Element Solutions vs Minerals Technologies
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The short version
- Element Solutions is the larger business, with $2.6B of revenue in fiscal 2025 against $2.1B for Minerals Technologies.
- Element Solutions grew revenue faster (3.8%, against −2.2%).
- Element Solutions kept more of each dollar of sales as operating profit (13.4% operating margin, against 2.3%).
- Element Solutions turned more of its sales into free cash flow (8.9% FCF margin, against 4.2%).
- Element Solutions earned a higher return on the capital invested in it (6.5%, against 1.6%).
| Latest fiscal year | ESI · FY25 | MTX · FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.1B | $2.0B |
| Revenue | $2.6B | $2.1B |
| Free cash flow | $228M | $86.6M |
| Net income | $191M | −$18.4M |
| Growth | ||
| Revenue growth | 3.8% | −2.2% |
| 5-year growth | 6.6% | 5.4% |
| Share count change | −0.1% | −2.8% |
| Profitability | ||
| Gross margin | 42.0% | 25.0% |
| Operating margin | 13.4% | 2.3% |
| Net margin | 7.5% | −0.9% |
| FCF margin | 8.9% | 4.2% |
| Return on capital | 6.5% | 1.6% |
| Return on equity | 7.6% | −1.1% |
| Balance sheet | ||
| Net debt | $1.0B | $629M |
| Net debt / EBITDA | 2.1x | — |
| Dividends and buybacks | $103M | $72.7M |
| Valuation & quality | ||
| P/E | 39.1x | — |
| Piotroski F-score | 7 | 4 |
Revenue
FY16
ESI $1.8B
MTX $1.6B
FY17
ESI $1.9B
MTX $1.7B
FY18
ESI $2.0B
MTX $1.8B
FY19
ESI $1.8B
MTX $1.8B
FY20
ESI $1.9B
MTX $1.6B
FY21
ESI $2.4B
MTX $1.9B
FY22
ESI $2.5B
MTX $2.1B
FY23
ESI $2.3B
MTX $2.2B
FY24
ESI $2.5B
MTX $2.1B
FY25
ESI $2.6B
MTX $2.1B
ESI
MTX
Operating margin
FY16
ESI 5.1%
MTX 13.7%
FY17
ESI 10.7%
MTX 14.6%
FY18
ESI 12.7%
MTX 14.2%
FY19
ESI 13.6%
MTX 11.7%
FY20
ESI 12.6%
MTX 11.8%
FY21
ESI 12.5%
MTX 12.7%
FY22
ESI 12.8%
MTX 10.1%
FY23
ESI 7.4%
MTX 7.9%
FY24
ESI 14.0%
MTX 13.5%
FY25
ESI 13.4%
MTX 2.3%
ESI
MTX
Free cash flow
FY16
ESI $152M
MTX $163M
FY17
ESI $151M
MTX $131M
FY18
ESI −$29.2M
MTX $128M
FY19
ESI $141M
MTX $173M
FY20
ESI $247M
MTX $174M
FY21
ESI $280M
MTX $146M
FY22
ESI $248M
MTX $23.4M
FY23
ESI $281M
MTX $140M
FY24
ESI $294M
MTX $147M
FY25
ESI $228M
MTX $86.6M
ESI
MTX
Return on capital
FY16
ESI 1.0%
MTX 9.1%
FY17
ESI 2.0%
MTX 12.4%
FY18
ESI 2.5%
MTX 10.1%
FY19
ESI 2.6%
MTX 8.3%
FY20
ESI 6.2%
MTX 7.4%
FY21
ESI 6.3%
MTX 8.9%
FY22
ESI 5.5%
MTX 7.3%
FY23
ESI 3.9%
MTX 5.6%
FY24
ESI 7.4%
MTX 8.8%
FY25
ESI 6.5%
MTX 1.6%
ESI
MTX
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.