Nomad Foods Limited
- Open
- 11.01
- Day high
- 11.39
- Day low
- 11.01
- Prev close
- 10.95
- Volume
- 719K
- Mkt cap
- $1.6B
- P/E (TTM)
- 11.0
- EPS (TTM)
- $1.02
- P/B
- 0.6
- P/S
- 0.5
- Yield
- 6.05%
- Per share
- $0.68
- ▲Insiders net buying $9.2M over the last 3 months (5 open-market buys, 0 sales)
- ◆Cluster buying — multiple insiders bought within days
- 🏛Institutions mixed (13F)
Nomad Foods Limited (NOMD) is a Consumer Defensive company listed on NYSE. The stock is down 37% over the past year. Over the trailing 3 months, insiders filed 5 open-market buys and 0 sales (SEC Form 4).
Nomad Foods Limited (NOMD) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
NOMD earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $0.21 | $0.27 | +28.6% | $826M | +2.8% |
| Feb 26, 2026 | $0.50 | $0.51 | +1.0% | $907M | +16.8% |
| Nov 6, 2025 | $0.47 | $0.57 | +21.2% | $881M | +15.8% |
| Aug 6, 2025 | $0.44 | $0.45 | +2.3% | $879M | +15.4% |
| May 8, 2025 | $0.41 | $0.37 | -9.8% | $833M | +9.2% |
| Mar 3, 2025 | $0.39 | $0.45 | +15.4% | $822M | +6.8% |
| Nov 14, 2024 | $0.51 | $0.55 | +7.8% | $844M | -3.0% |
| May 9, 2024 | $0.41 | $0.40 | -2.4% | $842M | +2.0% |
| Feb 29, 2024 | $0.34 | $0.34 | +0.0% | $837M | +0.4% |
| Nov 9, 2023 | $0.38 | $0.43 | +13.2% | $805M | -4.1% |
| Feb 23, 2023 | $0.37 | $0.34 | -8.1% | $808M | -5.1% |
| Aug 10, 2022 | $0.42 | $0.40 | -4.8% | $729M | +2.0% |
NOMD insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 24, 2026 | PILOWSKY AMITdirector | Grant | 21,656 | — |
| Jun 24, 2026 | PARRY VICTORIAdirector | Grant | 13,972 | — |
| Jun 24, 2026 | STACK MELANIE DAWNdirector | Grant | 21,856 | — |
| Jun 24, 2026 | Dorman Carey J.director | Grant | 22,654 | — |
| Jun 24, 2026 | LILLIE JAMES Edirector | Grant | 13,972 | — |
| May 18, 2026 | BALDEW RUBENdirector, officer: Chief Financial Officer | Buy | 14,731 | $9.71 |
| May 18, 2026 | BRISBY DOMINICdirector, officer: Chief Executive Officer | Buy | 150,000 | $9.79 |
| May 15, 2026 | ASHKEN IAN G Hdirector | Buy | 100,000 | $9.13 |
| May 13, 2026 | Gottesman Noamdirector, other: Co-Chair | Buy | 200,000 | $9.23 |
| May 13, 2026 | Gottesman Noamdirector, other: Co-Chair | Buy | 500,000 | $9.57 |
| May 8, 2026 | BALDEW RUBENdirector, officer: Chief Financial Officer | Grant | 1,850,000 | $10.14 |
| May 8, 2026 | BRISBY DOMINICdirector, officer: Chief Executive Officer | Grant | 5,000,000 | $10.14 |
| May 8, 2026 | FRANKLIN MARTIN Edirector, other: Co-Chair | Grant | 1,000,000 | $10.14 |
| May 8, 2026 | Gottesman Noamdirector, other: Co-Chair | Grant | 1,000,000 | $10.14 |
Source: NOMD SEC Form 4 filings, latest Jun 24, 2026. For informational purposes only — not investment advice.
See the full NOMD insider & 13F page →Nomad Foods Limited company profile
Overview
Nomad Foods Limited (NYSE:NOMD) is a leading European frozen food manufacturer that was established in 2015 through a series of acquisitions orchestrated by private equity. The company went public in January 2015 and has since grown to become Europe's largest frozen food company through strategic acquisitions and organic growth. Headquartered in Feltham, United Kingdom, Nomad Foods operates across multiple European markets including the UK, Germany, Italy, France, and other European countries, manufacturing and distributing frozen food products under well-known brands such as Birds Eye, Iglo, Findus, and Goodfella's.
Business
Nomad Foods operates in the frozen food manufacturing and distribution industry, which is part of the broader packaged foods sector. The company's business revolves around producing, marketing, and distributing frozen food products across Europe through a portfolio of established regional brands. The company's product portfolio spans several key categories. Fish products represent a core segment, including fish fingers (fish sticks), coated fish fillets, and natural fish products. This category leverages brands like Birds Eye and Iglo, which have decades of consumer recognition in European markets. Vegetables constitute another major segment, featuring frozen peas, spinach, and other vegetable varieties that provide convenient, nutritious options for consumers. The poultry and meat products category includes chicken nuggets, grilled items, and burger patties, representing a growing segment for the company. Additionally, Nomad Foods produces prepared meals such as ready-to-cook noodles, pasta dishes, lasagna, and pancakes that cater to consumers seeking convenient meal solutions. The company also manufactures ice cream products and other frozen items including soups, pizzas, bakery goods, and meat substitute products to capture evolving consumer preferences. The company has identified "Must Win Battles" representing approximately 50% of its business, which are its most strategically important product categories where it focuses investment and innovation efforts. Growth platforms, particularly in poultry and potato products, have shown strong momentum with double-digit growth rates in key markets.
