Business Description
The J.M. Smucker Company is a historic American food manufacturer founded in 1897, renowned for its flagship brands including Smucker's fruit spreads, Jif peanut butter, and Folgers coffee. It earns robust revenue from its diversified portfolio marketed through national retail channels. Under the leadership of CEO Mark Smucker since 2016, the company maintains a strong market position through its legacy of quality and extensive distribution network. It is actively investing in innovation, acquisitions, and sustainability initiatives to spur future growth.
Financial Statements
In thousands, USD
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Total Revenues | 9,050,900 | 8,726,100 | 8,178,700 | 8,529,200 |
| Cost of Sales | 6,016,400 | 5,341,400 | 5,063,300 | 5,727,400 |
| Gross Profit | 3,034,500 | 3,384,700 | 3,115,400 | 2,801,800 |
| Selling, General & Administrative Expenses | 1,496,600 | 1,529,000 | 1,446,200 | 1,455,000 |
| Depreciation & Amortization Expenses | 210,600 | 219,300 | 191,100 | 206,900 |
| Other Operating Expenses | 967,100 | 2,310,300 | 172,300 | 982,400 |
| Operating Profit | 360,200 | (673,900) | 1,305,800 | 157,500 |
| Interest Expense | (381,200) | (388,700) | (264,300) | (152,000) |
| Non-Operating Income | (41,400) | 15,800 | (45,100) | (14,700) |
| Total Non-Operating Income | (422,600) | (372,900) | (309,400) | (166,700) |
| Income Before Provision for Income Taxes | (62,400) | (1,046,800) | 996,400 | (9,200) |
| Provision for Income Taxes | 76,300 | 184,000 | 252,400 | 82,100 |
| Consolidated Net Income | (138,700) | (1,230,800) | 744,000 | (91,300) |
| Net Income Attributable to Common Shareholders | (138,700) | (1,230,800) | 744,000 | (91,300) |
| Basic EPS | -1.30 | -11.57 | 7.14 | -0.86 |
| Diluted EPS | -1.30 | -11.57 | 7.13 | -0.86 |
| Basic Weighted Average Shares Outstanding | 106,700 | 106,400 | 104,100 | 106,200 |
| Diluted Weighted Average Shares Outstanding | 106,700 | 106,400 | 104,400 | 106,200 |
| Shares Outstanding | 106,662 | 106,425 | 106,194 | 104,399 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Cash and Cash Equivalents | 58,600 | 69,900 | 62,000 | 655,800 |
| Short-Term Investments | — | — | — | 487,800 |
| Total Cash and Cash Equivalents | 58,600 | 69,900 | 62,000 | 1,143,600 |
| Accounts Receivable | 656,300 | 619,000 | 736,500 | 597,600 |
| Total Trade Receivables | 656,300 | 619,000 | 736,500 | 597,600 |
| Inventories | 1,126,500 | 1,209,400 | 1,038,900 | 1,009,800 |
| Other Current Assets | 131,700 | 248,300 | 129,500 | 107,700 |
| Total Current Assets | 1,973,100 | 2,146,600 | 1,966,900 | 2,858,700 |
| Net Property, Plant & Equipment | 3,180,900 | 3,195,000 | 3,247,300 | 2,342,500 |
| Net Intangible Assets | 5,683,700 | 6,346,900 | 7,255,400 | 4,429,300 |
| Goodwill | 5,205,000 | 5,710,000 | 7,649,900 | 5,216,900 |
| Other Long-Term Assets | 176,700 | 164,800 | 154,200 | 144,000 |
| Total Assets | 16,219,400 | 17,563,300 | 20,273,700 | 14,991,400 |
| Accounts Payable | 1,175,100 | 1,288,700 | 1,336,200 | 1,392,600 |
| Accrued Expenses | 291,000 | 306,800 | 365,800 | 300,600 |
| Short-Term Debt | 420,900 | 640,800 | 591,000 | — |
| Current Portion of Long-Term Debt | 150,000 | — | 999,300 | — |
| Current Portion of Leases | — | — | — | 33,200 |
| Other Current Liabilities | 501,200 | 415,700 | 468,800 | 260,300 |
| Total Current Liabilities | 2,538,200 | 2,652,000 | 3,761,100 | 1,986,700 |
| Long-Term Debt | 6,392,800 | 7,036,800 | 6,773,700 | 4,314,200 |
| Leases | 125,300 | 84,100 | 143,500 | 77,200 |
| Other Long-Term Liabilities | 1,619,300 | 1,707,800 | 1,901,500 | 1,322,500 |
| Total Long-Term Liabilities | 8,137,400 | 8,828,700 | 8,818,700 | 5,713,900 |
| Total Liabilities | 10,675,600 | 11,480,700 | 12,579,800 | 7,700,600 |
| Common Stock | 26,700 | 26,600 | 26,500 | 26,100 |
| Additional Paid-in Capital | 5,752,500 | 5,738,700 | 5,713,900 | 5,371,800 |
