Latest Ratios: P/E Ratio 7.7x · EV/EBITDA 10.0x · ROE 9.9%. (1996–2025 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 | $3.8B | $4.3B | $2.4B | $4.0B | $4.4B | $4.6B | $3.5B | $5.0B | $4.1B | $5.2B | $4.6B |
| Enterprise Value | $5.5B | $5.9B | $4.1B | $5.6B | $5.8B | $6.2B | $4.9B | $6.4B | $4.9B | $5.7B | $5.2B |
| P/E Ratio → | 7.70 | 8.61 | 26.81 | 17.66 | 7.56 | 8.01 | 12.44 | 17.27 | — | 20.90 | 14.83 |
| P/S Ratio | 0.39 | 0.44 | 0.26 | 0.42 | 0.39 | 0.49 | 0.49 | 0.72 | 0.63 | 0.89 | 0.86 |
| P/B Ratio | 0.73 | 0.82 | 0.50 | 0.86 | 0.87 | 1.03 | 0.92 | 1.38 | 1.24 | 1.51 | 1.46 |
| P/FCF | 634.39 | 714.22 | 294.92 | 19.56 | 21.69 | — | 110.02 | — | 54.49 | 71.70 | 17.20 |
| P/OCF | 6.70 | 7.54 | 4.55 | 5.62 | 6.48 | 49.65 | 12.10 | 28.98 | 17.40 | 21.07 | 10.83 |
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 | — | 0.61 | 0.45 | 0.59 | 0.52 | 0.68 | 0.69 | 0.94 | 0.74 | 0.99 | 0.96 |
| EV / EBITDA | 10.00 | 10.88 | 8.71 | 28.61 | 6.52 | 9.82 | 11.86 | 25.79 | 13.14 | 15.95 | 15.57 |
| EV / EBIT | 24.01 | 20.52 | 26.60 | — | 8.88 | 14.01 | 21.79 | 63.33 | 21.37 | 24.75 | 21.79 |
| EV / FCF | — | 988.38 | 508.67 | 27.49 | 28.79 | — | 154.55 | — | 64.12 | 79.77 | 19.28 |
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 | 6.9% | 6.9% | 6.3% | 3.3% | 9.2% | 8.9% | 8.1% | 6.5% | 8.4% | 9.5% | 9.2% |
| Operating Margin | 2.3% | 2.3% | 1.7% | -0.9% | 5.8% | 5.0% | 3.4% | 1.6% | 3.6% | 4.1% | 4.3% |
| Net Profit Margin | 5.1% | 5.1% | 1.0% | 2.4% | 5.2% | 6.2% | 4.0% | 4.2% | -0.3% | 4.3% | 5.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.9% | 9.9% | 1.9% | 4.7% | 12.3% | 13.8% | 7.6% | 8.3% | -0.5% | 7.5% | 10.3% |
| ROA | 6.2% | 6.2% | 1.2% | 2.9% | 7.5% | 8.1% | 4.3% | 4.8% | -0.3% | 5.0% | 6.8% |
| ROIC | 2.6% | 2.6% | 1.8% | -1.0% | 7.8% | 6.0% | 3.6% | 1.8% | 4.4% | 4.7% | 4.8% |
| ROCE | 3.5% | 3.5% | 2.5% | -1.4% | 10.7% | 8.0% | 4.5% | 2.2% | 5.3% | 5.8% | 6.0% |
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 | 0.35 | 0.35 | 0.38 | 0.36 | 0.33 | 0.40 | 0.39 | 0.43 | 0.28 | 0.20 | 0.20 |
| Debt / EBITDA | 3.34 | 3.34 | 3.87 | 8.54 | 1.83 | 2.76 | 3.60 | 6.31 | 2.50 | 1.94 | 1.91 |
| Net Debt / Equity | — | 0.31 | 0.36 | 0.35 | 0.29 | 0.38 | 0.37 | 0.40 | 0.22 | 0.17 | 0.18 |
| Net Debt / EBITDA | 3.02 | 3.02 | 3.66 | 8.25 | 1.61 | 2.64 | 3.42 | 5.81 | 1.97 | 1.61 | 1.68 |
| Debt / FCF | — | 274.17 | 213.75 | 7.93 | 7.10 | — | 44.53 | — | 9.63 | 8.07 | 2.08 |
| Interest Coverage | 4.13 | 4.13 | 2.13 | -1.38 | 16.38 | 34.31 | 11.95 | 2.81 | 5.18 | 8.00 | 8.21 |
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 | 2.40 | 2.40 | 2.50 | 2.52 | 2.63 | 2.61 | 3.12 | 2.87 | 3.86 | 3.82 | 3.63 |
| Quick Ratio | 1.40 | 1.40 | 1.50 | 1.42 | 1.53 | 1.54 | 2.02 | 1.96 | 2.82 | 2.87 | 2.66 |
| Cash Ratio | 0.81 | 0.81 | 0.83 | 0.77 | 0.84 | 0.96 | 1.43 | 1.31 | 1.95 | 2.07 | 1.72 |
| Asset Turnover | — | 1.18 | 1.19 | 1.26 | 1.42 | 1.23 | 1.08 | 1.04 | 1.24 | 1.13 | 1.13 |
| Inventory Turnover | 5.99 | 5.99 | 6.05 | 6.32 | 6.12 | 5.06 | 5.56 | 5.89 | 7.40 | 6.74 | 6.41 |
| Days Sales Outstanding | — | 28.31 | 31.73 | 28.59 | 29.96 | 30.14 | 27.25 | 34.47 | 30.55 | 30.29 | 42.55 |
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 | 0.2% | 0.2% | 5.0% | 0.3% | 0.2% | 0.2% | 0.3% | 0.2% | 0.2% | 0.1% | — |
| Payout Ratio | 1.8% | 1.8% | 133.0% | 4.4% | 1.7% | 1.8% | 3.5% | 3.5% | — | 2.8% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 13.0% | 11.6% | 3.7% | 5.7% | 13.2% | 12.5% | 8.0% | 5.8% | — | 4.8% | 6.7% |
| FCF Yield | 0.2% | 0.1% | 0.3% | 5.1% | 4.6% | — | 0.9% | — | 1.8% | 1.4% | 5.8% |
| Buyback Yield | 1.0% | 0.9% | 0.3% | 15.0% | 0.0% | 0.0% | 0.4% | 0.3% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 1.1% | 5.3% | 15.3% | 0.2% | 0.2% | 0.7% | 0.5% | 0.3% | 0.1% | 0.0% |
| Shares Outstanding | — | $964113 | $971055 | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SEB stock.
