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Balchem

BCPC Nasdaq Specialty Chemicals Financials FY2016–FY2025

Balchem's revenue rose 8.8% to $1.0 billion in fiscal 2025. Its operating margin was 20.2%, up from 19.2% a year earlier. Free cash flow was $173 million, up 18.3%. It paid out $136 million in dividends and buybacks, 79% of free cash flow. The diluted share count fell 0.3%.

Last close · Oct 23, 2026

$177.00

2.2%
Value it Compare
Revenue Total sales reported in the income statement.
$1.0B
8.8% vs prior year
Operating margin Operating income as a share of revenue.
20.2%
1.0 pts
Net income Profit after all expenses, interest and tax.
$155M
20.5%
Free cash flow Cash from operations minus capital spending.
$173M
18.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$5.7B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
33.3x
On $5.31 EPS (TTM)

What Balchem does

No business description yet.

Legal name
Balchem Corporation
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000009326-26-000007
0000009326

Revenue and margins

Balchem had $1.0B of revenue in fiscal 2025, up 8.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 11.7% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $173M in fiscal 2025, 16.7% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Balchem returned $136M to shareholders in fiscal 2025, 79% of free cash flow. The diluted share count fell 0.4%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Balchem yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 32.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 33.3x · peers 31.8x · sector 20.1x.

Balance sheet

Cash, debt and the ratios that show how comfortably Balchem can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $103M$66.6M$64.4M$49.5M$74.6M
Interest coverage 28.0x12.2x6.1x10.3x19.7x
Current ratio 2.2x2.4x2.1x2.0x2.1x
Quick ratio 1.6x1.5x1.4x1.2x1.3x
Total assets $1.2B$1.6B$1.6B$1.6B$1.7B
Total liabilities $322M$686M$543M$426M$429M
Shareholders' equity $877M$938M$1.1B$1.1B$1.3B
Net debt (− = net cash) —————

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

$2.3M

3 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Dec 4, 2025 Gunsteren Job Leonard vanSVP and GM, Specialty Products Sold 6,000 $153.28 $0.9M Form 4
Dec 3, 2025 David B FischerDirector Sold 8,000 $153.97 $1.2M Form 4
Nov 11, 2025 Martin Luther ReidSVP Chief Supply Chain Officer Sold 1,200 $154.44 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
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 — / 9— / 9— / 9
Accruals ratio −4.7%−3.4%−3.8%
Altman Z'' 5.226.336.82

