Forensic Analysis · Industrials / Manufacturing / Defense · as of Aug 11, 2026
Jbt Marel Corp (JBTM)
A forensic read on Jbt Marel Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Grey Zone
Financial health
2.5
Distress distance
Watch
Earnings quality
4
Forensic signals
33.3
P / E (ttm)
-1.1%
ROE
$6.2B
Market cap
0.33%
Dividend yield
121.3%
Revenue growth
This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.
Jbt Marel Corp earns a D (Weak — demands caution) forensic quality grade, and its balance-sheet distress test reads 2.5, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).
What the filings flag
+119.0%
FY2024→FY2025
Accruals ratio (% of NOA).Net operating assets grew +119.0% relative to their own average in FY2025 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building sharply — a large slice of profit sits in operating assets, not cash; Richardson/Sloan link high accruals to weaker future returns as they reverse. The build is led by inventory up +176% against +126% in cost of sales and receivables up +85% against revenue +121%. The cash-flow cross-check is more mixed: reported earnings ran behind operating cash by 10% of net operating assets, diverging from the balance-sheet accrual read.
2.2%
FY2025
Return on invested capital.Return on invested capital is 2.2% in the latest fiscal year and slipping from 6% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+17.4%/yr
FY2022–FY2025
Share-count dilution.Diluted share count changed +62% over the last 3 years to FY2025 (+17.4%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~17.4% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~38%.
0.6% of rev
FY2025
Stock-based comp load.Stock-based compensation ran 0.6% of revenue and 10% of free cash flow in FY2025 — about $0.45 per diluted share. The cost of it is not in the cash flow — no cash left the business — it is in the count: holders gave up about 20.6% of the company a year, and that rate is not falling. That is the figure to weigh, not the share of free cash flow.
Key fundamentals
Latest Revenue$3.80B
Revenue Growth YoY+121.3%
Revenue CAGR (3yr)+33.7%
Net Margin-1.3%
Free Cash Flow$238.1M
Return on Equity-1.1%
Debt / Equity0.42x
The forensic grade and screens above are free — no account needed. Want the AI investment read on top — the 0–100 rating, thesis, bull-vs-bear, red flags and the 12-month scenario, written from Jbt Marel Corp's actual 10-K/10-Q/8-K filings?