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Fmc Corp. (FMC)
NYSE:FMC
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FMC
(NYSE:FMC)
60Neutral
Positive Factors
Brazilian Market Expansion
The new Brazilian sales channel could expand the addressable market by ~30% by targeting large farms focused on corn and soy.
Latin America Revenue
FMC's 1Q25 earnings beat was largely driven by better than expected revenue from Latin America, which more than offset weaker revenue from North America impacted by cautious purchasing patterns and price declines.
New Product Growth
Cyazypyr should remain a tailwind through 2028-2029, with growth rates of 13-17%, and new products are expected to add $800m-$1bn by 2030.
Negative Factors
Generic Competition
The company is seeing increased generic competition for Rynaxypyr in China, India, Eastern Europe and South America, pressuring both pricing and volumes.
Inventory Levels
The company indicated that there is still FMC-specific elevated levels of inventory in some countries.
US Tariffs Impact
A headwind from US tariffs on Canadian imports is expected to impact FMC's sales and earnings, with each 1% hit to US farm profits potentially cutting FMC sales by $3.8-5.8m.
FMC (FMC) vs. S&P 500 (SPY)
Market Cap
$4.72B
Dividend Yield6.14%
Average Volume (3M)3.43M
Price to Earnings (P/E)14.5
Beta (1Y)0.74
Revenue Growth1.45%
EPS Growth-70.85%
CountryUS
Employees5,700
SectorBasic Materials
Sector Strength59
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)0.18
Shares Outstanding124,909,225
10 Day Avg. Volume2,040,840
30 Day Avg. Volume3,425,198
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap1.93
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit5.54
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$45.46Price Target Upside20.33% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering13
FMC Business Overview & Revenue Model
Company DescriptionFMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control. The company markets its products through its own sales organization and through alliance partners, independent distributors, and sales representatives. It operates in North America, Latin America, Europe, the Middle East, Africa, and Asia. FMC Corporation was founded in 1883 and is headquartered in Philadelphia, Pennsylvania.
How the Company Makes MoneyFMC Corporation generates revenue primarily through the sale of its crop protection products, which are distributed globally to farmers and agricultural businesses. The company's key revenue streams include sales from its insecticides, herbicides, and fungicides, each designed to protect crops from pests, weeds, and diseases. FMC's robust research and development initiatives enable it to innovate and expand its product offerings, thereby maintaining a competitive edge in the market. Additionally, FMC benefits from strategic partnerships and collaborations with agricultural organizations and institutions, which enhance its market reach and product development capabilities. Factors such as global agricultural trends, regulatory changes, and climate conditions also play a significant role in influencing FMC's earnings.
FMC Financial Statement Overview
Summary
FMC's financial performance shows moderate health with challenges in revenue and profit margins. The balance sheet is stable with manageable debt, but cash flow is a concern due to a significant decline in free cash flow.Income Statement
The TTM revenue of $4.12 billion shows a decline from the previous year's $4.49 billion, indicating a negative revenue growth rate. The gross profit margin is approximately 39.3%, showing strong profitability but with a slight decline from previous periods. The net profit margin stands at 8.1%, showing moderate profitability. However, EBIT and EBITDA margins have decreased, suggesting potential challenges in operational efficiency.―
Balance Sheet
