Metrics
The numbers behind The Marzetti Company: as-reported financial statements and company metrics for FY2021–FY2025, traced to the source filings, opened with the share-price history those statements have to justify. Every linked figure opens the exact page of the filing it was printed on, with the statement row highlighted. Amounts in US$ thousands unless noted.
Reading notes: All figures are in US$ thousands, the scale the company prints on its financial statements (“Amounts in thousands, except per share data”). Per-share amounts and percentages are as printed. Each fiscal year is cited to that year's own Form 10-K, so every figure in the FY2021-FY2025 columns is a first-column (current-year) figure on the cited page rather than a comparative. Lancaster Colony Corporation was renamed The Marzetti Company effective June 27, 2025; the FY2021-FY2024 Forms 10-K are filed under the Lancaster Colony name. The fiscal year ends June 30. The company carried no outstanding borrowings on its revolving credit facility at any June 30 balance-sheet date shown, so no debt line appears on the balance sheet.
Share Price — Full Available History — 37 Years
The stock closed at $110.19 on Jul 28, 2026 — up 1,663% over the window shown (+8.2% a year), trading between $3.25 and $218.84. At that close the stock trades at 18× FY2025 diluted EPS as reported below.
Source: market price feed, monthly closes, sampled from 9,210 source observations, Jan 1990–Jul 2026. Price return only, excludes dividends.
Market capitalization $3.0bn and enterprise value $2.9bn.
Market cap = 27.4M shares outstanding × the Jul 28, 2026 close of $110.19. Enterprise value adds total debt of $0 and subtracts cash and equivalents of $161mn (net cash of $161mn), from the FY2025 balance sheet. Market-derived figures, shown without filing links.
FY2025 at a Glance
Revenue (US$ thousands)
Operating income (US$ thousands)
Net income (US$ thousands)
Diluted EPS
Source: FY2025 consolidated statements [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Net Sales by Class of Similar Products
| Net Sales by Class of Similar Products | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Shelf-stable dressings, sauces and croutons | 297,572 | 375,031 | 422,646 | 424,605 | 431,197 |
| Frozen breads | 308,482 | 331,812 | 343,450 | 351,063 | 380,601 |
| Refrigerated dressings, dips and other | 222,909 | 208,367 | 199,274 | 212,756 | 191,611 |
| Total Retail net sales | 828,963 | 915,210 | 965,370 | 988,424 | 1,003,409 |
| Dressings and sauces | 477,940 | 574,264 | 642,153 | 660,460 | 664,013 |
| Frozen breads and other | 156,457 | 186,916 | 215,004 | 222,875 | 227,463 |
| Other roll products | 3,707 | 0 | 0 | 0 | 0 |
| Other dressings and sauces for TSA | 0 | 0 | 0 | 0 | 14,237 |
| Total Foodservice net sales | 638,104 | 761,180 | 857,157 | 883,335 | 905,713 |
| Total net sales | 1,467,067 | 1,676,390 | 1,822,527 | 1,871,759 | 1,909,122 |
Source: Form 10-K Business Segment Information note - net sales disaggregated by class of similar products for the Retail and Foodservice segments [5] [6] [7] [8]. Click any linked figure to open the filing page with the row highlighted.
Segment Operating Income
| Segment Operating Income | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Retail | 188,403 | 151,627 | 139,464 | 207,660 | 211,695 |
| Foodservice | 89,048 | 82,745 | 106,349 | 97,094 | 111,579 |
| Operating Income | 185,852 | 111,911 | 141,508 | 199,363 | 220,317 |
Source: Form 10-K Business Segment Information note; consolidated operating income per the Consolidated Statements of Income. The gap between the two segments and consolidated operating income is nonallocated corporate expense and nonallocated restructuring and impairment charges. [5] [1] [9] [2]. Click any linked figure to open the filing page with the row highlighted.
Income Statement
Source: Consolidated Statements of Income [1] [2] [3] [4]. Click any linked figure to open the filing page with the row highlighted.
Columns marked E are consensus analyst estimates from S&P Capital IQ (CapIQ), shown alongside reported results for direct comparison; they are not company guidance.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-29. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Balance Sheet
Source: Consolidated Balance Sheets [10] [11] [12] [13]. Click any linked figure to open the filing page with the row highlighted.
