At a glance
JBTMarel Corp is worth $5.58B. Revenue grew 121.3% to $3.80B in fiscal 2025, at a loss; over 3 years it has grown 33.7% a year. It pays a 0.37% dividend yield, and returned $85.5M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −15.5% over the past year with dividends reinvested, against +11.5% for the S&P 500.
The business in plain English
JBT Marel designs, builds and services the machines that food and beverage companies use to process, cook, preserve and package their products. Its customers include multinational and regional producers of poultry, meat, seafood, juice, dairy, bakery goods, ready meals and pet food. Its equipment ranges from poultry cut-up lines and x-ray bone detection to ovens, freezers, juice extractors, fillers and labelers. It often supplies these as a full processing line.
The combined company dates from January 2, 2025. On that day John Bean Technologies completed its acquisition of Marel hf. and renamed itself JBT Marel. On August 1, 2023, it had completed the sale of its AeroTech business to Oshkosh Corporation so it could focus on food and beverage. Its shares trade on the NYSE and also on Nasdaq Iceland.
Revenue was $3.8 billion in 2025. Prepared Food and Beverage Solutions brought in 54.8%. This segment covers cooking, freezing, filling and packaging, plus pet food, dairy, bakery and warehouse robots. Protein Solutions brought in 45.2%. It handles the early stages of processing poultry, pork, fish and beef. Half of revenue was recurring, meaning repeat income from spare parts, service, rebuilds and equipment leases on machines customers already own. Customers outside the US accounted for 62.1% of revenue.
Price history
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JBTM -15.5% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Prepared Food and Beverage Solutions | $2.08B | 54.8% |
| Protein Solutions | $1.72B | 45.2% |
By geography
| Non-US | $2.36B | 62.1% |
| United States | $1.44B | 37.9% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $981.0M, up 4.9% from a year earlier, and net income was $28.0M (+833.3%).
- For fiscal 2025, revenue was $3.80B (+121.3% year over year; +33.7% a year from FY2022 to FY2025) with a -1.3% net margin.
Financial health check
| Revenue growth a year (FY2022–FY2025) | +33.7% good |
|---|---|
| Operating margin | 5% watch |
| Free cash flow margin | 6.3% watch |
| Return on equity (FY2025) | -1.1% weak |
| Return on assets (FY2025) | -0.6% weak |
| Net cash (cash minus debt) | $-1.56B weak |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.73B | $108.8M | $217.7M |
| FY2021 | $1.87B | $119.1M | $174.0M |
| FY2022 | $1.59B | $137.4M | $57.7M |
| FY2023 | $1.66B | $582.6M | $19.1M |
| FY2024 | $1.72B | $85.4M | $194.7M |
| FY2025 | $3.80B | $-50.5M | $238.1M |
Valuation snapshot
| Market value | $5.58B |
|---|---|
| P/E ratio | — |
| Dividend yield | 0.37% |
Rank among 1514 US companies
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| JBTM price data to Oct 28, 2026 | -28.4% | -15.5% | — | — | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | -28.4% |
| 2025 | +18.4% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 2 sales ($2.8M), 2 of them under pre-arranged 10b5-1 trading plans.
| Date | Insider | Type | Value |
|---|---|---|---|
| Mar 2, 2026 | Brian A Deck CEO, Director | sell (plan) | $1.5M |
| Mar 3, 2026 | Brian A Deck CEO, Director | sell (plan) | $1.3M |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 14.5% | Dec 31, 2025 |
| Vanguard Portfolio Management | 5.47% | Mar 31, 2026 |
| T. Rowe Price Associates, Inc. | 5.3% | Mar 31, 2026 |
| Vanguard Capital Management | 5.24% | Mar 31, 2026 |
ETFs with the most weight in JBTM
| BOTT Themes Robotics & Automation ETF | 3.22% |
| BOTZ Global X Robotics & Artificial Intelligence ETF | 2.65% |
| PSCI Invesco S&P SmallCap Industrials ETF | 2.17% |
| HAPS Harbor Human Capital Factor US Small Cap ETF | 0.77% |
| ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF | 0.68% |
| VIOV Vanguard S&P Small-Cap 600 Value ETF | 0.55% |
| VIOO Vanguard S&P Small-Cap 600 ETF | 0.46% |
| VTWV Vanguard Russell 2000 Value ETF | 0.45% |
What could go wrong
- Marel merger benefits may fall short. The company acquired Marel on January 2, 2025. The expected synergies, meaning savings and gains from combining the businesses, may arrive late or not at all. Integration costs could also exceed estimates.
- Control weaknesses found at Marel. The company has disclosed material weaknesses in Marel's internal controls. These are serious gaps in the checks that keep financial reports accurate. More could surface, which raises the risk of misstated accounts.
- Animal and crop diseases can hurt customers. Bird flu (H5N1), mad cow disease (BSE), citrus tree diseases, freezes, droughts and hurricanes can hurt meat, poultry and juice producers. Those customers may then spend less on equipment.
- Heavy reliance on parts and service. Repeat income from parts, service, rebuilds and leases made up 50% of 2025 revenue. If customers source parts elsewhere or fewer machines stay in use, this steadier income could shrink.
- Fixed-price contracts and lumpy orders. The company takes on some large projects at a fixed price, so it absorbs cost overruns such as higher steel prices. Order sizes and timing vary widely, which can make quarterly results swing sharply.
- Tariffs, sanctions and Russian operations. Customers outside the US provided 62.1% of 2025 revenue. Tariffs and sanctions have already hurt the business. Sanctions over Russia's invasion of Ukraine could lead it to limit or close its Russian operations.
Recent events
- Quarterly results released
- Shareholder vote results
- Other company announcement
- Quarterly results released
- Investor presentation or announcement
- Quarterly results released
- Investor presentation or announcement
- Quarterly results released
For income and retirement investors
JBT Marel pays a small dividend that has not been raised. It paid $0.40 per share in every year from 2020 through 2025. The yield was 0.37% as of October 28, 2026. A 2025 net loss of $50.5 million left no profit to measure a payout against. Dividends used about 8.8% of 2025 free cash flow, the cash left after running and investing in the business. Buybacks totaled $12.8 million over fiscal 2021–2025, with none in 2024 or 2025. Over the same stretch, the share count rose 63.3%, from July 2021 to July 2026.
The JBTM price history covers only about 1.8 years as of October 28, 2026. It cannot show how the shares fared in the 2008, 2020 or 2022 market downturns. In that window the shares fell as much as 38% from a peak. With so small a payout, the stock provides little cash income, and returns depend mostly on the share price. Single stocks carry more risk than diversified funds.
Questions investors ask
How does JBT Marel make money?
JBT Marel designs, builds and services the equipment that food and beverage companies use to process and package their products. Revenue was $3.8 billion in 2025. Prepared Food and Beverage Solutions (cooking, freezing, filling and packaging) contributed 54.8%. Protein Solutions (early-stage poultry, pork, fish and beef processing) contributed 45.2%. Half of 2025 revenue was recurring, from spare parts, service, rebuilds and leases on machines already installed in customer plants. Customers outside the US accounted for 62.1% of revenue.
Does JBT Marel raise its dividend every year?
No. JBT Marel paid $0.40 per share in each year from 2020 through 2025, with no increases. The yield was 0.37% as of October 28, 2026. The company had a net loss in 2025, so there was no profit to measure a payout ratio against. The $20.9 million it paid in dividends that year used about 8.8% of its free cash flow. Free cash flow is the cash left after running and investing in the business.
Is JBT Marel profitable?
Not on a net basis for 2025. In its first year including Marel, JBT Marel reported a net loss of $50.5 million, or a loss of $0.98 per diluted share. Revenue rose 121.3% to $3.8 billion. Operating income was $189.4 million, a 5% margin. Operating income is the profit from the core business before interest and taxes. Free cash flow was $238.1 million. In the quarter ended June 30, 2026, net income was $28 million on revenue of $981 million, up 4.9% from a year earlier.
Why did JBT change its name to JBT Marel?
John Bean Technologies took the JBT Marel name when it completed its acquisition of Marel hf. on January 2, 2025. The deal created a larger food and beverage technology supplier. Shares began trading as JBTM on the NYSE and Nasdaq Iceland on January 3, 2025. With Marel included, revenue rose 121.3% to $3.8 billion in 2025. The company warns that the expected benefits of the merger may fall short. It has also disclosed material weaknesses, meaning serious gaps, in Marel's financial reporting controls.
How much debt does JBT Marel have?
As of June 30, 2026, JBT Marel had about $1.67 billion of total debt and $112 million of cash and investments. That left net debt (debt minus cash) of roughly $1.56 billion. Shareholders' equity was $4.47 billion. The annual report also flags convertible notes, which are bonds that can be swapped for shares and could dilute existing holders. It also flags large goodwill and intangible assets from acquisitions, which could be written down if their value falls.