The J.M. Smucker Company (SJM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q1 27	$2.22	$3.24	+45.9%	—	$2.2B	—
Q4 26	$2.64	$2.77	+4.9%	—	$2.3B	—
Q3 26	$2.26	$2.38	+5.3%	—	$2.3B	—
Q2 26	$2.1	$2.1	0.0%	—	$2.3B	—
Q1 26	$1.93	$1.9	-1.6%	—	$2.1B	—
Q4 25	$2.25	$2.31	+2.7%	—	$2.1B	—
Q3 25	$2.37	$2.61	+10.1%	—	$2.2B	—
Q2 25	$2.51	$2.76	+10.0%	—	$2.3B	—
Q1 25	$2.17	$2.44	+12.4%	—	$2.1B	—
Q4 24	$2.33	$2.66	+14.2%	—	$2.2B	—
Q3 24	$2.27	$2.48	+9.3%	—	$2.2B	—
Q2 24	$2.47	$2.59	+4.9%	—	$1.9B	—
Q1 24	$2.04	$2.21	+8.3%	—	$1.8B	—
Q4 23	$2.41	$2.64	+9.5%	—	$2.2B	—
Q3 23	$2.13	$2.21	+3.8%	—	$2.2B	—
Q2 23	$2.19	$2.4	+9.6%	—	$2.2B	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY26	—	-$1.3	—	—	$9.1B	—
FY25	—	-$11.6	—	—	$8.7B	—
FY24	—	$7.14	—	—	$8.2B	—
FY23	—	-$0.86	—	—	$8.5B

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	$7.4B	$7.4B	$7.8B	$7.8B	$8B	$8B	$8.5B	$8.2B	$8.7B	$9.1B
YoY change	-5.36%	-0.48%	+6.54%	-0.47%	+2.59%	-0.05%	+6.63%	-4.11%	+6.69%	+3.72%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	7.4B	7.4B	7.8B	7.8B	8B	8B	8.5B	8.2B	8.7B	9.1B
Cost of revenue	4.6B	4.5B	4.9B	4.8B	4.9B	5.3B	5.7B	5.1B	5.3B	6B
Gross profit	2.8B	2.8B	2.9B	3B	3.1B	2.7B	2.8B	3.1B	3.4B	3B
Gross margin	38.4%	38.5%	37.2%	38.5%	39.2%	33.8%	32.8%	38.1%	38.8%	33.5%
Research & development	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	1.4B	1.4B	1.5B	1.5B	1.5B	1.4B	1.5B	1.4B	1.5B	1.5B
Operating expenses	1.4B	1.4B	1.5B	1.5B	1.5B	1.3B	1.4B	1.5B	1.5B	1.5B
Operating income	1.3B	1.3B	1.2B	1.3B	1.4B	1.2B	1.2B	1.4B	1.7B	1.3B
Operating margin	16.9%	17.2%	15.3%	16.6%	17.3%	14.7%	13.8%	17.7%	19%	14.8%
Non-operating income, net	-211.2M	-231.2M	-288.3M	-76.1M	-37M	-167.9M	-1B	-168.7M	-2.3B	-1B
Pretax income	878.4M	861M	701.6M	1B	1.2B	843.8M	-9.2M	996.4M	-1B	-62.4M
Income tax	286.1M	-477.6M	187.2M	247.2M	295.6M	212.1M	82.1M	252.4M	184M	76.3M
Net income	592.3M	1.3B	514.4M	779.5M	876.3M	631.7M	-91.3M	744M	-1.2B	-138.7M
Net margin	8.01%	18.2%	6.56%	9.99%	11%	7.9%	-1.07%	9.1%	-14.1%	-1.53%
EBITDA	1.7B	1.7B	1.6B	1.7B	1.8B	1.6B	1.6B	1.8B	2.2B	1.9B
EPS	5.11	11.8	4.52	6.84	7.79	5.84	-0.86	7.14	-11.6	-1.3
Diluted EPS	5.1	11.8	4.52	6.84	7.79	5.83	-0.86	7.13	-11.6	-1.3

