The Marzetti Company (MZTI) 10-Year Financial Performance & Capital Metrics

MZTI • • Industrial / General

Consumer DefensivePackaged FoodsTraditional Packaged FoodsSpecialty & Ethnic Foods

AboutManufactures and markets specialty food products (garlic breads, rolls, dressings, dips, pasta, croutons), serving retail and foodservice channels in the U.S.Show more

Revenue $1.91B +2.0%
EBITDA $282M +10.7%
Net Income $167M +5.5%
EPS (Diluted) 6.07 +5.4%
Gross Margin 23.87% +3.3%
EBITDA Margin 14.8% +8.5%
Operating Margin 11.54% +8.3%
Net Margin 8.77% +3.4%
ROE 17.39% -2.0%
ROIC 19.3% +4.8%
Debt/Equity 0.06 -10.7%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 16.1%
✓Healthy dividend yield of 2.2%
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.62%

5Y7.43%

3Y4.43%

TTM3.16%

Profit (Net Income) CAGR

10Y5.11%

5Y4.09%

3Y23.16%

TTM6.57%

EPS CAGR

10Y5.02%

5Y4.08%

3Y23.15%

TTM6.57%

ROCE

10Y Avg22.14%

5Y Avg17.82%

3Y Avg18.76%

Latest20.87%

Peer Comparison

Specialty & Ethnic Foods

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MZTIThe Marzetti Company	4.67B	169.73	27.96	2%	8.77%	17.05%	4.36%	0.06
DDCDDC Enterprise Limited	72.97M	3.22	-0.20	33.02%	-62.27%	-227.66%		2.34
HAINThe Hain Celestial Group, Inc.	107.77M	1.19	-0.20	-10.17%	-34.69%	-119.51%		1.64
PLAGPlanet Green Holdings Corp.	23.83M	2.54	-2.51	-61.89%	-430.81%	-47.08%	3.87%	0.18
MWYNMarwynn Holdings, Inc. Common stock	18.92M	0.94	-3.23	-6.84%	-64.01%	-297.62%		0.86

