# J&J Snack Foods Corp. (JJSF)

> Source: Nexqual · https://nexqual.com/JJSF · data as of 2026-10-23 14:58 UTC · cite as "Nexqual, J&J Snack Foods Corp. (JJSF), nexqual.com/JJSF" · informational, not investment advice.

**Price:** USD 83.88 (-1.20% today) · US market open, as of October 23, 2026 at 14:58 UTC; quotes may be delayed. Prev close 84.9 · day 83.25–86.06 · 52w 68.87–98.63 · market cap $1.57B · NMS

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $1.52B, net income $49.3M (3.2% margin), free cash flow $92.0M (SEC filings).
- Valuation: P/E 31.8x (avg 35.8x at the last 3 fiscal year-ends), EV/EBITDA 11.3x, net cash $35.1M.
- 1 of 80 tracked superinvestors hold JJSF (13F, Q2 2026): 1 new, 0 added, 0 reduced, 0 unchanged.
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 110.5 (range 101–120).
- Total return with dividends: 1Y -5.5% vs S&P 500 +14.5%; 5Y -36.0% vs S&P 500 +77.2%.
- Next earnings: 2026-11-17, EPS estimate USD 1.25, revenue estimate $398M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.14B | $1.38B | $1.56B | $1.57B | $1.58B | $1.52B |
| Gross profit | $299M | $370M | $470M | $486M | $470M | — |
| Operating income | $71.2M | $61.8M | $110M | $118M | $84.3M | $60.2M |
| Net income | $55.6M | $47.2M | $78.9M | $86.6M | $65.6M | $49.3M |
| EPS (diluted) | $2.91 | $2.46 | $4.08 | $4.45 | $3.36 | — |
| Free cash flow | $47.9M | -$61.2M | $67.5M | $99.5M | $82.3M | $92.0M |
| Gross margin | 26.1% | 26.8% | 30.1% | 30.9% | 29.7% | — |
| Operating margin | 6.2% | 4.5% | 7.0% | 7.5% | 5.3% | 3.9% |
| Net margin | 4.9% | 3.4% | 5.1% | 5.5% | 4.1% | 3.2% |
| Revenue growth | +12.0% | +20.6% | +12.9% | +1.0% | +0.5% | — |
| Cash + short-term investments | $283M | $35.2M | $49.6M | $73.4M | $106M | — |
| Total debt | $0K | $55.0M | $27.0M | $0K | $0K | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 31.8x · P/S 1.0x · EV/EBITDA 11.3x · EV/Sales 1.0x · P/FCF 17.0x · P/B 1.8x · FCF yield 5.87% · Earnings yield 3.14% · Dividend yield (paid, TTM) 3.89% · Buyback yield (TTM) 4.96% · Net cash $35.1M · EV $1.53B
P/E at fiscal year-ends: Sep 2025 28.6x, Sep 2024 38.7x, Sep 2023 40.1x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold JJSF. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Lee Ainslie | Maverick Capital | 0.03% | $3.7M | New position |

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 110.5 (low 101, high 120).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-06 | Jefferies | Upgrade | Hold → Buy | $81 → $101 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -5.5% | -36.0% |
| S&P 500 (SPY) | +14.5% | +77.2% |
| Per year | -5.5% | -8.6% |
| Volatility (annualized) | 34.8% | 29.8% |
| Max drawdown | -28.3% (Jan 2026→May 2026) | -57.9% (Nov 2024→May 2026) |

## Peers (Packaged Foods)
INGR (Ingredion Incorporated) USD 96.1 -1.11% · CPB (The Campbell's Company) USD 20.75 -2.42% · PPC (Pilgrim's Pride Corporation) USD 27.5 -2.10% · CAG (ConAgra Brands, Inc.) USD 14.97 -0.70% · SFD (Smithfield Foods, Inc.) USD 18.45 -1.94% · LW (Lamb Weston Holdings, Inc.) USD 54.9 -0.51%

## More
Full page: https://nexqual.com/JJSF · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in JJSF's own 10-K filed 2025-11-26 (https://www.sec.gov/Archives/edgar/data/785956/000143774925036456/jjsf20250927_10k.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Related party | NFI Industries | "We have related party expenses for distribution and shipping related costs with NFI Industries, Inc. and its affiliated entities ("NFI")." |

## Revenue by business segment (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Food Service | $254.3M | 59.7% | -8.3% | $28.1M | 11.0% |
| Frozen Beverages | $106.7M | 25.1% | -5.8% | $22.8M | 21.4% |
| Retail Supermarket | $64.9M | 15.2% | +1.7% | $2.7M | 4.1% |
| Total revenue | $426.0M | 100% | — | $46.3M | 10.9% |

## Revenue by product line (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product | $254.3M | 59.7% | -8.3% |
| Repair & Maintenance Service | $21.0M | 4.9% | -13.8% |
| Machine Sales | $9.6M | 2.3% | -43.2% |
| Other Products | $847,000 | 0.2% | -6.4% |
| Total revenue | $426.0M | 100% | — |
The lines above cover 67.1% of total revenue.

## Revenue by region (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $401.3M | 94.2% | -6.7% |
| Non Us | $24.7M | 5.8% | +2.1% |
| Total revenue | $426.0M | 100% | — |

## Customer concentration

Period ended 2025-09-27: 10% of revenue from unnamed direct customers (10-K, filed 2025-11-26).

## Company outlook (8-K filed 2026-08-05)

- "Conference Call J&J Snack Foods Corp. will host a conference call to discuss results and business outlook today, August 5, 2026, at 10:00 a.m."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.25 | $1.39 | -9.9% | $397.8M | 3 |
| Next quarter (ends 2026-12-31) | — | — | — | $0 | — |
| Current fiscal year (ends 2026-09-30) | $3.93 | $3.91 | +0.6% | $1.51B | 3 |
| Next fiscal year (ends 2027-09-30) | $4.14 | $4.33 | -4.5% | $1.54B | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-17): ±8.7%; last 8 reports averaged ±9.8%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 38.9% | ±8.7% |
| 2026-12-18 | 56 | 32.1% | ±10.4% |
| 2027-02-19 | 119 | 32.1% | ±14.5% |
| 2027-05-21 | 210 | 32.2% | ±19.2% |