A Business at a Glance
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Lifeway Foods, Inc.
LWAY
$474M
Mkt Cap
$30.44
+0.36%
Lifeway Foods, Inc. (LWAY) has a current P/E ratio of 41.1, compared to its historical median P/E of 32.5. The stock is currently considered Fair based on its historical valuation range.
Lifeway Foods, Inc. (LWAY) has a 5-year average return on invested capital (ROIC) of 13.5%. This indicates solid capital allocation.
Lifeway Foods, Inc. (LWAY) has a market capitalization of $474M. It is classified as a small-cap stock.
Lifeway Foods, Inc. (LWAY) does not currently pay a regular dividend.
Based on historical P/E analysis, Lifeway Foods, Inc. (LWAY) appears fair. The current P/E of 41.1 is 27% above its historical median of 32.5. The estimated fair value CAGR (P/E method) is 43.0%.
Lifeway Foods, Inc. (LWAY) operates in the Dairy Products industry, within the Consumer Defensive sector.
Lifeway Foods, Inc. (LWAY) reported annual revenue of $212 million in its most recent fiscal year, based on SEC EDGAR filings.
Lifeway was founded in 1986 by Michael Smolyansky, ten years after he and his family emigrated from Eastern Europe to the United States. Lifeway was the first to successfully introduce kefir to the U.S. consumer on a commercial scale, initially catering to ethnic consumers in the Chicago, Illinois metropolitan area. Lifeway has grown to become the largest producer and marketer of kefir in the U.S. and an important player in the broader market spaces of probiotic-based products and natural, “better for you” foods. Our primary product is drinkable kefir, a cultured dairy product. Lifeway kefir is tart and tangy, high in protein, calcium and vitamin D. Thanks to our exclusive blend of kefir cultures, each cup of our flagship low fat kefir contains 12 live and active cultures and 25 to 30 billion beneficial CFU (Colony Forming Units) at the time of manufacture.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 212M | 212M | 187M | 160M | 142M | 119M |
| Net Income | 14M | 14M | 9.0M | 11M | 924K | 3.3M |
| EPS | $0.89 | $0.89 | $0.60 | $0.75 | $0.06 | $0.21 |
| Free Cash Flow | -16M | -16M | 6.3M | 13M | 538K | 3.6M |
| ROIC | 14.1% | 16.8% | 16.8% | 23.0% | 2.9% | 7.9% |
| Gross Margin | 27.4% | 27.4% | 26.0% | 26.5% | 18.9% | 24.1% |
| Debt/Equity | 0.00 | 0.00 | 0.00 | 0.07 | 0.14 | 0.15 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 16M | 16M | 14M | 17M | 2.3M | 5.9M |
| Operating Margin | 7.6% | 7.6% | 7.4% | 10.6% | 1.7% | 4.9% |
| ROE | 16.1% | 17.6% | 13.6% | 21.0% | 1.9% | 6.9% |
| Shares Outstanding | 16M | 16M | 15M | 15M | 15M | 16M |
| Metric | 2016 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 130M | 137M | 124M | 119M | 103M | 94M | 102M | 119M | 142M | 160M | 187M | 212M | 212M |
| Gross Margin | 22.2% | 21.8% | 28.3% | 25.8% | 25.0% | 23.6% | 26.4% | 24.1% | 18.9% | 26.5% | 26.0% | 27.4% | 27.4% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 12M | 13M | 14M | 14M | 14M | 13M | 12M | 12M | 13M | 13M | 19M | 22M | 22M |
| EBIT | 4.2M | 4.4M | 6.1M | -526K | -3.1M | -1.9M | 4.9M | 5.9M | 2.3M | 17M | 14M | 16M | 16M |
