Do we like them?

Do we like JBS?

World's largest meat processor (beef, pork, chicken, Seara, Pilgrim's), based in Brazil, with a NYSE listing since 2025.

Our score: 3 out of 10. We wouldn't back them. They are huge and efficient, but they keep facing fines and lawsuits over Amazon cattle sourcing, and the good they do is mostly jobs and food supply.

JBS is the world's biggest meat company, run from Brazil. It listed on the New York Stock Exchange in June 2025, alongside its listing in Brazil. Gilberto Tomazoni is quoted in its release as Global CEO, and he called the listing a major milestone.

The big recurring drama is Amazon cattle. Brazil's environment agency Ibama ran a crackdown called Cold Meat, and JBS was among the meatpackers fined for buying cattle from land embargoed for illegal deforestation. JBS says it has strict sourcing controls and that one rancher gave false coordinates.

In Rondônia state, an environmental office annulled a roughly $388,000 fine against JBS in September 2025. The reported reason was that the 2017 purchases predated a 2022 law change. Reports say JBS still faces five lawsuits and has been fined 11 times over cattle from the Jaci-Paraná reserve.

Separately, JBS struck a deal with Brazilian prosecutors that ended a civil action over slavery and deforestation. The report says it removed the chance of a fine that could have reached about BRL 2bn (US$2.3bn). Our verdict is a low score, because sourcing problems keep coming up.