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The J.M. Smucker Company (SJM) stock

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NYSE: SJM NYSE Packaged Foods & Meats Next results ~November 24, 2026

B+ Fundamentals grade

The J.M. Smucker Company is a US-listed company in the packaged foods & meats industry. Its financial year ends in April.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$96

Cash-flow model

Base case. Range ~$56–$150 across our lower- and higher-growth cases (-1.1%–8.9% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 37% above our base value.

Price used: $131.35, November 2, 2026

The J.M. Smucker Company valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 5 selling1 purchase and 11 sales by directors and officers, last 12 monthsInsider trades
  • Funds484 adding, 326 cuttingOf 70 active managers that changed their stake, 43 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter The J.M. Smucker files

Where J.M. Smucker stands after its latest 10-Q

Revenue for the twelve months to July 2026 was $9.16bn, up 5.1% on a year earlier, faster than 3.7% a quarter earlier. Free-cash-flow margin rose to 17.3% from 7.7% a year earlier. Operating margin widened to 9.0% from -11.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 1 of our 6 financial-health checks. Our cash-flow model value is $109 a share, against a share price of $129. At that price, our model says the market is pricing in about 5.9% a year of cash-flow growth for five years, faster than the 2.7% a year revenue growth it has delivered.

Source: 10-Q filed August 26, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 24, 2026 (estimated)

The J.M. Smucker Company's trailing-twelve-month revenue grew 5.1% year on year, with a free-cash-flow margin of 17.3%. Where it stands out: free-cash-flow margin of 17.3% ranks 1 of 43 packaged foods & meats companies we cover.

Our discounted-cash-flow model values the business at ~$96 per share in the base case (~$56–$150 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 46% in the quarter to 2026-07-31, the 3rd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Margins widening. Operating margin is up 20.2 points on a year ago.

Things to watch

  • Priced above our value. The share price of $131.35 is 27% above our value per share of $96.
  • Below peers: long-term debt as % of assets. Long-term debt as % of assets of 39.5% ranks 28 of 35 packaged foods & meats companies we cover (median 18.5%).

Latest results: FY2027 Q1

Filed August 26, 2026
Earnings per share
$3.24 against an average estimate of $2.22: beat by 46.2%
Revenue
$2.22bn, up 5.0% on a year earlier
Share reaction
+5.1% in the first session after the results on August 26, 2026, against +0.7% for the S&P 500
Guidance given
net sales growth 1% to 2% (fiscal 2027); adjusted earnings per share $10.5 to $11 (fiscal 2027)
Next report
November 24, 2026; average EPS estimate $2.55

The J.M. Smucker's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+1.1%
  • 1 week+2.1%
  • 1 month+12.1%
  • This year+38.4%
  • 1 year+32.1%
  • 5 years+24.6%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$9.2B
Operating margin
9.0%
Net margin
2.5%

Growth

Revenue growth
+5.1%
Change in growth rate
+1.4 pts

Cash

Free cash flow (TTM)
$1.6B
FCF margin
17.3%
Stock pay % of revenue
0.3%

Earnings

Last results
August 26, 2026
Next results (est.)
November 26, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Dividend
  2. Announcement
  3. Insider trade
  4. Insider trade
  5. Results
  6. Guidance
  7. Announcement
  8. Shareholder vote
  9. Announcement
  10. Results
  11. Announcement
  12. Dividend

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

The J.M. Smucker Company valuation models and calculator

What the price is pricing in

The share price implies about 6.0% a year of cash-flow growth for five years.That is close to the 2.7% a year revenue growth The J.M. Smucker has delivered.

  • Priced in6.0%
  • Last 12 months5.1%
  • 3 years a year2.7%
  • 5 years a year2.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($127.14, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$96
Price used
$127.14close November 3, 2026
Implied change
▼ 24%
Uncertainty
High

How we got here: a discounted-cash-flow model of The J.M. Smucker Company's free cash flow after stock-based pay with after-tax interest added back ($973M, FY2027 Q1 TTM), growing -0.1% and 3% in the next two years (forecasts, guidance and its record), then back to 3.9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$56–~$150 ; that spread sets a 35% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of The J.M. Smucker Company's free cash flow after stock-based pay ( $973M, FY2027 Q1 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value The J.M. Smucker Company as an operating company, with every model that fits that kind of business. Cost of equity 7%: the 10-year Treasury yield (4.9%) plus a beta of 0.41 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$96 ~$56–$150 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$90 ~$94–$160 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$12 ~$3.5–$24 Left out: out of range vs price (0.09x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$94 ~$90–$96 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare The J.M. Smucker Company with Packaged Foods & Meats in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −32%
  • Revenue growth 5 points higher ▲ +42%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▲ more than doubles
  • Discount rate 1 point higher ▼ −19%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $68$115$177$259$366$505
8.5% $37$71$116$175$251$349
10% $19$45$80$124$183$257

