FMC Corp FMC

MaterialsChemicalsUnited States of America

Last close 6.20 USD on Nov 1, 2026, −54.4% year to date

Quant rating

Quant rating D Rank 138 of 151 in Materials

Growth B 49 of 151
Valuation C 87 of 151
Quality D 125 of 151
Revisions D 119 of 151
Momentum D 148 of 151

Wall Street consensus Hold (2.95)Average target 8.69 USD +40.2%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 964M
Enterprise value: 4.8B
52-week range: 4.38 – 18.27
3-year range: 4.38 – 67.53
Dividend yield: 5.16%
Beta (5 years): 0.46
Shares outstanding: 156M
Next earnings: Feb 4, 2027

About the company

FMC Corporation is a global agricultural sciences company engaged in providing farmers solutions that increase the productivity and resilience of their land. The Company’s crop protection solutions, including biologicals, crop nutrition, digital and precision agriculture, enable growers and crop advisers to address their challenges economically while protecting the environment. Its portfolio consists of three major pesticide categories: insecticides, herbicides and fungicides. The majority of its product lines consist of insecticides and herbicides, and it has a portfolio of fungicides mainly used in high-value crop segments. Its insecticides are used to control a wide spectrum of pests, while its herbicide portfolio primarily targets a large variety of difficult-to-control weeds. In addition, it is also investing in its Plant Health program, which includes biologicals, crop nutrition, and seed treatment products. Biological technologies serve as complements to its synthetic products.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	3,467	4,246	4,487	5,802	5,045	–
Revenue growth	−18.3%	−5.4%	−22.7%	15.0%	8.7%	−5.7%
EPS (basic, normalized)	2.96	3.48	3.78	7.41	6.93	–
EPS growth	−14.9%	−7.9%	−49.0%	6.9%	–	–
Gross margin	37.0%	38.8%	40.8%	40.1%	43.0%	40.0%
Net margin	−63.5%	9.5%	31.6%	14.3%	15.9%	1.6%
ROE	−67.2%	9.1%	36.5%	25.6%	26.4%	6.1%

Balance sheet, last quarter
Cash & short-term investments (mil)	736
Current ratio	1.99x
Long-term debt (mil)	3,954
Net debt (mil)	3,828
Total equity (mil)	1,637
Net debt / equity	2.34x
Net debt / EBITDA	4.54x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	3,467	−18.3%	1.4x	843	−4.6%	5.7x	2.96	−14.9%	2.1x
2026	3,204	−7.6%	1.5x	253	−70.0%	19.0x	−1.67	−156.3%	−3.7x
2027	3,557	+11.0%	1.3x	625	+147.0%	7.7x	1.21	+172.8%	5.1x
2028	3,713	+4.4%	1.3x	707	+13.3%	6.8x	1.76	+45.1%	3.5x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	3,204	−10.7%	−11.5%	−13.2%	−1.67	−226.0%	−213.9%	−195.2%
2027	3,557	−4.9%	−5.8%	−7.6%	1.21	−25.4%	−29.2%	−45.8%
2028	3,713	−4.5%	−5.3%	−6.4%	1.76	−11.9%	−12.9%	−28.4%

Earnings surprises EPS beat in 3 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	918	1,038	1,065	1,224	791	1,050	961	1,086	762	867
Sales mean (mil)	1,008	1,039	1,036	1,316	784	997	1,063	1,151	744	905
Surprise	−8.9%	0.0%	+2.9%	−6.9%	+0.9%	+5.4%	−9.6%	−5.6%	+2.4%	−4.2%
EPS reported	0.36	0.63	0.69	1.79	0.18	0.69	0.89	1.20	−0.23	0.26
EPS mean	0.33	0.55	0.53	1.60	0.09	0.62	0.86	1.20	−0.33	0.22
Surprise	+8.7%	+13.7%	+31.0%	+11.8%	+90.1%	+12.1%	+4.0%	−0.2%	+30.7%	+16.4%

Peer comparison Chemicals

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
FMC FMC Corp	964M	4.54x	−63.5%	0.47x	−3.7x	5.1x	19.0x	7.7x
LIN Linde PLC	236.1B	1.82x	20.3%	5.99x	28.7x	26.3x	18.3x	17.2x
SHW Sherwin-Williams Co	80.4B	2.50x	10.9%	20.21x	27.6x	25.1x	18.9x	17.8x
ECL Ecolab Inc.	85.0B	3.22x	12.9%	8.15x	37.1x	32.3x	22.2x	19.8x
APD Air Products and Chemicals, Inc.	70.5B	3.82x	−3.2%	5.08x	23.6x	22.0x	16.4x	15.4x
BASFn BASF SE	53.2B	2.60x	2.4%	1.29x	16.9x	17.5x	8.6x	8.5x
Mean		3.09x	−3.4%	6.86x	21.7x	21.4x	17.2x	14.4x
Median		2.91x	6.6%	5.53x	25.6x	23.5x	18.6x	16.3x

