# Balchem Corporation (BCPC)

> Source: Nexqual · https://nexqual.com/BCPC · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Balchem Corporation (BCPC), nexqual.com/BCPC" · informational, not investment advice.

**Price:** USD 173.23 (+1.43% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 170.78 · day 170.54–173.43 · 52w 147.18–183.9 · market cap $5.52B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.09B, net income $164M (15.1% margin) (SEC filings).
- Valuation: P/E 33.6x (avg 39.4x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (3 analysts), mean target USD 209.25 (range 165–242).
- Total return with dividends: 1Y +11.2% vs S&P 500 +14.9%; 5Y +14.9% vs S&P 500 +80.3%.
- Next earnings: 2026-10-23, EPS estimate USD 1.54, revenue estimate $289M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $799M | $942M | $922M | $954M | $1.04B | $1.09B |
| Gross profit | $243M | $280M | $302M | $336M | $371M | — |
| Operating income | $128M | $145M | $159M | $183M | $209M | $222M |
| Net income | $96.1M | $105M | $109M | $128M | $155M | $164M |
| EPS (diluted) | $2.94 | $3.25 | $3.35 | $3.93 | $4.75 | — |
| Free cash flow | $124M | $89.5M | — | — | — | — |
| Gross margin | 30.4% | 29.8% | 32.7% | 35.3% | 35.7% | — |
| Operating margin | 16.0% | 15.4% | 17.3% | 19.2% | 20.2% | 20.4% |
| Net margin | 12.0% | 11.2% | 11.8% | 13.5% | 14.9% | 15.1% |
| Revenue growth | +13.6% | +17.9% | -2.1% | +3.4% | +8.8% | — |
| Cash + short-term investments | $103M | $66.6M | $64.4M | $49.5M | $74.6M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 33.6x · P/S 5.1x · P/B 4.2x · Earnings yield 2.98% · Dividend yield (paid, TTM) 0.56% · Buyback yield (TTM) 2.06%
P/E at fiscal year-ends: Dec 2025 32.3x, Dec 2024 41.5x, Dec 2023 44.5x.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 3 analysts; mean target USD 209.25 (low 165, high 242).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-03 | HC Wainwright & Co. | Target raised | Buy | $190 → $215 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +11.2% | +14.9% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +11.2% | +2.8% |
| Volatility (annualized) | 20.3% | 24.0% |
| Max drawdown | -14.7% (Mar 2026→Jun 2026) | -32.0% (Dec 2021→Jun 2022) |

## Peers (Specialty Chemicals)
SXT (Sensient Technologies Corporati) USD 130.94 -0.95% · EMN (Eastman Chemical Company) USD 65.31 +2.85% · AXTA (Axalta Coating Systems Ltd.) USD 35.05 +0.20% · NEU (NewMarket Corp) USD 876.33 -0.98% · ESI (Element Solutions Inc.) USD 33.11 -8.89% · WLK (Westlake Corporation) USD 64.14 +5.42%

## More
Full page: https://nexqual.com/BCPC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in BCPC's own 10-K filed 2026-02-20 (https://www.sec.gov/Archives/edgar/data/9326/000000932626000007/bcpc-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Related party | Gabriel CC Company | "We were engaged in related party transactions with St. Gabriel CC Company, LLC for the years ended December 31, 2025 and December 31, 2024." |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY | Operating income | Op. margin |
|---|---|---|---|---|---|
| Human Nutrition and Health | $176.9M | 62.3% | +10.0% | $42.4M | 24.0% |
| Animal Nutrition and Health | $64.5M | 22.7% | +15.0% | $5.2M | 8.1% |
| Specialty Products | $40.5M | 14.3% | +8.9% | $12.9M | 31.8% |
| Corporate costs (not allocated) | — | — | — | -$1.3M | — |
| Total revenue | $284.0M | 100% | — | $59.2M | 20.9% |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product Sales Revenue | $283.4M | 99.8% | +11.1% |
| Royalty Revenue | $634,000 | 0.2% | +48.8% |
| Total revenue | $284.0M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $205.2M | 72.3% | +9.9% |
| Non-US | $78.8M | 27.7% | +14.6% |
| Total revenue | $284.0M | 100% | — |

## Company outlook (8-K filed 2026-07-31)

- "Ted Harris said, "The Balchem team delivered another strong quarter in Q2 of 2026, and we remain confident in the long-term growth outlook for our company as we continue to execute our strategic growth initiatives." (b) Net debt is defined as the outstanding balance on our revolving loan less cash and cash equivalents."
- "Forward-Looking Statements This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our expectation or belief concerning future events that involve risks and uncertainties."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.53 | $1.50 | +2.0% | $289.2M | 2 |
| Next quarter (ends 2026-12-31) | $1.47 | $1.44 | +2.1% | $287.8M | 2 |
| Current fiscal year (ends 2026-12-31) | $5.84 | $5.68 | +2.7% | $1.13B | 3 |
| Next fiscal year (ends 2027-12-31) | $6.27 | $6.11 | +2.7% | $1.20B | 3 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-10-23): ±5.5%; last 8 reports averaged ±3.3%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 24.2% | ±5.5% |
| 2026-12-18 | 56 | 21.8% | ±6.9% |
| 2027-02-19 | 119 | 21.3% | ±9.7% |
| 2027-05-21 | 210 | 22.2% | ±13.5% |