NASDAQ : MZTI
The Marzetti Company — Financial statements
Consumer Staples · Packaged Foods · United States
Last price 109.74 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 2.99B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
The Marzetti Company (MZTI) reported revenue of 1.93B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 1.93B | 1.93B | 1.91B | 1.87B | 1.82B | 1.68B |
| Cost of Revenue | 1.45B | 1.45B | 1.45B | 1.44B | 1.43B | 1.32B |
| Gross Profit | 477.29M | 477.29M | 455.65M | 434.90M | 388.57M | 355.72M |
| Selling, General & Admin | 240.09M | 240.09M | 226.45M | 218.06M | 222.09M | 207.66M |
| Amortization of Goodwill & Intangibles | 4.44M | |||||
| Other Operating Expenses | -52.00K | -52.00K | 1.37M | |||
| Operating Expenses | 240.04M | 240.04M | 226.45M | 219.44M | 222.09M | 212.10M |
| Operating Income | 237.25M | 237.25M | 229.20M | 215.46M | 166.48M | 143.62M |
| Interest Expense | -2.20M | -2.20M | -78.00K | -66.00K | -97.00K | -153.00K |
| Other Non Operating Income (Expenses) | 5.46M | 5.46M | 7.19M | 6.22M | 1.89M | 630.00K |
| EBT Excluding Unusual Items | 240.51M | 240.51M | 236.31M | 221.62M | 168.27M | 144.10M |
| Merger & Restructuring Charges | -15.91M | -15.91M | -8.88M | -16.10M | -26.38M | |
| Gain (Loss) on Sale of Assets | 18.47M | 18.47M | ||||
| Asset Writedown | -1.10M | -1.10M | -24.97M | -8.80M | ||
| Other Unusual Items | -13.97M | 3.47M | ||||
| Pretax Income | 241.97M | 241.97M | 213.46M | 205.51M | 143.30M | 112.39M |
| Income Tax Expense | 50.36M | 50.36M | 46.12M | 46.90M | 32.01M | 22.80M |
| Net Income | 191.61M | 191.61M | 167.35M | 158.61M | 111.29M | 89.59M |
| Preferred Dividends & Other Adjustments | 374.00K | 374.00K | 455.00K | 413.00K | 257.00K | 224.00K |
| Net Income to Common | 191.23M | 191.23M | 166.89M | 158.20M | 111.03M | 89.36M |
| Shares Outstanding (Basic) | 27.39M | 27.39M | 27.47M | 27.44M | 27.46M | 27.45M |
| Shares Outstanding (Diluted) | 27.41M | 27.41M | 27.49M | 27.46M | 27.48M | 27.47M |
| EPS (Basic) | 6.98 | 6.98 | 6.08 | 5.77 | 4.04 | 3.26 |
| EPS (Diluted) | 6.98 | 6.98 | 6.07 | 5.76 | 4.04 | 3.25 |
| Free Cash Flow | 206.14M | 206.14M | 203.50M | 183.98M | 135.72M | -30.16M |
| Free Cash Flow Per Share | 7.52 | 7.52 | 7.40 | 6.70 | 4.94 | -1.10 |
| Dividend Per Share | 3.95 | 3.95 | 3.75 | 3.55 | 3.35 | 3.15 |
| Gross Margin | 24.73% | 24.73% | 23.87% | 23.23% | 21.32% | 21.22% |
| Operating Margin | 12.29% | 12.29% | 12.01% | 11.51% | 9.13% | 8.57% |
| Profit Margin | 9.91% | 9.91% | 8.74% | 8.45% | 6.09% | 5.33% |
| Free Cash Flow Margin | 10.68% | 10.68% | 10.66% | 9.83% | 7.45% | -1.80% |
| EBITDA | 305.19M | 305.19M | 288.37M | 268.96M | 217.69M | 189.50M |
| EBITDA Margin | 15.82% | 15.82% | 15.10% | 14.37% | 11.94% | 11.30% |
| D&A For EBITDA | 67.95M | 67.95M | 59.17M | 53.50M | 51.21M | 45.88M |
