NASDAQ · Financial Statements

Lifeway Foods, Inc. (LWAY) Financial Statements

$22.46 NASDAQ: LWAY Market Cap $339.30M

Lifeway Foods, Inc. most recently reported annual revenue of $212.0M, net profit of $14.0M. Revenue grew at an average annual rate of 15.8% over the last 5 fiscal years. See the full income statement, balance sheet, and cash flow statement below, plus valuation and return ratios.

Lifeway Foods, Inc.: Revenue rose from $124.0M in 2016 to $212.0M in 2025, a change of +71.0% over 9 years; net profit was positive in 7 of 10 reported years; operating margin moved from 4.9% to 7.6%, a shift of +2.7 percentage points; the most recent year shows net profit of $14.0M.

Income Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Revenue$124.0M$119.0M$103.0M$94.0M$102.0M$119.0M$142.0M$160.0M$187.0M$212.0M
Operating Expenses$118.0M$119.0M$106.0M$96.0M$97.0M$113.0M$139.0M$143.0M$173.0M$196.0M
Operating Profit$6.0M$-1.0M$-3.0M$-2.0M$5.0M$6.0M$2.0M$17.0M$14.0M$16.0M
Operating Margin4.9%-0.4%-3.0%-2.1%4.8%4.9%1.7%10.6%7.4%7.6%
Other Income$0$0$0$3.0M$0$0$-1.0M$0$0$4.0M
Interest$0$0$0$0$0$0$0$0$0$0
Depreciation$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$3.0M$4.0M
Profit Before Tax$6.0M$-1.0M$-3.0M$1.0M$5.0M$6.0M$2.0M$17.0M$14.0M$20.0M
Tax$38.3M$57.0M$6.8M$63.3M$33.1M$41.0M$49.8M$31.7M$35.4M$29.6M
Net Profit$3.0M$0$-3.0M$0$3.0M$3.0M$1.0M$11.0M$9.0M$14.0M
EPS$0.22$-0.02$-0.19$0.03$0.21$0.21$0.06$0.75$0.59$0.89
Dividend Payout0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

Quarterly Results — Last 12 Quarters (USD millions)

8 duplicate period labels in the source data were collapsed.

MetricSep '23Dec '23Mar '24Jun '24Sep '24Dec '24Mar '25Jun '25Sep '25Dec '25Mar '26Jun '26
Revenue$41.0M$42.0M$45.0M$49.0M$46.0M$47.0M$46.0M$54.0M$57.0M$55.0M$63.0M$67.0M
Operating Expenses$36.0M$36.0M$41.0M$44.0M$42.0M$46.0M$45.0M$48.0M$52.0M$52.0M$57.0M$66.0M
Operating Profit$5.0M$6.0M$4.0M$5.0M$4.0M$1.0M$2.0M$6.0M$5.0M$4.0M$6.0M$1.0M
Operating Margin12.3%13.7%8.0%11.0%9.1%1.5%3.4%10.8%8.8%6.8%10.0%0.9%
Interest$0$0$0$0$0$0$0$0$0$0$0$0
Profit Before Tax$5.0M$6.0M$4.0M$5.0M$4.0M$1.0M$5.0M$6.0M$5.0M$4.0M$6.0M$0
Tax$30.8M$30.3M$30.8M$29.4M$31.2M$120.6M$28.7M$28.1M$30.7M$31.6M$25.3M$68.8M
Net Profit$3.0M$4.0M$2.0M$4.0M$3.0M$0$4.0M$4.0M$4.0M$3.0M$5.0M$0
EPS$0.23$0.26$0.16$0.25$0.20$-0.01$0.24$0.28$0.23$0.16$0.30$0.01

Over the 10 years reported for Lifeway Foods, Inc., borrowings decreased from $7.0M in 2016 to $0 in 2025, cash stood at $6.0M in the latest year, shareholders' equity was $7.0M, current assets covered current liabilities 2.18 times.

