JBS N.V. (JBS) is listed on NYSE and operates in the Packaged Foods industry (Consumer Defensive sector).
JBS N.V., together with its subsidiaries, operates as a protein and food company worldwide. The company offers beef, pork, chicken, poultry, fish, and lamb products; cooked frozen meat; plant based products; and other food products. It also sells leather, leather, hygiene and cleaning products, collagen, metal packaging, biodiesel, and others, as well as wet blue leather, semi-finished, and finished leather products. In addition, the company is involved in beef processing, such as slaughtering, refrigerating, industrializing, and production of canned beef by-products, as well as fish processing; leather production, processing, and commercialization; production and commercialization of steel cans, plastic resin, soap base for production, soap bar, biodiesel, glycerin, olein, oily acid, collagen, and wrapper derived from cattle tripe; industrial waste management; cold storage; and purchase and sale of soybeans, tallow, palm oil, caustic soda, and stearin. Further, it engages in chicken and pork processing, including raising, slaughtering, and processing of broiler chickens and hogs; production and commercialization of beef and food products; production of pet food and concentrates; electric power production, cogeneration, and commercialization; operates distribution centers and harbors; and provides transportation services and dog biscuits. Additionally, it produces beef jerky; offers cattle fattening and warehousing services; operates logistics; and trades in by products fr...
| Rating | Analysts |
|---|---|
| Strong Buy | 0 |
| Buy | 2 |
| Hold | 1 |
| Sell | 0 |
| Strong Sell | 0 |
JBS N.V., headquartered in Amstelveen, Netherlands, is a global protein and food company. It provides a range of products, including beef, pork, chicken, poultry, fish, and lamb, as well as cooked frozen meat and plant-based alternatives. The company also produces leather goods, hygiene and cleaning products, collagen, and biodiesel. JBS is involved in various processing activities such as beef and fish processing, leather production, and the manufacture of metal packaging and soap products. Additionally, it engages in industrial waste management, cold storage, and the trading of commodities like soybeans, tallow, palm oil, and caustic soda. The company also processes chicken and pork, produces pet food, and generates electric power. JBS operates distribution centers and harbors, provides transportation services, and offers cattle fattening and warehousing services. Founded in 1953, JBS also engages in logistics and trades in by-products from its processing activities.
Over the past three fiscal years, the company has demonstrated a robust growth trajectory, with revenue consistently increasing at a CAGR of 13.8%, rising from BRL 363.8 billion in 2023 to BRL 471.1 billion in 2025. This growth has been accompanied by a significant improvement in profitability, as evidenced by the net margin turning positive and expanding by 2.6pp from -0.3% to 2.4%. The operating margin also saw a notable increase of 3.3pp, reaching 4.8% by 2025, indicating effective cost management and operating leverage. Earnings per share (EPS) experienced a dramatic turnaround, escalating from a loss of BRL 0.48 in 2023 to a gain of BRL 10.41 in 2025, further amplified by a slight reduction in share count by 0.5%, which enhanced per-share value creation. Cash generation has been somewhat volatile, with operating cash flow growing at a 16.1% CAGR, yet free cash flow (FCF) margins compressed slightly by 0.2pp to 0.9% in 2025. Despite this, the company's cash conversion ratio improved to 1.4, indicating that earnings are increasingly backed by actual cash flows. However, net debt increased consistently, reaching BRL 100.6 billion, which, coupled with an interest coverage ratio that remains thin at 2.5x, suggests that leverage management remains a critical focus area. Overall, the company's capital efficiency has improved, with a return on invested capital (ROIC) rising consistently to 13.0%, reflecting effective utilization of capital to generate returns.
JBS recently reported record financial results for 2025, with net revenue reaching $86.2 billion, marking a 12% increase from the previous year. The company also achieved a net income of $2 billion, reflecting a 13% growth, and earnings per share rose by 15% year-over-year. These results underscore the strength of JBS's diversified platform across various proteins and geographies. In addition to its earnings, JBS USA Food Company Holdings announced early tender results and increased the maximum tender amount for its cash tender offers, involving its 6.750% Senior Notes due 2034 and 5.950% Senior Notes due 2035. The company has also reached a tentative labor agreement with striking workers in Colorado, which could stabilize operations at the affected plant. These developments come as JBS shares have risen 26% this year, although analysts suggest that the main trigger for further growth is yet to materialize. Overall, JBS's financial performance and strategic actions, including resolving labor disputes, position the company for continued resilience in the market.