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Meat Packing Plants: capital spending and supply chain

SIC 2011 · 2 companies with filed cash-flow statements

Capital spending, 12 months$2.9B
Operating cash flow$3.6B
Capex / cash flow80%
Capex / revenue10.6%
Top 3 share100%

Analysis

2 companies in Meat Packing Plants (SIC 2011) spent $2.9B on capital projects over their latest twelve months, 80% of the $3.6B their operations generated.

Capital spending is 10.6% of the industry's $27.3B of annual revenue.

By the industry's asset mix most of it goes to equipment (49%); about $129M is imported.

The largest supplier of that spending is manufacturing structures ($192M).

Its largest supplying industries, by the input-output tables: beef cattle ranching and farming, including feedlots and dual-purpose ranching and farming ($8.9B), animal (except poultry) slaughtering, rendering, and processing ($3.8B), animal production, except cattle and poultry and eggs ($3.2B).

Charts

Meat Packing Plants: capital spending by company, latest twelve monthsMeat Packing Plants: capital spending by company, latest twelve monthsJBS$2.6BHRL$311M
Filed cash-flow statements (SEC XBRL).
Meat Packing Plants: what the capital spending buys (US part)Meat Packing Plants: what the capital spending buys (US part)Structures$198MEquipment$272MSoftware$48.5MOther$39.1M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Meat Packing Plants: the industries that build and sell what it buysMeat Packing Plants: the industries that build and sell what it buysManufacturing structures$192MOther industrial machinery manufa…$43.3MMaterial handling equipment manuf…$42.0MAir conditioning, refrigeration, …$38.9MOther general purpose machinery m…$29.9MSoftware publishers$26.7MMeasuring, dispensing, and other …$24.5MAir and gas compressor manufactur…$22.9MPlate work and fabricated structu…$12.2MSemiconductor machinery manufactu…$11.7M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Meat Packing Plants: its first-tier supplying industriesMeat Packing Plants: its first-tier supplying industriesBeef cattle ranching and farming,…$8.9BAnimal (except poultry) slaughter…$3.8BAnimal production, except cattle …$3.2BTruck transportation$1.4BImports$1.1BOther nondurable goods merchant w…$737MGrocery and related product whole…$464MManagement of companies and enter…$352MPoultry processing$276MOther animal food manufacturing$200M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Meat Packing Plants: where the industry's cash came from (+) and went (−)Meat Packing Plants: where the industry's cash came from (+) and went (−)Operating cash flow$2.2BDividends−$1.0BCash added to the balance she…−$842MCapital spending−$652MShares issued$236MSales of assets & businesses$114MOther investing (in)$22.8MExchange-rate gains on cash$16.7MOther financing (out)−$11.8MPartners' money in$5.1MNet debt repaid−$3.0M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
JBS JBS N.V.$2.6B$2.5B103%TTM to Q3 2026
HRL Hormel Foods$311M$1.1B28%TTM to Q3 FY26

Customers and suppliers named in annual reports

SupplierCustomerShare of supplier revenueEvidenceSource
SFDWMT15%Stated in 10-K (sentence)filing
HRLWMT16%Stated in 10-K (sentence)filing
NATHSFD21%Stated in 10-K (sentence)filing
SFDNATH—Stated in 10-K (named, share not stated)filing

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.