JM Smucker (SJM)
Market Price (12/25/2025): $99.17 | Market Cap: $10.6 BilSector: Consumer Staples | Industry: Packaged Foods & Meats
JM Smucker (SJM)
Market Price (12/25/2025): $99.17Market Cap: $10.6 BilSector: Consumer StaplesIndustry: Packaged Foods & Meats
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% | Weak multi-year price returns2Y Excs Rtn is -60%, 3Y Excs Rtn is -111% | Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 74% |
| Attractive yieldDividend Yield is 4.3%, FCF Yield is 6.0% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% | |
| Low stock price volatilityVol 12M is 30% | Key risksSJM key risks include [1] significant margin pressure driven by coffee cost inflation, Show more. | |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, E-commerce & DTC Adoption, and Vegan & Alternative Foods. Themes include Organic & Natural Products, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 11% |
| Attractive yieldDividend Yield is 4.3%, FCF Yield is 6.0% |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, E-commerce & DTC Adoption, and Vegan & Alternative Foods. Themes include Organic & Natural Products, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -60%, 3Y Excs Rtn is -111% |
| Debt is significantNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 74% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -11% |
| Key risksSJM key risks include [1] significant margin pressure driven by coffee cost inflation, Show more. |
Why The Stock Moved
Qualitative Assessment
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Here are the key points for why JM Smucker (SJM) stock moved by -9.3% between August 31, 2025, and December 25, 2025:1. Mixed Fiscal Q1 2026 Earnings and Negative Free Cash Flow. On August 27, 2025, JM Smucker announced its first-quarter fiscal 2026 results, reporting an adjusted earnings per share (EPS) of $1.90 and revenue of $2.11 billion, both aligning with analysts' forecasts. However, the company experienced a 1% decline in net sales year-over-year, a 22% decrease in adjusted EPS, and a negative free cash flow of $94.9 million, which contributed to a premarket stock decline of 4.14%.
2. Disappointing Fiscal Q2 2026 Earnings and Lowered Outlook. The company reported its second-quarter fiscal 2026 results on November 25, 2025, revealing an EPS of $2.10, which missed the consensus estimate of $2.12. Although revenue slightly beat expectations at $2.33 billion, the company's full-year fiscal 2026 EPS guidance was set between $8.75 and $9.25, falling below analyst expectations of $9.88. This news led to a 3.73% drop in the stock on the day of the announcement.
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Stock Movement Drivers
Fundamental Drivers
The -9.2% change in SJM stock from 9/24/2025 to 12/24/2025 was primarily driven by a -9.7% change in the company's P/S Multiple.| 9242025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 109.22 | 99.22 | -9.16% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8714.30 | 8773.20 | 0.68% |
| P/S Multiple | 1.34 | 1.21 | -9.68% |
| Shares Outstanding (Mil) | 106.60 | 106.70 | -0.09% |
| Cumulative Contribution | -9.16% |
Market Drivers
9/24/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| SJM | -9.2% | |
| Market (SPY) | 4.4% | -1.0% |
| Sector (XLP) | -0.5% | 52.0% |
Fundamental Drivers
The 5.7% change in SJM stock from 6/25/2025 to 12/24/2025 was primarily driven by a 5.5% change in the company's P/S Multiple.| 6252025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 93.83 | 99.22 | 5.74% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8726.10 | 8773.20 | 0.54% |
| P/S Multiple | 1.14 | 1.21 | 5.47% |
| Shares Outstanding (Mil) | 106.40 | 106.70 | -0.28% |
| Cumulative Contribution | 5.74% |
Market Drivers
6/25/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| SJM | 5.7% | |
| Market (SPY) | 14.0% | 0.7% |
| Sector (XLP) | -2.0% | 51.1% |
Fundamental Drivers
The -7.4% change in SJM stock from 12/24/2024 to 12/24/2025 was primarily driven by a -6.5% change in the company's P/S Multiple.| 12242024 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 107.17 | 99.22 | -7.42% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8831.20 | 8773.20 | -0.66% |
