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FMC

FMC NYSE Fertilizers & Agricultural Chemicals Financials FY2016–FY2025

FMC's revenue fell 18.3% to $3.5 billion in fiscal 2025. Its operating margin was −47.0%, down from 11.9% a year earlier. Free cash flow was −$102 million, against $669 million a year earlier. It paid out $291 million in dividends and buybacks. The diluted share count fell 0.2%.

Last close · Oct 23, 2026

$5.05

0.6%
Value it Compare
Revenue Total sales reported in the income statement.
$3.5B
18.3% vs prior year
Operating margin Operating income as a share of revenue.
−47.0%
58.9 pts
Net income Profit after all expenses, interest and tax.
−$2.2B
756.4%
Free cash flow Cash from operations minus capital spending.
−$103M
115.3%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−19.6%
26.1 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$633M
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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About these figures. FMC's 2025 loss, after large write-downs, made its EBITDA negative, so net debt to EBITDA is blank that year.

What FMC does

No business description yet.

Legal name
FMC CORPORATION
Fiscal year ends
December 31, 2025
Latest annual report
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Accession · CIK
0000037785-26-000041
0000037785

Revenue and margins

FMC had $3.5B of revenue in fiscal 2025, down 18.3% 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

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 −$103M in fiscal 2025, −3.0% 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

FMC returned $291M to shareholders in fiscal 2025. The diluted share count fell 0.2%.

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

Value FMC 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

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Adds net cash of −$3.5B and divides by 125.2M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

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

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $517M$572M$302M$357M$585M
Debt incl. finance leases $3.2B$3.3B$4.0B$3.4B$4.1B
Net debt / EBITDA 2.2x2.1x4.9x4.4x—
Debt / equity 1.0x1.0x0.9x0.8x2.0x
Interest coverage 7.9x7.5x2.3x2.2x−6.8x
Current ratio 1.4x1.4x1.5x1.6x1.3x
Quick ratio 1.0x1.0x1.0x1.2x1.0x
Total assets $10.7B$11.2B$11.9B$11.7B$9.7B
Total liabilities $7.5B$7.8B$7.5B$7.1B$7.6B
Shareholders' equity $3.1B$3.4B$4.4B$4.5B$2.1B
Net debt (− = net cash) $2.7B$2.7B$3.7B$3.0B$3.5B

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

$0.5M

3 insiders

Sold, 12 months

$0.0M

1 insider

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Sep 9, 2026 Nicholas PfeifferCorporate Controller Sold 1,251 $12.78 $0.0M Form 4
Mar 4, 2026 Michael F BarryDirector Bought 18,072 $13.83 $0.2M Form 4
Nov 13, 2025 John Mitchell RainesDirector Bought 7,000 $13.77 $0.1M Form 4
Nov 5, 2025 Carol Anthony DavidsonDirector Bought 10,000 $13.60 $0.1M 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 5 / 96 / 92 / 9
Accruals ratio 14.0%−3.4%−20.9%
Altman Z'' 3.693.901.38

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
FMC FMC $633M −18.3% −47.0% −3.0% −19.6% — 2
Scotts Miracle-Gro SMG $3.5B −3.9% 10.5% 8.0% 13.4% 50.3x 6 Compare →
CF Industries CF $18.6B 19.3% 32.5% 25.4% 20.6% 9.0x 8 Compare →
Mosaic MOS $5.7B 8.4% 6.8% −4.4% 2.5% — 8 Compare →
Corteva CTVA $8.3B 2.9% — 16.2% 5.8% 8.2x 8 Compare →

