JBT Marel (JBTM) FY2023 results: revenue $1.7 billion, up 4.7% on the year
JBT Marel Corp. (JBTM) reported revenue of $1.7 billion for fiscal 2023, the year ended 31 December 2023, up 4.7% on the year before. Net income was $583 million, up 324.0%, and diluted earnings per share $18.13. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2025.
Revenue
$1.7 billion
+4.7% on the year
FY2016FY2023
Operating margin
9.9%
8.3% a year earlier
FY2016FY2023
Net income
$583 million
+324.0% on the year
FY2016FY2023
Diluted EPS
$18.13
+323.6% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
39.6
142
226
-72.2%
Capital expenditure
55.1
84.6
51.7
-34.9%
Free cash flow
-15.5
57.7
174
Free cash flow margin
-0.9%
3.6%
12.4%
Cash from investing
n/a
-416
-273
Cash from financing
-354
271
80.8
Depreciation and amortisation
91.3
81.1
76.8
+12.6%
Share-based compensation
11.4
8.9
5.5
+28.1%
Buybacks
5.1
7.7
0.0
-33.8%
Dividends paid
12.8
13.1
12.8
-2.3%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
32m
32m
32m
0.0%
Shares outstanding at period end
32m
32m
32m
-0.0%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,489
905
786
+64.4%
Short-term borrowings
n/a
0.6
0.0
Debt
646
977
674
-33.9%
Operating lease liabilities
27.2
29.1
23.0
-6.5%
Finance lease liabilities
1.4
0.9
0.0
+55.6%
Other liabilities
546
728
701
-24.9%
Total liabilities and equity
2,710
2,641
2,185
+2.6%
Fixed assets
248
245
240
+1.1%
Goodwill
780
770
647
+1.2%
Intangible assets
389
430
325
-9.6%
Investments
n/a
0.0
n/a
Cash and equivalents
483
71.7
76.9
+574.1%
Receivables
214
200
165
+6.9%
Inventory
239
264
184
-9.5%
Other assets
357
659
547
-45.8%
Total assets
2,710
2,641
2,185
+2.6%
10-K for the year ended 31 December 2023, filed 28 February 2025: the filing.