The Marzetti Company Financials
This page shows The Marzetti Company (MZTI) 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).
Margin recovery and cash conversion turned slow sales growth into a business that increasingly funds itself from operations.
Between FY2022 and FY2025, revenue grew only13.9% , while operating margin widened from6.7% to11.5% . At the same time, free cash flow moved from-$30.2M to$203.5M , showing the recovery came from a repaired cost structure and better cash generation, not just more sales.
In FY2025, operating cash flow of
The balance sheet still looks conservatively financed for a business that carries inventory: the current ratio stayed around 2.4x and debt to equity eased to 0.3x in FY2025. Because dividends of
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of The Marzetti Company'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.
The Marzetti Company has an operating margin of 11.5%, meaning the company retains $12 of operating profit per $100 of revenue. This strong profitability earns a score of 72/100, reflecting efficient cost management and pricing power. This is up from 10.7% the prior year.
The Marzetti Company's revenue grew a modest 2.0% year-over-year to $1.9B. This slow but positive growth earns a score of 40/100.
The Marzetti Company carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 94/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.38, The Marzetti Company holds $2.38 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 66/100.
The Marzetti Company converts 10.7% of revenue into free cash flow ($203.5M). This strong cash generation earns a score of 67/100.
The Marzetti Company earns a strong 16.8% return on equity (ROE), meaning it generates $17 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 86/100. This is down from 17.1% the prior year.
The Marzetti Company scores 10.78, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($3.1B) relative to total liabilities ($276.2M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
The Marzetti Company passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, The Marzetti Company generates $1.56 in operating cash flow ($261.5M OCF vs $167.3M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Key Financial Metrics
Earnings & Revenue
The Marzetti Company generated $1.9B in revenue in fiscal year 2025. This represents an increase of 2.0% from the prior year.
The Marzetti Company's EBITDA was $282.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 10.7% from the prior year.
The Marzetti Company reported $167.3M in net income in fiscal year 2025. This represents an increase of 5.5% from the prior year.
The Marzetti Company earned $6.07 per diluted share (EPS) in fiscal year 2025. This represents an increase of 5.4% from the prior year.
Cash & Balance Sheet
The Marzetti Company generated $203.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 10.6% from the prior year.
The Marzetti Company held $161.5M in cash against $0 in long-term debt as of fiscal year 2025.
The Marzetti Company paid $3.75 per share in dividends in fiscal year 2025. This represents an increase of 5.6% from the prior year.
The Marzetti Company had 28M shares outstanding in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Margins & Returns
The Marzetti Company's gross margin was 23.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.8 percentage points from the prior year.
The Marzetti Company's operating margin was 11.5% in fiscal year 2025, reflecting core business profitability. This is up 0.9 percentage points from the prior year.
The Marzetti Company's net profit margin was 8.8% in fiscal year 2025, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.
The Marzetti Company's ROE was 16.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 0.4 percentage points from the prior year.
Capital Allocation
The Marzetti Company spent $8.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 4.6% from the prior year.
