# FMC Corporation (FMC)

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

**Price:** USD 5.02 (-0.20% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 5.03 · day 4.8–5.15 · 52w 4.8–30.95 · market cap $781M · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $3.25B, net income -$2.76B (-84.8% margin), free cash flow $163M (SEC filings).
- 1 of 80 tracked superinvestors hold FMC (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Analysts: Hold (mean 3.00 on a 1–5 scale) (17 analysts), mean target USD 8.71 (range 4–18).
- Total return with dividends: 1Y -83.0% vs S&P 500 +14.9%; 5Y -93.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-29, EPS estimate USD 0.08, revenue estimate $317M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.05B | $5.80B | $4.49B | $4.25B | $3.47B | $3.25B |
| Gross profit | $2.16B | $2.33B | $1.83B | $1.65B | $1.28B | — |
| Operating income | $1.03B | $1.14B | $556M | $507M | -$1.63B | -$2.01B |
| Net income | $740M | $737M | $1.32B | $341M | -$2.24B | -$2.76B |
| EPS (diluted) | $5.73 | $5.81 | $10.53 | $2.72 | -$17.88 | — |
| Free cash flow | $799M | $518M | -$434M | $669M | -$103M | $163M |
| Gross margin | 42.8% | 40.1% | 40.8% | 38.8% | 37.0% | — |
| Operating margin | 20.5% | 19.7% | 12.4% | 11.9% | -47.0% | -61.9% |
| Net margin | 14.7% | 12.7% | 29.5% | 8.0% | -64.6% | -84.8% |
| Revenue growth | +8.7% | +15.0% | -22.7% | -5.4% | -18.3% | — |
| Cash + short-term investments | $517M | $572M | $302M | $357M | $585M | — |
| Total debt | $2.82B | $2.82B | $3.12B | $3.10B | $3.36B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.2x · EV/Sales 1.3x · P/FCF 4.8x · P/B 0.5x · FCF yield 20.93% · Earnings yield -353.21% · Dividend yield (paid, TTM) 21.26% · Net debt $3.49B · EV $4.27B
P/E at fiscal year-ends: Dec 2024 17.9x, Dec 2023 6.0x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold FMC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Tweedy Browne |  | 0.04% | $505K | Added +42.3% |

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 17 analysts; mean target USD 8.71 (low 4, high 18).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-19 | Citigroup | Target lowered | Neutral | $12 → $6 |
| 2026-10-16 | Barclays | Target lowered | Underweight | $9 → $4 |
| 2026-10-16 | BMO Capital | Target lowered | Market Perform | $11 → $7.5 |
| 2026-10-16 | Jefferies | Downgrade | Buy → Hold | $14 → $5 |
| 2026-10-15 | RBC Capital | Target lowered | Sector Perform | $11 → $9 |
| 2026-10-13 | Mizuho | Target lowered | Outperform | $15 → $12 |
| 2026-10-05 | UBS | Target lowered | Neutral | $12 → $10 |
| 2026-09-11 | Keybanc | Initiated | Overweight | $16 |
| 2026-08-03 | RBC Capital | Target lowered | Sector Perform | $12 → $11 |
| 2026-07-31 | Citigroup | Target lowered | Neutral | $14 → $12 |
| 2026-07-31 | JP Morgan | Target lowered | Neutral | $16 → $12 |
| 2026-07-31 | Morgan Stanley | Target lowered | Equal-Weight | $15.5 → $12 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -83.0% | -93.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -83.1% | -42.3% |
| Volatility (annualized) | 94.4% | 57.4% |
| Max drawdown | -83.2% (Oct 2025→Oct 2026) | -95.8% (Apr 2022→Oct 2026) |

## Peers (Agricultural Inputs)
IPI (Intrepid Potash, Inc) USD 30.77 -1.38% · SMG (Scotts Miracle-Gro Company (The) USD 59.15 +5.76% · MOS (Mosaic Company (The)) USD 17.27 -2.32% · CTVA (Corteva, Inc.) USD 12.86 +1.10% · CF (CF Industries Holdings, Inc.) USD 118.56 +1.94% · NTR (Nutrien Ltd.) USD 69.09 +1.42%

## More
Full page: https://nexqual.com/FMC · 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

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Insecticides | $423.5M | 48.8% | -19.4% |
| Herbicides | $318.2M | 36.7% | -15.4% |
| Fungicides | $88.4M | 10.2% | +10.0% |
| Plant Health | $36.3M | 4.2% | -19.2% |
| Other | $700,000 | 0.1% | -97.1% |
| Total revenue | $867.1M | 100% | — |

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

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Latin America | $277.9M | 32.0% | -10.5% |
| North America | $248.8M | 28.7% | -22.5% |
| Europe, Middle East & Africa (EMEA) | $214.1M | 24.7% | -17.8% |
| Asia | $126.3M | 14.6% | -20.5% |
| Total revenue | $867.1M | 100% | — |

## Company outlook (8-K filed 2026-10-15)

- "Revenue 1 is now expected to be between $65 million and $125 million with expected Adjusted EBITDA 2 of negative $565 million to negative $510 million."
- "The company will provide more information regarding its quarter results and its 2026 financial outlook when it reports third-quarter earnings on October 29, 2026."
- "In addition, the company will share its preliminary expectations for 2027 and 2028 on its earnings call on October 30, 2026."
- "Page 4/ FMC Corporation Provides Update to Third-Quarter Expectations and Announces Comprehensive Commercial Actions to Expedite Return to Growth This press release contains certain "non-GAAP financial terms" which are defined on our website www.fmc.com/investors."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.08 | $0.63 | -87.9% | $317.0M | 8 |
| Next quarter (ends 2026-12-31) | $0.94 | $0.99 | -4.9% | $1.05B | 11 |
| Current fiscal year (ends 2026-12-31) | $1.20 | $1.66 | -27.6% | $3.26B | 9 |
| Next fiscal year (ends 2027-12-31) | $1.39 | $2.02 | -31.0% | $3.53B | 11 |