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GuruFocus has detected 6 Warning Signs with Cal-Maine Foods Inc $CALM.
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Cal-Maine Foods Inc (NAS:CALM)
Retained Earnings
$841 Mil (As of Feb. 2017)

Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Cal-Maine Foods Inc's retained earnings for the quarter that ended in Feb. 2017 was $841 Mil.

Cal-Maine Foods Inc's quarterly retained earnings declined from Aug. 2016 ($860 Mil) to Nov. 2016 ($837 Mil) but then increased from Nov. 2016 ($837 Mil) to Feb. 2017 ($841 Mil).

Cal-Maine Foods Inc's annual retained earnings increased from May. 2014 ($573 Mil) to May. 2015 ($680 Mil) and increased from May. 2015 ($680 Mil) to May. 2016 ($890 Mil).


Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders’ equity is increased by the same amount.

Of course, if a company loses, it is called retained losses, or accumulated losses.


Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.

For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.

If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.

Of course, many companies with negative retained earnings have indeed lost money in the past.

Retained Earnings: Warren Buffett’s Secret.

One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.

If the company loses more than it has accumulated, retained earnings is negative.

If a company isn’t adding to its retained earnings, it isn’t growing its net worth.

Rate of growth of retained earnings is good indicator whether it’s benefiting from a competitive advantage.

Microsoft is negative because it chose to buyback stock and pay dividends.

The more earnings retained, the faster it grows and increases growth rate for future earnings.

Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Cal-Maine Foods Inc Annual Data

Retained Earnings 148268321366406466499573680890

Cal-Maine Foods Inc Quarterly Data

Retained Earnings 615649680775848891890860837841
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