The Marzetti Company invested $58.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 14.2% from the prior year.
MZTI Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $453.4M-12.5% | $518.0M+5.0% | $493.5M+3.8% | $475.4M+3.8% | $457.8M-10.1% | $509.3M+9.2% | $466.6M+3.0% | $452.8M |
| Cost of Revenue | $346.2M-9.1% | $380.7M+1.6% | $374.7M+1.4% | $369.3M+5.0% | $351.9M-6.5% | $376.5M+5.8% | $355.7M+0.1% | $355.2M |
| Gross Profit | $107.2M-21.9% | $137.3M+15.5% | $118.8M+12.0% | $106.1M+0.1% | $106.0M-20.2% | $132.8M+19.8% | $110.8M+13.5% | $97.6M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $61.4M+1.7% | $60.4M+3.4% | $58.4M-5.9% | $62.1M+10.7% | $56.1M-1.8% | $57.1M+3.9% | $55.0M+3.3% | $53.2M |
| Operating Income | $46.6M-38.0% | $75.2M+26.9% | $59.3M+52.3% | $38.9M-22.0% | $49.9M-34.1% | $75.7M+35.4% | $55.9M+34.0% | $41.7M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $11.3M-34.8% | $17.3M+26.9% | $13.6M+70.5% | $8.0M-25.5% | $10.7M-24.8% | $14.2M+8.0% | $13.2M+46.8% | $9.0M |
| Net Income | $37.1M-37.3% | $59.1M+25.2% | $47.2M+45.0% | $32.5M-20.9% | $41.1M-16.1% | $49.0M+9.6% | $44.7M+28.3% | $34.8M |
| EPS (Diluted) | $1.35-37.2% | $2.15+25.7% | $1.71 | N/A | $1.49-16.3% | $1.78+9.9% | $1.62 | N/A |
MZTI Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.4B+2.0% | $1.3B-0.7% | $1.3B+5.0% | $1.3B-0.1% | $1.3B+3.0% | $1.2B+1.9% | $1.2B+0.8% | $1.2B |
| Current Assets | $513.9M+4.6% | $491.4M-1.6% | $499.3M+12.6% | $443.6M+0.9% | $439.7M-8.6% | $481.0M+6.3% | $452.6M+1.9% | $444.0M |
| Cash & Equivalents | $218.4M+8.4% | $201.6M+10.7% | $182.2M+12.8% | $161.5M+29.6% | $124.6M-38.7% | $203.1M+50.4% | $135.1M-17.4% | $163.4M |
| Inventory | $175.3M+7.8% | $162.6M-6.6% | $174.0M+2.8% | $169.3M-11.4% | $191.1M+14.3% | $167.2M-13.7% | $193.7M+11.8% | $173.3M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $222.8M0.0% | $222.8M0.0% | $222.8M0.0% | $222.8M-0.3% | $223.5M+7.2% | $208.4M0.0% | $208.4M0.0% | $208.4M |
| Total Liabilities | $311.3M+5.1% | $296.0M-7.4% | $319.7M+15.7% | $276.2M-1.5% | $280.4M+7.8% | $260.0M-4.1% | $271.2M-3.6% | $281.2M |
| Current Liabilities | $198.9M+10.1% | $180.7M-10.3% | $201.5M+8.1% | $186.3M0.0% | $186.4M+11.4% | $167.3M-3.4% | $173.2M-5.9% | $184.0M |
| Long-Term Debt | $0 | N/A | N/A | $0 | N/A | N/A | N/A | N/A |
| Total Equity | $1.0B+1.2% | $1.0B+1.4% | $1.0B+2.0% | $998.5M+0.2% | $996.2M+1.7% | $979.9M+3.7% | $945.1M+2.1% | $925.8M |
| Retained Earnings | $1.7B+0.6% | $1.7B+1.9% | $1.6B+1.3% | $1.6B+0.4% | $1.6B+0.9% | $1.6B+1.4% | $1.6B+1.3% | $1.6B |
MZTI Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $70.5M-20.4% | $88.6M+27.5% | $69.5M-21.2% | $88.2M+92.5% | $45.8M-57.4% | $107.6M+441.0% | $19.9M-41.7% | $34.1M |
| Capital Expenditures | $21.3M+20.4% | $17.7M+13.1% | $15.6M+9.4% | $14.3M-5.1% | $15.1M+36.6% | $11.0M-37.5% | $17.6M+13.3% | $15.6M |
| Free Cash Flow | $49.3M-30.6% | $70.9M+31.7% | $53.9M-27.1% | $73.9M+140.3% | $30.8M-68.2% | $96.6M+4179.7% | $2.3M-87.8% | $18.5M |
| Investing Cash Flow | -$24.7M-17.7% | -$21.0M-11.6% | -$18.8M-4.8% | -$18.0M+81.6% | -$97.5M-662.8% | -$12.8M+35.8% | -$19.9M-97.7% | -$10.1M |
| Financing Cash Flow | -$29.0M+39.9% | -$48.2M-60.5% | -$30.0M+9.9% | -$33.3M-24.4% | -$26.8M+0.2% | -$26.8M+5.5% | -$28.4M-11.9% | -$25.3M |
| Dividends Paid | $27.5M-0.4% | $27.6M+4.8% | $26.3M+0.5% | $26.2M+0.1% | $26.2M-0.3% | $26.3M+5.6% | $24.9M+0.2% | $24.8M |
| Share Buybacks | $16K-99.9% | $20.1M+1663.6% | $1.1M-82.4% | $6.5M+8418.4% | $76K+2433.3% | $3K-99.8% | $1.4M+5900.0% | $24K |
MZTI Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.6%-2.9pp | 26.5%+2.4pp | 24.1%+1.8pp | 22.3%-0.8pp | 23.1%-2.9pp | 26.1%+2.3pp | 23.8%+2.2pp | 21.6% |
| Operating Margin | 10.3%-4.3pp | 14.5%+2.5pp | 12.0%+3.8pp | 8.2%-2.7pp | 10.9%-4.0pp | 14.9%+2.9pp | 12.0%+2.8pp | 9.2% |
| Net Margin | 8.2%-3.2pp | 11.4%+1.8pp | 9.6%+2.7pp | 6.8%-2.1pp | 9.0%-0.6pp | 9.6%+0.0pp | 9.6%+1.9pp | 7.7% |
