Corteva vs FMC
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The short version
- Corteva is the larger business, with $17.4B of revenue in fiscal 2025 against $3.5B for FMC, about 5.0 times as much.
- Corteva grew revenue faster (2.9%, against β18.3%).
- Corteva turned more of its sales into free cash flow (16.2% FCF margin, against β3.0%).
- Corteva earned a higher return on the capital invested in it (5.8%, against β19.6%).
| Latest fiscal year | CTVA Β· FY25 | FMC Β· FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.3B | $633M |
| Revenue | $17.4B | $3.5B |
| Free cash flow | $2.8B | β$103M |
| Net income | $1.1B | β$2.2B |
| Growth | ||
| Revenue growth | 2.9% | β18.3% |
| 5-year growth | 4.1% | β5.7% |
| Share count change | β2.1% | β0.2% |
| Profitability | ||
| Gross margin | 47.3% | 37.0% |
| Operating margin | β | β47.0% |
| Net margin | 6.3% | β64.6% |
| FCF margin | 16.2% | β3.0% |
| Return on capital | 5.8% | β19.6% |
| Return on equity | 4.6% | β68.3% |
| Balance sheet | ||
| Net debt | β$2.0B | $3.5B |
| Net debt / EBITDA | β0.6x | β |
| Dividends and buybacks | $1.5B | $291M |
| Valuation & quality | ||
| P/E | 8.2x | β |
| Piotroski F-score | 8 | 2 |
Revenue
FY16
CTVA β
FMC $2.5B
FY17
CTVA β
FMC $2.9B
FY18
CTVA $14.3B
FMC $4.7B
FY19
CTVA $13.8B
FMC $4.6B
FY20
CTVA $14.2B
FMC $4.6B
FY21
CTVA $15.7B
FMC $5.0B
FY22
CTVA $17.5B
FMC $5.8B
FY23
CTVA $17.2B
FMC $4.5B
FY24
CTVA $16.9B
FMC $4.2B
FY25
CTVA $17.4B
FMC $3.5B
CTVA
FMC
Operating margin
FY16
CTVA β
FMC 10.5%
FY17
CTVA β
FMC 5.5%
FY18
CTVA β
FMC 15.7%
FY19
CTVA β
FMC 17.8%
FY20
CTVA β
FMC 19.3%
FY21
CTVA β
FMC 20.5%
FY22
CTVA β
FMC 19.7%
FY23
CTVA β
FMC 12.4%
FY24
CTVA β
FMC 11.9%
FY25
CTVA β
FMC β47.0%
CTVA
FMC
Free cash flow
FY16
CTVA β
FMC $278M
FY17
CTVA β
FMC $194M
FY18
CTVA β$1.0B
FMC $280M
FY19
CTVA β$93.0M
FMC $462M
FY20
CTVA $1.6B
FMC $670M
FY21
CTVA $2.2B
FMC $799M
FY22
CTVA $267M
FMC $518M
FY23
CTVA $1.2B
FMC β$434M
FY24
CTVA $1.5B
FMC $669M
FY25
CTVA $2.8B
FMC β$103M
CTVA
FMC
Return on capital
FY16
CTVA β
FMC 4.9%
FY17
CTVA β
FMC 1.7%
FY18
CTVA β
FMC 11.5%
FY19
CTVA β0.3%
FMC 12.0%
FY20
CTVA 3.2%
FMC 12.5%
FY21
CTVA 8.3%
FMC 16.0%
FY22
CTVA 5.6%
FMC 16.4%
FY23
CTVA 4.7%
FMC 7.8%
FY24
CTVA 4.2%
FMC 6.5%
FY25
CTVA 5.8%
FMC β19.6%
CTVA
FMC
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.