J.M. Smucker Company (SJM)
Consumer Staples · $13.0B market cap · SEC CIK 0000091419
fundamentals score out of 100
Next reports on Nov 23, 2026, with analysts expecting $2.57 in earnings per share.
The case for SJM
- Free cash flow of 8.9% of its market value a year: a lot of cash for the price.
- Pays a 3.7% dividend while you wait.
- Moves less than the market (beta 0.25).
The case against
- Very expensive at 56.4× earnings. Years of growth are already in the price.
- Return on equity of only 4%.
- Net margin of 2.5% leaves very little room for error.
- Current liabilities exceed current assets (ratio 0.87).
- Long-term debt of $6.8B against $52.8M of cash.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Consumer Staples companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 45 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 48 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 25 |
| Momentumhow the price has behaved lately | 66 |
| Stabilityhow violently it moves, what it owes and what it pays you | 56 |
- Each factor except momentum is half fixed thresholds, half rank among the 36 Consumer Staples companies.
Key numbers
| Price / earnings | 56.4× |
|---|---|
| Price / book | 2.22× |
| Price / sales | 1.4× |
| Revenue growth (YoY) | +5.1% |
| EPS growth (YoY) | — |
| Gross margin | 39% |
| Operating margin | 9% |
| Net margin | 3% |
| Return on equity | 4% |
| Debt / equity | 1.17× |
| Current ratio | 0.87 |
| Dividend yield | 3.74% |
| Beta | 0.25 |
| 52-week range | $88.25 – $135.89 |
| Position in that range | 69% of the way up |
| 3-month return | +8.1% |
| 1-year return | +10.2% |
Five years of financials, as filed
Pulled from J.M. Smucker Company's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $9.1B | $8.7B | $8.2B | $8.5B | $8.0B |
| Gross profit | $3.0B | $3.4B | $3.1B | $2.8B | $2.7B |
| Operating income | $360M | -$674M | $1.3B | $158M | $1.0B |
| Net income | -$139M | -$1.2B | $744M | -$91.3M | $632M |
| Operating cash flow | $1.5B | $1.2B | $1.2B | $1.2B | $1.1B |
| Capital expenditure | $317M | $394M | $587M | $477M | $418M |
| Total assets | $16.3B | $18.4B | $20.2B | $16.0B | $16.0B |
| Total liabilities | $11.0B | $11.5B | $12.7B | $7.7B | $7.7B |
| Shareholder equity | $5.2B | $6.9B | $7.6B | $8.3B | $8.3B |
| Cash | $52.8M | $47.2M | $35.9M | $104M | $284M |
| Long-term debt | $6.8B | $6.4B | $8.1B | $4.3B | $4.3B |
| Free cash flow | $1.2B | $817M | $643M | $717M | $719M |
| Gross margin | 33.5% | 38.8% | 38.1% | 32.8% | 33.8% |
| Operating margin | 4.0% | -7.7% | 16.0% | 1.8% | 12.8% |
| Net margin | -1.5% | -14.1% | 9.1% | -1.1% | 7.9% |
| Diluted shares | — | — | — | — | 108M |
What J.M. Smucker Company says it does
The Company: The J. M. Smucker Company ("Company," "registrant," "we," "us," or "our"), often referred to as Smucker’s (a registered trademark), was established in 1897 and incorporated in Ohio in 1921. We operate principally in one industry, the manufacturing and marketing of branded food and beverage products on a worldwide basis, although the majority of our sales are in the United States ("U.S."). Operations outside the U.S. are principally in Canada, although our products are exported to other countries as well. Net sales outside the U.S., subject to foreign currency translation, represented 4 percent of consolidated net sales for 2026. Our branded food and beverage products include a strong portfolio of trusted, iconic, market-leading brands that are sold to consumers primarily through retail outlets in North America. We have five reportable segments: U.S. Retail Coffee, U.S. Retail Frozen Handheld and Spreads, and U.S. Retail…
Risk factors SJM lists in its 10-K
- Deterioration of national and global macroeconomic conditions, an economic recession or slow growth, periods of inflation, or economic uncertainty in key markets may adversely affect consumer spending and demand for our products
- Loss or interruption of supply from primary or single-source suppliers of raw materials and finished goods could have a disruptive effect on our business and adversely affect our results of operations
- Certain of our products are produced at single manufacturing sites
- A significant interruption in the operation of any of our supply chain or distribution capabilities could have an adverse effect on our business, financial condition, and results of operations
- Our business could be harmed by strikes or work stoppages
- The success of our business depends substantially on consumer perceptions of our brands
- We may not be able to attract, develop, and retain the highly skilled people we need to support our business, and our results could be adversely impacted as a result of increased labor and employee-related expenses
- We may not realize the benefits we expect from our cost reduction and other cash management initiatives
- Our success will depend on our continued ability to produce and successfully market products with extended shelf life
- Our operations are subject to the general risks of the food industry
- Changes in our relationships with significant customers, including the loss of our largest customer, could adversely affect our results of operations
- We operate in the competitive food industry and continued demand for our products may be affected by our failure to effectively compete or by changes in consumer preferences
- We may be limited in our ability to pass cost increases onto our customers in the form of price increases or may realize a decrease in sales volume to the extent price increases are implemented
- We must leverage our brand value to comp