SEBSEABOARD CORP /DE/
Wholesale-Farm Product Raw Materials
- Revenue
- $9.7B
- 7.1% YoY
- Operating margin
- 2.5%
- 43% YoY
- EBITDA
- $557M
- 19% YoY
- Market cap
- $3.7B
- Employees
- —
- Net debt / EBITDA
- 1.1×
- $590M net debt
- AI in 10-K
- 0.2
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 0 of 7
- TSR below peersNo—3+ of last 5 years
- High CEO pay despite TSRNo—Median CEO pay ≥ $15M while TSR trails
- Earnings not backed by cashNo—Cash flow under 80% of net income
- Dilutive SBCNo—Over 10% of revenue
- Payouts exceed cash flowNo8% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo2% of assetsOver 40% of assets
- Shareholder dissentNo90% lowest supportAny vote under 80% support
Buyer economics 2 of 4
- Low revenue per employeeNo—Bottom quartile of its SIC industry
- Quiet on AIYes0.2 per 10K words · 13th pctBottom quartile of AI mentions in 10-Ks
- Net cashNo1.1× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedYes$3.7B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo$0 netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $9.2B | $11.2B | $9.6B | $9.1B | $9.7B | 7.1% |
| Operating income | $458M | $657M | −$87M | $156M | $239M | 53% |
| Operating cash flow | $92M | $676M | $710M | $519M | $568M | 9.4% |
| Capex | $460M | $474M | $506M | $511M | $562M | 10.0% |
| Buybacks | — | — | $600M | $8M | $39M | 388% |
| Dividends | $10M | $10M | $10M | $9M | $9M | 0.0% |
Deal filings
None.
13D filers
| Filed | Filer | Form | Stake | Intent |
|---|---|---|---|---|
| Oct 10, 2023 | Bresky Ellen S. | SC 13D/A | 73.7% | Passive |
| Jul 11, 2023 | Bresky Ellen S. | SC 13D/A | 78.0% | Passive |
| Jul 28, 2020 | Bresky Ellen S. | SC 13D/A | 78.3% | Passive |
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.