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Stocks · Consumer staples · Dairy Products

Lifeway Foods, Inc.

LWAY Clue Score73
United States Fiscal year ends December CIK 0000814586
$22.16 +5.07% Close, 9 Oct 2026
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Price $22.16 +302.91% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Operating income6.1Net income3.5EPS, diluted0.22Fiscal year 2017Revenue118.9Operating income−0.5Net income−0.3 −109.9%EPS, diluted−0.02 −109.1%Fiscal year 2018Revenue103.4 −13.1%Operating income−3.1Net income−3.1EPS, diluted−0.19Fiscal year 2019Revenue93.7 −9.4%Operating income−1.9Net income0.5EPS, diluted0.03Fiscal year 2020Revenue102.0 +8.9%Operating income4.9Net income3.2 +613.5%EPS, diluted0.21 +600.0%Fiscal year 2021Revenue119.1 +16.7%Operating income5.9Net income3.3 +2.4%EPS, diluted0.21 +0.0%Fiscal year 2022Revenue141.6 +18.9%Operating income2.3Net income0.9 −72.1%EPS, diluted0.06 −71.4%Fiscal year 2023Revenue160.1 +13.1%Operating income17.0Net income11.4 +1,130.2%EPS, diluted0.75 +1,150.0%Fiscal year 2024Revenue186.8 +16.7%Operating income13.9Net income9.0 −20.6%EPS, diluted0.60 −20.0%Fiscal year 2025Revenue212.5 +13.7%Operating income16.2Net income13.9 +53.6%EPS, diluted0.89 +48.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 118.9 103.4 93.7 102.0 119.1 141.6 160.1 186.8 212.5
Growth −13.1% −9.4% +8.9% +16.7% +18.9% +13.1% +16.7% +13.7%
Operating income 6.1 −0.5 −3.1 −1.9 4.9 5.9 2.3 17.0 13.9 16.2
Net income 3.5 −0.3 −3.1 0.5 3.2 3.3 0.9 11.4 9.0 13.9
Growth −109.9% +613.5% +2.4% −72.1% +1,130.2% −20.6% +53.6%
EPS, diluted 0.22 −0.02 −0.19 0.03 0.21 0.21 0.06 0.75 0.60 0.89
Growth −109.1% +600.0% +0.0% −71.4% +1,150.0% −20.0% +48.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Fiscal year 2017Gross margin25.8%Operating margin−0.4%Net margin−0.3%Free cash flow margin−1.3%Fiscal year 2018Gross margin25.0%Operating margin−3.0%Net margin−3.0%Free cash flow margin−0.4%Fiscal year 2019Gross margin23.6%Operating margin−2.1%Net margin0.5%Free cash flow margin2.8%Fiscal year 2020Gross margin26.4%Operating margin4.8%Net margin3.2%Free cash flow margin4.4%Fiscal year 2021Gross margin24.1%Operating margin4.9%Net margin2.8%Free cash flow margin3.1%Fiscal year 2022Gross margin18.9%Operating margin1.7%Net margin0.7%Free cash flow margin0.4%Fiscal year 2023Gross margin26.5%Operating margin10.6%Net margin7.1%Free cash flow margin7.9%Fiscal year 2024Gross margin26.0%Operating margin7.4%Net margin4.8%Free cash flow margin3.4%Fiscal year 2025Gross margin27.4%Operating margin7.6%Net margin6.5%Free cash flow margin−7.7%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a 25.8% 25.0% 23.6% 26.4% 24.1% 18.9% 26.5% 26.0% 27.4%
Operating margin n/a −0.4% −3.0% −2.1% 4.8% 4.9% 1.7% 10.6% 7.4% 7.6%
Net margin n/a −0.3% −3.0% 0.5% 3.2% 2.8% 0.7% 7.1% 4.8% 6.5%
