Added to YB: 2026-04-24
Pitch date: 2026-02-23
NOMD [bullish]
Nomad Foods Limited
-26.22%
current return
Author Info
No bio for this author
Company Info
Nomad Foods Limited, together with its subsidiaries, manufactures, markets, and distributes a range of frozen food products in the United Kingdom and internationally.
Market Cap
$1.2B
Pitch Price
$12.93
Price Target
N/A
Dividend
7.00%
EV/EBITDA
6.14
P/E
9.08
EV/Sales
1.04
Sector
Food Products
Category
value
Nomad Foods Limited - $NOMD
NOMD: European frozen food leader (Birds Eye, Iglo, Findus) w/ 20% avg mkt share, 46% in top segments. 2025 headwinds (weather, UK weakness, retailer destocking) pressured stock to Oct'22 lows. Trades 6.3x-6.7x adj P/E, 8.8x-9.7x reported vs 16.9x hist avg. 90%+ FCF conversion = 10% real FCF yield, 13-14% adj. Base case: ~15% adj FCF yield '26-'28, distribute ~40% mkt cap via 5.5% div + buybacks. Founders own 15%, prioritize buybacks. Refocusing on innovation (6% of sales vs 4.2%), A&P spend up 14%, ERP rollout, new operationally-focused CEO. Pricing power to recover margins in '26. Risks: private label competition, leverage at 3.4x, execution on turnaround initiatives.
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