J M Smucker Financials
This page shows J M Smucker (SJM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Steady cash generation is supporting an acquisition-shaped balance sheet even as reported earnings swing far more violently.
Year over year, revenue and gross margin improved, but net income swung from$744M to-$1.23B . Operating cash flow still held near$1.2B while gross margin stayed around39.0% , a profit-to-cash disconnect that suggests the reported loss came more from non-cash or below-operating charges than from a broken cash engine.
A large investment year featured
The cash engine remains sturdier than earnings: free cash flow was
Financial Health Signals
Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of J M Smucker's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
J M Smucker has an operating margin of 4.0%, meaning the company retains $4 of operating profit per $100 of revenue. This below-average margin results in a low score of 29/100, suggesting thin profitability after operating expenses. This is up from -7.7% the prior year.
J M Smucker's revenue grew a modest 3.7% year-over-year to $9.1B. This slow but positive growth earns a score of 42/100.
J M Smucker carries a low D/E ratio of 1.15, meaning only $1.15 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 79/100, indicating a strong balance sheet with room for future borrowing.
J M Smucker's current ratio of 0.78 is below the typical benchmark, resulting in a score of 10/100. This tight liquidity could limit financial flexibility if cash inflows slow.
J M Smucker has a free cash flow margin of 12.8%, earning a moderate score of 52/100. The company generates positive cash flow after capital investments, but with room for improvement.
J M Smucker generates a -2.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -20.8% the prior year.
J M Smucker scores 1.28, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($12.4B) relative to total liabilities ($10.7B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
J M Smucker passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, J M Smucker generates $-10.62 in operating cash flow ($1.5B OCF vs -$138.7M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
J M Smucker generated $9.1B in revenue in fiscal year 2026. This represents an increase of 3.7% from the prior year.
J M Smucker's EBITDA was $920.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 648.4% from the prior year.
J M Smucker reported -$138.7M in net income in fiscal year 2026. This represents an increase of 88.7% from the prior year.
J M Smucker earned $-1.30 per diluted share (EPS) in fiscal year 2026. This represents an increase of 88.8% from the prior year.
Cash & Balance Sheet
J M Smucker generated $1.2B in free cash flow in fiscal year 2026, representing cash available after capex. This represents an increase of 41.6% from the prior year.
J M Smucker held $58.6M in cash against $6.4B in long-term debt as of fiscal year 2026.
J M Smucker paid $4.40 per share in dividends in fiscal year 2026. This represents an increase of 1.9% from the prior year.
J M Smucker had 107M shares outstanding in fiscal year 2026. This represents an increase of 0.1% from the prior year.
Margins & Returns
J M Smucker's gross margin was 33.5% in fiscal year 2026, indicating the percentage of revenue retained after direct costs. This is down 5.3 percentage points from the prior year.
J M Smucker's operating margin was 4.0% in fiscal year 2026, reflecting core business profitability. This is up 11.7 percentage points from the prior year.
J M Smucker's net profit margin was -1.5% in fiscal year 2026, showing the share of revenue converted to profit. This is up 12.6 percentage points from the prior year.
J M Smucker's ROE was -2.5% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is up 18.3 percentage points from the prior year.
Capital Allocation
J M Smucker invested $55.2M in research and development in fiscal year 2026.
J M Smucker spent $5.6M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 69.7% from the prior year.
J M Smucker invested $317.4M in capex in fiscal year 2026, funding long-term assets and infrastructure. This represents a decrease of 19.4% from the prior year.
