The strength of Cal-Maine Foods (CALM) is its stability, and stability in all aspects. It starts with the eggs business. Egg is a product that is an integral part of almost any diet in the world. Also, the eggs’ production does not share the same climate risks as agriculture, while offering stable demand throughout the year. However, do not forget that agricultural foods are a significant production cost for the eggs, so the volatility in variable costs should be accounted for. This fact also shows that agriculture and egg production are dependent on each other, at least in one way. (Source: http://www.thepoultrysite.com) Statistics show that the eggs market is experiences virtually no sudden moves and is very stable in terms of growth. Even during the 2008-2009 crisis, when consumption dropped in almost all products, egg consumption remained stable. In fact, the average global consumption per person has changed from 8.1 eggs per month in 2000 to 8.9 eggs per month in 2009. As we have seen, consumption of eggs in developed countries is higher than in the developing ones, so a logical assumption is that the average consumption of eggs should increase in the long-run due improvements in quality of life in the developing economies. The diagram above shows that the US consumption of eggs is also quite stable. The maximum deviation has been around 3% per annum over the period. The last year was very fortunate for the company. The company has beaten many highs in many financial metrics. Cal-Maine Foods has shown above-average growth not only compared to the market in general but also relative to the industry. Its sales for the year totaled almost $1.6B and surpassed the previous year’s record by 9.4%, supported by strong customer demand from three major market sectors – retail, egg products. and exports. The company sold 1.063M shell eggs dozens in fiscal 2015, up 4.9% over the prior year. This is a new annual record for Cal-Maine Foods. The company’s net income for the year amounted to $161.3 million, or $3.35 per basic share and $3.33 per diluted share, the highest annual net income in the company’s history. Moreover, the Cal-Maine Foods’s net margin has more than doubled since 2013 and currently stands at 18% of sales, which is many times higher than the industry’s average. The revenue growth of 12% over the last three years and the net profit growth of 21.6% demonstrate improving business efficiency. In addition, Cal-Maine Foods actively reduced its debt burden in recent years, bringing it down to the current debt-to-equity ratio of just 0.06. Finally, the most important finding is that, despite all the positive information above, Cal-Maine Foods’s P / E ratio stands only at 6.5x last-twelve-months’ EPS. Combined with the dividend yield of 5.8%, the company is a real treasure, unjustly deprived of investors’’ attention.