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022
Share price$91.55$93.31$86.26$95.56$92.36$108.56$116.86
Market value$10.9bn$10.8bn$9.7bn$10.8bn$10.5bn$12.2bn$12.7bn
+ Net debt (− = net cash)$5.3bn$5.2bn$4.6bn$5.8bn$5.2bn$4.4bn$4.3bn
Enterprise value$16.2bn$16.0bn$14.4bn$16.6bn$15.7bn$16.6bn$17.0bn
Multiples
Price / sales 1.4x1.5x1.3x1.4x1.3x1.5x1.6x
Price / earnings 15.8x18.2x7.3x21.0x13.4x13.9x20.1x
Price / free cash flow 8.6x12.4x10.9x13.8x10.6x9.7x17.6x
EV / EBITDA 11.9x12.8x11.5x14.6x11.0x10.3x13.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

62 /100

Moderate moat

How hard The J.M. Smucker's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Cash operating profit has been a median 9.2% of total assets over 10 years.

  • Pricing power 13 / 20

    Gross margin has been a median 38.0%, moving by 2.0 percentage points (standard deviation) across 10 years.

  • Durability 3 / 20

    Operating margin has been a median 12.9%; its worst year was -11.2%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 10 of 10 years, at a median 10.7% of revenue.

  • Discipline 18 / 20

    The diluted share count fell 5.2% over five years; stock-based pay has been a median 0.3% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 24, 2026, before the open. Analysts expect revenue of $2.3bn and EPS of $2.55 (range $2.49 to $2.62) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $10.77 +18% $8.9bn −1%
Next $9.21 +2% $9.0bn +1%

Next year's EPS estimate has moved +3.1% in 90 days, across 7 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +7.7% on 90 days ago. In the last 30 days, 2 analysts raised The J.M. Smucker Company's forecast and 0 cut it.

Consensus EPS forecast The J.M. Smucker Company, last 90 days
$8.50 $9.00 $9.50 $10.00 $10.50 $11.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $10.00 Current fiscal year, 60 days ago: $10.04 Current fiscal year, 30 days ago: $10.69 Current fiscal year, 7 days ago: $10.77 Current fiscal year, Now: $10.77 $10.77 Next fiscal year, 90 days ago: $8.94 Next fiscal year, 60 days ago: $9.02 Next fiscal year, 30 days ago: $9.01 Next fiscal year, 7 days ago: $9.04 Next fiscal year, Now: $9.21 $9.21

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $10.00$8.94
60 days ago $10.04$9.02
30 days ago $10.69$9.01
7 days ago $10.77$9.04
Now $10.77$9.21