| Op. Margin | 3.3% | 3.2% | 4.9% | -0.4% | -3.0% | -2.1% | 4.8% | 4.9% | 1.7% | 10.6% | 7.4% | 7.6% | 7.6% |
| Net Income | 2.0M | 2.0M | 3.5M | -346K | -3.1M | 453K | 3.2M | 3.3M | 924K | 11M | 9.0M | 14M | 14M |
| Net Margin | 1.5% | 1.4% | 2.8% | -0.3% | -3.0% | 0.5% | 3.2% | 2.8% | 0.7% | 7.1% | 4.8% | 6.5% | 6.5% |
| Non-Recurring | 7K | 253K | -284K | -38K | 1.3M | 189K | -28K | -88K | -241K | 34K | -8K | 115K | 115K |
| Returns on Capital | |||||||||||||
| ROIC | 5.1% | 5.1% | 7.7% | -0.6% | -6.5% | 1.0% | 7.7% | 7.9% | 2.9% | 23.0% | 16.8% | 16.8% | 14.1% |
| ROE | 4.5% | 4.4% | 7.4% | -0.7% | -6.9% | 1.1% | 7.2% | 6.9% | 1.9% | 21.0% | 13.6% | 17.6% | 16.1% |
| ROA | 3.1% | 3.1% | 5.3% | -0.5% | -5.1% | 0.8% | 5.5% | 5.0% | 1.3% | 15.1% | 10.5% | 14.1% | 13.1% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 5.1M | 6.7M | 5.1M | 3.8M | 2.4M | 3.8M | 6.4M | 5.6M | 4.0M | 17M | 13M | 11M | 11M |
| Free Cash Flow | 1.4M | 4.8M | 1.9M | -1.5M | -407K | 2.6M | 4.5M | 3.6M | 538K | 13M | 6.3M | -16M | -16M |
| Owner Earnings | 1.8M | 3.6M | 1.8M | 100K | -1.9M | -365K | 2.8M | 1.5M | -94K | 12M | 7.1M | 5.0M | 5.0M |
| CapEx | 3.7M | 2.0M | 3.2M | 5.3M | 2.8M | 1.2M | 1.9M | 1.9M | 3.4M | 4.4M | 6.7M | 27M | 27M |
| Maint. CapEx | 3.3M | 3.1M | 3.0M | 3.1M | 3.5M | 3.3M | 3.2M | 2.9M | 3.0M | 3.2M | 3.4M | 4.0M | 4.0M |
| Growth CapEx | 432K | 0 | 217K | 2.2M | 0 | 0 | 0 | 0 | 477K | 1.2M | 3.3M | 23M | 23M |
| D&A | 3.3M | 3.1M | 3.0M | 3.1M | 3.5M | 3.3M | 3.2M | 2.9M | 3.0M | 3.2M | 3.4M | 4.0M | 4.0M |
| CapEx/OCF | N/A | N/A | N/A | 140.3% | 116.8% | 30.9% | 29.7% | 34.5% | 86.5% | 25.7% | 51.7% | N/A | 249.9% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 1.5M | 738K | 1.5M | 1.4M | 538K | 405K | 1.6M | 4.0M | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 1.1% | 4.4% | 1.7% | 0.5% | 2.1% | 4.7% | N/A | N/A | 0.0% | 0.0% |
| Stock-Based Comp | N/A | 0 | 326K | 596K | 802K | 838K | 393K | 1.1M | 1.1M | 1.5M | 2.4M | 1.9M | 1.9M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | 8.0M | 5.2M | -853K | 4.5M | 2.5M | 918K | -4.8M | -1.9M | 2.2M | -9.1M | -17M | -5.2M | -5.2M |
| Cash & Equiv. | 3.3M | 5.6M | 8.8M | 5.0M | 3.0M | 3.8M | 7.9M | 9.2M | 4.4M | 13M | 17M | 5.6M | 5.6M |
| Long-Term Debt | 8.1M | 7.1M | 7.1M | 6.3M | 0 | 2.7M | 0 | 3.5M | 2.5M | 2.8M | 0 | 0 | N/A |
| Debt/Equity | 0.31 | 0.29 | 0.16 | 0.20 | 0.14 | 0.14 | 0.07 | 0.15 | 0.14 | 0.07 | 0.00 | 0.00 | 0.00 |
| Interest Coverage | 15.3 | 18.7 | 27.7 | -2.2 | -11.5 | -7.8 | 41.7 | 50.7 | 8.8 | 44.3 | 131.9 | 210.0 | 210.0 |
| Equity | 45M | 45M | 48M | 47M | 42M | 43M | 47M | 49M | 48M | 60M | 72M | 86M | 86M |
| Total Assets | 63M | 65M | 65M | 65M | 57M | 57M | 61M | 71M | 69M | 82M | 91M | 106M | 106M |
| Total Liabilities | 19M | 20M | 17M | 18M | 14M | 14M | 14M | 22M | 21M | 21M | 19M | 20M | 20M |
| Intangibles | 3.1M | 2.3M | 12M | 975K | 344K | 152K | 0 | 8.0M | 7.4M | 6.9M | 6.4M | 5.8M | 5.8M |
| Retained Earnings | 45M | 47M | 50M | 50M | 47M | 47M | 50M | 54M | 54M | 66M | 75M | 89M | 89M |
