Campbell's vs J.M. Smucker
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The short version
- Campbell's is the larger business, with $9.7B of revenue in fiscal 2026 against $9.1B for J.M. Smucker.
- J.M. Smucker grew revenue faster (3.7%, against −5.0%).
- Campbell's kept more of each dollar of sales as operating profit (8.7% operating margin, against 4.0%).
- J.M. Smucker turned more of its sales into free cash flow (12.8% FCF margin, against 7.0%).
- Campbell's earned a higher return on the capital invested in it (6.2%, against 2.2%).
| Latest fiscal year | CPB · FY26 | SJM · FY26 |
|---|---|---|
| Size | ||
| Market cap | $6.2B | — |
| Revenue | $9.7B | $9.1B |
| Free cash flow | $678M | $1.2B |
| Net income | $403M | −$139M |
| Growth | ||
| Revenue growth | −5.0% | 3.7% |
| 5-year growth | 2.8% | 2.5% |
| Share count change | 0.0% | — |
| Profitability | ||
| Gross margin | 28.1% | 33.5% |
| Operating margin | 8.7% | 4.0% |
| Net margin | 4.1% | −1.5% |
| FCF margin | 7.0% | 12.8% |
| Return on capital | 6.2% | 2.2% |
| Return on equity | 10.4% | −2.4% |
| Balance sheet | ||
| Net debt | $6.7B | $6.9B |
| Net debt / EBITDA | 5.3x | 7.5x |
| Dividends and buybacks | $496M | $470M |
| Valuation & quality | ||
| P/E | — | 60.7x |
| Piotroski F-score | 5 | — |
Revenue
FY17
CPB $5.8B
SJM $7.4B
FY18
CPB $6.6B
SJM $7.4B
FY19
CPB $8.1B
SJM $7.8B
FY20
CPB $8.7B
SJM $7.8B
FY21
CPB $8.5B
SJM $8.0B
FY22
CPB $8.6B
SJM $8.0B
FY23
CPB $9.4B
SJM $8.5B
FY24
CPB $9.6B
SJM $8.2B
FY25
CPB $10.3B
SJM $8.7B
FY26
CPB $9.7B
SJM $9.1B
CPB
SJM
Operating margin
FY17
CPB 24.5%
SJM 14.1%
FY18
CPB 15.3%
SJM 14.2%
FY19
CPB 12.1%
SJM 11.9%
FY20
CPB 12.7%
SJM 15.7%
FY21
CPB 18.2%
SJM 17.3%
FY22
CPB 13.6%
SJM 12.8%
FY23
CPB 14.0%
SJM 1.9%
FY24
CPB 10.4%
SJM 16.0%
FY25
CPB 11.0%
SJM −7.7%
FY26
CPB 8.7%
SJM 4.0%
CPB
SJM
Free cash flow
FY17
CPB $950M
SJM $867M
FY18
CPB $898M
SJM $896M
FY19
CPB $1.0B
SJM $781M
FY20
CPB $1.1B
SJM $986M
FY21
CPB $760M
SJM $1.3B
FY22
CPB $939M
SJM $719M
FY23
CPB $773M
SJM $717M
FY24
CPB $668M
SJM $643M
FY25
CPB $705M
SJM $817M
FY26
CPB $678M
SJM $1.2B
CPB
SJM
Return on capital
FY17
CPB 19.8%
SJM 5.8%
FY18
CPB 11.0%
SJM 8.5%
FY19
CPB 7.3%
SJM 5.2%
FY20
CPB 9.8%
SJM 6.8%
FY21
CPB 14.5%
SJM 8.0%
FY22
CPB 11.2%
SJM 6.1%
FY23
CPB 12.3%
SJM 1.1%
FY24
CPB 7.9%
SJM 7.2%
FY25
CPB 7.9%
SJM −3.6%
FY26
CPB 6.2%
SJM 2.2%
CPB
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.