olivLaw · US equity research
The J. M. Smucker Co. SJM
Canned, Fruits, Veg, Preserves, Jams & Jellies · SIC 2033 · Vertical: Food products (SIC 203x)
The J. M. Smucker Co. (SJM) makes and markets branded coffee, peanut butter, Uncrustables frozen sandwiches, sweet baked goods, pet food and syrups, sold mainly in North America. In the first quarter of fiscal 2027 net sales rose 5 percent and the company raised its full-year outlook, showing a portfolio being reshaped after several acquisitions and divestitures.
At the close of 04 Nov 2026, The J. M. Smucker Co. (SJM) stock was 132.43 USD (+3.48% on the day), with market capitalisation 14.1 bn USD, P/E 61.6 on diluted EPS of -1.30 USD over the last 12 months, dividend yield 3.34%, beta 0.09, 52-week range 89.53–133.39 USD. Latest reported quarter (Q1 2027): revenue of 2.2 bn USD (+5.0% YoY), net income of 324.3 m USD, diluted EPS 3.03 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 61.4
- strong (55–70)
- Bollinger (20, 2)
- 118.45 – 134.86
- in the upper half of the band · %B 0.85 · band width 13.0%
- SMA 50 / 200
- 124.57 / 111.60
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.20 / 1.88
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.9% | −1.1% | +15.0 pp | — |
| 3 months | +11.1% | −0.5% | +11.5 pp | — |
| 6 months | +36.8% | +4.4% | +32.4 pp | — |
| Year to date | +35.4% | +12.3% | +23.1 pp | — |
| 1 year | +27.8% | +13.5% | +14.2 pp | −32.9% |
| 3 years | +16.7% | +76.4% | −59.7 pp | −43.4% |
| 5 years | +5.3% | +63.7% | −58.4 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q1 2027 · 31 Jul 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2.3 bn | 2.2 bn | 2.1 bn | 2.1 bn | 2.3 bn | 2.3 bn | 2.3 bn | 2.2 bn |
| Cost of revenue | 1.4 bn | 1.3 bn | 1.3 bn | 1.6 bn | 1.5 bn | 1.5 bn | 1.4 bn | 1.2 bn |
| Gross profit | 886.1 m | 878.1 m | 823.3 m | 474.7 m | 869.9 m | 827.8 m | 862.1 m | 979.6 m |
| SG&A | 390.7 m | 367.6 m | 380.6 m | 377.4 m | 398.2 m | 363.2 m | 357.8 m | 410.5 m |
| Operating income | 169.7 m | -594.0 m | -599.1 m | 45.6 m | 418.5 m | -548.4 m | 444.5 m | 511.6 m |
| Pre-tax income | 66.8 m | -662.5 m | -697.1 m | -56.5 m | 318.4 m | -651.9 m | 327.6 m | 427.9 m |
| Income tax | 91.3 m | -200.0 k | 31.9 m | -12.6 m | 77.1 m | 72.3 m | -60.5 m | 103.6 m |
| Net income | -24.5 m | -662.3 m | -729.0 m | -43.9 m | 241.3 m | -724.2 m | 388.1 m | 324.3 m |
| Diluted EPS | -0.23 | -6.22 | — | -0.41 | 2.26 | -6.79 | — | 3.03 |
| Operating cash flow | 404.2 m ≈ | 239.4 m ≈ | 393.9 m | -10.6 m | 346.5 m ≈ | 558.5 m ≈ | 579.2 m | 425.7 m |
| Capex | 87.0 m ≈ | 88.1 m ≈ | 95.0 m | 84.3 m | 66.3 m ≈ | 71.5 m ≈ | 95.3 m | 88.4 m |
| Dividends paid | 114.4 m ≈ | 114.4 m ≈ | 114.5 m | 114.4 m | 116.8 m ≈ | 116.7 m ≈ | 116.8 m | 116.8 m |
| Share repurchases | 100.0 k ≈ | 400.0 k ≈ | 200.0 k | 4.6 m | 400.0 k ≈ | 200.0 k ≈ | 400.0 k | 5.7 m |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7.8 bn | 7.8 bn | 8.0 bn | 8.0 bn | 8.5 bn | 8.2 bn | 8.7 bn | 9.1 bn |
| Revenue YoY | +6.5% | −0.5% | +2.6% | −0.0% | +6.6% | −4.1% | +6.7% | +3.7% |