Earnings against estimates

Quarter toEstimateActualSurprise
Jul 2026 $2.22 $3.24 +46.2%
Apr 2026 $2.64 $2.77 +5.0%
Jan 2026 $2.26 $2.38 +5.2%
Oct 2025 $2.10 $2.10 0.0%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 26, 2026
  • Net sales fiscal 2027 1% growth to 2% growth Raised
    “Net sales is now expected to decrease 1.0 to 2.0 percent versus the prior year.” source
  • Adjusted earnings per share fiscal 2027 $10.50 to $11.00 Non-GAAP Raised
    “Adjusted earnings per share is now expected to range from $10.50 to $11.00.” source
  • adjusted gross profit margin fiscal 2027 about 38.75% Non-GAAP
    “This updated guidance reflects the decrease in net sales, adjusted gross profit margin of approximately 38.75 percent, which now includes approximately $115.0 million of tariff refunds received in the first quarter, an increase of SD&A expenses of approximately 8.0 percent versus the prior year, interest expense of approximately $335.0 million, an adjusted effective income tax rate of 24.2 percent, and 107.1 million weighted-average common shares outstanding.” source
  • Free cash flow fiscal 2027 about $1.1bn Non-GAAP Raised
    “Free cash flow is now expected to be $1.1 billion at the midpoint of our adjusted earnings per share guidance range, with capital expenditures of $325.0 million.” source
  • capital expenditures fiscal 2027 about $325m
    “Free cash flow is now expected to be $1.1 billion at the midpoint of our adjusted earnings per share guidance range, with capital expenditures of $325.0 million.” source
  • SD&A expenses increase fiscal 2027 about 8% growth
    “This updated guidance reflects the decrease in net sales, adjusted gross profit margin of approximately 38.75 percent, which now includes approximately $115.0 million of tariff refunds received in the first quarter, an increase of SD&A expenses of approximately 8.0 percent versus the prior year, interest expense of approximately $335.0 million, an adjusted effective income tax rate of 24.2 percent, and 107.1 million weighted-average common shares outstanding.” source
Show 3 more items
  • interest expense fiscal 2027 about $335m
    “This updated guidance reflects the decrease in net sales, adjusted gross profit margin of approximately 38.75 percent, which now includes approximately $115.0 million of tariff refunds received in the first quarter, an increase of SD&A expenses of approximately 8.0 percent versus the prior year, interest expense of approximately $335.0 million, an adjusted effective income tax rate of 24.2 percent, and 107.1 million weighted-average common shares outstanding.” source
  • adjusted effective income tax rate fiscal 2027 about 24.2% Non-GAAP
    “This updated guidance reflects the decrease in net sales, adjusted gross profit margin of approximately 38.75 percent, which now includes approximately $115.0 million of tariff refunds received in the first quarter, an increase of SD&A expenses of approximately 8.0 percent versus the prior year, interest expense of approximately $335.0 million, an adjusted effective income tax rate of 24.2 percent, and 107.1 million weighted-average common shares outstanding.” source
  • weighted-average common shares outstanding fiscal 2027 about 107m
    “This updated guidance reflects the decrease in net sales, adjusted gross profit margin of approximately 38.75 percent, which now includes approximately $115.0 million of tariff refunds received in the first quarter, an increase of SD&A expenses of approximately 8.0 percent versus the prior year, interest expense of approximately $335.0 million, an adjusted effective income tax rate of 24.2 percent, and 107.1 million weighted-average common shares outstanding.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows The J.M. Smucker Company's revenue by -0.1% next year and +3.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-2.1%, weight 56%) , management guidance (+0.6%, weight 19%) and the company's own record (+3.9%, weight 25%) . How the weights are set.

Analyst recommendations

19 analysts, Oct 2026
Buy1053%
Hold947%
Sell00%

Monthly trend

  1. Oct 202637919
  2. Sep 202637919
  3. Aug 202637919
  4. Jul 202637919

Counts of recommendations published by analysts covering The J.M. Smucker Company, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
3.9%
of tradable shares
Days to cover
3.37
at average volume
Short interest, 1 month
−13%
to October 15, 2026
Held by institutions
91%
of shares
Held by insiders
2.3%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +32.1%

$99.46 on October 31, 2025 to $131.35

ThenNowEffect
Revenue (last 12 months) $8.7bn $9.2bn +5.1%
P/S multiple 1.2x 1.5x +25.7%
Share count 107m 107m 0.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +30.1%

$101.00 on November 3, 2023 to $131.35

ThenNowEffect
Revenue (last 12 months) $8.5bn $9.2bn +8.2%
P/S multiple 1.3x 1.5x +20.2%
Share count 107m 107m 0.0%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
SJM+21%+20%−18%−10%−8%+38%
Industry peers (median)+8%−4%−4%−2%−19%−16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
SJM67%75%33%42%42%82%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
SJM−14%−16%−32%−18%−20%−23%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since October 29, 2015: 38% from January 6, 2023 to April 13, 2026. Getting back needed a 62% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$87.72 – $133.39
From 52-week high
−1.5%
vs 50-day average
+5.6%
vs 200-day average
+19.3%
Volatility (1 year)
29%
Beta vs S&P 500
-0.36

