Innospec vs Minerals Technologies
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KIRA’s take AI analyst
I put Innospec and Minerals Technologies side by side, using each one’s latest annual report. Here is what stands out:
- Minerals Technologies is the larger business, with $2.1B of revenue in fiscal 2025 against $1.8B for Innospec.
- Minerals Technologies grew revenue faster (−2.2%, against −3.7%).
- Innospec kept more of each dollar of sales as operating profit (7.3% operating margin, against 2.3%).
- Innospec turned more of its sales into free cash flow (5.0% FCF margin, against 4.2%).
- Innospec earned a higher return on the capital invested in it (11.1%, against 1.6%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Innospec
IOSP
8/10
5-year growthGross marginOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-score
Minerals Technologies
MTX
2/10
Revenue growthShare count change
Side by side
Best in the row
| Latest fiscal year | IOSP FY25 | MTX FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.4B | $1.9B |
| Revenue | $1.8B | $2.1B |
| Free cash flow | $88.0M | $86.6M |
| Net income | $117M | −$18.4M |
| Growth | ||
| Revenue growth | −3.7% | −2.2% |
| 5-year growth | 8.3% | 5.4% |
| Share count change | −0.5% | −2.8% |
| Profitability | ||
| Gross margin | 27.7% | 25.0% |
| Operating margin | 7.3% | 2.3% |
| Net margin | 6.6% | −0.9% |
| FCF margin | 5.0% | 4.2% |
| Return on capital | 11.1% | 1.6% |
| Return on equity | 9.2% | −1.1% |
| Balance sheet | ||
| Net debt | −$293M | $629M |
| Net debt / EBITDA | −1.7x | — |
| Dividends and buybacks | $66.3M | $72.7M |
| Valuation & quality | ||
| P/E | 20.1x | — |
| Piotroski F-score | 6 | 4 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.