The J. M. Smucker Company
SJM Consumer Defensive Packaged Foods
The J. M. Smucker Company’s revenue for fiscal 2026 (year ended April 2026) was $9.1 billion, up 3.72% from fiscal 2025. In the quarter to July 2026, revenue grew 5.02%, EPS grew 841.5%, free cash flow grew 511.7% and total debt fell 15.7%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for ten consecutive years; insiders bought in the last twelve months.
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The J. M. Smucker Company (SJM) Altman Z-score
The J. M. Smucker Company's Altman Z-score for fiscal 2026 is 1.17, in the distress zone (below 1.81).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2026 | 1.17 | 0.15 |
| FY2025 | 1.02 | (0.21) |
| FY2024 | 1.23 | (0.92) |
| FY2023 | 2.15 | 0.06 |
| FY2022 | 2.09 | 0.06 |
| FY2021 | 2.03 | 0.19 |
| FY2020 | 1.84 | 0.09 |
| FY2019 | 1.75 | (0.24) |
| FY2018 | 2.00 | 0.21 |
| FY2017 | 1.79 | (0.08) |
How fiscal 2026’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | (0.03) | — | −0.04 | |
| Retained earnings / total assets | (0.01) | — | −0.01 | |
| EBIT / total assets | 0.02 | — | 0.07 | |
| Market value of equity / total liabilities | 0.98 | — | 0.59 | |
| Sales / total assets | 0.56 | — | 0.56 | |
| Altman Z-score | Distress zone | 1.17 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.45 | ||
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 |
|---|---|
| SFD Smithfield Foods, Inc. compare | 3.4× |
| HRL Hormel Foods Corporation compare | 3.3× |
| JBS JBS N.V. compare | 2.7× |
| MKC McCormick & Company, Incorporated compare | 2.6× |
| LW Lamb Weston compare | 2.5× |
| GIS General Mills, Inc. compare | 2.1× |
| MICC The Magnum Ice Cream Company N.V. compare | 2.0× |
| DAR Darling Ingredients Inc. compare | 1.9× |
| SJM The J. M. Smucker Company | 1.2× |
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
More on SJM
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Beneish M-score
- The full statement