Seaboard Corporation Common Stock (SEB)

FairStock Score: 61/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for an asset I can buy below what it is worth. Seaboard is an old-line conglomerate—pork, commodity trading and milling, marine, liquid fuels, power, turkey—with $9.7B of revenue and $501.0M of net income in FY2025, the year ended 2025-12-31, a huge rebound from $90.0M in FY2024, the year ended 2024-12-31. In fiscal Q2 2026, the quarter ended 2026-07-04, revenue was $2.9B and net income $154.0M, up from $2.5B and $104.0M in fiscal Q2 2025, the quarter ended 2025-06-28. That is real operating momentum. But this is not a wide-moat compounder. FairStock's ROCE of 2.61% is thin, and trailing free cash flow is negative $23.0M, a -0.6% FCF yield. The balance sheet is reasonable—D/E 0.36—but Altman Z 2.36 and Piotroski 6/9 tell me it is not fortress-like. The Lynch classification as an asset play is apt: at $3,972.39 on 2026-10-13, it trades at 0.69× book and 6.01× earnings per FairStock, while the Graham Number is $9,226.13, implying a 56.94% margin of safety. EV/EBITDA is 5.60, PEG 0.12. So I see a cheap, cyclical, asset-heavy business with improving earnings and a large statistical discount, but weak cash conversion and low returns on capital. The margin of safety may protect the downside; the question is whether management can make the assets earn more than their book value suggests.

In plain English: Seaboard runs pork production, commodity trading and milling, ocean shipping, and energy businesses around the world. The business looks mixed: sales and profits have improved recently, but it is not currently generating spare cash after investments and earns modest returns on its large asset base. The stock looks inexpensive compared with its accounting value and reported profits, though that cheapness comes with cyclical and cash-flow risks.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-07-04) · fiscal Q1 2026 10-Q (period ended 2026-04-04) · fiscal Q3 2025 10-Q (period ended 2025-09-27) · fiscal Q2 2025 10-Q (period ended 2025-06-28) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer