MZTI
MARZETTI CO
Next earnings Aug 19, 2026 (before open) · consensus $1.44 EPS, $487M rev
Last earnings -6.6% on 2026-05-04
$115.79
▲ +0.23%$115.79▼ -30.77%
over 1Y
L $104.72H $184.18
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+0.2%
1W+3.0%
1M+7.4%
3M-17.5%
YTD-28.5%
1Y-30.8%
Hold
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 11 analysts
Buy
High-quality, debt-light food specialist with margins climbing — but 2% top-line at 19x earnings leaves little room to add aggressively.
Revenue $1.91B (+2.0% YoY) · FY2025
The read
Middling fundamentals and a rich price (~26% above fair value) leave little margin of safety — a wait-and-see.
Marzetti is a well-run consumer-staples manufacturer (Retail + Foodservice sauces, dressings, frozen breads/pasta) whose quality shows in the numbers: FY2025 revenue hit a record $1.91B (+2.0%), but profit grew far faster — operating income +10.5% and net income +5.5% to $167M. The MD&A tells the why: gross margin expanded to 23.9% from 23.1% and 21.3% two years prior, and operating margin climbed to 11.5% from 7.8% in FY2023, helped by restructuring/impairment charges collapsing from $24.9M to $5.1M and the completion of the SAP S/4HANA 'Project Ascent' ERP overhaul. This is a company harvesting efficiency, not chasing growth. The balance sheet is pristine — $998M equity, $161M cash, current assets ($444M) covering current liabilities ($186M) ~2.4x, with 16.8% ROE and $261M operating cash flow against just $58M capex (~$200M free cash flow) funding a growing $104M dividend.
Is MZTI a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~90d expiry
- Long 100 shares @ ~115.79
- Short call 122 @ ~4.41 est
debit $11,138max +$1,062max −$11,137BE 111.38
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $1.47B | $1.68B | $1.82B | $1.87B | $1.91B |
| Gross profit | $387M | $356M | $389M | $432M | $456M |
| Operating income | $186M | $112M | $142M | $199M | $220M |
| Net income | $142M | $89.6M | $111M | $159M | $167M |
| Diluted EPS | $5.16 | $3.25 | $4.04 | $5.76 | $6.07 |
| Net margin | 9.7% | 5.3% | 6.1% | 8.5% | 8.8% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$3.01B
EV / EBITDA10.7
EV / Sales1.6
EV / FCF14.8
P / FCF15.6
PEG (trailing)3.46
Earnings yield5.3%
FCF yield6.4%
Quality & risk
ROIC (est.)17.4%
Free cash flow$203M
Total debt—
Net cash$161M
Piotroski F-Score4/8
Capital returns
Buyback yield0.3%
Dividend yield (est.)3.3%
Shareholder yield3.5%
Shares Δ YoY+0.0%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Earnings results2026-05-04
Filed fiscal Q3 2026 10-Q (quarter ended Mar 31, 2026)
- 10-Q Quarterly report2026-05-04
Filed fiscal Q3 2026 10-Q (quarter ended Mar 31, 2026)
- 8-K New financial obligation2026-05-01
Disclosed a new direct financial obligation (debt/credit line), atypical for net-cash MZTI
- 8-K Material agreement2026-03-09
Signed a material definitive agreement plus related financing, signaling an acquisition/expansion
- 8-K Officer / director change2026-02-11
Announced a senior officer/director change
- 8-K Earnings results2026-02-03
Filed fiscal Q2 2026 10-Q (quarter ended Dec 31, 2025)
- 10-Q Quarterly report2026-02-03
Filed fiscal Q2 2026 10-Q (quarter ended Dec 31, 2025)
- 8-K Officer / director change2025-11-20
Reported annual meeting voting results and a board/officer change
- 10-Q Quarterly report2025-11-04
Filed fiscal Q1 2026 10-Q (quarter ended Sep 30, 2025)
Recent filings
all on EDGAR ↗4Period ending 2026-06-112026-06-12open ↗4Period ending 2026-06-102026-06-12open ↗144Filing2026-06-11open ↗4Period ending 2026-05-172026-05-19open ↗10-QPeriod ending 2026-03-312026-05-04open ↗8-KPeriod ending 2026-05-042026-05-04open ↗8-KPeriod ending 2026-04-292026-05-01open ↗SCHEDULE 13G/AFiling2026-03-27open ↗8-KPeriod ending 2026-03-042026-03-09open ↗3Period ending 2026-02-112026-02-18open ↗8-KPeriod ending 2026-02-112026-02-11open ↗10-QPeriod ending 2025-12-312026-02-03open ↗
Frequently asked
- Is MARZETTI CO (MZTI) a buy?
- MZTI currently carries a Hold rating with 4/5 conviction, derived from its latest SEC filings. High-quality, debt-light food specialist with margins climbing — but 2% top-line at 19x earnings leaves little room to add aggressively.
- What is MZTI's fair value?
- A Modified-Graham model based on MZTI's SEC fundamentals estimates a fair value of about $85.75. It is an estimate from reported earnings, not a price target.
- Is MZTI overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, MZTI currently appears overvalued relative to its SEC-grounded earnings power.
- What is MARZETTI CO's quality score?
- MZTI scores 65.36451859923027/100 (grade B-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000057515, latest 10-Q filed 2026-05-04) · EODHD · Proprietary analysis · as of 6/29/2026, 10:38:35 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 29, 2026, 6:38 PM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.