Seaboard Corporation's current P/E ratio is 7.7x. The historical average is 15.0x. This places it at the 18th percentile of its historical range.
Seaboard Corporation's current EV/EBITDA is 10.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.8x.
Seaboard Corporation's return on equity (ROE) is 9.9%. The historical average is 10.8%.
Based on historical data, Seaboard Corporation is trading at a P/E of 7.7x. This is at the 18th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Seaboard Corporation's current dividend yield is 0.23% with a payout ratio of 1.8%.
Seaboard Corporation has 6.9% gross margin and 2.3% operating margin.
Seaboard Corporation's Debt/EBITDA ratio is 3.3x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.
Key Metrics
Top Statement Risk
Thin gross margins and input cost volatility
Metrics are mathematically derived from official filings.
Margin Divergence Masks Core Weakness
Seaboard's operating margin of 3.4% in 2026Q2 remains thin, while net margin of 5.2% is propped up by non-operating items. According to recent SEC filings, this divergence suggests earnings quality depends on equity method investments.
The gap between operating and net margins has persisted for ten quarters, with net margin averaging 4.9% versus operating margin of 2.3%. This indicates that core operations, particularly CT&M and Pork, are barely covering input costs, while the bottom line is supplemented by equity earnings from affiliates like Butterball. Investors should monitor whether this reliance on non-operating income can sustain if commodity spreads compress further.
Capital Efficiency Trapped by Asset-Heavy Model
ROIC has hovered between 0.3% and 1.4% over the past ten quarters, with 2026Q2 at 1.1%. As reported in financial statements, this suggests the company is not compounding returns on its $8.7B asset base, despite a fortress balance sheet.
ROE improved to 2.8% in 2026Q2 from 0.5% in 2024Q1, but remains far below the cost of equity, indicating value destruction relative to capital employed. The heavy investment in PPE ($3.2B) and low asset turnover (0.34x) imply that the business requires significant capital to generate modest returns. This may reflect the cyclical trough in protein and grain markets, but the lack of improvement over ten quarters warrants caution.
Working Capital Swings Signal Operational Volatility
Cash conversion cycle extended to 72 days in 2026Q2, up from 75 days a year earlier, driven by DIO of 59 days and DPO of just 13 days. Based on reported figures, this indicates Seaboard is funding its inventory with its own cash rather than supplier credit.
The CCC has remained elevated between 72 and 83 days over the past ten quarters, with DPO consistently below 16 days, suggesting limited negotiating power with suppliers. This is unusual for a conglomerate with $8.7B in assets and may reflect the commodity trading nature of CT&M, where suppliers demand faster payment. The negative FCF margin in four of the last five quarters is partly attributable to these working capital outflows, which averaged $213M in 2026Q2.
Minimal Debt Masks Hidden Obligations
Seaboard's D/E ratio of 0.29 in 2026Q2 is exceptionally low, with interest coverage of -1.30x due to negative net interest expense. According to recent financial statements, this suggests the company has ample financial flexibility, but the equity method stake in Butterball may carry off-balance-sheet liabilities.
Total debt of $1.6B is modest relative to equity of $5.5B, and the negative interest coverage indicates the company earns more interest income than it pays, a sign of conservative capital management. However, the 50% stake in Butterball is not consolidated, so its debt and liabilities are not reflected in these ratios. Investors should monitor the cash position, which has declined to $145M from $205M in 2025Q3, to ensure it remains sufficient for working capital needs.
Liquidity Buffer Strong but Cash Eroding
Current ratio of 2.40 in 2026Q2 remains healthy, but cash has fallen to $145M from $205M in 2025Q3. As reported in the balance sheet, this suggests the liquidity cushion is thinning even as the company maintains a fortress balance sheet.
The quick ratio of 1.33 indicates that even without inventory, Seaboard can cover short-term obligations, but the declining cash balance and negative FCF margins raise concerns about sustainability. The company has not relied on debt to fund operations, but if working capital swings continue, it may need to tap its $1.6B debt capacity. The current ratio has been stable around 2.4, but the trend in cash warrants monitoring.
P/E Misleads on Cyclical Conglomerate
Seaboard's P/E of 8.25 appears cheap, but it is distorted by non-operating income and cyclical trough earnings. Based on reported figures, a more appropriate metric is EV/EBITDA, which at 10.50x better captures the company's operating performance and capital structure.
The P/E ratio is commonly misapplied to Seaboard because net income includes significant equity method earnings from Butterball and other non-operating items, which are not part of core operations. This inflates earnings and makes the stock look undervalued relative to peers like Tyson (P/E 42.94) and Hormel (P/E 27.67). EV/EBITDA of 10.50x is more comparable to peers and reflects the true cost of the business, including debt and cash. Investors should also consider P/B of 0.78, which suggests the market is valuing the asset base below book value, possibly due to the conglomerate discount.