MZTI

MKT CAP:$3B

The Marzetti Company

Market Cap

$3B

Consumer Defensive·Packaged Foods·🇺🇸 United States·NASDAQ

Consumer Def.·Packaged Foods·🇺🇸·NASDAQ

Stock Price

$127.13-$37.42 (-22.74%)

Apr 21, 2026

Company Details

Manufactures and markets specialty food products (garlic breads, rolls, dressings, dips, pasta, croutons), serving retail and foodservice channels in the U.S.

CEO

David A. Ciesinski

IPO Date

Mar 17, 1980

Website

www.marzetticompany.com

Key Metrics TTM

Revenue

$1.9B

+2.3% YoY

Net Income

$180M

EPS (Diluted)

$6.53

Free Cash Flow

$273M

Revenue / Share

$70.94

Gross Margin

24.1%

Operating Margin

11.6%

Net Margin

9.3%

FCF Margin

14.0%

P/S

1.8x

P/E

19.4x

Earnings Reports

Q3 2026

Apr 29, 2026

PENDING

Q2 2026

Feb 3, 2026

$518M+1.7%EPS $2.15

Q1 2026

Nov 4, 2025

$493M+5.8%EPS $1.71

FY 2025

Aug 21, 2025

$1.9B+2.0%EPS $6.07

Q4 2025

Aug 21, 2025

$475M+5.0%EPS $1.18

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 22	$403M	$68M	-$8M
Q4 22	$452M	$98M	$34M
Q1 23	$426M	$99M	$49M
Q2 23	$477M	$102M	$51M
Q3 23	$465M	$94M	$29M
Q4 23	$455M	$93M	$11M
Q1 24	$462M	$109M	$57M
Q2 24	$486M	$121M	$66M
Q3 24	$471M	$104M	$35M
Q4 24	$453M	$98M	$42M
Q1 25	$467M	$111M	$56M
Q2 25	$509M	$133M	$76M
Q3 25	$458M	$106M	$50M
Q4 25	$475M	$106M	$39M
Q1 26	$493M	$119M	$59M
Q2 26	$518M	$137M	$77M

Valuation

Quarter	P/S	P/E
Q3 22	2.2x	37.9x
Q4 22	2.1x	39.0x
Q1 23	2.0x	36.2x
Q2 23	2.0x	34.2x
Q3 23	1.9x	26.6x
Q4 23	1.9x	31.4x
Q1 24	1.9x	29.7x
Q2 24	1.9x	27.1x
Q3 24	1.9x	26.3x
Q4 24	1.9x	22.0x
Q1 25	1.9x	21.9x
Q2 25	1.8x	22.3x
Q3 25	1.9x	20.6x
Q4 25	1.8x	20.9x
Q1 26	1.8x	20.6x
Q2 26	1.8x	19.4x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 22	$17M	-$22M
Q4 22	$43M	$16M
Q1 23	$51M	$26M
Q2 23	$90M	$58M
Q3 23	$44M	$21M
Q4 23	$42M	$30M
Q1 24	$36M	$17M
Q2 24	$106M	$87M
Q3 24	$76M	$61M
Q4 24	$34M	$19M
Q1 25	$20M	$2M
Q2 25	$108M	$97M
Q3 25	$46M	$74M
Q4 25	$88M	$74M
Q1 26	$70M	$54M
Q2 26	$89M	$71M

Capital Expenditures

Quarter	CapEx
Q3 22	$38M
Q4 22	$27M
Q1 23	$25M
Q2 23	$32M
Q3 23	$22M
Q4 23	$11M
Q1 24	$18M
Q2 24	$19M
Q3 24	$15M
Q4 24	$16M
Q1 25	$18M
Q2 25	$11M
Q3 25	$29M
Q4 25	$14M
Q1 26	$16M
Q2 26	$18M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 22	+12.9%	+28.5%
Q4 22	+17.3%	+21.5%
Q1 23	+8.5%	+7.0%
Q2 23	+11.4%	+11.2%
Q3 23	+15.2%	+5.9%
Q4 23	+0.5%	+5.8%
Q1 24	+8.5%	+7.6%
Q2 24	+1.8%	-1.4%
Q3 24	+1.4%	+0.2%
Q4 24	-0.4%	-7.2%
Q1 25	+1.1%	+1.5%
Q2 25	+4.8%	+3.2%
Q3 25	-2.9%	-6.5%
Q4 25	+5.0%	+6.2%
Q1 26	+5.8%	+5.7%
Q2 26	+1.7%	+1.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 22	$3M	0.6%
Q4 22	$2M	0.5%
Q1 23	$2M	0.6%
Q2 23	$3M	0.6%
Q3 23	$2M	0.4%
Q4 23	$2M	0.5%
Q1 24	$3M	0.6%
Q2 24	$3M	0.6%
Q3 24	$3M	0.7%
Q4 24	$2M	0.5%
Q1 25	$2M	0.5%
Q2 25	$3M	0.5%
Q3 25	$2M	0.3%
Q4 25	$3M	0.5%
Q1 26	$3M	0.5%
Q2 26	$3M	0.5%

