Conagra Brands vs J.M. Smucker
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KIRA’s take AI analyst
I put Conagra Brands and J.M. Smucker side by side, using each one’s latest annual report. Here is what stands out:
- Conagra Brands is the larger business, with $11.3B of revenue in fiscal 2026 against $9.1B for J.M. Smucker.
- J.M. Smucker grew revenue faster (3.7%, against −2.9%).
- J.M. Smucker kept more of each dollar of sales as operating profit (4.0% operating margin, against −14.4%).
- J.M. Smucker turned more of its sales into free cash flow (12.8% FCF margin, against 8.7%).
- J.M. Smucker earned a higher return on the capital invested in it (2.2%, against −8.3%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Conagra Brands
CAG
0/8
J.M. Smucker
SJM
8/8
Revenue growth5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equity
Side by side
Best in the row
| Latest fiscal year | CAG FY26 | SJM FY26 |
|---|---|---|
| Size | ||
| Market cap | $7.0B | — |
| Revenue | $11.3B | $9.1B |
| Free cash flow | $979M | $1.2B |
| Net income | −$1.9B | −$139M |
| Growth | ||
| Revenue growth | −2.9% | 3.7% |
| 5-year growth | 0.2% | 2.5% |
| Share count change | −0.2% | — |
| Profitability | ||
| Gross margin | 23.9% | 33.5% |
| Operating margin | −14.4% | 4.0% |
| Net margin | −17.0% | −1.5% |
| FCF margin | 8.7% | 12.8% |
| Return on capital | −8.3% | 2.2% |
| Return on equity | −25.1% | −2.4% |
| Balance sheet | ||
| Net debt | $7.3B | $6.9B |
| Net debt / EBITDA | — | 7.5x |
| Dividends and buybacks | $685M | $470M |
| Valuation & quality | ||
| P/E | — | 60.1x |
| Piotroski F-score | 5 | — |
Ten years
Revenue
FY17
CAG $7.8B
SJM $7.4B
FY18
CAG $7.9B
SJM $7.4B
FY19
CAG $9.5B
SJM $7.8B
FY20
CAG $11.1B
SJM $7.8B
FY21
CAG $11.2B
SJM $8.0B
FY22
CAG $11.5B
SJM $8.0B
FY23
CAG $12.3B
SJM $8.5B
FY24
CAG $12.1B
SJM $8.2B
FY25
CAG $11.6B
SJM $8.7B
FY26
CAG $11.3B
SJM $9.1B
CAG
SJM
Operating margin
FY17
CAG 15.8%
SJM 14.1%
FY18
CAG 17.8%
SJM 14.2%
FY19
CAG 17.2%
SJM 11.9%
FY20
CAG 16.4%
SJM 15.7%
FY21
CAG 19.1%
SJM 17.3%
FY22
CAG 13.8%
SJM 12.8%
FY23
CAG 8.8%
SJM 1.9%
FY24
CAG 7.1%
SJM 16.0%
FY25
CAG 11.8%
SJM −7.7%
FY26
CAG −14.4%
SJM 4.0%
CAG
SJM
Free cash flow
FY17
CAG $928M
SJM $867M
FY18
CAG $703M
SJM $896M
FY19
CAG $772M
SJM $781M
FY20
CAG $1.5B
SJM $986M
FY21
CAG $962M
SJM $1.3B
FY22
CAG $713M
SJM $719M
FY23
CAG $633M
SJM $717M
FY24
CAG $1.6B
SJM $643M
FY25
CAG $1.3B
SJM $817M
FY26
CAG $979M
SJM $1.2B
CAG
SJM
Return on capital
FY17
CAG 11.1%
SJM 5.8%
FY18
CAG 16.6%
SJM 8.5%
FY19
CAG 9.9%
SJM 5.2%
FY20
CAG 8.3%
SJM 6.8%
FY21
CAG 10.7%
SJM 8.0%
FY22
CAG 6.7%
SJM 6.1%
FY23
CAG 4.5%
SJM 1.1%
FY24
CAG 2.8%
SJM 7.2%
FY25
CAG 7.9%
SJM −3.6%
FY26
CAG −8.3%
SJM 2.2%
CAG
SJM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.