IMPORTANT DISCLAIMER: Blank Capital Research ("BCR") is a technology platform, not a registered investment advisor or broker-dealer. The algorithmically generated signals, scores, and rankings provided on this site ("God Mode" Signals) are for informational and research purposes only and do not constitute financial advice, investment recommendations, or an offer to sell or solicit an offer to buy any securities.
HYPOTHETICAL PERFORMANCE RESULTS: The "timing scores" and "regime signals" displayed are based on quantitative models. Hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity.
RISK OF LOSS: Trading in financial markets involves a high degree of risk and may result in the loss of your entire investment. Data provided by third-party sources (Intrinio, Snowflake) is believed to be reliable but is not guaranteed for accuracy or completeness. Past performance is not indicative of future results.
Relative to Consumer Staples Sector Median (N=180)
Metric
SEB
Benchmark
P/E Ratio
57.0x
+72%
EV/EBITDA
26.8x
+287%
Price / Book
1.1x
Implied Value Audit
OVERVALUED
Implied Fair Value (vs Sector)
-17.1%
$4,941.18Spot: $5,958.89
Spot
Implied
-50% Delta+50% Delta
Relative valuation derived from Consumer Staples sector median benchmarks. Model weights: EV/EBITDA (40%), P/B (35%), P/S (25%). Multiples adjusted for extreme outliers and non-recurring volatility.
Auditing capital efficiency...
Quality Profile Audit
Score: 44.5GRADE C
Composite assessment of profitability, capital efficiency, and financial strength. Top-tier entities demonstrate sustainable cash flow generation.
Return on Equity
Profit generated per dollar of shareholder equity
1.8%
Sector: 7.7%
Dividend Analysis audit
GROWTH
0.24%
Trailing Yield
$0.24
Per $100 Invested
Modest dividend — capital prioritized for reinvestment.
Est. Payout Ratio
14%SAFE
Analyst Projections
Analyst Consensus
Unlock Valuation Tools
Sign up for free access to institutional-quality research tools.
Based on our 6-factor quantitative model, SEABOARD CORP /DE/ (SEB) receives a "Hold" rating with a composite score of 55.8/100, ranked #283 out of 4446 stocks. Key factor scores: Quality 45/100, Value 61/100, Momentum 71/100. This is quantitative analysis only — not investment advice.
SEABOARD CORP /DE/ (SEB) Stock Analysis — April 2026 Rating, Price, and Forecast
Company Overview — What Does SEABOARD CORP /DE/ Do?
Seaboard Corporation operates as an agribusiness and transportation company worldwide. It operates through six segments: Pork, Commodity Trading and Milling (CT&M), Marine, Sugar and Alcohol, Power, and Turkey. The Pork segment produces and sells fresh and frozen pork products to further processors, foodservice operators, grocery stores, and distributors; hogs; and biodiesel. The CT&M segment sources, transports, and markets wheat, corn, soybeans, soybean meal, and other commodities; and produces wheat flour, maize meal, manufactured feed, and oilseed crush commodities. The Marine segment provides cargo shipping services in the United States, as well as in 26 countries in the Caribbean, and Central and South America; dry, refrigerated, and specialized containers, as well as other related equipment; and operates a terminal and an off-port warehouse for cargo consolidation and temporary storage. As of December 31, 2021, this segment operated through a fleet of 20 chartered and 4 owned vessels. The Sugar and Alcohol segment produces and sells sugar and alcohol; and generates and sells energy through its 51-megawatt cogeneration power plant that is fueled by sugarcane by-products, natural gas, and other biomass. The Power segment operates as an independent power producer that generates electricity for the power grid in the Dominican Republic. The Turkey segment produces and processes organic turkey products to retail stores, foodservice outlets, and industrial entities, as well as exports products to Mexico and internationally. The company also processes and sells jalapeño peppers. Seaboard Corporation was founded in 1918 and is headquartered in Merriam, Kansas. SEABOARD CORP /DE/ (SEB) is classified as a mid-cap stock in the Consumer Staples sector, specifically within the Wholesale industry. The company is led by CEO Robert L. Steer and employs approximately 13,000 people, headquartered in Shawnee Mission, Kansas. With a market capitalization of $5.5B, SEB is one of the notable companies in the Consumer Staples sector.
