J M Smucker Financials

SJM

Source SEC Filings (10-K/10-Q) Updated Oct 31, 2025 Currency USD FYE April

Financial Health Signals

Financial Profile 35/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

J M Smucker has an operating margin of -7.7%, meaning the company retains $-8 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from 16.0% the prior year.

Growth

J M Smucker's revenue grew 6.7% year-over-year to $8.7B, a solid pace of expansion. This earns a growth score of 48/100.

Leverage

J M Smucker carries a low D/E ratio of 1.19, meaning only $1.19 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 67/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

J M Smucker's current ratio of 0.81 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 13/100, which could limit financial flexibility.

Cash Flow

J M Smucker has a free cash flow margin of 9.4%, earning a moderate score of 47/100. The company generates positive cash flow after capital investments, but with room for improvement.

Piotroski F-Score Neutral

5/9

J M Smucker passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Mixed

-0.98x

For every $1 of reported earnings, J M Smucker generates $-0.98 in operating cash flow ($1.2B OCF vs -$1.2B net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

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).

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Key Financial Metrics

Revenue

$8.7B

YoY+6.7%

5Y CAGR+2.3%

10Y CAGR+4.4%

J M Smucker generated $8.7B in revenue in fiscal year 2025. This represents an increase of 6.7% from the prior year.

EBITDA

-$167.9M

YoY-109.6%

J M Smucker's EBITDA was -$167.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 109.6% from the prior year.

Free Cash Flow

$816.6M

YoY+27.0%

5Y CAGR-3.7%

10Y CAGR+5.2%

J M Smucker generated $816.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 27.0% from the prior year.

Net Income

-$1.2B

YoY-265.4%

J M Smucker reported -$1.2B in net income in fiscal year 2025. This represents a decrease of 265.4% from the prior year.

EPS (Diluted)

$-11.57

YoY-262.3%

J M Smucker earned $-11.57 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 262.3% from the prior year.

Cash & Debt

$39.3M

YoY-0.5%

5Y CAGR-37.0%

10Y CAGR-11.5%

J M Smucker held $39.3M in cash against $7.0B in long-term debt as of fiscal year 2025.

Dividends Per Share

$4.32

YoY+1.9%

5Y CAGR+4.2%

10Y CAGR+5.4%

J M Smucker paid $4.32 per share in dividends in fiscal year 2025. This represents an increase of 1.9% from the prior year.

Shares Outstanding

107M

YoY+0.3%

5Y CAGR-1.4%

10Y CAGR-1.2%

J M Smucker had 107M shares outstanding in fiscal year 2025. This represents an increase of 0.3% from the prior year.

Gross Margin

38.8%

YoY+0.7pp

5Y CAGR+0.3pp

10Y CAGR+4.2pp

J M Smucker's gross margin was 38.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.7 percentage points from the prior year.

Operating Margin

-7.7%

YoY-23.7pp

5Y CAGR-23.4pp

10Y CAGR-21.3pp

J M Smucker's operating margin was -7.7% in fiscal year 2025, reflecting core business profitability. This is down 23.7 percentage points from the prior year.

Net Margin

-14.1%

YoY-23.2pp

5Y CAGR-24.1pp

10Y CAGR-20.2pp

J M Smucker's net profit margin was -14.1% in fiscal year 2025, showing the share of revenue converted to profit. This is down 23.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

$3.3M

YoY-99.1%

5Y CAGR-4.7%

10Y CAGR-18.1%

J M Smucker spent $3.3M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 99.1% from the prior year.

Capital Expenditures

$393.8M

YoY-32.9%

5Y CAGR+7.9%

10Y CAGR+4.7%

J M Smucker invested $393.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 32.9% from the prior year.

SJM Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$8.7B+6.7%	$8.2B-4.1%	$8.5B+6.6%	$8.0B0.0%	$8.0B+2.6%	$7.8B
Cost of Revenue	$5.3B+5.5%	$5.1B-11.6%	$5.7B+8.1%	$5.3B+8.9%	$4.9B+1.4%	$4.8B
Gross Profit	$3.4B+8.6%	$3.1B+11.2%	$2.8B+3.7%	$2.7B-14.0%	$3.1B+4.6%	$3.0B
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$1.5B+5.7%	$1.4B-0.6%	$1.5B+7.0%	$1.4B-10.7%	$1.5B+3.3%	$1.5B
Operating Income	-$673.9M-151.6%	$1.3B+729.1%	$157.5M-84.6%	$1.0B-26.2%	$1.4B+13.4%	$1.2B
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$184.0M-27.1%	$252.4M+207.4%	$82.1M-61.3%	$212.1M-28.2%	$295.6M+19.6%	$247.2M
Net Income	-$1.2B-265.4%	$744.0M+914.9%	-$91.3M-114.5%	$631.7M-27.9%	$876.3M+12.4%	$779.5M
EPS (Diluted)	$-11.57-262.3%	$7.13+929.1%	$-0.86-114.8%	$5.83-25.2%	$7.79+13.9%	$6.84

