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Makes food and beverage processing equipment (filling, cooking, packaging) after JBT Corporation merged with Iceland's Marel.
Makes food and beverage processing equipment (filling, cooking, packaging) after JBT Corporation merged with Iceland's Marel.
Earns from selling processing lines engineered into customers' plants, then repeat income from spare parts, service and leased equipment for the life of the machines. It combined with Marel of Iceland, a maker of poultry, meat and fish processing systems, which added a large installed base.
Moat: narrow (customer qualification, installed base, IP / patents). Processing lines are engineered into customer plants, and the enlarged Marel merger adds global installed-base scale.
Headquarters: Chicago, Illinois, US · Founded: 2025 · Employees: 11,500
Size JBT Marel (JBTM) is a United States Industrials company (Industrial Machinery) with a market value of $6.66B, the 985th largest of 3,117 United States companies the cockpit tracks. Shares closed at $128.35 on 6 Nov 2026.
Performance Over six months the shares fell 8.0%, against -1.8% for the median peer and -1.1% for the United States market (cap-weighted) — 8th lowest of 19 in its peer set.
Growth Revenue grew 20.5% over the last twelve months (peer median +14.4%); the operating margin is 10.4% (peer median 13.7%).
Valuation It trades at 14.2× forward earnings against a peer median of 22.2× (3rd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 13% a year for seven years (Req g). Recent delivered growth is +17%, so the hurdle is -4 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.3 points below its cost of capital (8.7% WACC).
Backlog Backlog (remaining performance obligations) was $1.50B at 30 Sep 2026, up 15% on a year earlier — 0.4 years of trailing revenue. Backlog detail →
Credit JBT Marel has 1 bond outstanding ($575M).
Short interest Short interest is 8.2% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.92B | $3.79B | $1.72B | $1.66B | $1.60B |
| Revenue growth | — | +120% | +4% | +4% | — |
| Gross profit | $1.40B | $1.33B | $633M | $573M | $540M |
| EBITDA | $674M | $602M | $268M | $257M | $229M |
| Net income | $196M | -$50.5M | $85.4M | $583M | $137M |
| Free cash flow | $326M | $238M | $196M | -$15.5M | $57.7M |
| Capital expenditure | $111M | $104M | $37.9M | $55.1M | $84.6M |
| Total debt | $1.69B | $1.97B | $1.26B | $660M | $989M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| JBT Marel JBTM | $6.66B | -8% | +20% | 10% | 14.2× | 12.7% |
| GEA Group Aktiengesellschaft G1A.DE | $12.6B | +25% | +4% | 12% | 21.0× | 5.8% |
| Middleby MIDD | $6.17B | +3% | -7% | 17% | 18.5× | 6.9% |
| Krones KRN.DE | $3.94B | -7% | +3% | 7% | 11.2× | -1.8% |
| Alfa Laval ALFA.ST | $22.5B | 0% | +4% | 18% | 24.2× | 7.9% |
| TOMRA Systems TOM.OL | $3.17B | +6% | +7% | 11% | 31.8× | 9.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | JBTM | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +21.8% | -8.2% | 2nd highest of 21 |
| 6-month return | -8.0% | -1.8% | 8th lowest of 19 |
| Distance from 52-week high | -24.6% | -27.1% | 11th highest of 21 |
| Revenue growth (TTM) | +20.5% | +14.4% | 9th highest of 21 |
| Operating margin | 10.4% | 13.7% | 8th lowest of 21 |
| Forward P/E | 14.2× | 22.2× | 3rd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 12.7% | 19.3% | 9th least demanding of 19 |
| Growth delivered (Del g) | +17.0% | +7.3% | 6th highest of 19 |
| Hurdle (Req g minus delivered) | -4.4 pp | +10.2 pp | 5th least demanding of 19 |
| ROIC minus cost of capital | -3.3 pp | +0.9 pp | 6th lowest of 21 |
| EV / EBITDA | 12.2× | 13.5× | 6th cheapest of 13 |
| Net debt / EBITDA | 2.3× | 0.6× | 4th most indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JBT Marel JBTM | United States | $6.66B | -8% | +20% | 10% | 14.2× | 12.7% | +17.0% |
| Robotechnik Intelligent Technology 3757.HK | Hong Kong | $6.76B | n/a | +217% | 9% | 140.6× | 53.9% | +11.6% |
| KINGSEMI 688037.SS | China | $6.56B | -7% | +41% | -5% | 264.1× | n/a | n/a |
| Beijing Huafeng Test & Control Technology 688200.SS | China | $6.87B | -4% | +44% | 36% | 50.0× | 47.7% | +27.6% |
| INDO-MIM INDOMIM.NS | India | $6.39B | n/a | +26% | 20% | 60.8× | 30.3% | +15.8% |
| Timken TKR | United States | $7.07B | -14% | +6% | 15% | 14.5× | 3.7% | +5.5% |
| MISUMI 9962.T | Japan | $6.25B | +3% | +24% | 13% | 17.9× | 9.3% | +7.3% |
| Shenzhen Envicool Technology 002837.SZ | China | $7.13B | -49% | +22% | 9% | 53.5× | 56.2% | +29.0% |
| Zurn Elkay Water Solutions ZWS | United States | $7.18B | -15% | +10% | 23% | 21.8× | 10.9% | -2.4% |
| Middleby MIDD | United States | $6.17B | +3% | -7% | 17% | 18.5× | 6.9% | +5.0% |
| Shanghai BOCHU Electronic Technology 688188.SS | China | $6.16B | 0% | +20% | 44% | 29.6× | 18.0% | +30.9% |
| Spirax SPX.L | United Kingdom | $7.24B | +2% | +5% | 18% | 22.7× | 20.5% | +7.4% |
| Welspun WELCORP.NS | India | $6.13B | +70% | +14% | 12% | 25.5× | 24.9% | +19.0% |
| Airtac International 1590.TW | Taiwan | $6.11B | -30% | +23% | 33% | 15.8× | 5.0% | +12.4% |
| Sulzer SUN.SW | Switzerland | $7.39B | +23% | -3% | 13% | 17.9× | -1.4% | +3.7% |
| Valmet VALMT.HE | Finland | $5.97B | +30% | +3% | 10% | 13.8× | 2.1% | +6.8% |
| Zoomlion Heavy Industry Science & Technology 000157.SZ | China | $7.61B | -22% | +14% | 7% | 11.2× | 2.8% | -4.3% |
| Kokusai Electric 6525.T | Japan | $7.62B | -21% | +15% | 19% | 20.0× | 30.9% | -1.5% |
| Zhejiang Jingsheng Mechanical & Electrical 300316.SZ | China | $7.69B | -13% | -25% | 0% | 74.3× | 39.6% | +24.6% |
| Leader Harmonious Drive Systems 688017.SS | China | $7.84B | +27% | +46% | 15% | 283.8× | n/a | n/a |
| Georg Fischer GF.SW | Switzerland | $5.65B | +32% | -20% | 3% | 19.9× | 29.2% | -1.2% |
JBT Marel has 1 bond outstanding with $575M face value.
JBT Marel reported $1.50B of remaining performance obligations at 30 Sep 2026, up 15% from a year earlier and flat from the previous quarter. That is 0.4 years of trailing revenue already under contract. Book-to-bill last quarter: 1.00.