JBS

MKT CAP:$37B

JBS N.V.

Market Cap

$37B

Consumer Defensive·Packaged Foods·🇳🇱 Netherlands·NYSE

Consumer Def.·Packaged Foods·🇳🇱·NYSE

Stock Price

$16.51+$2.33 (+16.43%)

Apr 24, 2026

Company Details

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...

CEO

Gilberto Tomazoni

IPO Date

Jun 13, 2025

Website

www.jbs.com.br

Key Metrics TTM

Revenue

$96.7B

+19.1% YoY

Net Income

$2.3B

EPS (Diluted)

$1.60

Free Cash Flow

$865M

Revenue / Share

$95.31

Gross Margin

13.0%

Operating Margin

4.8%

Net Margin

2.4%

FCF Margin

0.9%

P/S

0.4x

P/E

16.0x

Earnings Reports

Q1 2026

May 12, 2026

PENDING

FY 2025

Mar 25, 2026

$94.9B+13.0%EPS $2.10

Q4 2025

Mar 25, 2026

$25.4B+8.2%EPS $0.45

Q3 2025

Nov 13, 2025

$24.3BEPS $0.60

Q2 2025

Aug 13, 2025

$24.0B+18.3%EPS $0.28

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 21	$19.6B	$3.9B	$1.9B
Q1 22	$18.3B	$3.3B	$1.5B
Q2 22	$18.6B	$3.3B	$1.6B
Q3 22	$19.9B	$3.3B	$1.4B
Q4 22	$18.7B	$2.2B	$499M
Q1 23	$17.5B	$1.5B	-$123M
Q2 23	$18.0B	$2.0B	$307M
Q3 23	$18.4B	$2.2B	$526M
Q4 23	$19.4B	$2.2B	$358M
Q1 24	$18.0B	$2.4B	$721M
Q2 24	$20.3B	$3.1B	$1.2B
Q4 24	$23.5B	$3.5B	$1.1B
Q1 25	$23.0B	$3.1B	$1.0B
Q2 25	$24.0B	$3.2B	$1.3B
Q3 25	$24.3B	$3.2B	$1.3B
Q4 25	$25.4B	$3.1B	$1.0B

Valuation

Quarter	P/S	P/E
Q4 21	0.5x	7.8x
Q1 22	0.4x	6.8x
Q2 22	0.4x	6.9x
Q3 22	0.4x	8.2x
Q4 22	0.4x	10.3x
Q1 23	0.4x	18.0x
Q2 23	0.4x	34.4x
Q3 23	0.4x	132.4x
Q4 23	0.4x	—
Q1 24	0.4x	78.3x
Q2 24	0.4x	39.7x
Q4 24	0.4x	27.3x
Q1 25	0.4x	18.4x
Q2 25	0.4x	15.9x
Q3 25	0.4x	14.4x
Q4 25	0.2x	7.1x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 21	$1.9B	$1.2B
Q1 22	-$113M	-$554M
Q2 22	$606M	$77M
Q3 22	$1.2B	$633M
Q4 22	$962M	$269M
Q1 23	-$886M	-$1.2B
Q2 23	$758M	$365M
Q3 23	$1.1B	$691M
Q4 23	$1.4B	$983M
Q1 24	-$235M	-$518M
Q2 24	$1.6B	$1.2B
Q4 24	$1.8B	$1.2B
Q1 25	-$653M	-$965M
Q2 25	$592M	$78M
Q3 25	$1.1B	$543M
Q4 25	$2.1B	$1.2B

