The Marzetti Company engages in manufacturing and marketing of specialty food products for the retail and foodservice channels in the United States. It operates in two segments, Retail and Foodservice. The company offers frozen garlic breads under the New York Bakery brand; frozen Parkerhouse style yeast and dinner rolls under the Sister Schubert's brand; salad dressings under the Marzetti, Cardini's, Marzetti Simply, and Girard's brands; vegetable and fruit dips under the Marzetti brand; croutons and salad toppings under the New York Bakery, Chatham Village, and Marzetti brands; and frozen pasta under the Marzetti Frozen Pasta brand. It also manufactures and sells various products to brand license agreements, including Olive Garden dressings, Buffalo Wild Wings sauces, Chick-fil-A sauces and dressing, Texas Roadhouse steak sauces and frozen rolls, and Subway sauces. The company sells its products through sales personnel, food brokers, and distributors to retailers and restaurants. The Marzetti Company was formerly known as Lancaster Colony Corporation and changed its name to The Marzetti Company in June 2025. The company was founded in 1896 and is based in Westerville, Ohio.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $1.9B | $288M | $167M | $203M | 16.8% | 2.0% | 5.5% |
| 2024 | $1.9B | $270M | $159M | $184M | 17.1% | 2.7% | 42.5% |
| 2023 | $1.8B | $218M | $111M | $136M | 12.9% | 8.7% | 24.2% |
| 2022 | $1.7B | $190M | $90M | $-30M | 10.6% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 1,676.39 | 1,822.53 | 1,871.76 | 1,909.12 |
| Operating Revenue | - | 1,676.39 | 1,822.53 | 1,871.76 | 1,909.12 |
| Cost Of Revenue | - | 1,320.67 | 1,433.96 | 1,439.46 | 1,453.48 |
| Gross Profit | - | 355.72 | 388.57 | 432.30 | 455.65 |
| Operating Expense | - | 212.10 | 222.09 | 218.06 | 230.23 |
| Selling General And Administration | - | 212.10 | 222.09 | 218.06 | 230.23 |
| Total Expenses | - | 1,532.77 | 1,656.05 | 1,657.52 | 1,683.70 |
| Operating Income | - | 143.62 | 166.48 | 214.24 | 225.42 |
| Total Operating Income As Reported | - | 111.91 | 141.51 | 199.36 | 220.32 |
| EBITDA | - | 189.50 | 217.69 | 270.13 | 287.59 |
| Normalized EBITDA | - | 221.21 | 242.66 | 285.01 | 292.69 |
| EBIT | - | 143.62 | 166.48 | 214.24 | 225.42 |
| Other Non Operating Income Expenses | - | 0.48 | 1.79 | 6.15 | -6.85 |
| Other Income Expense | - | -31.23 | -23.18 | -8.72 | -11.96 |
| Pretax Income | - | 112.39 | 143.30 | 205.52 | 213.46 |
| Tax Provision | - | 22.80 | 32.01 | 46.90 | 46.12 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -6.44 | -5.57 | -3.39 | -1.10 |
| Net Income Continuous Operations | - | 89.59 | 111.29 | 158.61 | 167.35 |
| Net Income From Continuing And Discontinued Operation | - | 89.59 | 111.29 | 158.61 | 167.35 |
| Net Income From Continuing Operation Net Minority Interest | - | 89.59 | 111.29 | 158.61 | 167.35 |
| Net Income | - | 89.59 | 111.29 | 158.61 | 167.35 |
| Net Income Common Stockholders | - | 89.36 | 111.03 | 158.20 | 166.89 |
| Net Income Including Noncontrolling Interests | - | 89.59 | 111.29 | 158.61 | 167.35 |
| Normalized Income | - | 114.86 | 130.69 | 170.10 | 171.35 |
| Diluted NI Availto Com Stockholders | - | 89.36 | 111.03 | 158.20 | 166.89 |
| Basic Average Shares | - | 27.45 | 27.46 | 27.44 | 27.47 |
| Diluted Average Shares | - | 27.47 | 27.48 | 27.46 | 27.49 |
| Reconciled Depreciation | - | 45.88 | 51.21 | 55.90 | 62.17 |
| Reconciled Cost Of Revenue | - | 1,320.67 | 1,433.96 | 1,439.46 | 1,453.48 |
| Total Unusual Items | - | -31.71 | -24.97 | -14.87 | -5.10 |
| Total Unusual Items Excluding Goodwill | - | -31.71 | -24.97 | -14.87 | -5.10 |
| Special Income Charges | - | -31.71 | -24.97 | -14.87 | -5.10 |
| Restructuring And Mergern Acquisition | - | 31.71 | 24.97 | 14.87 | 5.10 |
| Otherunder Preferred Stock Dividend | - | 0.22 | 0.26 | 0.41 | 0.46 |
Consumer Defensive sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| The Marzetti Companythis co. | MZTI | $2.9B | 17.49 | 2.92 | 16.7% | 9.78 |
| Universal Technical Institute, Inc. | UTI | $2.5B | 39.23 | 7.53 | 19.2% | 17.89 |
| McGraw Hill, Inc. | MH | $2.3B | -26.75 | 8.19 | -30.6% | 7.71 |
| Spectrum Brands Holdings, Inc. | SPB | $1.9B | 18.97 | 0.99 | 5.2% | 11.27 |
| Weis Markets, Inc. | WMK | $1.9B |
| - |
| - |
| - |
| - |
| - |
| 19.99 |
| 1.39 |
| 6.9% |
| 8.08 |
| Strategic Education, Inc. | STRA | $1.8B | 14.46 | 1.11 | 7.7% | 7.33 |
| Turning Point Brands, Inc. | TPB | $1.7B | 29.19 | 4.79 | 16.4% | 15.39 |
| Ingles Markets, Incorporated | IMKTA | $1.7B | 19.80 | 1.02 | 5.2% | 7.26 |
| Newell Brands Inc. | NWL | $1.6B | -5.73 | 0.68 | -11.9% | 20.08 |
| Peer Median | - | 19.38 | 1.25 | 6.1% | 9.68 | |