JBT MAREL Corp
JBTM NYSE Special Industry Machinery (No Metalworking Machinery) Financials FY2016–FY2025
Revenue
Total sales reported in the income statement.
$3.8B
121.3%
vs prior year
Operating margin
Operating income as a share of revenue.
5.0%
1.9 pts
Net income
Profit after all expenses, interest and tax.
−$50.5M
159.1%
Free cash flow
Cash from operations minus capital spending.
$238M
22.3%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
2.4%
4.3 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On $3.70 EPS (TTM)
What JBT MAREL Corp does
No business description yet.
- Legal name
- JBT MAREL Corp
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 2, 2026
- Accession · CIK
- 0001433660-26-000053
0001433660
Revenue and margins
JBT MAREL Corp had $3.8B of revenue in fiscal 2025, up 121.3% on the year before.
FY16
Revenue $1.4B
FY17
Revenue $1.6B
FY18
Revenue $1.9B
FY19
Revenue $1.9B
FY20
Revenue $1.7B
FY21
Revenue $1.9B
FY22
Revenue $1.6B
FY23
Revenue $1.7B
FY24
Revenue $1.7B
FY25
Revenue $3.8B
Q3 '23
Revenue $454M
Q4 '23
Revenue $445M
Q1 '24
Revenue $392M
Q2 '24
Revenue $421M
Q3 '24
Revenue $454M
Q4 '24
Revenue $468M
Q1 '25
Revenue $854M
Q2 '25
Revenue $935M
Q3 '25
Revenue $1.0B
Q4 '25
Revenue $1.0B
Q1 '26
Revenue $936M
Q2 '26
Revenue $981M
FY16
Gross 11.7%
Operating 7.5%
Net 5.0%
FCF 2.2%
FY17
Gross 11.6%
Operating 8.8%
Net 4.9%
FCF 4.1%
FY18
Gross 12.2%
Operating 7.5%
Net 5.4%
FCF 5.9%
FY19
Gross 13.5%
Operating 9.7%
Net 6.6%
FCF 3.7%
FY20
Gross 12.9%
Operating 9.4%
Net 6.3%
FCF 12.6%
FY21
Gross 11.8%
Operating 6.7%
Net 6.4%
FCF 9.3%
FY22
Gross 16.0%
Operating 8.3%
Net 8.6%
FCF 3.6%
FY23
Gross 35.2%
Operating 9.9%
Net 35.0%
FCF 1.1%
FY24
Gross 36.5%
Operating 6.9%
Net 5.0%
FCF 11.3%
FY25
Gross 35.1%
Operating 5.0%
Net −1.3%
FCF 6.3%
Gross
Operating
Net
FCF
Q3 '23
Gross 43.0%
Operating 8.1%
Net 97.3%
FCF 4.9%
Q4 '23
Gross 36.2%
Operating 12.4%
Net 18.2%
FCF −6.8%
Q1 '24
Gross 35.8%
Operating 7.4%
Net 5.8%
FCF −0.0%
Q2 '24
Gross 38.5%
Operating 6.4%
Net 7.3%
FCF 2.6%
Q3 '24
Gross 36.1%
Operating 10.3%
Net 8.6%
FCF 14.3%
Q4 '24
Gross 38.4%
Operating 3.4%
Net −1.5%
FCF 25.4%
Q1 '25
Gross 34.2%
Operating −3.9%
Net −20.3%
FCF 1.6%
Q2 '25
Gross 35.8%
Operating 5.1%
Net 0.3%
FCF 9.0%
Q3 '25
Gross 35.9%
Operating 10.2%
Net 6.6%
FCF 5.7%
Q4 '25
Gross 34.5%
Operating 7.2%
Net 5.3%
FCF 8.3%
Q1 '26
Gross 35.1%
Operating 7.3%
Net 4.8%
FCF 9.9%
Q2 '26
Gross 36.6%
Operating 4.7%
Net 2.9%
FCF 7.8%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income $67.6M
FY17
Net income $80.5M
FY18
Net income $104M
FY19
Net income $129M
FY20
Net income $109M
FY21
Net income $119M
FY22
Net income $137M
FY23
Net income $583M
FY24
Net income $85.4M
FY25
Net income −$50.5M
Q3 '23
Net income $442M
Q4 '23
Net income $81.1M
Q1 '24
Net income $22.8M
Q2 '24
Net income $30.7M
Q3 '24
Net income $38.9M
Q4 '24
Net income −$7.0M
Q1 '25
Net income −$173M
Q2 '25
Net income $3.0M
Q3 '25
Net income $66.0M
Q4 '25
Net income $53.1M
Q1 '26
Net income $45.0M
Q2 '26
Net income $28.0M
FY16
Diluted EPS $2.27
FY17
Diluted EPS $2.53
FY18
Diluted EPS $3.23
FY19
Diluted EPS $4.02
FY20
Diluted EPS $3.39
FY21
Diluted EPS $3.71
FY22
Diluted EPS $4.28
FY23
Diluted EPS $18.13
FY24
Diluted EPS $2.65
FY25
Diluted EPS −$0.98
Q3 '23