| P/S Multiple | 1.29 | 1.21 | -6.54% |
| Shares Outstanding (Mil) | 106.40 | 106.70 | -0.28% |
| Cumulative Contribution | -7.42% |
Market Drivers
12/24/2024 to 12/24/2025| Return | Correlation | |
|---|---|---|
| SJM | -7.4% | |
| Market (SPY) | 15.8% | 14.4% |
| Sector (XLP) | 0.2% | 53.1% |
Fundamental Drivers
The -30.8% change in SJM stock from 12/25/2022 to 12/24/2025 was primarily driven by a -35.4% change in the company's P/S Multiple.| 12252022 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 143.28 | 99.22 | -30.75% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 8169.00 | 8773.20 | 7.40% |
| P/S Multiple | 1.87 | 1.21 | -35.40% |
| Shares Outstanding (Mil) | 106.50 | 106.70 | -0.19% |
| Cumulative Contribution | -30.75% |
Market Drivers
12/25/2023 to 12/24/2025| Return | Correlation | |
|---|---|---|
| SJM | -14.1% | |
| Market (SPY) | 48.9% | 10.8% |
| Sector (XLP) | 14.9% | 53.2% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| SJM Return | 15% | 21% | 21% | -18% | -10% | -7% | 15% |
| Peers Return | 10% | 9% | 12% | -13% | -5% | -21% | -11% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| SJM Win Rate | 50% | 67% | 75% | 33% | 42% | 42% | |
| Peers Win Rate | 60% | 45% | 58% | 42% | 47% | 37% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| SJM Max Drawdown | -7% | -4% | -9% | -30% | -13% | -13% | |
| Peers Max Drawdown | -22% | -10% | -9% | -23% | -10% | -23% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: GIS, KHC, MDLZ, CAG, HRL. See SJM Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)
How Low Can It Go
| Event | SJM | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -33.5% | -25.4% |
| % Gain to Breakeven | 50.3% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -19.4% | -33.9% |
| % Gain to Breakeven | 24.1% | 51.3% |
| Time to Breakeven | 24 days | 148 days |
| 2018 Correction | ||
| % Loss | -34.4% | -19.8% |
| % Gain to Breakeven | 52.3% | 24.7% |
| Time to Breakeven | 1,110 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -46.2% | -56.8% |
| % Gain to Breakeven | 86.0% | 131.3% |
| Time to Breakeven | 503 days | 1,480 days |
Compare to CPB, HAIN, BRBF, MEHA, MDLZ
In The Past
JM Smucker's stock fell -33.5% during the 2022 Inflation Shock from a high on 1/6/2023. A -33.5% loss requires a 50.3% gain to breakeven.
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The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in four segments: U.S. Retail Coffee, U.S. Retail Consumer Foods, U.S. Retail Pet Foods, and International and Away From Home. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, shortening and oils, and frozen sandwiches; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking ingredient. It provides its products under the Folgers, Café Bustelo, Dunkin' Donuts, 1850, Jif, Smucker's, Crisco, Smucker's Uncrustables, Meow Mix, Kibbles ‘n Bits, 9Lives, Nature's Recipe, Milk-Bone, Pup-Peroni, Rachael Ray Nutrish, Natural Balance, Robin Hood, and Five Roses brands. The company sells its products through direct sales and brokers to food retailers and wholesalers, club stores, pet specialty stores, discount and dollar stores, drug stores, military commissaries, mass merchandisers, natural foods stores and distributors, and online retailers; and through retail channels, and foodservice distributors and operators. The J. M. Smucker Company was founded in 1897 and is headquartered in Orrville, Ohio.
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1. A Procter & Gamble for your kitchen pantry, specializing in everyday food and pet products.
2. A Kraft Heinz focused on breakfast and pantry essentials, like Jif peanut butter, Folgers coffee, and Smucker's jams.
3. A scaled-down Nestlé for American households, known for its iconic coffee, peanut butter, and jam brands.
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- Jams, Jellies, and Preserves: They produce and market a wide variety of fruit spreads, including the iconic Smucker's brand.
