Pilgrim's Pride vs Tyson Foods: Revenue, Profit and Business Model
Pilgrim's Pride reported $18.5B of revenue in FY2025 and $1.1B of net income. Tyson Foods reported $54.4B of revenue in FY2025 and $474M of net income.
Latest financial snapshot
Pilgrim's Pride
- Latest revenue
- $18.5B (FY2025)
- Net income
- $1.1B
- Net margin
- 5.9%
- Revenue growth
- +7.2% a year, FY2016–FY2025
Tyson Foods
- Latest revenue
- $54.4B (FY2025)
- Net income
- $474M
- Net margin
- 0.9%
- Revenue growth
- +4.4% a year, FY2016–FY2025
Financial summary
Pilgrim's Pride
Revenue grew from $9.88 billion in 2016 to $18.50 billion in 2025, but profits are far more volatile than sales. Net income dropped to $31 million in 2021, a year that included antitrust-related charges, then reached $1.09 billion in 2024 and $1.08 billion in 2025. In the first half of 2026 net sales were $9.16 billion, about flat, but adjusted EBITDA fell 45% to $668 million as U.S. commodity chicken prices declined. Net leverage was 1.43x adjusted EBITDA at the end of Q2 2026, below the company's 2x-3x target.
Tyson Foods
Fiscal 2025 (ended September 27, 2025) sales rose 2.1% to $54.441 billion, or 3.3% excluding a $653 million increase in legal contingency accruals recorded as a reduction to sales. GAAP operating income fell 22% to $1.098 billion, while adjusted operating income rose 26% to $2.287 billion; GAAP EPS was $1.33 and adjusted EPS $4.12. Tyson reduced total debt by $957 million and ended the year with $3.7 billion of liquidity. In the first nine months of fiscal 2026, sales were $41.834 billion (up 3.1%), GAAP operating income $1.099 billion (up 17%), adjusted operating income $1.616 billion (down 4%) and free cash flow $913 million. Third-quarter sales were flat at $13.87 billion as 3.4% higher pricing offset a 2.8% volume decline tied to constrained cattle supply.
Revenue and profit by year
Pilgrim's Pride
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $18.5B | $1.1B | 5.9% | +3.5% | Source |
| FY2024 | $17.9B | $1.1B | 6.1% | +3.0% | Source |
| FY2023 | $17.4B | $321.6M | 1.9% | -0.6% | Source |
| FY2022 | $17.5B | $745.9M | 4.3% | +18.2% | Source |
| FY2021 | $14.8B | $31M | 0.2% | +22.2% | Source |
| FY2020 | $12.1B | $94.8M | 0.8% | +6.0% | Source |
| FY2019 | $11.4B | $455.9M | 4.0% | +4.3% | Source |
| FY2018 | $10.9B | $247.9M | 2.3% | +1.6% | Source |
| FY2017 | $10.8B | $694.6M | 6.5% | +9.0% | Source |
| FY2016 | $9.9B | $440.5M | 4.5% | — | Source |
Tyson Foods
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $54.4B | $474M | 0.9% | +2.1% | Source |
| FY2024 | $53.3B | $800M | 1.5% | +0.8% | Source |
| FY2023 | $52.9B | -$648M | -1.2% | -0.8% | Source |
| FY2022 | $53.3B | $3.2B | 6.1% | +13.2% | Source |
| FY2021 | $47B | $3B | 6.5% | +8.9% | Source |
| FY2020 | $43.2B | $2.1B | 4.8% | +1.8% | Source |
| FY2019 | $42.4B | $2B | 4.7% | +5.9% | Source |
| FY2018 | $40.1B | $3B | 7.4% | +4.7% | Source |
| FY2017 | $38.3B | $1.8B | 4.6% | +3.7% | Source |
| FY2016 | $36.9B | $1.8B | 4.8% | — | Source |
Where the revenue comes from
Pilgrim's Pride
- Fresh poultry
Fresh chicken products sold through retail and foodservice channels.
- Prepared and value-added products
Cooked, frozen, and customized poultry products.
- Europe and Mexico operations
Regional protein operations serving grocery and foodservice customers.
- Exports
Protein sales into international markets.
