JBT MAREL Corp financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data JBT MAREL Corp 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,351	1,635	1,920	1,946	1,728	1,868	1,590	1,664	1,716	3,798
Cost of revenue	804	961	1,382				1,061	1,079	1,090	2,464
Gross profit	158	190	234	264	224	220	255	586	627	1,335
Research and development	23.6	28.7	26.9	28.5	29.3	22	23	20.5	20.9	116
Selling, general and administrative	267	325	347	396	359	351	390	410
Operating expenses	64.3	57.6
Operating income	101	144	144	188	163	126	133	165	118	189
Interest expense	9.4	13.6	13.9	18.8	13.9	11.2	16.3	24.3	19.4	114
Interest income	1.6
Pre-tax income	94	132	129	167	146	120	120	153	95.3	-62.4
Income tax	26	50.1	24.6	37.6	36.7	27	16.2	23.5	10.7	-13.1
Income from continuing operations	68	82.1	104	129	109	92.5	104	129	84.6	-49.7
Net income	67.6	80.5	104	129	109	119	137	583	85.4	-50.5
EBITDA	140	196	202	254	235	202	214	256	208	456
EPS, basic	2.30	2.56	3.26	4.04	3.40	3.72	4.29	18.21	2.67	-0.98
EPS, diluted	2.27	2.53	3.23	4.02	3.39	3.71	4.28	18.13	2.65	-0.98
Shares, basic (weighted)	29.4	31.4	31.9	31.9	32	32	32	32	32	52
Shares, diluted (weighted)	29.8	31.9	32.2	32	32.1	32.1	32.1	32.1	32.2	52
Dividend per share	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40	0.40

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	33.2	34	43	39.5	47.5	78.8	71.7	483	1,228	168
Short-term investments							0
Receivables	261	226	253	289	236	239	201	214	240	443
Inventory	140	190	206	245	197	229	264	239	233	644
Other current assets	51.7	48	45.7	60.4	66.9	77.3	75.7	89.1	66.7	190
Total current assets	485	589	619	708	616	719	927	1,100	1,863	1,583
Property, plant and equipment	210	233	240	266	268	268	245	248	234	793
Lease right-of-use assets				30.7	27	33.5	37.5	37.3	32.3	75.1
Goodwill	240	302	321	529	544	647	770	780	769	3,428
Intangible assets	186	217	214	326	299	343	430	389	341	2,122
Other non-current assets	31.7	38.1	49	86.3	78.8	128	183	194	207	265
Total assets	1,187	1,391	1,443	1,915	1,806	2,141	2,641	2,710	3,414	8,191
Accounts payable	136	157	191	199	141	186	171	135	131	262
Accrued liabilities					42.9
Short-term debt	7.1	10.5	0.5	0.9	2.4	0	0.6	0	0	412
Total current liabilities	393	441	485	475	458	550	624	484	536	1,622
Long-term debt	492	373	387	698	523	674	977	646	1,252	1,470
Lease liabilities				22.3	19.7	25.2	29.1	27.2	21.7	56.2
Other non-current liabilities	36.8	49.5	40.7	98.7	94.7	109	91.2	66.1	40.6	252
Total liabilities	1,008	950	986	1,345	1,169	1,391	1,736	1,222	1,870	3,727
Total debt	492	373	387	698	523	674	977	646	1,252	1,470
Paid-in capital	77.2	252	246	242	230	214	221	228	234	2,717
Retained earnings	267	334	417	533	628	733	894	1,464	1,536	1,465
Treasury stock	-7.2	-4	-19.3	-12.6	-1	0	-5.3	-7.1	-1.8	0
Other comprehensive income	-157	-140	-187	-193	-220	-197	-204	-196	-225	281
Shareholders' equity	180	442	457	570	672	787	905	1,489	1,544	4,464
Total equity	180	442	457	570	637	751	905	1,489	1,544	4,464
Total liabilities and equity	1,187	1,391	1,443	1,915	1,806	2,141	2,641	2,710	3,414	8,191
Shares outstanding	29.2	31.6	31.5	31.7	31.7	31.8	31.8	31.8	31.8	52

