SJM (SJM) financial statements
SJM reported revenue of $9.1B in fiscal 2026, up 2.3% a year over 9 years.
Net income was -$139M and the operating margin 4.0%, against 14.1% in 2017.
Free cash flow was $1.2B, and the company returned $465M in dividends and $6M in net buybacks.
The diluted share count fell 6% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from SJM's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.4B | $7.4B | $7.8B | $7.8B | $8.0B | $8.0B | $8.5B | $8.2B | $8.7B | $9.1B |
| Cost of revenue | $4.6B | $4.5B | $4.9B | $4.8B | $4.9B | $5.3B | $5.7B | $5.1B | $5.3B | $6.0B |
| Gross profit | $2.8B | $2.8B | $2.9B | $3.0B | $3.1B | $2.7B | $2.8B | $3.1B | $3.4B | $3.0B |
| Research and development | $58M | — | — | — | — | — | — | — | — | — |
| Selling, general and admin | $1.4B | $1.4B | $1.5B | $1.5B | $1.5B | $1.4B | $1.5B | $1.4B | $1.5B | $1.5B |
| Operating income | $1.0B | $1.0B | $929M | $1.2B | $1.4B | $1.0B | $158M | $1.3B | -$674M | $360M |
| Pre-tax income | $878M | $861M | $702M | $1.0B | $1.2B | $844M | -$9M | $996M | -$1.0B | -$62M |
| Income tax | $286M | -$478M | $187M | $247M | $296M | $212M | $82M | $252M | $184M | $76M |
| Net income | $592M | $1.3B | $514M | $780M | $876M | $632M | -$91M | $744M | -$1.2B | -$139M |
| EPS (diluted) | $5.10 | $11.78 | $4.52 | $6.84 | $7.79 | $5.83 | -$0.86 | $7.13 | -$11.57 | -$1.30 |
| Diluted shares | 116M | 113M | 113M | 113M | 112M | 108M | — | — | — | — |
| Gross margin | 38.4% | 38.5% | 37.2% | 38.5% | 39.2% | 33.8% | 32.8% | 38.1% | 38.8% | 33.5% |
| Operating margin | 14.1% | 14.2% | 11.8% | 15.7% | 17.3% | 12.8% | 1.8% | 16.0% | -7.7% | 4.0% |
| Net margin | 8.0% | 18.2% | 6.6% | 10.0% | 11.0% | 7.9% | -1.1% | 9.1% | -14.1% | -1.5% |
Balance sheet
Fiscal years, from SJM's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $167M | $193M | $101M | $391M | $334M | $170M | $656M | $62M | $70M | $59M |
| Receivables | $439M | $386M | $504M | $551M | $534M | $525M | $598M | $736M | $619M | $656M |
| Inventory | $906M | $854M | $910M | $895M | $960M | $1.1B | $1.0B | $1.0B | $1.2B | $1.1B |
| Total current assets | $1.6B | $1.6B | $1.6B | $2.0B | $1.9B | $2.0B | $2.9B | $2.0B | $2.1B | $2.0B |
| Property, plant and equipment | $1.6B | $1.7B | $1.9B | $2.0B | $2.0B | $2.1B | $2.2B | $3.1B | $3.1B | $3.0B |
| Goodwill | $6.1B | $5.9B | $6.3B | $6.3B | $6.0B | $6.0B | $5.2B | $7.6B | $5.7B | $5.2B |
| Total assets | $15.6B | $15.3B | $16.7B | $17.0B | $16.3B | $16.1B | $15.0B | $20.3B | $17.6B | $16.2B |
| Total current liabilities | $1.8B | $1.0B | $2.3B | $1.6B | $2.9B | $2.0B | $2.0B | $3.8B | $2.7B | $2.5B |
| Long-term debt | $4.4B | $4.7B | $4.7B | $5.4B | $3.5B | $4.3B | $4.3B | $6.8B | $7.0B | $6.4B |
| Total liabilities | $8.8B | $7.4B | $8.7B | $8.8B | $8.2B | $7.9B | $7.7B | $12.6B | $11.5B | $10.7B |
| Shareholders' equity | $6.9B | $7.9B | $8.0B | $8.2B | $8.1B | $8.1B | $7.3B | $7.7B | $6.1B | $5.5B |
| Net debt | $4.8B | $4.5B | $5.4B | $5.0B | $4.3B | $4.1B | $3.7B | $7.7B | $7.0B | $6.5B |
Cash flow
Fiscal years, from SJM's 10-K filings with the SEC.
| Fiscal year | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.1B | $1.2B | $1.1B | $1.3B | $1.6B | $1.1B | $1.2B | $1.2B | $1.2B | $1.5B |
| Capital spending | $192M | $322M | $360M | $269M | $307M | $418M | $477M | $586M | $394M | $317M |
| Free cash flow | $867M | $896M | $781M | $986M | $1.3B | $719M | $717M | $643M | $817M | $1.2B |
| Stock-based compensation | $22M | $15M | $21M | $27M | $29M | $22M | $26M | $24M | $30M | $24M |
| Dividends paid | $339M | $350M | $378M | $397M | $403M | $418M | $430M | $438M | $455M | $465M |
| Share buybacks (net) | -$438M | -$7M | -$5M | -$4M | -$678M | -$270M | -$368M | -$373M | -$3M | -$6M |
| Net borrowing | -$30M | -$561M | $1.1B | -$288M | -$866M | -$262M | -$186M | $3.1B | -$631M | -$752M |
| Free cash flow margin | 11.7% | 12.2% | 10.0% | 12.6% | 15.7% | 9.0% | 8.4% | 7.9% | 9.4% | 12.8% |
| Dividends per share | $2.94 | $3.10 | $3.34 | $3.50 | $3.60 | $3.86 | — | — | — | — |
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Open SJM in InvestinglyQuestions
What was SJM's revenue in 2026?
$9.1B in fiscal 2026, from its 10-K filing.
How much free cash flow does SJM generate?
$1.2B in fiscal 2026 (operating cash flow minus capital spending).
From SJM's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.