SJM Income Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.3B-3.0% | $2.3B+0.4% | $2.3B+10.3% | $2.1B-1.4% | $2.1B-1.9% | $2.2B-3.8% | $2.3B+6.9% | $2.1B |
| Cost of Revenue | $1.4B-7.0% | $1.5B+3.5% | $1.5B-10.9% | $1.6B+24.1% | $1.3B+1.0% | $1.3B-5.6% | $1.4B+4.3% | $1.3B |
| Gross Profit | $862.1M+4.1% | $827.8M-4.8% | $869.9M+83.3% | $474.7M-42.3% | $823.3M-6.2% | $878.1M-0.9% | $886.1M+11.2% | $797.2M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $357.8M-1.5% | $363.2M-8.8% | $398.2M+5.5% | $377.4M-0.8% | $380.6M+3.5% | $367.6M-5.9% | $390.7M+0.2% | $390.1M |
| Operating Income | $444.5M+181.1% | -$548.4M-231.0% | $418.5M+817.8% | $45.6M+107.6% | -$599.1M-0.9% | -$594.0M-450.0% | $169.7M-51.4% | $349.5M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | -$60.5M-183.7% | $72.3M-6.2% | $77.1M+711.9% | -$12.6M-139.5% | $31.9M+16050.0% | -$200K-100.2% | $91.3M+49.7% | $61.0M |
| Net Income | $388.1M+153.6% | -$724.2M-400.1% | $241.3M+649.7% | -$43.9M+94.0% | -$729.0M-10.1% | -$662.3M-2603.3% | -$24.5M-113.2% | $185.0M |
| EPS (Diluted) | N/A | $-6.79-400.4% | $2.26+651.2% | $-0.41 | N/A | $-6.22-2604.3% | $-0.23-113.2% | $1.74 |
SJM Balance Sheet
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $16.2B-0.3% | $16.3B-7.7% | $17.6B-0.6% | $17.7B+1.0% | $17.6B-4.7% | $18.4B-8.0% | $20.0B-1.6% | $20.3B |
| Current Assets | $2.0B-0.8% | $2.0B-14.5% | $2.3B-3.2% | $2.4B+11.9% | $2.1B+8.7% | $2.0B-3.9% | $2.1B-1.2% | $2.1B |
| Cash & Equivalents | $58.6M+11.0% | $52.8M-15.9% | $62.8M+59.8% | $39.3M-43.8% | $69.9M+48.1% | $47.2M-4.1% | $49.2M+24.6% | $39.5M |
| Inventory | $1.1B-3.8% | $1.2B-13.5% | $1.4B-2.3% | $1.4B+14.6% | $1.2B+11.3% | $1.1B+0.2% | $1.1B-4.7% | $1.1B |
| Accounts Receivable | $656.3M+1.6% | $645.7M-4.4% | $675.2M+5.0% | $643.2M+3.9% | $619.0M-5.4% | $654.3M-18.7% | $804.6M+9.5% | $734.9M |
| Goodwill | $5.2B0.0% | $5.2B-8.8% | $5.7B0.0% | $5.7B0.0% | $5.7B-13.1% | $6.6B-11.2% | $7.4B-3.3% | $7.6B |
| Total Liabilities | $10.7B-3.2% | $11.0B-4.7% | $11.6B-2.1% | $11.8B+2.9% | $11.5B-0.3% | $11.5B-7.0% | $12.4B-1.5% | $12.6B |
| Current Liabilities | $2.5B+7.7% | $2.4B-10.2% | $2.6B-11.1% | $3.0B+11.4% | $2.7B-19.4% | $3.3B-7.7% | $3.6B-5.3% | $3.8B |
| Long-Term Debt | $6.4B-6.6% | $6.8B-2.8% | $7.0B0.0% | $7.0B0.0% | $7.0B+10.2% | $6.4B-5.8% | $6.8B0.0% | $6.8B |
| Total Equity | $5.5B+5.9% | $5.2B-13.6% | $6.1B+2.3% | $5.9B-2.6% | $6.1B-11.9% | $6.9B-9.5% | $7.6B-1.8% | $7.8B |
| Retained Earnings | -$101.3M+72.8% | -$372.8M-179.6% | $468.2M+36.3% | $343.5M-31.5% | $501.8M-62.7% | $1.3B-36.6% | $2.1B-6.1% | $2.3B |
SJM Cash Flow Statement
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $579.2M+3.7% | $558.5M+61.2% | $346.5M+3368.9% | -$10.6M-102.7% | $393.9M+64.5% | $239.4M-40.8% | $404.2M+133.8% | $172.9M |
| Capital Expenditures | $95.3M+33.3% | $71.5M+7.8% | $66.3M-21.4% | $84.3M-11.3% | $95.0M+7.8% | $88.1M+1.3% | $87.0M-29.7% | $123.7M |
| Free Cash Flow | $483.9M-0.6% | $487.0M+73.8% | $280.2M+395.3% | -$94.9M-131.7% | $298.9M+97.6% | $151.3M-52.3% | $317.2M+544.7% | $49.2M |
| Investing Cash Flow | -$84.9M-627.3% | $16.1M+103.8% | $7.9M+104.0% | -$197.9M-141.9% | -$81.8M-139.5% | $207.2M+488.7% | -$53.3M+69.1% | -$172.4M |
| Financing Cash Flow | -$488.8M+16.6% | -$586.0M-77.7% | -$329.7M-285.2% | $178.0M+160.9% | -$292.1M+34.6% | -$446.9M-31.2% | -$340.7M-1381.3% | -$23.0M |
| Dividends Paid | $116.8M+0.1% | $116.7M-0.1% | $116.8M+2.1% | $114.4M-0.1% | $114.5M+0.1% | $114.4M0.0% | $114.4M+2.1% | $112.1M |
| Share Buybacks | $400K+100.0% | $200K-50.0% | $400K-91.3% | $4.6M+2200.0% | $200K-50.0% | $400K+300.0% | $100K-96.2% | $2.6M |
SJM Financial Ratios
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 38.0%+2.6pp | 35.4%-1.9pp | 37.3%+14.9pp | 22.5%-15.9pp | 38.4%-1.8pp | 40.2%+1.2pp | 39.0%+1.5pp | 37.5% |
| Operating Margin | 19.6%+43.0pp | -23.4%-41.4pp | 18.0%+15.8pp | 2.2%+30.1pp | -28.0%-0.8pp | -27.2%-34.6pp | 7.5%-9.0pp | 16.4% |
| Net Margin | 17.1%+48.1pp | -31.0%-41.3pp | 10.4%+12.4pp | -2.1%+31.9pp | -34.0%-3.7pp | -30.3%-29.2pp | -1.1%-9.8pp | 8.7% |