The debt-to-equity ratio is moderate at 0.22, indicating a balanced approach to leverage. The return on equity (ROE) is approximately 7.6%, which is relatively low, suggesting room for improvement in generating returns for shareholders. The equity ratio is around 37.1%, showing a stable capital structure with a healthy equity base.70
Cash Flow
The free cash flow has decreased significantly from $603.2 million to $243.3 million, indicating a substantial negative growth rate. The operating cash flow to net income ratio is 0.87, which is below optimal levels, suggesting challenges in cash generation relative to net income. The free cash flow to net income ratio is 0.73, showing limited free cash flow generation.―
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 4.25B | 4.49B | 5.80B | 5.05B | 4.64B | Gross Profit |
| 1.65B | 1.83B | 2.33B | 2.17B | 2.05B | EBIT |
| 651.60M | 679.20M | 1.06B | 962.00M | 850.50M | EBITDA |
| 737.40M | 786.20M | 1.30B | 1.19B | 1.04B | Net Income Common Stockholders |
| 339.90M | 1.32B | 736.50M | 739.60M | 552.40M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 357.30M | 302.40M | 572.00M | 516.80M | 568.90M | Total Assets |
| 11.65B | 11.93B | 11.17B | 10.58B | 10.19B | Total Debt |
| 3.50B | 4.11B | 3.27B | 3.17B | 3.27B | Net Debt |
| 3.14B | 3.80B | 2.70B | 2.66B | 2.70B | Total Liabilities |
| 7.14B | 7.49B | 7.77B | 7.53B | 7.20B | Stockholders Equity |
| 4.49B | 4.41B | 3.40B | 3.05B | 2.98B |
| Cash Flow | Free Cash Flow | |||
| 603.20M | -520.30M | 440.10M | 720.00M | 580.60M | Operating Cash Flow |
| 671.10M | -386.40M | 582.40M | 820.10M | 647.80M | Investing Cash Flow |
| 263.60M | -154.40M | -266.40M | -112.00M | -169.30M | Financing Cash Flow |
| -870.10M | 331.50M | -237.40M | -747.90M | -250.30M |
FMC Technical Analysis
Negative
37.78
Price Trends
39.29
Negative
43.78
Negative
51.74
Negative
Market Momentum
0.09
Negative
42.99
Neutral
40.36
Neutral
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 37.78 is below the 20-day moving average (MA) of 38.27, below the 50-day MA of 39.29, and below the 200-day MA of 51.74, indicating a bearish trend. The MACD of 0.09 indicates Negative momentum. The RSI at 42.99 is Neutral, neither overbought nor oversold. The STOCH value of 40.36 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FMC.
FMC Risk Analysis
FMC disclosed 33 risk factors in its most recent earnings report. FMC reported the most risks in the “Macro & Political” 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
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $13.42B | 11.96 | 22.76% | 2.48% | -10.48% | -13.78% | |
76 Outperform | $8.76B | 21.52 | 7.08% | 2.76% | -8.59% | -37.13% | |
69 Neutral | $42.78B | 48.06 | 3.49% | 1.07% | -1.85% | 26.00% | |
64 Neutral | $9.68B | 55.94 | 1.47% | 2.79% | -18.79% | -84.24% | |
60 Neutral | $4.72B | 14.50 | 8.81% | 6.14% | 1.45% | -70.85% | |
50 Neutral | $3.13B | 109.77 | 4.98% | ― | 0.75% | ― | |
49 Neutral | $1.95B | -1.27 | -21.38% | 3.72% | 0.83% | -29.30% |
* Basic Materials Sector Average
Performance Comparison
FMC
FMC
37.78
-20.52
-35.20%
CF
Cf Industries Holdings
80.60
7.93
10.91%
MOS
Mosaic Co
30.51
2.39
8.50%
SMG
Scotts Miracle-Gro Company
54.50
-14.22
-20.69%
ICL
Icl
6.79
2.23
48.90%
CTVA
Corteva
62.63
6.90
12.38%
FMC Earnings Call Summary
Earnings Call Date:Nov 04, 2025
(Q1-2025)
| % Change Since: -9.88%|
Next Earnings Date:Feb 10, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed picture with notable progress in strategic initiatives and a positive outlook for the second half of 2025, driven by new product launches and market expansions. However, the company faced significant challenges in Q1 with sales declines, tariff impacts, and regional performance issues, particularly in North America, Asia, and EMEA.Q1-2025 Updates
Positive Updates
Strong Progress in Key Focus Areas
FMC made significant advancements in four critical focus areas: aligning channel inventory levels, implementing a post-patent strategy, establishing a new route to market in Brazil, and ensuring resources for the growth portfolio, particularly with Rynaxypyr.