| Net income | 514.4 m | 779.5 m | 876.3 m | 631.7 m | -91.3 m | 744.0 m | -1.2 bn | -138.7 m |
| Net income YoY | −61.6% | +51.5% | +12.4% | −27.9% | −114.5% | unavailable | −265.4% | unavailable |
| Diluted EPS | 4.52 | 6.84 | 7.79 | 5.83 | -0.86 | 7.13 | -11.57 | -1.30 |
| Diluted EPS YoY | −61.6% | +51.3% | +13.9% | −25.2% | −114.8% | unavailable | −262.3% | unavailable |
| net % | 6.6% | 10.0% | 11.0% | 7.9% | -1.1% | 9.1% | -14.1% | -1.5% |
| Free cash flow | 781.4 m | 985.5 m | 1.3 bn | 718.8 m | 717.0 m | 642.9 m | 816.6 m | 1.2 bn |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2026 · 30 Apr 2026
- Cash
- 58.6 m USD
- Financial debt
- 6.8 bn USD
- Net debt
- 6.8 bn USD
- Equity
- 5.5 bn USD
- Total assets
- 16.2 bn USD
- Debt / equity
- 1.23x
- Current ratio
- 0.78x
- ROE
- -2.4%
- ROA
- -0.8%
- FCF margin
- 12.8%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 8.0 bn | 8.0 bn | 8.5 bn | 8.2 bn | 8.7 bn | 9.1 bn | SEC (XBRL)· 09 Jun 2026verified |
| Cost of revenue | 4.9 bn | 5.3 bn | 5.7 bn | 5.1 bn | 5.3 bn | 6.0 bn | SEC (XBRL)· 09 Jun 2026verified |
| Gross profit | 3.1 bn | 2.7 bn | 2.8 bn | 3.1 bn | 3.4 bn | 3.0 bn | SEC (XBRL)· 09 Jun 2026verified |
| SG&A | 1.5 bn | 1.4 bn | 1.5 bn | 1.4 bn | 1.5 bn | 1.5 bn | SEC (XBRL)· 09 Jun 2026verified |
| Operating income | 1.4 bn | 1.0 bn | 157.5 m | 1.3 bn | -673.9 m | 360.2 m | SEC (XBRL)· 09 Jun 2026verified |
| Pre-tax income | 1.2 bn | 843.8 m | -9.2 m | 996.4 m | -1.0 bn | -62.4 m | SEC (XBRL)· 09 Jun 2026verified |
| Income tax | 295.6 m | 212.1 m | 82.1 m | 252.4 m | 184.0 m | 76.3 m | SEC (XBRL)· 09 Jun 2026verified |
| Net income | 876.3 m | 631.7 m | -91.3 m | 744.0 m | -1.2 bn | -138.7 m | SEC (XBRL)· 09 Jun 2026verified |
| Diluted EPS | 7.79 | 5.83 | -0.86 | 7.13 | -11.57 | -1.30 | SEC (XBRL)· 09 Jun 2026verified |
| Weighted average diluted shares | 112.0 m | 108.4 m | — | — | — | — | SEC (XBRL)· 16 Jun 2022verified |
| Dividend per share | 3.60 | 3.96 | 4.08 | 4.24 | 4.32 | 4.40 | SEC (XBRL)· 09 Jun 2026verified |
Balance sheet · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 334.3 m | 169.9 m | 655.8 m | 62.0 m | 69.9 m | 58.6 m | SEC (XBRL)· 09 Jun 2026verified |
| Receivables | 533.7 m | 524.7 m | 597.6 m | 736.5 m | 619.0 m | 656.3 m | SEC (XBRL)· 09 Jun 2026verified |
| Inventories | 959.9 m | 1.1 bn | 1.0 bn | 1.0 bn | 1.2 bn | 1.1 bn | SEC (XBRL)· 09 Jun 2026verified |
| Current assets | 1.9 bn | 2.0 bn | 2.9 bn | 2.0 bn | 2.1 bn | 2.0 bn | SEC (XBRL)· 09 Jun 2026verified |
| Property, plant & equipment, net | 2.0 bn | 2.1 bn | 2.2 bn | 3.1 bn | 3.1 bn | 3.0 bn | SEC (XBRL)· 09 Jun 2026verified |
| Goodwill | 6.0 bn | 6.0 bn | 5.2 bn | 7.6 bn | 5.7 bn | 5.2 bn | SEC (XBRL)· 09 Jun 2026verified |
| Intangibles (excl. goodwill) | 6.0 bn | 5.7 bn | 4.4 bn | 7.3 bn | 6.3 bn | 5.7 bn | SEC (XBRL)· 09 Jun 2026verified |
| Total assets | 16.3 bn | 16.1 bn | 15.0 bn | 20.3 bn | 17.6 bn | 16.2 bn | SEC (XBRL)· 09 Jun 2026verified |
| Accounts payable | 1.0 bn | 1.2 bn | 1.4 bn | 1.3 bn | 1.3 bn | 1.2 bn | SEC (XBRL)· 09 Jun 2026verified |
