FMC (FMC) AI Stock Analysis

• Market Cap: $1.81B
• Dividend Yield: 16.68%
• Average Volume (3M): 4.58M
• Price to Earnings (P/E): ―
• Beta (1Y): 1.07
• Revenue Growth: -13.42%
• EPS Growth: -136.59%
• Country: US
• Employees: 5,700
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Agricultural Inputs
• EPS (TTM): 1.20
• Shares Outstanding: 124,920,070
• 10 Day Avg. Volume: 6,040,935
• 30 Day Avg. Volume: 4,579,493
• PEG Ratio: <0.01
• Price to Book (P/B): 0.83
• Price to Sales (P/S): 0.50
• P/FCF Ratio: -21.65
• Enterprise Value/Market Cap: 2.94
• Enterprise Value/Revenue: 1.53
• Enterprise Value/Gross Profit: 4.14
• Enterprise Value/Ebitda: -3.10
• 1Y Price Target: $16.15
• Price Target Upside: 8.68% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 10
• EPS Forecast (FY): 1.87
• Revenue Forecast (FY): $3.73B

• Rating: 49 Neutral
• Price Target: $14.50 ▼(-2.42% Downside)

The score is held back primarily by weak financial performance (losses, higher leverage, and negative operating/free cash flow). Offsetting factors include a neutral-to-slightly improving technical picture, a high dividend yield (tempered by loss-making earnings), and an earnings call that pairs near-term headwinds with a clear deleveraging and cost-reduction plan.

Positive Factors

Pipeline: new active ingredients growth

Rapid growth in new active ingredients provides durable diversification away from legacy products. A multi-year commercialization path (guide to $300–$400M in 2026 and >$2B by 2035) implies sustained revenue upside and less reliance on any single molecule, improving long-term resilience.

Gross margin resilience

Stable gross margin near 37% indicates underlying product pricing power and cost structure at the manufacturing/COGS level. That resilience gives management room to restore operating profit through SG&A cuts and manufacturing efficiency without needing full price recovery, aiding durable margin recovery.

Concrete liquidity and deleveraging actions

Material quarter-end cash generation and visible net-debt reductions support execution of a >$1B debt-paydown plan and refinancing steps. Improved liquidity and covenant flexibility reduce immediate solvency risk and enable structured asset sales/licensing to restore balance-sheet health over the medium term.

Negative Factors

Negative operating and free cash flow

Negative operating cash flow in the latest year and a multi-year volatile cash conversion profile undermine the company's ability to organically fund capex, debt service and restructuring. This forces reliance on asset sales/licensing and increases refinancing and execution risk over the coming 2–6 months.

High leverage and weakened balance sheet

A rapid rise in leverage and a sharply reduced equity base constrain financial flexibility, raise interest and covenant sensitivity, and limit capacity for strategic investment. Elevated net leverage amplifies the impact of any further earnings weakness and elevates refinancing risk on upcoming maturities.

Core competitiveness and generic pressure

Structural competitiveness problems—high-cost manufacturing footprint and post-patent generic entry on key molecule Rynaxypyr—imply sustained pricing and volume pressure. These issues can depress EBITDA recovery timelines and force ongoing restructuring or margin concessions over multiple quarters.

FMC Business Overview & Revenue Model

Company Description

FMC 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 Money

FMC generates revenue primarily through the sale of its agricultural products, which include crop protection chemicals and specialty solutions. The company operates through various segments, including the Crop Protection segment, which is its largest revenue contributor, offering a diverse portfolio of herbicides, insecticides, and fungicides. Additionally, FMC earns income from its Lithium segment, which supplies lithium compounds for electric vehicle batteries and other applications. Key revenue streams include direct sales to farmers, distributors, and agricultural retailers, along with strategic partnerships with agricultural organizations and collaborations with research institutions to enhance product development. The company's focus on innovation and sustainability also plays a crucial role in attracting customers and driving sales growth, as farmers increasingly seek environmentally friendly solutions to improve crop yields.

FMC Financial Statement Overview

Summary

Financials deteriorated materially: a swing to a large net loss, rising leverage as equity fell (debt-to-equity ~1.94), and negative operating/free cash flow in the latest year. Gross margin stability is a partial offset, but the collapse in operating profitability and cash generation drives elevated risk.

Income Statement

Profitability deteriorated sharply in the latest annual period, with revenue down ~2% and a swing from solid profitability in 2024 to a large net loss in 2025 (net margin deeply negative). While gross margin held roughly stable (~37%), operating performance collapsed (negative EBIT/EBITDA), indicating heavy cost pressure and/or significant charges below the gross profit line. The multi-year pattern shows weakening momentum: revenue has been declining since 2022 and the latest year marks a pronounced break from prior earnings power.