Diluted EPS $13.73
Q4 '23
Diluted EPS $2.52
Q1 '24
Diluted EPS $0.71
Q2 '24
Diluted EPS $0.95
Q3 '24
Diluted EPS $1.21
Q4 '24
Diluted EPS −$0.22
Q1 '25
Diluted EPS −$3.35
Q2 '25
Diluted EPS $0.07
Q3 '25
Diluted EPS $1.26
Q4 '25
Diluted EPS $1.04
Q1 '26
Diluted EPS $0.86
Q2 '26
Diluted EPS $0.54
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 11.3%
Return on equity 37.6%
Return on assets 5.7%
FY17
Return on capital 11.9%
Return on equity 25.9%
Return on assets 6.2%
FY18
Return on capital 14.5%
Return on equity 23.2%
Return on assets 7.3%
FY19
Return on capital 11.9%
Return on equity 25.1%
Return on assets 7.7%
FY20
Return on capital 10.6%
Return on equity 17.5%
Return on assets 5.8%
FY21
Return on capital 7.0%
Return on equity 16.3%
Return on assets 6.0%
FY22
Return on capital 6.3%
Return on equity 16.2%
Return on assets 5.7%
FY23
Return on capital 8.4%
Return on equity 48.7%
Return on assets 21.8%
FY24
Return on capital 6.7%
Return on equity 5.6%
Return on assets 2.8%
FY25
Return on capital 2.4%
Return on equity −1.7%
Return on assets −0.9%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $238M in fiscal 2025, 6.3% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $30.3M
FY17
Free cash flow $66.7M
FY18
Free cash flow $114M
FY19
Free cash flow $72.3M
FY20
Free cash flow $218M
FY21
Free cash flow $174M
FY22
Free cash flow $57.7M
FY23
Free cash flow $19.1M
FY24
Free cash flow $195M
FY25
Free cash flow $238M
Q3 '23
Free cash flow $22.1M
Q4 '23
Free cash flow −$30.3M
Q1 '24
Free cash flow −$0.1M
Q2 '24
Free cash flow $11.1M
Q3 '24
Free cash flow $65.0M
Q4 '24
Free cash flow $119M
Q1 '25
Free cash flow $14.0M
Q2 '25
Free cash flow $84.0M
Q3 '25
Free cash flow $56.6M
Q4 '25
Free cash flow $83.5M
Q1 '26
Free cash flow $93.0M
Q2 '26
Free cash flow $77.0M
FY16
Cash from operations $67.4M
Capital spending $37.1M
FY17
Cash from operations $105M
Capital spending $37.9M
FY18
Cash from operations $154M
Capital spending $39.8M
FY19
Cash from operations $110M
Capital spending $37.9M
FY20
Cash from operations $252M
Capital spending $34.3M
FY21
Cash from operations $226M
Capital spending $51.7M
FY22
Cash from operations $142M
Capital spending $84.6M
FY23
Cash from operations $74.2M
Capital spending $55.1M
FY24
Cash from operations $233M
Capital spending $37.9M
FY25
Cash from operations $342M
Capital spending $104M
Cash from operations
Capital spending
Q3 '23
Cash from operations $33.0M
Capital spending $10.9M
Q4 '23
Cash from operations −$21.4M
Capital spending $8.9M
Q1 '24
Cash from operations $10.4M
Capital spending $10.5M
Q2 '24
Cash from operations $21.6M
Capital spending $10.5M
Q3 '24
Cash from operations $71.9M
Capital spending $6.9M
Q4 '24
Cash from operations $129M
Capital spending $10.0M
Q1 '25
Cash from operations $34.0M
Capital spending $20.0M
Q2 '25
Cash from operations $103M
Capital spending $19.0M
Q3 '25
Cash from operations $87.3M
Capital spending $30.7M
Q4 '25
Cash from operations $117M
Capital spending $33.9M
Q1 '26
Cash from operations $119M
Capital spending $26.0M
Q2 '26
Cash from operations $102M
Capital spending $25.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
JBT MAREL Corp returned $20.9M to shareholders in fiscal 2025, 9% of free cash flow. The diluted share count rose 61.5%.
FY16
Dividends $11.8M
Buybacks $4.3M
FY17
Dividends $12.7M
Buybacks $5.0M
FY18
Dividends $13.1M
Buybacks $20.0M
FY19
Dividends $12.7M
Buybacks $0.0M
FY20
Dividends $12.8M
Buybacks $0.0M
FY21
Dividends $12.8M
Buybacks $0.0M
FY22
Dividends $13.1M
Buybacks $7.7M
FY23
Dividends $12.8M
Buybacks $5.1M
FY24
Dividends $13.1M
Buybacks $0.0M
FY25
Dividends $20.9M
Buybacks $0.0M
Dividends
Buybacks
Q3 '23
Dividends $3.3M
Buybacks $0.0M
Q4 '23
Dividends $3.1M
Buybacks $5.1M
Q1 '24
Dividends $3.2M
Buybacks —
Q2 '24
Dividends $3.2M
Buybacks —
Q3 '24
Dividends $3.2M
Buybacks —
Q4 '24
Dividends $3.5M
Buybacks —
Q1 '25
Dividends $5.0M
Buybacks —
Q2 '25
Dividends $6.0M
Buybacks —
Q3 '25
Dividends $4.7M
Buybacks —
Q4 '25
Dividends $5.2M
Buybacks —
Q1 '26
Dividends $5.0M
Buybacks —
Q2 '26
Dividends $6.0M
Buybacks —
Dividends
Buybacks
FY16
Diluted shares 0.03B
FY17
Diluted shares 0.03B
FY18
Diluted shares 0.03B
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.03B
FY23
Diluted shares 0.03B
FY24
Diluted shares 0.03B
FY25
Diluted shares 0.05B
Balance sheet
Cash, debt and the ratios that show how comfortably JBT MAREL Corp can carry it.
FY16
Cash $33.2M
Debt $497M
FY17
Cash $34.0M
Debt $376M
FY18
Cash $43.0M
Debt $388M
FY19
Cash $39.5M
Debt $699M
FY20
Cash $47.5M
Debt $525M
FY21
Cash $78.8M
Debt $674M
FY22
Cash $71.7M
Debt $979M
FY23
Cash $483M
Debt $649M
FY24
Cash $1.2B
Debt $1.3B
FY25
Cash $168M
Debt $1.9B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $78.8M | $71.7M | $483M | $1.2B | $168M |
| Debt incl. finance leases | $674M | $979M | $649M | $1.3B | $1.9B |
| Net debt / EBITDA | 2.9x | 4.2x | 0.6x | 0.1x | 3.8x |
| Debt / equity | 0.9x | 1.1x | 0.4x | 0.8x | 0.4x |
| Interest coverage | 11.2x | 8.1x | 6.8x | 6.1x | 1.7x |
| Current ratio | 1.3x | 1.5x | 2.3x | 3.5x | 1.0x |
| Quick ratio | 0.9x | 1.1x | 1.8x | 3.0x | 0.6x |
| Total assets | $2.1B | $2.6B | $2.7B | $3.4B | $8.2B |
| Total liabilities | $1.4B | $1.7B | $1.2B | $1.9B | $3.7B |
| Shareholders' equity | $787M | $905M | $1.5B | $1.5B | $4.5B |
| Net debt (− = net cash) | $596M | $908M | $165M | $26.1M | $1.7B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Return on assets rose | — | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✕ | ✕ |
| Cash from operations exceeds net income | ✕ | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | ✕ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✕ | ✓ |
| Current ratio rose | — | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✓ | ✓ | ✕ | ✕ |
| Gross margin rose | — | ✕ | ✓ | ✓ | ✕ | ✕ | ✓ | ✓ | ✓ | ✕ |
| Revenue rose relative to assets | — | ✓ | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✕ | ✕ |
| F-score | — / 3 | 7 / 9 | 7 / 9 | 5 / 9 | 4 / 9 | 4 / 9 | 6 / 9 | 8 / 9 | 5 / 9 | 3 / 9 |
| Accruals ratio | 0.0% | −1.9% | −3.5% | 1.1% | −7.7% | −5.4% | −0.2% | 19.0% | −4.8% | −6.8% |
| Altman Z'' | 2.00 | 2.66 | 2.70 | 2.81 | 2.94 | 2.64 | 2.74 | 4.94 | 5.12 | 1.96 |
10 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $1.4B | $1.6B | $1.9B | $1.9B | $1.7B | $1.9B | $1.6B | $1.7B | $1.7B | $3.8B |
| Gross profit | $158M | $190M | $234M | $264M | $224M | $220M | $255M | $586M | $627M | $1.3B |
| Research and development | $23.6M | $28.7M | $26.9M | $28.5M | $29.3M | $22.0M | $23.0M | $20.5M | $20.9M | $116M |
| Operating income | $101M | $144M | $144M | $188M | $163M | $126M | $133M | $165M | $118M | $189M |
| Interest expense | $9.4M | $13.6M | $13.9M | $18.8M | $13.9M | $11.2M | $16.3M | $24.3M | $19.4M | $114M |
| Pretax income | $94.0M | $132M | $129M | $167M | $146M | $120M | $120M | $153M | $95.3M | −$62.4M |
| Income tax | $26.0M | $50.1M | $24.6M | $37.6M | $36.7M | $27.0M | $16.2M | $23.5M | $10.7M | −$13.1M |
| Net income | $67.6M | $80.5M | $104M | $129M | $109M | $119M | $137M | $583M | $85.4M | −$50.5M |
| Diluted EPS | $2.27 | $2.53 | $3.23 | $4.02 | $3.39 | $3.71 | $4.28 | $18.13 | $2.65 | −$0.98 |
| Diluted shares | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.03B | 0.05B |
| Cash flow | ||||||||||
| Cash from operations | $67.4M | $105M | $154M | $110M | $252M | $226M | $142M | $74.2M | $233M | $342M |
| Capital expenditure | $37.1M | $37.9M | $39.8M | $37.9M | $34.3M | $51.7M | $84.6M | $55.1M | $37.9M | $104M |
| Free cash flow | $30.3M | $66.7M | $114M | $72.3M | $218M | $174M | $57.7M | $19.1M | $195M | $238M |
| Depreciation and amortization | $38.5M | $51.7M | $57.7M | $65.6M | $71.8M | $76.8M | $81.1M | $91.3M | $89.4M | $266M |
| Stock-based compensation | $9.9M | $9.0M | $9.7M | $9.4M | $1.9M | $5.5M | $8.9M | $11.4M | $14.7M | $23.2M |
| Acquisitions | $232M | $104M | $57.5M | $366M | $4.5M | $225M | $330M | $0.1M | $0.0M | $1.7B |
| Share buybacks | $4.3M | $5.0M | $20.0M | $0.0M | $0.0M | $0.0M | $7.7M | $5.1M | $0.0M | $0.0M |
| Dividends paid | $11.8M | $12.7M | $13.1M | $12.7M | $12.8M | $12.8M | $13.1M | $12.8M | $13.1M | $20.9M |
| Dividends and buybacks | $16.1M | $17.7M | $33.1M | $12.7M | $12.8M | $12.8M | $20.8M | $17.9M | $13.1M | $20.9M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $33.2M | $34.0M | $43.0M | $39.5M | $47.5M | $78.8M | $71.7M | $483M | $1.2B | $168M |
| Total debt | $497M | $376M | $388M | $699M | $525M | $674M | $978M | $646M | $1.3B | $1.9B |
| Finance lease liabilities | — | — | — | — | — | — | $1.5M | $2.3M | $2.4M | $10.2M |
| Current assets | $485M | $589M | $619M | $708M | $616M | $719M | $927M | $1.1B | $1.9B | $1.6B |
| Current liabilities | $393M | $441M | $485M | $475M | $458M | $550M | $624M | $484M | $536M | $1.6B |
| Inventory | $140M | $190M | $206M | $245M | $197M | $229M | $264M | $239M | $233M | $644M |
| Property and equipment, net | $210M | $233M | $240M | $266M | $268M | $268M | $245M | $248M | $234M | $793M |
| Goodwill | $240M | $302M | $321M | $529M | $544M | $647M | $770M | $780M | $769M | $3.4B |
| Intangible assets | $186M | $217M | $214M | $326M | $299M | $343M | $430M | $389M | $341M | $2.1B |
| Total assets | $1.2B | $1.4B | $1.4B | $1.9B | $1.8B | $2.1B | $2.6B | $2.7B | $3.4B | $8.2B |
| Total liabilities | $1.0B | $950M | $986M | $1.3B | $1.1B | $1.4B | $1.7B | $1.2B | $1.9B | $3.7B |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $180M | $442M | $457M | $570M | $672M | $787M | $905M | $1.5B | $1.5B | $4.5B |
| Margins | ||||||||||
| Gross margin | 11.7% | 11.6% | 12.2% | 13.5% | 12.9% | 11.8% | 16.0% | 35.2% | 36.5% | 35.1% |
| Operating margin | 7.5% | 8.8% | 7.5% | 9.7% | 9.4% | 6.7% | 8.3% | 9.9% | 6.9% | 5.0% |
| EBITDA margin | 10.3% | 12.0% | 10.5% | 13.0% | 13.6% | 10.8% | 13.4% | 15.4% | 12.1% | 12.0% |
| Net margin | 5.0% | 4.9% | 5.4% | 6.6% | 6.3% | 6.4% | 8.6% | 35.0% | 5.0% | −1.3% |
| FCF margin | 2.2% | 4.1% | 5.9% | 3.7% | 12.6% | 9.3% | 3.6% | 1.1% | 11.3% | 6.3% |
| Returns | ||||||||||
| Return on capital | 11.3% | 11.9% | 14.5% | 11.9% | 10.6% | 7.0% | 6.3% | 8.4% | 6.7% | 2.4% |
| Return on capital employed | 12.7% | 15.1% | 15.0% | 13.1% | 12.1% | 7.9% | 6.6% | 7.4% | 4.1% | 2.9% |
| Return on equity | 37.6% | 25.9% | 23.2% | 25.1% | 17.5% | 16.3% | 16.2% | 48.7% | 5.6% | −1.7% |
| Return on assets | 5.7% | 6.2% | 7.3% | 7.7% | 5.8% | 6.0% | 5.7% | 21.8% | 2.8% | −0.9% |
| Return on tangible equity | — | — | — | — | — | — | — | 181.8% | 19.7% | — |
| Growth | ||||||||||
| Revenue growth | — | 21.1% | 17.4% | 1.4% | −11.2% | 8.1% | −14.9% | 4.7% | 3.1% | 121.3% |
| Net income growth | — | 19.1% | 29.3% | 23.9% | −15.7% | 9.5% | 15.4% | 324.0% | −85.3% | −159.1% |
| EPS growth | — | 11.5% | 27.7% | 24.5% | −15.7% | 9.4% | 15.4% | 323.6% | −85.4% | −137.0% |
| FCF growth | — | 120.1% | 71.1% | −36.6% | 201.1% | −20.1% | −66.8% | −66.9% | 919.4% | 22.3% |
| Share count change | — | 7.0% | 0.9% | −0.6% | 0.3% | 0.0% | 0.0% | 0.0% | 0.3% | 61.5% |
| Financial health | ||||||||||
| Net debt / EBITDA | 3.3x | 1.7x | 1.7x | 2.6x | 2.0x | 2.9x | 4.2x | 0.6x | 0.1x | 3.8x |
| Debt / equity | 2.8x | 0.9x | 0.8x | 1.2x | 0.8x | 0.9x | 1.1x | 0.4x | 0.8x | 0.4x |
| Interest coverage | 10.7x | 10.6x | 10.3x | 10.0x | 11.7x | 11.2x | 8.1x | 6.8x | 6.1x | 1.7x |
| Current ratio | 1.2x | 1.3x | 1.3x | 1.5x | 1.3x | 1.3x | 1.5x | 2.3x | 3.5x | 1.0x |
| Quick ratio | 0.9x | 0.9x | 0.8x | 1.0x | 0.9x | 0.9x | 1.1x | 1.8x | 3.0x | 0.6x |
| Capital allocation | ||||||||||
| Capex / revenue | 2.7% | 2.3% | 2.1% | 1.9% | 2.0% | 2.8% | 5.3% | 3.3% | 2.2% | 2.7% |
| Stock comp / revenue | 0.7% | 0.6% | 0.5% | 0.5% | 0.1% | 0.3% | 0.6% | 0.7% | 0.9% | 0.6% |
| Payouts / FCF | 53.1% | 26.5% | 29.0% | 17.6% | 5.9% | 7.4% | 36.0% | 93.7% | 6.7% | 8.8% |
| Quality scores | ||||||||||
| Piotroski F-score | — | 7.0 | 7.0 | 5.0 | 4.0 | 4.0 | 6.0 | 8.0 | 5.0 | 3.0 |
| Altman Z'' | 2.0 | 2.7 | 2.7 | 2.8 | 2.9 | 2.6 | 2.7 | 4.9 | 5.1 | 2.0 |
| Accruals ratio | 0.0% | −1.9% | −3.5% | 1.1% | −7.7% | −5.4% | −0.2% | 19.0% | −4.8% | −6.8% |
Source: SEC EDGAR XBRL filings (CIK 0001433660). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.