| Short-term debt | 82.0 m | 180.0 m | 0 | 591.0 m | 640.8 m | 420.9 m | SEC (XBRL)· 09 Jun 2026verified |
| Long-term debt | 3.5 bn | 4.3 bn | 4.3 bn | 6.8 bn | 7.0 bn | 6.4 bn | SEC (XBRL)· 09 Jun 2026verified |
| Current liabilities | 2.9 bn | 2.0 bn | 2.0 bn | 3.8 bn | 2.7 bn | 2.5 bn | SEC (XBRL)· 09 Jun 2026verified |
| Total liabilities | 8.2 bn | 7.9 bn | 7.7 bn | 12.6 bn | 11.5 bn | 10.7 bn | SEC (XBRL)· 09 Jun 2026verified |
| Equity | 8.1 bn † | 8.1 bn † | 7.3 bn † | 7.7 bn † | 6.1 bn † | 5.5 bn † | SEC (XBRL)· 09 Jun 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 1.6 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.2 bn | 1.5 bn | SEC (XBRL)· 09 Jun 2026verified |
| Capex | 306.7 m | 417.5 m | 477.4 m | 586.5 m | 393.8 m | 317.4 m | SEC (XBRL)· 09 Jun 2026verified |
| Free cash flow | 1.3 bn ≈ | 718.8 m ≈ | 717.0 m ≈ | 642.9 m ≈ | 816.6 m ≈ | 1.2 bn ≈ | SEC (XBRL)· 09 Jun 2026derived |
| Investing cash flow | 311.1 m | -355.5 m | 256.2 m | -4.0 bn | -100.3 m | -258.8 m | SEC (XBRL)· 09 Jun 2026verified |
| Financing cash flow | -1.9 bn | -944.5 m | -964.6 m | 2.1 bn | -1.1 bn | -1.2 bn | SEC (XBRL)· 09 Jun 2026verified |
| Dividends paid | 403.2 m | 418.1 m | 430.2 m | 437.5 m | 455.4 m | 464.7 m | SEC (XBRL)· 09 Jun 2026verified |
| Share repurchases | 678.4 m | 270.4 m | 367.5 m | 372.8 m | 3.3 m | 5.6 m | SEC (XBRL)· 09 Jun 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 48 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 14.1 bn USD
Key indicators
Coverage and freshness
Score by group
- Valuation44
- Returns69
- Quality61
- Balance sheet6
- Growth17
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 57.82 – 77.76 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the reported interest expense is far older than the latest period (the filer changed its XBRL tag): a stale figure is not used
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · not enough peers
- Dividend discount (DDM)57.82 – 77.76 (Mid 66.32)
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 48/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 3.4% | 40 (vs peers) | 16% |
| Net margin · Quality | 2.5% | 57 (vs peers) | 10% |
| FCF conversion · Quality | 692.1% | 100 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | 2.0% | 17 (on a fixed band) | 13% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.9x | 6 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 61.6x | 0 (on a fixed band) | 16% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | 11.2% | 100 (on a fixed band) | 13% |
| Shareholder yield (distributions) · Returns | 3.3% | 48 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | 29.4% | 100 (on a fixed band) | 6% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial6/100 · 1/3 factors with a value
- Growth· partial17/100 · 1/2 factors with a value
- Quality61/100 · 3/3 factors with a value
- Returns69/100 · 2/2 factors with a value
- Valuation44/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
J M SMUCKER Co (SJM). Latest full fiscal year: 2026; data up to 2026-07-31.
