Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data JBS N.V. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2023
FY2025
FY2025
Revenue
72,918
77,183
86,184
Cost of revenue
64,951
65,594
74,885
Gross profit
7,967
11,588
11,299
Selling and marketing
4,594
4,827
4,989
Operating income
1,084
4,378
4,160
Interest expense
1,938
2,389
2,121
Interest income
584
719
565
Pre-tax income
-260
2,711
2,620
Income tax
-128
743
391
Net income to minority interests
67.1
201
205
Net income
-199
1,767
2,024
EPS, basic
-0.19
1.65
1.89
EPS, diluted
-0.19
1.65
1.89
Balance sheet
FY2023
FY2025
FY2025
Cash and equivalents
4,570
5,614
4,565
Short-term investments
303
455
Inventory
5,016
6,107
Total current assets
17,121
18,438
Property, plant and equipment
12,918
11,781
13,646
Lease right-of-use assets
1,706
1,597
1,614
Goodwill
5,417
5,853
Intangible assets
1,986
1,803
1,826
Total assets
40,685
45,156
Short-term debt
2,084
833
Total current liabilities
11,657
11,542
Lease liabilities
1,398
1,412
Total liabilities
32,551
35,634
Total debt
191
Shareholders' equity
7,094
8,704
Minority interests
1,040
819
Total equity
9,708
8,134
9,523
Total liabilities and equity
40,685
45,156
Cash flow statement
FY2023
FY2025
FY2025
Net income
-132
1,968
2,230
Cash from operations
2,379
4,230
2,932
Capital expenditures
-1,502
-1,480
-2,099
Cash from investing
-1,408
-1,418
-2,311
Debt issued
9,036
2,976
10,087
Dividends paid
-448
-759
-1,574
Cash from financing
1,022
-1,415
-1,772
Exchange rate effect
50.6
-353
103
Net change in cash
2,043
1,044
-1,049
Free cash flow
877
2,749
833
Interest paid
1,288
1,487
1,302
Income taxes paid
70.9
349
809
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $11.57 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
13.1%
Gross profit / revenue.
Operating margin
4.8%
Operating income / revenue.
Pre-tax margin
3.0%
Pre-tax income / revenue.
Net margin
2.3%
Net income / revenue.
FCF margin
1.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
3.4%
Cash from operations / revenue.
Effective tax rate
14.9%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
25.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
4.7%
Net income / average total assets.
Return on invested capital (ROIC)
121.8%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue
2.4%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
11.7%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-2.5%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
-5.0%
Operating income vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
14.6%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
14.5%
EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y
-30.7%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow growth, 1y
-69.7%
Free cash flow vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
22.7%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
11.0%
Total assets vs the same period a year earlier. Only from a positive base.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.60x
Current assets / current liabilities.
Quick ratio
0.43x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.43x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.02x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
0.4%
Total debt / total assets.
Liabilities / assets
78.9%
Total liabilities / total assets.
Net debt
-$4.83B
Total debt - cash - short-term investments. Negative means more cash than debt.
Free cash flow / net income, when net income is positive.
Capex / operating cash flow
71.6%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$1.89
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
$1.89
Net income per basic share, as reported (split-adjusted).
Payout ratio
77.7%
Dividends paid / net income, when net income is positive.
Dividends / FCF
189.0%
Dividends paid / free cash flow, when free cash flow is positive.
Valuation
Metric
Value
How it is calculated
Market cap
$12.39B
Share price x shares outstanding.
Enterprise value
$7.56B
Market cap + total debt - cash - short-term investments.
P/E
6.12x
Market cap / net income. Only when net income is positive.
P/S
0.14x
Market cap / revenue.
P/B
1.42x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
12.1x
Market cap / tangible book value, when positive.
P/FCF
14.9x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
4.23x
Market cap / cash from operations, when positive.
EV/Sales
0.09x
Enterprise value / revenue.
EV/EBIT
1.82x
Enterprise value / operating income, when both are positive.
EV/FCF
9.08x
Enterprise value / free cash flow, when both are positive.
FCF yield
6.7%
Free cash flow / market cap.
Earnings yield
16.3%
Net income / market cap (the inverse of P/E).
Dividend yield
12.7%
Dividends paid over the period / market cap.
Shareholder yield
12.7%
(Dividends paid + share buybacks) / market cap.
What was JBS N.V.'s revenue in fiscal 2025?
JBS N.V. reported revenue of $86.18B for fiscal 2025, 11.7% higher than the year before.
Was JBS N.V. profitable in fiscal 2025?
Yes. Net income was $2.02B, a net margin of 2.3%.
How much free cash flow did JBS N.V. generate in fiscal 2025?
Cash from operations of $2.93B minus capital expenditures of $2.10B left free cash flow of $832.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.