JBT Marel Corporation

JBTM

Industrial - Machinery · Industrials

Price

$134.00

-4.75 (-3.42%)

Market Cap

$6.98B

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Share count rising — dilution

+62.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 32.1M (2021) → 52.3M (2025)

JBT Marel Corporation makes machines and equipment used to process food. Its products help factories cut, cook, freeze, and package meat, poultry, seafood, and other foods at high speed. The company sells to large food producers around the world, making it a key supplier in the industrial food processing equipment industry.

The company earns money by selling equipment and also through aftermarket services like spare parts, maintenance, and software — which provide more steady, recurring revenue. JBT Marel operates globally, with customers across North America, Europe, and beyond, and its scale gives it an advantage over smaller competitors. The business was formed through the 2024 merger of JBT Corporation and Marel, combining two established players in food processing technology. Its main growth driver is food producers upgrading older factories with more automated equipment, but the company carries significant debt from the merger, which is a real financial risk to watch.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.6% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+125.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$100M/ year

2.6% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

1.1%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$230M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

JBT Marel Corporation is growing revenue at 10% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

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Quality

Gross Margin

35.1%

Modest — 35.1% gross margin

Operating Margin

7.3%

Modest — 7.3% operating margin

ROCE

1.1%

Weak — 1.1% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales YoY

+78.2%

Fast-growing sales (78.2% YoY)

EPS YoY

N/A

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

255%

Turns 255% of profit into real cash

FCF Margin

8.2%

Modest free cash flow (8.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.41

Conservative — low debt load (0.41)

Interest Cover

3.87x

Tight — interest eats into profit (3.9x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)

41.5x

Pricey — P/E 41.5

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+24.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (41.5 → 16.8)

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Dividends

Dividend Yield

0.29%

Small dividend — 0.29% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

+0.0%

Dividend flat

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