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J.M. Smucker

SJM NYSE Packaged Foods & Meats Financials FY2017–FY2026

J.M. Smucker's revenue rose 3.7% to $9.1 billion in fiscal 2026. Its operating margin was 4.0%, up from −7.7% a year earlier. Free cash flow was $1.2 billion, up 41.6%. It paid out $470 million in dividends and buybacks, 41% of free cash flow.

Last close · Oct 23, 2026

$129.98

2.6%
Value it Compare
Revenue Total sales reported in the income statement.
$9.1B
3.7% vs prior year
Operating margin Operating income as a share of revenue.
4.0%
11.7 pts
Net income Profit after all expenses, interest and tax.
−$139M
Free cash flow Cash from operations minus capital spending.
$1.2B
41.6%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
2.2%
5.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
—
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
60.7x
On $2.14 EPS (TTM)

About these figures. Smucker's filings stopped tagging its average share count after fiscal 2022, so share counts and the measures built on them are blank from fiscal 2023.

What J.M. Smucker does

J.M. Smucker, founded in 1897, makes and sells branded food and beverages, mostly in the United States. Operations outside the U.S. are mainly in Canada, and net sales outside the U.S. were 4 percent of the total in fiscal 2026. Its main products are coffee, frozen handheld foods, sweet baked goods, pet snacks, peanut butter, cat food, fruit spreads, toppings and syrups, and baking mixes.

It has five reportable segments. Three are U.S. Retail segments: Coffee, Frozen Handheld and Spreads, and Pet Foods. These sell mainly through direct sales and brokers to food retailers, club stores, discount stores, online sellers, pet stores, drug stores and mass merchandisers. The other two are Sweet Baked Snacks, sold in many retail channels, and Away From Home, which sells through foodservice distributors and operators such as restaurants, schools and healthcare facilities.

It has reshaped its mix in recent years. It bought Hostess Brands in November 2023, and it has sold several smaller businesses, including Voortman in December 2024 and some sweet baked snacks value brands in March 2025.

Legal name
J M SMUCKER Co
Fiscal year ends
April 30, 2026
Latest annual report
10-K · Jun 9, 2026
Accession · CIK
0000091419-26-000050
0000091419

Revenue and margins

J.M. Smucker had $9.1B of revenue in fiscal 2026, up 3.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.2B in fiscal 2026, 12.8% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

J.M. Smucker returned $470M to shareholders in fiscal 2026, 41% of free cash flow. The diluted share count rose 0.0%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value J.M. Smucker yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$6.9B and divides by 0.0M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 60.7x · peers 15.3x · sector 24.2x.

Balance sheet

Cash, debt and the ratios that show how comfortably J.M. Smucker can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $170M$656M$62.0M$69.9M$58.6M
Debt incl. finance leases $4.5B$4.3B$8.4B$7.7B$7.0B
Net debt / EBITDA 2.9x6.2x4.8x—7.5x
Debt / equity 0.6x0.6x1.1x1.3x1.3x
Interest coverage 6.6x1.0x7.7x−1.6x0.9x
Current ratio 1.0x1.4x0.5x0.8x0.8x
Quick ratio 0.5x0.9x0.3x0.4x0.3x
Total assets $16.1B$15.0B$20.3B$17.6B$16.2B
Total liabilities $7.9B$7.7B$12.6B$11.5B$10.7B
Shareholders' equity $8.1B$7.3B$7.7B$6.1B$5.5B
Net debt (− = net cash) $4.3B$3.7B$8.3B$7.6B$6.9B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.1M

