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The Marzetti Company

MZTI Consumer Defensive Packaged Foods

The Marzetti Company’s revenue for fiscal 2026 (year ended June 2026) was $1.9 billion, up 1.08% from fiscal 2025.

Revenue
−2.42%
EPS
−37.1%
Free cash flow
−38.5%

Quarter to September 2026, against a year earlier

108.80 3.30 −2.94%
Market cap
$3.0B
P/E
17.2×
Fwd P/E
16.5×
Dividend yield
3.68%
F-score
5/9
Altman Z
6.68
Beneish M
−2.62
Dividend safety
84/100
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Bought, $m 0.10
Sold, $m 0.23
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — 1 — — — — —
Sell — — — — — — 1 — — 1 — —
Insider Ownership 30.21%

Capital & Financial Ratios $m

Size
Market Cap 2,960.00
Revenue ttm 1,917.87
Net income ttm 173.72
Free cash flow ttm 205.70
Net debt Q 179.29
Valuation
P/E 17.17
Forward P/E 16.50
Price / sales 1.54
Forward P/S Powerpack
Price / FCF 14.40
Price / book 2.82
Financial health
Current ratio Q 1.53 (at or above 1.5: strong)
Debt / equity Q 0.19 (at or below 0.5: strong)
Interest coverage Q 14.82
Growth
Revenue growth Q −2.42% (below 0%: shrinking)
Operating income growth Q −30.06% (below 0%: shrinking)
EPS, this year −7.02% (below 0%: weak)
EPS, next year A +11.04%
Revenue, next year A +3.69%
EPS, past 5 yrs +6.23%
EPS, next 5 yrs A +1.30%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.6×, against a ten-year median of 2.8×; over the ten years it ranged from 1.5× in 2026 to 3.8× in 2018.
P/E against its own 10 years 3.56%
10-year low 10-year high
P/S against its own 10 years 2.20%
10-year low 10-year high
P/B against its own 10 years 1.91%
10-year low 10-year high
EV/Sales against its own 10 years 3.15%
10-year low 10-year high
EV/FCF against its own 10 years 6.70%
10-year low 10-year high

Dividends raised every year since 2017

Yield
3.68%
Annual rate
4.00
Payout ratio
63.2%
Growth, 2017–25
+6.94%/yr
  1. 2.25 ’17
  2. 2.45 ’18 +9
  3. 2.65 ’19 +8
  4. 2.85 ’20 +8
  5. 3.05 ’21 +7
  6. 3.25 ’22 +7
  7. 3.45 ’23 +6
  8. 3.65 ’24 +6
  9. 3.85 ’25 +5
  10. 3.95 ’26e +3
paid forecast change on the year, % Powerpack

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 163 161 25 18
Receivables 96 96 105 110
Inventory 173 169 205 216
Other 12 17 25 37
444 444 361 380
2024 2025 2026 Q'26
Payables 119 118 157 181
ST’ Debt — — 10 10
Other — — — —
184 186 232 248

Compound Annual Growth %

10y 5y 3y
Sales 4.94% 5.64% 1.93%
Cash Flow 6.88% 10.26% 7.90%
Earnings 4.62% 6.13% 19.87%
Book Value 7.45% 4.55% 6.89%

Earnings Trends EPS, adjusted, against the consensus

Q4 FY25 Estimate 1.35 Actual 1.33

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 1.35 1.33 Miss by 0.02

EPS $

Sep Dec Mar Jun Year
’26 1.07 — — — —
’26 1.71 2.15 1.35 1.76 6.98
’25 1.62 1.78 1.49 1.18 6.07
’24 1.59 1.87 1.03 1.26 5.76
’23 1.36 1.45 0.89 0.33 4.04
’22 1.11 1.25 (0.17) 1.06 3.25
’21 1.35 1.62 1.05 1.15 5.16
Fiscal quarters ending in the months shown.

Revenue $m

Sep Dec Mar Jun Year
’26 482 — — — —
’26 493 518 453 465 1,930
’25 467 509 458 475 1,909
’24 462 486 471 453 1,872
’23 426 477 465 455 1,823
’22 392 428 403 452 1,676
’21 349 375 357 386 1,467
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Sep Dec Mar Jun Year
’26 51 — — — —
’26 70 89 71 55 284
’25 20 108 46 88 261
’24 36 106 76 34 252
’23 51 90 44 42 226
’22 (1) 43 17 43 102
’21 24 67 48 35 174
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Sep Dec Mar Jun Year
’26 33 — — — —
’26 54 72 49 52 226
’25 2 97 31 74 203
’24 17 87 61 25 191
’23 27 58 21 30 137
’22 (31) 7 (21) 16 (30)
’21 9 52 (8) 3 86
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to June

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Sep ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 1,202 1,223 1,308 1,334 1,467 1,676 1,823 1,872 1,909 1,930 1,918 +5.4% 2,001 2,050 2,054 +2.1%
Gross margin, % 26.52 24.82 24.94 26.83 26.36 21.22 21.32 23.10 23.87 24.73 24.47 (1.8) pt
EBT 176 174 196 179 186 112 143 206 213 242 220 +3.6%
EBT margin, % 14.60 14.24 14.95 13.42 12.66 6.70 7.86 10.98 11.18 12.54 11.47 (2.1) pt
Net income 115 135 151 137 142 90 111 159 167 192 174 +5.8%
Per share, $
Per share, $ Revenue 43.90 44.63 47.66 48.62 53.40 61.08 66.37 68.21 69.50 70.47 70.44 +5.4%
Earnings 4.21 4.93 5.48 4.98 5.17 3.26 4.04 5.77 6.08 6.98 6.34 +5.8%
Cash flow 5.35 5.86 7.20 6.22 6.34 3.71 8.23 9.17 9.52 10.36 9.74 +7.6%
Capex (0.93) (1.13) (2.58) (3.01) (3.19) (4.79) (3.24) (2.21) (2.11) (2.09) (2.19) +9.4%
Free cash flow 4.41 4.73 4.62 3.22 3.15 (1.09) 4.99 6.96 7.41 8.27 7.56 +7.2%
Book value 21.04 23.80 26.49 28.54 30.69 30.77 31.40 33.74 36.35 38.46 38.63 +6.9%
Shares, m 27 27 27 27 27 27 27 27 27 27 27 0.0%
Valuation, ×
Valuation, × P/E 29.13 28.36 26.92 31.12 37.43 39.62 49.77 32.68 28.46 16.38 17.17 32.0
P/S 2.79 3.13 3.09 3.19 3.62 2.11 3.03 2.76 2.49 1.62 1.54 2.8
P/B 5.83 5.87 5.56 5.43 6.31 4.18 6.40 5.59 4.75 2.97 2.82 5.3
EV/Sales 2.67 2.96 2.94 3.06 3.52 2.09 3.00 2.69 2.41 1.71 1.64 2.7
EV/FCF 26.59 27.95 30.29 46.25 90.68 (117.84) 39.90 26.38 22.66 14.57 15.27 20.7
Cash, $m
Cash, $m Operating cash flow 146 161 198 171 174 102 226 252 261 284 265 +7.6%
Capex (26) (31) (71) (83) (88) (132) (89) (61) (58) (57) (60) +9.4%
Free cash flow 121 130 127 88 86 (30) 137 191 203 226 206 +7.2%
Balance, $m
Balance, $m Working capital 225 285 249 259 250 186 206 260 257 129 133 (5.9%)
Net debt (143) (206) (196) (172) (155) (24) (58) (163) (161) 174 179 n/m
Shareholders’ equity 576 652 727 783 843 845 862 926 998 1,053 1,052 +6.9%
Returns, %
Returns, % ROA 17.07 17.79 17.61 14.43 13.56 8.15 10.08 13.64 13.45 13.28 11.71 (3.8) pt
ROIC 25.17 24.01 22.49 18.00 16.88 8.53 11.00 16.34 16.45 12.16 11.22 (13.0) pt
ROE 21.17 22.03 21.83 18.14 17.47 10.59 13.01 17.70 17.35 18.64 16.75 (2.5) pt
People
People Employees 2,800 2,900 3,200 3,200 3,200 3,200 3,400 3,400 3,700 3,500 — +2.5%
Revenue/emp, $m 0.43 0.42 0.41 0.42 0.46 0.52 0.54 0.55 0.52 0.55 — +2.8%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jun 2026 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

The Marzetti Company vs peers in Packaged Foods (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
POST Post Holdings, Inc. $3.7B 14.2× 11.8× −1.83% (below 0%: shrinking) −27.69% (below 0%: shrinking) +69.65% (above 0%: growing) 29.07% 9.72% Compare
FRPT Freshpet, Inc. $3.1B 24.3× 34.4× +10.04% (above 0%: growing) −70.50% (below 0%: shrinking) +19.86% (above 0%: growing) 44.46% 11.05% Compare
MZTI The Marzetti Company $3.0B 17.2× 16.5× −2.42% (below 0%: shrinking) −37.06% (below 0%: shrinking) −38.53% (below 0%: shrinking) 23.00% 8.61%
CENT Central Garden & Pet Company $2.7B 17.7× 16.3× −8.17% (below 0%: shrinking) −4.58% (below 0%: shrinking) +25.12% (above 0%: growing) 35.92% 14.26% Compare
CENTA Central Garden & Pet Company $2.7B 15.2× — −8.17% (below 0%: shrinking) −4.58% (below 0%: shrinking) +25.12% (above 0%: growing) 35.92% 14.26% Compare
UTZ Utz Brands, Inc. $2.1B — (loss-making) 21.0× +1.39% (above 0%: growing) n/m +93.40% (above 0%: growing) 25.87% (1.48%) Compare
JJSF J & J Snack Foods Corp. $1.7B 34.7× 25.9× −6.24% (below 0%: shrinking) −16.74% (below 0%: shrinking) +4.83% (above 0%: growing) 35.45% 10.86% Compare
NOMD Nomad Foods Limited $1.7B 11.8× 9.1× −0.76% (below 0%: shrinking) −2.38% (below 0%: shrinking) +24.23% (above 0%: growing) 28.91% 12.24% Compare
HLF Herbalife Ltd $1.6B 8.7× 8.5× +6.01% (above 0%: growing) +29.36% (above 0%: growing) +12.54% (above 0%: growing) 77.33% 10.26% Compare
Median of peers $2.4B 15.2× 16.3× −1.29% −4.58% +24.67% 35.69% 10.96%

All 68 Packaged Foods stocks →

Pay and ownership Proxy statement filed 13 October 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 5.74m 2.15m 65.62
2025 5.38m 4.16m 96.69
2024 5.42m 5.73m 103.58
2023 5.03m 10.31m 108.05
2022 3.74m (244.74k) 67.99

Ownership

Directors and executive officers, together 29.30%
John B. Gerlach, Jr. 27.50%
Dareth A. Gerlach 21.70%
John B. Gerlach Trust A-1 21.00%
BlackRock, Inc. 9.50%
Vanguard Portfolio Management 5.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

The Marzetti Company (MZTI) Latest News

6 Nov

Impact 3 · · GuruFocus.com

3 Nov

Impact 3 · · Moby
Impact 3 · · The Motley Fool transcript
Impact 3 · · InvestorsHub
Impact 3 · · StockStory
Impact 3 · · Business Wire

26 Oct

Impact 4 · · Business Wire

17 Oct

Impact 4 · · Insider Monkey

7 Oct

Impact 4 · · Simply Wall St.

5 Oct

Impact 3 · · StockStory

1 Sep

Impact 4 ·
Impact 4 · · The Motley Fool transcript

28 Aug

Impact 4 ·

26 Aug

Impact 4 · · MarketBeat
Impact 3 ·

25 Aug

Impact 4 ·
Impact 4 · · Moby transcript
Impact 3 ·
Impact 3 ·

23 Aug

Impact 3 ·

1 Aug

Impact 3 ·

6 May

Impact 4 · · Simply Wall St.
Impact 3 · · Simply Wall St.

4 May

Impact 4 · · Moby
Impact 4 · · The Motley Fool transcript
Impact 3 · · StockStory
Impact 3 · · Business Wire

3 May

Impact 3 · · StockStory

1 May

Impact 4 · · Business Wire

14 Apr

Impact 3 · · Simply Wall St.

MZTI metrics, ten years each

stockrow.com/MZTI · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com