JBT Marel Corporation (JBTM) 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

-28.9%

$82.63

vs $116.21 price

Levered DCF

$207.56

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.89

Grey zone

Rating

B+

Overall 3 / 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	-153.74×	47.6×	5.46×	22.38×	41.5×	33.49×	27.89×	22.03×
P/B	1.76×	2.63×	2.14×	3.23×	6.55×	5.72×	6.31×	5.01×
P/S	2.06×	2.37×	1.91×	1.84×	3.51×	2.11×	1.85×	1.19×
EV / EBITDA	30.87×	20.03×	12.45×	18.02×	27.17×	17.83×	16.93×	13.14×
Gross margin	35.1%	36.5%	35.2%	33.3%	34.4%	30.9%	30.7%	28.0%
Operating margin	5.0%	6.9%	9.9%	8.3%	9.0%	9.4%	9.7%	7.5%
Net margin	-1.3%	5.0%	35.0%	8.6%	8.5%	6.3%	6.6%	5.4%
Current ratio	0.98×	3.48×	2.27×	1.48×	1.31×	1.35×	1.49×	1.27×
Debt / equity	0.42×	0.81×	0.43×	1.08×	0.9×	0.82×	1.23×	0.85×
Interest coverage	1.76×	6.1×	6.78×	8.13×	11.21×	11.73×	10.01×	10.35×
Dividend yield	0.3%	0.3%	0.4%	0.4%	0.3%	0.4%	0.4%	0.6%
Payout ratio	-41.4%	15.3%	2.2%	9.5%	10.7%	11.8%	9.8%	12.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-1.1%	5.5%	39.1%	15.2%	15.9%	17.1%	22.7%	22.8%
Return on invested capital	2.1%	3.7%	6.3%	5.7%	6.1%	9.0%	10.1%	12.2%
Return on assets	-0.6%	2.5%	21.5%	5.2%	5.6%	6.0%	6.7%	7.2%
Free cash flow yield	3.0%	4.8%	-0.5%	2.0%	3.5%	6.0%	2.0%	5.0%
Earnings yield	-0.6%	2.1%	18.3%	4.7%	2.4%	3.0%	3.6%	4.5%
Enterprise value	$9.5B	$4.1B	$3.3B	$3.8B	$5.5B	$4.1B	$4.3B	$2.6B
Net debt / EBITDA	5.49×	0.12×	0.61×	4.26×	2.94×	2.06×	2.63×	1.72×
Cash conversion cycle (days)	111	105	99	93	104	82	81	65