{
  "url": "https://struct.news/briefs/campbell-sold-5-less-but-its-cash-conversion-got-better",
  "title": "Campbell sold 5% less, but its cash conversion got better",
  "summary": "Inventory rose to $1.6 billion as annual revenue fell to $9.7 billion, while lower capital spending helped cash conversion improve.",
  "published_at": "2026-09-24T11:45:17.698395+00:00",
  "publisher": "Struct",
  "usage": "Figures are as reported by the company. Quote with attribution to the source filing.",
  "company": {
    "name": "The Campbell's Company",
    "ticker": "CPB",
    "cik": "16732",
    "sector": "Consumer Defensive",
    "industry": "Packaged Foods"
  },
  "source_filing": {
    "form": "10-K",
    "filed": "2026-09-24",
    "accession": "0000016732-26-000026",
    "url": "https://www.sec.gov/Archives/edgar/data/16732/000001673226000026/cpb-20260802.htm"
  },
  "comparison_filing": {
    "form": "10-K",
    "filed": "2025-09-18",
    "url": "https://www.sec.gov/Archives/edgar/data/16732/000001673225000112/cpb-20250803.htm"
  },
  "reported_figures": [
    {
      "group": "The filing in three numbers",
      "label": "Revenue",
      "value": 10253000000,
      "display": "$10.3B",
      "unit": "usd",
      "period": "2025-08-03",
      "detail": null,
      "source": {
        "kind": "sec_filing",
        "label": "Filed company results",
        "form": "10-K",
        "accession": "0000016732-26-000026",
        "filing_date": "2026-09-24"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Revenue YoY",
      "value": 6.403071814030725,
      "display": "+6.4%",
      "unit": "percent",
      "period": "2025-08-03",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-K",
        "accession": "0000016732-26-000026",
        "filing_date": "2026-09-24"
      }
    },
    {
      "group": "The filing in three numbers",
      "label": "Operating margin",
      "value": 10.962645079488931,
      "display": "+11.0%",
      "unit": "percent",
      "period": "2025-08-03",
      "detail": null,
      "source": {
        "kind": "jodie_calculation",
        "label": "Calculated from filed company results",
        "form": "10-K",
        "accession": "0000016732-26-000026",
        "filing_date": "2026-09-24"
      }
    }
  ],
  "watch_next": [
    {
      "type": "demand",
      "statement": "Campbell's annual sales fell as unfavorable volume and mix, a lost 53rd week, and divestitures outweighed favorable pricing.",
      "importance": "medium",
      "evidence": "Net sales decreased 5% in 2026 to $9.744 billion primarily due to unfavorable volume/mix, a 2-point impact from the 53 rd week in 2025 and the impact of the divestitures, partially offset by favorable net price realization.",
      "source_date": "2026-09-24"
    },
    {
      "type": "tariffs",
      "statement": "Tariffs were among the disclosed causes of lower gross profit margin in the twelve months ended August 2.",
      "importance": "medium",
      "evidence": "Gross profit margin decreased primarily due to the gross impact of tariffs, cost inflation and other supply chain costs and unfavorable volume/mix, partially offset by supply chain productivity improvements, favorable net price realization and benefits from cost savings initiatives.",
      "source_date": "2026-09-24"
    },
    {
      "type": "working_capital",
      "statement": "Inventory rose while revenue fell, increasing inventory intensity and leaving the next report to show whether that balance changes.",
      "importance": "medium",
      "evidence": "Inventory built faster than revenue: Inventory growth exceeded revenue growth and inventory intensity increased.",
      "source_date": "2026-09-24"
    }
  ],
  "related_tickers": [
    "CPB"
  ],
  "disclaimer": "Descriptive reporting of filed results. Not investment advice, and contains no forecast or recommendation."
}