| EBIT | 237.25M | 237.25M | 229.20M | 215.46M | 166.48M | 143.62M |
| EBIT Margin | 12.29% | 12.29% | 12.01% | 11.51% | 9.13% | 8.57% |
| Effective Tax Rate | 20.81% | 20.81% | 21.60% | 22.82% | 22.34% | 20.29% |
Balance sheet
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 25.10M | 25.10M | 161.48M | 163.44M | 88.47M | 60.28M |
| Cash & Short-Term Investments | 25.10M | 25.10M | 161.48M | 163.44M | 88.47M | 60.28M |
| Receivables | 105.49M | 105.49M | 95.82M | 95.56M | 114.97M | 135.50M |
| Inventory | 205.06M | 205.06M | 169.30M | 173.25M | 158.26M | 144.70M |
| Other Current Assets | 25.32M | 25.32M | 17.04M | 11.74M | 12.76M | 11.30M |
| Total Current Assets | 360.96M | 360.96M | 443.63M | 443.99M | 374.46M | 351.78M |
| Property, Plant & Equipment | 594.18M | 594.18M | 586.77M | 532.82M | 506.95M | 479.55M |
| Goodwill | 500.47M | 500.47M | 222.77M | 208.37M | 208.37M | 208.37M |
| Other Intangible Assets | 132.99M | 132.99M | 7.66M | 4.84M | 32.32M | |
| Other Long-Term Assets | 16.41M | 16.41M | 13.89M | 21.74M | 18.37M | 18.35M |
| Total Assets | 1.61B | 1.61B | 1.27B | 1.21B | 1.11B | 1.09B |
| Accounts Payable | 156.78M | 156.78M | 117.96M | 118.81M | 111.76M | 114.97M |
| Accrued Expenses | 49.33M | 49.33M | 52.36M | 49.96M | 44.24M | 37.60M |
| Current Portion of Long-Term Debt | 10.00M | 10.00M | ||||
| Current Portion of Leases | 11.31M | 11.31M | 11.72M | 12.33M | 10.77M | 11.42M |
| Current Income Taxes Payable | 4.11M | 4.11M | 4.25M | 2.87M | 1.98M | 1.59M |
| Total Current Liabilities | 231.54M | 231.54M | 186.29M | 183.97M | 168.75M | 165.59M |
| Long-Term Debt | 189.28M | 189.28M | ||||
| Long-Term Leases | 43.20M | 43.20M | 43.84M | 45.34M | 19.22M | 24.81M |
| Pension & Post-Retirement Benefits | 921.00K | 1.07M | 2.68M | |||
| Long-Term Deferred Tax Liabilities | 76.66M | 76.66M | 34.12M | 37.28M | 47.33M | 38.89M |
| Other Long-Term Liabilities | 11.20M | 11.20M | 11.98M | 13.65M | 14.36M | 13.72M |
| Total Liabilities | 551.87M | 551.87M | 276.23M | 281.16M | 250.73M | 245.69M |
| Common Stock | 168.97M | 168.97M | 160.89M | 153.62M | 143.87M | 137.81M |
| Retained Earnings | 1.71B | 1.71B | 1.63B | 1.56B | 1.50B | 1.49B |
| Treasury Stock | -828.11M | -828.11M | -791.84M | -783.85M | -776.20M | -767.00M |
| Comprehensive Income & Other | 957.00K | 957.00K | 961.00K | -8.64M | -9.37M | -11.17M |
| Shareholders' Equity | 1.05B | 1.05B | 998.50M | 925.77M | 862.27M | 844.69M |
| Total Liabilities & Equity | 1.61B | 1.61B | 1.27B | 1.21B | 1.11B | 1.09B |
| Total Debt | 253.78M | 253.78M | 55.55M | 57.67M | 29.99M | 36.23M |
| Net Cash (Debt) | -228.69M | -228.69M | 105.92M | 105.78M | 58.49M | 24.05M |
| Net Cash Per Share | -8.34 | -8.34 | 3.85 | 3.85 | 2.13 | 0.88 |
| Filing Date Shares Outstanding | 27.29M | 27.29M | 27.53M | 27.53M | 27.53M | 27.52M |
