At a glance
Simply Good Foods Co is worth $941.6M. Revenue fell 6.5% to $1.36B in fiscal 2026, at a loss; over 5 years it has grown 6.2% a year. It pays no dividend; it spent $340.5M buying back its shares over FY2022–FY2026. The stock returned −45.2% over the past year with dividends reinvested and −23.0% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 40.1% in the 2020 crash (S&P 500: 33.7%) and 34.0% in the 2022 bear market (S&P 500: 24.5%).
The business in plain English
Simply Good Foods sells protein bars, ready-to-drink protein shakes, protein chips and other snacks, sweets and protein powders under three brands. Quest is aimed at people who want more protein and less sugar. Atkins is aimed at low-carb dieters and people managing their weight or blood sugar. OWYN sells plant-based shakes and powders that are tested for the top nine allergens. The company also markets to people taking weight-loss drugs such as GLP-1s.
It earns money by selling to retailers, mainly in North America. In fiscal 2026 (the year ended August 29, 2026), about 77% of Quest's U.S. gross sales went through mass retailers, grocery stores and convenience stores. The figure was 78% for Atkins and 72% for OWYN. E-commerce made up about 22% to 25% of each brand's gross sales. The company sees club stores as a place to grow.
The business is “asset-light”: it keeps marketing, sales and product development in-house and pays contract manufacturers and distributors to make and ship its products. The company was formed in 2017 to acquire Atkins. It added Quest in 2019 and OWYN in 2024. Revenue rose from $1.01 billion in fiscal 2021 to $1.45 billion in fiscal 2025. It then fell 6.5% to $1.36 billion in fiscal 2026, and the company posted a net loss of $155.9 million.
Price history
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SMPL -45.2% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q4 FY2026 (ended Aug 29, 2026), revenue was $333.3M, down 9.7% from a year earlier, and net income was $30.5M.
- For fiscal 2026, revenue was $1.36B (-6.5% year over year; +6.2% a year from FY2021 to FY2026) with a -11.5% net margin.
Financial health check
| Revenue growth a year (FY2021–FY2026) | +6.2% good |
|---|---|
| Operating margin | -13.2% weak |
| Free cash flow margin | 11.6% good |
| Return on equity (FY2026) | -10.7% weak |
| Return on assets (FY2026) | -7.7% weak |
| Net cash (cash minus debt) | $-208.8M weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2021 | $1.01B | $40.9M | $126.2M |
| FY2022 | $1.17B | $108.6M | $105.4M |
| FY2023 | $1.24B | $133.6M | $159.5M |
| FY2024 | $1.33B | $139.3M | $210.0M |
| FY2025 | $1.45B | $103.6M | $157.9M |
| FY2026 | $1.36B | $-155.9M | $156.9M |
Valuation snapshot
| Market value | $941.6M |
|---|---|
| P/E ratio | — |
| Dividend yield | None |
Rank among 1514 US companies
Market value at each year end
Simply Good Foods’s market value went from $1.01B at the end of 2017 to $941.6M on Oct 28, 2026, down 6%; since the end of 2025 it is down 53%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $941.6M | -53.0% |
| 2025 | $2.01B | -49.1% |
| 2024 | $3.94B | -0.4% |
| 2023 | $3.95B | +4.5% |
| 2022 | $3.78B | -5.0% |
| 2021 | $3.98B | +32.8% |
| 2020 | $3.00B | +10.3% |
| 2019 | $2.72B | +75.7% |
| 2018 | $1.55B | +53.8% |
| 2017 | $1.01B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| SMPL price data to Oct 28, 2026 | -46.0% | -45.2% | -33.2% | -23.0% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -46.0% |
| 2025 | -48.5% |
| 2024 | -1.6% |
| 2023 | +4.1% |
| 2022 | -8.5% |
| 2021 | +32.6% |
| 2020 | +9.9% |
| 2019 | +51.0% |
| 2018 | +32.5% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40% over that stretch · deepest drop along the way 40.1%, back to its old high 4.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 20.7% over that stretch · deepest drop along the way 34%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 3 open-market purchases ($1.2M) and 0 sales ($0.00).
| Date | Insider | Type | Value |
|---|---|---|---|
| Apr 23, 2026 | James M Kilts Director | buy | $991K |
| May 14, 2026 | Clayton C Jr Daley Director | buy | $118K |
| Nov 17, 2025 | Michael L Clawson Chief Commercial Officer | buy | $100K |
Who owns it
Large shareholders (13G filings)
| Vanguard Portfolio Management | 6.07% | Mar 31, 2026 |
| T. Rowe Price Investment Management, Inc. | 4.5% | Jun 30, 2025 |
| FMR LLC | 3% | Mar 31, 2026 |
| Wellington Management Group LLP | 1.9% | Sep 30, 2025 |
ETFs with the most weight in SMPL
| PSCC Invesco S&P SmallCap Consumer Staples ETF | 8.36% |
| CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF | 1.66% |
| SMCO Hilton Small-MidCap Opportunity ETF | 1.27% |
| SIXS ETC 6 Meridian Small Cap Equity ETF | 1.21% |
| XSLV Invesco S&P SmallCap Low Volatility ETF | 0.79% |
| QSML WisdomTree U.S. SmallCap Quality Growth Fund | 0.55% |
| ANEW ProShares MSCI Transformational Changes ETF | 0.54% |
| JSML Janus Henderson Small Cap Growth Alpha ETF | 0.47% |
What could go wrong
- Weight-loss drugs could change snacking habits. People taking weight-loss medications such as GLP-1 drugs may decide they no longer need low-carb, high-protein snacks. Worries about sweeteners, seed oils or PFAS “forever chemicals” could also hurt demand.
