Daily US Stock Pick: 3-Year ROE > 15%

Cal-Maine Foods (CALM): 5x earnings, zero debt, 28% FCF yield

Cal-Maine Foods (NASDAQ: CALM) is the largest US shell egg producer trading at ~5.2x trailing earnings and $75 per share. Three-year ROE has cleared 15% in every fiscal year including the down-cycle trough. The balance sheet holds $1.15B in net cash with no long-term debt. The bear case: egg prices are normalizing fast and FY2027 EPS could fall below $4. The bull case: even at trough earnings, P/B is 1.34x against a balance sheet where 43% of book is liquid.