- Peanut Butter: This category includes the popular Jif brand, offering creamy and crunchy peanut butter varieties.
- Retail Coffee Products: They market and distribute numerous coffee brands for at-home consumption, such as Folgers, Café Bustelo, and Dunkin'.
- Pet Food and Snacks: This segment features well-known brands like Milk-Bone for dog snacks and Meow Mix for cat food.
- Baking Products: Under a licensing agreement, they offer Pillsbury-branded baking mixes and frostings for retail consumers.
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JM Smucker (SJM) sells primarily to other companies, specifically large retailers, wholesalers, club stores, and foodservice distributors.
Based on their annual reports (10-K filings), the following are identified as their major customers:
- Walmart Inc. (Symbol: WMT) - Accounted for approximately 25% of JM Smucker's net sales in recent fiscal years.
- Target Corporation (Symbol: TGT) - Accounted for approximately 10% of JM Smucker's net sales in recent fiscal years.
- The Kroger Co. (Symbol: KR) - Accounted for approximately 9% of JM Smucker's net sales in recent fiscal years.
JM Smucker also sells to a diverse base of other retailers, wholesalers, club stores, and foodservice distributors across North America.
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Mark Smucker, Chief Executive Officer and Chair of the Board
Mark Smucker is the fifth-generation member of the Smucker family to lead The J.M. Smucker Company, serving as CEO since May 2016 and Chairman since August 2022. He has held various executive positions within the company since 2001, including President of Consumer and Natural Foods, President of US Retail Coffee, and President of Special Markets.
Tucker Marshall, Chief Financial Officer
Tucker Marshall joined The J.M. Smucker Company in 2012 and was appointed Chief Financial Officer in 2020. Before joining Smucker, he gained diverse financial and capital markets experience in investment banking and private equity at Bank of America and The Reserve Group.
John Brase, President and Chief Operating Officer
John Brase became President and Chief Operating Officer of The J.M. Smucker Company in April 2025, having served as COO since 2020. He brings over 30 years of experience in the consumer goods industry, including leadership roles at Procter & Gamble, where he was most recently Vice President and General Manager for their North America Family Care business.
Gail Hollander, Chief Marketing Officer
Gail Hollander assumed the role of Chief Marketing Officer in April 2023. Prior to joining Smucker, she spent two decades at Publicis Groupe, where she was President, Group Client Lead, and led the client relationship with Smucker.
Jeannette Knudsen, Chief Legal Officer and Secretary
Jeannette Knudsen joined The J.M. Smucker Company in 2002. She has served as Senior Vice President, General Counsel and Corporate Secretary since 2016, and was elected Chief Legal and Compliance Officer and Secretary in 2019. Before her tenure at Smucker, she was an Associate Attorney with Buckingham, Doolittle & Burroughs, LLP, where she practiced in corporate transactions, intellectual property, real estate, and construction.
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Here are the key risks to JM Smucker's business:- Cost Inflation and Margin Pressure: JM Smucker is significantly impacted by cost inflation, particularly in input costs and green coffee, leading to compressed margins and profitability challenges. The company's recent 10-Q filing highlights a sharp increase in the cost of products sold, resulting in a substantial decline in gross profit and a net loss in a recent quarter. This margin pressure is a critical concern for investors, signaling a need for strategic pricing and cost management initiatives to mitigate ongoing inflationary pressures. Analysts note that without the impact of high coffee costs, the company could have experienced above-algorithmic EPS growth.
- Competition and Stagnant Organic Growth: Operating in a highly competitive industry, JM Smucker faces challenges related to stagnant organic revenue growth and the need to continually appeal to evolving consumer preferences. The company's revenue trajectory has shown volatility rather than sustained growth, with recent rebounds primarily driven by price hikes rather than organic volume increases. Many of Smucker's core brands, such as Jif and Folgers, dominate mature categories with slow organic growth, limiting significant volume gains. Additionally, recent acquisitions, like Hostess Brands, have presented challenges with underperformance and integration, impacting financial results and requiring strategic adjustments.