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Revenue	$2.3B+10.3%	$2.1B-3.3%	$2.2B-3.8%	$2.3B+6.9%	$2.1B-4.7%	$2.2B+15.0%	$1.9B+7.4%	$1.8B
Cost of Revenue	$1.5B-10.9%	$1.6B+25.3%	$1.3B-5.6%	$1.4B+4.3%	$1.3B-5.6%	$1.4B+15.8%	$1.2B+5.6%	$1.2B
Gross Profit	$869.9M+83.3%	$474.7M-45.9%	$878.1M-0.9%	$886.1M+11.2%	$797.2M-3.1%	$823.1M+13.7%	$724.2M+10.6%	$654.8M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$398.2M+5.5%	$377.4M+2.7%	$367.6M-5.9%	$390.7M+0.2%	$390.1M+4.2%	$374.2M+12.2%	$333.5M+6.3%	$313.6M
Operating Income	$418.5M+817.8%	$45.6M+107.7%	-$594.0M-450.0%	$169.7M-51.4%	$349.5M+17.5%	$297.4M-0.5%	$298.9M-1.5%	$303.5M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$77.1M+711.9%	-$12.6M-6200.0%	-$200K-100.2%	$91.3M+49.7%	$61.0M-18.8%	$75.1M+37.8%	$54.5M-0.5%	$54.8M
Net Income	$241.3M+649.7%	-$43.9M+93.4%	-$662.3M-2603.3%	-$24.5M-113.2%	$185.0M+53.7%	$120.4M-38.2%	$194.9M+6.2%	$183.6M
EPS (Diluted)	$2.26+651.2%	$-0.41+93.4%	$-6.22-2604.3%	$-0.23-113.2%	$1.74+54.0%	$1.13-40.5%	$1.90+6.1%	$1.79

SJM Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$17.7B-12.8%	$20.3B+38.3%	$14.7B-9.6%	$16.3B+0.4%	$16.2B-4.1%	$16.9B
Current Assets	$2.4B+15.4%	$2.1B-16.6%	$2.5B+9.1%	$2.3B+17.1%	$2.0B-1.6%	$2.0B
Cash & Equivalents	$39.3M-0.5%	$39.5M-83.6%	$241.1M+59.0%	$151.6M-10.2%	$168.8M-57.4%	$396.6M
Inventory	$1.4B+21.8%	$1.1B+4.1%	$1.1B-16.7%	$1.3B+18.8%	$1.1B+11.1%	$995.0M
Accounts Receivable	$643.2M-12.5%	$734.9M+24.1%	$592.4M-2.1%	$605.0M+6.9%	$566.0M+13.7%	$497.6M
Goodwill	$5.7B-25.4%	$7.6B+46.5%	$5.2B-13.2%	$6.0B-0.1%	$6.0B-4.6%	$6.3B
Total Liabilities	$11.8B-6.1%	$12.6B+63.2%	$7.7B-5.2%	$8.1B+1.1%	$8.0B-6.0%	$8.6B
Current Liabilities	$3.0B-21.5%	$3.8B+93.3%	$1.9B-10.6%	$2.2B-21.2%	$2.8B+33.3%	$2.1B
Long-Term Debt	$7.0B+3.9%	$6.8B+57.0%	$4.3B+0.1%	$4.3B+22.6%	$3.5B-24.7%	$4.7B
Total Equity	$5.9B-23.7%	$7.8B+10.9%	$7.0B-14.0%	$8.1B-0.3%	$8.2B-2.1%	$8.3B
Retained Earnings	$343.5M-84.8%	$2.3B+15.0%	$2.0B-32.1%	$2.9B0.0%	$2.9B+0.4%	$2.9B

