Latest Ratios: P/E Ratio 5.8x · EV/EBITDA 6.7x · ROE 6.1%. (2014–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $25.9B | $15.4B | — | — | — | — | — | — | — | — | — |
| Enterprise Value | $45.2B | $116.0B | — | — | — | — | — | — | — | — | — |
| P/E Ratio → | 5.84 | 1.39 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.29 | 0.03 | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.24 | 0.29 | — | — | — | — | — | — | — | — | — |
| P/FCF | 32.67 | 3.73 | — | — | — | — | — | — | — | — | — |
| P/OCF | 8.71 | 0.99 | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.25 | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | 6.68 | 3.29 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 10.41 | 4.92 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 28.10 | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 12.8% | 12.8% | 15.1% | 10.9% | 15.9% | 18.9% | 16.7% | 15.6% | 14.5% | 14.6% | 12.5% |
| Operating Margin | 4.8% | 4.8% | 5.7% | 1.5% | 6.6% | 9.2% | 7.6% | 6.6% | 3.9% | 4.1% | 3.9% |
| Net Profit Margin | 2.4% | 2.4% | 2.3% | -0.3% | 4.1% | 5.9% | 1.7% | 3.0% | 0.0% | 0.3% | 0.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 6.1% | 6.1% | 3.5% | -0.8% | 32.5% | 46.5% | 12.1% | 20.1% | 0.1% | 2.2% | 0.9% |
| ROA | 1.2% | 1.2% | 0.7% | -0.2% | 7.6% | 11.4% | 3.2% | 5.0% | 0.0% | 0.5% | 0.2% |
| ROIC | 3.1% | 3.1% | 2.2% | 1.0% | 14.1% | 22.1% | 17.0% | 12.7% | 7.3% | 7.1% | 6.7% |
| ROCE | 3.5% | 3.5% | 2.5% | 1.1% | 16.8% | 24.7% | 18.5% | 14.1% | 8.3% | 9.0% | 8.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 2.40 | 2.40 | 2.68 | 2.35 | 2.10 | 2.17 | 1.70 | 1.84 | 2.04 | 2.18 | 2.39 |
| Debt / EBITDA | 3.57 | 3.57 | 24.94 | 38.57 | 2.95 | 2.43 | 2.76 | 3.22 | 4.78 | 5.10 | 5.09 |
| Net Debt / Equity | — | 1.92 | 1.99 | 1.88 | 1.83 | 1.68 | 1.25 | 1.53 | 1.72 | 1.73 | 1.99 |
| Net Debt / EBITDA | 2.85 | 2.85 | 18.51 | 30.83 | 2.58 | 1.88 | 2.03 | 2.68 | 4.03 | 4.05 | 4.24 |
| Debt / FCF | — | 24.37 | 40.03 | 108.21 | 43.30 | 6.78 | 3.06 | 5.22 | 10.43 | 21.65 | 250.62 |
| Interest Coverage | 2.57 | 2.57 | 15.60 | 3.44 | 19.28 | 34.51 | 5.65 | 3.24 | 2.01 | 1.49 | 2.12 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.60 | 1.60 | 1.47 | 1.64 | 1.44 | 1.40 | 1.48 | 1.47 | 1.71 | 1.24 | 1.02 |
| Quick Ratio | 0.91 | 0.91 | 0.90 | 0.95 | 0.75 | 0.84 | 0.93 | 0.86 | 1.04 | 0.81 | 0.65 |
| Cash Ratio | 0.41 | 0.41 | 0.48 | 0.46 | 0.24 | 0.39 | 0.48 | 0.35 | 0.41 | 0.40 | 0.28 |
| Asset Turnover | — | 1.90 | 0.27 | 0.36 | 1.85 | 1.75 | 1.65 | 1.62 | 1.59 | 1.50 | 1.66 |
| Inventory Turnover | 9.42 | 9.42 | 1.40 | 2.00 | 8.53 | 8.66 | 9.91 | 9.95 | 10.71 | 11.19 | 12.14 |
| Days Sales Outstanding | — | 22.78 | 125.22 | 80.95 | 19.24 | 20.01 | 18.91 | 19.87 | 19.40 | 20.88 | 20.54 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 13.6% | 57.2% | — | — | — | — | — | — | — | — | — |
| Payout Ratio | 79.4% | 79.4% | 46.1% | — | 28.0% | 34.8% | 31.3% | 0.1% | 503.5% | 17.5% | 471.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 17.1% | 72.2% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 3.1% | 26.8% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 2.4% | 20.7% | — | — | — | — | — | — | — | — | — |
| Total Shareholder Yield | 15.9% | 77.9% | — | — | — | — | — | — | — | — | — |
| Shares Outstanding | — | $1.1B | $2.2B | $2.2B | $2.3B | $2.5B | $2.7B | $2.7B | $2.7B | $2.8B | $2.7B |
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying JBS stock.
Jbs N.V.'s current P/E ratio is 5.8x. The historical average is 1.4x. This places it at the 100th percentile of its historical range.
Jbs N.V.'s current EV/EBITDA is 6.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 3.3x.
Jbs N.V.'s return on equity (ROE) is 6.1%. The historical average is 12.3%.
Based on historical data, Jbs N.V. is trading at a P/E of 5.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Jbs N.V.'s current dividend yield is 13.55% with a payout ratio of 79.4%.
Jbs N.V. has 12.8% gross margin and 4.8% operating margin.
