0000088121-26-000012
SEC filingSeaboard Corporation reported strong financial results for fiscal year 2025, with total net sales of $9.75 billion and net earnings attributable to Seaboard of $496 million. The company generated $693 million in gross income from $9.05 billion in total cost of sales and operating expenses, resulting in operating income of $239 million. Key profitability drivers included $138 million in income from affiliates and $103 million in other income, net, contributing to earnings before income taxes of $410 million. The company maintained solid cash generation with $568 million in net cash from operating activities, though investing activities used $543 million primarily for capital expenditures of $562 million and short-term investment activities. The balance sheet shows total assets of $8.25 billion, with $3.63 billion in current assets including $1.05 billion in short-term investments and $1.51 billion in inventories. Total liabilities stood at $3.01 billion against total equity of $5.24 billion, indicating a strong equity position.
Seaboard Corporation delivered solid financial performance for fiscal year 2025, with total net sales of $9.75 billion and net earnings attributable to Seaboard of $496 million. The company achieved earnings before income taxes of $410 million, supported by $138 million in income from affiliates and $103 million in other income, net. Operating income totaled $239 million after $454 million in selling, general and administrative expenses. Comprehensive income attributable to Seaboard reached $531 million, including $35 million in other comprehensive income net of tax. Earnings per share were $514 for both basic and diluted calculations based on approximately 964,000 average shares outstanding. The company maintained strong profitability metrics with gross income of $693 million on $9.05 billion in total cost of sales and operating expenses.
The filing does not provide segment breakdown or geographic mix data for revenue analysis. The XBRL data and document text only report consolidated total net sales of $9.75 billion without further segmentation by business unit, product line, or geographic region. No information is provided about revenue growth drivers, customer concentration, or market segment performance. The absence of segment disclosure in the provided data limits detailed revenue analysis beyond the consolidated figures.
Seaboard Corporation achieved a gross margin of 7.1% based on $693 million gross income from $9.75 billion total net sales. Operating margin was 2.5% with $239 million operating income. The cost structure shows $9.05 billion in total cost of sales and operating expenses, representing 92.8% of total net sales. Selling, general and administrative expenses totaled $454 million, or 4.7% of total net sales. Interest expense was $70 million, partially offset by $138 million income from affiliates. The effective tax rate was approximately 22.2% based on $91 million income tax expense against $410 million earnings before income taxes.
The company generated strong operating cash flow of $568 million, exceeding net earnings of $501 million. Key adjustments included $318 million in depreciation and amortization, $138 million income from affiliates, and $91 million dividends received from affiliates. Investing activities used $543 million, primarily for $562 million in capital expenditures and $80 million purchase of long-term investments, partially offset by $2.91 billion proceeds from sale and maturity of short-term investments. Free cash flow (operating cash flow minus capital expenditures) was $25 million. The balance sheet shows total assets of $8.25 billion, including $3.63 billion current assets with $1.05 billion short-term investments and $1.51 billion inventories. Total liabilities were $3.01 billion against $5.24 billion total equity, resulting in a debt-to-equity ratio of approximately 0.57.
The filing does not provide management guidance, strategic priorities, or specific forward-looking statements about the company's outlook. No information is included about expected performance for fiscal year 2026, market conditions, growth initiatives, or risk factors that might affect future results. The absence of outlook disclosure in the provided data limits analysis of the company's future prospects beyond the reported historical financial results for fiscal year 2025.