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. In the quarter to June 2026, revenue fell 2.19%, EPS grew 49.2% and free cash flow fell 30.1%, each against the same quarter a year earlier. Dividend growth for ten consecutive years, revenue growth for ten, operating cash flow growth for three; insiders bought in the last twelve months.
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The Marzetti Company (MZTI) Altman Z-score
The Marzetti Company's Altman Z-score for fiscal 2026 is 6.68, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 6.68 | (7.73) |
| FY2025 | 14.41 | (0.83) |
| FY2024 | 15.24 | (2.15) |
| FY2023 | 17.39 | 4.77 |
| FY2022 | 12.62 | (3.78) |
| FY2021 | 16.40 | 0.01 |
| FY2020 | 16.40 | (1.88) |
| FY2019 | 18.28 | (1.55) |
| FY2018 | 19.83 | 0.27 |
| FY2017 | 19.56 | (3.46) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.08 | — | 0.10 | |
| Retained earnings / total assets | 1.07 | — | 1.49 | |
| EBIT / total assets | 0.15 | — | 0.49 | |
| Market value of equity / total liabilities | 5.66 | — | 3.40 | |
| Sales / total assets | 1.20 | — | 1.20 | |
| Altman Z-score | Safe zone | 6.68 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 7.01 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| MZTI The Marzetti Company | 6.7× |
| JJSF J & J Snack Foods Corp. compare | 5.2× |
| FRPT Freshpet, Inc. compare | 4.0× |
| CENT Central Garden & Pet Company compare | 2.6× |
| CENTA Central Garden & Pet Company compare | 2.5× |
| HLF Herbalife Ltd compare | 2.4× |
| POST Post Holdings, Inc. compare | 1.5× |
| NOMD Nomad Foods Limited compare | 1.2× |
| UTZ Utz Brands, Inc. compare | 0.8× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets