Sanfilippo John B & Son
Through the investors’ lenses
Each of these investors has said in public what they look at before buying. Click a name to see how this company measures up — a tick where it passes one of their tests, a cross where it does not.
Warren Buffett 3/4
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Owner earnings | $2.04m | positive | ✓ |
| Return on equity | 16.3% | median 11.7% | ✓ |
| Debt to equity | 0.11x | median 0.79x | ✓ |
| Operating margin | 7.6% | median 15.0% | ✗ |
Passes 3 of 4. To be clear: Warren Buffett has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Terry Smith 3/4
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Return on capital employed | 21.1% | median 10.1% | ✓ |
| Cash conversion | 2.00x | median 1.78x | ✓ |
| Operating margin | 7.6% | median 15.0% | ✗ |
| Debt to equity | 0.11x | median 0.79x | ✓ |
Passes 3 of 4. To be clear: Terry Smith has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Charlie Munger 2/3
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Return on capital employed | 21.1% | median 10.1% | ✓ |
| Return on equity | 16.3% | median 11.7% | ✓ |
| Operating margin | 7.6% | median 15.0% | ✗ |
Passes 2 of 3. To be clear: Charlie Munger has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Chuck Akre 4/4
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Return on equity | 16.3% | median 11.7% | ✓ |
| Debt to equity | 0.11x | median 0.79x | ✓ |
| Cash conversion | 2.00x | median 1.78x | ✓ |
| Return on equity, sustained | 10 of 10 | 8 of 10 above median | ✓ |
Passes 4 of 4. To be clear: Chuck Akre has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Philip Fisher 1/4
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Operating margin | 7.6% | median 15.0% | ✗ |
| Net margin | 5.3% | median 10.2% | ✗ |
| Return on capital employed | 21.1% | median 10.1% | ✓ |
| Operating margin, held or improving | 7.6% | 10-yr median 7.7% | ✗ |
Passes 1 of 4. To be clear: Philip Fisher has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Walter Schloss 2/2
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Current ratio | 2.08x | median 1.25x | ✓ |
| Debt to equity | 0.11x | median 0.79x | ✓ |
Passes 2 of 2. To be clear: Walter Schloss has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Benjamin Graham 3/3
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Current ratio | 2.08x | 2.00x published | ✓ |
| Long-term debt to working capital | 0.24x | 1.00x published | ✓ |
| Positive earnings, ten years running | 10 yrs | 10 published | ✓ |
Passes 3 of 3. To be clear: Benjamin Graham has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Joel Greenblatt 1/1
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Return on capital employed | 21.1% | median 10.1% | ✓ |
Passes 1 of 1. To be clear: Joel Greenblatt has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
Peter Lynch 1/2
| Measure | JBSS | Checked against | |
|---|---|---|---|
| Debt to equity | 0.11x | median 0.79x | ✓ |
| Net margin | 5.3% | median 10.2% | ✗ |
Passes 1 of 2. To be clear: Peter Lynch has never said anything about Sanfilippo John B & Son. These are the company’s own figures put through the tests he described. What he looks at, and why →
| Basis | Payout | Why |
|---|---|---|
| GAAP earnings | 76.0% | whyThe figure most screeners publish. |
| Operating cash flow | 37.8% | whyBefore capital spending. |
| Free cash flow | 130.8% | whyAfter maintaining the business. |
93 points between highest and lowest basis.
Coverage rating 3 / 100 — Not covered. ? Peer standing 3/50Direction 0/30Stability 0/20
Against its own history: 130.8% this year vs 52.9% median over the prior 5. A gap this size is usually a one-off — acquisition, settlement, cyclical trough — not a dividend that stopped being funded. The rating reads the latest year; the table shows the trend.
Free cash flow payout, last 6 years
| Fiscal year | Payout |
|---|---|
| 2026-06-25 | 130.8% |
| 2024-06-27 | 47.4% |
| 2023-06-29 | 52.9% |
| 2021-06-24 | 72.3% |
| 2020-06-25 | 141.5% |
| 2019-06-27 | 42.5% |
Coverage worsened sharply this year, 47.4% to 130.8%, after no clear trend before it. One year is not a trend, but it is worth knowing which direction the last one moved.
5% of the 38 consumer staples here pay out more — at the demanding end.
The arithmetic
- GAAP earnings — dividends declared per share $4.00 ÷ diluted EPS $5.26
- Operating cash flow — dividends paid $46.8m ÷ operating cash flow $124m
- Free cash flow — dividends paid $46.8m ÷ (operating cash flow $124m − capex $88.1m)
Where the figures came from
- 10-K filed 2026-08-19 · accession 0001193125-26-356919
All public at sec.gov — you should not have to take our word for it.
Computed straight from SEC XBRL. A number that looks wrong to you is more useful to us than agreement — tell us.
What the free cash flow payout ratio measures, and where every company here sits on it.
Also on: covered on earnings, not on the basis that applies · rated not covered · when it files.
When this changes
Every figure above is recomputed whenever Sanfilippo John B & Son files. The monthly letter carries what filed, what moved, and one finding computed across every company here.