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±5.9%
After a week
9 up, 3 down
typical move ±5.2%
After a month
5 up, 7 down
typical move ±5.0%
Results releasedNext dayS&P 500 next day5 days21 days
August 26, 2026 +5.1% +0.7% +4.8% −3.5%
June 9, 2026 +15.0% −1.9% +14.0% +9.7%
February 26, 2026 +8.8% −1.0% +4.4% −10.7%
November 25, 2025 −1.0% +1.6% −3.7% −4.4%
August 27, 2025 −3.5% +0.6% +1.6% −1.2%
June 10, 2025 −14.3% +0.3% −15.5% −6.3%
February 27, 2025 +1.3% −0.1% +2.1% +6.6%
November 26, 2024 +3.9% +0.2% +1.6% −2.6%
August 28, 2024 −5.7% −0.6% +0.4% +0.4%
June 6, 2024 +4.2% −0.1% +0.6% −0.9%
February 27, 2024 −2.7% +0.1% −3.4% +0.4%
December 5, 2023 +4.7% −0.4% +10.9% +13.9%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How The J.M. Smucker Company’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.23× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

SJM The J.M. Smucker Company Grade B+ $130.77

Own 100 shares, sell the $140 call expiring December 18, 2026 (46 days) for $2.20 a share — $220 per contract.

Previous session · Bid $2.20, ask $2.95, quoted Mon 2 Nov, 17:36 New York time with SJM at $130.77. Option prices move with the shares: check the live chain at your broker before trading.

  • If SJM ends below $140: you keep your shares and the $220 — 1.7% extra on the position, 13.3% a year at that pace.
  • If it ends above $140: your shares are sold at $140, a total return of 8.7% including the premium — at or above our value of ~$96.
$1.1k $0 −$2.6k Break-even $128.57 Price $130.77 ← Our value ~$96
Profit or loss per contract at expiry, by share price (including the shares bought at today's price).
Premium
$220
Annualised
13.3%
Break-even
$128.57
Max gain
$1,143
Chance of selling
~31%

Results are expected around November 26, 2026, before this option expires: the share price can jump on results, and the premium partly reflects that.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

The J.M. Smucker Company in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) The J.M. Smucker Company
$8B $8.5B $9B $9.5B FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue (TTM), FY24 Q2: $8.2B Revenue (TTM), FY24 Q3: $8.2B Revenue (TTM), FY24 Q4: $8.2B Revenue (TTM), FY25 Q1: $8.5B Revenue (TTM), FY25 Q2: $8.8B Revenue (TTM), FY25 Q3: $8.8B Revenue (TTM), FY25 Q4: $8.7B Revenue (TTM), FY26 Q1: $8.7B Revenue (TTM), FY26 Q2: $8.8B Revenue (TTM), FY26 Q3: $8.9B Revenue (TTM), FY26 Q4: $9.1B Revenue (TTM), FY27 Q1: $9.2B $9.2B

