Is the business good?
How good a business is MZTI?
The Marzetti Company earns 21% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
21%
Return on invested capital · cost of capital 9.0% · 12 points above what the capital costs: growth creates value
- Operating margin
- 11%
Operating margin · Packaged Foods median 8.2% · 12 months to Q3 2026
- Cash conversion
- 1.41×
Cash conversion · 0.87× a year ago · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- −0.43%
Share count, year on year · flat: no meaningful dilution
| Year | Operating margin |
|---|---|
| FY2020 | 13% |
| FY2021 | 13% |
| FY2022 | 6.7% |
| FY2023 | 7.8% |
| FY2024 | 11% |
| FY2025 | 12% |
Details›
- Gross margin12 months to Q3 2026
- 24%
- Operating margin12 months to Q3 2026
- 11%
- Net margin12 months to Q3 2026
- 9.1%
- Free cash flow margin
- 13%
- Revenue, trailing twelve months
- $1.94B
- Free cash flow, trailing twelve months
- $248M
- Net income, trailing twelve months
- $176M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 21%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Packaged Foods
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