1 insider

Sold, 12 months

$17.6M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 31, 2026 Mark T SmuckerCEO, Chair of Board, Director Sold 84,821 $131.39 $11.1M Form 4
Aug 31, 2026 Robert D FergusonChief Product Supply Officer Sold 2,522 $132.41 $0.3M Form 4
Aug 28, 2026 Tucker H MarshallChief Financial Officer Sold 18,482 $132.05 $2.4M Form 4
Jun 29, 2026 Jill R PenroseChief People Officer Sold 5,000 $116.70 $0.6M Form 4
Jun 26, 2026 Jeannette L KnudsenChief Legal Officer Sold 4,353 $115.08 $0.5M Form 4
Jun 24, 2026 Tucker H MarshallChief Financial Officer Sold 3,630 $111.05 $0.4M Form 4
Jun 17, 2026 Mark T SmuckerCEO, Chair of Board, Director Sold 13,000 $115.11 $1.5M Form 4
Jun 11, 2026 Jeannette L KnudsenChief Legal Officer Sold 5,550 $116.29 $0.6M Form 4
Mar 10, 2026 Mark T SmuckerCEO, Chair of Board, Director Sold 463 $108.92 $0.1M Form 4
Mar 2, 2026 Tarang AminDirector Bought 880 $113.41 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY24FY25FY26
Net income is positive ✓ ✕ ✕
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✓
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✓ ✕
Current ratio rose ✕ ✓ ✕
Share count didn't rise — — —
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✓ ✕ ✓
F-score — / 9— / 9— / 9
Accruals ratio −2.8%−12.9%−9.6%
Altman Z'' 0.850.200.45