Technical analysis

1M−32.1%
3M−42.8%
1Y−79.2%
3Y−87.7%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, FMC Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	3,467	4,246	4,487	5,802	5,045	4,642
Cost of revenue	2,184	2,597	2,656	3,476	2,874	2,590
Gross profit	1,283	1,649	1,831	2,327	2,172	2,052
Selling, general & administrative expenses	685	645	734	775	714	676
Research & development	266	278	329	314	305	288
Interest expense (income), operating	7.7	0	75.2	–	–	–
Unusual expense (income)	1,853	129	61.4	50.7	41.5	162
Other operating expenses	99.4	91.2	75.7	42.4	66.9	24.0
Operating income	−1,628	506	556	1,144	1,045	902
Net interest income (expense)	−240	−236	−237	−152	−131	−151
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−18.7	−18.2	−18.2	−8.6	−20.0	−21.2
Net income before taxes	−1,887	252	300	984	894	730
Provision for taxes	314	−151	−1,119	145	91.6	151
Minority interest	−1.5	−0.5	0.5	−5.0	2.5	0.9
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	−2,202	403	1,420	834	805	580
Extraordinary items	−36.6	−61.8	−98.5	−97.2	−68.2	−28.3
Net income	−2,239	341	1,322	736	736	552
EBIT, normalized	233	635	692	1,195	1,086	1,064
EBITDA, normalized	406	811	876	1,364	1,257	1,226
Basic EPS, normalized	2.96	3.48	3.78	7.41	6.93	–

Balance sheet in millions of USD, fiscal years

Balance sheet, FMC Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	584	357	302	572	517	569
Receivables	2,362	3,166	2,945	3,044	2,584	2,528
Total inventory	1,220	1,202	1,725	1,652	1,522	1,096
Prepaid expenses	164	187	157	158	431	183
Other current assets	628	47.0	0.2	13.2	0	0.3
Total current assets	4,959	4,958	5,129	5,439	5,054	4,376
Property, plant & equipment	812	960	1,014	973	952	919
Goodwill	0	1,507	1,594	1,589	1,463	1,469
Intangibles	2,457	2,473	2,588	2,641	2,522	2,625
Long-term investments	20.4	25.6	19.8	14.5	9.2	3.1
Note receivable	75.1	39.7	19.5	60.8	–	104
Other long-term assets	1,364	1,690	1,562	454	673	691
Total assets	9,687	11,653	11,926	11,171	10,673	10,186
Liabilities
Accounts payable	771	768	602	1,252	1,135	947
Payable/accrued	–	–	–	–	–	–
Accrued expenses	967	1,166	1,088	979	1,042	887
Short-term debt	720	261	838	452	356	245
Current portion of long-term debt	586	76.1	96.5	88.5	84.5	93.6
Other current liabilities	712	747	760	1,028	902	657
Total current liabilities	3,755	3,019	3,385	3,800	3,520	2,829
Long-term debt	2,770	3,028	3,024	2,733	2,732	2,930
Minority interest	27.4	21.3	22.5	23.0	19.4	22.4
Other liabilities	1,063	1,097	1,085	1,238	1,277	1,444
Total liabilities	7,616	7,166	7,515	7,793	7,549	7,225
Shareholders' equity
Preferred stock	0	0	0	0	0	0
Common stock	18.6	18.6	18.6	18.6	18.6	18.6
Additional paid-in capital	972	966	936	909	880	860
Retained earnings (accumulated deficit)	4,170	6,638	6,587	5,556	5,093	4,506
Treasury stock	−2,720	−2,724	−2,724	−2,646	−2,542	−2,141
Other equity	−369	−411	−407	−460	−325	−282
Total equity	2,072	4,488	4,411	3,378	3,124	2,962
Total liabilities & shareholders' equity	9,687	11,653	11,926	11,171	10,673	10,186

Cash flow statement in millions of USD, fiscal years

Cash flow statement, FMC Corp, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	−2,237	342	1,321	742	734	551
Depreciation, depletion & amortization	174	176	184	169	171	163
Deferred taxes	305	−340	−1,293	−52.7	9.7	33.6
Non-cash items	2,281	260	272	149	140	116
Changes in working capital	−602	234	−870	−425	−235	−215
Cash from operations	−80.2	671	−386	582	820	648
Investing activities
Capital expenditures	−96.3	−67.9	−134	−142	−113	−180
Other investing cash flows	−3.4	332	−20.5	−124	0.8	10.7
Cash from investing	−99.7	264	−154	−266	−112	−169
Financing activities
Financing cash flow items	−30.0	−0.7	−1.4	15.8	−2.4	−12.2
Cash dividends paid	−291	−291	−290	−268	−247	−228
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	707	−579	623	14.3	−498	−9.6
Cash from financing	386	−870	332	−237	−748	−250
Foreign exchange effects	21.1	−9.7	−60.3	−23.4	−12.3	1.6
Net change in cash	227	54.9	−270	55.2	−52.1	230
Free cash flow	−176	603	−520	440	707	468

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.