J.M. Smucker (SJM) FY2020 results: revenue $7.8 billion, down 0.5% on the year
J.M. Smucker Co. (SJM) reported revenue of $7.8 billion for fiscal 2020, the year ended 30 April 2020, down 0.5% on the year before. Net income was $780 million, up 51.5%, and diluted earnings per share $6.84. The figures are the company's own, from the 10-K it filed with the SEC on 19 June 2020.
Revenue
$7.8 billion
-0.5% on the year
FY2013FY2020
Operating margin
15.7%
11.8% a year earlier
FY2013FY2020
Net income
$780 million
+51.5% on the year
FY2013FY2020
Diluted EPS
$6.84
+51.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
7,801
7,838
7,357
-0.5%
Cost of revenue
4,799
4,922
4,521
-2.5%
Gross profit
3,002
2,916
2,836
+3.0%
Gross margin
38.5%
37.2%
38.5%
Selling, general and administrative
1,474
1,509
1,363
-2.3%
Operating income
1,223
929
1,044
+31.7%
Operating margin
15.7%
11.8%
14.2%
Interest expense
189
208
174
-9.0%
Pre-tax income
1,027
702
861
+46.3%
Income tax
247
187
-478
+32.1%
Effective tax rate
24.1%
26.7%
-55.5%
Net income
780
514
1,339
+51.5%
Net margin
10.0%
6.6%
18.2%
Diluted EPS
$6.84
$4.52
$11.78
+51.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,255
1,141
1,218
+10.0%
Capital expenditure
269
360
322
-25.2%
Free cash flow
986
781
896
+26.1%
Free cash flow margin
12.6%
10.0%
12.2%
Cash from investing
-272
-1,924
-278
Cash from financing
-689
699
-922
Depreciation and amortisation
446
446
413
+0.0%
Share-based compensation
26.8
20.7
15.4
+29.5%
Buybacks
4.2
5.4
7.0
-22.2%
Dividends paid
397
378
350
+5.0%
Dividend per share
$3.52
$3.40
$3.12
+3.5%
Diluted shares, weighted
113m
113m
113m
+0.3%
Shares outstanding at period end
114m
114m
114m
+0.3%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
8,191
7,970
7,891
+2.8%
Debt
5,621
5,911
4,832
-4.9%
Operating lease liabilities
120
0.0
n/a
Other liabilities
3,038
2,830
2,578
+7.4%
Total liabilities and equity
16,970
16,711
15,301
+1.6%
Fixed assets
1,969
1,912
1,729
+3.0%
Goodwill
6,304
6,311
5,942
-0.1%
Intangible assets
6,429
6,719
5,916
-4.3%
Cash and equivalents
391
101
193
+286.1%
Receivables
551
504
386
+9.4%
Inventory
895
910
854
-1.6%
Other assets
430
254
281
+69.3%
Total assets
16,970
16,711
15,301
+1.6%
10-K for the year ended 30 April 2020, filed 19 June 2020: the filing.