Free cash flow margin n/a −1.3% −0.4% 2.8% 4.4% 3.1% 0.4% 7.9% 3.4% −7.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow5.1Capital expenditure−3.2Free cash flow1.9Buybacks−0.7Fiscal year 2017Operating cash flow3.8Capital expenditure−5.3Free cash flow−1.5 −182.1%Buybacks−1.5Fiscal year 2018Operating cash flow2.4Capital expenditure−2.8Free cash flow−0.4Buybacks−1.4Fiscal year 2019Operating cash flow3.8Capital expenditure−1.2Free cash flow2.6Buybacks−0.5Fiscal year 2020Operating cash flow6.4Capital expenditure−1.9Free cash flow4.5 +70.5%Buybacks−0.4Fiscal year 2021Operating cash flow5.6Capital expenditure−1.9Free cash flow3.6 −18.9%Buybacks−1.6Fiscal year 2022Operating cash flow4.0Capital expenditure−3.4Free cash flow0.5 −85.2%Buybacks−4.0Fiscal year 2023Operating cash flow16.9Capital expenditure−4.4Free cash flow12.6 +2,240.1%Buybacks0.0Fiscal year 2024Operating cash flow13.0Capital expenditure−6.7Free cash flow6.3 −50.2%Fiscal year 2025Operating cash flow10.9Capital expenditure−27.4Free cash flow−16.4 −362.0%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 5.1 3.8 2.4 3.8 6.4 5.6 4.0 16.9 13.0 10.9
Capital expenditure −3.2 −5.3 −2.8 −1.2 −1.9 −1.9 −3.4 −4.4 −6.7 −27.4
Free cash flow 1.9 −1.5 −0.4 2.6 4.5 3.6 0.5 12.6 6.3 −16.4
Growth −182.1% +70.5% −18.9% −85.2% +2,240.1% −50.2% −362.0%
Buybacks −0.7 −1.5 −1.4 −0.5 −0.4 −1.6 −4.0 0.0 n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash8.8Total debt7.1Net cash (debt)1.7Shareholders’ equity48.4Debt to equity0.15Fiscal year 2017Cash5.0Total debt6.3Net cash (debt)−1.3Shareholders’ equity46.6Debt to equity0.13Fiscal year 2018Cash3.0Shareholders’ equity42.4Fiscal year 2019Cash3.8Shareholders’ equity43.3Fiscal year 2020Cash7.9Total debt0.0Net cash (debt)7.9Shareholders’ equity46.9Debt to equity0.00Fiscal year 2021Cash9.2Total debt4.5Net cash (debt)4.8Shareholders’ equity49.1Debt to equity0.09Fiscal year 2022Cash4.4Total debt3.7Net cash (debt)0.7Shareholders’ equity47.6Debt to equity0.08Fiscal year 2023Cash13.2Total debt2.8Net cash (debt)10.4Shareholders’ equity60.4Debt to equity0.05Fiscal year 2024Cash16.7Shareholders’ equity71.9Fiscal year 2025Cash5.6Shareholders’ equity85.8
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 8.8 5.0 3.0 3.8 7.9 9.2 4.4 13.2 16.7 5.6
Total debt 7.1 6.3 n/a n/a 0.0 4.5 3.7 2.8 n/a n/a
Net cash (debt) 1.7 −1.3 n/a n/a 7.9 4.8 0.7 10.4 n/a n/a
Shareholders’ equity 48.4 46.6 42.4 43.3 46.9 49.1 47.6 60.4 71.9 85.8
Debt to equity 0.15 0.13 n/a n/a 0.00 0.09 0.08 0.05 n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
n/a 118.9 103.4 93.7 102.0 119.1 141.6 160.1 186.8 212.5
Growth −13.1% −9.4% +8.9% +16.7% +18.9% +13.1% +16.7% +13.7%
n/a 88.2 77.5 71.5 75.1 90.4 114.8 117.7 138.2 154.3
35.0 30.7 25.9 22.1 26.9 28.7 26.8 42.4 48.6 58.2
Growth −12.4% −15.8% −14.3% +21.6% +6.6% −6.7% +58.4% +14.5% +19.8%
13.8 14.0 13.6 12.8 11.7 11.6 12.6 13.1 19.4 21.6
6.1 −0.5 −3.1 −1.9 4.9 5.9 2.3 17.0 13.9 16.2
Growth −108.6% +19.4% −60.1% +623.5% −18.5% +16.7%
5.6 −0.8 −3.3 1.2 4.8 5.6 1.8 16.6 14.0 19.7
2.2 −0.5 −0.2 0.8 1.6 2.3 0.9 5.3 4.9 5.8
3.5 −0.3 −3.1 0.5 3.2 3.3 0.9 11.4 9.0 13.9
Growth −109.9% +613.5% +2.4% −72.1% +1,130.2% −20.6% +53.6%
Per share
0.22 −0.02 −0.19 0.03 0.21 0.21 0.06 0.77 0.61 0.91
0.22 −0.02 −0.19 0.03 0.21 0.21 0.06 0.75 0.60 0.89
Growth −109.1% +600.0% +0.0% −71.4% +1,150.0% −20.0% +48.3%
16.2 16.1 15.9 15.7 15.6 15.5 15.4 14.7 14.8 15.2
16.2 16.1 16.3 15.8 15.8 15.8 15.7 15.1 15.1 15.5
Growth −0.3% +1.3% −3.2% −0.2% +0.0% −0.3% −3.9% +0.2% +2.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 15.8% a year over five years, and earnings per share grew 33.5% a year.
  • The diluted share count fell 1.4% in five years, so buybacks did some of the work per share.
  • Operating margin is up 2.8 points on five years ago, at 7.6%.
  • A net loss in 2 of 10 years on file.