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FMC

FMC Corporation

FMC

FMC Corporation • NYSE
$14.29 ▲ 2.44% (+0.34)
Market Cap $1.79 B
52w High $60.49
52w Low $12.17
Dividend Yield 2.32%
P/E -3.71
Volume 2.63M
Outstanding Shares 124.92M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $489M ▼ $543M ▲ $-569.3M ▼ -116.421% ▼ $-4.52 ▼ $-350.4M ▼
Q2-2025 $1.05B ▲ $243.2M ▲ $66.7M ▲ 6.349% ▲ $0.53 ▲ $170.1M ▲
Q1-2025 $791.4M ▼ $240.7M ▲ $-15.5M ▲ -1.959% ▼ $-0.12 ▲ $101.7M ▼
Q4-2024 $1.224B ▲ $228.8M ▲ $-16.8M ▼ -1.372% ▼ $-0.13 ▼ $332.9M ▲
Q3-2024 $1.065B $228.1M $64.8M 6.082% $0.52 $178.7M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $497.7M ▲ $12.079B ▼ $8.278B ▲ $3.774B ▼
Q2-2025 $438.2M ▲ $12.297B ▲ $7.869B ▲ $4.397B ▲
Q1-2025 $315.3M ▼ $11.801B ▲ $7.389B ▲ $4.382B ▼
Q4-2024 $357.3M ▼ $11.653B ▼ $7.144B ▼ $4.487B ▼
Q3-2024 $416.7M $12.219B $7.589B $4.608B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-548.2M ▼ $-208.2M ▼ $-33M ▼ $303.4M ▲ $59.5M ▼ $-231.9M ▼
Q2-2025 $44.4M ▲ $49.5M ▲ $-13.4M ▲ $76.6M ▼ $122.9M ▲ $34.5M ▲
Q1-2025 $-8.6M ▼ $-558.3M ▼ $-38M ▼ $552.1M ▲ $-42M ▲ $-589.9M ▼
Q4-2024 $28.8M ▼ $399.5M ▲ $319.5M ▲ $-768.6M ▼ $-59.4M ▼ $377.9M ▲
Q3-2024 $65.7M $141.2M $-16.3M $-186.2M $-54.8M $125.5M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Fungicides
Fungicides
 $120.00M ▲$50.00M ▼$80.00M ▲$90.00M ▲
Herbicides
Herbicides
 $370.00M ▲$270.00M ▼$380.00M ▲$220.00M ▼
Insecticides
Insecticides
 $660.00M ▲$400.00M ▼$530.00M ▲$200.00M ▼
Plant Health
Plant Health
 $60.00M ▲$50.00M ▼$40.00M ▼$40.00M ▲

Five-Year Company Overview

Income Statement

Income Statement FMC’s sales have come under pressure after a strong peak a few years ago, which is typical of a cyclical agricultural business facing softer demand and channel destocking. Profitability at the operating level remains positive, but earnings have been quite volatile, with one particularly strong year followed by a sharp step down. This pattern suggests the core business is still fundamentally profitable, yet currently working through a tougher part of the cycle with weaker pricing and volumes in some regions. Overall, the income statement shows a solid but cyclical business that is not growing consistently year to year and is dealing with margin pressure versus its prior high point.

Balance Sheet

Balance Sheet The balance sheet looks reasonably balanced for a chemicals and crop protection company. Total assets have grown gradually, and shareholder equity has trended higher, which indicates that, over time, the company has been building its capital base rather than eroding it. Debt sits at a meaningful but not extreme level for this type of business, implying some financial leverage but not an obviously stretched position. Cash on hand is modest, so FMC is not overly liquid but appears adequately positioned as long as cash flows remain healthy. Overall, the balance sheet reflects a mature industrial business with manageable leverage and no obvious structural red flags, but not a fortress level of conservatism either.

Cash Flow

Cash Flow FMC’s cash flow story is mixed but improving. Most years show healthy cash generation from operations and solid free cash flow after investments, which supports debt service, dividends, and ongoing R&D. However, there was a recent year with negative operating cash flow, pointing to working capital swings and the impact of weaker market conditions. The latest period shows a return to positive and more normal free cash flow, helped by disciplined capital spending levels that have stayed relatively modest. In plain terms, FMC generally converts its profits into cash, but cash flows can be bumpy when the ag cycle turns or inventories and receivables move sharply.

Competitive Edge

Competitive Edge FMC holds a strong competitive position in crop protection, focused more narrowly than some diversified giants but deep in its chosen niches. Its advantage rests on proprietary active ingredients, long-lived patents, and a substantial installed base of branded insecticides and herbicides used worldwide. A global distribution footprint and direct relationships with growers in key markets like Brazil give it good market access and local insight. Economies of scale in manufacturing and logistics help it compete on cost, while its integrated offering of synthetic products, biologicals, and digital decision tools makes it harder for smaller players to match. FMC still faces heavy competition from large rivals such as Bayer, Syngenta, BASF, and Corteva, but its focused, innovation-driven model gives it a defensible, though not unassailable, moat.

Innovation and R&D

Innovation and R&D Innovation is the centerpiece of FMC’s strategy and one of its clearest strengths. The company consistently develops new active ingredients with novel modes of action, addressing pest and weed resistance where older chemistries are losing effectiveness. It complements traditional chemistry with biological products, plant health solutions, and precision agriculture tools such as the Arc farm intelligence platform, which uses data to help farmers apply products more precisely. FMC’s research engine is sizable, and its venture arm invests in emerging technologies like AI and robotics, broadening its access to new ideas. The long-term plan leans heavily on a pipeline of new molecules, biologicals, pheromone-based products, and next-generation formulations, all aimed at more sustainable, higher-value solutions. This creates both opportunity and execution risk: success would reinforce its moat and margins, while delays or regulatory setbacks could weigh on growth.

Summary

FMC is a specialized agricultural chemicals company with a clear innovation-led strategy, operating in a highly cyclical market. Recent years show a business that was very profitable at its peak but is now navigating a downcycle in crop protection demand, with softer revenue and more volatile earnings. The balance sheet and cash flows look consistent with a mature industrial player: leverage is meaningful but not excessive, cash generation is generally solid but can swing with working capital and market conditions. Competitively, FMC benefits from patented products, scale, and strong grower relationships, yet it competes against very large global peers and remains exposed to weather, crop prices, and regulatory trends. The company’s heavy emphasis on R&D, biologicals, and digital tools positions it for long-term relevance in more sustainable agriculture, but the near-to-medium term will likely continue to reflect the ups and downs of the global ag cycle and the pace at which its new product pipeline converts into commercial success.

NEWS

November 19, 2025 · 4:30 PM UTC

FMC Corporation Chairman and CEO Pierre Brondeau and CFO Andrew Sandifer to speak at Goldman Sachs Industrials and Materials Conference

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November 10, 2025 · 3:59 PM UTC

Johnson Fistel Continues Investigation on Behalf of FMC Corporation Long-Term Shareholders

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October 31, 2025 · 8:12 AM UTC

Johnson Fistel Continues Investigation on Behalf of FMC Corporation Long-Term Shareholders

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October 29, 2025 · 4:35 PM UTC

FMC Corporation Announces Leadership Change

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October 29, 2025 · 4:30 PM UTC

FMC Corporation Reports Third Quarter Results

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