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	1.19B	1.2B	1.22B	1.31B	1.33B	1.47B	1.68B	1.82B	1.87B	1.91B
Revenue Growth %	0.08%	0.01%	0.02%	0.07%	0.02%	0.1%	0.14%	0.09%	0.03%	0.02%
Cost of Goods Sold+	891.48M	883.06M	919.42M	981.59M	976.35M	1.08B	1.32B	1.43B	1.44B	1.45B
COGS % of Revenue	0.75%	0.73%	0.75%	0.75%	0.73%	0.74%	0.79%	0.79%	0.77%	0.76%
Gross Profit+	299.63M	318.78M	303.51M	326.2M	358.04M	386.72M	355.72M	388.57M	432.3M	455.65M
Gross Margin %	0.25%	0.27%	0.25%	0.25%	0.27%	0.26%	0.21%	0.21%	0.23%	0.24%
Gross Profit Growth %	0.16%	0.06%	-0.05%	0.07%	0.1%	0.08%	-0.08%	0.09%	0.11%	0.05%
Operating Expenses+	115.06M	143.27M	129.91M	149.81M	182.09M	200.87M	243.81M	247.06M	232.94M	235.33M
OpEx % of Revenue	0.1%	0.12%	0.11%	0.11%	0.14%	0.14%	0.15%	0.14%	0.12%	0.12%
Selling, General & Admin	115.06M	143.27M	129.91M	149.81M	180.94M	205.36M	212.1M	222.09M	218.06M	230.23M
SG&A % of Revenue	0.1%	0.12%	0.11%	0.11%	0.14%	0.14%	0.13%	0.12%	0.12%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	1.14M	-4.49M	31.71M	24.97M	14.87M	5.1M
Operating Income+	184.57M	174.35M	171.55M	190.92M	175.95M	185.85M	111.91M	141.51M	199.36M	220.32M
Operating Margin %	0.15%	0.15%	0.14%	0.15%	0.13%	0.13%	0.07%	0.08%	0.11%	0.12%
Operating Income Growth %	0.19%	-0.06%	-0.02%	0.11%	-0.08%	0.06%	-0.4%	0.26%	0.41%	0.11%
EBITDA+	208.72M	199.26M	198.44M	222.77M	213.91M	230.36M	157.79M	192.72M	255.26M	282.49M
EBITDA Margin %	0.18%	0.17%	0.16%	0.17%	0.16%	0.16%	0.09%	0.11%	0.14%	0.15%
EBITDA Growth %	0.19%	-0.05%	-0%	0.12%	-0.04%	0.08%	-0.32%	0.22%	0.32%	0.11%
D&A (Non-Cash Add-back)	24.15M	24.91M	26.9M	31.85M	37.96M	44.51M	45.88M	51.21M	55.9M	62.17M
EBIT	184.57M	175.51M	173.6M	176.39M	177.09M	181.36M	143.62M	166.48M	214.24M	225.42M
Net Interest Income+	0	0	0	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	63K	1.16M	2.65M	4.62M	3.13M	-107K	477K	1.79M	6.15M	-6.85M
Pretax Income+	184.63M	175.52M	174.2M	195.54M	179.08M	185.75M	112.39M	143.3M	205.51M	213.46M
Pretax Margin %	0.16%	0.15%	0.14%	0.15%	0.13%	0.13%	0.07%	0.08%	0.11%	0.11%
Income Tax+	62.87M	60.2M	38.89M	44.99M	42.09M	43.41M	22.8M	32.01M	46.9M	46.12M
Effective Tax Rate %	0.66%	0.66%	0.78%	0.77%	0.76%	0.77%	0.8%	0.78%	0.77%	0.78%
Net Income+	121.76M	115.31M	135.31M	150.55M	136.98M	142.33M	89.59M	111.29M	158.61M	167.35M
Net Margin %	0.1%	0.1%	0.11%	0.12%	0.1%	0.1%	0.05%	0.06%	0.08%	0.09%
Net Income Growth %	0.2%	-0.05%	0.17%	0.11%	-0.09%	0.04%	-0.37%	0.24%	0.43%	0.06%
Net Income (Continuing)	121.76M	115.31M	135.31M	150.55M	136.98M	142.33M	89.59M	111.29M	158.61M	167.35M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	4.44	4.20	4.93	5.47	4.97	5.16	3.25	4.04	5.76	6.07
EPS Growth %	0.19%	-0.05%	0.17%	0.11%	-0.09%	0.04%	-0.37%	0.24%	0.43%	0.05%
EPS (Basic)	4.45	4.21	4.94	5.49	4.98	5.17	3.26	4.04	5.77	6.08
Diluted Shares Outstanding	27.37M	27.44M	27.46M	27.54M	27.5M	27.52M	27.47M	27.48M	27.46M	27.49M
Basic Shares Outstanding	27.34M	27.38M	27.4M	27.44M	27.45M	27.48M	27.45M	27.46M	27.44M	27.47M
Dividend Payout Ratio	1.56%	0.51%	0.48%	0.47%	0.55%	0.57%	0.97%	0.83%	0.62%	0.62%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	267.83M	301.15M	378.88M	368.57M	385.61M	423.48M	351.78M	374.46M	443.99M	443.63M
Cash & Short-Term Investments	118.08M	143.1M	205.75M	196.29M	198.27M	188.06M	60.28M	88.47M	163.44M	161.48M
Cash Only	118.08M	143.1M	205.75M	196.29M	198.27M	188.06M	60.28M	88.47M	163.44M	161.48M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	66.01M	69.92M	72.96M	75.69M	86.6M	97.9M	135.5M	114.97M	95.56M	95.82M
