Forensic Analysis · Packaged Foods · as of Nov 8, 2026
J M Smucker Co (SJM)
A forensic read on J M Smucker Co built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Distress
Financial health
0.5
Distress distance
Clean
Earnings quality
2
Forensic signals
-2.4%
ROE
3.7%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (auditor quality, say on pay, board independence, going concern). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
J M Smucker Co earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 0.5, placing it in the Distress zone. 2 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
2.0%
FY2026
Return on invested capital.Return on invested capital is 2.0% in the latest fiscal year, against 5.6% in FY2024, having run between -3.3% and 5.6% across FY2024–FY2026 with no direction held. After-tax operating profit was $975M in FY2024 and $285M in FY2026, with operating income at 16.0% of revenue in FY2024, -7.7% in FY2025 and 4.0% in FY2026. The capital base behind it came down -18% across FY2024–FY2026, from $17.4B to $14.3B, so this return is struck on a smaller base than it started on. FY2026's operating profit carried a $508M goodwill write-off and a $21M restructuring charge that alone took about 2.9 points off that year's return, so about 2.9 of the 3.6-point fall across FY2024–FY2026 is that charge landing in the latest year rather than the capital earning less. FY2025's operating profit carried a $2.0B asset write-down, a $1.7B goodwill write-off and a $36M restructuring charge that alone took about 18.0 points off that year's return; FY2025 sits between the two ends of FY2024–FY2026, so the charge shapes the path between them without moving the change across it. A non-cash write-down lowers the reported return in the year it lands.
$2.2B
FY2025–FY2026
Goodwill impairments.Took $2.2B of goodwill writedowns across 2 years (FY2025 ($1.7B), FY2026 ($508M)). Writedowns mean past acquisitions underperformed what was paid for them.
Key fundamentals
Latest Revenue$9.05B
Revenue Growth YoY+3.7%
Revenue CAGR (2yr)+5.2%
Net Margin-1.5%
Free Cash Flow$1.16B
Return on Equity-2.4%
Debt / Equity1.18x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from J M Smucker Co's actual 10-K/10-Q/8-K filings?