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FMC
(NYSE:FMC)
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Rating:43Neutral
Price Target:
$5.50
▼(-50.36% Downside)
Action:Reiterated
Date:10/16/26
The score is held down primarily by weak financial performance (large losses and a stressed, highly leveraged balance sheet) and very bearish technical momentum. Valuation support comes mainly from the high dividend yield, but the negative P/E reflects current losses. Earnings-call guidance points to continued near-term profit pressure and only a tentative H2 stabilization, while the Tessenderlo investment is a modest positive for liquidity and strategic support.
Positive Factors
New product and regulatory pipeline
Strong growth in new active ingredients and the Isoflex EU approval expand FMC’s future product pipeline. Broader registrations and access to major planted areas can support differentiated revenue, improve portfolio durability, and reduce reliance on legacy products.
Negative Factors
High leverage and financial inflexibility
Heavy leverage and rising interest expense leave FMC with limited room to absorb further operating weakness. Debt reduction depends on asset sales and other actions, while covenant requirements and financing costs can constrain investment and make recovery execution more consequential.
Read all positive and negative factors
Positive Factors
Negative Factors
New product and regulatory pipeline
Strong growth in new active ingredients and the Isoflex EU approval expand FMC’s future product pipeline. Broader registrations and access to major planted areas can support differentiated revenue, improve portfolio durability, and reduce reliance on legacy products.
Read all positive factors
FMC Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks down revenue across different business segments, highlighting which areas are driving growth and profitability, and revealing strategic focus or potential vulnerabilities.
Breaks down revenue across different business segments, highlighting which areas are driving growth and profitability, and revealing strategic focus or potential vulnerabilities.
Data provided by:
The Fly
The FlyFMC (FMC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$880.39M
Dividend Yield5.65%
Average Volume (3M)5.44M
Price to Earnings (P/E)―
Beta (1Y)1.10
Revenue Growth-21.31%
EPS Growth-2884.91%
CountryUS
Employees5,500
SectorGeneral
Sector StrengthN/A
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)-22.02
Shares Outstanding155,546,000
10 Day Avg. Volume8,268,778
30 Day Avg. Volume5,443,541
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.84
Price to Sales (P/S)0.50
P/FCF Ratio-9.84
Enterprise Value/Market Cap6.13
Enterprise Value/Revenue1.66
Enterprise Value/Gross Profit4.70
Enterprise Value/Ebitda-13.94
Forecast
1Y Price Target
$10.63Price Target Upside-4.11% Downside
Rating ConsensusHold
Number of Analyst Covering14
EPS Forecast (FY)1.14
Revenue Forecast (FY)$3.21B
FMC Business Overview & Revenue Model
Company Description
FMC Corporation functions as an agricultural science enterprise, delivering products for crop safeguarding, plant wellness, and professional pest and turf management. The company is responsible for creating, commercializing, and selling various cr...
How the Company Makes Money
FMC primarily makes money by selling crop protection products to agricultural customers through a mix of direct sales and distribution channels. Revenue is largely generated from its Agricultural Solutions segment, where it earns sales from brande...
FMC Earnings Call Summary
Earnings Call Date:Jul 29, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Neutral
The call balanced operational and strategic positives — Q1 results beat guidance, new active ingredients are gaining momentum, Isoflex EU approval and debt-reduction actions are meaningful achievements — against material near-term financial headwinds including price declines, significant Q2 and full-year profit erosion, weak Q1 free cash flow and elevated leverage. Management expects H1 to be an earnings trough with recovery in H2 and into 2027, but execution on asset sales, registrations and cost actions will be critical.Positive Updates
Q1 Sales Beat Guidance and Solid Volume
Q1 sales of $762M were $12M above the guidance midpoint; sales down 4% YoY but up 1% like-for-like after excluding India. Volume grew 2% and FX provided a 5% tailwind.
Negative Updates
Declining Prices and Competitive Pressure
Overall price decline of ~6% in Q1 driven partly by partner diamide sales and branded Rynaxypyr repositioning; non-diamide product prices down low single digits and legacy core products face intense competition, particularly in LatAm and Asia.
Read all updates
Q2-2026 Updates
Positive
Negative
Q1 Sales Beat Guidance and Solid Volume
Q1 sales of $762M were $12M above the guidance midpoint; sales down 4% YoY but up 1% like-for-like after excluding India. Volume grew 2% and FX provided a 5% tailwind.
