Fmc Corp. (FMC)
NYSE:FMC
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FMC
(NYSE:FMC)
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Rating:49Neutral
Price Target:
$17.50
▼(-1.41% Downside)
Action:ReiteratedDate:02/10/26
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
New active ingredient growth
Rapid growth in new active ingredients shows FMC is diversifying revenue beyond legacy products and building a durable pipeline. If execution and registrations hold, this expands higher-margin, differentiated sales over years and supports management’s mid‑teens EBITDA growth target for 2027–28.
Negative Factors
Leverage deterioration
Rapid rise in leverage and a sharply eroded equity base reduce balance-sheet resilience. Higher leverage raises interest and refinancing risk (notably a $500m bond maturity) and constrains strategic optionality until material debt paydown is achieved and equity cushions rebuild.
Read all positive and negative factors
Positive Factors
Negative Factors
New active ingredient growth
Rapid growth in new active ingredients shows FMC is diversifying revenue beyond legacy products and building a durable pipeline. If execution and registrations hold, this expands higher-margin, differentiated sales over years and supports management’s mid‑teens EBITDA growth target for 2027–28.
Read all positive factors
FMC (FMC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.15B
Dividend Yield16.68%
Average Volume (3M)3.87M
Price to Earnings (P/E)―
Beta (1Y)1.06
Revenue Growth-13.42%
EPS Growth-136.59%
CountryUS
Employees5,700
SectorBasic Materials
Sector Strength58
IndustryAgricultural Inputs
Share Statistics
EPS (TTM)1.20
Shares Outstanding125,045,040
10 Day Avg. Volume4,927,061
30 Day Avg. Volume3,874,515
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 Cap2.68
Enterprise Value/Revenue1.66
Enterprise Value/Gross Profit4.49
Enterprise Value/Ebitda-67.68
Forecast
1Y Price Target
$15.17Price Target Upside-14.54% Downside
Rating ConsensusHold
Number of Analyst Covering10
EPS Forecast (FY)1.77
Revenue Forecast (FY)$3.70B
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 fun...
How the Company Makes Money
FMC primarily makes money by selling branded crop protection products to the agricultural sector. Its revenue model is product-driven: the company generates sales by marketing and distributing formulations (e.g., insecticides, herbicides, fungicid...
FMC Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyFMC Earnings Call Summary
Earnings Call Date:Feb 04, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 29, 2026
Earnings Call Sentiment Neutral
The call balances clear operational progress and strategic actions (debt-reduction plan, strong Q4 cash generation, accelerating new active ingredients and an actionable manufacturing-cost reduction target) against material near-term headwinds (declining 2026 revenue guidance, a sharply weaker Q1 EBITDA and low Q1 margin, core portfolio competitiveness issues, negative FY2025 free cash flow, and broad generic pressure on Rynaxypyr). Management presented a concrete multi-year plan and initiated a strategic review to maximize shareholder value, but 2026 is positioned as a challenging transition year.Positive Updates
Strategic Review and Potential Sale
Board authorized a formal strategic review including potential sale of the company; financial and legal advisers retained. This process runs in parallel with operational execution to maximize shareholder value.
Negative Updates
Full-Year 2026 Revenue and EBITDA Guidance Down
2026 full-year sales guidance of $3.6–$3.8 billion, which is down ~5% at the midpoint versus prior year. Full-year adjusted EBITDA guided to $670–$730 million (below prior-year levels).
Read all updates
Q4-2025 Updates
Positive
Negative
Strategic Review and Potential Sale
Board authorized a formal strategic review including potential sale of the company; financial and legal advisers retained. This process runs in parallel with operational execution to maximize shareholder value.