| Total Common Shares Outstanding | 27.29M | 27.29M | 27.53M | 27.53M | 27.53M | 27.52M |
| Working Capital | 129.43M | 129.43M | 257.34M | 260.02M | 205.71M | 186.20M |
| Book Value Per Share | 38.59 | 38.59 | 36.26 | 33.63 | 31.32 | 30.69 |
| Tangible Book Value | 419.68M | 419.68M | 768.06M | 717.40M | 649.06M | 603.99M |
| Tangible Book Value Per Share | 15.38 | 15.38 | 27.90 | 26.06 | 23.58 | 21.95 |
| Land | 357.71M | 357.71M | 347.49M | 297.91M | 297.61M | 223.53M |
| Machinery | 604.61M | 604.61M | 579.64M | 536.94M | 513.46M | 423.13M |
| Construction In Progress | 66.42M | 66.42M | 40.88M | 42.68M | 42.64M | 138.96M |
Cash flow statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | 191.61M | 191.61M | 167.35M | 158.61M | 111.29M | 89.59M |
| Depreciation & Amortization | 67.95M | 67.95M | 59.17M | 53.50M | 51.21M | 45.88M |
| Other Amortization | 3.50M | 3.50M | 3.00M | 2.40M | ||
| Loss (Gain) From Sale of Assets | -18.47M | -18.47M | -22.00K | -209.00K | -123.00K | |
| Asset Writedown & Restructuring Costs | 592.00K | 592.00K | 5.10M | 13.66M | 24.97M | 32.28M |
| Stock-Based Compensation | 10.17M | 10.17M | 8.98M | 11.36M | 9.08M | 9.56M |
| Other Operating Activities | 31.35M | 31.35M | 14.75M | -6.13M | 9.45M | -1.79M |
| Change in Accounts Receivable | -835.00K | -835.00K | -257.00K | 19.41M | 20.53M | -37.60M |
| Change in Inventory | -26.68M | -26.68M | 8.02M | -14.99M | -13.56M | -22.83M |
| Change in Accounts Payable | 30.27M | 30.27M | -1.27M | 14.40M | 14.61M | -17.09M |
| Change in Other Net Operating Assets | -5.64M | -5.64M | -3.33M | -637.00K | -1.46M | 3.92M |
| Operating Cash Flow | 283.82M | 283.82M | 261.50M | 251.55M | 225.90M | 101.81M |
| Capital Expenditures | -77.68M | -77.68M | -58.00M | -67.58M | -90.18M | -131.97M |
| Sale of Property, Plant & Equipment | 20.32M | 20.32M | 6.97M | 1.21M | 368.00K | |
| Cash Acquisitions | -399.29M | -399.29M | -78.82M | |||
| Other Investing Activities | -13.40M | -13.40M | -11.39M | -6.83M | -1.81M | -636.00K |
| Investing Cash Flow | -470.04M | -470.04M | -148.21M | -67.43M | -90.78M | -132.24M |
| Long-Term Debt Issued | 224.09M | 224.09M | ||||
| Long-Term Debt Repaid | -27.13M | -27.13M | -2.05M | -1.96M | -2.33M | -2.65M |
| Net Debt Issued (Repaid) | 196.96M | 196.96M | -2.05M | -1.96M | -2.33M | -2.65M |
| Repurchase of Common Stock | -38.35M | -38.35M | -9.70M | -9.26M | -12.23M | -7.93M |
| Common Dividends Paid | -108.76M | -108.76M | -103.50M | -97.93M | -92.37M | -86.76M |
| Financing Cash Flow | 49.84M | 49.84M | -115.26M | -109.15M | -106.93M | -97.34M |
| Net Cash Flow | -136.38M | -136.38M | -1.97M | 74.97M | 28.19M | -127.77M |
| Free Cash Flow | 206.14M | 206.14M | 203.50M | 183.98M | 135.72M | -30.16M |
| Free Cash Flow Margin | 10.68% | 10.68% | 10.66% | 9.83% | 7.45% | -1.80% |
