FMC vs Mosaic
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The short version
- Mosaic is the larger business, with $12.1B of revenue in fiscal 2025 against $3.5B for FMC, about 3.5 times as much.
- Mosaic grew revenue faster (8.4%, against −18.3%).
- Mosaic kept more of each dollar of sales as operating profit (6.8% operating margin, against −47.0%).
- FMC turned more of its sales into free cash flow (−3.0% FCF margin, against −4.4%).
- Mosaic earned a higher return on the capital invested in it (2.5%, against −19.6%).
| Latest fiscal year | FMC · FY25 | MOS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $633M | $5.7B |
| Revenue | $3.5B | $12.1B |
| Free cash flow | −$103M | −$535M |
| Net income | −$2.2B | $541M |
| Growth | ||
| Revenue growth | −18.3% | 8.4% |
| 5-year growth | −5.7% | 6.8% |
| Share count change | −0.2% | −0.6% |
| Profitability | ||
| Gross margin | 37.0% | 15.8% |
| Operating margin | −47.0% | 6.8% |
| Net margin | −64.6% | 4.5% |
| FCF margin | −3.0% | −4.4% |
| Return on capital | −19.6% | 2.5% |
| Return on equity | −68.3% | 4.6% |
| Balance sheet | ||
| Net debt | $3.5B | $4.8B |
| Net debt / EBITDA | — | 2.6x |
| Dividends and buybacks | $291M | $280M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 2 | 8 |
Revenue
FY16
FMC $2.5B
MOS $7.2B
FY17
FMC $2.9B
MOS $7.4B
FY18
FMC $4.7B
MOS $9.6B
FY19
FMC $4.6B
MOS $8.9B
FY20
FMC $4.6B
MOS $8.7B
FY21
FMC $5.0B
MOS $12.4B
FY22
FMC $5.8B
MOS $19.1B
FY23
FMC $4.5B
MOS $13.7B
FY24
FMC $4.2B
MOS $11.1B
FY25
FMC $3.5B
MOS $12.1B
FMC
MOS
Operating margin
FY16
FMC 10.5%
MOS 4.5%
FY17
FMC 5.5%
MOS 6.3%
FY18
FMC 15.7%
MOS 9.7%
FY19
FMC 17.8%
MOS −12.3%
FY20
FMC 19.3%
MOS 4.8%
FY21
FMC 20.5%
MOS 20.0%
FY22
FMC 19.7%
MOS 25.0%
FY23
FMC 12.4%
MOS 9.8%
FY24
FMC 11.9%
MOS 5.6%
FY25
FMC −47.0%
MOS 6.8%
FMC
MOS
Free cash flow
FY16
FMC $278M
MOS $417M
FY17
FMC $194M
MOS $115M
FY18
FMC $280M
MOS $455M
FY19
FMC $462M
MOS −$177M
FY20
FMC $670M
MOS $412M
FY21
FMC $799M
MOS $898M
FY22
FMC $518M
MOS $2.7B
FY23
FMC −$434M
MOS $1.0B
FY24
FMC $669M
MOS $47.4M
FY25
FMC −$103M
MOS −$535M
FMC
MOS
Return on capital
FY16
FMC 4.9%
MOS 2.6%
FY17
FMC 1.7%
MOS 1.8%
FY18
FMC 11.5%
MOS 5.9%
FY19
FMC 12.0%
MOS −6.2%
FY20
FMC 12.5%
MOS 3.0%
FY21
FMC 16.0%
MOS 12.9%
FY22
FMC 16.4%
MOS 24.0%
FY23
FMC 7.8%
MOS 7.5%
FY24
FMC 6.5%
MOS 2.0%
FY25
FMC −19.6%
MOS 2.5%
FMC
MOS
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.