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
J.M. Smucker SJM — 3.7% 4.0% 12.8% 2.2% 60.7x —
Campbell's CPB $6.2B −5.0% 8.7% 7.0% 6.2% 15.8x 5 Compare →
Post POST $4.1B 3.0% 9.8% 6.0% 5.7% 14.7x 4 Compare →
Conagra Brands CAG $7.1B −2.9% −14.4% 8.7% −8.3% — 5 Compare →
Hershey HSY — 4.4% 12.3% 15.6% 11.5% — — Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY17FY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $7.4B $7.4B $7.8B $7.8B $8.0B $8.0B $8.5B $8.2B $8.7B $9.1B
Gross profit $2.8B $2.8B $2.9B $3.0B $3.1B $2.7B $2.8B $3.1B $3.4B $3.0B
Research and development $58.1M — — — — — — — — —
Operating income $1.0B $1.0B $929M $1.2B $1.4B $1.0B $158M $1.3B −$674M $360M
Interest expense $162M $159M $213M $193M $170M $155M $153M $171M $411M $383M
Pretax income $878M $861M $702M $1.0B $1.2B $844M −$9.2M $996M −$1.0B −$62.4M
Income tax $286M −$478M $187M $247M $296M $212M $82.1M $252M $184M $76.3M
Net income $592M $1.3B $514M $780M $876M $632M −$91.3M $744M −$1.2B −$139M
Diluted EPS $5.10 $11.78 $4.52 $6.84 $7.79 $5.83 −$0.86 $7.13 −$11.57 −$1.30
Diluted shares 0.12B 0.11B 0.11B 0.11B 0.11B 0.11B — — — —
Cash flow
Cash from operations $1.1B $1.2B $1.1B $1.3B $1.6B $1.1B $1.2B $1.2B $1.2B $1.5B
Capital expenditure $192M $322M $360M $269M $307M $418M $477M $587M $394M $317M
Free cash flow $867M $896M $781M $986M $1.3B $719M $717M $643M $817M $1.2B
Depreciation and amortization $419M $413M $446M $447M $453M $459M $431M $431M $503M $557M
Stock-based compensation $22.0M $15.4M $20.7M $26.8M $28.7M $22.3M $25.6M $23.9M $29.9M $23.6M
Acquisitions $0.0M $0.0M $1.9B $0.0M $0.0M $0.0M $0.0M $3.9B $0.0M $0.0M
Share buybacks $438M $7.0M $5.4M $4.2M $678M $270M $368M $373M $3.3M $5.6M
Dividends paid $339M $350M $378M $397M $403M $418M $430M $438M $455M $465M
Dividends and buybacks $777M $357M $383M $401M $1.1B $689M $798M $810M $459M $470M
Balance sheet
Cash and short-term investments $167M $193M $101M $391M $334M $170M $656M $62.0M $69.9M $58.6M
Total debt $5.4B $4.8B $5.9B $5.6B $4.8B $4.5B $4.3B $8.4B $7.7B $7.0B
Finance lease liabilities $0.0M $0.0M $0.0M $5.7M $4.3M $3.9M $3.4M $11.1M $12.5M $10.4M
Current assets $1.6B $1.6B $1.6B $2.0B $1.9B $2.0B $2.9B $2.0B $2.1B $2.0B
Current liabilities $1.8B $1.0B $2.3B $1.6B $2.9B $2.0B $2.0B $3.8B $2.7B $2.5B
Inventory $906M $854M $910M $895M $960M $1.1B $1.0B $1.0B $1.2B $1.1B
Property and equipment, net $1.6B $1.7B $1.9B $2.0B $2.0B $2.1B $2.2B $3.1B $3.1B $3.0B
Total assets $15.6B $15.3B $16.7B $17.0B $16.3B $16.1B $15.0B $20.3B $17.6B $16.2B
Total liabilities $8.8B $7.4B $8.7B $8.8B $8.2B $7.9B $7.7B $12.6B $11.5B $10.7B
Shareholders' equity $6.9B $7.9B $8.0B $8.2B $8.1B $8.1B $7.3B $7.7B $6.1B $5.5B
Margins
Gross margin 38.4% 38.6% 37.2% 38.5% 39.2% 33.8% 32.9% 38.1% 38.8% 33.5%
Operating margin 14.1% 14.2% 11.9% 15.7% 17.3% 12.8% 1.9% 16.0% −7.7% 4.0%
EBITDA margin 19.8% 19.8% 17.5% 21.4% 23.0% 18.5% 6.9% 21.2% −2.0% 10.1%
Net margin 8.0% 18.2% 6.6% 10.0% 11.0% 7.9% −1.1% 9.1% −14.1% −1.5%
FCF margin 11.7% 12.2% 10.0% 12.6% 15.7% 9.0% 8.4% 7.9% 9.4% 12.8%
Returns
Return on capital 5.8% 8.5% 5.2% 6.8% 8.0% 6.1% 1.1% 7.2% −3.6% 2.2%
Return on capital employed 7.3% 7.4% 6.5% 8.2% 9.6% 7.4% 1.2% 8.9% −4.3% 2.5%
Return on equity 8.6% 18.2% 6.5% 9.7% 10.7% 7.8% −1.2% 9.9% −17.9% −2.4%
Return on assets 3.8% 8.7% 3.2% 4.6% 5.3% 3.9% −0.6% 4.2% −6.5% −0.8%
Growth
Revenue growth −5.4% −0.5% 6.5% −0.5% 2.6% −0.1% 6.6% −4.1% 6.7% 3.7%
Net income growth −14.0% 126.0% −61.6% 51.5% 12.4% −27.9% −114.5% — −265.4% —
EPS growth −11.5% 131.0% −61.6% 51.3% 13.9% −25.2% −114.8% — −262.3% —
FCF growth −31.2% 3.4% −12.8% 26.1% 27.7% −42.9% −0.3% −10.3% 27.0% 41.6%
Share count change −2.9% −2.3% 0.1% 0.3% −1.2% −3.2% — — — —
Financial health
Net debt / EBITDA 3.6x 3.2x 4.2x 3.1x 2.4x 2.9x 6.2x 4.8x — 7.5x
Debt / equity 0.8x 0.6x 0.7x 0.7x 0.6x 0.6x 0.6x 1.1x 1.3x 1.3x
Interest coverage 6.4x 6.6x 4.4x 6.3x 8.2x 6.6x 1.0x 7.7x −1.6x 0.9x
Current ratio 0.9x 1.5x 0.7x 1.2x 0.7x 1.0x 1.4x 0.5x 0.8x 0.8x
Quick ratio 0.4x 0.7x 0.3x 0.7x 0.3x 0.5x 0.9x 0.3x 0.4x 0.3x
Capital allocation
Capex / revenue 2.6% 4.4% 4.6% 3.5% 3.8% 5.2% 5.6% 7.2% 4.5% 3.5%
Stock comp / revenue 0.3% 0.2% 0.3% 0.3% 0.4% 0.3% 0.3% 0.3% 0.3% 0.3%
Payouts / FCF 89.7% 39.9% 49.1% 40.7% 86.0% 95.8% 111.3% 126.0% 56.2% 40.7%
Quality scores
Piotroski F-score 5.0 8.0 4.0 7.0 8.0 7.0 — — — —
Altman Z'' 1.4 2.3 1.5 2.1 1.8 2.1 1.9 0.9 0.2 0.5
Accruals ratio −3.0% 0.8% −3.9% −2.8% −4.1% −3.1% −8.3% −2.8% −12.9% −9.6%

Source: SEC EDGAR XBRL filings (CIK 0000091419). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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