Balance Sheet — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Total Assets$66.0M$65.0M$57.0M$59.0M$62.0M$72.0M$69.0M$83.0M$91.0M$106.0M
Current Assets$28.0M$25.0M$19.0M$19.0M$24.0M$29.0M$27.0M$38.0M$44.0M$37.0M
Cash$9.0M$5.0M$3.0M$4.0M$8.0M$9.0M$4.0M$13.0M$17.0M$6.0M
Inventory$8.0M$8.0M$6.0M$6.0M$7.0M$8.0M$10.0M$9.0M$9.0M$12.0M
Receivables$10.0M$11.0M$9.0M$7.0M$8.0M$10.0M$11.0M$14.0M$16.0M$17.0M
Fixed Assets$22.0M$25.0M$25.0M$23.0M$21.0M$20.0M$21.0M$23.0M$27.0M$49.0M
Capital Work in Progress$0$0$0$0$0$0$0$0$0$0
Investments$-1.0M$-1.0M$0$0$0$0$2.0M$7.0M$2.0M$0
Other Assets$10.0M$10.0M$9.0M$9.0M$10.0M$12.0M$12.0M$12.0M$12.0M$12.0M
Total Liabilities$18.0M$18.0M$14.0M$15.0M$15.0M$22.0M$21.0M$22.0M$19.0M$20.0M
Current Liabilities$9.0M$13.0M$7.0M$10.0M$8.0M$12.0M$13.0M$17.0M$16.0M$17.0M
Borrowings$7.0M$6.0M$6.0M$4.0M$3.0M$7.0M$7.0M$3.0M$0$0
Other Liabilities$10.0M$12.0M$8.0M$12.0M$12.0M$15.0M$15.0M$19.0M$19.0M$19.0M
Equity$7.0M$7.0M$7.0M$7.0M$7.0M$7.0M$7.0M$7.0M$7.0M$7.0M
Reserves$48.0M$47.0M$42.0M$43.0M$47.0M$49.0M$48.0M$60.0M$72.0M$86.0M

For Lifeway Foods, Inc., operating cash flow was positive in 10 of 10 reported years; free cash flow in the latest year was negative at $16.0M; free cash flow was positive in 7 of 10 years.

Cash Flow Statement — 10 Years (USD millions)

Metric2016201720182019202020212022202320242025
Operating Cash Flow$5.0M$4.0M$2.0M$4.0M$6.0M$6.0M$4.0M$17.0M$13.0M$11.0M
Investing Cash Flow$-4.0M$-11.0M$-5.0M$0$-4.0M$-9.0M$-7.0M$-9.0M$-13.0M$-49.0M
Financing Cash Flow$-1.0M$-1.0M$-1.0M$-1.0M$0$-2.0M$-4.0M$0$0$0
Net Cash Flow$3.0M$-4.0M$-2.0M$1.0M$4.0M$1.0M$-5.0M$9.0M$4.0M$-11.0M
Free Cash Flow$2.0M$-2.0M$0$3.0M$4.0M$4.0M$1.0M$13.0M$6.0M$-16.0M

Valuation & Return Ratios

MetricValue
PEG Ratio20.96
EV / EBITDA17.08
FCF Yield-9.61%
Quick Ratio1.47
Interest Coverage83.22
Return 1Y15.68%
Return 3Y411.47%
Return 5Y478.35%

Lifeway Foods, Inc. (LWAY) financials — frequently asked questions

What is Lifeway Foods, Inc.'s annual revenue?

Lifeway Foods, Inc. (LWAY) reported annual revenue of $212.0M in its most recent fiscal year.

What is Lifeway Foods, Inc.'s net profit?

Lifeway Foods, Inc. (LWAY) reported net profit of $14.0M in its most recent fiscal year.

What is LWAY EV/EBITDA?

Lifeway Foods, Inc.'s enterprise value to EBITDA (EV/EBITDA) ratio is 17.08.

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