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY24 Q2 $8.2B
FY24 Q3 $8.2B
FY24 Q4 $8.2B
FY25 Q1 $8.5B
FY25 Q2 $8.8B
FY25 Q3 $8.8B
FY25 Q4 $8.7B
FY26 Q1 $8.7B
FY26 Q2 $8.8B
FY26 Q3 $8.9B
FY26 Q4 $9.1B
FY27 Q1 $9.2B
Revenue growth, TTM YoY The J.M. Smucker Company
-5% 0% 5% 10% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Revenue growth, TTM YoY, FY24 Q2: 0.3% Revenue growth, TTM YoY, FY24 Q3: -1.4% Revenue growth, TTM YoY, FY24 Q4: -4.1% Revenue growth, TTM YoY, FY25 Q1: 0.4% Revenue growth, TTM YoY, FY25 Q2: 7.8% Revenue growth, TTM YoY, FY25 Q3: 7.1% Revenue growth, TTM YoY, FY25 Q4: 6.7% Revenue growth, TTM YoY, FY26 Q1: 2.5% Revenue growth, TTM YoY, FY26 Q2: -0.7% Revenue growth, TTM YoY, FY26 Q3: 1.6% Revenue growth, TTM YoY, FY26 Q4: 3.7% Revenue growth, TTM YoY, FY27 Q1: 5.1% 5.1%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY24 Q2 0.3%
FY24 Q3 -1.4%
FY24 Q4 -4.1%
FY25 Q1 0.4%
FY25 Q2 7.8%
FY25 Q3 7.1%
FY25 Q4 6.7%
FY26 Q1 2.5%
FY26 Q2 -0.7%
FY26 Q3 1.6%
FY26 Q4 3.7%
FY27 Q1 5.1%
Operating margin (TTM) The J.M. Smucker Company
-20% -10% 0% 10% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 Operating margin (TTM), FY24 Q2: 3.5% Operating margin (TTM), FY24 Q3: 3.2% Operating margin (TTM), FY24 Q4: 16.0% Operating margin (TTM), FY25 Q1: 15.9% Operating margin (TTM), FY25 Q2: 13.8% Operating margin (TTM), FY25 Q3: 3.8% Operating margin (TTM), FY25 Q4: -7.7% Operating margin (TTM), FY26 Q1: -11.2% Operating margin (TTM), FY26 Q2: -8.3% Operating margin (TTM), FY26 Q3: -7.7% Operating margin (TTM), FY26 Q4: 4.0% Operating margin (TTM), FY27 Q1: 9.0% 9.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY24 Q2 3.5%
FY24 Q3 3.2%
FY24 Q4 16.0%
FY25 Q1 15.9%
FY25 Q2 13.8%
FY25 Q3 3.8%
FY25 Q4 -7.7%
FY26 Q1 -11.2%
FY26 Q2 -8.3%
FY26 Q3 -7.7%
FY26 Q4 4.0%
FY27 Q1 9.0%
FCF margin (TTM) The J.M. Smucker Company
5% 10% 15% 20% FY24 Q2 FY25 Q1 FY25 Q4 FY27 Q1 FCF margin (TTM), FY24 Q2: 10.2% FCF margin (TTM), FY24 Q3: 7.8% FCF margin (TTM), FY24 Q4: 7.9% FCF margin (TTM), FY25 Q1: 7.3% FCF margin (TTM), FY25 Q2: 10.3% FCF margin (TTM), FY25 Q3: 9.3% FCF margin (TTM), FY25 Q4: 9.4% FCF margin (TTM), FY26 Q1: 7.7% FCF margin (TTM), FY26 Q2: 7.2% FCF margin (TTM), FY26 Q3: 10.9% FCF margin (TTM), FY26 Q4: 12.8% FCF margin (TTM), FY27 Q1: 17.3% 17.3%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY24 Q2 10.2%
FY24 Q3 7.8%
FY24 Q4 7.9%
FY25 Q1 7.3%
FY25 Q2 10.3%
FY25 Q3 9.3%
FY25 Q4 9.4%
FY26 Q1 7.7%
FY26 Q2 7.2%
FY26 Q3 10.9%
FY26 Q4 12.8%
FY27 Q1 17.3%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2010 Apr 2010 2011 Apr 2011 2012 Apr 2012 2013 Apr 2013 2014 Apr 2014 2015 Apr 2015 2016 Apr 2016 2017 Apr 2017 2018 Apr 2018 2019 Apr 2019 2020 Apr 2020 2021 Apr 2021 2022 Apr 2022 2023 Apr 2023 2024 Apr 2024 2025 Apr 2025 2026 Apr 2026 LTM Jul 2026
Income
Revenue 4,605 4,826 5,526 5,898 5,611 5,693 7,811 7,392 7,357 7,838 7,801 8,003 7,999 8,529 8,179 8,726 9,051 9,157