Days Sales Outstanding	20.23	21.24	21.78	21.13	23.69	24.36	29.5	23.02	18.63	18.32
Inventory	76.1M	76.38M	90.86M	86.07M	85.05M	121.88M	144.7M	158.26M	173.25M	169.3M
Days Inventory Outstanding	31.16	31.57	36.07	32.01	31.79	41.18	39.99	40.28	43.93	42.52
Other Current Assets	7.64M	11.74M	9.3M	10.52M	15.69M	15.65M	11.3M	12.76M	11.74M	17.04M
Total Non-Current Assets+	366.9M	415.26M	425.61M	536.83M	607.74M	677.8M	738.59M	738.53M	762.94M	831.09M
Property, Plant & Equipment	169.59M	180.67M	190.81M	247.04M	316.26M	387.08M	479.55M	506.95M	532.82M	586.77M
Fixed Asset Turnover	7.02x	6.65x	6.41x	5.29x	4.22x	3.79x	3.50x	3.60x	3.51x	3.25x
Goodwill	143.79M	168.03M	168.03M	208.37M	208.37M	208.37M	208.37M	208.37M	208.37M	222.77M
Intangible Assets	44.87M	60.16M	56.18M	70.28M	65.22M	58.77M	32.32M	4.84M	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	8.66M	6.4M	10.6M	11.14M	17.89M	23.59M	18.35M	18.37M	21.74M	21.55M
Total Assets+	634.73M	716.4M	804.49M	905.4M	993.35M	1.1B	1.09B	1.11B	1.21B	1.27B
Asset Turnover	1.88x	1.68x	1.52x	1.44x	1.34x	1.33x	1.54x	1.64x	1.55x	1.50x
Asset Growth %	-0.1%	0.13%	0.12%	0.13%	0.1%	0.11%	-0.01%	0.02%	0.08%	0.06%
Total Current Liabilities+	73M	76.62M	93.77M	119.71M	126.26M	173.92M	165.59M	168.75M	183.97M	186.29M
Accounts Payable	39.93M	41.35M	57.98M	76.67M	71.43M	110.34M	114.97M	111.76M	118.81M	117.96M
Days Payables Outstanding	16.35	17.09	23.02	28.51	26.7	37.28	31.78	28.45	30.13	29.62
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	21.57M	21.86M	23.14M	28.67M	32.82M	32.52M	16.3M	26.34M	31.57M	33.75M
Current Ratio	3.67x	3.93x	4.04x	3.08x	3.05x	2.43x	2.12x	2.22x	2.41x	2.38x
Quick Ratio	2.63x	2.93x	3.07x	2.36x	2.38x	1.73x	1.25x	1.28x	1.47x	1.47x
Cash Conversion Cycle	35.03	35.71	34.83	24.62	28.78	28.25	37.72	34.86	32.44	31.21
Total Non-Current Liabilities+	48.13M	63.8M	58.44M	58.82M	83.79M	84.22M	80.1M	81.97M	97.19M	89.94M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	19.47M	23.89M	24.81M	19.22M	45.34M	43.84M
Deferred Tax Liabilities	23.03M	26.45M	18.1M	23.82M	35.21M	39.95M	39.81M	48.18M	38.08M	34.86M
Other Non-Current Liabilities	25.1M	37.36M	40.34M	35M	29.11M	20.36M	15.47M	14.57M	13.77M	11.24M
Total Liabilities	121.13M	140.43M	152.21M	178.53M	210.05M	258.14M	245.69M	250.73M	281.16M	276.23M
Total Debt+	0	0	0	0	26.81M	33.27M	36.23M	29.99M	57.67M	55.55M
Net Debt	-118.08M	-143.1M	-205.75M	-196.29M	-171.46M	-154.78M	-24.05M	-58.49M	-105.78M	-105.92M
Debt / Equity	-	-	-	-	0.03x	0.04x	0.04x	0.03x	0.06x	0.06x
Debt / EBITDA	-	-	-	-	0.13x	0.14x	0.23x	0.16x	0.23x	0.20x
Net Debt / EBITDA	-0.57x	-0.72x	-1.04x	-0.88x	-0.80x	-0.67x	-0.15x	-0.30x	-0.41x	-0.37x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	513.6M	575.98M	652.28M	726.87M	783.3M	843.15M	844.69M	862.27M	925.77M	998.5M
Equity Growth %	-0.12%	0.12%	0.13%	0.11%	0.08%	0.08%	0%	0.02%	0.07%	0.08%
Book Value per Share	18.76	20.99	23.75	26.40	28.49	30.64	30.75	31.38	33.71	36.32
Total Shareholders' Equity	513.6M	575.98M	652.28M	726.87M	783.3M	843.15M	844.69M	862.27M	925.77M	998.5M
Common Stock	110.68M	115.17M	119.23M	122.84M	125.15M	128.62M	137.81M	143.87M	153.62M	160.89M
Retained Earnings	1.15B	1.21B	1.28B	1.36B	1.42B	1.48B	1.49B	1.5B	1.56B	1.63B
Treasury Stock	-736.07M	-736.93M	-738.03M	-745.45M	-750.9M	-759.44M	-767M	-776.2M	-783.85M	-791.84M
