JBTM
JBT MAREL Corp
Industrials • CIK: 0001433660
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Market Cap
$7.84B
P/E (TTM)
-150.7x
Rev Growth (TTM)
+121.3%
Net Margin (TTM)
-1.3%
FCF Yield (TTM)
-1.3%
FCF Margin (TTM)
-2.7%
Cash Flow Health
Free Cash Flow0/8 positive
TTM$-104M
Q4 '25
$-34M-9%
Q3 '25
$-31M-69%
FCF Margin
TTM-2.7%
Q4 '25-3.4%-8%
Sector: 5.4%Below Avg
OCF Margin–
OCF/NI–
CapEx Coverage–
FCF Yield-1.3%
FCF Growth (2Y)–
Cash Conversion Cycle
87 days
DSO: 38+DIO: 88−DPO: 40
Capital Allocation & Returns
Accumulating Cash
Total Shareholder Yield
TTM0.3%
Div Yield0.3%
Limited capital returns
Dividend & Payout Metrics
Dividend Yield (TTM)0.3%
Free Cash Flow (TTM)$-103.6M
Stock Repurchases ()$0
Capital Return / FCF-20.2%
Est. Dividends Paid (TTM)$20.8M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
2.5%
Stable
-0.0% YoY-2.2%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
3.9%
8Q: 5.9%
Asset Turnover
0.50x
8Q: 0.59x
Leverage (1+D/E)
1.51x
D/E: 0.51x
DuPont: 3.0% ≈ 2.5% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
5.31x
8Q:6.46x
-214.0%
Invested Cap Turn
0.64x
8Q:0.75x
-21.2%
CapEx Intensity
1.8%
8Q:1.9%
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $3.8B | $1.0B↑0.7% | $1.0B↑7.1% | $934.8M↑9.4% | $854.1M↑82.7% | $467.6M↑3.0% | $453.8M↑12.8% | $402.3M↑2.5% | $392.3M |
Operating Income | $189.4M | $72.3M↓29.2% | $102.1M↑111.0% | $48.4M↑244.9% | $-33.4M↓312.7% | $15.7M↓66.5% | $46.8M↑74.6% | $26.8M↓7.9% | $29.1M |
Net Income | $-50.5M | $53.1M↓19.5% | $66.0M↑1841.2% | $3.4M↑102.0% | $-173.0M↓2371.4% | $-7.0M↓118.0% | $38.9M↑26.7% | $30.7M↑34.6% | $22.8M |
Operating Cash Flow | N/A | $21.6M | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Free Cash Flow | $-103.6M | $-33.9M↓8.7% | $-31.2M↓68.6% | $-18.5M↑7.5% | $-20.0M↓100.0% | $-10.0M↓44.9% | $-6.9M↑34.3% | $-10.5M↓0.0% | $-10.5M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-150.7x
Volatile
8Q: 112.0x+44217%
Multiple expansion without fundamental improvement
Valuation Lenses
Earnings
-150.7x
vs – sector
Cash Flow
-92.3x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: 2.5%
Shareholder Returns
Dividend
0.3%
Buyback
–
Total Yield
0.3%
Market Cap$7.84B
EV$9.57B
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
38/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
-1.3%
8Q:–
Return on Invested Capital (ROIC)Top 25%
2.5%
8Q:–
-2.2%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 3.9%
Asset Turnover: 0.50x
Earnings Quality
Cash Conversion
–
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin35.1%
Capital Efficiency
Invested Capital Turnover0.64x
Working Capital
Cash Conversion Cycle87 days
Growth Quality & Momentum
Moderate Growth
Growth Quality Score
70/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
121.3%
OpInc Growth YoY
360.5%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
35.1%
Operating
5.0%
Below Avg in sector
Net
-1.3%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
-1.4 pts
FCF: -2.7% | Net: -1.3%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Adequate
Net Debt / EBITDA
–Net Debt: $2.11B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
0.51x
Balance sheet risk & solvency analysis