Capital Expenditures

Quarter	CapEx
Q4 21	$675M
Q1 22	$441M
Q2 22	$530M
Q3 22	$598M
Q4 22	$693M
Q1 23	$346M
Q2 23	$393M
Q3 23	$369M
Q4 23	$401M
Q1 24	$284M
Q2 24	$363M
Q4 24	$624M
Q1 25	$312M
Q2 25	$513M
Q3 25	$516M
Q4 25	$939M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 21	+27.8%	+23.2%
Q1 22	+20.8%	+18.2%
Q2 22	+7.7%	+8.0%
Q3 22	+6.8%	+12.5%
Q4 22	-4.5%	+2.8%
Q1 23	-4.6%	+4.6%
Q2 23	-3.0%	+4.0%
Q3 23	-7.6%	-3.4%
Q4 23	+3.7%	+4.6%
Q1 24	+2.8%	-2.0%
Q2 24	+12.6%	+7.8%
Q4 24	+27.7%	+25.1%
Q1 25	+18.5%	+15.2%
Q2 25	+33.5%	+31.7%
Q3 25	+19.8%	+20.4%
Q4 25	+8.2%	+9.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 21	$4M	0.0%
Q1 22	$2M	0.0%
Q2 22	$2M	0.0%
Q3 22	$2M	0.0%
Q4 22	$1M	0.0%
Q1 23	$2M	0.0%
Q2 23	$2M	0.0%
Q3 23	$2M	0.0%
Q4 23	$622.1K	0.0%
Q1 24	$5M	0.0%
Q2 24	$3M	0.0%
Q4 24	$7M	0.0%
Q1 25	$8M	0.0%
Q2 25	$8M	0.0%
Q3 25	$5M	0.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q4 21	—	$664M	$1.1B	—
Q1 22	—	$640M	$1.2B	—
Q2 22	—	$559M	$1.2B	—
Q3 22	—	$587M	$1.3B	—
Q4 22	$9M	$560M	$1.3B	—
Q1 23	—	$538M	$1.2B	—
Q2 23	—	$492M	$1.1B	—
Q3 23	$2M	$575M	$1.1B	—
Q4 23	$1M	$633M	$1.2B	—
Q1 24	$1M	$553M	$1.0B	—
Q2 24	—	$689M	$1.1B	—
Q4 24	—	$638M	$1.5B	—
Q1 25	—	$667M	$1.2B	—
Q2 25	—	$645M	$1.2B	—
Q3 25	—	$651M	$1.2B	—
Q4 25	—	—	—	$2.0B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$3.5B	$0	$3.5B
Q2 22	$3.9B	$0	$3.9B
Q3 22	$3.4B	$0	$3.4B
Q4 22	$2.7B	$0	$2.7B
Q1 23	$1.8B	$0	$1.8B
Q2 23	$2.6B	$0	$2.6B
Q3 23	$5.4B	$0	$5.4B
Q4 23	$4.5B	$0	$4.5B
Q1 24	$3.3B	$0	$3.3B
Q2 24	$4.1B	$0	$4.1B
Q3 24	$5.6B	$0	$5.6B
Q4 24	$7.0B	$0	$7.0B
Q1 25	$5.6B	$0	$5.6B
Q2 25	$2.8B	$0	$2.8B
Q3 25	$3.6B	$0	$3.6B
Q4 25	$5.1B	$177M	$5.2B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 21	2.41B	-4.6%	-8.4%
Q1 22	2.25B	-6.5%	-10.8%
Q2 22	2.22B	-1.2%	-11.1%
Q3 22	2.22B	-0.2%	-12.0%
Q4 22	2.22B	-0.1%	-7.9%
Q1 23	2.22B	+0.1%	-1.4%
Q2 23	2.22B	+0.0%	-0.2%
Q3 23	2.22B	0.0%	+0.0%
Q4 23	2.08B	-6.5%	-6.4%
Q1 24	2.22B	+6.9%	0.0%
Q2 24	2.22B	0.0%	-0.0%
Q4 24	2.22B	0.0%	-0.0%
Q1 25	2.22B	0.0%	+6.9%
Q2 25	2.22B	0.0%	0.0%
Q3 25	2.22B	0.0%	0.0%
Q4 25	1.01B	-54.3%	-54.3%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 21	—	—
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q4 24	—	—
Q1 25	—	—
Q2 25	—	—
Q3 25	—	—
Q4 25	$89.9K	283K

Revenue / Employee