Accumulated OCI	-11.35M	-8.94M	-8.26M	-10.31M	-12.07M	-8.25M	-11.17M	-9.37M	-8.64M	961K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	142.59M	144.35M	160.71M	197.6M	170.77M	174.19M	101.81M	225.9M	251.55M	261.5M
Operating CF Margin %	0.12%	0.12%	0.13%	0.15%	0.13%	0.12%	0.06%	0.12%	0.13%	0.14%
Operating CF Growth %	0.07%	0.01%	0.11%	0.23%	-0.14%	0.02%	-0.42%	1.22%	0.11%	0.04%
Net Income	121.76M	115.31M	135.31M	150.55M	136.98M	142.33M	89.59M	111.29M	158.61M	167.35M
Depreciation & Amortization	24.15M	24.91M	26.9M	31.85M	37.96M	44.51M	45.88M	51.21M	55.9M	62.17M
Stock-Based Compensation	3.33M	4.25M	5.04M	5.97M	6.12M	7.13M	9.56M	9.08M	11.36M	8.98M
Deferred Taxes	-525K	2.35M	-8.5M	7.34M	11.4M	4.63M	2.23M	9.45M	-6.55M	495K
Other Non-Cash Items	-296K	283K	1.61M	-15.3M	-274K	-4.58M	28.14M	24.76M	14.05M	19.36M
Working Capital Changes	-4.41M	-1.62M	359K	17.19M	-21.42M	-19.83M	-73.59M	20.11M	18.18M	3.15M
Change in Receivables	-3.55M	-2.6M	-3.04M	-748K	-10.91M	-11.29M	-37.6M	20.53M	19.41M	-257K
Change in Inventory	1.8M	150K	-14.48M	6.28M	1.02M	-36.83M	-22.83M	-13.56M	-14.99M	8.02M
Change in Payables	-4.11M	3.79M	15.72M	14.74M	2.74M	31.82M	-17.09M	14.61M	14.4M	-1.27M
Cash from Investing+	-17.42M	-60.61M	-31.45M	-126.86M	-83.27M	-88.98M	-132.24M	-90.78M	-67.43M	-148.21M
Capital Expenditures	-16.67M	-27M	-31.02M	-70.88M	-82.64M	-87.86M	-131.97M	-90.18M	-67.58M	-58M
CapEx % of Revenue	0.01%	0.02%	0.03%	0.05%	0.06%	0.06%	0.08%	0.05%	0.04%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-740K	1.57M	-109K	-617K	-752K	-1.26M	-636K	-1.81M	143K	-11.39M
Cash from Financing+	-189.28M	-58.72M	-66.61M	-80.2M	-85.52M	-95.43M	-97.34M	-106.93M	-109.15M	-115.26M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-190.55M	-58.98M	-64.53M	-70.11M	-75.64M	-81.23M	-86.76M	-92.37M	-97.93M	-103.5M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.9M	-907K	-981K	-2.68M	-4.42M	-3.66M	-366K	-3.03M	-1.61M	-1.71M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	125.91M	117.35M	129.69M	126.72M	88.13M	86.32M	-30.16M	135.72M	183.98M	203.5M
FCF Margin %	0.11%	0.1%	0.11%	0.1%	0.07%	0.06%	-0.02%	0.07%	0.1%	0.11%
FCF Growth %	0.1%	-0.07%	0.11%	-0.02%	-0.3%	-0.02%	-1.35%	5.5%	0.36%	0.11%
FCF per Share	4.60	4.28	4.72	4.60	3.21	3.14	-1.10	4.94	6.70	7.40
FCF Conversion (FCF/Net Income)	1.17x	1.25x	1.19x	1.31x	1.25x	1.22x	1.14x	2.03x	1.59x	1.56x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	22.25%	21.17%	22.03%	21.83%	18.14%	17.5%	10.62%	13.04%	17.74%	17.39%
Return on Invested Capital (ROIC)	34.86%	31.57%	29.26%	29.31%	23.1%	21.44%	11.12%	13.07%	18.42%	19.3%
Gross Margin	25.16%	26.52%	24.82%	24.94%	26.83%	26.36%	21.22%	21.32%	23.1%	23.87%
Net Margin	10.22%	9.59%	11.06%	11.51%	10.27%	9.7%	5.34%	6.11%	8.47%	8.77%
Debt / Equity	-	-	-	-	0.03x	0.04x	0.04x	0.03x	0.06x	0.06x
FCF Conversion	1.17x	1.25x	1.19x	1.31x	1.25x	1.22x	1.14x	2.03x	1.59x	1.56x
Revenue Growth	7.84%	0.9%	1.75%	6.94%	2.03%	9.94%	14.27%	8.72%	2.7%	2%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Retail	-	-	-	656.62M	714.13M	828.96M	915.21M	2.25B	988.42M	1B
Retail Growth	-	-	-	-	8.76%	16.08%	10.40%	146.33%	-56.16%	1.52%
Foodservice	-	-	572.69M	651.17M	620.26M	638.1M	761.18M	2.78B	883.34M	905.71M
Foodservice Growth	-	-	-	13.70%	-4.75%	2.88%	19.29%	264.79%	-68.19%	2.53%
Retail	-	-	650.23M	-	-	-	-	-	-	-
Retail Growth	-	-	-	-	-	-	-	-	-	-
Specialty Foods	2.38B	2.4B	-	-	-	-	-	-	-	-
Specialty Foods Growth	-	0.90%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