| Return on Equity | 3.5%-2.2pp | 5.7%+1.1pp | 4.6%+1.4pp | 3.3%-0.9pp | 4.1%-0.9pp | 5.0%+0.3pp | 4.7%+1.0pp | 3.8% |
| Return on Assets | 2.7%-1.7pp | 4.5%+0.9pp | 3.5%+1.0pp | 2.5%-0.7pp | 3.2%-0.7pp | 4.0%+0.3pp | 3.7%+0.8pp | 2.9% |
| Current Ratio | 2.58-0.1 | 2.72+0.2 | 2.48+0.1 | 2.38+0.0 | 2.36-0.5 | 2.88+0.3 | 2.61+0.2 | 2.41 |
| Debt-to-Equity | 0.00-0.3 | 0.29-0.0 | 0.31+0.3 | 0.00-0.3 | 0.28+0.0 | 0.27-0.0 | 0.29-0.0 | 0.30 |
| FCF Margin | 10.9%-2.8pp | 13.7%+2.8pp | 10.9%-4.6pp | 15.5%+8.8pp | 6.7%-12.3pp | 19.0%+18.5pp | 0.5%-3.6pp | 4.1% |
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Frequently Asked Questions
What is The Marzetti Company's annual revenue?
The Marzetti Company (MZTI) reported $1.9B in total revenue for fiscal year 2025. This represents a 2.0% 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 The Marzetti Company's revenue growing?
The Marzetti Company (MZTI) revenue grew by 2% year-over-year, from $1.9B to $1.9B in fiscal year 2025.
Is The Marzetti Company profitable?
Yes, The Marzetti Company (MZTI) reported a net income of $167.3M in fiscal year 2025, with a net profit margin of 8.8%.
What is The Marzetti Company's EBITDA?
The Marzetti Company (MZTI) had EBITDA of $282.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does The Marzetti Company have?
As of fiscal year 2025, The Marzetti Company (MZTI) had $161.5M in cash and equivalents against $0 in long-term debt.
What is The Marzetti Company's gross margin?
The Marzetti Company (MZTI) had a gross margin of 23.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is The Marzetti Company's operating margin?
The Marzetti Company (MZTI) had an operating margin of 11.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is The Marzetti Company's net profit margin?
The Marzetti Company (MZTI) had a net profit margin of 8.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does The Marzetti Company pay dividends?
Yes, The Marzetti Company (MZTI) paid $3.75 per share in dividends during fiscal year 2025.
What is The Marzetti Company's return on equity (ROE)?
The Marzetti Company (MZTI) has a return on equity of 16.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is The Marzetti Company's free cash flow?
The Marzetti Company (MZTI) generated $203.5M in free cash flow during fiscal year 2025. This represents a 10.6% 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 The Marzetti Company's operating cash flow?
The Marzetti Company (MZTI) generated $261.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are The Marzetti Company's total assets?
The Marzetti Company (MZTI) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are The Marzetti Company's capital expenditures?
The Marzetti Company (MZTI) invested $58.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is The Marzetti Company's current ratio?
The Marzetti Company (MZTI) had a current ratio of 2.38 as of fiscal year 2025, which is generally considered healthy.
What is The Marzetti Company's debt-to-equity ratio?
The Marzetti Company (MZTI) had a debt-to-equity ratio of 0.00 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is The Marzetti Company's return on assets (ROA)?
The Marzetti Company (MZTI) had a return on assets of 13.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is The Marzetti Company's Altman Z-Score?
The Marzetti Company (MZTI) has an Altman Z-Score of 10.78, placing it in the Safe Zone (low 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 The Marzetti Company's Piotroski F-Score?
The Marzetti Company (MZTI) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 The Marzetti Company's earnings high quality?
The Marzetti Company (MZTI) has an earnings quality ratio of 1.56x, considered cash-backed (high 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 The Marzetti Company?
The Marzetti Company (MZTI) scores 71 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.