Reading the tape
NASDAQ: MZTI
The Marzetti Company
Consumer Defensive · Packaged Foods
Market Cap
$3.16B
52w High
$190.96
52w Low
$111.04
P/E
17.88
Volume
54.55K
Outstanding Shares
27.49M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
1Y Price: -28.01%Revenue (TTM): 2.85%FCF (TTM): 40.35%P/FCF: 0th pct
What changed
The stock fell 28.01% over the last year. Revenue grew 2.85% over the trailing twelve months. Operating margin moved from 11.83% to 11.48%. Free cash flow grew 40.35% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price, and the shares now sit around the 0th percentile of their historical P/FCF range. That looks more like a rerating of the multiple than a collapse in the business.
What would invalidate this read
This read changes if operating margin (currently 11.48%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Manufactures and markets specialty food products (garlic breads, rolls, dressings, dips, pasta, croutons), serving retail and foodservice channels in the U.S.
CEODavid A. Ciesinski
SectorConsumer Defensive
IndustryPackaged Foods
Employees3,400
IPO dateMar 17, 1980
Valuation
Forward P/E—
EV/EBITDA16.13
Enterprise value$4.64B
Stock splits
Jan 28, 1998↑ Forward
Every 2 shares became 3
Jul 21, 1994↑ Forward
Every 3 shares became 4
Apr 16, 1993↑ Forward
Every 3 shares became 4
May 1, 1992↑ Forward
Every 2 shares became 3
Dec 28, 1987↑ Forward
Every 10 shares became 11
Jul 29, 1986↑ Forward
Every 4 shares became 5
Jan 5, 1983↑ Forward
Every 2 shares became 3
Jan 11, 1978↑ Forward
Every 2 shares became 3
Profitability & growth
Revenue growth-0.98%
Gross margin24.19%▲3.34%vs FY2024
Operating margin11.42%▲8.35%vs FY2024
ROE16.76%▼2.18%vs FY2024
Analyst consensus
RatingHold
Target price$160.00▲39.25%
3
Buy
9
Hold
1
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Aug 20, 2026
Q3 FY26 · EPS est $1.47 · Revenue est $472.59M
View
Dividends
$3.90/shareQuarterly9yr growth streakAdequateMZTI pays a dividend with a 3.39% dividend yield, 9 consecutive years of growth, growing at 6.1% annually, covered 2.0× by free cash flow.
Dividend Yield
3.39%
Annual Div / Share
$3.90
5yr CAGR
+6.1%
Doubles every ~11.7yr
Payout Ratio
61.19%
Adequate
Dividend Growth Rate
3yr CAGR
+5.73%
5yr CAGR
+6.1%
10yr CAGR
-5.57%
Dividend Safety
6/10Adequate
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2025$3.90+5.4%
2024$3.70+5.7%
2023$3.50+6.1%
2022$3.30+6.5%
2021$3.10+6.9%
2020$2.90+7.4%
2019$2.70+8.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$34/yr
$3/mo
In 5 yrs
$46/yr+34%
$4/mo
In 10 yrs
$61/yr+81%
$5/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$34/yr $3/mo | $46/yr+34% $4/mo | $61/yr+81% $5/mo |
Yield-on-cost grows from 3.39% → 6.14% over 10yr
Analysis
Dividend Strengths
Well-covered by free cash flow
The dividend is covered 2.0× by free cash flow, indicating the company generates sufficient cash to sustain and potentially grow the payout without straining its finances.
Strong dividend growth rate
The 5-year CAGR of 6.1% meaningfully outpaces inflation, compounding real income growth for long-term holders.
Risks to Watch
No strong risk signal stands out from the latest period pair.