The Marzetti Company (MZTI) has a price-to-earnings (P/E) ratio of 28.0x. This suggests investors expect higher future growth.

Growth & Financials

The Marzetti Company (MZTI) reported $1.94B in revenue for fiscal year 2025. This represents a 71% increase from $1.13B in 2012.

The Marzetti Company (MZTI) grew revenue by 2.0% over the past year. Growth has been modest.

Yes, The Marzetti Company (MZTI) is profitable, generating $169.8M in net income for fiscal year 2025 (8.8% net margin).

Dividend & Returns

Yes, The Marzetti Company (MZTI) pays a dividend with a yield of 2.22%. This makes it attractive for income-focused investors.

The Marzetti Company (MZTI) has a return on equity (ROE) of 17.4%. This is reasonable for most industries.

The Marzetti Company (MZTI) generated $298.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

US Stock Screener

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The Marzetti Company (MZTI) 10-Year Financial Performance & Capital Metrics

MZTI • • Industrial / General

Consumer DefensivePackaged FoodsTraditional Packaged FoodsSpecialty & Ethnic Foods

AboutManufactures and markets specialty food products (garlic breads, rolls, dressings, dips, pasta, croutons), serving retail and foodservice channels in the U.S.Show more

Revenue $1.91B +2.0%
EBITDA $282M +10.7%
Net Income $167M +5.5%
EPS (Diluted) 6.07 +5.4%
Gross Margin 23.87% +3.3%
EBITDA Margin 14.8% +8.5%
Operating Margin 11.54% +8.3%
Net Margin 8.77% +3.4%
ROE 17.39% -2.0%
ROIC 19.3% +4.8%
Debt/Equity 0.06 -10.7%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓High quality earnings: Operating CF exceeds net income
✓Good 3Y average ROE of 16.1%
✓Healthy dividend yield of 2.2%
✓Efficient asset utilization: 1.5x turnover

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y5.62%

5Y7.43%

3Y4.43%

TTM3.16%

Profit (Net Income) CAGR

10Y5.11%

5Y4.09%

3Y23.16%

TTM6.57%

EPS CAGR

10Y5.02%

5Y4.08%

3Y23.15%

TTM6.57%

ROCE

10Y Avg22.14%

5Y Avg17.82%

3Y Avg18.76%

Latest20.87%

Peer Comparison

Specialty & Ethnic Foods

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MZTIThe Marzetti Company	4.67B	169.73	27.96	2%	8.77%	17.05%	4.36%	0.06
DDCDDC Enterprise Limited	72.97M	3.22	-0.20	33.02%	-62.27%	-227.66%		2.34
HAINThe Hain Celestial Group, Inc.	107.77M	1.19	-0.20	-10.17%	-34.69%	-119.51%		1.64
PLAGPlanet Green Holdings Corp.	23.83M	2.54	-2.51	-61.89%	-430.81%	-47.08%	3.87%	0.18
MWYNMarwynn Holdings, Inc. Common stock	18.92M	0.94	-3.23	-6.84%	-64.01%	-297.62%		0.86

Profit & Loss

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Sales/Revenue+	1.19B	1.2B	1.22B	1.31B	1.33B	1.47B	1.68B	1.82B	1.87B	1.91B
Revenue Growth %	0.08%	0.01%	0.02%	0.07%	0.02%	0.1%	0.14%	0.09%	0.03%	0.02%
Cost of Goods Sold+	891.48M	883.06M	919.42M	981.59M	976.35M	1.08B	1.32B	1.43B	1.44B	1.45B
COGS % of Revenue	0.75%	0.73%	0.75%	0.75%	0.73%	0.74%	0.79%	0.79%	0.77%	0.76%
Gross Profit+	299.63M	318.78M	303.51M	326.2M	358.04M	386.72M	355.72M	388.57M	432.3M	455.65M
Gross Margin %	0.25%	0.27%	0.25%	0.25%	0.27%	0.26%	0.21%	0.21%	0.23%	0.24%
Gross Profit Growth %	0.16%	0.06%	-0.05%	0.07%	0.1%	0.08%	-0.08%	0.09%	0.11%	0.05%
Operating Expenses+	115.06M	143.27M	129.91M	149.81M	182.09M	200.87M	243.81M	247.06M	232.94M	235.33M
OpEx % of Revenue	0.1%	0.12%	0.11%	0.11%	0.14%	0.14%	0.15%	0.14%	0.12%	0.12%
Selling, General & Admin	115.06M	143.27M	129.91M	149.81M	180.94M	205.36M	212.1M	222.09M	218.06M	230.23M
SG&A % of Revenue	0.1%	0.12%	0.11%	0.11%	0.14%	0.14%	0.13%	0.12%	0.12%	0.12%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	0	0	0	0	1.14M	-4.49M	31.71M	24.97M	14.87M	5.1M
Operating Income+	184.57M	174.35M	171.55M	190.92M	175.95M	185.85M	111.91M	141.51M	199.36M	220.32M
Operating Margin %	0.15%	0.15%	0.14%	0.15%	0.13%	0.13%	0.07%	0.08%	0.11%	0.12%
Operating Income Growth %	0.19%	-0.06%	-0.02%	0.11%	-0.08%	0.06%	-0.4%	0.26%	0.41%	0.11%
EBITDA+	208.72M	199.26M	198.44M	222.77M	213.91M	230.36M	157.79M	192.72M	255.26M	282.49M
EBITDA Margin %	0.18%	0.17%	0.16%	0.17%	0.16%	0.16%	0.09%	0.11%	0.14%	0.15%
EBITDA Growth %	0.19%	-0.05%	-0%	0.12%	-0.04%	0.08%	-0.32%	0.22%	0.32%	0.11%
D&A (Non-Cash Add-back)	24.15M	24.91M	26.9M	31.85M	37.96M	44.51M	45.88M	51.21M	55.9M	62.17M
EBIT	184.57M	175.51M	173.6M	176.39M	177.09M	181.36M	143.62M	166.48M	214.24M	225.42M
Net Interest Income+	0	0	0	0	0	0	0	0	0	0
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	0	0	0	0	0	0	0	0	0	0
Other Income/Expense	63K	1.16M	2.65M	4.62M	3.13M	-107K	477K	1.79M	6.15M	-6.85M
Pretax Income+	184.63M	175.52M	174.2M	195.54M	179.08M	185.75M	112.39M	143.3M	205.51M	213.46M
Pretax Margin %	0.16%	0.15%	0.14%	0.15%	0.13%	0.13%	0.07%	0.08%	0.11%	0.11%
Income Tax+	62.87M	60.2M	38.89M	44.99M	42.09M	43.41M	22.8M	32.01M	46.9M	46.12M
Effective Tax Rate %	0.66%	0.66%	0.78%	0.77%	0.76%	0.77%	0.8%	0.78%	0.77%	0.78%
Net Income+	121.76M	115.31M	135.31M	150.55M	136.98M	142.33M	89.59M	111.29M	158.61M	167.35M
Net Margin %	0.1%	0.1%	0.11%	0.12%	0.1%	0.1%	0.05%	0.06%	0.08%	0.09%
Net Income Growth %	0.2%	-0.05%	0.17%	0.11%	-0.09%	0.04%	-0.37%	0.24%	0.43%	0.06%
Net Income (Continuing)	121.76M	115.31M	135.31M	150.55M	136.98M	142.33M	89.59M	111.29M	158.61M	167.35M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	4.44	4.20	4.93	5.47	4.97	5.16	3.25	4.04	5.76	6.07
EPS Growth %	0.19%	-0.05%	0.17%	0.11%	-0.09%	0.04%	-0.37%	0.24%	0.43%	0.05%
EPS (Basic)	4.45	4.21	4.94	5.49	4.98	5.17	3.26	4.04	5.77	6.08
Diluted Shares Outstanding	27.37M	27.44M	27.46M	27.54M	27.5M	27.52M	27.47M	27.48M	27.46M	27.49M
Basic Shares Outstanding	27.34M	27.38M	27.4M	27.44M	27.45M	27.48M	27.45M	27.46M	27.44M	27.47M
Dividend Payout Ratio	1.56%	0.51%	0.48%	0.47%	0.55%	0.57%	0.97%	0.83%	0.62%	0.62%