Balance Sheet

Leverage increased meaningfully: debt rose while equity fell sharply in 2025, pushing debt-to-equity to ~1.94 (vs. ~0.78 in 2024). Total assets declined, and the large loss likely pressured the capital base, reducing financial flexibility. The company is not at extreme leverage for the industry, but the rapid deterioration in equity and higher balance-sheet risk are notable concerns.

Cash Flow

Cash generation weakened significantly in 2025, with operating cash flow turning negative and free cash flow also negative, a major reversal versus strong positive free cash flow in 2024. Over the broader period, cash flow has been volatile (notably negative in 2023 as well), which raises questions about working-capital swings and the durability of cash conversion through the cycle. Negative operating cash flow in the most recent year is a clear near-term red flag.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.47B	4.25B	4.49B	5.80B	5.05B
Gross Profit	1.28B	1.58B	1.91B	2.39B	2.19B
EBITDA	-1.71B	737.40M	786.20M	1.30B	1.19B
Net Income	-2.24B	339.90M	1.32B	736.50M	739.60M
Balance Sheet
Total Assets	9.69B	11.65B	11.93B	11.17B	10.67B
Cash, Cash Equivalents and Short-Term Investments	584.50M	357.30M	302.40M	572.00M	516.80M
Total Debt	4.07B	3.50B	4.11B	3.42B	3.34B
Total Liabilities	7.59B	7.14B	7.49B	7.77B	7.53B
Stockholders Equity	2.10B	4.49B	4.41B	3.38B	3.12B
Cash Flow
Free Cash Flow	-80.20M	603.20M	-520.30M	440.10M	720.00M
Operating Cash Flow	-80.20M	671.10M	-386.40M	582.40M	820.10M
Investing Cash Flow	-99.70M	263.60M	-154.40M	-266.40M	-112.00M
Financing Cash Flow	386.00M	-870.10M	331.50M	-237.40M	-747.90M

FMC Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 14.86
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 14.86 is below the 20-day moving average (MA) of 15.47, above the 50-day MA of 14.70, and below the 200-day MA of 28.53, indicating a neutral trend. The MACD of -0.13 indicates Positive momentum. The RSI at 47.63 is Neutral, neither overbought nor oversold. The STOCH value of 45.60 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FMC.

FMC Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CF	79 Outperform	$14.95B	10.68	29.62%	2.56%	12.59%	31.40%
MOS	65 Neutral	$9.34B	7.64	10.00%	3.70%	3.82%	239.39%
SMG	62 Neutral	$4.05B	47.24	―	4.52%	-3.93%	―
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
ICL	60 Neutral	$7.10B	31.41	3.86%	3.36%	1.77%	-8.72%
FMC	49 Neutral	$1.81B	-0.83	-66.80%	16.68%	-13.42%	-136.59%
USBC	41 Neutral	$160.30M	-0.11	-46.59%	―	―	55.04%

FMC Corporate Events

FMC Faces Potential Non-Cash Impairment Charges

FMC Company is facing a significant decrease in its stock price, prompting it to test its goodwill and other intangible assets for impairment as per generally accepted accounting principles. This could lead to a substantial non-cash impairment charge, although it is not expected to affect the company’s cash flows from current or future operations.

The most recent analyst rating on (FMC) stock is a Sell with a $13.00 price target. To see the full list of analyst forecasts on FMC stock, see the FMC Stock Forecast page.

FMC Amends Credit Agreement, Extends Covenant Relief

On December 8, 2025, FMC Corporation and its subsidiaries entered into an amendment to their credit agreement, which modifies financial covenants and extends the covenant relief period to December 31, 2028. The amendment imposes limits on subsidiary indebtedness and dividend increases, and requires maintaining a minimum value of intellectual property, with provisions for asset liens if credit ratings fall below specified levels.

The most recent analyst rating on (FMC) stock is a Sell with a $13.00 price target. To see the full list of analyst forecasts on FMC stock, see the FMC Stock Forecast page.

FMC Board Member Anthony DiSilvestro Resigns

On December 3, 2025, Anthony DiSilvestro resigned from FMC Corporation’s Board of Directors and all its committees due to increased professional commitments and scheduling conflicts after becoming the Chief Financial Officer of Keurig Dr Pepper Inc. on November 25, 2025. FMC expressed gratitude for his service and contributions during his tenure on the Board.

The most recent analyst rating on (FMC) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on FMC stock, see the FMC Stock Forecast page.