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Total Assets	$17.6B-0.6%	$17.7B-3.7%	$18.4B-8.0%	$20.0B-1.6%	$20.3B+0.5%	$20.2B+11.7%	$18.1B+23.2%	$14.7B
Current Assets	$2.3B-3.2%	$2.4B+21.6%	$2.0B-3.9%	$2.1B-1.2%	$2.1B+8.2%	$1.9B-67.2%	$5.9B+134.9%	$2.5B
Cash & Equivalents	$62.8M+59.8%	$39.3M-16.7%	$47.2M-4.1%	$49.2M+24.6%	$39.5M+10.0%	$35.9M-99.0%	$3.6B+1403.1%	$241.1M
Inventory	$1.4B-2.3%	$1.4B+27.6%	$1.1B+0.2%	$1.1B-4.7%	$1.1B+15.2%	$987.6M-9.0%	$1.1B-0.8%	$1.1B
Accounts Receivable	$675.2M+5.0%	$643.2M-1.7%	$654.3M-18.7%	$804.6M+9.5%	$734.9M-6.9%	$789.6M+34.3%	$587.9M-0.8%	$592.4M
Goodwill	$5.7B0.0%	$5.7B-13.1%	$6.6B-11.2%	$7.4B-3.3%	$7.6B-0.2%	$7.7B+47.1%	$5.2B-0.2%	$5.2B
Total Liabilities	$11.6B-2.1%	$11.8B+2.6%	$11.5B-7.0%	$12.4B-1.5%	$12.6B-0.9%	$12.7B+15.0%	$11.0B+43.2%	$7.7B
Current Liabilities	$2.6B-11.1%	$3.0B-10.2%	$3.3B-7.7%	$3.6B-5.3%	$3.8B+52.5%	$2.5B+34.5%	$1.8B-5.8%	$1.9B
Long-Term Debt	$7.0B0.0%	$7.0B+10.2%	$6.4B-5.8%	$6.8B0.0%	$6.8B-16.6%	$8.1B+4.5%	$7.8B+80.1%	$4.3B
Total Equity	$6.1B+2.3%	$5.9B-14.2%	$6.9B-9.5%	$7.6B-1.8%	$7.8B+2.8%	$7.6B+6.6%	$7.1B+1.2%	$7.0B
Retained Earnings	$468.2M+36.3%	$343.5M-74.5%	$1.3B-36.6%	$2.1B-6.1%	$2.3B+10.0%	$2.1B+0.2%	$2.1B+4.4%	$2.0B

SJM Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$1.2B-1.5%	$1.2B+2.9%	$1.2B+5.1%	$1.1B-27.4%	$1.6B+24.7%	$1.3B
Capital Expenditures	$393.8M-32.9%	$586.5M+22.9%	$477.4M+14.3%	$417.5M+36.1%	$306.7M+13.9%	$269.3M
Free Cash Flow	$816.6M+27.0%	$642.9M-10.3%	$717.0M-0.3%	$718.8M-42.9%	$1.3B+27.7%	$985.5M
Investing Cash Flow	-$100.3M+97.5%	-$4.0B-1647.5%	$256.2M+172.1%	-$355.5M-214.3%	$311.1M+214.6%	-$271.5M
Financing Cash Flow	-$1.1B-151.5%	$2.1B+322.0%	-$964.6M-2.1%	-$944.5M+51.4%	-$1.9B-182.3%	-$688.7M
Dividends Paid	$455.4M+4.1%	$437.5M+1.7%	$430.2M+2.9%	$418.1M+3.7%	$403.2M+1.6%	$396.8M
Share Buybacks	$3.3M-99.1%	$372.8M+1.4%	$367.5M+35.9%	$270.4M-60.1%	$678.4M+16052.4%	$4.2M

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Operating Cash Flow	$346.5M+3368.9%	-$10.6M-104.4%	$239.4M-40.8%	$404.2M+133.8%	$172.9M-57.5%	$406.5M+129.8%	$176.9M-18.8%	$217.9M
Capital Expenditures	$66.3M-21.4%	$84.3M-4.3%	$88.1M+1.3%	$87.0M-29.7%	$123.7M-21.2%	$156.9M+5.5%	$148.7M-1.1%	$150.3M
Free Cash Flow	$280.2M+395.3%	-$94.9M-162.7%	$151.3M-52.3%	$317.2M+544.7%	$49.2M-80.3%	$249.6M+785.1%	$28.2M-58.3%	$67.6M
Investing Cash Flow	$7.9M+104.0%	-$197.9M-195.5%	$207.2M+488.7%	-$53.3M+69.1%	-$172.4M+95.2%	-$3.6B-2415.9%	-$141.8M+6.6%	-$151.9M
Financing Cash Flow	-$329.7M-285.2%	$178.0M+139.8%	-$446.9M-31.2%	-$340.7M-1381.3%	-$23.0M+94.6%	-$428.2M-112.8%	$3.3B+795.8%	-$481.3M
Dividends Paid	$116.8M+2.1%	$114.4M0.0%	$114.4M0.0%	$114.4M+2.1%	$112.1M-0.2%	$112.3M+4.0%	$108.0M+2.7%	$105.2M
Share Buybacks	$400K-91.3%	$4.6M+1050.0%	$400K+300.0%	$100K-96.2%	$2.6M+2500.0%	$100K-75.0%	$400K-99.9%	$372.0M

