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Arphra AIPlain-English read on The J. M. Smucker Company’s valuationIncome statement
| In USD | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | 2027E | 2028E | 2029E | 2030E |
|---|---|---|---|---|---|---|---|---|---|
| Revenue & profit | |||||||||
| Revenue | $8B | $8B | $8.53B | $8.18B | $8.73B | $9.12B | $9.26B | $9.44B | $9.52B |
| Cost of revenue | $4.86B | $5.3B | $5.73B | $5.06B | $5.34B | $5.73B | $5.73B | $6.06B | $5.86B |
| Gross profit | $3.14B | $2.7B | $2.8B | $3.12B | $3.38B | $3.33B | $3.33B | $3.38B | $3.4B |
| Gross margin | +39.22% | +33.76% | +32.85% | +38.09% | +38.79% | +36.48% | +35.92% | +35.77% | +35.74% |
| Operating | |||||||||
| Research & development | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Selling, general & administrative | $1.52B | $1.36B | $1.46B | $1.45B | $1.53B | $1.6B | $1.63B | $1.64B | $1.62B |
| Total operating expenses | $1.75B | $1.68B | $2.64B | $1.81B | $4.06B | $3B | $3.05B | $3.07B | $3.23B |
| Operating income | $1.39B | $1.02B | $157.5M | $1.31B | -$673.9M | $299.11M | $313.61M | $321.67M | $313.12M |
| Operating margin | +17.33% | +12.80% | +1.85% | +15.97% | -7.72% | +3.28% | +3.39% | +3.41% | +3.29% |
| EBITDA | $1.8B | $1.46B | $573.8M | $1.69B | -$155.6M | $796.12M | $779.36M | $792.76M | $813.19M |
| EBIT | $1.35B | $1B | $142.8M | $1.26B | -$658.1M | $297.42M | $288.45M | $297.57M | $296.14M |
| Below the line | |||||||||
| Interest expense | $177.1M | $160.9M | $152M | $250.7M | $358.5M | $273.12M | $276.18M | $288.44M | $286.97M |
| Interest income | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other income / expense | -$214.9M | -$180M | -$166.7M | -$309.4M | -$372.9M | — | — | — | — |
| Pre-tax income | $1.17B | $843.8M | -$9.2M | $996.4M | -$1.05B | $2.46M | $2.38M | $2.41M | $2.48M |
| Income tax expense | $295.6M | $212.1M | $82.1M | $252.4M | $184M | $618.34K | $603.32K | $631.48K | $620.97K |
| Earnings | |||||||||
| Net income | $876.3M | $631.7M | -$91.3M | $744M | -$1.23B | -$184.03M | -$190.82M | -$194.56M | -$189.49M |
| Net income · continuing ops | $876.3M | $631.7M | -$91.3M | $744M | -$1.23B | -$182.14M | -$185.53M | -$195.02M | -$188.95M |
| Net margin | +10.95% | +7.90% | -1.07% | +9.10% | -14.10% | -2.02% | -2.06% | -2.06% | -1.99% |
| EPS · basic | $7.79 | $5.84 | $-0.86 | $7.14 | $-11.57 | $9.78 | $10.69 | $11.37 | $11.00 |
| EPS · diluted | $7.79 | $5.83 | $-0.86 | $7.13 | $-11.57 | $9.91 | $10.78 | $11.33 | $11.13 |
| EPS · low estimate | — | — | — | — | — | $8.78 | $9.81 | $10.05 | $10.88 |
| EPS · high estimate | — | — | — | — | — | $10.27 | $11.67 | $12.61 | $11.44 |
| Shares · basic | 112.4M | 108.2M | 106.2M | 104.1M | 106.4M | 106.44M | 106.12M | 106.35M | 106.73M |
| Shares · diluted | 112.4M | 108.4M | 106.2M | 104.4M | 106.4M | 105.73M | 107.3M | 105.4M | 106.02M |
| Coverage | |||||||||
| Analysts (revenue) | — | — | — | — | — | 14 | 12 | 3 | 1 |
| Analysts (EPS) | — | — | — | — | — | 7 | 6 | 2 | 1 |
Coverage notes. Historical figures come from FMP’s as-reported income statements / balance sheets / cash flows in our data warehouse. Forecast columns (italicised, faint accent tint) carry vendor-supplied numbers where available (revenue + EPS from FMP consensus) and ratio-derived values for every other line. Margins / ratios are the trailing-3y average from history applied to the forecast revenue; values are clamped to enforce P&L identity (gross ≥ operating, EBITDA ≥ operating, net ≤ operating) and balance-sheet identity (assets = liabilities + equity by construction). Cash-flow FCF reconciles to OCF + CapEx. USD conversion uses the period-end close of the issuer's reported/USD pair from forex_prices_daily; share counts stay unconverted.
Financials
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