Lifeway Foods, Inc. LWAY R2K

Consumer Defensive · Packaged Foods · United States

Lifeway Foods, Inc. produces and markets probiotic-based products in North America. The company's primary product is drinkable kefir, a cultured dairy product in various organic and non-organic sizes, flavors, and milk types. It offers European-style soft cheeses, including farmer and white cheeses, and sweet kiss; cream and other products; drinkable yogurt; ProBugs, a line of kefir products designed for children; and Fresh Made butter and sour cream. The company sells its products under the Lifeway, Fresh Made, and GlenOaks Farms brand names, as well as under private labels on behalf of customers primarily through direct sales force, brokers, and distributors. Lifeway Foods, Inc. was incorporated in 1986 and is based in Morton Grove, Illinois.

Market & Price

Market Cap

$364.17M

Current Price

$23.83

High / Low (52W)

$33.82 / $17.80

Beta

0.53

Valuation

Stock P/E

24.82

Industry PE

18.88

Forward P/E

17.39

PEG Ratio

3.50

Book Value

$5.91

Price to Book

4.03

P/S

1.59

EV/EBITDA

14.63

Dividend Yield

Profitability & Returns

ROCE

22.21%

ROE

18.23%

ROA

12.21%

Profit Margin

6.53%

Op Margin

10.04%

EPS (Latest Qtr)

$0.30

EPS (TTM)

$0.96

Balance Sheet & Liquidity

Debt/Equity

0.08

Quick Ratio

1.44

Current Ratio

2.14

Debt

$7.49M

Total Assets

$105.61M

Current Assets

$37.06M

Working Capital

$20.42M

Ownership

Promoter Holding

39.39%

Chg in Prom Hold

FII / Inst Holding

42.93%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$366.06M

Total Revenue (TTM)

$229.42M

EBITDA

$25.02M

Free Cash Flow

$-22.56M

Operating Cash Flow

$15.48M

Shares Outstanding

15.28M

Gross Margin

29.67%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

14.50%

Profit 5Y

146.62%

Revenue (YoY)

36.70%

Earnings (YoY)

30.40%

PROS

Healthy ROCE of 22.2%.
Compounding revenue at 14.5% over 5 years.
Profit CAGR of 146.6% over 5 years.

CONS

Trading 29.5% below its 52-week high.
In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Consumer Defensive).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	LWAY Lifeway Foods, Inc. R2K	23.83	24.82	$364.17M	-	22.21%	18.23%	14.50%	146.62%
2	WMT Walmart Inc. SPX	115.75	40.76	$922.64B	0.86%	18.21%	24.13%	5.27%	23.30%
3	COST Costco Wholesale Corporation NDXSPX	956.32	49.76	$424.27B	0.61%	27.44%	29.65%	6.64%	11.49%
4	KO The Coca-Cola Company SPX	79.01	24.85	$339.94B	2.68%	21.13%	43.37%	3.69%	11.16%
5	PG The Procter & Gamble Company SPX	143.56	21.02	$334.29B	2.97%	23.63%	31.11%	1.67%	2.71%
6	PM Philip Morris International Inc. SPX	177.38	24.98	$276.46B	3.31%	35.35%	-	8.57%	7.84%
7	PEP PepsiCo, Inc. NDXSPX	144.19	22.64	$197.10B	4.11%	15.23%	43.88%	2.83%	-2.57%
8	MO Altria Group, Inc. SPX	69.58	14.53	$116.19B	6.09%	40.85%	-	-0.89%	6.42%
9	MNST Monster Beverage Corporation NDXSPX	88.08	42.55	$86.14B	-	28.33%	26.65%	9.54%	16.94%

Quarterly Results

Figures in USD.

