JJSF
J&J SNACK FOODS CORP
Consumer Staples • CIK: 0000785956
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Market Cap
$1.75B
P/E (TTM)
28.4x
Rev Growth (TTM)
-1.6%
Net Margin (TTM)
3.9%
FCF Yield (TTM)
4.8%
FCF Margin (TTM)
5.3%
Cash Flow Health
Free Cash Flow6/8 positive
TTM$83M
Q1 '26
$17M-62%
Q4 '26
$45M+57%
FCF Margin
TTM5.3%
Q1 '264.9%-55%
Sector: 6.9%Below Avg
OCF Margin10.6%
OCF/NI2.71x
CapEx Coverage2.0x
FCF Yield4.8%
FCF Growth (2Y)–
Cash Conversion Cycle
72 days
DSO: 42+DIO: 61−DPO: 31
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder YieldTTM
TTM6.4%
Div Yield3.5%
+Buyback (TTM)2.9%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)3.5%
FCF Payout Ratio73.5%
Free Cash Flow (TTM)$83.1M
Stock Repurchases (TTM)$50.0M
Capital Return / FCF133.7%
Est. Dividends Paid (TTM)$61.1M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
5.9%
Moderate
-0.3% YoY-6.0%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
3.8%
8Q: 3.2%
Asset Turnover
1.14x
8Q: 1.13x
Leverage (1+D/E)
1.00x
D/E: 0.00x
DuPont: 4.4% ≈ 5.9% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
3.95x
8Q:3.91x
-19.9%
Invested Cap Turn
1.55x
8Q:1.55x
-13.6%
CapEx Intensity
8.2%
8Q:7.7%
CapEx/Depreciation
1.11x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q1 2026 | Q4 2026 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2025 | Q3 2024 | Q2 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $1.6B | $343.8M↓16.2% | $410.2M↓9.7% | $454.3M↑27.6% | $356.1M↓1.8% | $362.6M↓15.0% | $426.8M↓3.0% | $440.0M↑22.3% | $359.7M |
Operating Income | $78.7M | $637.0K↓94.4% | $11.5M↓81.1% | $60.6M↑906.1% | $6.0M↓3.5% | $6.2M↓84.3% | $39.8M↓20.5% | $50.1M↑179.9% | $17.9M |
Net Income | $61.3M | $883.0K↓92.2% | $11.4M↓74.3% | $44.2M↑817.2% | $4.8M↓6.2% | $5.1M↓82.6% | $29.6M↓18.3% | $36.3M↑172.3% | $13.3M |
Operating Cash Flow | $165.9M | $36.0M↓45.9% | $66.4M↑29.7% | $51.2M↑316.1% | $12.3M↓65.0% | $35.2M↓24.1% | $46.3M↓28.8% | $65.0M↑410.4% | $12.7M |
Free Cash Flow | $83.1M | $17.0M↓62.2% | $44.8M↑57.3% | $28.5M↑498.2% | $-7.2M↓144.4% | $16.1M↓44.7% | $29.1M↓35.7% | $45.3M↑1246.6% | $-4.0M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
28.4x
Volatile
8Q: 185.8x+93501%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
28.4x
vs – sector
Cash Flow
20.1x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
4.8P/E per %ROIC
ROIC: 5.9%
Shareholder Returns
Dividend
3.5%
Buyback
2.9%
Total Yield
6.4%
Market Cap$1.75B
EV$1.67B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
63/100
High Quality
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Above Avg
6.5%
8Q:–
Return on Invested Capital (ROIC)Top 25%
5.9%
8Q:–
-6.0%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 3.8%
Asset Turnover: 1.14x
Earnings Quality
Cash Conversion
2.71x
OCF / Net Income ✓
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin30.2%
Capital Efficiency
Invested Capital Turnover1.55x
Working Capital
Cash Conversion Cycle72 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
48/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-1.6%
OpInc Growth YoY
-89.8%
EPS Growth YoY
-27.4%
FCF 3Y CAGR
N/A
Growth Quality Analysis
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
Low Quality
Profitability Cascade
Gross
30.2%
Operating
5.0%
Below Avg in sector
Net
3.9%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+1.4 pts
FCF: 5.3% | Net: 3.9%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Fortress
Net Debt / EBITDA
Net Cash
(0.0x)Net Cash: $66.76M
Interest Coverage
–
+Net cash position: $66.76M
Leverage Metrics
Debt-to-Equity
0.00x
Balance sheet risk & solvency analysis