| Free Cash Flow Per Share | 7.52 | 7.52 | 7.40 | 6.70 | 4.94 | -1.10 |
| Levered Free Cash Flow | 132.78M | 132.78M | 157.68M | 153.40M | 83.42M | -53.31M |
| Unlevered Free Cash Flow | 134.16M | 134.16M | 157.73M | 153.44M | 83.49M | -53.21M |
| Cash Income Tax Paid | 33.11M | 33.11M | 52.52M | 53.58M | 26.33M | 17.83M |
| Change in Working Capital | -2.88M | -2.88M | 3.15M | 18.18M | 20.11M | -73.59M |
Ratios
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 3.01B | 3.13B | 4.76B | 5.20B | 5.53B | 3.54B |
| Enterprise Value | 3.24B | 2.95B | 4.68B | 5.05B | 5.47B | 3.51B |
| Last Close Price | 109.74 | 113.08 | 166.61 | 178.46 | 186.18 | 117.16 |
| PE Ratio | 15.79 | 16.37 | 28.54 | 32.88 | 49.85 | 39.66 |
| Forward PE | 16.44 | 16.12 | 25.04 | 27.71 | 30.34 | 30.54 |
| PS Ratio | 1.55 | 1.62 | 2.50 | 2.78 | 3.04 | 2.11 |
| PB Ratio | 2.84 | 2.97 | 4.77 | 5.62 | 6.42 | 4.20 |
| P/TBV Ratio | 7.11 | 7.46 | 6.20 | 7.25 | 8.53 | 5.87 |
| P/FCF Ratio | 14.47 | 15.19 | 23.41 | 28.27 | 40.78 | |
| P/OCF Ratio | 10.51 | 11.03 | 18.21 | 20.68 | 24.50 | 34.81 |
| PEG Ratio | 2.72 | 2.72 | 2.72 | 2.72 | 2.72 | |
| EV/Sales Ratio | 1.66 | 1.53 | 2.45 | 2.70 | 3.00 | 2.09 |
| EV/EBITDA Ratio | 10.53 | 9.66 | 16.23 | 18.77 | 25.12 | 18.52 |
| EV/EBIT Ratio | 13.54 | 12.43 | 20.42 | 23.43 | 32.85 | 24.44 |
| EV/FCF Ratio | 15.58 | 14.31 | 23.00 | 27.44 | 40.30 | |
| Debt / Equity Ratio | 0.24 | 0.24 | 0.06 | 0.06 | 0.04 | 0.04 |
| Debt / EBITDA Ratio | 0.79 | 0.79 | 0.18 | 0.20 | 0.13 | 0.18 |
| Debt / FCF Ratio | 1.23 | 1.23 | 0.27 | 0.31 | 0.22 | |
| Net Debt / Equity Ratio | 0.22 | 0.22 | -0.11 | -0.11 | -0.07 | -0.03 |
| Net Debt / EBITDA Ratio | 0.75 | 0.75 | -0.37 | -0.39 | -0.27 | -0.13 |
| Net Debt / FCF Ratio | 1.11 | 1.11 | -0.52 | -0.57 | -0.43 | 0.80 |
| Asset Turnover | 1.34 | 1.34 | 1.54 | 1.61 | 1.65 | 1.53 |
| Inventory Turnover | 7.76 | 7.76 | 8.49 | 8.67 | 9.47 | 9.91 |
| Quick Ratio | 0.56 | 0.56 | 1.38 | 1.41 | 1.21 | 1.18 |
| Current Ratio | 1.56 | 1.56 | 2.38 | 2.41 | 2.22 | 2.12 |
| Return on Equity (ROE) | 18.68% | 18.68% | 17.39% | 17.74% | 13.04% | 10.62% |
| Return on Assets (ROA) | 10.30% | 10.30% | 11.54% | 11.61% | 9.44% | 8.19% |
| Return on Invested Capital (ROIC) | 17.51% | 17.28% | 20.98% | 20.48% | 15.92% | 15.17% |
| Return on Capital Employed (ROCE) | 17.30% | 17.30% | 21.10% | 21.10% | 17.60% | 15.50% |
| Earnings Yield | 6.33% | 6.12% | 3.51% | 3.05% | 2.01% | 2.53% |
| FCF Yield | 6.91% | 6.59% | 4.27% | 3.54% | 2.45% | -0.85% |
| Dividend Yield | 3.64% | 3.44% | 2.17% | 1.88% | 1.67% | 2.45% |
| Payout Ratio | 57.31% | 56.76% | 61.85% | 61.74% | 83.00% | 96.85% |
| Buyback Yield / Dilution | 0.30% | 0.30% | -0.10% | 0.08% | -0.04% | 0.17% |
| Total Shareholder Return | 3.96% | 3.75% | 2.07% | 1.96% | 1.63% | 2.61% |