Gross profit 1,787 1,799 1,845 2,028 2,031 1,969 2,968 2,835 2,836 2,916 3,002 3,139 2,701 2,802 3,115 3,385 3,035 3,539
EBITDA 899 897 899 1,065 1,077 930 1,367 1,254 1,250 1,135 1,433 1,606 1,259 382 1,546 −391 707 1,157
Operating income 791 784 778 910 919 772 1,145 1,043 1,044 929 1,223 1,387 1,024 158 1,306 −674 360 826
Net income 494 480 460 544 565 345 689 592 1,339 514 780 876 632 −91 744 −1,231 −139 230
Diluted EPS $4.15 $4.05 $4.06 $5.00 $5.42 $3.33 $5.76 $5.10 $11.78 $4.52 $6.84 $7.79 $5.83 −$0.86 $7.13 −$11.57 −$1.30 —
Growth (year on year)
Revenue +22.5% +4.8% +14.5% +6.7% −4.9% +1.5% +37.2% −5.4% −0.5% +6.5% −0.5% +2.6% −0.0% +6.6% −4.1% +6.7% +3.7% +5.1%
EBITDA +69.1% −0.3% +0.2% +18.4% +1.1% −13.7% +47.1% −8.2% −0.3% −9.3% +26.3% +12.1% −21.6% −69.7% +305.0% −125.3% — —
Operating income +74.9% −0.8% −0.8% +17.0% +0.9% −16.0% +48.4% −9.0% +0.1% −11.1% +31.7% +13.4% −26.2% −84.6% — −151.6% — —
Net income +85.8% −3.0% −4.1% +18.4% +3.9% −39.0% +99.7% −14.0% +126.0% −61.6% +51.5% +12.4% −27.9% −114.5% — −265.4% — —
Diluted EPS +33.4% −2.4% +0.2% +23.2% +8.4% −38.6% +73.0% −11.5% +131.0% −61.6% +51.3% +13.9% −25.2% −114.8% — −262.3% — —
Margins
Gross margin 38.8% 37.3% 33.4% 34.4% 36.2% 34.6% 38.0% 38.4% 38.5% 37.2% 38.5% 39.2% 33.8% 32.8% 38.1% 38.8% 33.5% 38.7%
EBITDA margin 19.5% 18.6% 16.3% 18.0% 19.2% 16.3% 17.5% 17.0% 17.0% 14.5% 18.4% 20.1% 15.7% 4.5% 18.9% −4.5% 7.8% 12.6%
Operating margin 17.2% 16.3% 14.1% 15.4% 16.4% 13.6% 14.7% 14.1% 14.2% 11.8% 15.7% 17.3% 12.8% 1.8% 16.0% −7.7% 4.0% 9.0%
Net margin 10.7% 9.9% 8.3% 9.2% 10.1% 6.1% 8.8% 8.0% 18.2% 6.6% 10.0% 11.0% 7.9% −1.1% 9.1% −14.1% −1.5% 2.5%
Free-cash-flow margin 12.5% 4.4% 8.3% 11.0% 10.3% 8.6% 16.1% 11.7% 12.2% 10.0% 12.6% 15.7% 9.0% 8.4% 7.9% 9.4% 12.8% 17.3%
Cash flow
Cash from operations 713 392 731 856 856 739 1,461 1,059 1,218 1,141 1,255 1,565 1,136 1,194 1,229 1,210 1,474 1,910
Capital spending 137 180 274 207 280 248 201 192 322 360 269 307 418 477 587 394 317 322
Free cash flow 576 211 457 649 577 491 1,260 867 896 781 986 1,258 719 717 643 817 1,156 1,588
Stock-based pay 26 24 22 21 23 24 35 22 15 21 27 29 22 26 24 30 24 27
Free cash flow after stock pay 551 187 435 628 554 468 1,225 845 881 761 959 1,230 697 691 619 787 1,133 1,562
Balance sheet
Cash 284 320 230 256 154 126 110 167 193 101 391 334 170 656 62 70 59 43
Total debt 910 1,304 2,071 2,018 2,216 6,171 5,430 5,399 4,832 5,911 5,621 4,752 4,491 4,314 8,364 7,678 6,964 6,738
Net debt (negative = net cash) 626 984 1,841 1,761 2,063 6,045 5,320 5,232 4,639 5,810 5,230 4,417 4,321 3,658 8,302 7,608 6,905 6,695
Diluted shares 119m 118m 113m 109m 104m 103m 119m 116m 113m 113m 113m 112m 108m — — — — —
Returned to shareholders
Dividends 166 194 214 223 238 254 317 339 350 378 397 403 418 430 438 455 465 467
Buybacks 6 389 316 364 509 24 441 438 7 5 4 678 270 368 373 3 6 7
Total returned 172 583 530 587 747 278 758 777 357 383 401 1,082 689 798 810 459 470 474