SEABOARD CORP /DE/ (SEB) Stock Rating — Hold (April 2026)
As of April 2026, SEABOARD CORP /DE/ receives a Hold rating with a composite score of 55.8/100 and 3 out of 5 stars from the Blank Capital Research quantitative model.SEB ranks #283 out of 4,446 stocks in our coverage universe. Within the Consumer Staples sector, SEABOARD CORP /DE/ ranks #12 of 180 stocks, placing it in the top 10% of its Consumer Staples peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).
SEB Stock Price and 52-Week Range
SEABOARD CORP /DE/ (SEB) currently trades at $5958.89. The 52-week high for SEB is $5654.00, which means the stock is currently trading 5.4% from its annual peak. The 52-week low is $2437.00, putting the stock 144.5% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.
Is SEB Overvalued or Undervalued? — Valuation Analysis
SEABOARD CORP /DE/ (SEB) carries a value factor score of 61/100 in the Blank Capital model, indicating fair valuation relative to historical norms. The trailing price-to-earnings ratio is 56.97x, compared to the Consumer Staples sector average of 33.11x — a premium of 72%. The price-to-book ratio stands at 1.06x, versus the sector average of 1.74x. The price-to-sales ratio is 0.58x, compared to 0.35x for the average Consumer Staples stock. On an enterprise value basis, SEB trades at 26.83x EV/EBITDA, versus 6.93x for the sector.
Overall, SEB's valuation appears roughly in line with sector benchmarks, suggesting the market is pricing the stock fairly given its current fundamentals and growth trajectory. Neither deep value nor significantly overpriced, the stock occupies a middle ground on valuation.
SEABOARD CORP /DE/ Profitability — ROE, Margins, and Quality Score
SEABOARD CORP /DE/ (SEB) earns a quality factor score of 45/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 1.8%, compared to the Consumer Staples sector average of 7.7%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 1.2% versus the sector average of 3.1%.
On a margin basis, SEABOARD CORP /DE/ reports gross margins of 6.7%, compared to 26.2% for the sector. The operating margin is 2.1% (sector: 2.9%). Net profit margin stands at 0.8%, versus 1.6% for the average Consumer Staples stock. Revenue growth is running at 15.0% on a trailing basis, compared to 3.1% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.
SEB Debt, Balance Sheet, and Financial Health
SEABOARD CORP /DE/ has a debt-to-equity ratio of 58.0%, compared to the Consumer Staples sector average of 72.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 2.40x, indicating strong short-term liquidity. Total debt on the balance sheet is $1.50B. Cash and equivalents stand at $205M.
SEB has a beta of 0.28, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for SEABOARD CORP /DE/ is 80/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.
SEABOARD CORP /DE/ Revenue and Earnings History — Quarterly Trend
In TTM 2026, SEABOARD CORP /DE/ reported revenue of $9.55B and earnings per share (EPS) of $514.46. Net income for the quarter was $97M. Gross margin was 6.7%. Operating income came in at $206M.
In FY 2025, SEABOARD CORP /DE/ reported revenue of $9.75B and earnings per share (EPS) of $514.46. Net income for the quarter was $501M. Gross margin was 7.1%. Revenue grew 7.1% year-over-year compared to FY 2024. Operating income came in at $239M.
In Q3 2025, SEABOARD CORP /DE/ reported revenue of $2.54B and earnings per share (EPS) of $113.71. Net income for the quarter was $110M. Gross margin was 7.8%. Revenue grew 14.5% year-over-year compared to Q3 2024. Operating income came in at $84M.
In Q2 2025, SEABOARD CORP /DE/ reported revenue of $2.48B and earnings per share (EPS) of $105.22. Net income for the quarter was $104M. Gross margin was 6.5%. Revenue grew 12.3% year-over-year compared to Q2 2024. Operating income came in at $52M.
Over the past 8 quarters, SEABOARD CORP /DE/ has demonstrated a growth trajectory, with revenue expanding from $2.21B to $9.55B. Investors analyzing SEB stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.
SEB Dividend Yield and Income Analysis
SEABOARD CORP /DE/ (SEB) currently pays a dividend yield of 0.2%. At this yield, a $10,000 investment in SEB stock would generate approximately $$24.00 in annual dividend income. This compares to the Consumer Staples sector average dividend yield of 0.4%, meaning SEB yields less than the typical sector peer.