Balance Sheet

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Total Current Assets+	267.83M	301.15M	378.88M	368.57M	385.61M	423.48M	351.78M	374.46M	443.99M	443.63M
Cash & Short-Term Investments	118.08M	143.1M	205.75M	196.29M	198.27M	188.06M	60.28M	88.47M	163.44M	161.48M
Cash Only	118.08M	143.1M	205.75M	196.29M	198.27M	188.06M	60.28M	88.47M	163.44M	161.48M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	66.01M	69.92M	72.96M	75.69M	86.6M	97.9M	135.5M	114.97M	95.56M	95.82M
Days Sales Outstanding	20.23	21.24	21.78	21.13	23.69	24.36	29.5	23.02	18.63	18.32
Inventory	76.1M	76.38M	90.86M	86.07M	85.05M	121.88M	144.7M	158.26M	173.25M	169.3M
Days Inventory Outstanding	31.16	31.57	36.07	32.01	31.79	41.18	39.99	40.28	43.93	42.52
Other Current Assets	7.64M	11.74M	9.3M	10.52M	15.69M	15.65M	11.3M	12.76M	11.74M	17.04M
Total Non-Current Assets+	366.9M	415.26M	425.61M	536.83M	607.74M	677.8M	738.59M	738.53M	762.94M	831.09M
Property, Plant & Equipment	169.59M	180.67M	190.81M	247.04M	316.26M	387.08M	479.55M	506.95M	532.82M	586.77M
Fixed Asset Turnover	7.02x	6.65x	6.41x	5.29x	4.22x	3.79x	3.50x	3.60x	3.51x	3.25x
Goodwill	143.79M	168.03M	168.03M	208.37M	208.37M	208.37M	208.37M	208.37M	208.37M	222.77M
Intangible Assets	44.87M	60.16M	56.18M	70.28M	65.22M	58.77M	32.32M	4.84M	0	0
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	8.66M	6.4M	10.6M	11.14M	17.89M	23.59M	18.35M	18.37M	21.74M	21.55M
Total Assets+	634.73M	716.4M	804.49M	905.4M	993.35M	1.1B	1.09B	1.11B	1.21B	1.27B
Asset Turnover	1.88x	1.68x	1.52x	1.44x	1.34x	1.33x	1.54x	1.64x	1.55x	1.50x
Asset Growth %	-0.1%	0.13%	0.12%	0.13%	0.1%	0.11%	-0.01%	0.02%	0.08%	0.06%
Total Current Liabilities+	73M	76.62M	93.77M	119.71M	126.26M	173.92M	165.59M	168.75M	183.97M	186.29M
Accounts Payable	39.93M	41.35M	57.98M	76.67M	71.43M	110.34M	114.97M	111.76M	118.81M	117.96M
Days Payables Outstanding	16.35	17.09	23.02	28.51	26.7	37.28	31.78	28.45	30.13	29.62
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	21.57M	21.86M	23.14M	28.67M	32.82M	32.52M	16.3M	26.34M	31.57M	33.75M
Current Ratio	3.67x	3.93x	4.04x	3.08x	3.05x	2.43x	2.12x	2.22x	2.41x	2.38x
Quick Ratio	2.63x	2.93x	3.07x	2.36x	2.38x	1.73x	1.25x	1.28x	1.47x	1.47x
Cash Conversion Cycle	35.03	35.71	34.83	24.62	28.78	28.25	37.72	34.86	32.44	31.21
Total Non-Current Liabilities+	48.13M	63.8M	58.44M	58.82M	83.79M	84.22M	80.1M	81.97M	97.19M	89.94M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	19.47M	23.89M	24.81M	19.22M	45.34M	43.84M
Deferred Tax Liabilities	23.03M	26.45M	18.1M	23.82M	35.21M	39.95M	39.81M	48.18M	38.08M	34.86M
Other Non-Current Liabilities	25.1M	37.36M	40.34M	35M	29.11M	20.36M	15.47M	14.57M	13.77M	11.24M
Total Liabilities	121.13M	140.43M	152.21M	178.53M	210.05M	258.14M	245.69M	250.73M	281.16M	276.23M
Total Debt+	0	0	0	0	26.81M	33.27M	36.23M	29.99M	57.67M	55.55M
Net Debt	-118.08M	-143.1M	-205.75M	-196.29M	-171.46M	-154.78M	-24.05M	-58.49M	-105.78M	-105.92M
Debt / Equity	-	-	-	-	0.03x	0.04x	0.04x	0.03x	0.06x	0.06x
Debt / EBITDA	-	-	-	-	0.13x	0.14x	0.23x	0.16x	0.23x	0.20x
Net Debt / EBITDA	-0.57x	-0.72x	-1.04x	-0.88x	-0.80x	-0.67x	-0.15x	-0.30x	-0.41x	-0.37x
Interest Coverage	-	-	-	-	-	-	-	-	-	-
Total Equity+	513.6M	575.98M	652.28M	726.87M	783.3M	843.15M	844.69M	862.27M	925.77M	998.5M
Equity Growth %	-0.12%	0.12%	0.13%	0.11%	0.08%	0.08%	0%	0.02%	0.07%	0.08%
Book Value per Share	18.76	20.99	23.75	26.40	28.49	30.64	30.75	31.38	33.71	36.32