New Product Launches and Market Expansion
FMC introduced new formulations of Rynaxypyr and Bifenthrin, with expected sales of $200-$250 million in 2025. Additionally, the company is launching new products in Brazil, targeting large corn and soybean growers, expected to provide a multi-hundred million dollar growth opportunity.
Growth in Plant Health Segment
The Plant Health business outperformed the portfolio with sales up 1% versus the prior year, driven by biologicals. The recent registration of Sofero pheromone in Brazil is expected to boost sales further.
Positive Outlook for Second Half of 2025
FMC expects strong growth in the second half of 2025, driven by new products, a new route to market in Brazil, and improved channel inventory levels. The company anticipates a revenue growth of 7% and EBITDA growth of 11% in the second half.
Negative Updates
Sales Decline in Q1 2025
Company sales declined 14% versus the prior year, with pricing down 9% and a 4% FX headwind. Volume was down 1%, with North America experiencing a 28% sales decline due to cautious purchasing patterns.
Impact of Tariffs and FX Headwinds
FMC is facing a $15-$20 million headwind from newly announced tariffs, and FX was a 4% headwind to revenue growth in Q1, driven by the Brazilian real and European currencies.
Challenges in Asia and EMEA
Asia sales declined 21%, and EMEA reported a 7% lower sales, excluding currency impacts. The decline in EMEA was largely due to the expected loss of registration for triflusulfuron herbicide.
Company Guidance
During the First Quarter 2025 Earnings Call for FMC Corporation, the company provided guidance indicating a positive outlook for the second half of the year despite some early challenges. The company anticipates a revenue decline of 2% in the second quarter, with lower pricing and a foreign exchange headwind, but expects growth in the second half driven by cost favorability and new product sales. Specifically, full-year sales are expected to be flat, with adjusted EBITDA projected to grow 1% and adjusted earnings per share remaining flat. The call highlighted strategic efforts, such as reducing channel inventory, implementing a post-patent strategy, and establishing a new route to market in Brazil. The latter is expected to capitalize on a multi-hundred million dollar growth opportunity by selling directly to large corn and soybean growers. Additionally, significant growth is anticipated from new products like Rynaxypyr mixtures, with sales projected to reach $200 million to $250 million in 2025. Despite facing a $15 million to $20 million cost headwind from tariffs, the company remains confident in its ability to achieve its financial targets for 2025.FMC Corporate Events
Executive/Board Changes
FMC Announces Leadership Transition with New EVP Appointment
Neutral
Apr 22, 2025
On April 22, 2025, FMC Corporation announced the retirement of Michael F. Reilly, who has been with the company since 2002 and served as Executive Vice President, General Counsel, Chief Compliance Officer, and Secretary since 2019. Reilly will retire fully from FMC on July 1, 2025, after significantly contributing to the company’s transformation into a focused agricultural sciences entity. Sara Velazquez Ponessa has been appointed to succeed Reilly as Executive Vice President, General Counsel, and Corporate Secretary, effective June 1, 2025. Ponessa, who previously worked at FMC and held significant legal roles at Livent Corporation and Arcadium Lithium plc, brings extensive experience and a strong track record to her new position. Her appointment is expected to ensure continuity and strengthen FMC’s legal and compliance functions.
Spark’s Take on FMC Stock
According to Spark, TipRanks’ AI Analyst, FMC is a Neutral.
FMC’s overall stock score reflects a cautious outlook. The key strengths include a solid balance sheet and attractive dividend yield, partially offsetting the significant revenue decline and operational challenges. Technical indicators and the earnings call sentiment further highlight short-term uncertainties. Addressing these issues is crucial for future growth and improved investor confidence.
To see Spark’s full report on FMC stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.