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	1.9B	2.2B	2.2B	2.1B	2.3B	2.2B	2.1B	2.1B	2.3B	2.3B	2.3B	2.2B
Cost of revenue	1.2B	1.4B	1.3B	1.3B	1.4B	1.3B	1.3B	1.6B	1.5B	1.5B	1.4B	1.2B
Gross profit	724.2M	823.1M	913.3M	797.2M	886.1M	878.1M	823.3M	474.7M	869.9M	827.8M	862.1M	979.6M
Gross margin	37.4%	36.9%	41.4%	37.5%	39%	40.2%	38.4%	22.5%	37.3%	35.4%	38%	44.1%
Research & development	—	—	—	—	—	—	—	—	—	—	—	—
Selling, general & administrative	333.5M	374.2M	424.9M	390.1M	390.7M	367.6M	380.6M	377.4M	398.2M	363.2M	357.8M	410.5M
Operating expenses	365.1M	371.1M	413.9M	384.6M	389.1M	355.4M	381.8M	372.9M	395.6M	359.2M	353.2M	409.5M
Operating income	319.5M	396.3M	443.4M	356.6M	441.2M	468.8M	387.9M	51.6M	424.1M	418.3M	449M	512.2M
Operating margin	16.5%	17.8%	20.1%	16.8%	19.4%	21.4%	18.1%	2.44%	18.2%	17.9%	19.8%	23.1%
Non-operating income, net	-15.5M	-101M	-33M	-10.2M	-275.7M	-1.1B	-1B	-7.9M	-7.1M	-975.7M	-33.5M	-2M
Pretax income	249.4M	195.5M	313.1M	246M	66.8M	-662.5M	-697.1M	-56.5M	318.4M	-651.9M	327.6M	427.9M
Income tax	54.5M	75.1M	68M	61M	91.3M	-200K	31.9M	-12.6M	77.1M	72.3M	-60.5M	103.6M
Net income	194.9M	120.4M	245.1M	185M	-24.5M	-662.3M	-729M	-43.9M	241.3M	-724.2M	388.1M	324.3M
Net margin	10.1%	5.4%	11.1%	8.71%	-1.08%	-30.3%	-34%	-2.08%	10.4%	-31%	17.1%	14.6%
EBITDA	397.7M	517.4M	572.8M	482.5M	565M	617.8M	537.8M	184.9M	565.9M	553.4M	554.4M	638.3M
EPS	1.91	1.14	2.31	1.74	-0.23	-6.22	-6.85	-0.41	2.26	-6.79	3.64	3.04
Diluted EPS	1.9	1.13	2.3	1.74	-0.23	-6.22	-6.85	-0.41	2.26	-6.79	3.64	3.03

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Market cap	14.7B	13B	13.9B	13.1B	14.7B	14.8B	16.4B	12B	12.4B	10.5B	12.9B
Enterprise value	19.9B	17.6B	19.8B	18.5B	19.3B	19.3B	19.7B	20.4B	20.1B	17.5B	19.8B
Shares outstanding	116M	113.6M	113.7M	114M	112.4M	108.2M	106.2M	104.1M	106.4M	106.7M	106.7M

Valuation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
P/E	24.8	9.68	27.1	16.8	16.8	23.5	—	16.1	—	—	56.5
P/S	1.99	1.76	1.78	1.68	1.84	1.85	1.92	1.46	1.42	1.16	1.41
P/B	2.15	1.64	1.75	1.6	1.81	1.82	2.25	1.55	2.03	1.89	2.33
EV/EBITDA	11.9	10.5	12.2	10.7	10.7	11.9	12.3	11.1	9.23	9.41	8.76
EV/Sales	2.7	2.39	2.52	2.37	2.41	2.41	2.31	2.5	2.3	1.93	2.17
Earnings yield	4.03%	10.3%	3.69%	5.95%	5.95%	4.26%	—	6.22%	—	—	1.77%
FCF yield	5.89%	6.91%	5.6%	7.52%	8.55%	4.85%	4.37%	5.38%	6.6%	11.1%	11.4%
PEG	—	—	—	—	—	—	—	—	—	—	-0.07