| Working Capital | 16M | 16M | 18M | 11M | 11M | 9.7M | 16M | 17M | 14M | 22M | 28M | 20M | 20M |
| Current Assets | 24M | 27M | 28M | 25M | 19M | 19M | 24M | 29M | 27M | 38M | 44M | 37M | 37M |
| Current Liabilities | 8.5M | 11M | 9.4M | 13M | 7.5M | 9.5M | 8.4M | 12M | 13M | 17M | 16M | 17M | 17M |
| Per Share Data | |||||||||||||
| EPS | 119.66 | 121.65 | 0.22 | -0.02 | -0.19 | 0.03 | 0.21 | 0.21 | 0.06 | 0.75 | 0.60 | 0.89 | 0.89 |
| Owner EPS | 112.57 | 223.07 | 0.11 | 0.01 | -0.11 | -0.02 | 0.18 | 0.10 | -0.01 | 0.81 | 0.47 | 0.32 | 0.32 |
| Book Value | 2,734.61 | 2,791.92 | 3.06 | 2.69 | 2.61 | 2.86 | 3.04 | 3.12 | 3.09 | 3.99 | 4.78 | 5.51 | 5.51 |
| Cash Flow/Share | 311.51 | 416.10 | 0.32 | 0.22 | 0.15 | 0.25 | 0.41 | 0.35 | 0.26 | 1.12 | 0.86 | 0.70 | 1.15 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 0.0M | 0.0M | 15.8M | 17.3M | 16.2M | 15.1M | 15.4M | 15.8M | 15.4M | 15.2M | 15.0M | 15.6M | 15.6M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | 70.0 | 25.5 | 23.2 | 92.3 | 17.8 | 39.5 | N/A | 34.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | 12.0 | 18.4 | 21.1 | 158.6 | 16.1 | 56.9 | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | 15.7 | 12.0 | 35.6 | 11.2 | 24.5 | N/A | 29.0 |
| Price/Book | N/A | N/A | N/A | 3.0 | 0.7 | 0.7 | 1.8 | 1.6 | 1.8 | 3.3 | 5.0 | N/A | 5.5 |
| Price/Sales | N/A | N/A | N/A | 1.4 | 0.8 | 0.4 | 0.5 | 0.7 | 0.6 | 0.8 | 1.5 | N/A | 2.2 |
| FCF Yield | N/A | N/A | N/A | -1.1% | -1.3% | 8.3% | 5.4% | 4.7% | 0.6% | 6.2% | 1.8% | N/A | -3.5% |
| Market Cap | 0 | 0 | 0 | 140M | 31M | 32M | 82M | 77M | 85M | 202M | 356M | 0 | 474M |
| Avg. Price | 0.00 | 0.00 | 0.00 | 9.85 | 4.82 | 2.46 | 3.59 | 5.62 | 5.81 | 8.31 | 18.16 | 0.00 | 30.44 |
| Year-End Price | 0.00 | 0.00 | 0.00 | 8.08 | 1.92 | 2.10 | 5.36 | 4.88 | 5.54 | 13.35 | 23.69 | 0.00 | 30.44 |
Lifeway Foods, Inc. passes 4 of 9 quality checks, suggesting mixed fundamentals.
Lifeway Foods, Inc. trades at 41.1x trailing earnings, compared to its 15-year median P/E of 32.5x, suggesting it is currently Fair relative to its historical range. The company's 5-year average ROIC is 13.5% with a gross margin of 24.6%. At current prices, the estimated annualized return to fair value is +24.3%.
Lifeway Foods, Inc. (LWAY) has a net profit margin of 6.5%. This is a modest margin.
Lifeway Foods, Inc. (LWAY) generated $-16 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Lifeway Foods, Inc. (LWAY) has a debt-to-equity ratio of 0.00. This indicates a conservatively financed balance sheet.
Lifeway Foods, Inc. (LWAY) reported earnings per share (EPS) of $0.89 in its most recent fiscal year.
Lifeway Foods, Inc. (LWAY) has a return on equity (ROE) of 17.6%. This indicates the company generates strong returns for shareholders.
Lifeway Foods, Inc. (LWAY) has a 5-year average gross margin of 24.6%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for Lifeway Foods, Inc. (LWAY), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Lifeway Foods, Inc. (LWAY) has a book value per share of $5.51, based on its most recent annual SEC filing.