JBT Marel CorporationJBTM
NYSE•Industrials•Specialty Industrial Machinery
JBT Marel Corporation provides technology solutions to food and beverage industry in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through Protein Solutions and Prepared Food and Beverage Solutions. It offers value-added processing that includes equipment, solutions, software and services, stunning, slaughtering, scalding/dehairing, chilling, mixing/grinding, separation, injecting, blending, marinating, tumbling, flattening, forming, portioning, coating, cooking, frying, freezing, extracting, pasteurizing, sterilizing, concentrating, high pressure processing, weighing, inspecting, filling, closing, sealing, end of line material handling, labeling, and packaging solutions to the food, beverage, and health market. The company also provides automated guided vehicle systems for material handling requirements in the automotive manufacturing, warehouse, and medical facilities. It serves poultry, beef, pork, seafood, ready-to-eat meals, fruits, vegetables, plant-based meat alternatives, dairy, bakery, pet foods, soups, sauces, juices, and aqua feed industries. The company markets and sells its products and solutions through direct sales force, independent distributors, sales representatives, and technical service teams. The company was formerly known as John Bean Technologies Corporation and changed its name to JBT Marel Corporation in January 2025. JBT Marel Corporation was incorporated in 1994 and is headquartered in Chicago, Illinois.
JBT Marel Corporation (JBTM) reported trailing twelve months revenue of $3.88B as of March 2026, a 78.2% increase year-over-year. Quarterly revenue reached $936.00M, reflecting continued top-line momentum.
JBT Marel Corporation generated $167.50M in TTM net income, with quarterly EBITDA of $68.00M. The operating margin expanded from -3.9% to 7.3%, suggesting improving cost efficiency and pricing discipline.
The spread between operating margin (7.3%) and net margin (4.8%) indicates tight cost control with minimal non-operating drag. Net margin has improved from -20.3% a year ago, signaling stronger bottom-line efficiency.
JBTM trades at a P/E of 39.0x (a premium multiple) and a P/S of 1.7x. The price-to-book ratio of 1.5x reflects a moderate premium to book value.
The company generated $93.00M in free cash flow over the trailing twelve months, a 545.8% increase year-over-year, indicating cash generation ability. The balance sheet shows $8.16B in total assets with $1.43B in long-term debt against $4.48B in stockholders equity for a debt-to-equity ratio of 0.3, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 5.8%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~158.4% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
The company posted negative operating margins in recent quarters — core operations are unprofitable.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
D/E ratio is 0.3 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Shares outstanding increased 8.8% — significant dilution, likely from stock compensation or capital raises.