JM Smucker Company (SJM)
Operating profit margin
| Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | -673,900 | 331,200 | 1,222,600 | 1,351,800 | 1,305,800 | 266,300 | 286,800 | 281,300 | 157,500 | 1,093,000 | 925,700 | 944,100 | 1,023,800 | 960,500 | 1,216,100 | 1,285,100 | 1,386,800 | 1,494,800 | 1,377,600 | 1,326,600 |
| Revenue (ttm) | US$ in thousands | 8,726,100 | 8,788,000 | 8,831,200 | 8,498,600 | 8,178,700 | 8,207,800 | 8,194,900 | 8,461,400 | 8,529,200 | 8,328,200 | 8,169,000 | 8,013,900 | 7,998,900 | 7,885,300 | 7,904,900 | 7,888,900 | 8,002,700 | 8,174,500 | 8,070,100 | 7,993,900 |
| Operating profit margin | -7.72% | 3.77% | 13.84% | 15.91% | 15.97% | 3.24% | 3.50% | 3.32% | 1.85% | 13.12% | 11.33% | 11.78% | 12.80% | 12.18% | 15.38% | 16.29% | 17.33% | 18.29% | 17.07% | 16.60% |
April 30, 2025 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $-673,900K ÷ $8,726,100K
= -7.72%
The operating profit margin of JM Smucker Company has exhibited notable fluctuations over the analyzed period from July 2020 through October 2025. Initially, the margin increased from 16.60% in July 2020 to a peak of 18.29% in January 2021, indicating improved operational efficiency or favorable sales profitability during that interval. Subsequently, the margin experienced a decline, reaching a low point of approximately 11.33% in October 2022, reflecting increased costs, competitive pressures, or operational challenges.
Following this trough, a partial recovery was observed, with margins rising to over 15.97% in April 2024, suggesting a period of operational improvement or cost management success. However, the trend was again interrupted by significant volatility, with margins sharply dropping below 4% in early 2025, notably reaching negative territory at -7.72% in April 2025. Negative operating profit margins typically imply that operating expenses exceeded gross profits, possibly due to extraordinary costs, restructuring, or adverse market conditions.
Overall, the company's operating profit margin demonstrates considerable variability, characterized by periods of growth, decline, and instability. The fluctuations underscore the sensitivity of operating profitability to internal operational factors and external market dynamics during the specified timeframe.