One-glance verdict
Undervalued
$237.22 our estimate vs market $69.33
Wall Street consensus: $100.00 (-57.8% lower than our fair-value estimate)
71% below our estimate, below the bear case
Fundamentals snapshot
John B. Sanfilippo & Son, Inc.
JBSS · NMS · Consumer Defensive · Packaged Foods
Current price
$69.33
52-week range
$59.07 - $92.08
Market cap
$810.44M
Balance sheet
Healthy
35.80x Strong cushion
Net debt $108.20M. Interest coverage shows how many times profit covers the interest bill.
What stands out
3 Rewards
3 Risks
3 rewards · 3 risks
- Reward Revenue grew 6.2% last year.
- Reward Returns 16.7% on equity, ahead of 80% of its peers.
- Risk Net debt grew 846.3% over 3 years.
- Risk Forward P/E (14.6x) is higher than trailing (13.2x) - earnings are expected to drop.
What this company does
John B. Sanfilippo & Son, Inc.
John B. Sanfilippo & Son is a food company that sells nuts, snack bars, and peanut butter under its own brand names like Fisher and also as store-brand products for major retailers. The company makes most of its money by selling to large grocery chains and other food manufacturers rather than directly to individual customers. This reliance on large, consistent orders can help make its sales more predictable.
How the company got here
The company started in 1922 when Gaspare Sanfilippo and his son John began shelling pecans in a small Chicago storefront. For decades, it was a family-run business focused on supplying nuts to candy makers and local shops. A key turning point was the 1995 acquisition of the Fisher brand, which brought a nationally recognized name into the company and marked a major expansion into selling directly to consumers. Over the years, the company grew by purchasing other brands and building modern facilities, eventually going public to fund further expansion into the major nut and snack producer it is today.
What it actually does
John B. Sanfilippo & Son, Inc. (JBSS) sources, processes, and packages nuts, trail mixes, snack bars, and other food products. You would recognize their products in the grocery store under brand names like Fisher for baking nuts, Orchard Valley Harvest for trail mixes, and Squirrel Brand for snack nuts. Besides their own brands, they are a major producer of private label (a store's own brand, like 'Good & Gather' at Target) nut products for large retailers. The company sells everything from raw almonds and peanuts to seasoned cashews, peanut butter, and granola bars.
Consumer Channel
This is the company's largest business segment, where it sells packaged nuts, snacks, and baking ingredients directly to shoppers through grocery stores, mass merchandisers like Walmart and Target, and drug stores. When you buy a can of Fisher pecans or a bag of Orchard Valley Harvest trail mix, you are buying from this part of the business. This segment includes both the company's own brands and the private label products it makes for retailers, representing the vast majority of its total sales.
Commercial Ingredients Channel
This part of the business sells nuts and nut products as ingredients to other food companies and food service businesses. Customers include national restaurant chains, hotel kitchens, and other food manufacturers who use the nuts in their own final products, like candy bars, cereals, or baked goods. For example, a large bakery might buy bulk pecans from JBSS to make its pecan pies. This is a smaller but important part of the company's revenue (the total money it brings in from sales).
Contract Manufacturing Channel
In this segment, the company acts as a hired manufacturer for other food companies. It uses its facilities and expertise to process and package nut-based snacks and bars for other businesses under their brand names. Essentially, another company with a snack brand might pay JBSS to produce the actual product for them according to their specific recipe and packaging requirements. This is the smallest of the three business channels.
What management is betting on now
The company is focused on growing its snack and nutrition bar business, investing in new high-speed production lines to increase its manufacturing capacity. Management aims to expand its portfolio of branded products, which typically have better margins (the profit made on each sale) than private label goods. They are also working to manage rising costs for ingredients and transportation by increasing prices where necessary. Another key priority is using technology, like artificial intelligence, to improve their supply chain (the entire process of getting products from the farm to the store shelf).