Figures computed from the financial statements: revenue 9.1 bn USD in 2026; YoY growth 3.7%; net margin 2.5%; ROE 3.9%.
The estimated value range is 57.82–77.76 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 66.32 USD, the price of 132.43 USD leaves a potential of -49.9% (value / price − 1) and a margin of safety of -99.7% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 48/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance, growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- FCF conversion: 692.1%
- FCF yield: 11.2%
- Payout ratio (FCF): 29.4%
What contradicts it
- Revenue CAGR 3Y: 2.0%
- Current ratio: 0.9x
- P/E (TTM): 61.6x
- The price is above the estimated value range
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA.
Versus the vertical median
Food products (SIC 203x) · same industry group (3-digit SIC) · compared with 7 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| KHCKraft Heinz Co | 30.1 bn | — | -9.0% | -14.0% | −3.5% | −0% / −28% |
| SJMJ M SMUCKER Co | 14.1 bn | 61.6 | 3.9% | 2.5% | +3.7% | +28% / +17% |
| LWLamb Weston Holdings, Inc. | 7.8 bn | 30.8 | 14.2% | 3.8% | +2.5% | −4% / −43% |
| MZTIThe Marzetti Company | 3.1 bn | 17.7 | 16.8% | 9.1% | +1.1% | −33% / −32% |
| BRFHBarfresh Food Group Inc. | 8.8 m | — | -364.2% | -17.9% | +32.6% | −83% / −61% |
| PLAGPlanet Green Holdings Corp. | 5.2 m | — | -706.0% | -308.0% | −35.2% | −86% / −89% |
| FAMIFarmmi, Inc. | 538.9 k | — | -36.1% | -189.8% | −56.4% | −94% / −99% |
| SENEASeneca Foods Corporation | — | — | 12.2% | 5.6% | +8.2% | +21% / +200% |
1- and 3-year price returns: for SJM from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 76.31 Total return -42% · Per year -42% | 135.08 Total return 2% · Per year 2% | 203.69 Total return 54% · Per year 54% |
| 3 years | 70.38 Total return -47% · Per year -19% | 140.53 Total return 6% · Per year 2% | 233.20 Total return 76% · Per year 21% |
| 5 years | 64.92 Total return -51% · Per year -13% | 146.20 Total return 10% · Per year 2% | 266.98 Total return 102% · Per year 15% |
- Exit P/E± 35.13
- Net margin± 24.59
- Annual revenue growth± 20.68
- Annual dilution± 2.07
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
The J. M. Smucker Co. (SJM) makes and markets branded coffee, peanut butter, Uncrustables frozen sandwiches, sweet baked goods, pet food and syrups, sold mainly in North America. In the first quarter of fiscal 2027 net sales rose 5 percent and the company raised its full-year outlook, showing a portfolio being reshaped after several acquisitions and divestitures.123
SWOT
Strengths
- A portfolio of well-known brands in leading categories, with consumer trust, product innovation and an integrated distribution network 1.
- Sales spread across retail, clubs, e-commerce and away-from-home channels, which limits dependence on any single route to market 1.
- Operating cash flow improved sharply in the first quarter of fiscal 2027, giving flexibility for debt reduction and investment 23.
Weaknesses
- Customer concentration is high, with one large customer accounting for a significant share of sales 1.
- Some products rely on single plants or single suppliers, creating operational risk that could affect production 1.
- Sales are sensitive to price pressure and falling volumes in some segments, such as sweet baked goods 23.
Opportunities
Risks
- Customer concentrationhigh
A single large customer generates a significant part of sales, and losing it could affect long-term results 1.
- Single suppliers and plantshigh
Some products depend on one supplier or one production site, and an interruption could lead to extra costs 1.
- Tariffs and trade policymedium
Tariffs and changes in international trade could raise raw material and packaging costs, and refunds cannot be assumed to recur 13.
- Acquisitions and integrationmedium
Integrating acquisitions and divestitures can be difficult, and impairments could reduce profitability 1.
- Labor relationslow
Some collective bargaining agreements expire soon, and strikes could interrupt production 1.
Investment thesis
What would need to be true (bull case)
- If volume growth in coffee and Uncrustables persists, the company could keep improving revenue and profitability 23.
- The transformation program and tariff refunds helped a strong quarter, and if efficiencies hold, margins could stay higher 23.
- A portfolio of leading brands in its categories could support pricing and demand even in harder economic periods 1.
What would break the thesis
- Updated guidance for 2027 net sales points to a decline, which could signal pressure on volumes and prices in several segments 3.
- If tariff refunds do not recur, profit could fall back to a lower level, especially if costs stay high 23.
- Reliance on a few large customers and certain single suppliers remains a vulnerability that could affect results if problems arise 1.
What to watch
- Delivery of the net sales and adjusted EPS guidanceQ2 2027
- Evolution of tariff effects and refunds received2027
- Private label share and price pressure in coffee and sweet baked goodsnext 10-K
- Progress of the transformation program and Sweet Baked Snacks marginsQ2 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The company, known as Smucker's, operates principally in one industry, branded food and beverage products, with most sales in the United States 1. Net sales for fiscal 2026 were 9050.9 million dollars 1. For 2026, net sales outside the U.S. represented 4 percent of the total 1. Products reach consumers through retailers, club stores, discount stores, online channels and distributors, plus away-from-home foodservice 1.
The company reports five segments: U.S. Retail Coffee, U.S. Retail Frozen Handheld and Spreads, U.S. Retail Pet Foods, Sweet Baked Snacks and Away From Home 1. In 2023 it acquired Hostess Brands for a total of 5.4 billion dollars, adding sweet baked goods to the portfolio 1. Several businesses, including Voortman and certain Sweet Baked Snacks value brands, were later sold, reflecting a focus on core categories 1.
Customers are concentrated: Walmart, including Sam's Club, accounted for 34 percent of net sales in 2026, and the top ten customers generated about 60 percent of the total 1. The company presents itself as a leader in several categories, including coffee, peanut butter, fruit spreads, frozen handhelds, sweet baked goods, dog snacks and cat food, and says its brands rest on consumer trust 1.
Segments
U.S. Retail Coffee
The coffee segment generated first-quarter fiscal 2027 net sales of 807.8 million dollars, up 13 percent, supported mainly by higher prices 3. Segment profit rose sharply, partly reflecting tariff refunds 3.
U.S. Retail Frozen Handheld and Spreads
The frozen handheld and spreads segment reported first-quarter fiscal 2027 net sales of 499.3 million dollars, up 3 percent, supported by Uncrustables 3.
Market context
The company describes the packaged consumer goods market as facing a long-term decline in center-of-store volumes 1. Private label held an average market share of 14.0 percent in the 52 weeks ended April 2026 in the categories it competes in for retail and sweet baked goods, and 22.2 percent in Away From Home 1.
Inflationary pressure, tariffs and complex supply chains could influence demand and margins, and the company indicates these effects could persist into 2027 12. Updated 2027 guidance calls for net sales to decrease 1 to 2 percent 3.