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 6 checks passed · July 31, 2026
What it owns · $16.2bn
Short-term assets $2.0bnLonger-term assets $14.2bn
What it owes, and who funded it · $16.2bn
Short-term liabilities $2.3bnLonger-term liabilities $8.2bnShareholders' equity $5.8bn
  • Short-term assets cover short-term liabilities $2.0bn of assets due within a year against $2.3bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $2.0bn short-term assets against $8.2bn of longer-dated liabilities.
  • More cash than debt $43m of cash against $6.5bn of debt.
  • Debt below 40% of shareholders' equity Debt is 114% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 52% to 114% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.9bn of operating cash flow against $6.5bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From The J.M. Smucker Company's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2027 Q1 TTM
Buybacks (TTM)
$6.7M
Dividends (TTM)
$467M
Returned to shareholders
30%
of free cash flow
Buybacks, last 3 fiscal years
$382M
Total shareholder yield
3.4%
dividends 3.3% + buybacks 0.1% of market value
Dividend payout ratio
204%
of net income paid out
Sales & admin spending
16.7%
of revenue
Days sales outstanding
25 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in packaged foods & meats
Last 12 months unless stated SJM CPB POST SEB MKC CAG Median
Revenue, last 12 months $9.2bn $9.7bn $8.4bn $10.3bn $7.7bn $11.2bn $1.5bn
Revenue growth, last 12 months 5.1% −5.0% 6.2% 8.2% 13.2% −1.8% 2.1%
Revenue growth, 3-year average 2.7% 1.4% 8.3% −0.6% 5.2% −2.9% 1.5%
Revenue growth, latest quarter 5.0% −7.9% −1.8% 17.8% 17.4% −1.4% −1.8%
Gross margin 38.7% 28.1% 28.8% 8.1% 39.1% 23.8% 25.6%
Operating margin 9.0% 8.7% 9.6% 3.4% 13.4% −15.2% 3.1%
Operating margin, 3-year average 4.6% 10.0% 9.9% 2.8% 15.0% 0.8% 4.8%
Net margin 2.5% 4.1% 3.5% 6.2% 19.4% −17.0% 2.1%
Cash from operations / revenue 20.9% 10.7% 11.8% 4.6% 14.8% 11.4% 8.0%
Free-cash-flow margin 17.3% 6.4% 6.6% −0.2% 12.0% 7.8% 3.9%
Free-cash-flow margin, 3-year average 10.8% 6.2% 6.5% 0.0% 11.1% 10.0% 5.7%
Stock pay / revenue 0.3% 0.6% 1.0% — 0.6% 0.4% 0.6%
Change in share count −0.7% 0.0% −12.4% −1.3% −0.0% −0.1% 0.0%

