FMC
FMC CORP
Materials • CIK: 0000037785
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Market Cap
$4.21B
P/E (TTM)
-7.9x
Rev Growth (TTM)
-13.4%
Net Margin (TTM)
-14.8%
FCF Yield (TTM)
-2.2%
FCF Margin (TTM)
-2.5%
Cash Flow Health
Free Cash Flow0/8 positive
TTM$-92M
Q3 '25
$-24M-58%
Q2 '25
$-15M+53%
FCF Margin
TTM-2.5%
Q3 '25-4.4%-206%
Sector: 4.7%Below Avg
OCF Margin–
OCF/NI–
CapEx Coverage–
FCF Yield-2.2%
FCF Growth (2Y)–
Cash Conversion Cycle
377 days
DSO: 291+DIO: 219−DPO: 133
Capital Allocation & Returns
Shareholder Friendly
Total Shareholder Yield
TTM6.9%
Div Yield6.9%
Strong capital returns to shareholders
Dividend & Payout Metrics
Dividend Yield (TTM)6.9%
Free Cash Flow (TTM)$-91.9M
Stock Repurchases ()$0
Capital Return / FCF-316.8%
Est. Dividends Paid (TTM)$291.1M
Shows how management rewards shareholders
Operational Efficiency & Returns
Return on Invested CapitalTTM
0.6%
Volatile
-1.0% YoY+38.8%
P25MedianP75
75th pctl (med: 0.1%)
DuPont BreakdownROIC = Margin × Turn × (1+D/E)
NOPAT Margin
1.4%
8Q: -4.9%
Asset Turnover
0.30x
8Q: 0.35x
Leverage (1+D/E)
2.20x
D/E: 1.20x
DuPont: 0.9% ≈ 0.6% ROIC
Asset & CapEx Efficiency
Fixed Asset Turn
4.17x
8Q:4.79x
-151.5%
Invested Cap Turn
0.54x
8Q:0.63x
-19.4%
CapEx Intensity
1.4%
8Q:1.3%
CapEx/Depreciation
0.53x
Asset-based ROIC formula
QUARTERLY TRENDS
Last 8 quarters + TTM
| Metric | TTM | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 |
|---|---|---|---|---|---|---|---|---|---|
Revenue | $3.6B | $542.2M↓48.4% | $1.1B↑32.7% | $791.4M↓35.4% | $1.2B↑14.9% | $1.1B↑2.6% | $1.0B↑13.1% | $918.0M↓19.9% | $1.1B |
Operating Income | $22.9M | $-396.3M↓413.5% | $126.4M↑117.2% | $58.2M↓75.2% | $234.6M↑73.0% | $135.6M↑117.7% | $62.3M↓15.8% | $74.0M↑308.8% | $18.1M |
Net Income | $-534.4M | $-569.3M↓953.5% | $66.7M↑530.3% | $-15.5M↑4.9% | $-16.3M↓125.1% | $65.0M↓78.0% | $295.1M↑11029.6% | $-2.7M↓100.2% | $1.1B |
Operating Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Free Cash Flow | $-91.9M | $-23.7M↓58.0% | $-15.0M↑52.5% | $-31.6M↓46.3% | $-21.6M↓37.6% | $-15.7M↓58.6% | $-9.9M↑52.2% | $-20.7M↑17.5% | $-25.1M |
Total Equity | N/A |
Valuation Analysis
Fair Value
Price-to-EarningsTTM
-7.9x
Volatile
8Q: -0.1x+121563%
Valuation Lenses
Earnings
-7.9x
vs – sector
Cash Flow
-131.1x
EV/FCF vs –
Growth-Adj
–PEG
N/A
Quality-Adj
–P/E per %ROIC
ROIC: 0.6%
Shareholder Returns
Dividend
6.9%
Buyback
–
Total Yield
6.9%
Market Cap$4.21B
EV–
Multi-angle valuation analysis with sector context
Business Quality & Moat
Overall Quality Score
-17/100
Below Average
Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)
Returns on Capital
Return on Equity (ROE)Top 10%
-12.2%
8Q:–
Return on Invested Capital (ROIC)Top 25%
0.6%
8Q:–
+38.8%
vs Sector:0.1%
DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)
NOPAT Margin: 1.4%
Asset Turnover: 0.30x
Earnings Quality
Cash Conversion
–
OCF / Net Income
FCF Consistency
–
Positive quarters
Competitive Moat Indicators
Pricing Power
Gross Margin38.1%
Capital Efficiency
Invested Capital Turnover0.54x
Working Capital
Cash Conversion Cycle377 days
Growth Quality & Momentum
Low Quality
Growth Quality Score
37/100
Growth 40%
Margins 30%
FCF 20%
Consistency 10%
Growth Rates
Revenue Growth YoY
-13.4%
OpInc Growth YoY
-392.3%
EPS Growth YoY
N/A
FCF 3Y CAGR
N/A
Growth Quality Analysis
⚠Sustainability Index: 3.0/10 - Growth sustainability concerns
Margin Quality & Sustainability
Moderate
Profitability Cascade
Gross
38.1%
Operating
0.6%
Below Avg in sector
Net
-14.8%
Margins Unknown
Earnings Quality Signals
SBC / Revenue
—
FCF vs Net Gap
+12.3 pts
FCF: -2.5% | Net: -14.8%
Quality = stability + cash conversion + low dilution
Balance Sheet & Solvency
Leveraged
Net Debt / EBITDA
–Net Debt: $4.04B
Interest Coverage
–
Leverage Metrics
Debt-to-Equity
1.20x
Balance sheet risk & solvency analysis