SEB Momentum and Technical Analysis Profile
SEABOARD CORP /DE/ (SEB) has a momentum factor score of 71/100, indicating strong price momentum with the stock outperforming the majority of the market over recent periods. Stocks with high momentum scores have historically tended to continue their outperformance in the near term. The investment factor score is 27/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 48/100 reflects moderate short selling activity.
SEB vs Competitors — Consumer Staples Sector Ranking and Peer Comparison
Comparing SEB against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full SEB vs S&P 500 (SPY) comparison to assess how SEABOARD CORP /DE/ stacks up against the broader market across all factor dimensions.
SEB Next Earnings Date
No upcoming earnings date has been announced for SEABOARD CORP /DE/ (SEB) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.
Should You Buy SEB? — Investment Thesis Summary
SEABOARD CORP /DE/ presents a balanced picture with arguments on both sides. The value score of 61/100 suggests attractive pricing relative to fundamentals. Price momentum is positive at 71/100, suggesting the trend favors buyers. Low volatility (stability score 80/100) reduces downside risk.
In summary, SEABOARD CORP /DE/ (SEB) earns a Hold rating with a composite score of 55.8/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on SEB stock.
We'll email you when stocks you follow change their composite rating.
Institutional Research Dossier
SEABOARD CORP /DE/ (SEB) Deep Dive Analysis
Published on March 24, 2026
Action RatingHold
Sections
Executive Summary
We maintain our Hold rating on Seaboard Corporation (SEB), driven by a mixed assessment of its operational performance and valuation. While the company exhibits attractive value multiples compared to its sector, its profitability metrics and free cash flow generation raise concerns. The diversified nature of Seaboard's business segments provides some stability, but the inherent volatility within the agribusiness and transportation industries necessitates a cautious approach.
The primary takeaway is that Seaboard's current valuation appears reasonable given its earnings, but significant improvements in operational efficiency and free cash flow are needed to justify a more bullish outlook. Investors should closely monitor the company's ability to navigate commodity price fluctuations, manage its debt load, and improve its returns on invested capital.
Business Strategy & Overview
Seaboard Corporation operates as a diversified agribusiness and transportation conglomerate, with six distinct segments: Pork, Commodity Trading and Milling (CT&M), Marine, Sugar and Alcohol, Power, and Turkey. This diversification is a core element of its strategy, allowing it to mitigate risks associated with any single commodity or geographic region. The Pork segment, a significant revenue driver, focuses on producing and selling fresh and frozen pork products, catering to a wide range of customers from further processors to retail outlets. The CT&M segment engages in the sourcing, transportation, and marketing of grains and oilseeds, as well as the production of flour, feed, and oilseed crush commodities. This segment benefits from global trade flows and the increasing demand for agricultural products.
The Marine segment provides cargo shipping services, primarily in the Americas, utilizing a mix of owned and chartered vessels. This segment is crucial for facilitating the movement of goods within Seaboard's own supply chains and for external customers. The Sugar and Alcohol segment produces sugar and alcohol, while also generating power from sugarcane by-products and other sources. This integrated approach allows for efficient resource utilization and revenue diversification. The Power segment operates an independent power producer in the Dominican Republic, contributing to the local energy grid. Finally, the Turkey segment focuses on producing and processing organic turkey products, catering to the growing demand for healthier food options.
Seaboard's strategic positioning involves vertical integration within its various segments, aiming to control costs and improve efficiency. For example, the Pork segment benefits from Seaboard's control over hog production, processing, and distribution. Similarly, the CT&M segment benefits from its ability to source, transport, and process commodities. This vertical integration provides a degree of insulation from market fluctuations and allows for better coordination across the value chain.
However, the company faces challenges related to commodity price volatility, transportation costs, and regulatory changes. The agribusiness industry is inherently cyclical, with prices fluctuating based on supply and demand factors, weather conditions, and geopolitical events. Seaboard must effectively manage these risks through hedging strategies, efficient operations, and diversification. The company's product pipeline is not explicitly detailed in the provided information, but it likely involves ongoing efforts to improve product quality, expand into new markets, and develop innovative solutions for its customers.
Execution Benchmarks audit
Revenue Growth
YOY expansion rate
15.0%
Sector: 3.1%
+376% VS SCTR
Economic Moat Analysis
Seaboard's economic moat is best characterized as Narrow. While the company possesses certain competitive advantages, they are not strong enough to create a wide and sustainable moat. The diversified nature of its operations provides some resilience, but each segment faces intense competition and is subject to external factors that limit its pricing power.