Cash Flow
Source: Consolidated Statements of Cash Flows [14] [15] [16] [17]. Click any linked figure to open the filing page with the row highlighted.
Volume, Mix and Channel Split
| Volume, Mix and Channel Split | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Consolidated sales volume, pounds shipped (change vs prior year) | 3.0% | 2.0% | (5.0%) | 3.7% | 1.2% |
| Retail segment sales volume, pounds shipped (change vs prior year) | 11.0% | 2.0% | (4.0%) | 1.4% | 1.6% |
| Foodservice segment sales volume, pounds shipped (change vs prior year) | (1.0%) | 2.0% | (5.0%) | 5.3% | 0.9% |
| Retail share of net sales (segment sales mix) | 57% | 55% | 53% | 53% | 53% |
| Foodservice share of net sales (segment sales mix) | 43% | 45% | 47% | 47% | 47% |
Source: company filings [18] [19] [20] [21]. Click any linked figure to open the filing page with the row highlighted.
Margins as Reported by the Company
| Margins as Reported by the Company | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Gross margin | 26.4% | 21.2% | 21.3% | 23.1% | 23.9% |
| Operating margin | 12.7% | 6.7% | 7.8% | 10.7% | 11.5% |
| Retail segment operating margin | 22.7% | 16.6% | 14.4% | 21.0% | 21.1% |
| Foodservice segment operating margin | 14.0% | 10.9% | 12.4% | 11.0% | 12.3% |
| Effective tax rate | 23.4% | 20.3% | 22.3% | 22.8% | 21.6% |
| Adjusted operating income (non-GAAP) | — | — | — | 216,837 | 229,200 |
Source: company filings [18] [19] [22] [20]. Click any linked figure to open the filing page with the row highlighted.
Foodservice Customer Mix and Overhead
| Foodservice Customer Mix and Overhead | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Foodservice net sales - national accounts | 494,874 | 588,955 | 676,665 | 692,340 | 693,583 |
| Foodservice net sales - branded and other | 139,523 | 172,225 | 180,492 | 190,995 | 197,893 |
| Nonallocated corporate expenses (MD A, as stated) | 91,600 | 97,000 | 104,300 | 90,500 | 97,900 |
| Advertising expense as a percentage of net sales | 2% | 1% | 1% | 2% | 2% |
Source: company filings [5] [23] [18] [6]. Click any linked figure to open the filing page with the row highlighted.
Shareholder Returns
| Shareholder Returns | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Regular dividend payout rate per common share | 2.95 | 3.15 | 3.35 | 3.55 | 3.75 |
| Consecutive years of increased regular cash dividends | 58 | 59 | 60 | 61 | 62 |
| Common shares remaining under repurchase authorization | 1,269,701 | 1,225,545 | 1,176,739 | 1,131,564 | 1,083,830 |
Source: company filings [24] [25] [26] [27]. Click any linked figure to open the filing page with the row highlighted.
Workforce and Manufacturing Footprint
| Workforce and Manufacturing Footprint | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Employees at June 30 | 3,200 | 3,200 | 3,400 | 3,400 | 3,700 |
| Employees represented under collective bargaining contracts | 24% | 24% | 23% | 22% | 18% |
| Space used for operations (sq ft) | 2,300,000 | 2,500,000 | 2,600,000 | 2,700,000 | 2,900,000 |
| Of which leased (sq ft) | 700,000 | 800,000 | 700,000 | 900,000 | 900,000 |
Source: company filings [28] [29] [30] [31]. Click any linked figure to open the filing page with the row highlighted.
