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Side-by-side financial comparison of J.M. Smucker Company (The) (SJM) and WATSCO INC (WSO). Click either name above to swap in a different company.
J.M. Smucker Company (The) is the larger business by last-quarter revenue ($2.3B vs $1.6B, roughly 1.5× WATSCO INC). J.M. Smucker Company (The) runs the higher net margin — 10.4% vs 4.5%, a 5.8% gap on every dollar of revenue. On growth, J.M. Smucker Company (The) posted the faster year-over-year revenue change (2.6% vs -10.0%). WATSCO INC produced more free cash flow last quarter ($388.5M vs $280.2M). Over the past eight quarters, J.M. Smucker Company (The)'s revenue compounded faster (2.2% CAGR vs 0.4%).
The J.M. Smucker Company, also known as Smucker's, is an American manufacturer of food and beverage products. Headquartered in Orrville, Ohio, the company was founded in 1897 as a maker of apple butter. J.M. Smucker currently has three major business units: consumer foods, pet foods, and coffee. Its flagship brand, Smucker's, produces fruit preserves, peanut butter, syrups, frozen crustless sandwiches, and ice cream toppings.
Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the United States. Watsco was founded more than 60 years ago as a manufacturer of parts, components, and tools used in the HVAC/R industry. In 1989, the company shifted from manufacturing to distribution, by acquiring Gemaire Distributors Inc., a South Florida-based Rheem distributor.
SJM vs WSO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3B | $1.6B |
| Net Profit | $241.3M | $71.7M |
| Gross Margin | 37.3% | 27.1% |
| Operating Margin | 18.0% | 6.4% |
| Net Margin | 10.4% | 4.5% |
| Revenue YoY | 2.6% | -10.0% |
| Net Profit YoY | 1084.9% | -25.9% |
| EPS (diluted) | $2.26 | $1.82 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.3B | $1.6B | ||
| Q3 25 | $2.1B | $2.1B | ||
| Q2 25 | $2.1B | $2.1B | ||
| Q1 25 | $2.2B | $1.5B | ||
| Q4 24 | $2.3B | $1.8B | ||
| Q3 24 | $2.1B | $2.2B | ||
| Q2 24 | $2.2B | $2.1B | ||
| Q1 24 | $2.2B | $1.6B |
| Q4 25 | $241.3M | $71.7M | ||
| Q3 25 | $-43.9M | $161.6M | ||
| Q2 25 | $-729.0M | $183.6M | ||
| Q1 25 | $-662.3M | $80.1M | ||
| Q4 24 | $-24.5M | $96.8M | ||
| Q3 24 | $185.0M | $171.0M | ||
| Q2 24 | $245.1M | $181.4M | ||
| Q1 24 | $120.4M | $87.0M |
| Q4 25 | 37.3% | 27.1% | ||
| Q3 25 | 22.5% | 27.5% | ||
| Q2 25 | 38.4% | 29.3% | ||
| Q1 25 | 40.2% | 28.1% | ||
| Q4 24 | 39.0% | 26.7% | ||
| Q3 24 | 37.5% | 26.2% | ||
| Q2 24 | 41.4% | 27.1% | ||
| Q1 24 | 36.9% | 27.5% |
| Q4 25 | 18.0% | 6.4% | ||
| Q3 25 | 2.2% | 11.4% | ||
| Q2 25 | -27.9% | 13.2% | ||
| Q1 25 | -27.2% | 7.3% | ||
| Q4 24 | 7.5% | 7.8% | ||
| Q3 24 | 16.4% | 11.6% | ||
| Q2 24 | 18.4% | 12.6% | ||
| Q1 24 | 13.3% | 8.1% |
| Q4 25 | 10.4% | 4.5% | ||
| Q3 25 | -2.1% | 7.8% | ||
| Q2 25 | -34.0% | 8.9% | ||
| Q1 25 | -30.3% | 5.2% | ||
| Q4 24 | -1.1% | 5.5% | ||
| Q3 24 | 8.7% | 7.9% | ||
| Q2 24 | 11.1% | 8.5% | ||
| Q1 24 | 5.4% | 5.6% |
| Q4 25 | $2.26 | $1.82 | ||
| Q3 25 | $-0.41 | $3.98 | ||
| Q2 25 | $-6.86 | $4.52 | ||
| Q1 25 | $-6.22 | $1.93 | ||
| Q4 24 | $-0.23 | $2.42 | ||
| Q3 24 | $1.74 | $4.22 | ||
| Q2 24 | $2.31 | $4.49 | ||
| Q1 24 | $1.13 | $2.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $733.3M |
| Total DebtLower is stronger | $7.0B | $361.6M |