In the Pork segment, Seaboard benefits from its scale and vertical integration, which allows for cost efficiencies. However, the pork industry is highly competitive, with numerous large players vying for market share. While Seaboard may have some cost advantages, they are not insurmountable, and competitors can replicate many of its practices. The CT&M segment operates in a commodity market, where products are largely undifferentiated. While Seaboard's global sourcing and transportation network provide some advantages, these are not unique, and the company is subject to the same price pressures as its competitors. There are no significant network effects or switching costs in this segment.
The Marine segment benefits from its established routes and relationships with customers in the Americas. However, the shipping industry is highly competitive, with numerous players offering similar services. Seaboard's fleet of owned and chartered vessels provides some flexibility, but it is not a unique asset that creates a significant barrier to entry. The Sugar and Alcohol segment benefits from its integrated operations and cogeneration power plant. However, the sugar industry is subject to government regulations and price controls, which limit Seaboard's pricing power. The Power segment operates in a regulated market, which provides some stability, but also limits its growth potential. The Turkey segment faces competition from other organic turkey producers, and Seaboard's brand recognition is not strong enough to create a significant competitive advantage.
Overall, Seaboard's competitive advantages are primarily related to its scale, vertical integration, and diversified operations. However, these advantages are not strong enough to create a wide and sustainable moat. The company faces intense competition in each of its segments, and its pricing power is limited by commodity price fluctuations, regulatory changes, and the availability of substitutes. Therefore, we believe that Seaboard's economic moat is narrow, providing some protection from competition but not guaranteeing long-term profitability.
Financial Health & Profitability
Seaboard's financial health presents a mixed picture. While the company demonstrates solid revenue growth, its profitability metrics and free cash flow generation are concerning. Revenue has grown from $9.10B in FY2024 to $9.75B in FY2025, representing a 7.1% increase. This growth is commendable, especially considering the challenging economic environment. However, the company's net income has fluctuated significantly, from $90.00M in FY2024 to $501.00M in FY2025. This volatility highlights the sensitivity of Seaboard's earnings to external factors such as commodity prices and transportation costs.
The company's gross margin and operating margin are relatively low compared to the sector average. Seaboard's gross margin of 6.7% is significantly lower than the sector average of 26.0%, while its operating margin of 2.1% is also lower than the sector average of 3.1%. This indicates that Seaboard is facing challenges in controlling its costs and improving its operational efficiency. The company's ROE of 1.8% is also significantly lower than the sector average of 7.8%, suggesting that it is not generating sufficient returns on its equity.
Seaboard's balance sheet is moderately leveraged, with a total debt of $1.50B and a debt-to-equity ratio of 58.00, which is lower than the sector average of 70.50. The company's current ratio of 2.40 indicates that it has sufficient liquidity to meet its short-term obligations. However, the company's free cash flow is negative, with a TTM value of $-330.08M. This is a significant concern, as it indicates that Seaboard is not generating enough cash from its operations to cover its capital expenditures and other obligations. The negative free cash flow may necessitate additional borrowing or asset sales to fund the company's operations.
Analyzing the quarterly financial history reveals further insights. The company's revenue has been relatively stable over the past few quarters, but its net income has been volatile. In Q3 FY2024, the company reported a net loss of $-149.00M, while in Q3 FY2025, it reported a net income of $110.00M. This volatility underscores the challenges that Seaboard faces in managing its earnings. The company's gross margin and operating margin have also fluctuated from quarter to quarter, reflecting the impact of commodity price fluctuations and other external factors.
Valuation Assessment
Seaboard's valuation presents a compelling case for value investors, but requires careful consideration of its operational performance. The company's P/E ratio of 9.6x is significantly lower than the sector average of 34.2x, suggesting that the stock is undervalued relative to its earnings. Similarly, its EV/EBITDA ratio of 4.9x is lower than the sector average of 7.3x, further supporting the undervaluation thesis. However, these multiples must be viewed in the context of Seaboard's lower profitability and negative free cash flow.
While the low P/E and EV/EBITDA ratios may indicate undervaluation, they also reflect the market's concerns about Seaboard's operational efficiency and free cash flow generation. The company's lower gross margin, operating margin, and ROE compared to the sector average suggest that it is not generating sufficient returns on its assets. The negative free cash flow is a significant concern, as it indicates that Seaboard is not generating enough cash from its operations to cover its capital expenditures and other obligations. This may necessitate additional borrowing or asset sales, which could further depress the stock price.
To accurately assess Seaboard's valuation, it is crucial to consider its growth prospects and the sustainability of its earnings. While the company has demonstrated solid revenue growth in recent years, its earnings have been volatile. The agribusiness industry is inherently cyclical, and Seaboard's earnings are sensitive to commodity price fluctuations, transportation costs, and regulatory changes. Therefore, it is difficult to predict the company's future earnings with certainty.
Given the mixed picture of Seaboard's valuation, we believe that the stock is fairly valued at its current price. The low P/E and EV/EBITDA ratios suggest that the stock is undervalued relative to its earnings, but the company's lower profitability and negative free cash flow raise concerns. Investors should closely monitor Seaboard's operational performance and free cash flow generation to determine whether the stock is truly undervalued. If the company can improve its operational efficiency and generate positive free cash flow, the stock could potentially appreciate significantly. However, if the company continues to struggle with profitability and free cash flow, the stock may remain undervalued.
Risk & Uncertainty
Seaboard faces several specific risks that could negatively impact its business and financial performance. Commodity price volatility is a significant risk, as the company's earnings are sensitive to fluctuations in the prices of pork, grains, sugar, and other commodities. A sharp decline in commodity prices could significantly reduce Seaboard's revenue and profitability. The company attempts to mitigate this risk through hedging strategies, but these strategies are not always effective.
Regulatory changes also pose a risk to Seaboard's operations. The company is subject to various regulations related to food safety, environmental protection, and trade. Changes in these regulations could increase Seaboard's costs and reduce its competitiveness. For example, stricter environmental regulations could require the company to invest in new equipment and processes, while changes in trade policies could disrupt its supply chains.
Competition is another significant risk, as Seaboard operates in highly competitive industries. The company faces competition from other large agribusiness and transportation companies, as well as smaller regional players. Increased competition could lead to lower prices and reduced market share. Seaboard must continuously innovate and improve its efficiency to maintain its competitive position.
Leverage is a risk, as Seaboard has a significant amount of debt on its balance sheet. This debt increases the company's financial risk and could make it more difficult to weather economic downturns. A rise in interest rates could also increase Seaboard's borrowing costs and reduce its profitability.
Bulls Say / Bears Say
The Bull Case
BULL VIEWSeaboard's low valuation multiples (P/E and EV/EBITDA) relative to the sector suggest significant upside potential if the company can improve its operational efficiency and free cash flow generation.
BULL VIEWThe diversified nature of Seaboard's business segments provides resilience against economic downturns and commodity price fluctuations, offering a more stable investment profile than pure-play agribusiness companies.
BULL VIEWSeaboard's vertical integration within its Pork segment provides a cost advantage and greater control over the supply chain, potentially leading to improved profitability in the long term.
The Bear Case
BEAR VIEWSeaboard's negative free cash flow and low profitability metrics (ROE, gross margin, operating margin) raise concerns about its ability to generate sustainable returns for shareholders.
BEAR VIEWThe company's sensitivity to commodity price volatility and regulatory changes creates significant uncertainty and makes it difficult to predict future earnings.
BEAR VIEWSeaboard's lack of a wide economic moat and intense competition in its various segments limit its pricing power and ability to generate above-average returns.
About the Author
Marques Blank
Founder & Chief Investment Officer, Blank Capital
Marques brings 15 years of institutional finance and investing experience, having overseen financial planning for a $1.6B defense business unit. He developed the proprietary 6-factor quantitative model used to score SEB and 4,400+ other equities.
SEABOARD CORP /DE/ exhibits a 96% valuation premium relative to institutional benchmarks. This represents a potential valuation overextension based on current multiples.
Return on Assets
Efficiency of asset utilization
1.2%
Sector: 3.1%
Gross Margin
Pricing power and cost efficiency
6.7%
Sector: 26.2%
Operating Margin
Core business profitability
2.1%
Sector: 2.9%
Net Margin
Bottom-line profitability
0.8%
Sector: 1.6%
Factor Methodology
The Quality factor evaluates the persistence and magnitude of cash flows. Companies with scores >70 exhibit superior competitive moats and financial resilience through economic cycles.
Sector Avg Yield0.38%
Yield Delta-37%
Income Projection audit
A $10,000 investment would generate approximately $24 annually in dividends at the current trailing rate.
