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J M Smucker cash flow, quarter by quarter

Latest: Q1 FY27 · from the cash-flow statements filed with the SEC

Free cash flow$337M in Q1 FY27 · $1.6B over twelve months

Operating cash flow$426M
Capital spending−$88.4M
Free cash flow+$337M
Cash / net income1.3×
Cash conversion cycle24 days

Analysis

In Q1 FY27, J M Smucker generated $426M of operating cash flow and spent $88.4M on capital projects, leaving free cash flow of $337M. That is $432M more than in Q1 FY26 (−$94.9M).

Over the twelve months to Jul 31, 2026, operating cash flow was $1.9B; the largest uses were net borrowing (+) / repaid (−) ($787M), other financing ($498M), dividends ($467M); besides operations, cash came from other investing ($174M), asset & business sales ($500K); the cash balance rose by $3.9M.

Operating cash flow was $426M against net income of $324M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: depreciation & amortization +$128M, inventory −$61.1M, payables +$60.9M.

Its cash conversion cycle was 24 days (receivables 26 + inventory 86 − payables 88).

Free cash flow

J M Smucker: free cash flow by quarterJ M Smucker: free cash flow by quarter$317MQ2 FY25$151MQ3 FY25$299MQ4 FY25−$94.9MQ1 FY26$280MQ2 FY26$487MQ3 FY26$484MQ4 FY26$337MQ1 FY27
Operating cash flow less capital spending.
J M Smucker: operating cash flow against capital spendingJ M Smucker: operating cash flow against capital spendingOperating cash flowCapital spending$404M$87.0MQ2 FY25$239M$88.1MQ3 FY25$394M$95.0MQ4 FY25−$10.6M$84.3MQ1 FY26$346M$66.3MQ2 FY26$558M$71.5MQ3 FY26$579M$95.3MQ4 FY26$426M$88.4MQ1 FY27
Latest (Q1 FY27): Operating cash flow $426M, Capital spending $88.4M.

Capital allocation, year by year

J M Smucker: where the cash came from (up) and went (down), by fiscal yearJ M Smucker: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY22: Operating cash flow $1.1BFY22: Net borrowing −$264MFY22: Shares issued $16.3MFY22: Asset sales $130MFY22: Capital spending −$418MFY22: Buybacks −$270MFY22: Dividends −$418M$1.3BFY22FY23: Operating cash flow $1.2BFY23: Net borrowing −$188MFY23: Shares issued $21.6MFY23: Asset sales $686MFY23: Capital spending −$477MFY23: Buybacks −$368MFY23: Dividends −$430M$1.9BFY23FY24: Operating cash flow $1.2BFY24: Net borrowing $3.1BFY24: Shares issued $3.2MFY24: Asset sales $56.7MFY24: Capital spending −$586MFY24: Acquisitions −$3.9BFY24: Buybacks −$373MFY24: Dividends −$438M$4.4BFY24FY25: Operating cash flow $1.2BFY25: Net borrowing −$634MFY25: Shares issued $1.9MFY25: Asset sales $333MFY25: Capital spending −$394MFY25: Buybacks −$3.3MFY25: Dividends −$455M$1.5BFY25FY26: Operating cash flow $1.5BFY26: Net borrowing −$752MFY26: Asset sales $13.1MFY26: Capital spending −$317MFY26: Buybacks −$5.6MFY26: Dividends −$465M$1.5BFY26
Over these 5 years operating cash flow totalled $6.2B; the largest uses were acquisitions ($3.9B) and dividends ($2.2B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$43.2M
Debt$6.7B
Net debt$6.7B
Due within a year$344M

J M Smucker funds itself: free cash flow was $1.6B over the last twelve months, and $43.2M of cash and investments stands against $6.7B of debt ($344M due within a year, 0.1× covered by cash).

Where the cash came from and went

J M Smucker: sources (+) and uses (−) of cash, Q1 FY27J M Smucker: sources (+) and uses (−) of cash, Q1 FY27Operating cash flow$426MNet borrowing (+) / repaid (−)−$231MDividends−$117MCapital spending−$88.4MCash drawn (+) / kept (−)$15.4MBuybacks−$5.7MOther investing$2.3MExchange rates−$1.3MOther financing−$700KAsset & business sales$300K
J M Smucker: sources (+) and uses (−) of cash, TTM to Q1 FY27J M Smucker: sources (+) and uses (−) of cash, TTM to Q1 FY27Operating cash flow$1.9BNet borrowing (+) / repaid (−)−$787MOther financing−$498MDividends−$467MCapital spending−$322MOther investing$174MBuybacks−$6.7MCash drawn (+) / kept (−)−$3.9MExchange rates−$800KAsset & business sales$500K

From profit to cash

J M Smucker: net income to operating cash flow, Q1 FY27J M Smucker: net income to operating cash flow, Q1 FY27Net income$324MDepreciation & amortization$128MStock-based pay$12.2MDeferred taxes−$400KOther non-cash$11.4MReceivables$40.1MInventory−$61.1MPayables$60.9MAccrued liabilities−$26.0MPrepaid and other assets−$13.8MOther operating capital−$17.7MOperating cash flow$426M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q1 FY2726868824
Q4 FY2626737325
Q3 FY2626776835
Q2 FY2626867439
Q1 FY2627737130
Q4 FY2526778222
Q3 FY2531768324
Q2 FY2531748223

Every quarter

QuarterOperating cash flowCapital spendingBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q1 FY27$426M−$88.4M−$5.7M−$117M−$231M$15.4M$337M
Q4 FY26$579M−$95.3M−$400K−$117M−$372M−$5.8M$484M
Q3 FY26$558M−$71.5M−$200K−$117M−$269M$10.0M$487M
Q2 FY26$346M−$66.3M−$400K−$117M−$214M−$23.5M$280M
Q1 FY26−$10.6M−$84.3M−$4.6M−$114M$301M$30.6M−$94.9M
Q4 FY25$394M−$95.0M−$200K−$114M−$178M−$22.7M$299M
Q3 FY25$239M−$88.1M−$400K−$114M−$32.3M$2.0M$151M
Q2 FY25$404M−$87.0M−$100K−$114M−$219M−$9.7M$317M

J M Smucker: income statement and cash flow

J M Smucker, Q1 FY27: revenue $2.2B (+5% year over year), operating margin 23.1%. The chart follows the revenue to costs, profit and cash.

J M Smucker: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.