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Cabot Corporation

CBT

Cabot Corporation • NYSE
$62.57 ▼ -1.23% (-0.78)
Market Cap $3.31 B
52w High $115.16
52w Low $58.33
Dividend Yield 1.78%
P/E 10.39
Volume 317.36K
Outstanding Shares 52.90M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q4-2025 $899M ▼ $86M ▲ $43M ▼ 4.783% ▼ $0.79 ▼ $184M ▼
Q3-2025 $923M ▼ $77M ▼ $101M ▲ 10.943% ▲ $1.87 ▲ $213M ▲
Q2-2025 $936M ▼ $79M ▼ $94M ▲ 10.043% ▲ $1.71 ▲ $208M ▲
Q1-2025 $955M ▼ $80M ▼ $93M ▼ 9.738% ▼ $1.69 ▼ $199M ▲
Q4-2024 $1.001B $90M $137M 13.686% $2.52 $191M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q4-2025 $239M $3.837B $2.154B $1.541B
Q3-2025 $239M ▲ $3.837B ▲ $2.154B ▼ $1.541B ▲
Q2-2025 $213M ▲ $3.784B ▲ $2.194B ▲ $1.427B ▲
Q1-2025 $183M ▼ $3.642B ▼ $2.127B ▼ $1.366B ▼
Q4-2024 $223M $3.736B $2.146B $1.425B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q4-2025 $43M ▼ $219M ▼ $-59M ▲ $-146M ▲ $19M ▼ $155M ▼
Q3-2025 $101M ▼ $249M ▲ $-65M ▲ $-183M ▼ $26M ▼ $215M ▲
Q2-2025 $105M ▲ $73M ▼ $-70M ▲ $17M ▲ $30M ▲ $-26M ▼
Q1-2025 $104M ▼ $124M ▼ $-104M ▼ $-24M ▲ $-40M ▼ $47M ▼
Q4-2024 $137M $204M $-89M $-89M $26M $112M

Revenue by Products

Product Q1-2025Q2-2025Q3-2025Q4-2025
Performance Chemicals
Performance Chemicals
 $310.00M ▲$310.00M ▲$320.00M ▲$310.00M ▼
Reinforcement Materials
Reinforcement Materials
 $610.00M ▲$590.00M ▼$570.00M ▼$560.00M ▼

Five-Year Company Overview

Income Statement

Income Statement Cabot’s revenue over the last few years has been fairly steady rather than fast‑growing, but profitability has clearly improved. Gross and operating profits have trended higher, which suggests better pricing power, a richer product mix, and tighter cost control. Earnings at the bottom line have been more volatile, with an exceptionally strong year followed by a step down, likely reflecting tax, interest, or one‑time items rather than a deterioration in the core business. Overall, the income statement shows a mature industrial company that is squeezing more profit out of each dollar of sales, even if top‑line growth is not rapid.

Balance Sheet

Balance Sheet The balance sheet looks gradually stronger. The asset base has inched up over time, indicating measured growth rather than aggressive expansion. Debt levels, while still meaningful, have been coming down from their recent peak, which reduces financial risk and interest burden. Shareholders’ equity has rebuilt nicely after earlier pressure, reflecting retained profits and a healthier capital structure. Cash on hand is modest but stable, so the company appears adequately but not lavishly liquid, relying on steady cash generation rather than a large cash cushion.

Cash Flow

Cash Flow Cash generation has improved noticeably. Operating cash flow was weak a few years ago but has since strengthened, now more closely matching reported profits. After funding a fairly consistent level of capital spending, the company has recently produced solid positive free cash flow, a marked improvement from the period when it was slightly negative. This pattern suggests that Cabot is now comfortably funding its maintenance and growth investments from internal cash, with room left over to reduce debt or support shareholder returns if management chooses.

Competitive Edge

Competitive Edge Cabot occupies a focused niche in specialty chemicals, with particular strength in carbon black, reinforcing materials, and performance additives. Its global manufacturing footprint and close, technical relationships with large customers create switching costs and support recurring business. The company’s emphasis on tailored solutions, high performance specifications, and sustainability standards helps differentiate it from more commodity‑oriented competitors. That said, it still operates in cyclical end markets like tires, automotive, and industrial applications, so demand can be sensitive to global economic conditions and competition from other major chemical producers remains a constant pressure.

Innovation and R&D

Innovation and R&D Innovation is a clear pillar of Cabot’s strategy. The company has leveraged deep carbon materials science to develop higher‑value products such as specialty carbon blacks, inkjet colorants, aerogels, and advanced battery additives. Its work on conductive carbon additives for lithium‑ion batteries, as well as circular and bio‑based reinforcing materials, positions it well in fast‑growing areas like electric vehicles and sustainable materials. Cabot also experiments with unique business models, such as leasing certain specialized fluids rather than simply selling them. The main challenge is execution: battery and sustainability markets are evolving quickly, so maintaining technical leadership and getting new products qualified at large customers is crucial.

Summary

Overall, Cabot looks like a disciplined, innovation‑driven specialty chemicals company with improving profitability, a healthier balance sheet, and stronger cash generation than a few years ago. Its established positions in carbon black and performance materials provide a solid base, while its push into battery materials and sustainable solutions offers meaningful long‑term growth potential. At the same time, its results remain tied to cyclical industrial and automotive demand, and its success in newer markets will depend on staying ahead in technology and scaling new products efficiently. The company appears to be moving in a positive direction operationally, but its future trajectory will hinge on how well it converts its innovation pipeline into durable, high‑margin businesses.

NEWS

November 21, 2025 · 9:00 AM UTC

Cabot Corporation Announces Reinforcement Materials Segment Executive Transition

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November 18, 2025 · 9:00 AM UTC

Cabot Corporation's LITX® 95F Conductive Carbon Named One of the “Top 10 Exhibits of 2025” at CIIE

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November 13, 2025 · 6:30 PM UTC

Cabot Corporation Board Declares Dividend

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November 3, 2025 · 4:30 PM UTC

Cabot Corporation Appoints Robert Rist as Vice President of Investor Relations and Corporate Planning

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October 7, 2025 · 9:00 AM UTC

Cabot Corporation Strengthens Manufacturing Capabilities in North America for Circular Reinforcing Carbons Powered by its EVOLVE® Sustainable Solutions Technology Platform

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