JBT Marel (JBTM) FY2025 results: revenue $3.8 billion, up 121.3% on the year
JBT Marel Corp. (JBTM) reported revenue of $3.8 billion for fiscal 2025, the year ended 31 December 2025, up 121.3% on the year before. Net income was -$50 million, and diluted earnings per share $-0.98. The figures are the company's own, from the 10-K it filed with the SEC on 2 March 2026.
Revenue
$3.8 billion
+121.3% on the year
FY2018FY2025
Operating margin
5.0%
6.9% a year earlier
FY2018FY2025
Net income
-$50 million
FY2018FY2025
Diluted EPS
-$0.98
FY2018FY2025
this yearthe year beforeHover a bar for its figure.
The year in brief
What management said about the year
Guidance figures: 13 new.
Revenue reached $3.8 billion: Full year revenue was $3,798.2 million against $1,716.0 million in 2024, including about $77 million of foreign exchange translation benefit year over year.
Loss from continuing operations: The company reported a loss from continuing operations of $50 million, a margin of (1.3) percent, after acquisition, pension, M&A and restructuring items.
Adjusted EBITDA margin 15.8 percent: Full year adjusted EBITDA was $600 million at a 15.8 percent margin. Diluted loss per share from continuing operations was $0.96, and adjusted EPS was $6.41.
Synergy savings and run rate: Synergy savings were about $43 million year over year in 2025, and the annualized run rate exiting the year was about $85 million.
Full year orders reached $3.8 billion: Full year inbound orders were $3,842.7 million, against $1,788.3 million in 2024, and included about $79 million of year-over-year foreign exchange translation benefit.
$ 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
FY2025
FY2024
FY2023
On the year
Last 8 years
Operating cash flow
342
234
39.6
+46.3%
Capital expenditure
104
37.9
55.1
+173.4%
Free cash flow
238
196
-15.5
+21.7%
Free cash flow margin
6.3%
11.4%
-0.9%
Cash from financing
458
562
-354
-18.5%
Depreciation and amortisation
266
89.4
91.3
+197.8%
Share-based compensation
23.2
14.7
11.4
+57.8%
Buybacks
0.0
0.0
5.1
Dividends paid
20.9
13.1
12.8
+59.5%
Dividend per share
$0.40
$0.40
$0.40
0.0%
Diluted shares, weighted
52m
32m
32m
+61.5%
Shares outstanding at period end
52m
32m
32m
+63.2%
Balance sheet
$ million
FY2025
FY2024
FY2023
On the year
Last 8 years
Shareholders' equity
4,464
1,544
1,489
+189.1%
Debt
1,882
1,252
646
+50.3%
Operating lease liabilities
56.2
21.7
27.2
+159.0%
Finance lease liabilities
6.0
1.4
1.4
+328.6%
Other liabilities
1,783
594
546
+199.9%
Total liabilities and equity
8,191
3,414
2,710
+139.9%
Fixed assets
793
234
248
+239.3%
Goodwill
3,428
769
780
+345.8%
Intangible assets
2,122
341
389
+522.5%
Cash and equivalents
168
1,228
483
-86.3%
Receivables
443
240
214
+84.8%
Inventory
644
233
239
+176.1%
Other assets
593
369
357
+60.6%
Total assets
8,191
3,414
2,710
+139.9%
10-K for the year ended 31 December 2025, filed 2 March 2026: the filing.