Total Shareholders' Equity	513.6M	575.98M	652.28M	726.87M	783.3M	843.15M	844.69M	862.27M	925.77M	998.5M
Common Stock	110.68M	115.17M	119.23M	122.84M	125.15M	128.62M	137.81M	143.87M	153.62M	160.89M
Retained Earnings	1.15B	1.21B	1.28B	1.36B	1.42B	1.48B	1.49B	1.5B	1.56B	1.63B
Treasury Stock	-736.07M	-736.93M	-738.03M	-745.45M	-750.9M	-759.44M	-767M	-776.2M	-783.85M	-791.84M
Accumulated OCI	-11.35M	-8.94M	-8.26M	-10.31M	-12.07M	-8.25M	-11.17M	-9.37M	-8.64M	961K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Jun 2016	Jun 2017	Jun 2018	Jun 2019	Jun 2020	Jun 2021	Jun 2022	Jun 2023	Jun 2024	Jun 2025
Cash from Operations+	142.59M	144.35M	160.71M	197.6M	170.77M	174.19M	101.81M	225.9M	251.55M	261.5M
Operating CF Margin %	0.12%	0.12%	0.13%	0.15%	0.13%	0.12%	0.06%	0.12%	0.13%	0.14%
Operating CF Growth %	0.07%	0.01%	0.11%	0.23%	-0.14%	0.02%	-0.42%	1.22%	0.11%	0.04%
Net Income	121.76M	115.31M	135.31M	150.55M	136.98M	142.33M	89.59M	111.29M	158.61M	167.35M
Depreciation & Amortization	24.15M	24.91M	26.9M	31.85M	37.96M	44.51M	45.88M	51.21M	55.9M	62.17M
Stock-Based Compensation	3.33M	4.25M	5.04M	5.97M	6.12M	7.13M	9.56M	9.08M	11.36M	8.98M
Deferred Taxes	-525K	2.35M	-8.5M	7.34M	11.4M	4.63M	2.23M	9.45M	-6.55M	495K
Other Non-Cash Items	-296K	283K	1.61M	-15.3M	-274K	-4.58M	28.14M	24.76M	14.05M	19.36M
Working Capital Changes	-4.41M	-1.62M	359K	17.19M	-21.42M	-19.83M	-73.59M	20.11M	18.18M	3.15M
Change in Receivables	-3.55M	-2.6M	-3.04M	-748K	-10.91M	-11.29M	-37.6M	20.53M	19.41M	-257K
Change in Inventory	1.8M	150K	-14.48M	6.28M	1.02M	-36.83M	-22.83M	-13.56M	-14.99M	8.02M
Change in Payables	-4.11M	3.79M	15.72M	14.74M	2.74M	31.82M	-17.09M	14.61M	14.4M	-1.27M
Cash from Investing+	-17.42M	-60.61M	-31.45M	-126.86M	-83.27M	-88.98M	-132.24M	-90.78M	-67.43M	-148.21M
Capital Expenditures	-16.67M	-27M	-31.02M	-70.88M	-82.64M	-87.86M	-131.97M	-90.18M	-67.58M	-58M
CapEx % of Revenue	0.01%	0.02%	0.03%	0.05%	0.06%	0.06%	0.08%	0.05%	0.04%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-740K	1.57M	-109K	-617K	-752K	-1.26M	-636K	-1.81M	143K	-11.39M
Cash from Financing+	-189.28M	-58.72M	-66.61M	-80.2M	-85.52M	-95.43M	-97.34M	-106.93M	-109.15M	-115.26M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-190.55M	-58.98M	-64.53M	-70.11M	-75.64M	-81.23M	-86.76M	-92.37M	-97.93M	-103.5M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	-1.9M	-907K	-981K	-2.68M	-4.42M	-3.66M	-366K	-3.03M	-1.61M	-1.71M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	125.91M	117.35M	129.69M	126.72M	88.13M	86.32M	-30.16M	135.72M	183.98M	203.5M
FCF Margin %	0.11%	0.1%	0.11%	0.1%	0.07%	0.06%	-0.02%	0.07%	0.1%	0.11%
FCF Growth %	0.1%	-0.07%	0.11%	-0.02%	-0.3%	-0.02%	-1.35%	5.5%	0.36%	0.11%
FCF per Share	4.60	4.28	4.72	4.60	3.21	3.14	-1.10	4.94	6.70	7.40
FCF Conversion (FCF/Net Income)	1.17x	1.25x	1.19x	1.31x	1.25x	1.22x	1.14x	2.03x	1.59x	1.56x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	22.25%	21.17%	22.03%	21.83%	18.14%	17.5%	10.62%	13.04%	17.74%	17.39%
Return on Invested Capital (ROIC)	34.86%	31.57%	29.26%	29.31%	23.1%	21.44%	11.12%	13.07%	18.42%	19.3%
Gross Margin	25.16%	26.52%	24.82%	24.94%	26.83%	26.36%	21.22%	21.32%	23.1%	23.87%
Net Margin	10.22%	9.59%	11.06%	11.51%	10.27%	9.7%	5.34%	6.11%	8.47%	8.77%
Debt / Equity	-	-	-	-	0.03x	0.04x	0.04x	0.03x	0.06x	0.06x
FCF Conversion	1.17x	1.25x	1.19x	1.31x	1.25x	1.22x	1.14x	2.03x	1.59x	1.56x
Revenue Growth	7.84%	0.9%	1.75%	6.94%	2.03%	9.94%	14.27%	8.72%	2.7%	2%