Profitability

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Gross margin	38.4%	38.5%	37.2%	38.5%	39.2%	33.8%	32.8%	38.1%	38.8%	33.5%	44.1%
Operating margin	16.9%	17.2%	15.3%	16.6%	17.3%	14.7%	13.8%	17.7%	19%	14.8%	17.9%
Net margin	8.01%	18.2%	6.56%	9.99%	11%	7.9%	-1.07%	9.1%	-14.1%	-1.53%	2.51%
ROE	8.65%	17%	6.45%	9.52%	10.8%	7.76%	-1.25%	9.67%	-20.2%	-2.5%	3.93%
ROA	3.79%	8.75%	3.08%	4.59%	5.38%	3.93%	-0.61%	3.67%	-7.01%	-0.86%	6.26%
ROIC	6.99%	10.1%	6.37%	7.22%	8.16%	6.98%	11.2%	6.69%	12%	10.7%	7.78%
Return on tangible assets	-6.72%	-15.9%	-5.5%	-9.17%	-11.2%	-8.68%	2.12%	-7.8%	18.8%	2.5%	-4.21%

Financial health

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Current ratio	0.9	1.5	0.69	1.24	0.68	1.03	1.44	0.52	0.81	0.78	0.87
Quick ratio	0.4	0.68	0.31	0.68	0.34	0.47	0.93	0.25	0.35	0.33	0.35
Debt / equity	0.79	0.61	0.74	0.71	0.6	0.57	0.61	1.11	1.28	1.28	1.21
Debt / assets	0.35	0.32	0.35	0.34	0.3	0.29	0.3	0.42	0.44	0.44	0.43
Net debt / EBITDA	3.13	2.78	3.58	3.11	2.54	2.75	2.05	4.63	3.54	3.78	2.96
Interest coverage	6.39	5.95	4.37	6.43	7.62	6.24	0.94	4.77	-1.69	0.84	2.16
Effective tax rate	32.6%	0%	26.7%	24.1%	25.2%	25.1%	0%	25.3%	0%	0%	45.6%

Per share

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Revenue per share	63.7	64.8	68.9	68.4	71.2	73.9	80.3	78.6	82	84.8	85.8
EPS (basic)	5.11	11.8	4.52	6.84	7.79	5.84	-0.86	7.14	-11.6	-1.3	-1.3
EPS (diluted)	5.1	11.8	4.52	6.84	7.79	5.83	-0.86	7.13	-11.6	-1.3	2.14
Book value per share	59	69.5	70.1	71.8	72.3	75.2	68.7	73.9	57.2	52	52
FCF per share	7.47	7.89	6.87	8.64	11.2	6.64	6.75	6.18	7.67	10.8	14.8
Cash per share	1.44	1.7	0.89	3.43	2.97	1.57	10.8	0.6	0.66	0.55	0.4
Capex per share	1.65	2.72	3.16	2.36	2.73	3.86	4.5	5.63	3.7	—	—

Capital allocation

Metric	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26	Current
Capex / revenue	2.6%	4.19%	4.59%	3.45%	3.83%	5.22%	5.6%	7.17%	4.51%	—	—
Capex / operating cash flow	20%	30.4%	40.6%	23.6%	20.6%	41.2%	292.9%	54.1%	-39%	—	—
Payout ratio	57.3%	26.2%	73.5%	50.9%	46%	66.2%	-471.2%	58.8%	-37%	-335%	205.6%
Dividend yield	2.31%	2.7%	2.71%	3.03%	2.74%	2.82%	2.62%	3.66%	3.68%	4.44%	3.71%

Yield

3.71%

trailing twelve months

Frequency

Quarterly

Last dividend

$1.12

ex-dividend Aug 14, 2026

Payout ratio

206%

of earnings

Dividend growth

16 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Aug 14, 2026	$1.12
May 15, 2026	$1.10
Feb 13, 2026	$1.10

