JBS NV (JBS) is undervalued and McCormick & Co Inc (MKC) is slightly undervalued.
Against our estimates of intrinsic value, JBS trades at the wider discount: a margin of safety of +44%, against +19% for MKC.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 6.0% (average of 3 methods) values the shares at $21.43; the price of $11.90 is 44% below that value, and 87% of that value comes from beyond year five.
Leak Score 54/100 on 3 of 12 signals
Discounting its cash flows at 7.7% (average of 3 methods) values the shares at $60.69; the price of $49.42 is 19% below that value, and 80% of that value comes from beyond year five.
Leak Score 81/100 on 3 of 12 signals
| Metric | JBS | MKC |
|---|---|---|
| Verdict | Undervalued | Slightly undervalued |
| Price | $11.90 | $49.42 |
| Intrinsic value | $21.43 | $60.69 |
| Margin of safety | +44% | +19% |
| Leak Score | 54/100 (3/12) | 81/100 (3/12) |
| Market cap | $12.7B | $13.3B |
| Revenue growth, 5 years | 10.4% | 4.1% |
| Operating margin | 3.5% | 16.7% |
| Net margin | 1.2% | 21.9% |
| Return on equity | 13.4% | 25.7% |
| Debt to equity | 2.97 | 0.71 |
| P/E | 11.1x | 8.2x |
| Forward P/E | 8.7x | 15.0x |
| P/B | 1.4x | 1.9x |
| Dividend yield | 8.6% | 3.9% |