JBS · sample dossier
JBS N.V.
45/100
AgingGenerated Nov 7, 2026 · 11:00 AM UTC · 1 day ago
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EquityJBS N.V. · XNYS
Decision context
Recommendation
Balanced between solid Value (92/100) and constrained Growth (24/100).
A mixed picture — no strong reason to buy or sell right now.
AlphaDog Fair Value
Executive thesis & key metrics
Executive Investment Thesis
JBS N.V. is a global protein processor trading at a market capitalization of $13.36B with an EV/EBITDA of 6.58 and a P/E multiple of 11.66 as of 2026-11-07. Top-line revenue increased 13.8% YoY in the latest quarter, yet profitability contracted severely with EPS growth dropping -120.8% YoY to a net margin of 1.2%. The primary risk is balance sheet leverage, highlighted by a Debt/Equity ratio of 2.83 and an Altman Z-score of 2.90 situated in the grey zone.
Key Metrics to Watch
What changed recently
No material changes found in the last 30 days.
Why this rating
Score 45 · Hold
Data through
AgingJun 30, 2026
Value 92/100 — P/E 11.7x screens cheap vs inputs.
Re-evaluate if
- Severe accounting disclosures (auditor / restatement / going concern) in SEC filings
- Net margin falls below 1.0% (was 1.2%)
Trim / reconsider if
- ROA falls below 3.2% (was 4.9%)
- Debt/Equity expands above the current 2.83 multiple.
Think of these dollars as a map of our value estimate for Hold — helpful context, not a reason to override the view.
A Calmer Look · Devil's Advocate
Both sides of the JBS N.V. story, next to the Hold above
The prevailing consensus assigns JBS a neutral 'Hold' with a tilt toward cyclical caution, yet both the bull and bear camps underestimate the structural fragility created by a 2.83 Debt/Equity ratio on a razor-thin 1.2% net margin.
May be overlooked
The 2026-08-19 Form 8-K restatement risk flag compromises historical book values and reported earnings quality, directly threatening the reliability of the 1.6 P/B and 7/9 Piotroski F-score.
Neither side models the debt service sensitivity of a 2.83 Debt/Equity structure when TTM free cash flow per share is only $0.14 and net margin sits at 1.2%.
Global CFO Guilherme Perboyre Cavalcanti liquidated 183,501 shares ($2.54M) on 2026-08-24 immediately after leadership changes and restatement filings, signaling insider skepticism during operational deterioration.
Expectations look stretched
Extrapolating 13.8% YoY top-line revenue expansion ($23.90B vs $21.61B QoQ) as business strength while ignoring the concurrent collapse in profitability to -$0.10 EPS.
Assuming an EV/EBITDA of 6.58 provides downside valuation support when gross margins of 11.8% provide zero structural buffer against animal feed input cost swings.
Relying on a Piotroski F-score of 7/9 to validate operational discipline despite Return on Assets of only 4.9% and four consecutive quarters of margin compression.
Net margin drops below the current 1.2% level.
Net margin drops below the current 1.2% level.
Monitor These Triggers
3 Checkpoints · Next PrintMarket context
Snapshot returns at report publication
1 month
-2.1%
3 months
-6.9%
6 months
-22.5%
1 year
-7.8%
At a Glance
A large company has mixed momentum at modest pricing.
Top Holders
As of Jun 30, 2026Financial trajectory
Financial Performance
Go deeper
For learning and research only — not investment advice. AlphaDog doesn’t hold stocks and isn’t your financial advisor.
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