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Balchem BCPC $5.7B 8.8% 20.2% 16.7% — 33.3x —
Ingevity NGVT $2.5B −2.7% 35.9% 23.4% 24.6% 46.4x 6 Compare →
Sensient Technologies SXT $5.7B 3.5% 12.9% 2.4% 8.9% 35.8x 6 Compare →
Innospec IOSP $2.4B −3.7% 7.3% 5.0% 11.1% 20.1x 6 Compare →
Quaker Chemical KWR $2.7B 2.7% 2.8% 4.3% 1.3% 27.8x 5 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $553M $595M $644M $644M $704M $799M $942M $922M $954M $1.0B
Gross profit $181M $189M $204M $211M $224M $243M $281M $302M $336M $371M
Research and development $7.3M $9.3M $11.6M $11.4M $10.3M $13.5M $12.2M $15.0M $16.8M $18.5M
Operating income $90.8M $96.9M $107M $103M $111M $128M $145M $159M $183M $209M
Interest expense $7.3M $7.5M $6.9M $5.7M $4.7M $4.5M $11.9M $25.9M $17.7M $10.6M
Pretax income $82.9M $88.5M $99.0M $96.5M $106M $125M $134M $137M $167M $199M
Income tax $27.0M −$1.6M $20.5M $16.8M $21.8M $29.1M $28.4M $28.7M $38.0M $44.2M
Net income $56.0M $90.1M $78.6M $79.7M $84.6M $96.1M $105M $109M $129M $155M
Diluted EPS $1.75 $2.79 $2.42 $2.45 $2.60 $2.94 $3.25 $3.35 $3.93 $4.75
Diluted shares 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B 0.03B
Cash flow
Cash from operations $108M $111M $119M $125M $151M $161M $139M $184M $182M $217M
Capital expenditure $23.0M $27.5M $19.2M $25.8M $32.1M $36.1M $49.1M $37.9M $35.7M $43.5M
Free cash flow $84.6M $83.1M $99.5M $98.7M $118M $124M $89.5M $146M $146M $173M
Depreciation and amortization $46.2M $44.4M $44.7M $45.9M $51.3M $48.9M $51.8M $54.9M $48.0M $45.7M
Stock-based compensation $7.0M $6.3M $6.4M $7.6M $8.3M $10.8M $13.2M $16.1M $16.7M $18.1M
Acquisitions $111M $17.4M $17.4M $141M $0.0M $0.0M $366M $1.3M $24.2M $0.3M
Share buybacks $1.6M $1.9M $1.4M $21.3M $13.5M $35.2M $35.4M $4.5M $5.7M $108M
Dividends paid $10.7M $12.1M $13.4M $15.1M $16.7M $18.7M $20.7M $22.9M $25.6M $28.3M
Dividends and buybacks $12.3M $14.0M $14.8M $36.5M $30.2M $54.0M $56.1M $27.3M $31.3M $136M
Balance sheet
Cash and short-term investments $38.6M $40.4M $54.3M $65.7M $84.6M $103M $66.6M $64.4M $49.5M $74.6M
Total debt $262M $35.0M $156M — — — — — — —
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $2.6M $2.5M $2.4M $2.2M $1.9M $1.7M
Current assets $188M $199M $226M $255M $267M $322M $336M $314M $314M $366M
Current liabilities $101M $108M $82.1M $92.3M $94.4M $144M $140M $149M $158M $176M
Inventory $57.2M $60.7M $67.2M $83.9M $70.6M $91.1M $120M $110M $131M $131M
Property and equipment, net $166M $190M $191M $217M $228M $238M $271M $276M $282M $307M
Total assets $949M $964M $981M $1.2B $1.2B $1.2B $1.6B $1.6B $1.6B $1.7B
Total liabilities $428M $347M $290M $412M $338M $322M $686M $543M $426M $429M
Shareholders' equity $521M $617M $692M $744M $828M $877M $938M $1.1B $1.1B $1.3B
Margins
Gross margin 32.7% 31.8% 31.7% 32.8% 31.8% 30.4% 29.8% 32.8% 35.3% 35.7%
Operating margin 16.4% 16.3% 16.6% 15.9% 15.8% 16.0% 15.4% 17.3% 19.2% 20.2%
EBITDA margin 24.8% 23.8% 23.6% 23.1% 23.1% 22.1% 20.9% 23.2% 24.2% 24.6%
Net margin 10.1% 15.1% 12.2% 12.4% 12.0% 12.0% 11.2% 11.8% 13.5% 14.9%
FCF margin 15.3% 14.0% 15.5% 15.3% 16.8% 15.6% 9.5% 15.8% 15.3% 16.7%
Returns
Return on capital 8.9% 14.3% 12.1% — — — — — — —
Return on capital employed 11.0% 11.4% 12.2% 10.5% 10.4% 12.0% 11.4% 10.9% 12.8% 14.3%
Return on equity 11.4% 15.8% 12.0% 11.1% 10.8% 11.3% 11.6% 10.9% 11.7% 12.9%
Return on assets 6.1% 9.4% 8.1% 7.5% 7.3% 8.1% 7.5% 6.7% 8.1% 9.5%
Growth
Revenue growth 0.1% 7.5% 8.2% 0.0% 9.3% 13.6% 17.9% −2.1% 3.4% 8.8%
Net income growth −6.3% 60.9% −12.8% 1.4% 6.2% 13.6% 9.6% 3.0% 18.4% 20.5%
EPS growth −7.4% 59.4% −13.3% 1.2% 6.1% 13.1% 10.5% 3.1% 17.3% 20.9%
FCF growth 35.3% −1.8% 19.8% −0.9% 20.0% 5.0% −28.1% 63.1% 0.3% 18.3%
Share count change 0.9% 1.0% 0.7% 0.2% −0.0% 0.5% −0.9% 0.2% 0.8% −0.4%
Financial health
Net debt / EBITDA 1.6x −0.0x 0.7x — — — — — — —
Debt / equity 0.5x 0.1x 0.2x — — — — — — —
Interest coverage 12.5x 12.9x 15.4x 18.1x 23.8x 28.0x 12.2x 6.1x 10.3x 19.7x
Current ratio 1.9x 1.8x 2.8x 2.8x 2.8x 2.2x 2.4x 2.1x 2.0x 2.1x
Quick ratio 1.3x 1.3x 1.9x 1.9x 2.1x 1.6x 1.5x 1.4x 1.2x 1.3x
Capital allocation
Capex / revenue 4.2% 4.6% 3.0% 4.0% 4.6% 4.5% 5.2% 4.1% 3.7% 4.2%
Stock comp / revenue 1.3% 1.1% 1.0% 1.2% 1.2% 1.4% 1.4% 1.7% 1.8% 1.7%
Payouts / FCF 14.6% 16.8% 14.9% 37.0% 25.5% 43.4% 62.8% 18.7% 21.4% 78.5%
Quality scores
Piotroski F-score 5.0 5.0 5.0 — — — — — — —
Altman Z'' 3.9 4.7 6.0 5.1 6.0 6.5 4.5 5.2 6.3 6.8
Accruals ratio −5.7% −2.2% −4.1% −4.2% −5.7% −5.5% −2.4% −4.7% −3.4% −3.8%

Source: SEC EDGAR XBRL filings (CIK 0000009326). Data updated October 23, 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.

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