SEB SEABOARD CORP /DE/

Overview and Growth

Fiscal 2025 results for SEABOARD CORP /DE/ combined $9.75B of revenue with net income of $496.00M and an operating cash inflow of $568.00M. The $9.75B revenue base provides substantial context for the company’s earnings, cash generation, and capital requirements. The top line expanded 7.1% from $9.10B in fiscal 2024, increasing the company’s operating scale. On a per-share basis, diluted EPS was $514.46, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS increased by 467.7% from $90.62 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. Asset turnover was 1.18x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

After reported cost of revenue, the company retained $693.00M as gross profit before recognizing operating expenses and other items. The gross-profit relationship equaled 7.1% of revenue, quantifying the portion retained before operating expenses were recognized. Operations produced $239.00M of income after the reported operating expense base, before the remaining non-operating and tax effects. Relative to revenue, operating income represented 2.5%, showing how efficiently sales converted into operating profit. The bottom-line result was net income of $496.00M, after the operating, financing, tax, and other items recognized for the period. Measured against reported revenue, net income produced a 5.1% margin after operating costs and the remaining recognized items. The earnings statement records $410.00M of pretax income, the profit base against which the reported tax provision can be assessed. Measured against revenue, pretax income equaled 4.2%, adding a pre-tax profitability layer between revenue and net income. An income-tax benefit of $91.00M improved the final result relative to pretax income or loss. The tax benefit equaled 22.2% of positive pretax income, lifting the after-tax result.

Liquidity and Capital Structure

Total assets were $8.25B, supported by $3.01B of liabilities and $5.24B of shareholder equity. The near-term balance sheet paired $3.63B of current assets with $1.51B of current liabilities at the reporting date. Current assets covered current liabilities by 2.4x, leaving a positive buffer for near-term obligations. The company held $178.00M in cash and equivalents, a narrower liquidity measure than total current assets. Cash and equivalents represented 11.8% of current liabilities, showing the portion of near-term obligations matched by reported cash alone. Borrowings totaled $977.00M, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.19x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 11.8%, comparing borrowing with the total asset balance. Liabilities represented 36.5% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 2.2% of total assets, showing the liquid cash component within the company’s broader resource base. The asset base changed 7.6% from $7.67B in fiscal 2024, leaving current total assets higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $568.00M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. The operating-cash-flow-to-net-income relationship was 1.15x, comparing cash generated by operations with the bottom-line earnings result. The cash-flow statement records $562.00M of capital expenditures, the investment amount considered after operating cash generation. Capital expenditures represented 98.9% of operating cash flow, leaving the remainder available as free cash flow. Free cash flow came to $6.00M, leaving a positive amount after capital expenditures. The free-cash-flow margin was 0.1%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 0.1%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.