Freshpet vs J&J Snack Foods
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The short version
- J&J Snack Foods is the larger business, with $1.6B of revenue in fiscal 2025 against $1.1B for Freshpet.
- Freshpet grew revenue faster (13.0%, against 0.5%).
- Freshpet kept more of each dollar of sales as operating profit (6.9% operating margin, against 5.3%).
- J&J Snack Foods turned more of its sales into free cash flow (5.2% FCF margin, against 1.1%).
- J&J Snack Foods earned a higher return on the capital invested in it (7.3%, against 5.9%).
- Investors pay more for each dollar of J&J Snack Foods’s earnings: a P/E of 32.1x against 16.9x for Freshpet.
| Latest fiscal year | FRPT · FY25 | JJSF · FY25 |
|---|---|---|
| Size | ||
| Market cap | $3.6B | $1.6B |
| Revenue | $1.1B | $1.6B |
| Free cash flow | $12.4M | $82.3M |
| Net income | $139M | $65.6M |
| Growth | ||
| Revenue growth | 13.0% | 0.5% |
| 5-year growth | 28.2% | 9.2% |
| Share count change | 11.5% | 0.5% |
| Profitability | ||
| Gross margin | 40.8% | 29.7% |
| Operating margin | 6.9% | 5.3% |
| Net margin | 12.6% | 4.1% |
| FCF margin | 1.1% | 5.2% |
| Return on capital | 5.9% | 7.3% |
| Return on equity | 12.3% | 6.8% |
| Balance sheet | ||
| Net debt | $150M | −$104M |
| Net debt / EBITDA | 0.9x | −0.7x |
| Dividends and buybacks | $0.0M | $68.8M |
| Valuation & quality | ||
| P/E | 16.9x | 32.1x |
| Piotroski F-score | 8 | 4 |
Revenue
FY16
FRPT $130M
JJSF $993M
FY17
FRPT $152M
JJSF $1.1B
FY18
FRPT $193M
JJSF $1.1B
FY19
FRPT $246M
JJSF $1.2B
FY20
FRPT $319M
JJSF $1.0B
FY21
FRPT $426M
JJSF $1.1B
FY22
FRPT $595M
JJSF $1.4B
FY23
FRPT $767M
JJSF $1.6B
FY24
FRPT $975M
JJSF $1.6B
FY25
FRPT $1.1B
JJSF $1.6B
FRPT
JJSF
Operating margin
FY16
FRPT −1.7%
JJSF 11.4%
FY17
FRPT −1.8%
JJSF 10.9%
FY18
FRPT −2.5%
JJSF 9.7%
FY19
FRPT −0.1%
JJSF 9.9%
FY20
FRPT −0.6%
JJSF 1.7%
FY21
FRPT −5.8%
JJSF 6.2%
FY22
FRPT −8.7%
JJSF 4.5%
FY23
FRPT −4.0%
JJSF 7.0%
FY24
FRPT 3.9%
JJSF 7.5%
FY25
FRPT 6.9%
JJSF 5.3%
FRPT
JJSF
Free cash flow
FY16
FRPT −$17.2M
JJSF $72.5M
FY17
FRPT −$2.7M
JJSF $53.2M
FY18
FRPT $2.3M
JJSF $63.3M
FY19
FRPT −$54.3M
JJSF $90.4M
FY20
FRPT −$113M
JJSF $34.3M
FY21
FRPT −$321M
JJSF $47.9M
FY22
FRPT −$273M
JJSF −$61.2M
FY23
FRPT −$163M
JJSF $67.5M
FY24
FRPT −$32.8M
JJSF $99.5M
FY25
FRPT $12.4M
JJSF $82.3M
FRPT
JJSF
Return on capital
FY16
FRPT —
JJSF —
FY17
FRPT —
JJSF —
FY18
FRPT —
JJSF —
FY19
FRPT —
JJSF —
FY20
FRPT —
JJSF —
FY21
FRPT —
JJSF —
FY22
FRPT −5.4%
JJSF 6.5%
FY23
FRPT −2.5%
JJSF 9.1%
FY24
FRPT 3.3%
JJSF 9.6%
FY25
FRPT 5.9%
JJSF 7.3%
FRPT
JJSF
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.