SJM
The J. M. Smucker Company
SJM's fundamentals are strong, but it looks expensive: trading at 62x earnings, about three times its usual 20x. Analysts expect earnings growth.
SJM Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Healthy | |
| Strong | |
| Weak |
SJM's profitability and cash flow are currently healthy, and its revenue is stable, but its balance sheet is weak.
SJM PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 13x | $132 | — |
| Cheap | 16x | $33.38 | -75% |
| Fair | 20x | $42.33 | -68% |
| Expensive | 26x | $55.13 | -58% |
| Current | 62x | $132 | — |
Historical ranges are pointers, not guarantees.
SJM's PE is in its expensive range at 62x. If earnings grow as analysts expect, today's price would be 13x next year's earnings, in its cheap range.
SJM Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Growth | |
| Stable | |
| Improving | |
| Moderate | |
| High |
Analysts expect SJM's earnings to grow and its profitability to improve, with its revenue holding steady.
SJM Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $10.35 | +384% |
| Q3 2026 | $2.14 | +$15.86 |
| Q2 2026 | -$1.30 | +$10.27 |
| Q1 2026 | -$11.80 | -$9.40 |
| Q4 2025 | -$11.23 | -327% |
| Q3 2025 | -$13.72 | -294% |
| Q2 2025 | -$11.57 | -262% |
| Q1 2025 | -$2.40 | -$1.59 |
| Q4 2024 | $4.95 | +49400% |
SJM has returned to profit: it earned $2.14 per share over the past year, after losing money the year before.
SJM Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $2.2B | +5% |
| Q2 2026 | $2.3B | +5.8% |
| Q1 2026 | $2.3B | +7% |
| Q4 2025 | $2.3B | +2.6% |
| Q3 2025 | $2.1B | -0.6% |
| Q2 2025 | $2.1B | -2.8% |
| Q1 2025 | $2.2B | -1.9% |
| Q4 2024 | $2.3B | +17% |
SJM's revenue has grown year over year for four quarters in a row: $2.2B last quarter, up 5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 23% | +21 points |
| Q2 2026 | 20% | +48 points |
| Q1 2026 | -23% | +3.7 points |
| Q4 2025 | 18% | +11 points |
| Q3 2025 | 2.2% | -14 points |
| Q2 2025 | -28% | -46 points |
| Q1 2025 | -27% | -41 points |
| Q4 2024 | 7.5% | -8 points |
SJM's operating margin was 23% last quarter, up 21 points from the same quarter a year ago, near the top of its range since 2019.
SJM Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $337.3M | +$432.2M |
| Q2 2026 | $483.9M | +62% |
| Q1 2026 | $487M | +222% |
| Q4 2025 | $280.2M | -12% |
| Q3 2025 | -$94.9M | -293% |
| Q2 2025 | $298.9M | +0.5% |
| Q1 2025 | $151.3M | -39% |
| Q4 2024 | $317.2M | +1025% |
SJM generated $1.6B in free cash flow over the past year, up 136% from the year before.
SJM Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.2% | +161K shares |
| 1 year | +0.1% | +138K shares |
| 3 years | +4.6% | +4.7M shares |
| 5 years | -1.2% | -1.3M shares |
| Available history | -5.8% | -6.6M shares |
SJM has 107M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $5.7M |
| Q2 2026 | $400,000 |
| Q1 2026 | $200,000 |
| Q4 2025 | $400,000 |
| Q3 2025 | $4.6M |
| Q2 2025 | $200,000 |
| Q1 2025 | $400,000 |
| Q4 2024 | $100,000 |
SJM has spent almost nothing on buybacks in the past year.
SJM Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 4.9x | High |
| Q2 2026 | 7.6x | High |
| Q1 2025 | 9.3x | High |
| Q4 2024 | 4.8x | High |
| Q3 2024 | 4.6x | High |
| Q2 2024 | 4.8x | High |
| Q1 2024 | 12.8x | High |
| Q4 2023 | 6.1x | High |
SJM's net debt is about 4.9 years of its operating earnings (EBITDA), up from 4.6 years a year ago.
SJM Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 65.2 | Neutral |
| Stochastic | 74.3 | Neutral |
SJM's weekly RSI is 65 (neutral) and its Stochastic is 74 (neutral).
SJM PE vs Consumer Defensive Sector
| Metric | SJM | Sector median | Relative |
|---|---|---|---|
| PE | 62x | 19x | 216% above |
| PE % | 100 | 18 | 82 pts above |
SJM is trading at 62x earnings, a 216% premium to the Consumer Defensive sector's median of 19x.
SJM Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $126.0 | 4.6% above |
| 20 week MA | $122.7 | 7.4% above |
| 50 week MA | $110.9 | 19% above |
| 100 week MA | $109.7 | 20% above |
| 200 week MA | $119.3 | 10% above |
SJM has climbed back above all five of its weekly moving averages, and it's now 10% above its 200-week average.
SJM Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $103.1 | $116.1 | +13% |
| 2021 | $116.1 | $133.0 | +15% |
| 2022 | $133.0 | $159.4 | +20% |
| 2023 | $159.4 | $126.4 | -21% |
| 2024 | $126.4 | $110.6 | -12% |
| 2025 | $110.6 | $99.7 | -9.9% |
| 2026 YTD | $99.7 | $131.7 | +32% |
SJM has finished three years in a row lower, and it's up 32% so far in 2026.