Revenue model
Nomad Foods generates revenue primarily through product sales to retailers and foodservice operators across Europe. The company sells its frozen food products directly to major supermarket chains and food retail customers, as well as through distribution partnerships. Revenue is generated when retailers purchase products for resale to end consumers. The company's paying customers are primarily large retail chains, supermarkets, and foodservice distributors rather than individual consumers. These B2B relationships involve negotiated contracts for product placement, pricing, and promotional support. The company must compete for shelf space and favorable positioning within the frozen food sections of retail stores. Nomad Foods' profitability drivers include several key factors. Pricing power allows the company to pass through commodity cost inflation to retailers, though this must be balanced against volume sensitivity as consumers may trade down during economic pressures. The company benefits from economies of scale in manufacturing and procurement, as well as supply chain productivity improvements. Brand strength in established categories like fish fingers provides some pricing premium versus private label alternatives. Margin pressure factors include commodity cost inflation, particularly for fish, chicken, and agricultural inputs, which can significantly impact gross margins. Energy costs for frozen food manufacturing and cold chain distribution represent another variable cost factor. Competitive dynamics with both branded competitors and private label products can limit pricing flexibility. Consumer economic pressures may drive trading down to lower-priced alternatives, affecting both volume and mix. Additionally, retailer consolidation can increase buyer power and pressure margins through demands for better terms and promotional support.
Competitive moat
Nomad Foods possesses a moderate competitive moat built primarily on brand recognition and distribution advantages, though this moat faces ongoing challenges. The company's strongest competitive advantages stem from its portfolio of well-established regional brands like Birds Eye, Iglo, and Findus, which have decades of consumer familiarity and trust in their respective markets. These brands command shelf space and consumer loyalty that would be difficult for new entrants to replicate quickly. The company benefits from scale advantages in manufacturing and procurement as Europe's largest frozen food company, enabling cost efficiencies in production and ingredient sourcing. Its established relationships with major European retailers provide distribution access that creates barriers for smaller competitors. The frozen food supply chain requires specialized cold storage and logistics capabilities, creating some operational barriers to entry. However, the moat faces significant competitive pressures. Private label products from major retailers represent a persistent threat, offering similar frozen food products at lower prices with improving quality. Large multinational food companies like Unilever, Nestlé, and others compete directly in frozen food categories with substantial marketing resources. The frozen food category itself faces competition from fresh and refrigerated alternatives as consumer preferences evolve toward perceived healthier options. The company's moat is also challenged by commodity exposure and limited pricing power during economic downturns when consumers become more price-sensitive. Innovation requirements to maintain relevance add ongoing costs, and the company must continuously invest in marketing and product development to defend market positions. While the moat provides some protection, it is not insurmountable and requires constant reinforcement through brand investment and operational excellence.
Risks & safety
Nomad Foods demonstrates a moderate margin of safety with manageable debt levels but facing some operational challenges. • Liquidity position: Strong cash position of €422 million with current ratio of 1.10, providing adequate short-term liquidity • Debt management: Debt-to-equity ratio of 0.82 is reasonable for the industry; refinanced debt extending maturities to mid-2028/2029 reduces near-term refinancing risk • Cash generation: Strong operating cash flow of €457 million and free cash flow of €372 million in 2024 demonstrates solid cash generation capabilities • Valuation metrics: Trading at P/E of 11.8x and EV/EBITDA of 8.8x, which appears reasonable but not deeply discounted • Operational risks: Recent ERP implementation disruptions and retailer destocking events show vulnerability to operational challenges; organic sales growth has been modest at 1% annually • Dividend sustainability: Quarterly dividend of €0.15 per share appears sustainable given cash generation, though relatively new policy initiated in 2023
Recent development
Over the past few years, Nomad Foods has implemented several strategic initiatives focused on portfolio optimization and operational efficiency. The company has concentrated investments in what it calls "Must Win Battles" - its most strategically important product categories representing approximately 50% of sales, including fish, vegetables, and poultry products. This focus has driven market share gains in key segments. The company has significantly expanded its growth platforms, particularly in poultry products across Germany and Italy, achieving impressive results with retail sales growing 98% year-over-year in Italy and 35% in Germany. Innovation has become a key focus, with the innovation rate increasing from 4.2% to 4.8% and expectations to exceed 5% in 2025. Operational improvements have included supply chain productivity initiatives and organizational simplification efforts. The company has been implementing new ERP systems across its operations, though this has caused some temporary disruptions in the UK and Ireland markets. Marketing investments have increased substantially, with advertising and promotion spending up 30% in some periods as the company launches master brand campaigns to strengthen brand affinity. Financial discipline has been maintained through revenue growth management strategies, focusing on surgical pricing approaches rather than broad-based price increases. The company initiated a quarterly dividend policy in 2023 and has maintained its leverage targets between 2.5x and 3.5x EBITDA while exploring strategic acquisition opportunities for smaller, complementary businesses.
NOMD company profile · for informational purposes only — not investment advice.
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