Tyson Foods
- Beef
Largest segment
Processes fed cattle into boxed beef and byproducts; profit depends on the spread between cattle costs and beef prices.
- Chicken
Second-largest segment
Vertically integrated chicken sold to retail and foodservice; the main profit driver in fiscal 2025-2026.
- Prepared Foods
Branded segment
Branded breakfast, deli, hot dog and snacking products with steadier margins than fresh meat.
- Pork
Smaller segment
Hog processing for retail, export and internal prepared-foods use.
Business model and strategy
Pilgrim's Pride
How it makes money
Pilgrim's Pride makes money by raising, processing and selling chicken and, in Europe, pork and prepared meals. It owns breeder flocks, hatcheries, feed mills and processing plants, and pays independent contract growers to raise birds in grower-owned houses.
Growth strategy
Pilgrim's growth plan centres on value-added and branded products and on capacity tied to large customers. Projects in 2026 include a new prepared foods plant in Walker County, Georgia, added deboning capacity in Ellijay, Georgia for the small-bird segment, and a live-operations ramp-up in Mexico's Southern Peninsula. In Europe it is pushing branded meals and snacks such as Rollover and Fridge Raiders.
Competitive advantage
Pilgrim's advantage is scale combined with portfolio spread. In the U.S. it runs small-bird, case-ready and big-bird plants, so it can serve quick-service restaurants, supermarkets and further processors at once. Its European and Mexican segments add geographic diversification, and the Just Bare brand gives it a growing retail franchise;
Tyson Foods
How it makes money
Tyson makes money by buying or raising animals, processing them into fresh and value-added products, and selling them to retailers, restaurant chains, foodservice distributors and export buyers. In chicken it is vertically integrated: it owns breeder flocks, hatcheries and feed mills and pays contract farmers to raise birds.
Growth strategy
Tyson's plan centers on chicken execution (better yields and value-added mix), prepared-foods brand growth, managing beef through the cattle cycle, plant network consolidation, automation, cost control and debt reduction.
Competitive advantage
Tyson's advantage comes from scale, vertical integration in chicken, branded foods, plant network, foodservice relationships, cold-chain logistics, and procurement reach.
Questions about Pilgrim's Pride vs Tyson Foods
Which company has higher revenue — Pilgrim's Pride Corporation or Tyson Foods, Inc.?
Pilgrim's Pride Corporation reported $18.5B (FY2025), while Tyson Foods, Inc. reported $54.4B (FY2025). By last reported revenue, Tyson Foods, Inc. is the larger business, with Pilgrim's Pride Corporation reporting a smaller revenue base.
What is the market cap of Pilgrim's Pride Corporation vs Tyson Foods, Inc.?
Pilgrim's Pride Corporation's market capitalisation stands at $7.2B, while Tyson Foods, Inc.'s is $18.4B. Tyson Foods, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to Pilgrim's Pride Corporation.
Which is more financially efficient — Pilgrim's Pride Corporation or Tyson Foods, Inc.?
Pilgrim's Pride Corporation generates $294k / employee in revenue per employee, while Tyson Foods, Inc. generates $409k / employee. Tyson Foods, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do Pilgrim's Pride Corporation and Tyson Foods, Inc. make money?
Pilgrim's Pride Corporation and Tyson Foods, Inc. generate revenue in fundamentally different ways. Pilgrim's Pride Corporation: Pilgrim's Pride makes money by raising, processing and selling chicken and, in Europe, pork and prepared meals. Tyson Foods, Inc.: Tyson makes money by buying or raising animals, processing them into fresh and value-added products, and selling them to retailers, restaurant chains, foodservice distributors and export buyers.
Which company is valued higher relative to revenue — Pilgrim's Pride Corporation or Tyson Foods, Inc.?
On a price-to-sales (P/S) basis, Pilgrim's Pride Corporation trades at 0.4x P/S and Tyson Foods, Inc. at 0.3x P/S. Pilgrim's Pride Corporation commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Tyson Foods, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is Pilgrim's Pride Corporation bigger than Tyson Foods, Inc.?
By last reported revenue, Tyson Foods, Inc. ($54.4B (FY2025)) is the larger company compared to Pilgrim's Pride Corporation ($18.5B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Pilgrim's Pride vs Tyson Foods overview