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Revenue	$1.9B	$2.2B	$2.2B	$2.1B	$2.3B	$2.2B	$2.1B	$2.1B	$2.3B	$2.3B	$2.3B	$2.2B
YoY change	-12.1%	+0.58%	-1.3%	+17.7%	+17.2%	-1.94%	-2.81%	-0.56%	+2.59%	+7.02%	+5.8%	+5.02%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Cash & short-term investments	166.8M	192.6M	101.3M	391.1M	334.3M	169.9M	1.1B	62M	69.9M	58.6M
Receivables	438.7M	385.6M	503.8M	551.4M	533.7M	524.7M	597.6M	736.5M	619M	656.3M
Inventory	905.7M	854.4M	910.3M	895.3M	959.9M	1.1B	1B	1B	1.2B	1.1B
Total current assets	1.6B	1.6B	1.6B	2B	1.9B	2B	2.9B	2B	2.1B	2B
Property, plant & equipment	851.3M	916.5M	1B	1.1B	1.2B	1.3B	1.4B	2.1B	1.8B	1.7B
Goodwill & intangibles	24.5B	23.7B	26.1B	25.5B	24.1B	23.3B	19.3B	29.8B	24.1B	21.8B
Total assets	15.6B	15.3B	16.7B	17B	16.3B	16.1B	15B	20.3B	17.6B	16.2B
Accounts payable	477.2M	512.1M	591M	782M	1B	1.2B	1.4B	1.3B	1.3B	1.2B
Short-term debt	953M	144M	1.2B	284.5M	1.3B	220.1M	33.2M	1.6B	640.8M	570.9M
Total current liabilities	1.8B	1B	2.3B	1.6B	2.9B	2B	2B	3.8B	2.7B	2.5B
Long-term debt	4.4B	4.7B	4.7B	5.5B	3.6B	4.4B	4.4B	6.9B	7.1B	6.5B
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	8B	8.2B	8.1B	8.1B	7.3B	7.7B	6.1B	5.5B
Total debt	5.4B	4.8B	5.9B	5.8B	4.9B	4.6B	4.4B	8.5B	7.8B	7.1B
Net debt	5.2B	4.6B	5.8B	5.4B	4.6B	4.4B	3.8B	8.5B	7.7B	7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Cash & short-term investments	4.1B	35.9M	62M	39.5M	49.2M	47.2M	69.9M	39.3M	62.8M	52.8M	58.6M	43.2M
Receivables	587.9M	789.6M	736.5M	734.9M	804.6M	654.3M	619M	643.2M	675.2M	645.7M	656.3M	615.7M
Inventory	1.1B	987.6M	1B	1.1B	1.1B	1.1B	1.2B	1.4B	1.4B	1.2B	1.1B	1.2B
Total current assets	5.9B	1.9B	2B	2.1B	2.1B	2B	2.1B	2.4B	2.3B	2B	2B	2B
Property, plant & equipment	1.6B	2B	2.1B	2B	1.9B	1.9B	1.8B	1.7B	1.7B	1.7B	1.7B	1.7B
Goodwill & intangibles	19.1B	30B	29.8B	29.7B	28.4B	26.2B	24.1B	24B	23.9B	21.9B	21.8B	21.6B
Total assets	18.1B	20.2B	20.3B	20.3B	20B	18.4B	17.6B	17.7B	17.6B	16.3B	16.2B	16.2B
Accounts payable	1.3B	1.3B	1.3B	1.2B	1.2B	1.1B	1.3B	1.2B	1.1B	1.1B	1.2B	1.2B
Short-term debt	33.2M	458.6M	1.6B	1.7B	1.5B	1.5B	640.8M	951.6M	748.2M	486.9M	570.9M	343.5M
Total current liabilities	1.8B	2.5B	3.8B	3.8B	3.6B	3.3B	2.7B	3B	2.6B	2.4B	2.5B	2.3B
Long-term debt	7.9B	8.3B	6.9B	6.9B	6.9B	6.5B	7.1B	7.1B	7.2B	7B	6.5B	6.6B
Total liabilities	11B	12.7B	12.6B	12.6B	12.4B	11.5B	11.5B	11.8B	11.6B	11B	10.7B	10.5B