- Supply Chain Disruptions: JM Smucker is vulnerable to supply chain disruptions, including labor shortages and the impact of tariffs, which can adversely affect its operations and financial performance. Geopolitical events can also contribute to broad-based supply chain disruptions, leading to elevated costs, volume loss, and penalties, further straining profitability.
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The emergence and rapid growth of direct-to-consumer (DTC) companies specializing in fresh, human-grade, and personalized pet food presents a clear emerging threat to JM Smucker's significant pet food portfolio (which includes brands like Milk-Bone, Meow Mix, Kibbles 'n Bits, and Natural Balance). These DTC companies, such as The Farmer's Dog and Ollie, leverage subscription-based models to deliver minimally processed pet food directly to consumers' homes. This business model capitalizes on the increasing "humanization of pets" trend, where owners prioritize healthier, more transparent, and less processed food options for their animals. This disrupts traditional retail distribution channels and the established market for shelf-stable kibble and treats, fundamentally challenging the incumbent business model of legacy pet food manufacturers like Smucker.
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The addressable markets for J.M. Smucker's main products are detailed below:Coffee
- Global Coffee Market: USD 269.27 billion in 2024.
- North America Coffee Market: USD 121.0 billion in 2024.
- U.S. Coffee Market: USD 101.67 billion in 2024.
Peanut Butter
- Global Peanut Butter Market: USD 7.37 billion in 2024.
- North America Peanut Butter Market: USD 6.49 billion in 2024.
- U.S. Peanut Butter Market: USD 1.68 billion in 2024.
Pet Food
- Global Pet Food Market: USD 128.7 billion in 2024.
- North America Pet Food Market: USD 91.88 billion in 2025.
- U.S. Pet Food Market: USD 82.13 billion in 2025.
Fruit Spreads (Jams, Jellies, and Preserves)
- Global Fruit Spreads Market: USD 9.2 billion in 2024.
- North America Fruit Spreads Market: USD 2.5 billion in 2024.
- U.S. Jams, Jellies, and Preserves Market: Approximately USD 1.43 billion in 2024.
Frozen Handheld (Smucker's Uncrustables)
- Global Frozen Sandwiches Market: USD 1.597.20 billion in 2024.
- North America Frozen Sandwiches Market: Approximately USD 718.74 million in 2024 (45% of the global market).
- U.S. Frozen Sandwiches Market: null
Sweet Baked Goods (Hostess Brands)
- Global Sweet Baked Goods Market: USD 265 billion in 2024.
- North America Sweet Baked Goods Market: Approximately USD 106 billion in 2024 (more than 40% of the global market).
- U.S. Cakes, Pastries, and Sweet Pies Market: USD 61 billion in 2022.
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Here are 3-5 expected drivers of future revenue growth for JM Smucker (SJM) over the next 2-3 years:- Continued Momentum of Uncrustables: The Uncrustables brand is a significant growth engine for JM Smucker, consistently demonstrating double-digit growth and projected to exceed $1 billion in net sales by the end of fiscal year 2026. This growth is driven by ongoing national advertising campaigns, expanded distribution, and strategic investments in new manufacturing facilities to support increased demand.
- Strong Performance and Investment in Café Bustelo: The Café Bustelo brand continues to be a strong performer, achieving double-digit net sales growth in most recent quarters. The company is actively fueling this momentum through increased marketing investments aimed at enhancing brand awareness and household penetration.
- Strategic Pricing Actions: JM Smucker has implemented and plans to continue utilizing price increases, particularly within its coffee portfolio, to offset rising commodity costs and contribute to net sales growth. This is a key component of their strategy to manage profitability and revenue in a dynamic market.
- Innovation and Portfolio Management, Including Hostess Brands Integration: The company is focused on consumer-led innovation and disciplined portfolio management. This includes the ongoing integration of Hostess Brands, where efforts are concentrated on driving the base portfolio, expanding distribution, and introducing new products. Additionally, new product launches, such as Milk-Bone Peanut Buttery Bites, are aimed at reinvigorating other key brands.