Read all positive updates
Company Guidance
FMC reiterated full‑year 2026 guidance with sales of $3.6–$3.8 billion (midpoint ~‑5% y/y), adjusted EBITDA $670–$730 million (midpoint ~‑17%), adjusted EPS $1.63–$1.89 (midpoint ~‑41%), and free cash flow of ‑$65 million to +$65 million (breakeven midpoint) that includes roughly $150 million of restructuring cash; Q2 revenue is guided to $850–$900 million (Q2 midpoint ~‑17% y/y mainly from lower diamide partner sales and removal of India), Q2 adjusted EBITDA $130–$150 million (midpoint ~‑32% y/y) and Q2 adjusted EPS $0.16–$0.26 (midpoint ~‑70% y/y). Management expects second‑half results largely consistent with last year at the midpoint (H2 sales excl. India +1%, H2 EBITDA ~‑6%, H2 adj EPS ~‑15%), FX roughly neutral for the full year after a Q1 +5% tailwind and a minor H2 headwind, full‑year interest expense $255–$275 million, D&A $160–$170 million, and an effective tax rate of 16–18%; balance sheet targets include gross debt of ~ $4.5 billion (net debt ~ $4.1 billion), gross debt/TTM EBITDA 5.7x (net 5.2x), a secured‑leverage covenant of 3.5x, reinstatement of a total leverage covenant at 6.75x on Dec 31, 2026, and a targeted ~$1 billion of debt paydown in 2026 (with ~ $700 million of proceeds currently in active negotiations).FMC Financial Statement Overview
Summary
Income Statement
22
Negative
Balance Sheet
30
Negative
Cash Flow
41
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.25B | 3.47B | 4.25B | 4.49B | 5.80B | 5.05B |
| Gross Profit | 1.15B | 1.28B | 1.58B | 1.91B | 2.39B | 2.19B |
| EBITDA | -386.80M | -84.70M | 662.70M | 786.20M | 1.30B | 1.20B |
| Net Income | -2.76B | -2.24B | 339.90M | 1.32B | 736.50M | 739.60M |
Balance Sheet | ||||||
| Total Assets | 9.14B | 9.69B | 11.65B | 11.93B | 11.17B | 10.67B |
| Cash, Cash Equivalents and Short-Term Investments | 476.60M | 584.50M | 357.30M | 302.40M | 572.00M | 516.80M |
| Total Debt | 4.28B | 4.20B | 3.50B | 4.11B | 3.42B | 3.34B |
| Total Liabilities | 7.48B | 7.59B | 7.14B | 7.49B | 7.77B | 7.53B |
| Stockholders Equity | 1.64B | 2.07B | 4.49B | 4.41B | 3.38B | 3.12B |
Cash Flow | ||||||
| Free Cash Flow | 165.40M | -176.50M | 603.20M | -520.30M | 440.10M | 720.00M |
| Operating Cash Flow | 140.70M | -80.20M | 671.10M | -386.40M | 582.40M | 820.10M |
| Investing Cash Flow | -58.30M | -108.30M | 263.60M | -154.40M | -266.40M | -112.00M |
| Financing Cash Flow | -63.80M | 394.60M | -870.10M | 331.50M | -237.40M | -747.90M |
FMC Technical Analysis
Negative
11.08
Price Trends
10.12
Negative
10.72
Negative
12.75
Negative
Market Momentum
-1.01
Positive
17.19
Positive
13.35
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FMC, the sentiment is Negative. The current price of 11.08 is above the 20-day moving average (MA) of 8.70, above the 50-day MA of 10.12, and below the 200-day MA of 12.75, indicating a bearish trend. The MACD of -1.01 indicates Positive momentum. The RSI at 17.19 is Positive, neither overbought nor oversold. The STOCH value of 13.35 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FMC.
FMC Risk Analysis
FMC disclosed 48 risk factors in its most recent earnings report. FMC reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
FMC Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | $8.59B | 8.53 | 4.08% | 0.66% | 3.70% | -26.39% | |
57 Neutral | $6.41B | 20.42 | 5.02% | 4.15% | 10.92% | -16.91% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
52 Neutral | $3.18B | 43.66 | -21.87% | 4.84% | -1.95% | 44.91% | |
44 Neutral | $31.27M | -0.56 | -27.83% | 1.36% | -3.54% | 56.67% | |
43 Neutral | $880.39M | -0.26 | -118.57% | 5.65% | -21.31% | -2884.91% | |
34 Underperform | $17.42M | -0.08 | -216.09% | ― | -26.10% | 14.85% |
* General Sector Average
FMC
FMC
5.66
-23.10
-80.32%
AVD
American Vanguard
1.06
-4.21
-79.89%
SMG
Scotts Miracle-Gro Company
54.57
2.40
4.61%
ICL
Icl
4.97
-1.05
-17.44%
BIOX
Bioceres Crop Solutions
0.28
-1.36
-83.23%
CTVA
Corteva
12.88
3.67
39.82%
FMC Corporate Events
Business Operations and StrategyExecutive/Board ChangesPrivate Placements and Financing
FMC Forms Strategic Equity Partnership with Tessenderlo Group
Positive
Sep 23, 2026
On September 23, 2026, FMC Corporation completed a minority equity investment transaction with Belgium-based Tessenderlo Group, following a definitive agreement signed on June 30, 2026. Tessenderlo purchased 30,319,166 FMC common shares at $13.30 ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.