Metric	Sep 2013	Mar 2014	Jun 2014	Sep 2014	Mar 2015	Jun 2015	Sep 2015	Mar 2016	Jun 2016	Sep 2016	Mar 2017	Jun 2017	Sep 2017	Mar 2018	Jun 2018	Sep 2018	Mar 2019	Jun 2019	Sep 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	24.61M	23.15M	22.73M	25.39M	25.01M	26.04M	29.38M	29.16M	29.55M	34.10M	33.49M	38.14M	37.90M	39.23M	40.90M	44.63M	49.16M	-	-	46.09M	53.90M	57.14M	55.36M	63.01M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	35.06M	38.50M	40.73M	40.00M	45.66M
Gross Profit	6.87M	6.67M	7.50M	7.80M	8.38M	7.02M	8.94M	8.70M	9.73M	7.98M	8.46M	9.28M	7.84M	8.04M	6.88M	5.85M	6.30M	5.56M	5.17M	6.00M	6.93M	7.58M	8.05M	7.68M	6.99M	5.58M	5.70M	7.59M	8.23M	11.28M	11.14M	11.54M	13.28M	-	-	11.04M	15.40M	16.41M	15.36M	17.35M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9.46M	9.61M	11.37M	11.60M	11.03M
Operating Income	2.20M	627.20K	1.52M	2.19M	1.41M	49.00K	2.05M	1.61M	3.05M	189.00K	266.00K	1.90M	514.00K	151.00K	333.00K	-599.00K	-401.00K	-66.00K	-255.00K	238.00K	1.44M	2.62M	1.94M	2.49M	1.04M	-1.05M	241.00K	1.20M	1.44M	4.77M	5.04M	3.56M	5.39M	-	-	1.57M	5.79M	5.04M	3.76M	6.33M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5.92M	6.90M	6.16M	4.76M	7.38M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14.00K	21.00K	21.00K	21.00K	68.00K
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	4.97M	5.91M	5.09M	3.72M	6.26M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1.43M	1.66M	1.56M	1.18M	1.58M
Net Income	1.69M	297.18K	669.42K	1.01M	654.00K	98.00K	893.00K	955.00K	2.11M	-64.00K	124.00K	1.04M	243.00K	70.00K	170.00K	-514.00K	-388.00K	-141.00K	-72.00K	146.00K	980.00K	1.83M	1.31M	1.62M	480.00K	-895.00K	120.00K	983.00K	830.00K	3.16M	3.41M	2.43M	3.78M	-	-	3.54M	4.25M	3.53M	2.54M	4.67M
Diluted EPS	-	-	-	-	-	-	0.05	0.06	0.13	0.00	0.01	0.06	0.02	0.00	0.01	-0.03	-0.02	-0.01	0.00	0.01	0.06	0.12	0.08	0.10	0.03	-0.06	0.01	0.06	0.06	0.21	0.23	0.16	0.25	-	-	0.23	0.28	0.23	0.16	0.30

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	-	-	-	103.35M	93.66M	102.03M	-	141.57M	160.12M	186.82M	212.50M
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	114.78M	117.68M	138.25M	154.29M
Gross Profit	20.18M	21.27M	26.62M	27.62M	28.86M	29.88M	35.03M	30.70M	25.86M	22.15M	26.93M	-	26.79M	42.44M	48.57M	58.21M
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	24.44M	25.45M	34.72M	42.03M
Operating Income	6.27M	5.08M	8.84M	8.03M	4.24M	4.40M	6.08M	-526.00K	-3.11M	-1.93M	4.92M	-	2.35M	17.00M	13.85M	16.17M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	5.08M	20.20M	17.46M	23.74M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	267.00K	384.00K	105.00K	77.00K
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	1.84M	16.65M	13.97M	19.69M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	917.00K	5.28M	4.94M	5.83M
Net Income	3.62M	2.86M	5.62M	4.99M	1.96M	1.97M	3.48M	-346.00K	-3.09M	453.00K	3.23M	-	924.00K	11.37M	9.03M	13.86M
Diluted EPS	-	-	-	-	-	0.12	0.22	-0.02	-0.19	0.03	0.21	-	0.06	0.75	0.60	0.89

