JM Smucker Company (SJM)
Return on equity (ROE)
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net income (ttm) | US$ in thousands | -1,230,800 | -256,700 | 526,000 | 745,400 | 744,000 | -101,800 | -13,700 | -17,500 | -91,300 | 711,500 | 572,700 | 587,600 | 631,700 | 576,600 | 768,400 | 793,200 | 876,300 | 955,600 | 881,500 | 861,900 |
| Total stockholders’ equity | US$ in thousands | 6,082,600 | 6,907,300 | 7,633,100 | 7,769,500 | 7,693,900 | 7,560,100 | 7,088,900 | 7,003,400 | 7,290,800 | 8,335,000 | 8,217,300 | 8,144,300 | 8,140,100 | 8,266,900 | 8,286,400 | 8,170,300 | 8,124,800 | 8,211,600 | 8,515,000 | 8,345,200 |
| ROE | -20.23% | -3.72% | 6.89% | 9.59% | 9.67% | -1.35% | -0.19% | -0.25% | -1.25% | 8.54% | 6.97% | 7.21% | 7.76% | 6.97% | 9.27% | 9.71% | 10.79% | 11.64% | 10.35% | 10.33% |
April 30, 2025 calculation
ROE = Net income (ttm) ÷ Total stockholders’ equity
= $-1,230,800K ÷ $6,082,600K
= -20.23%
The historical return on equity (ROE) of JM Smucker Company over the period from July 2020 through October 2025 exhibits notable fluctuations with a general tendency towards decline and volatility in later periods. In the fiscal period ending July 31, 2020, the ROE was approximately 10.33%, demonstrating moderate profitability relative to shareholders' equity. This figure remained relatively stable through October 2020 and into early 2021, with slight increases to 10.35% in October 2020 and reaching 11.64% in January 2021, indicating a period of marginal improvement and consistent generation of returns on shareholders' investments.
However, from April 2021 onward, the ROE demonstrated signs of variability, peaking at around 10.79% in April 2021 before declining to 9.71% in July 2021 and further decreasing to 9.27% by October 2021. Moving into 2022, the ROE experienced a sharper decline, dropping to 6.97% in January 2022 and then fluctuating slightly but remaining within a lower range of approximately 7% to 8% through April and July 2022, and further declining to 6.97% by October 2022.
A notable shift occurred in early 2023, where the ROE increased to 8.54% in January 2023, but then entered negative territory in April (-1.25%) and July (-0.25%), continuing into October (-0.19%), indicating periods of unprofitable operations or significant asset impairments impacting shareholders' equity returns. This negative trend persisted with further declines in subsequent periods, reaching -1.35% in January 2024.
Interestingly, there was a resurgence in ROE during April 2024, registering at 9.67%, followed by stability around 9.59% in July 2024 and a decrease to 6.89% in October 2024. Nevertheless, the company experienced a pronounced deterioration afterward, with the ROE dropping sharply to -3.72% in January 2025 and significantly further to -20.23% in April 2025, indicating substantial losses relative to equity.
Overall, the data depict a trajectory characterized initially by modest and relatively stable ROE figures, followed by increased volatility, temporary recoveries, and ultimately a period of sustained negative returns. The later periods reflect material challenges impacting profitability and shareholder value, with the negative ROE figures in recent periods marking a concerning trend of diminishing financial performance.