| Accumulated Other Comprehensive Income | (134,100) | (184,500) | (234,600) | (239,200) |
| Retained Earnings | (101,300) | 501,800 | 2,188,100 | 2,132,100 |
| Total Common Shareholders' Equity | 5,543,800 | 6,082,600 | 7,693,900 | 7,290,800 |
| Total Shareholders' Equity | 5,543,800 | 6,082,600 | 7,693,900 | 7,290,800 |
| Total Liabilities and Shareholders' Equity | 16,219,400 | 17,563,300 | 20,273,700 | 14,991,400 |
| FY 2026 | FY 2025 | FY 2024 | FY 2023 | |
|---|---|---|---|---|
| Net Income | (138,700) | (1,230,800) | 744,000 | (91,300) |
| Depreciation & Amortization | 557,000 | 502,500 | 430,800 | 431,000 |
| Share-Based Compensation Expense | 23,600 | 29,900 | 23,900 | 25,600 |
| Other Adjustments | 936,100 | 2,207,500 | 75,200 | 790,000 |
| Changes in Trade Receivables | (36,900) | 117,200 | 41,500 | (74,800) |
| Changes in Inventories | 83,300 | (180,600) | 2,900 | (134,600) |
| Changes in Accounts Payable | (112,000) | (36,500) | (81,700) | 151,600 |
| Changes in Accrued Expenses | (48,500) | (85,400) | 99,400 | 400 |
| Changes in Income Taxes Payable | 142,600 | (50,600) | (34,900) | 9,500 |
| Changes in Other Operating Activities | 67,100 | (62,800) | (71,700) | 87,000 |
| Cash from Operating Activities | 1,473,600 | 1,210,400 | 1,229,400 | 1,194,400 |
| Capital Expenditure | (317,400) | (393,800) | (586,500) | (477,400) |
| Proceeds from Sale of Property, Plant & Equipment | 13,100 | 7,000 | 400 | — |
| Proceeds from Sale of Investments | — | — | 466,300 | — |
| Payments for Business Acquisitions | — | — | (3,920,600) | — |
| Proceeds from Business Divestments | — | 326,000 | 56,300 | 686,300 |
| Other Investing Activities | 45,500 | (39,500) | 19,500 | 47,300 |
| Cash from Investing Activities | (258,800) | (100,300) | (3,964,600) | 256,200 |
| Issuance of Short-Term Debt | (251,500) | 19,200 | 578,200 | (185,900) |
| Net Issuance / (Repayments) of Short-Term Debt | (251,500) | 19,200 | 578,200 | (185,900) |
| Issuance of Long-Term Debt | — | 650,000 | 4,285,000 | — |
| Repayments of Long-Term Debt | (500,000) | (1,300,000) | (1,791,000) | — |
| Net Issuance / (Repayments) of Long-Term Debt | (500,000) | (650,000) | 2,494,000 | — |
| Issuance of Common Shares | — | — | — | 21,600 |
| Repurchases of Common Shares | (5,600) | (3,300) | (372,800) | (367,500) |
| Net Issuance / (Repurchases) of Common Shares | (5,600) | (3,300) | (372,800) | (345,900) |
| Common Share Dividends Paid | (464,700) | (455,400) | (437,500) | (430,200) |
| Other Financing Activities | (4,700) | (13,200) | (120,300) | (2,600) |
| Cash from Financing Activities | (1,226,500) | (1,102,700) | 2,141,600 | (964,600) |
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | 400 | 500 | (200) | (100) |
| Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash | (11,300) | 7,900 | (593,800) | 485,900 |
Key Metrics & Ratios
| Metric | Value |
|---|---|
| Market Cap | $10.46B |
| P/E | -75.41x |
| P/S | 1.16x |
| EV/EBITDA | 19.07x |
| Return on Equity | -2.4% |
| Return on Invested Capital | 5.0% |
| Current Ratio | 0.78x |
| Dividend Yield | 4.4% |
| Free Cash Flow Margin | 12.8% |
Margins
Gross margin
33.5%
Operating margin
4.0%
Net margin
-1.5%
Quarterly Trend
| Quarter | Revenue | YoY growth | Operating margin | Operating income |
|---|---|---|---|---|
| Q4 2026 | $2.27B | +5.8% | 19.6% | $444M |
| Q3 2026 | $2.34B | +7.0% | -23.4% | $-548M |
| Q2 2026 | $2.33B | +2.6% | 18.0% | $418M |
| Q1 2026 | $2.11B | -0.6% | 2.2% | $46M |
| Q4 2025 | $2.14B | — | -27.9% | $-599M |
| Q3 2025 | $2.19B | — | -27.2% | $-594M |
| Q2 2025 | $2.27B | — | 7.5% | $170M |
| Q1 2025 | $2.13B | — | 16.4% | $350M |
More on The J.M. Smucker Company
Figures compiled from public company filings.
See how Top Bucket AI works for your firm
Request DemoTop Bucket AI Research
Stay ahead of private markets
Research and market intelligence for private-markets professionals.
✓
You're subscribed.
Thanks for signing up.