- Reliance on a few big retailers. A small number of retailers provide a large share of net sales. Contracts are “at-will,” so retailers don't have to purchase any minimum amount. Losing one could materially hurt the business.
- Outsourced production relies on few partners. The company does not make its own products. It relies on a small number of contract manufacturers and suppliers for core ingredients and packaging, so a shortage or disruption could interrupt sales.
- Rising costs and tariffs may squeeze margins. Ingredient, packaging and tariff costs can rise sharply. If prices can't rise enough to cover them, margins shrink. Gross margin, the share of sales left after product costs, was 32.6% in fiscal 2026.
- Crowded aisles and limited shelf space. Nutritional snacking is intensely competitive, with multinational, regional and local rivals. Growth depends on winning and keeping shelf space in physical stores and on launching new products that consumers want.
- Acquisitions, write-downs and debt. The company grows partly by acquiring brands, such as OWYN in June 2024. Deals may disappoint and force write-downs. Debt was $347 million against $138 million of cash and investments as of August 29, 2026.
Recent events
- Quarterly results released
- Quarterly results released
- Executive or board change
- Quarterly results released
- Executive or board change; Shareholder vote results
- Executive or board change; Investor presentation or announcement
- Quarterly results released
- Major agreement signed; New debt or financial obligation
For income and retirement investors
Simply Good Foods pays no dividend. Its 10-K annual report says it does not expect to declare one in the foreseeable future. That means income investors get no regular cash from the stock, and any return depends on the share price. The company buys back shares instead, which gives each remaining share a larger slice of the business. Buybacks totaled $340.5 million over fiscal 2022 to 2026, including $213.3 million in fiscal 2026. The share count fell 9.6% from January 2022 to about 86.9 million as of October 22, 2026.
The share price has swung hard in downturns. It fell 40.1% in the 2020 COVID crash but recovered in about 4.4 months. In the 2022 bear market it dropped 34% and had not regained its prior high as of October 28, 2026, when it was down 45.2% over one year. Single stocks carry more risk than diversified funds.
Questions investors ask
Does Simply Good Foods pay a dividend?
No. Simply Good Foods paid no dividends from fiscal 2022 through fiscal 2026, and its 10-K says it does not expect to declare any in the foreseeable future. It returns cash through share buybacks instead: $340.5 million over those five years, including $213.3 million in the year ended August 29, 2026. Buybacks can raise each remaining share's claim on profits, but they pay no cash to shareholders who keep their stock.
How does Simply Good Foods make money?
It sells protein bars, ready-to-drink protein shakes, protein chips, sweets and protein powders under the Quest, Atkins and OWYN brands, mainly to retailers in North America. In fiscal 2026, about 72% to 78% of each brand's U.S. gross sales went through mass retailers, grocery stores and convenience stores, and about 22% to 25% through e-commerce. Contract manufacturers make the products. Revenue was $1.36 billion for the year ended August 29, 2026, down 6.5%.
How far has Simply Good Foods stock fallen?
Sharply. As of October 28, 2026, the shares were down 45.2% over one year and about 73% over five years. They lost 48.5% in calendar 2025 and a further 46% in 2026 through October 28. Results also weakened. Fiscal 2026 revenue fell 6.5% to $1.36 billion, and the company went from a $103.6 million profit in fiscal 2025 to a $155.9 million net loss.
Are GLP-1 weight-loss drugs a threat to Simply Good Foods?
They could be, and the company says so. Its 10-K warns that people using weight-management medications such as GLP-1 drugs may no longer see low-carb, high-protein products as needed to reach their goals. The company is also marketing Quest, Atkins and OWYN to people on these drugs as a complement that it says can help them reach or keep their target weight. It is unclear which effect will prove stronger.
How much debt does Simply Good Foods have?
About $347.2 million as of August 29, 2026, against $138.4 million of cash and investments. That leaves net debt (debt minus cash) of roughly $208.8 million. Shareholders' equity was $1.45 billion. Despite its net loss, the company generated $156.9 million of free cash flow in fiscal 2026. Free cash flow is the cash left after running and investing in the business. The 10-K notes that its credit agreements carry financial covenants, or lender rules, and that changes in interest rates could hurt earnings.