rev LTM (Value for SMPL: 12.3%)

Higher FCF/Rev LTM (Value for SMPL: 10.7%)

Higher Total Yield (Value for SMPL: 5.2%)

SECTOR: Consumer Staples

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMPL: 7.5% | 1.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMPL: 7.5% | 9.2x)

Higher Rev Chg LTM (Value for SMPL: 9.0%)

Higher Rev Chg 3Y Avg (Value for SMPL: 7.5%)

Higher Op Mgn LTM (Value for SMPL: 15.1%)

Higher CFO/Rev LTM (Value for SMPL: 12.3%)

Higher FCF/Rev LTM (Value for SMPL: 10.7%)

Higher Total Yield (Value for SMPL: 5.2%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for SMPL: 7.5% | 1.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for SMPL: 7.5% | 9.2x)

Higher Rev Chg LTM (Value for SMPL: 9.0%)

Higher Rev Chg 3Y Avg (Value for SMPL: 7.5%)

Higher Op Mgn LTM (Value for SMPL: 15.1%)

Higher CFO/Rev LTM (Value for SMPL: 12.3%)

Higher FCF/Rev LTM (Value for SMPL: 10.7%)

Higher Total Yield (Value for SMPL: 5.2%)

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Market Price (12/28/2025): $20.02 | Market Cap: $2.0 Bil
Sector: Consumer Staples | Industry: Packaged Foods & Meats

Market Price (12/28/2025): $20.02
Market Cap: $2.0 Bil
Sector: Consumer Staples
Industry: Packaged Foods & Meats