- Expansion in Away-From-Home and Convenience Channels: JM Smucker is strategically expanding the distribution of its key growth platforms, notably Uncrustables, into away-from-home and convenience channels. This broader market penetration is expected to contribute to overall revenue growth for these popular products.
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Share Repurchases
- JM Smucker's repurchase of common stock averaged $338.5 million annually from fiscal years ending April 2021 to 2025.
- Share repurchases were highest in April 2021 at $678.4 million and lowest in April 2025 at $3.3 million.
- In October 2021, the company increased its share buyback authorization by 5 million common shares, making approximately 7.8 million shares available for future buyback.
Share Issuance
- In April 2025, the company granted one-time special equity awards of 35,000 restricted shares to its President and COO, and 22,000 restricted shares to its CFO, both with five-year vesting periods.
Outbound Investments
- JM Smucker acquired Hostess Brands for $5.6 billion in cash and stock in November 2023, expanding its sweet baked snacks portfolio.
- The company divested its Crisco oils and shortening business for $550 million in December 2020 and the Natural Balance premium pet food business for approximately $50 million in February 2021, as part of portfolio optimization.
- Recent divestitures include the Voortman® cookie business for approximately $305 million in December 2024 and certain Sweet Baked Snacks value brands (Cloverhill and Big Texas) for approximately $40 million in January 2025.
Capital Expenditures
- Capital expenditures averaged $436.4 million from fiscal years ending April 2021 to 2025, peaking at $586.5 million in April 2024.
- In November 2021, the company announced a significant investment of $1.1 billion to construct a new manufacturing facility and distribution center in McCalla, Alabama, specifically for Smucker's Uncrustables sandwiches, with production commencing in 2025.
- JM Smucker plans to invest over $120 million to expand production at its Hostess manufacturing plant in Columbus, Georgia, with completion expected by early 2027.
Latest Trefis Analyses
| Title | |
|---|---|
| ARTICLES |
Trade Ideas
Select ideas related to SJM. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | BF-B | Brown-Forman | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -6.5% | -6.5% | -7.4% |
| 11302025 | CPB | Campbell's | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -8.1% | -8.1% | -9.2% |
| 11212025 | ENR | Energizer | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 13.2% | 13.2% | -5.3% |
| 11212025 | FLO | Flowers Foods | Dip Buy | DB | FCF Yield | Low D/EDip Buy with High Free Cash Flow YieldBuying dips for companies with significant free cash flow yield (FCF / Market Cap) and reasonable debt / market cap | 5.2% | 5.2% | -1.6% |
| 11142025 | CLX | Clorox | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -5.3% | -5.3% | -6.0% |
| 06302025 | SJM | JM Smucker | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 3.1% | 3.1% | 0.0% |
| 12312018 | SJM | JM Smucker | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | 26.5% | 14.9% | 0.0% |
Research & Analysis
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Peer Comparisons for JM Smucker
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 35.67 |
| Mkt Cap | 19.3 |
| Rev LTM | 15,441 |
| Op Inc LTM | 2,122 |
| FCF LTM | 1,330 |
| FCF 3Y Avg | 1,744 |
| CFO LTM | 1,814 |
