Lifeway Foods, Inc. (LWAY) Financial Statements
Industry: Dairy Products
In fiscal 2025, Lifeway Foods reported revenue of $212.5M, up 13.7% from $186.8M the year before. Net income was $13.9M (a 6.5% net margin), or $0.89 per diluted share. Gross margin was 27.4% and operating margin was 7.6%. Operating activities generated $10.9M of cash, leaving -$16.4M of free cash flow. At fiscal year end, Lifeway Foods held $105.6M in total assets against $19.8M in total liabilities, including $5.6M of cash and equivalents.
Open the full interactive Lifeway Foods financials → Quarterly statements, key ratios, valuation history and price charts.
Lifeway Foods Key Stats
| Share Price | $22.60 |
|---|---|
| Market Cap | $345.5M |
| P/E Ratio | 25.4 |
| Revenue YoY Growth | +13.7% |
| 52-Week Range | $17.80 – $32.33 |
| Shares Outstanding | 15.2 million (basic, 2026 Q2) |
Lifeway Foods Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $102.0M | $119.1M | $141.6M | $160.1M | $186.8M | $212.5M |
| Cost of Goods Sold | $72.0M | $90.4M | $114.8M | $117.7M | $138.2M | $154.3M |
| Gross Profit | $26.9M | $28.7M | $26.8M | $42.4M | $48.6M | $58.2M |
| Operating Income | $4.9M | $5.9M | $2.3M | $17.0M | $13.9M | $16.2M |
| Pre-Tax Income | $4.8M | $5.6M | $1.8M | $16.6M | $14.0M | $19.7M |
| Income Tax | $1.6M | $2.3M | $917,000 | $5.3M | $4.9M | $5.8M |
| Net Income | $3.2M | $3.3M | $924,000 | $11.4M | $9.0M | $13.9M |
| Diluted EPS | $0.21 | $0.21 | $0.06 | $0.75 | $0.60 | $0.89 |
Lifeway Foods Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $57.1M | $55.4M | $63.0M | $66.9M |
| Net Income | $3.5M | $2.5M | $4.7M | $127,000 |
| Diluted EPS | $0.23 | $0.16 | $0.30 | $0.01 |
Lifeway Foods Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $7.9M | $9.2M | $4.4M | $13.2M | $16.7M | $5.6M |
| Current Assets | $24.1M | $29.0M | $27.0M | $38.2M | $43.6M | $37.1M |
| Total Assets | $60.1M | $70.9M | $69.0M | $81.7M | $90.5M | $105.6M |
| Current Liabilities | $8.4M | $12.1M | $13.0M | $16.6M | $15.5M | $16.6M |
| Total Long-Term Debt | $2.8M | $4.5M | $3.7M | $2.8M | — | — |
| Total Liabilities | $13.2M | $21.7M | $21.4M | $21.2M | $18.6M | $19.8M |
| Shareholders' Equity | $46.9M | $49.1M | $47.6M | $60.4M | $71.9M | $85.8M |
Lifeway Foods Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $6.4M | $5.6M | $4.0M | $16.9M | $13.0M | $10.9M |
| Cash From Investing | -$1.9M | -$7.1M | -$4.0M | -$4.4M | -$6.7M | -$22.0M |
| Cash From Financing | -$405,000 | $2.9M | -$4.7M | -$3.8M | -$2.8M | -$65,000 |
| Free Cash Flow | $4.5M | $3.6M | $538,000 | $12.6M | $6.3M | -$16.4M |
Figures from Lifeway Foods' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Lifeway Foods financials page for every line item.
Lifeway Foods Company Profile
| Ticker | LWAY |
|---|---|
| Exchange | Nasdaq |
| Industry | Dairy Products |
| Headquarters | Morton Grove, Illinois |
| Incorporated in | Illinois |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0000814586 |
Frequently Asked Questions
What was Lifeway Foods' revenue in fiscal 2025?
Lifeway Foods (LWAY) reported revenue of $212.5M for fiscal 2025.
What is Lifeway Foods' annual revenue history?
Lifeway Foods' annual revenue by fiscal year: 2020: $102.0M; 2021: $119.1M; 2022: $141.6M; 2023: $160.1M; 2024: $186.8M; 2025: $212.5M.
What was Lifeway Foods' net income in fiscal 2025?
Lifeway Foods reported net income of $13.9M for fiscal 2025.
What was Lifeway Foods' earnings per share (EPS) in fiscal 2025?
Lifeway Foods' diluted EPS was $0.89 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Lifeway Foods generate in fiscal 2025?
Lifeway Foods generated -$16.4M of free cash flow in fiscal 2025.
What was Lifeway Foods' revenue last quarter?
In its most recent reported quarter (2026 Q2), Lifeway Foods reported revenue of $66.9M.
How many shares of Lifeway Foods are outstanding?
Lifeway Foods reported a weighted average of 15.2 million basic shares outstanding in 2026 Q2.
What is Lifeway Foods' market cap?
Based on its latest closing price, Lifeway Foods (LWAY) has a market capitalization of about $345.5M.
When does Lifeway Foods' fiscal year end?
Lifeway Foods' fiscal year end, as registered with the SEC, is December 31.
Where is Lifeway Foods headquartered?
Lifeway Foods lists its business address in Morton Grove, Illinois in its SEC filings.