Jbs N.V.'s Debt/EBITDA ratio is 3.6x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
High leverage and margin compression
Metrics are mathematically derived from official filings.
Margin Compression Across All Levels
Gross margin fell from 16.5% in 2024Q3 to 10.8% in 2026Q2, a 570 bps contraction, while operating margin dropped to 2.5%, according to reported quarterly data, indicating severe input cost pressure and limited pricing power.
The sequential deterioration in gross margin from 13.5% in 2025Q2 to 10.8% in 2026Q2 suggests that the company's ability to pass through higher livestock and feed costs is weakening, likely due to the tightening US cattle supply and record feeder cattle prices. Operating margin at 2.5% in 2026Q2 is barely above breakeven, and net margin turned negative at -0.4%, reflecting a sharp reversal from the 3.5% net margin in 2024Q3. This margin erosion appears to be driven by a combination of cyclical headwinds in the beef segment and possibly structural shifts in the revenue mix, as the company's high variable cost structure leaves little room for absorption of fixed costs when volumes decline.
Return on Capital Collapses to Near Zero
ROIC fell from 4.4% in 2024Q3 to 0.5% in 2026Q2, while ROE turned negative at -0.4%, based on reported figures, indicating that the company is no longer earning its cost of capital.
The sharp decline in ROIC from a peak of 4.4% in 2024Q3 to 0.5% in 2026Q2 suggests that the company's invested capital is generating minimal returns, a stark contrast to the 3.1% ROIC in 2025Q2. This deterioration is driven by both margin compression and a shrinking asset base, as total assets contracted from $251.9B to $45.8B, likely due to divestitures or impairments. The negative ROE in 2026Q2, despite a positive equity base, indicates that net losses are eroding shareholder value, and the company's ability to compound returns appears to be severely impaired. Investors should monitor whether the company can restore ROIC to its historical 3-4% range, as the current level suggests that capital allocation decisions may be destroying value.
Working Capital Efficiency Deteriorates Sharply
Cash conversion cycle jumped from 26 days in 2024Q4 to 81 days in 2026Q2, driven by a surge in DSO to 56 days and DIO to 110 days, according to reported quarterly data, indicating significant cash absorption.
The dramatic lengthening of the cash conversion cycle from 26 days in 2024Q4 to 81 days in 2026Q2 suggests that the company is facing slower collections and higher inventory levels, likely due to weakening demand or supply chain disruptions. DSO more than tripled from 16 days to 56 days, which may indicate that customers are delaying payments, possibly reflecting strained relationships or a shift in sales mix. DIO also rose sharply to 110 days, suggesting that inventory is piling up, which could be a sign of overproduction or declining sales. This deterioration in working capital efficiency is consuming cash, as evidenced by the negative free cash flow in 2026Q1, and may indicate that the company's operational agility is being tested.
Leverage Spikes to Critical Levels
Debt-to-equity ratio surged to 2.70 in 2026Q2 from 2.30 a year earlier, while interest coverage fell to 0.73x, based on reported figures, indicating that debt service is becoming increasingly uncomfortable.
The rise in D/E to 2.70, combined with a dramatic increase in D/EBITDA to 40.13x in 2026Q2 from 14.64x in 2025Q4, suggests that the company's earnings have collapsed relative to its debt load, making it highly vulnerable to interest rate fluctuations. Interest coverage of 0.73x in 2026Q2 indicates that operating income is insufficient to cover interest expenses, a sharp deterioration from 14.39x in 2025Q3. This suggests that the company may face refinancing risk, especially if earnings remain depressed, and could be forced to divert cash flow to debt service rather than growth or shareholder returns. The high leverage, combined with the recent EPS miss, warrants close monitoring of the company's ability to meet its debt obligations.
Liquidity Buffer Thins Rapidly
Cash and equivalents fell from $34.8B in 2024Q4 to $3.5B in 2026Q2, a 90% drop, while the current ratio improved slightly to 1.53, according to reported balance sheet data, indicating a shrinking liquidity cushion.
The sharp decline in cash reserves suggests that the company's liquidity position has deteriorated significantly, leaving a thinner buffer to absorb operational shocks. The current ratio of 1.53 in 2026Q2, while above 1.0, may be misleading as it relies on inventory, which has a longer conversion period, as evidenced by the elevated DIO of 110 days. The quick ratio of 0.93 indicates that excluding inventory, current assets barely cover current liabilities, suggesting that the company could face liquidity stress if it cannot quickly monetize inventory or collect receivables. Given the negative free cash flow in 2026Q1 and the high leverage, the company's ability to withstand a prolonged downturn appears limited.
Misapplied P/E Obscures Cyclical Distress
The trailing P/E of 6.85 appears cheap, but with negative EPS in 2026Q2 and forward P/E of 1.93, the metric is distorted by cyclical trough earnings, according to reported data, and may mislead investors.
The P/E ratio is commonly used to value JBS, but given the extreme cyclicality of the protein industry and the recent earnings collapse, the trailing P/E is not a reliable indicator of value. The forward P/E of 1.93 is based on analyst estimates that may not reflect the current margin compression, and the PEG of 0.16 suggests that the market is pricing in a rapid recovery that may not materialize. A more appropriate metric for JBS would be EV/EBITDA, which at 7.34x is still low but more stable, or a normalized earnings power that adjusts for the biological asset valuation and non-recurring items. Investors should focus on the company's ability to generate cash flow through the cycle, as the P/E may be artificially depressed by cyclical trough earnings, obscuring the true risk of the business model.