| Stockholders' EquityBook value | $6.1B | $2.8B |
| Total Assets | $17.6B | $4.4B |
| Debt / EquityLower = less leverage | 1.16× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $733.3M | ||
| Q3 25 | — | $524.3M | ||
| Q2 25 | — | $293.0M | ||
| Q1 25 | — | $431.8M | ||
| Q4 24 | — | $781.9M | ||
| Q3 24 | — | $550.0M | ||
| Q2 24 | — | $424.9M | ||
| Q1 24 | — | $478.9M |
| Q4 25 | $7.0B | $361.6M | ||
| Q3 25 | $7.0B | $340.8M | ||
| Q2 25 | $7.0B | $338.7M | ||
| Q1 25 | $7.4B | $346.4M | ||
| Q4 24 | $7.8B | $337.2M | ||
| Q3 24 | $7.8B | $321.0M | ||
| Q2 24 | $7.8B | $307.1M | ||
| Q1 24 | $8.1B | $306.3M |
| Q4 25 | $6.1B | $2.8B | ||
| Q3 25 | $5.9B | $2.8B | ||
| Q2 25 | $6.1B | $2.8B | ||
| Q1 25 | $6.9B | $2.7B | ||
| Q4 24 | $7.6B | $2.7B | ||
| Q3 24 | $7.8B | $2.7B | ||
| Q2 24 | $7.7B | $2.6B | ||
| Q1 24 | $7.6B | $2.5B |
| Q4 25 | $17.6B | $4.4B | ||
| Q3 25 | $17.7B | $4.6B | ||
| Q2 25 | $17.6B | $4.7B | ||
| Q1 25 | $18.4B | $4.5B | ||
| Q4 24 | $20.0B | $4.5B | ||
| Q3 24 | $20.3B | $4.5B | ||
| Q2 24 | $20.3B | $4.4B | ||
| Q1 24 | $20.2B | $4.4B |
| Q4 25 | 1.16× | 0.13× | ||
| Q3 25 | 1.19× | 0.12× | ||
| Q2 25 | 1.16× | 0.12× | ||
| Q1 25 | 1.07× | 0.13× | ||
| Q4 24 | 1.02× | 0.13× | ||
| Q3 24 | 1.00× | 0.12× | ||
| Q2 24 | 1.01× | 0.12× | ||
| Q1 24 | 1.07× | 0.12× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $346.5M | $399.8M |
| Free Cash FlowOCF − Capex | $280.2M | $388.5M |
| FCF MarginFCF / Revenue | 12.0% | 24.6% |
| Capex IntensityCapex / Revenue | 2.8% | 0.7% |
| Cash ConversionOCF / Net Profit | 1.44× | 5.57× |
| TTM Free Cash FlowTrailing 4 quarters | $635.5M | $535.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $346.5M | $399.8M | ||
| Q3 25 | $-10.6M | $354.9M | ||
| Q2 25 | $393.9M | $-7.4M | ||
| Q1 25 | $239.4M | $-177.6M | ||
| Q4 24 | $404.2M | $378.9M | ||
| Q3 24 | $172.9M | $232.8M | ||
| Q2 24 | $428.1M | $57.7M | ||
| Q1 24 | $406.5M | $103.7M |
| Q4 25 | $280.2M | $388.5M | ||
| Q3 25 | $-94.9M | $346.1M | ||
| Q2 25 | $298.9M | $-14.3M | ||
| Q1 25 | $151.3M | $-185.2M | ||
| Q4 24 | $317.2M | $370.9M | ||
| Q3 24 | $49.2M | $223.0M | ||
| Q2 24 | $297.5M | $51.3M | ||
| Q1 24 | $249.6M | $97.9M |
| Q4 25 | 12.0% | 24.6% | ||
| Q3 25 | -4.5% | 16.7% | ||
| Q2 25 | 13.9% | -0.7% | ||
| Q1 25 | 6.9% | -12.1% | ||
| Q4 24 | 14.0% | 21.1% | ||
| Q3 24 | 2.3% | 10.3% | ||
| Q2 24 | 13.5% | 2.4% | ||
| Q1 24 | 11.2% | 6.3% |
| Q4 25 | 2.8% | 0.7% | ||
| Q3 25 | 4.0% | 0.4% | ||
| Q2 25 | 4.4% | 0.3% | ||
| Q1 25 | 4.0% | 0.5% | ||
| Q4 24 | 3.8% | 0.5% | ||
| Q3 24 | 5.8% | 0.5% | ||
| Q2 24 | 5.9% | 0.3% | ||
| Q1 24 | 7.0% | 0.4% |
| Q4 25 | 1.44× | 5.57× | ||
| Q3 25 | — | 2.20× | ||
| Q2 25 | — | -0.04× | ||
| Q1 25 | — | -2.22× | ||
| Q4 24 | — | 3.91× | ||
| Q3 24 | 0.93× | 1.36× | ||
| Q2 24 | 1.75× | 0.32× | ||
| Q1 24 | 3.38× | 1.19× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SJM
| U.S.Retail Frozen Handheld And Spreads | $461.1M | 20% |
| U.S.Retail Pet Foods | $413.2M | 18% |
| Handheld Frozen Sandwiches | $262.9M | 11% |
| Sweet Baked Snacks | $256.1M | 11% |
| Pet Snacks | $232.0M | 10% |
| Cat Food | $197.2M | 8% |
| Peanut Butter | $187.1M | 8% |
| CA | $94.5M | 4% |
| Fruit Spreads | $92.2M | 4% |
| Other | $50.5M | 2% |
| Portion Control | $50.1M | 2% |
| All Other International | $33.2M | 1% |
WSO
Segment breakdown not available.