OpEx Breakdown

Quarter	G&A	S&M	SG&A
Q3 22	—	—	$55M
Q4 22	—	—	$54M
Q1 23	$50M	—	—
Q2 23	$50M	—	—
Q3 23	—	—	$65M
Q4 23	—	—	$57M
Q1 24	$52M	—	—
Q2 24	$56M	$132.0K	—
Q3 24	—	—	$57M
Q4 24	—	—	$53M
Q1 25	—	—	$55M
Q2 25	—	—	$57M
Q3 25	—	—	$56M
Q4 25	—	—	$62M
Q1 26	—	—	$58M
Q2 26	—	—	$60M

Revenue Segments

Quarter	Foodservice	Retail Segment
Q3 22	$190M	$213M
Q4 22	$219M	$233M
Q1 23	$202M	$223M
Q2 23	$219M	$259M
Q3 23	$218M	$247M
Q1 24	$219M	$242M
Q2 24	$222M	$264M
Q3 24	$223M	$248M
Q4 24	$219M	$234M
Q1 25	$227M	$240M
Q2 25	$229M	$281M
Q3 25	$216M	$242M
Q4 25	$234M	$242M
Q1 26	$246M	$248M
Q2 26	$240M	$278M

War Chest

Quarter	Cash	Short-term Investments	Total
Q3 22	$67M	$0	$67M
Q4 22	$60M	$0	$60M
Q1 23	$64M	$0	$64M
Q2 23	$95M	$0	$95M
Q3 23	$83M	$0	$83M
Q4 23	$88M	$0	$88M
Q1 24	$74M	$0	$74M
Q2 24	$134M	$0	$134M
Q3 24	$165M	$0	$165M
Q4 24	$163M	$0	$163M
Q1 25	$135M	$0	$135M
Q2 25	$203M	$0	$203M
Q3 25	$125M	$0	$125M
Q4 25	$203M	$0	$203M
Q1 26	$125M	$0	$125M
Q2 26	$202M	$0	$202M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 22	27M	-0.1%	-0.3%
Q4 22	27M	+0.0%	-0.3%
Q1 23	27M	+0.0%	-0.2%
Q2 23	27M	+0.1%	+0.1%
Q3 23	27M	-0.0%	+0.2%
Q4 23	27M	+0.0%	+0.1%
Q1 24	27M	-0.1%	+0.1%
Q2 24	27M	-0.1%	-0.2%
Q3 24	27M	+0.0%	-0.1%
Q4 24	27M	+0.1%	-0.0%
Q1 25	27M	-0.0%	+0.0%
Q2 25	27M	+0.1%	+0.2%
Q3 25	27M	+0.0%	+0.2%
Q4 25	27M	-0.1%	-0.0%
Q1 26	27M	+0.1%	+0.1%
Q2 26	27M	-0.3%	-0.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 22	$126.1K	3K
Q4 22	$141.4K	3K
Q1 23	$133.0K	3K
Q2 23	$149.2K	3K
Q3 23	$145.3K	3K
Q4 23	$133.7K	3K
Q1 24	$135.8K	3K
Q2 24	$142.9K	3K
Q3 24	$138.7K	3K
Q4 24	$133.2K	3K
Q1 25	$137.2K	3K
Q2 25	$149.8K	3K
Q3 25	$134.7K	3K
Q4 25	$128.5K	4K
Q1 26	$133.4K	4K
Q2 26	$140.0K	4K

Revenue / Employee