Median of all 44 companies we cover in packaged foods & meats. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

44 packaged foods & meats companies
Measure Company Peer median Rank
Revenue growth Growth 5.1% 2.2% 16 of 44
Change in growth rate Growth +1.4pp -1.0pp 11 of 44
Gross margin Profitability 38.7% 25.6% 7 of 43
Operating margin Profitability 9.0% 3.4% 8 of 42
Net margin Profitability 2.5% 2.3% 21 of 44
Free-cash-flow margin Cash generation 17.3% 4.3% 1 of 43
Stock pay as % of revenue Cash generation 0.3% 0.6% 10 of 39
Long-term debt as % of assets Balance sheet 39.5% 18.5% 28 of 35
Days sales outstanding Balance sheet 25 days 33 days 10 of 35

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to April 30, 2026
Geography
Region Revenue Share YoY
United States $8.6B 94.7% ▲ 3.9%
International $483M 5.3% ▲ 0.5%
Canada $341M 70.6% ▼ 3.3%
All Other International $142M 29.4% ▲ 10.9%

From The J.M. Smucker Company's 10-K filed June 9, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$10.5B
Institutions reporting
882
Shares held vs prior quarter
▼ 2.6%
Positions opened / closed
134 / 72

Top buyers and sellers, Q2 2026: 484 institutions bought and 326 sold ; the biggest buyer was Rwc Asset Management LLP (+1.6M shares) and the biggest seller UBS Group AG (−5.4M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $831M 7.4M 7.9% ▲ 9.9%
Vanguard Capital Management LLC $764M 6.8M 7.3% ▲ 0.7%
State Street Corp $739M 6.6M 7.0% ▲ 1.2%
Vanguard Portfolio Management LLC $555M 4.9M 5.3% ▲ 1.1%
Dimensional Fund Advisors LP $517M 4.6M 4.9% ▲ 17.1%
Geode Capital Management, LLC $327M 2.9M 3.1% ▲ 2.4%
Hotchkis & Wiley Capital Management LLC $314M 2.8M 3.0% ▲ 27.6%
Citadel Advisors LLC $303M 2.7M 2.9% ▲ 39.1%
Invesco Ltd. $265M 2.4M 2.5% ▲ 1.3%
Goldman Sachs Group Inc $245M 2.2M 2.3% ▲ 65.1%
FMR LLC $216M 1.9M 2.1% ▼ 12.4%
Morgan Stanley $212M 1.9M 2.0% ▼ 13.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not The J.M. Smucker Company's complete shareholder register. Values are as reported by the filers ; 5 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $99,801 1 trade by 1 insider, last 12 months Insider sales History → $17.6M 11 trades by 5 insiders · 0% under pre-set plans
Net ▼ $17.5M net selling
Insider Date Trade Shares Price Value
Smucker Mark T CEO, Chair of Board August 31, 2026 Sell 84,821 $131.39 $11.1M
Ferguson Robert D Chief Product Supply Officer August 31, 2026 Sell 2,522 $132.41 $333,938
Marshall Tucker H Chief Financial Officer August 28, 2026 Sell 11,093 $131.91 $1.5M
Marshall Tucker H Chief Financial Officer August 28, 2026 Sell 7,389 $132.26 $977,269
Penrose Jill R Chief People Officer June 29, 2026 Sell 5,000 $116.69 $583,475
Knudsen Jeannette L Chief Legal Officer June 26, 2026 Sell 4,353 $115.08 $500,943
Marshall Tucker H Chief Financial Officer June 24, 2026 Sell 3,630 $111.05 $403,112
Smucker Mark T CEO, Chair of Board June 17, 2026 Sell 13,000 $115.11 $1.5M
Knudsen Jeannette L Chief Legal Officer June 11, 2026 Sell 5,550 $116.29 $645,410
Smucker Mark T CEO, Chair of Board March 10, 2026 Sell 231 $108.86 $25,183
Smucker Mark T CEO, Chair of Board March 10, 2026 Sell 231 $108.97 $25,208
Amin Tarang Director March 2, 2026 Buy 880 $113.41 $99,801

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Trades by members of Congress

All 37 trades and filings

No trades in The J.M. Smucker Company disclosed in the last 12 months; 37 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 31, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded October 30, 2025, filed November 21, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around November 26, 2026 estimated from the company's past filing pattern, not announced

  • August 26, 2026
  • June 9, 2026
  • February 26, 2026
  • November 25, 2025
  • August 27, 2025
  • June 10, 2025

Recent SEC filings

Data status

When each part of this page on The J.M. Smucker Company was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

The J.M. Smucker Company in brief

What does The J.M. Smucker Company do?
The J.M. Smucker Company is a US-listed company in the packaged foods & meats industry. Its financial year ends in April.
What is The J.M. Smucker Company's stock ticker?
The J.M. Smucker Company trades under the ticker SJM on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is The J.M. Smucker Company's revenue, and how fast is it growing?
Over its most recent trailing twelve months, The J.M. Smucker Company reported revenue of $9.2B, 5.1% higher than a year earlier, according to its SEC filings.
What is The J.M. Smucker Company's free cash flow?
The J.M. Smucker Company's free-cash-flow margin is 17.3% of revenue over the trailing twelve months, ranking 1 of the 43 packaged foods & meats companies we cover.
What is The J.M. Smucker Company's fair value (intrinsic value) per share?
Our discounted-cash-flow model of The J.M. Smucker Company's free cash flow after stock-based pay gives ~$96 per share in the base case, and ~$56–$150 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are The J.M. Smucker Company's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Capital Management LLC and State Street Corp. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is The J.M. Smucker Company's market cap?
On April 29, 2022, The J.M. Smucker Company's market capitalisation was about $12.7B, with a price-to-earnings ratio of 20.1 and net debt of $4.3B. Market figures come from third-party market data and may be delayed.
Does The J.M. Smucker Company pay a dividend?
Yes: The J.M. Smucker Company paid $467M in dividends over the trailing twelve months, a dividend yield of 3.33% and a payout ratio of 203.5%.
How much debt does The J.M. Smucker Company have?
The J.M. Smucker Company's debt-to-equity ratio is 113.8%, from its latest balance sheet (52.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are The J.M. Smucker Company's competitors?
In our Packaged Foods & Meats peer group, the companies closest to The J.M. Smucker Company are Campbell's Co, Post Holdings, Inc., Seaboard Corp, McCormick & Company and Conagra Brands Inc. The side-by-side comparison below sets their revenue, margins and growth against The J.M. Smucker Company's.
Are insiders buying or selling The J.M. Smucker Company stock?
Over the last 12 months, The J.M. Smucker Company's directors and officers reported 1 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is The J.M. Smucker Company's next earnings date?
Around November 24, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — The J.M. Smucker Company announces its own schedule.