10 years of figures

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

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.5B $2.9B $4.7B $4.6B $4.6B $5.0B $5.8B $4.5B $4.2B $3.5B
Gross profit $931M $952M $1.9B $2.1B $2.0B $2.2B $2.3B $1.8B $1.6B $1.3B
Research and development $135M $138M $288M $298M $288M $305M $314M $329M $278M $266M
Operating income $267M $159M $741M $822M $897M $1.0B $1.1B $556M $507M −$1.6B
Interest expense $63.5M $80.0M $135M $160M $151M $131M $152M $237M $236M $240M
Pretax income $181M $95.8M $608M $655M $731M $898M $984M $300M $253M −$1.9B
Income tax $50.1M $229M $70.8M $112M $151M $92.5M $145M −$1.1B −$151M $314M
Net income $209M $536M $502M $477M $552M $740M $737M $1.3B $341M −$2.2B
Diluted EPS $1.56 $3.99 $3.69 $3.62 $4.23 $5.73 $5.81 $10.53 $2.72 −$17.88
Diluted shares 0.13B 0.13B 0.14B 0.13B 0.13B 0.13B 0.13B 0.13B 0.13B 0.13B
Cash flow
Cash from operations $369M $232M $363M $556M $737M $899M $660M −$300M $737M −$6.2M
Capital expenditure $91.2M $38.3M $83.0M $93.9M $67.2M $100M $142M $134M $67.9M $96.3M
Free cash flow $278M $194M $280M $462M $670M $799M $518M −$434M $669M −$103M
Depreciation and amortization $101M $97.8M $150M $150M $163M $171M $169M $184M $176M $174M
Stock-based compensation $20.2M $21.1M $22.5M $25.6M $18.9M $17.8M $24.2M $25.9M $23.8M $24.0M
Acquisitions $0.0M $1.2B $19.6M $0.0M $65.6M $5.2M $198M $16.5M $4.8M $0.0M
Share buybacks $11.2M $0.0M $200M $400M $50.0M $400M $100M $75.0M $0.0M $0.0M
Dividends paid $88.6M $88.8M $89.2M $210M $229M $247M $268M $291M $291M $291M
Dividends and buybacks $99.8M $88.8M $289M $610M $279M $647M $368M $366M $291M $291M
Balance sheet
Cash and short-term investments $64.2M $283M $134M $339M $569M $517M $572M $302M $357M $585M
Total debt $1.9B $3.2B $2.7B $3.3B $3.3B $3.2B $3.3B $4.0B $3.4B $4.1B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $2.8B $3.7B $4.0B $4.1B $4.4B $5.1B $5.4B $5.1B $5.0B $5.0B
Current liabilities $1.4B $2.2B $3.0B $2.7B $2.8B $3.5B $3.8B $3.4B $3.0B $3.8B
Inventory $479M $993M $1.0B $1.0B $1.1B $1.5B $1.7B $1.7B $1.2B $1.2B
Property and equipment, net $538M $1.0B $757M $758M $772M $817M $850M $893M $850M $707M
Total assets $6.1B $9.2B $10.0B $9.9B $10.2B $10.7B $11.2B $11.9B $11.7B $9.7B
Total liabilities $4.1B $6.5B $6.8B $7.2B $7.1B $7.5B $7.8B $7.5B $7.1B $7.6B
Shareholders' equity $2.0B $2.7B $3.1B $2.5B $3.0B $3.1B $3.4B $4.4B $4.5B $2.1B
Margins
Gross margin 36.7% 33.1% 39.8% 45.2% 44.1% 42.8% 40.1% 40.8% 38.8% 37.0%
Operating margin 10.5% 5.5% 15.7% 17.8% 19.3% 20.5% 19.7% 12.4% 11.9% −47.0%
EBITDA margin 14.5% 8.9% 18.9% 21.1% 22.8% 23.9% 22.6% 16.5% 16.1% −42.0%
Net margin 8.2% 18.6% 10.6% 10.4% 11.9% 14.7% 12.7% 29.5% 8.0% −64.6%
FCF margin 10.9% 6.7% 5.9% 10.0% 14.4% 15.8% 8.9% −9.7% 15.8% −3.0%
Returns
Return on capital 4.9% 1.7% 11.5% 12.0% 12.5% 16.0% 16.4% 7.8% 6.5% −19.6%
Return on capital employed 5.6% 2.7% 10.6% 11.6% 12.4% 14.3% 15.8% 7.0% 5.9% −22.4%
Return on equity 10.9% 23.1% 17.3% 16.9% 20.1% 24.3% 22.7% 33.9% 7.7% −68.3%
Return on assets 3.4% 7.0% 5.2% 4.8% 5.5% 7.1% 6.7% 11.4% 2.9% −21.0%
Growth
Revenue growth 1.9% 13.4% 64.2% −2.5% 0.7% 8.7% 15.0% −22.7% −5.4% −18.3%
Net income growth −57.2% 156.2% −6.3% −4.9% 15.7% 33.9% −0.4% 79.4% −74.2% −756.4%
EPS growth −57.4% 155.8% −7.5% −1.9% 16.9% 35.5% 1.4% 81.2% −74.2% −757.4%
FCF growth — −30.3% 44.4% 65.1% 45.0% 19.3% −35.2% −183.9% — −115.3%
Share count change 0.6% −0.2% 1.2% −2.9% −1.1% −1.1% −1.9% −0.9% −0.1% −0.2%
Financial health
Net debt / EBITDA 5.0x 11.3x 2.9x 3.0x 2.6x 2.2x 2.1x 4.9x 4.4x —
Debt / equity 1.0x 1.2x 0.9x 1.3x 1.1x 1.0x 1.0x 0.9x 0.8x 2.0x
Interest coverage 4.2x 2.0x 5.5x 5.1x 5.9x 7.9x 7.5x 2.3x 2.2x −6.8x
Current ratio 2.0x 1.7x 1.4x 1.5x 1.6x 1.4x 1.4x 1.5x 1.6x 1.3x
Quick ratio 1.7x 1.2x 1.0x 1.1x 1.2x 1.0x 1.0x 1.0x 1.2x 1.0x
Capital allocation
Capex / revenue 3.6% 1.3% 1.8% 2.0% 1.5% 2.0% 2.5% 3.0% 1.6% 2.8%
Stock comp / revenue 0.8% 0.7% 0.5% 0.6% 0.4% 0.4% 0.4% 0.6% 0.6% 0.7%
Payouts / FCF 35.9% 45.8% 103.4% 132.2% 41.6% 81.1% 71.0% — 43.5% —
Quality scores
Piotroski F-score 5.0 5.0 5.0 6.0 8.0 7.0 5.0 5.0 6.0 2.0
Altman Z'' 4.2 3.0 3.1 3.2 3.5 3.6 3.7 3.7 3.9 1.4
Accruals ratio −2.6% 4.0% 1.5% −0.8% −1.8% −1.5% 0.7% 14.0% −3.4% −20.9%

Source: SEC EDGAR XBRL filings (CIK 0000037785). Data updated October 12, 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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