| CFO 3Y Avg | 2,292 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.2% |
| Rev Chg 3Y Avg | -0.8% |
| Rev Chg Q | -0.4% |
| QoQ Delta Rev Chg LTM | -0.1% |
| Op Mgn LTM | 13.5% |
| Op Mgn 3Y Avg | 15.7% |
| QoQ Delta Op Mgn LTM | -0.7% |
| CFO/Rev LTM | 11.2% |
| CFO/Rev 3Y Avg | 14.1% |
| FCF/Rev LTM | 7.5% |
| FCF/Rev 3Y Avg | 9.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 19.3 |
| P/S | 1.2 |
| P/EBIT | 12.3 |
| P/E | 1.7 |
| P/CFO | 10.8 |
| Total Yield | 7.6% |
| Dividend Yield | 5.0% |
| FCF Yield 3Y Avg | 6.5% |
| D/E | 0.6 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.7% |
| 3M Rtn | -7.8% |
| 6M Rtn | -9.1% |
| 12M Rtn | -18.3% |
| 3Y Rtn | -34.9% |
| 1M Excs Rtn | -6.0% |
| 3M Excs Rtn | -9.5% |
| 6M Excs Rtn | -21.8% |
| 12M Excs Rtn | -35.1% |
| 3Y Excs Rtn | -116.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| U.S. Retail Coffee | 2,704 | 2,735 | 2,497 | 2,375 | 2,150 |
| U.S. Retail Pet Foods | 1,823 | 3,038 | 2,764 | 2,844 | 2,870 |
| U.S. Retail Frozen Handheld and Spreads | 1,816 | 1,631 | 1,707 | 1,836 | 1,732 |
| International and Away From Home | 1,199 | 1,125 | 1,030 | 948 | 1,050 |
| Sweet Baked Snacks | 637 | 0 | |||
| Total | 8,179 | 8,529 | 7,999 | 8,003 | 7,801 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| U.S. Retail Coffee | 759 | 738 | 737 | 769 | 691 |
| U.S. Retail Frozen Handheld and Spreads | 434 | 353 | 424 | 472 | 390 |
| U.S. Retail Pet Foods | 402 | 495 | 396 | 487 | 553 |
| International and Away From Home | 208 | 143 | 142 | 124 | 173 |
| Sweet Baked Snacks | 138 | 0 | |||
| Change in net cumulative unallocated derivative gains and losses | 7 | -21 | -23 | 94 | 20 |
| Cost of products sold - special project costs | -3 | -6 | -20 | -3 | 0 |
| Gain (loss) on divestitures - net | -13 | -1,018 | 10 | 25 | 0 |
| Other special project costs | -130 | -5 | -8 | -21 | -16 |
| Amortization | -191 | -207 | -224 | -233 | -236 |
| Corporate administrative expenses | -306 | -313 | -259 | -324 | -298 |
| Other intangible assets impairment charges | 0 | -150 | -4 | -52 | |
| Total | 1,306 | 157 | 1,024 | 1,387 | 1,223 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Sweet Baked Snacks | 6,267 | 0 | |||
| U.S. Retail Coffee | 4,826 | 4,809 | 4,892 | 4,794 | 4,787 |
| U.S. Retail Pet Foods | 4,784 | 4,994 | 7,167 | 7,481 | 7,731 |
| U.S. Retail Frozen Handheld and Spreads | 3,257 | 2,973 | 2,692 | 2,553 | 2,873 |
| International and Away From Home | 990 | 978 | 974 | 1,014 | 1,048 |
| Unallocated | 150 | 1,237 | 330 | 442 | 530 |
| Total | 20,274 | 14,991 | 16,055 | 16,284 | 16,970 |
Price Behavior
Price Behavior
| Market Price | $99.22 | |
| Market Cap ($ Bil) | 10.6 | |
| First Trading Date | 10/31/1994 | |
| Distance from 52W High | -13.8% | |
| 50 Days | 200 Days | |
| DMA Price | $102.87 | $106.09 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -3.6% | -6.5% |
| 3M | 1YR | |
| Volatility | 22.9% | 29.7% |
| Downside Capture | 38.12 | 6.58 |
| Upside Capture | -14.57 | -2.01 |
| Correlation (SPY) | -3.0% | 14.4% |
SJM Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.15 | -0.06 | -0.02 | -0.06 | 0.24 | 0.18 |
| Up Beta | -1.43 | -0.65 | -0.49 | -0.20 | 0.38 | 0.34 |
| Down Beta | -0.63 | 0.10 | 0.13 | 0.34 | 0.34 | 0.20 |
| Up Capture | 81% | -13% | -12% | -20% | -1% | -0% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 11 | 22 | 33 | 65 | 121 | 351 |