Read all positive updates
Company Guidance
FMC’s 2026 guidance calls for full‑year sales of $3.6–$3.8 billion (about a 5% decline at the midpoint) with price a mid‑single‑digit headwind and the removal of India a ~2% full‑year (first‑half concentrated) drag; full‑year adjusted EBITDA is guided to $670–$730 million. First‑quarter sales are guided to $725–$775 million (‑5% YoY) with adjusted EBITDA $45–$50 million (‑58% YoY) and an abnormally low EBITDA margin of ~7% driven by unfavorable Q1 manufacturing costs and ~$20 million of tariffs (mostly booked in Q1). FMC is targeting >$1 billion of debt paydown via asset sales and licensing (India sale with binding bids expected in Q2), expects 2026 free cash flow of –$65 million to +$65 million (breakeven at midpoint) including $130 million of restructuring spend, and projects net debt of ~$3.5 billion at year‑end down from Q3 (net leverage ~4.1x TTM EBITDA, covenant leverage 4.6x vs. a 6.0x covenant through 2026) with an expected ~0.5‑turn leverage reduction in 2026. Operational priorities include lowering manufacturing costs for the $2.2 billion core (ex‑Rynaxypyr) portfolio — nearly $1 billion of which is from high‑cost facilities — by at least 35% by 2027, executing a post‑patent Rynaxypyr strategy (2025 Rynaxypyr sales ~>$800 million; branded Rynaxypyr earnings expected flat in 2026), and growing new active ingredients (sales rose to ~$200 million in 2025 from ~$130 million in 2024, with 2026 forecast $300–$400 million and >$2 billion by 2035), positioning the company for mid‑teens EBITDA growth in 2027–2028.FMC Financial Statement Overview
Summary
Income Statement
28
Negative
Balance Sheet
35
Negative
Cash Flow
22
Negative
| 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 | -84.70M | 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 | 4.20B | 3.50B | 4.11B | 3.42B | 3.34B |
| Total Liabilities | 7.59B | 7.14B | 7.49B | 7.77B | 7.53B |
| Stockholders Equity | 2.07B | 4.49B | 4.41B | 3.38B | 3.12B |
Cash Flow | |||||
| Free Cash Flow | -176.50M | 603.20M | -520.30M | 440.10M | 720.00M |
| Operating Cash Flow | -80.20M | 671.10M | -386.40M | 582.40M | 820.10M |
| Investing Cash Flow | -108.30M | 263.60M | -154.40M | -266.40M | -112.00M |
| Financing Cash Flow | 394.60M | -870.10M | 331.50M | -237.40M | -747.90M |
FMC Technical Analysis
Positive
17.75
Price Trends
14.95
Positive
14.36
Positive
24.72
Negative
Market Momentum
0.70
Negative
70.66
Negative
97.67
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FMC, the sentiment is Positive. The current price of 17.75 is above the 20-day moving average (MA) of 14.89, above the 50-day MA of 14.95, and below the 200-day MA of 24.72, indicating a neutral trend. The MACD of 0.70 indicates Negative momentum. The RSI at 70.66 is Negative, neither overbought nor oversold. The STOCH value of 97.67 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FMC.
FMC Risk Analysis
FMC disclosed 46 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 (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $20.12B | 8.62 | 29.95% | 2.56% | 12.59% | 31.40% | |
68 Neutral | $8.42B | 14.14 | 9.96% | 3.70% | 3.82% | 239.39% | |
62 Neutral | $3.80B | -6.71 | -27.23% | 4.52% | -3.93% | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
59 Neutral | $6.79B | 32.61 | 3.77% | 3.36% | 1.77% | -8.72% | |
49 Neutral | $2.15B | -0.78 | -61.24% | 16.68% | -13.42% | -136.59% | |
44 Neutral | $130.69M | -2.24 | -46.59% | ― | ― | 55.04% |
* Basic Materials Sector Average
FMC
FMC
17.21
-16.57
-49.05%
CF
Cf Industries Holdings
130.98
60.58
86.04%
MOS
Mosaic Co
26.51
3.64
15.94%
SMG
Scotts Miracle-Gro Company
65.42
15.25
30.39%
ICL
Icl
5.26
-0.10
-1.88%
USBC
USBC
0.34
-0.21
-38.91%
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.