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	67.6	80.5	104	129	109	119	137	583	85.4	-50.5
Depreciation and amortization	38.5	51.7	57.7	65.6	71.8	76.8	81.1	91.3	89.4	266
Stock-based compensation	9.9	9	9.7	9.4	1.9	5.5	8.9	11.4	14.7	23.2
Deferred income tax	-0.1	18.3	4.8	19.8	9.8	-3.2	-19.1	-21.6	-25.8	-79.6
Change in receivables	-29	-35.8	-7.2	-18.8	62.5	-29.1	-28.2	-21.6	-59.2	13.7
Change in inventory	-2.9	-23.7	-7.5	-5.7	44	-36.9	-47.3	26.9	3.7	-53.9
Change in payables	16.1	8.5	35.8	-3.7	-61	32	29.1	-32.1	0.6	-16.3
Cash from operations	67.4	105	154	110	252	226	142	74.2	233	342
Capital expenditures	-37.1	-37.9	-39.8	-37.9	-34.3	-51.7	-84.6	-55.1	-37.9	-104
Acquisitions	-232	-104	-57.5	-366	-4.5	-225	-330	-0.1	0	-1,746
Purchases of investments						0	0	-125	0	0
Sales and maturities of investments						0	0	125	0	0
Cash from investing	-267	-140	-94.4	-402	-37.3	-273	-416	729	-41.3	-1,843
Debt issued	150	0	0
Debt repaid	-2	-1.5	0	0				0	0	-6.8
Stock issued	0	184	0	0						-2,498
Share buybacks	-4.3	-5	-20	0	0	0	-7.7	-5.1	0	0
Dividends paid	-11.8	-12.7	-13.1	-12.7	-12.8	-12.8	-13.1	-12.8	-13.1	-20.9
Cash from financing	195	34.7	-48.3	288	-207	80.8	271	-354	562	458
Exchange rate effect	0.5	1.4	-2.2	0.5	0.7	-2.3	-2.5
Net change in cash	-4	0.8	9	-3.5	8	31.3	-5.7	410	745	-1,042
Free cash flow	30.3	66.7	114	72.3	218	174	57.7	19.1	195	238
Interest paid	10.4	13.1	16	21.9	14.2	8.8	13	20.7	7.5	99.5
Income taxes paid	25.8	24	19.8	29.2	36.4	36.4	27.9	47.1	33.2	68.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $110.09 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	35.6%	Gross profit / revenue.
Operating margin	7.3%	Operating income / revenue.
Pre-tax margin	6.1%	Pre-tax income / revenue.
Net margin	4.9%	Net income / revenue.
FCF margin	7.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.9%	Cash from operations / revenue.
Effective tax rate	19.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	4.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.4%	Net income / average total assets.
Return on invested capital (ROIC)	3.8%	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%.
Stock-based pay / revenue	0.8%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	2.9%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	121.3%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	33.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	17.1%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	113.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	73.6%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	43.0%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	60.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	12.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	3.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	119.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	28.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	14.2%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-159.1%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-137.0%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	46.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	33.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.3%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	22.3%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	60.4%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	1.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	0.0%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	0.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	0.0%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	189.1%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	70.2%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	46.0%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	139.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	45.8%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	35.3%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	61.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	17.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	10.1%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.24x	Current assets / current liabilities.
Quick ratio	0.43x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.09x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.37x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	20.9%	Total debt / total assets.
Liabilities / assets	44.1%	Total liabilities / total assets.
Net debt	$1.56B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$311.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	66.9%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$885.0M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.49x	Revenue / average total assets.
Fixed asset turnover	5.08x	Revenue / average property, plant and equipment.
Inventory turnover	3.61x	Cost of revenue / average inventory.
Days inventory	101 days	365 x average inventory / cost of revenue.
Receivables turnover	8.86x	Revenue / average receivables.
Days sales outstanding	41 days	365 x average receivables / revenue.
Days payables	43 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	99 days	Days inventory + days sales outstanding - days payables.
FCF conversion	161.3%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	27.1%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$3.69	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.
Revenue per share	$75.21	Revenue / diluted weighted shares.
FCF per share	$5.95	Free cash flow / diluted weighted shares.
Operating cash flow per share	$8.16	Cash from operations / diluted weighted shares.
Book value per share	$86.21	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$17.06	Tangible book value / shares outstanding.
Cash per share	$2.16	(Cash + short-term investments) / shares outstanding.
Payout ratio	10.9%	Dividends paid / net income, when net income is positive.
Dividends / FCF	6.7%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$5.71B	Share price x shares outstanding.
Enterprise value	$7.27B	Market cap + total debt - cash - short-term investments.
P/E	29.7x	Market cap / net income. Only when net income is positive.
P/S	1.45x	Market cap / revenue.
P/B	1.28x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	18.4x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.4x	Market cap / cash from operations, when positive.
EV/Sales	1.85x	Enterprise value / revenue.
EV/EBIT	25.2x	Enterprise value / operating income, when both are positive.
EV/FCF	23.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.4%	Free cash flow / market cap.
Earnings yield	3.4%	Net income / market cap (the inverse of P/E).
Dividend yield	0.4%	Dividends paid over the period / market cap.
Shareholder yield	0.4%	(Dividends paid + share buybacks) / market cap.

What was JBT MAREL Corp's revenue in fiscal 2025?

JBT MAREL Corp reported revenue of $3.80B for fiscal 2025, 121.3% higher than the year before.

Was JBT MAREL Corp profitable in fiscal 2025?

No. It reported a net loss of $50.5M.

How much free cash flow did JBT MAREL Corp generate in fiscal 2025?

Cash from operations of $341.7M minus capital expenditures of $103.6M left free cash flow of $238.1M.

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.

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