Price history
How the share price has moved
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Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2025 Q1
$-2.97M
FY2025 Q2
$-2.67M
FY2025 Q3
$-37.58M
FY2025 Q4
$23.05M
FY2026 Q1
$7.26M
FY2026 Q2
$40.05M
FY2026 Q3
$-21.47M
FY2026 Q4
$9.91M
Revenue
$280.43M
Net income
$8.40M
Diluted EPS
0.71
Operating cash flow
$29.02M
Free cash flow
$9.91M
Fetching…
Sources
Revenue
$281.78M
Net income
$16.85M
Diluted EPS
1.43
Operating cash flow
$197.00K
Free cash flow
$-21.47M
Fetching…
Sources
Revenue
$314.78M
Net income
$17.96M
Diluted EPS
1.53
Operating cash flow
$62.49M
Free cash flow
$40.05M
Fetching…
Sources
Revenue
$298.68M
Net income
$18.73M
Diluted EPS
1.59
Operating cash flow
$32.13M
Free cash flow
$7.26M
Fetching…
Sources
Revenue
$269.08M
Net income
$13.53M
Diluted EPS
1.15
Operating cash flow
$36.53M
Free cash flow
$23.05M
Fetching…
Sources
Revenue
$260.91M
Net income
$20.15M
Diluted EPS
1.72
Operating cash flow
$-25.90M
Free cash flow
$-37.58M
Fetching…
Sources
Revenue
$301.07M
Net income
$13.60M
Diluted EPS
1.16
Operating cash flow
$10.98M
Free cash flow
$-2.67M
Fetching…
Sources
Revenue
$276.20M
Net income
$11.66M
Diluted EPS
1.00
Operating cash flow
$8.93M
Free cash flow
$-2.97M
Fetching…
Sources
Is it cheap or expensive?
Fair value $237.22 vs current price $69.33
Wall Street consensus is the average analyst price target: $100.00 (-57.8% lower than our fair-value estimate).
Our most-likely fair value is $237.22 a share — about 242.2% above today's price of $69.33, so the stock currently looks cheap (undervalued).
Is it drowning in debt?
Healthy
Net debt $108.2M. Interest coverage 35.8x.
Net debt
$108.20M
Interest coverage
35.80x
John B. Sanfilippo & Son, Inc.'s profit covers its interest bill about 35.8 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
JBSS
BASELINE
John B. Sanfilippo & Son, Inc.
Total debt $109.35M Interest coverage 35.80x This is the baseline the peer rows are being compared against.
Total debt $1.03B Interest coverage 0.25x -99% vs JBSS Carries about 144.9x less debt cushion than JBSS.
Total debt $448.46M Interest coverage 9.40x -74% vs JBSS Carries about 3.8x less debt cushion than JBSS.
Total debt $191.91M Interest coverage 67.00x +87% vs JBSS Carries about 1.9x more debt cushion than JBSS.
Total debt $1.47B Interest coverage 4.25x -88% vs JBSS Carries about 8.4x less debt cushion than JBSS.
What you should know
The case for and against JBSS
3 Rewards
3 Risks
Rewards
-
Revenue grew 6.2% last year.
-
Returns 16.7% on equity, ahead of 80% of its peers.
-
Free cash flow was positive in 9/10 years.
Risks
-
Net debt grew 846.3% over 3 years.
-
Forward P/E (14.6x) is higher than trailing (13.2x) - earnings are expected to drop.
-
Insider ownership is only 1.8% (peer median: 13.8%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
13.18x
Forward P/E
14.57x
P/B
2.13x
P/S
0.69x
EV/EBITDA
8.19x
PEG ratio
1.52x
Profitability
How much profit each dollar creates
Gross margin
18.0%
Operating margin
4.1%
Net margin
5.3%
ROE
16.7%
ROA
8.5%
Health
Liquidity and balance-sheet strength
Debt / equity
0.29x
Current ratio
2.08x
Quick ratio
0.51x
Total debt
$109.35M
Total cash
$1.15M
Growth
How the business has been compounding
Revenue TTM
$1.18B
Revenue 5Y CAGR
5.3%
EPS TTM
5.26
EPS 5Y CAGR
-0.9%
Cash flow
How much cash the business throws off
Operating CF TTM
$123.84M
Free CF TTM
$35.75M
FCF margin
3.0%
Dividend
Shareholder payout
Yield
1.4%
Payout ratio
17.1%
Last ex-div date
2026-08-17