Trends
- Cost inflation and pricingmixed
Raw material costs stayed elevated and the company raised prices in some areas, notably coffee, which supported sales but may reduce volumes 13.
- Tariffs and refundsmixed
Tariff refunds significantly boosted gross profit in the first quarter, but they are not a recurring gain, and new tariffs could raise future costs 23.
- Consumer health and channel shiftsheadwind
Greater interest in health, fresh foods and the influence of social media and e-commerce could reduce demand for traditional products, pushing the company to innovate 1.
- Productivity through transformationtailwind
The company-wide transformation program aims at productivity gains; if realized, margins could rise and fund investment 12.
Competitive position
The company says it competes with private label and with other branded products, and rivals are strong in each category 1. Differentiating factors include brand recognition, quality, price and innovation 1.
Competition depends on channel and category: in coffee the rivals include Nestlé, Keurig Dr Pepper and Starbucks, and in peanut butter Hormel Foods and Post Holdings are among the competitors listed 1.
- The Kraft Heinz CompanyKHC
Competitor in coffee and in foodservice condiments, as listed in the regulatory filing.
- Nestlé S.A.
Competitor in coffee, frozen snacks and pet food, as listed in the regulatory filing.
- Hormel Foods CorporationHRL
Competitor in peanut butter through its Skippy brand, as listed in the regulatory filing.
- Mars, Incorporated
Competitor in cat food and dog treats, as listed in the regulatory filing.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
- McCormick or Smucker: One Dividend Aristocrat Will Outrun the OtherYahoo Finance — News · 17 Sept 2026 · EN
- Smucker CFO Marshall Tucker Sells 18,482 Shares for $2.4 MillionYahoo Finance — News · 01 Sept 2026 · EN
- J. M. Smucker (SJM) Grew Sales 5% Due to Pricing. Is Volume Growth Broad Enough?Yahoo Finance — News · 29 Aug 2026 · EN
- The J. M. Smucker Company Q1 2027 Earnings Call SummaryYahoo Finance — News · 26 Aug 2026 · EN
- JM Smucker Rises on Outlook; Intuit Down on Full-Year Forecast | Stock MoversBloomberg Markets · 26 Aug 2026 · EN
- How To Earn $500 A Month From JM Smucker Stock Ahead Of Q1 EarningsYahoo Finance — News · 26 Aug 2026 · EN
- J.M. Smucker Q1 2027 earnings beat, raises fiscal 2027 forecastYahoo Finance — News · 26 Aug 2026 · EN
- J.M. Smucker Lifts Fiscal 2027 Outlook After Q1 Results ‘Exceeded Our Expectations’Yahoo Finance — News · 26 Aug 2026 · EN
- J. M. Smucker Q1 Earnings Call HighlightsYahoo Finance — News · 26 Aug 2026 · EN
- JM Smucker Moves on Profit Beat; Vail Resorts Down on Full Year Guidance Cut | Stock MoversBloomberg Markets · 09 Jun 2026 · EN
- Smucker Profit Tops Expectations, Buoyed by Coffee PricesBloomberg Markets · 09 Jun 2026 · EN
SEC filings
- Quarterly report26 Aug 2026
- Current report26 Aug 2026Results of operations · Financial statements and exhibits
- Current report17 Aug 2026Shareholder vote
- Proxy statement26 Jun 2026
- Annual report09 Jun 2026
- Current report09 Jun 2026Results of operations · Financial statements and exhibits
- Current report03 Mar 2026Departure or appointment of officers
- Current report26 Feb 2026Departure or appointment of officers · Regulation FD disclosure
- Quarterly report26 Feb 2026
- Current report26 Feb 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2026-04-30 · SEC / The J. M. Smucker Co. · 09 Jun 2026
- [2] Form 10-Q, quarter ended 2026-07-31 · SEC / The J. M. Smucker Co. · 26 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / The J. M. Smucker Co. · 26 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.