JBT MAREL Corp JBTM
We are a leading and diversified global technology solutions and service provider to high-value segments of the food and beverage industry. We design, produce, and service sophisticated products and systems for multi-national and regional customers. Our purpose is to transform the future of food by providing solutions that substantially enhance our customers' success, and in doing so design, produce and service sophisticated and critical products and systems for food and beverage companies that increase yields, boost efficiency, and improve food safety.
We were originally incorporated in Delaware in May 1994. Our principal executive offices are located at 333 West Wacker Drive, Suite 3400, Chicago, Illinois 60606 and our European headquarters is located at Austurhraun 9, 210 Gardabaer, Iceland.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.80B | $1.72B | $1.66B | $1.59B | $1.40B | $1.73B | $1.95B | $1.92B | $1.64B | $1.35B |
| Cost of revenue | $2.46B | $1.09B | $1.08B | $1.06B | — | — | — | $1.38B | $203.3M | $166.0M |
| Gross profit | $1.33B | $626.5M | $585.7M | $255.0M | $219.6M | $223.5M | $263.6M | $233.6M | $189.8M | $158.3M |
| R&D | $116.3M | $20.9M | $20.5M | $23.0M | $22.0M | $29.3M | $28.5M | $26.9M | $28.7M | $23.6M |
| SG&A | — | — | $409.6M | $389.7M | $351.4M | $358.5M | $396.4M | $346.8M | $325.2M | $267.4M |
| Total operating expenses | — | — | — | — | — | — | — | — | $57.6M | $64.3M |
| Operating income | $189.4M | $118.4M | $164.7M | $132.6M | $125.6M | $163.1M | $188.2M | $143.8M | $143.8M | $101.0M |
| Interest expense | $114.4M | $19.4M | $24.3M | $16.3M | $11.2M | $13.9M | $18.8M | $13.9M | $13.6M | $9.4M |
| Pre-tax income | -$62.4M | $95.3M | $153.1M | $120.0M | $119.5M | $145.5M | $166.9M | $129.0M | $132.2M | $94.0M |
| Income tax | $13.1M | $10.7M | $23.5M | $16.2M | $27.0M | $36.7M | $37.6M | $24.6M | $50.1M | $26.0M |
| Net income | -$50.5M | $85.4M | $582.6M | $137.4M | $119.1M | $108.8M | $129.0M | $104.1M | $80.5M | $67.6M |
| EPS, basic | -0.98 | 2.67 | 18.21 | 4.29 | 3.72 | 3.40 | 4.04 | 3.26 | 2.56 | 2.30 |
| EPS, diluted | -0.98 | 2.65 | 18.13 | 4.28 | 3.71 | 3.39 | 4.02 | 3.23 | 2.53 | 2.27 |
| Shares, diluted (wtd. avg.) | $52.0M | $32.2M | $32.1M | $32.1M | $32.1M | $32.1M | $32.0M | $32.2M | $31.9M | $29.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $167.9M | $1.23B | $483.3M | $71.7M | $76.9M | $44.3M | $39.5M | $43.0M | $34.0M | $33.2M |
| Receivables | $442.9M | $239.7M | $214.4M | $200.5M | $239.1M | $236.1M | $288.9M | $253.4M | $225.8M | $260.5M |
| Inventory | $643.7M | $233.1M | $238.9M | $264.0M | $229.1M | $197.3M | $245.0M | $206.1M | $190.2M | $139.6M |
| Total current assets | $1.58B | $1.86B | $1.10B | $926.5M | $718.7M | $616.1M | $708.2M | $618.5M | $588.6M | $485.0M |
| Property, plant and equipment | — | — | — | — | — | $268.0M | $265.6M | $239.7M | $233.0M | $210.2M |
| Goodwill | $3.43B | $769.1M | $779.5M | $770.1M | $646.7M | $543.9M | $528.9M | $321.4M | $301.8M | $239.5M |
| Other intangibles | $2.12B | $340.9M | $388.9M | $430.1M | $342.6M | $299.1M | $325.9M | $213.9M | $216.8M | $186.0M |
| Total assets | $8.19B | $3.41B | $2.71B | $2.64B | $2.14B | $1.81B | $1.91B | $1.44B | $1.39B | $1.19B |
| Accounts payable | $261.9M | $131.0M | $134.6M | $170.6M | $186.0M | $140.7M | $198.6M | $191.2M | $157.1M | $135.7M |
| Short-term debt | $411.9M | $0 | $0 | $600.0K | $0 | $2.4M | $900.0K | $500.0K | $10.5M | $7.1M |
| Total current liabilities | $1.62B | $535.5M | $484.4M | $624.0M | $549.9M | $457.5M | $474.5M | $485.3M | $441.4M | $393.0M |
| Long-term debt | $1.47B | $1.25B | $646.4M | $977.3M | $674.4M | $522.5M | $698.3M | $387.1M | $372.7M | $491.6M |
| Retained earnings | $1.46B | $1.54B | $1.46B | $894.0M | $733.4M | $627.8M | $532.8M | $416.5M | $333.7M | $266.6M |
| Total equity | $4.46B | $1.54B | $1.49B | $905.4M | $786.5M | $672.4M | $569.5M | $456.9M | $441.9M | $179.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $341.7M | $232.6M | $74.2M | $135.2M | $174.9M | $252.0M | $110.2M | $153.9M | $104.6M | $67.4M |
| Depreciation and amortisation | $266.2M | $89.4M | $91.3M | $30.6M | $31.7M | $71.8M | $65.6M | $57.7M | $51.7M | $38.5M |
| Stock-based compensation | $23.2M | $14.7M | $11.4M | $8.9M | $5.5M | $1.9M | $9.4M | $9.7M | $9.0M | $9.9M |
| Capital expenditure | $103.6M | $37.9M | $55.1M | $84.6M | $51.7M | $34.3M | $37.9M | $39.8M | $37.9M | $37.1M |
| Investing cash flow | -$1.84B | -$41.3M | $729.3M | -$413.2M | -$270.5M | -$37.3M | -$401.7M | -$94.4M | -$139.9M | -$266.8M |
| Financing cash flow | $458.1M | $561.8M | -$354.1M | $270.6M | $80.8M | -$207.4M | $287.5M | -$48.3M | $34.7M | $194.9M |
| Dividends paid | $20.9M | $13.1M | $12.8M | $13.1M | $12.8M | $12.8M | $12.7M | $13.1M | $12.7M | $11.8M |
| Buybacks | $0 | $0 | $5.1M | $7.7M | $0 | $0 | $0 | $20.0M | $5.0M | $4.3M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001433660-26-000053.
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