Revenue by Segment

	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Retail	-	-	-	656.62M	714.13M	828.96M	915.21M	2.25B	988.42M	1B
Retail Growth	-	-	-	-	8.76%	16.08%	10.40%	146.33%	-56.16%	1.52%
Foodservice	-	-	572.69M	651.17M	620.26M	638.1M	761.18M	2.78B	883.34M	905.71M
Foodservice Growth	-	-	-	13.70%	-4.75%	2.88%	19.29%	264.79%	-68.19%	2.53%
Retail	-	-	650.23M	-	-	-	-	-	-	-
Retail Growth	-	-	-	-	-	-	-	-	-	-
Specialty Foods	2.38B	2.4B	-	-	-	-	-	-	-	-
Specialty Foods Growth	-	0.90%	-	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

The Marzetti Company (MZTI) has a price-to-earnings (P/E) ratio of 28.0x. This suggests investors expect higher future growth.

Growth & Financials

The Marzetti Company (MZTI) reported $1.94B in revenue for fiscal year 2025. This represents a 71% increase from $1.13B in 2012.

The Marzetti Company (MZTI) grew revenue by 2.0% over the past year. Growth has been modest.

Yes, The Marzetti Company (MZTI) is profitable, generating $169.8M in net income for fiscal year 2025 (8.8% net margin).

Dividend & Returns

Yes, The Marzetti Company (MZTI) pays a dividend with a yield of 2.22%. This makes it attractive for income-focused investors.

The Marzetti Company (MZTI) has a return on equity (ROE) of 17.4%. This is reasonable for most industries.

The Marzetti Company (MZTI) generated $298.8M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.