# Campbell's $9,519 million of goodwill and intangibles is 2.5 times equity

![Campbell's $9,519 million of goodwill and intangibles is 2.5 times equity](https://aiswingx.com/static/covers/cpb-fy2026_cover.jpg?v=1790551503)

**Fiscal 2026 10-K: purchased brands and acquisition premium together stand at two and a half times shareholders' equity, and the company wrote trademarks down in each of the last two years**

The Campbell's Company (CPB) ended fiscal 2026 with goodwill of $5,321 million and intangible assets other than goodwill of $4,198 million. Together that is $9,519 million. Total equity on the same date was $3,850 million, making those intangible assets 247.2% of equity and 60.8% of total assets of $15,648 million.

- 종목: CPB (The Campbell's Company)
- 분기: FY2026 · 10-K
- 작성: 2026-09-27 23:25 UTC · 업데이트: 2026-09-28 12:17 UTC
- 원문: https://aiswingx.com/p/cpb-fy2026

## 숫자 하나
Goodwill of $5,321 million plus intangibles of $4,198 million equals $9,519 million, or 247.2% of total equity of $3,850 million and 60.8% of total assets of $15,648 million. Fiscal 2026 net income was $403 million and dividends paid were $470 million. Trademark impairments occurred in each of the last two years.

## 비유 하나
(구독자 전용)

## 출처 하나
The Campbell's Company Form 10-K (fiscal 2026, filed 2026-09-24, accession 0000016732-26-000026): consolidated statements of earnings, consolidated balance sheets, consolidated statements of cash flows, Note 3 on acquisitions, Note 4 on divestitures, the intangible assets note, and the Summary of Results, Other Expenses / (Income) and Corporate expense discussions in MD&A. Annual figures cross-checked against SEC XBRL Company Facts.

## 다음 분기에 볼 것
(구독자 전용)

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## What happened

The Campbell's Company (CPB) makes soups, sauces and snacks in the United States. Its fiscal 2026 year ended on August 2, 2026, and the 10-K was filed on September 24, 2026.

Four lines from the balance sheet.

| Item | August 2, 2026 |
|---|---|
| Goodwill | $5,321 million |
| Intangible assets other than goodwill | $4,198 million |
| **Sum of the two** | **$9,519 million** |
| Total equity | $3,850 million |
| **Intangibles / total equity** | **247.2%** |
| Intangibles / total assets | 60.8% |

**60.8%** of total assets of $15,648 million has no physical form. That is more than plants, inventory and receivables combined.

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## FAQ

**Q. How is the 2.5 times figure calculated?**

It divides goodwill plus intangibles other than goodwill by total equity. All three figures appear on this 10-K's balance sheet and are set out in the free table above.

**Q. Which trademarks were impaired?**

The company states the amount and the brands for each of fiscal 2026 and 2025. Both years' figures and the brand names are in the subscriber section.

**Q. Did the length of the fiscal year affect the sales decline?**

The company wrote that part of the 5% decline came from the extra week in the prior year. The size of that effect is in the subscriber section.

**Q. What did the company acquire this year?**

It acquired 49% of the company that produces all of its Rao's sauces. The total consideration, the two-tranche structure and the timing of the remaining payment are in the subscriber section.

**Q. Where can I verify this directly?**

Open The Campbell's Company's fiscal 2026 Form 10-K (accession 0000016732-26-000026) on SEC EDGAR and read the balance sheet, Note 3 on acquisitions, the intangible assets note, and the Other Expenses / (Income) and Corporate expense discussions in MD&A.