Compounded Sales Growth

5 Years:	14.50%
1 Year:	36.70%

Compounded Profit Growth

5 Years:	146.62%
1 Year:	30.40%

Stock Price Performance

1 Year:	+5.44%
6 Months:	-1.20%
3 Months:	+7.54%
1 Month:	-11.51%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2009	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	52.06M	51.47M	53.51M	63.67M	63.42M	64.92M	65.21M	64.52M	56.81M	56.99M	61.25M	-	69.00M	81.65M	90.55M	105.61M
Current Assets	-	-	-	-	-	-	-	-	-	-	-	-	-	26.98M	38.20M	43.60M	37.06M
Cash & Equivalents	630.41K	3.23M	1.12M	2.29M	3.31M	3.26M	5.65M	8.81M	4.98M	3.00M	3.84M	7.93M	-	4.44M	13.20M	16.73M	5.57M
Inventory	-	-	-	-	-	-	-	-	-	-	-	-	-	9.63M	9.10M	8.68M	11.89M
Receivables	-	-	-	-	-	-	-	-	-	-	-	-	-	11.41M	13.88M	15.42M	16.64M
Total Liabilities	-	18.41M	16.12M	14.19M	20.72M	18.72M	19.66M	16.85M	17.93M	14.40M	13.74M	14.39M	-	21.43M	21.22M	18.64M	19.79M
Current Liabilities	-	8.89M	7.07M	6.21M	8.88M	8.53M	10.82M	9.38M	13.20M	7.45M	9.52M	8.44M	-	13.04M	16.62M	15.50M	16.64M
Long Term Debt	-	-	5.54M	4.96M	9.00M	8.12M	7.12M	-	-	-	-	0	6.25M	5.25M	1.48M	-	-
Total Debt	-	-	-	-	-	-	-	-	-	-	-	-	-	6.68M	2.92M	117.00K	466.00K
Total Equity	32.57M	33.65M	35.36M	39.31M	42.95M	44.70M	45.26M	48.36M	46.59M	42.41M	43.25M	46.85M	-	47.57M	60.44M	71.91M	85.82M
Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-	-	-	17.27M	17.27M	17.27M	17.27M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	5.62M	4.04M	6.63M	-	-	-	5.10M	3.81M	2.42M	3.81M	6.38M	-	3.99M	16.94M	12.96M	10.95M
Investing Cash Flow	1.41M	-2.11M	-1.56M	-	-	-	-360.00K	-5.32M	-2.72M	838.00K	-1.89M	-	-4.03M	-4.41M	-6.68M	-22.04M
Financing Cash Flow	-4.43M	-4.04M	-3.90M	-	-	-	-1.58M	-2.33M	-1.68M	-3.81M	-405.00K	-	-4.75M	-3.78M	-2.75M	-65.00K
Capital Expenditure	-2.23M	-1.44M	-1.43M	-8.48M	-3.68M	-2.00M	-3.24M	-5.34M	-2.82M	-1.18M	-1.90M	-	-3.45M	-4.35M	-6.70M	-27.36M
Free Cash Flow	3.39M	2.60M	5.20M	-	-	-	1.87M	-1.53M	-407.00K	2.63M	4.49M	-	538.00K	12.59M	6.26M	-16.41M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-	-	-	-4.79M	8.75M	3.53M	-11.16M
Share Buybacks	-	-	-	-	-	1.54M	738.00K	1.49M	1.38M	538.00K	405.00K	1.58M	4.00M	0	-	-
Dividends Paid	-	-	-1.15M	-	-	-	-	-	-	-	-	-	-	-	-	-

Ratios (Annual)

Figures in %.

Metric	Dec 2010	Dec 2011	Dec 2012	Dec 2013	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-	25.0%	23.6%	26.4%	-	18.9%	26.5%	26.0%	27.4%
Operating Margin %	-	-	-	-	-	-	-	-	-3.0%	-2.1%	4.8%	-	1.7%	10.6%	7.4%	7.6%
Net Margin %	-	-	-	-	-	-	-	-	-3.0%	0.5%	3.2%	-	0.7%	7.1%	4.8%	6.5%
ROE %	10.8%	8.1%	14.3%	11.6%	4.4%	4.4%	7.2%	-0.7%	-7.3%	1.0%	6.9%	-	1.9%	18.8%	12.6%	16.1%
ROCE %	14.5%	11.4%	18.7%	14.7%	7.7%	8.1%	10.9%	-1.0%	-6.3%	-4.1%	9.3%	-	4.2%	26.1%	18.5%	18.2%

Shareholding Pattern

Insiders

39.39%

Institutions

42.93%

Public Float

70.82%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Divisadero Street Capital Management, LP	9.22%	1.41M	$33.57M
2	Cresset Asset Management, LLC	3.33%	508.23K	$12.11M
3	Renaissance Technologies, LLC	2.41%	368.67K	$8.79M
4	Blackrock Inc.	1.82%	277.75K	$6.62M
5	Tudor Investment Corp Et Al	1.74%	266.40K	$6.35M
6	Vanguard Capital Management LLC	1.71%	262.06K	$6.24M
7	Dimensional Fund Advisors LP	1.54%	235.71K	$5.62M
8	Gamco Investors, Inc ET AL	1.40%	214.65K	$5.12M
9	Slotnik Capital, LLC	1.03%	157.47K	$3.75M
10	Geode Capital Management, LLC	0.89%	136.15K	$3.24M

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LWAY · Consumer Defensive