Jbs N.V. (JBS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+746.6%

$105.19

vs $12.43 price

Levered DCF

$38.09

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

12.08

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	7.59×	107.47×	-140.22×	10.34×	9×	41.62×	24.36×	5,663.27×
P/B	1.76×	4.26×	3.44×	3.57×	4.34×	4.76×	4.99×	5.59×
P/S	0.18×	0.46×	0.41×	0.43×	0.53×	0.71×	0.72×	0.79×
EV / EBITDA	5.11×	7.73×	14.54×	7.14×	6.37×	8.44×	10.14×	15.77×
Gross margin	12.8%	15.1%	10.9%	15.9%	18.9%	16.7%	15.6%	14.5%
Operating margin	4.8%	5.7%	1.5%	6.6%	9.2%	7.6%	6.6%	3.9%
Net margin	2.4%	2.3%	-0.3%	4.1%	5.9%	1.7%	3.0%	0.0%
Current ratio	1.6×	1.47×	1.64×	1.44×	1.4×	1.48×	1.47×	1.71×
Debt / equity	2.63×	3.01×	2.54×	2.25×	2.35×	1.85×	2.02×	2.22×
Interest coverage	2.46×	14.43×	3.06×	18.84×	34.2×	5.43×	3.31×	1.96×
Dividend yield	10.4%	2.3%	1.5%	2.7%	3.9%	0.8%	0.0%	0.1%
Payout ratio	79.4%	46.1%	-209.1%	28.0%	34.8%	31.3%	0.1%	503.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	23.2%	21.5%	-2.4%	34.2%	48.1%	11.5%	20.5%	0.1%
Return on invested capital	10.0%	8.6%	1.6%	13.5%	15.4%	8.8%	11.3%	-1.4%
Return on assets	4.5%	3.8%	-0.5%	7.6%	10.2%	2.8%	4.8%	0.0%
Free cash flow yield	4.9%	8.1%	2.7%	1.3%	6.2%	9.3%	6.4%	3.2%
Earnings yield	13.1%	5.0%	-0.7%	9.6%	11.1%	2.4%	4.1%	0.0%
Enterprise value	$185B	$290.9B	$237.5B	$256.4B	$271.9B	$245.6B	$197.7B	$191.4B
Net debt / EBITDA	2.78×	2.66×	5.4×	2.54×	1.88×	1.87×	2.55×	3.97×
Cash conversion cycle (days)	26	28	25	27	25	20	24	25