| Return on Equity | 7.0%+20.8pp | -13.8%-17.8pp | 4.0%+4.7pp | -0.7%+11.2pp | -12.0%-2.4pp | -9.6%-9.3pp | -0.3%-2.7pp | 2.4% |
| Return on Assets | 2.4%+6.8pp | -4.5%-5.8pp | 1.4%+1.6pp | -0.3%+3.9pp | -4.2%-0.6pp | -3.6%-3.5pp | -0.1%-1.0pp | 0.9% |
| Current Ratio | 0.78-0.1 | 0.84-0.0 | 0.89+0.1 | 0.810.0 | 0.81+0.2 | 0.60+0.0 | 0.58+0.0 | 0.55 |
| Debt-to-Equity | 1.15-0.2 | 1.31+0.1 | 1.16-0.0 | 1.19+0.0 | 1.16+0.2 | 0.92+0.0 | 0.89+0.0 | 0.87 |
| FCF Margin | 21.3%+0.5pp | 20.8%+8.8pp | 12.0%+16.5pp | -4.5%-18.4pp | 13.9%+7.0pp | 6.9%-7.0pp | 14.0%+11.6pp | 2.3% |
Note: The current ratio is below 1.0 (0.78), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.
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Frequently Asked Questions
What is J M Smucker's annual revenue?
J M Smucker (SJM) reported $9.1B in total revenue for fiscal year 2026. This represents a 3.7% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is J M Smucker's revenue growing?
J M Smucker (SJM) revenue grew by 3.7% year-over-year, from $8.7B to $9.1B in fiscal year 2026.
Is J M Smucker profitable?
No, J M Smucker (SJM) reported a net income of -$138.7M in fiscal year 2026, with a net profit margin of -1.5%.
What is J M Smucker's EBITDA?
J M Smucker (SJM) had EBITDA of $920.7M in fiscal year 2026, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does J M Smucker have?
As of fiscal year 2026, J M Smucker (SJM) had $58.6M in cash and equivalents against $6.4B in long-term debt.
What is J M Smucker's gross margin?
J M Smucker (SJM) had a gross margin of 33.5% in fiscal year 2026, indicating the percentage of revenue retained after direct costs of goods sold.
What is J M Smucker's operating margin?
J M Smucker (SJM) had an operating margin of 4.0% in fiscal year 2026, reflecting the profitability of core business operations before interest and taxes.
What is J M Smucker's net profit margin?
J M Smucker (SJM) had a net profit margin of -1.5% in fiscal year 2026, representing the share of revenue converted into profit after all expenses.
Does J M Smucker pay dividends?
Yes, J M Smucker (SJM) paid $4.40 per share in dividends during fiscal year 2026.
What is J M Smucker's return on equity (ROE)?
J M Smucker (SJM) has a return on equity of -2.5% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.
What is J M Smucker's free cash flow?
J M Smucker (SJM) generated $1.2B in free cash flow during fiscal year 2026. This represents a 41.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is J M Smucker's operating cash flow?
J M Smucker (SJM) generated $1.5B in operating cash flow during fiscal year 2026, representing cash generated from core business activities.
What are J M Smucker's total assets?
J M Smucker (SJM) had $16.2B in total assets as of fiscal year 2026, including both current and long-term assets.
What are J M Smucker's capital expenditures?
J M Smucker (SJM) invested $317.4M in capital expenditures during fiscal year 2026, funding long-term assets and infrastructure.
How much does J M Smucker spend on research and development?
J M Smucker (SJM) invested $55.2M in research and development during fiscal year 2026.
What is J M Smucker's current ratio?
J M Smucker (SJM) had a current ratio of 0.78 as of fiscal year 2026, which is below 1.0, which may suggest potential liquidity concerns.
What is J M Smucker's debt-to-equity ratio?
J M Smucker (SJM) had a debt-to-equity ratio of 1.15 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is J M Smucker's return on assets (ROA)?
J M Smucker (SJM) had a return on assets of -0.9% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.
What is J M Smucker's Altman Z-Score?
J M Smucker (SJM) has an Altman Z-Score of 1.28, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is J M Smucker's Piotroski F-Score?
J M Smucker (SJM) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are J M Smucker's earnings high quality?
J M Smucker (SJM) has an earnings quality ratio of -10.62x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is J M Smucker?
J M Smucker (SJM) scores 35 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.