SJM Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	38.8%+0.7pp	38.1%+5.2pp	32.9%-0.9pp	33.8%-5.5pp	39.2%+0.7pp	38.5%
Operating Margin	-7.7%-23.7pp	16.0%+14.1pp	1.8%-10.9pp	12.8%-4.5pp	17.3%+1.7pp	15.7%
Net Margin	-14.1%-23.2pp	9.1%+10.2pp	-1.1%-9.0pp	7.9%-3.0pp	10.9%+1.0pp	10.0%
Return on Equity	N/A	9.6%	N/A	7.8%-3.0pp	10.7%+1.4pp	9.3%
Return on Assets	-6.9%-10.6pp	3.7%+4.3pp	-0.6%-4.5pp	3.9%-1.5pp	5.4%+0.8pp	4.6%
Current Ratio	0.81+0.3	0.55-0.7	1.28+0.2	1.05+0.3	0.71-0.3	0.96
Debt-to-Equity	1.19+0.3	0.87+0.3	0.62+0.1	0.53+0.1	0.43-0.1	0.56
FCF Margin	9.4%+1.5pp	7.9%-0.5pp	8.4%-0.6pp	9.0%-6.7pp	15.7%+3.1pp	12.6%

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Gross Margin	37.3%+14.9pp	22.5%-17.7pp	40.2%+1.2pp	39.0%+1.5pp	37.5%+0.6pp	36.9%-0.4pp	37.4%+1.1pp	36.3%
Operating Margin	18.0%+15.8pp	2.2%+29.3pp	-27.2%-34.6pp	7.5%-9.0pp	16.4%+3.1pp	13.3%-2.1pp	15.4%-1.4pp	16.8%
Net Margin	10.4%+12.4pp	-2.1%+28.2pp	-30.3%-29.2pp	-1.1%-9.8pp	8.7%+3.3pp	5.4%-4.7pp	10.1%-0.1pp	10.2%
Return on Equity	4.0%	N/A	N/A	N/A	2.4%+0.8pp	1.6%-1.2pp	2.8%+0.1pp	2.6%
Return on Assets	1.4%+1.6pp	-0.3%+3.3pp	-3.6%-3.5pp	-0.1%-1.0pp	0.9%+0.3pp	0.6%-0.5pp	1.1%-0.2pp	1.3%
Current Ratio	0.89+0.1	0.81+0.2	0.60+0.0	0.58+0.0	0.55-0.2	0.78-2.4	3.20+1.9	1.28
Debt-to-Equity	1.16-0.0	1.19+0.3	0.92+0.0	0.89+0.0	0.87-0.2	1.07-0.0	1.10+0.5	0.62
FCF Margin	12.0%+16.5pp	-4.5%-11.4pp	6.9%-7.0pp	14.0%+11.6pp	2.3%-8.9pp	11.2%+9.8pp	1.5%-2.3pp	3.7%

Note: The current ratio is below 1.0 (0.81), 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 $8.7B in total revenue for fiscal year 2025. This represents a 6.7% 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 6.7% year-over-year, from $8.2B to $8.7B in fiscal year 2025.

Is J M Smucker profitable?

No, J M Smucker (SJM) reported a net income of -$1.2B in fiscal year 2025, with a net profit margin of -14.1%.

What is J M Smucker's earnings per share (EPS)?

J M Smucker (SJM) reported diluted earnings per share of $-11.57 for fiscal year 2025. This represents a -262.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is J M Smucker's EBITDA?

J M Smucker (SJM) had EBITDA of -$167.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does J M Smucker have?

As of fiscal year 2025, J M Smucker (SJM) had $39.3M in cash and equivalents against $7.0B in long-term debt.

What is J M Smucker's gross margin?

J M Smucker (SJM) had a gross margin of 38.8% in fiscal year 2025, 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 -7.7% in fiscal year 2025, 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 -14.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Does J M Smucker pay dividends?

Yes, J M Smucker (SJM) paid $4.32 per share in dividends during fiscal year 2025.

What is J M Smucker's free cash flow?

J M Smucker (SJM) generated $816.6M in free cash flow during fiscal year 2025. This represents a 27.0% 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 $1.2B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are J M Smucker's total assets?

J M Smucker (SJM) had $17.7B in total assets as of fiscal year 2025, including both current and long-term assets.

What are J M Smucker's capital expenditures?

J M Smucker (SJM) invested $393.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Does J M Smucker buy back shares?

Yes, J M Smucker (SJM) spent $3.3M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

How many shares does J M Smucker have outstanding?

J M Smucker (SJM) had 107M shares outstanding as of fiscal year 2025.

What is J M Smucker's current ratio?

J M Smucker (SJM) had a current ratio of 0.81 as of fiscal year 2025, 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 1.19 as of fiscal year 2025, 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 -6.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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 7–9 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 -0.98x, 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.