Shareholders' equity	7.1B	7.6B	7.7B	7.8B	7.6B	6.9B	6.1B	5.9B	6.1B	5.2B	5.5B	5.8B
Total debt	7.9B	8.7B	8.5B	8.6B	8.4B	7.9B	7.8B	8.1B	7.9B	7.5B	7.1B	6.9B
Net debt	4.3B	8.7B	8.5B	8.6B	8.3B	7.9B	7.7B	8B	7.9B	7.4B	7B	6.9B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Net income	592.3M	1.3B	514.4M	779.5M	876.3M	631.7M	-91.3M	744M	-1.2B	-138.7M
Depreciation & amortization	419M	413.1M	446.3M	446.5M	452.5M	459.1M	431M	430.8M	502.5M	557M
Stock-based compensation	22M	15.4M	20.7M	26.8M	28.7M	22.3M	25.6M	23.9M	29.9M	23.6M
Change in working capital	17.4M	93.7M	50.5M	135.9M	120.9M	-61.7M	38.5M	-107.7M	-199.4M	138.1M
Operating cash flow	961.2M	1B	885.5M	1.1B	1.5B	1B	163M	1.1B	-1B	1.5B
Capital expenditure	-191.9M	-308.5M	-359.8M	-269.3M	-306.7M	-417.5M	-477.4M	-586.5M	-393.8M	—
Investing cash flow	-189.7M	-277.6M	-1.9B	-271.5M	311.1M	-355.5M	256.2M	-4B	-100.3M	45.5M
Dividends paid	-339.3M	-350.3M	-377.9M	-396.8M	-403.2M	-418.1M	-430.2M	-437.5M	-455.4M	-464.7M
Share repurchases	-437.6M	-7M	-5.4M	-4.2M	-678.4M	-270.4M	-367.5M	-372.8M	-3.3M	-5.6M
Financing cash flow	-806.1M	-925.9M	699M	-695.8M	-2.1B	-960.8M	-986.2M	2.1B	-1.1B	-1.2B
Net change in cash	-34.6M	-189.5M	-339.7M	174M	-315.8M	-303.3M	-567M	-741.6M	-2.2B	292.6M
Free cash flow	866.6M	896.1M	781.4M	985.5M	1.3B	718.8M	717M	642.9M	816.6M	1.2B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26	Q3 26	Q4 26	Q1 27
Net income	—	—	—	—	—	—	—	—	241.3M	-724.2M	388.1M	324.3M
Depreciation & amortization	—	—	—	—	—	—	—	—	143.3M	144.1M	134.4M	127.5M
Stock-based compensation	—	—	—	—	—	—	—	—	8.9M	2.5M	3.2M	12.2M
Change in working capital	—	—	—	—	—	—	—	—	-80.2M	370.8M	70.4M	-5.6M
Operating cash flow	—	—	—	—	—	—	—	—	346.5M	558.5M	579.2M	425.7M
Capital expenditure	—	—	—	—	—	—	—	—	—	—	—	—
Investing cash flow	—	—	—	—	—	—	—	—	74M	87.6M	10.4M	2.3M
Dividends paid	-108M	-112.3M	-112M	-112.1M	-114.4M	-114.4M	-114.5M	-114.4M	-116.8M	-116.7M	-116.8M	-116.8M
Share repurchases	—	—	—	—	—	—	—	—	-400K	-200K	-400K	-5.7M
Financing cash flow	-108M	-112.3M	-112M	-112.1M	-114.4M	-114.4M	-114.5M	-114.4M	-329.7M	-386M	-488.8M	-354M
Net change in cash	-108M	-112.3M	-112M	-112.1M	-114.4M	-114.4M	-114.5M	-114.4M	90.8M	260.1M	100.8M	74M
Free cash flow	—	—	—	—	—	—	—	—	280.2M	487M	483.9M	337.3M

The J.M. Smucker Company Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement