Seaboard Corp. /DE/ (SEB) intrinsic value & 10-year financials
Seaboard Corp. /DE/ (SEB) has a Graham intrinsic value of $4,642.65 per share. At $3,922.63 on Oct 17, 2026, the stock trades 16% below that value. Over the last 10 fiscal years revenue grew 6.8% a year to $9.7B, with an average return on invested capital of 4.5%.
- Graham intrinsic value
- $4,642.65
- Share price (Oct 17, 2026)
- $3,922.63
- Price vs Graham value
- 16% below
- Market cap
- $3.8B
- Revenue (FY2025)
- $9.7B
- Revenue growth (10-yr CAGR)
- 6.8%
- ROIC (10-yr avg)
- 4.5%
- Free cash flow (FY2025)
- $6.0M
SEB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $9.7B | $501.0M | $514.46 | $6.0M | 2.5% | 3.9% |
| FY2024 | $9.1B | $90.0M | $90.62 | $8.0M | 1.7% | 1.3% |
| FY2023 | $9.6B | $227.0M | $202.21 | $204.0M | -0.9% | -1.5% |
| FY2022 | $11.2B | $582.0M | $499.66 | $202.0M | 5.8% | 11.4% |
| FY2021 | $9.2B | $571.0M | — | -$368.0M | 5.0% | 7.9% |
| FY2020 | $7.1B | $283.0M | — | $32.0M | 3.4% | 5.1% |
| FY2019 | $6.8B | $283.0M | — | -$178.0M | 1.5% | 2.4% |
| FY2018 | $6.6B | -$17.0M | — | $76.0M | 3.2% | 5.5% |
| FY2017 | $5.8B | $246.0M | — | $72.0M | 4.0% | 3.6% |
| FY2016 | $5.4B | $314.0M | — | $269.0M | 4.1% | 5.1% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
SEABOARD CORP /DE/ has demonstrated mature, steady growth, with revenue compounding at 6.8% annually over the past decade.
SEABOARD CORP /DE/ has historically struggled to out-earn its cost of capital, averaging just 4.5% ROIC.
Over the decade, SEABOARD CORP /DE/ shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, SEABOARD CORP /DE/ is modeled at 1.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $4642.65 per share.