| Down Capture | 58% | 16% | 20% | -16% | 11% | 28% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 7 | 18 | 28 | 59 | 126 | 395 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of SJM With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| SJM | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | -5.2% | 0.7% | 19.2% | 71.9% | 8.9% | 6.0% | -10.4% |
| Annualized Volatility | 29.5% | 13.9% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | -0.17 | -0.19 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 52.8% | 14.7% | 4.2% | 2.4% | 37.4% | 3.2% | |
ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Comparison of SJM With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| SJM | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 0.7% | 5.8% | 14.9% | 18.7% | 11.7% | 4.8% | 32.6% |
| Annualized Volatility | 23.5% | 13.0% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.01 | 0.24 | 0.70 | 0.97 | 0.51 | 0.17 | 0.59 |
| Correlation With Other Assets | 53.8% | 13.7% | 4.4% | 2.3% | 28.8% | -2.0% | |
ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Comparison of SJM With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| SJM | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 0.9% | 7.1% | 14.7% | 14.9% | 6.9% | 5.2% | 69.2% |
| Annualized Volatility | 23.9% | 14.7% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.04 | 0.36 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 54.7% | 23.9% | 4.9% | 3.8% | 30.5% | 0.4% | |
ETFs used for asset classes: Sector ETF = XLP, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/25/2025 | -3.7% | -3.7% | |
| 8/27/2025 | -4.4% | 1.3% | -2.5% |
| 6/10/2025 | -15.6% | -14.7% | -6.3% |
| 2/27/2025 | -0.0% | 0.2% | 6.9% |
| 11/26/2024 | 5.7% | 3.2% | -2.4% |
| 8/28/2024 | -4.9% | -0.1% | -0.7% |
| 6/6/2024 | 4.6% | -0.2% | -0.4% |
| 2/27/2024 | -2.1% | -2.6% | -1.6% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 13 | 16 | 9 |
| # Negative | 11 | 8 | 15 |
| Median Positive | 3.3% | 1.4% | 6.3% |
| Median Negative | -3.7% | -3.2% | -2.4% |
| Max Positive | 6.9% | 8.1% | 14.4% |
| Max Negative | -15.6% | -14.7% | -12.2% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 10312025 | 11252025 | 10-Q 10/31/2025 |
| 7312025 | 8272025 | 10-Q 7/31/2025 |
| 4302025 | 6182025 | 10-K 4/30/2025 |
| 1312025 | 2272025 | 10-Q 1/31/2025 |
| 10312024 | 11262024 | 10-Q 10/31/2024 |
| 7312024 | 8282024 | 10-Q 7/31/2024 |
| 4302024 | 6182024 | 10-K 4/30/2024 |
| 1312024 | 2272024 | 10-Q 1/31/2024 |
| 10312023 | 12052023 | 10-Q 10/31/2023 |
| 7312023 | 8292023 | 10-Q 7/31/2023 |
| 4302023 | 6202023 | 10-K 4/30/2023 |
| 1312023 | 2282023 | 10-Q 1/31/2023 |
| 10312022 | 11212022 | 10-Q 10/31/2022 |
| 7312022 | 8232022 | 10-Q 7/31/2022 |
| 4302022 | 6162022 | 10-K 4/30/2022 |
| 1312022 | 3012022 | 10-Q 1/31/2022 |
Insider Activity
Expand for More| Owner | Title | Filing Date | Action | Price | Shares | TransactedValue | Value ofHeld Shares | Form | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | SMUCKER MARK T | CEO, Chair of Board | 9252025 | Sell | 110.00 | 6,500 | 715,000 | 8,447,120 | Form |
| 1 | AMIN TARANG | 6122025 | Buy | 96.09 | 1,050 | 100,894 | 367,544 | Form | |
| 2 | Penrose Jill R | Chief People Officer | 3312025 | Sell | 116.26 | 5,117 | 594,902 | 1,022,390 | Form |
| 3 | Knudsen Jeannette L | Chief Legal Officer | 3242025 | Sell | 110.55 | 2,700 | 298,485 | 1,617,015 | Form |
| 4 | Marshall Tucker H | Chief Financial Officer | 3142025 | Sell | 113.36 | 5,028 | 569,974 | 1,503,475 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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