Long-Term Record
| Fiscal year | Net Sales | Operating Income | Net Income | Net Income Per Common Share - Diluted | Net cash provided by operating activities | Payments for property additions |
|---|---|---|---|---|---|---|
| FY2017 | 1,201,842 | 174,354 | 115,314 | 4.20 | 146,385 | (27,005) |
| FY2018 | 1,222,925 | 171,548 | 135,314 | 4.92 | 160,714 | (31,025) |
| FY2019 | 1,307,787 | 190,924 | 150,549 | 5.46 | 197,598 | (70,880) |
| FY2020 | 1,334,388 | 175,948 | 136,983 | 4.97 | 170,769 | (82,642) |
| FY2021 | 1,467,067 | 185,852 | 142,332 | 5.16 | 174,189 | (87,865) |
| FY2022 | 1,676,390 | 111,911 | 89,586 | 3.25 | 101,813 | (131,972) |
| FY2023 | 1,822,527 | 141,508 | 111,286 | 4.04 | 225,901 | (90,181) |
| FY2024 | 1,871,759 | 199,363 | 158,613 | 5.76 | 251,553 | (67,576) |
| FY2025 | 1,909,122 | 220,317 | 167,347 | 6.07 | 261,496 | (58,000) |
Source: consolidated statements across filings; older years from the standardized feed [14] [1] [15] [2]. Click any linked figure to open the filing page with the row highlighted.
Operating KPIs
| KPI | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net sales attributed to Walmart (percent of consolidated net sales) | 18% | 18% | 18% | 18% | 19% |
| Net sales attributed to Chick-fil-A (percent of consolidated net sales) | 21% | 24% | 26% | 28% | 29% |
Source: company-reported operating metrics [32] [33]. Click any linked figure to open the filing page with the row highlighted.
Analyst Consensus
Mean target
Median target
High target
Low target
Street ratings: 2 strong buy, 3 hold. Consensus: Buy.
Estimate source: S&P Capital IQ (CapIQ) consensus, as of 2026-07-29. Estimate figures are S&P Capital IQ consensus (vendor data — no filing page links). EPS and net income use the normalized (adjusted) consensus where the street reports it. Line-item analyst models (segments, drivers, KPIs) are in the Visible Alpha tab.
Traceability
501 of 527 figures on this page (95%) link to the filing page where they are printed — click a linked figure to open the source PDF at that page with the row highlighted. Unlinked figures come from standardized data feeds or pre-filing years.
All figures are in US$ thousands, the scale the company prints on its financial statements (“Amounts in thousands, except per share data”). Per-share amounts and percentages are as printed.
Each fiscal year is cited to that year's own Form 10-K, so every figure in the FY2021-FY2025 columns is a first-column (current-year) figure on the cited page rather than a comparative.
Lancaster Colony Corporation was renamed The Marzetti Company effective June 27, 2025; the FY2021-FY2024 Forms 10-K are filed under the Lancaster Colony name. The fiscal year ends June 30.
The company carried no outstanding borrowings on its revolving credit facility at any June 30 balance-sheet date shown, so no debt line appears on the balance sheet.
Cash-flow outflows (property additions, dividends, treasury purchases, acquisitions) are shown negative, exactly as printed in parentheses in the filings. Where the standardized feed supplies an unlinked long-term figure (FY2017-FY2018 capital expenditures) the sign has been normalized to match.
Rows printed as an em dash (nil) in a given year - Change in Contingent Consideration in FY2023 and FY2024, Other roll products from FY2022, Other dressings and sauces for TSA before FY2025, Cash paid for acquisition in FY2021-FY2024 - are carried as zero and left unlinked, because an em dash is not a useful highlight anchor.
The Pension Settlement Charge line (FY2025) and the Other intangible assets-net line (retired after FY2024) exist only in the years shown; other years are null because the filings do not print the line.
FY2017-FY2018 figures in the Long-Term Record come from the standardized SEC XBRL feed and are shown without page links; FY2016 is excluded because the feed carries no net sales figure for that year.
The quarterly block covers the six fiscal quarters for which the corpus holds a Form 10-Q. US filers publish no fourth-quarter 10-Q, so the June quarters of FY2025 and FY2026 are absent by construction rather than omitted - the standardized quarterly feed has the same gap.
Every derived quarterly cash-flow cell reconciles exactly to the difference of the two printed year-to-date figures and was cross-checked against data/financials/cash_flow_quarterly.json, which agrees to the dollar in every case.
No discrepancies: every figure taken from the filings was reconciled against the standardized feed (income.json, balance_sheet.json, cash_flow.json, segment.json, cash_flow_quarterly.json) and the two agree on every cell tested, so the discrepancies list is empty.