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FMC Corporation (FMC) Stock

FMC Corporation Stock Details, Movements and Public Alerts

FMC Corporation (FMC): The $4B Crop Protection Specialist Navigating Agricultural Headwinds

When farmers need to protect cotton, soybeans, cereals, and specialty crops from pests and diseases, FMC's portfolio of patented insecticides (Rynaxypyr/Cyazypyr diamides) and herbicides provides solutions commanding premium pricing. Yet the stock has collapsed 75% from 2023 highs as agricultural chemical destocking, generic competition, and weak crop prices created a perfect storm. New CEO Mark Douglas, who succeeded Pierre Brondeau in 2024, inherits a company restructuring through $150M cost cuts while defending $400M+ annual R&D investment in the biologicals and precision agriculture future. Trading at 10x depressed earnings with a 4%+ dividend yield, FMC offers deep value if agricultural markets normalize—but the timing remains uncertain. The company's diamide insecticides face patent expirations enabling generic competition, while Corteva, BASF, Syngenta, and Bayer maintain superior scale. FMC's pure-play crop protection focus creates concentration risk that diversified peers avoid.

52-Week Range

$54.50 - $12.17

-75.93% from high · +7.81% from low

Avg Daily Volume

6,809,469

Latest volume

Fundamentals

Valuation Metrics

P/E Ratio (TTM)

N/A

Forward P/E

5.84

PEG Ratio

1.08

Reasonably valued

Price to Book

0.45

EV/EBITDA

32.71

EPS (TTM)

-$3.92

Price to Sales

0.48

Beta

0.66

Less volatile than market

How is FMC valued relative to its earnings and growth?
Valuation data is not available for this stock.
What is FMC's risk profile compared to the market?
With a beta of 0.66, FMC Corporation is less volatile than the overall market. This means when the market moves up or down by 10%, this stock typically moves less than 10% in the same direction. Lower beta stocks are often preferred by conservative investors seeking stability. The price-to-book ratio of 0.45 indicates the stock trades below its accounting value, which could signal value or distress.

Performance & Growth

Profit Margin

-14.80%

Operating Margin

-18.80%

EBITDA

$515.50M

Return on Equity

-11.50%

Return on Assets

1.76%

Revenue Growth (YoY)

-49.10%

Earnings Growth (YoY)

-77.60%

How profitable and efficient is FMC's business model?
FMC Corporation achieves a profit margin of -14.80%, meaning it retains $-14.80 from every $100 in revenue after all expenses. This relatively low margin suggests the company operates in a competitive environment or high-cost industry where profitability is challenging. The operating margin of -18.80% reveals how efficiently the company runs its core business operations before interest and taxes. With ROE at -11.50% and ROA at 1.76%, the company achieves moderate returns on invested capital.
What are FMC's recent growth trends?
FMC Corporation's revenue declined by 49.10% year-over-year, indicating challenges in maintaining sales momentum. This contraction may reflect market headwinds, competitive pressures, or strategic transitions. Earnings decreased by 77.60% year-over-year, reflecting the bottom-line impact of business performance. These growth metrics should be evaluated against AGRICULTURAL INPUTS industry averages for proper context.

Dividend Information

Dividend Per Share

$2.32

Dividend Yield

17.00%

Ex-Dividend Date

Sep 30, 2025

Dividend Date

Oct 16, 2025

What dividend income can investors expect from FMC?
FMC Corporation offers a dividend yield of 17.00%, paying $2.32 per share annually. This high yield exceeds 4%, significantly outperforming the S&P 500 average of 1.5-2% and most investment-grade bonds. For income-focused investors, this represents an attractive cash flow opportunity, though high yields sometimes signal market concerns about sustainability. To receive the next dividend, shares must be purchased before the ex-dividend date of Sep 30, 2025.
How reliable is FMC's dividend for long-term investors?
The dividend sustainability can be assessed through the payout ratio - FMC Corporation pays $2.32 per share in dividends against earnings of -$3.92 per share, resulting in a payout ratio of -59.18%. This conservative payout below 30% indicates excellent dividend safety with substantial room for future increases. The company retains most earnings for growth while still rewarding shareholders. The next dividend payment is scheduled for Oct 16, 2025.

Company Size & Market

Market Cap

$1.7B

Revenue (TTM)

$3.61B

Revenue/Share (TTM)

$28.84

Shares Outstanding

124.92M

Book Value/Share

$30.21

Asset Type

Common Stock

What is FMC's market capitalization and position?
FMC Corporation has a market capitalization of $1.7B, classifying it as a small-cap stock (under $2B). Small-caps offer significant growth potential but come with higher volatility and risk. They can be more sensitive to economic conditions but may provide outsized returns if successful. With 124.92M shares outstanding, the company's ownership is relatively concentrated. As a participant in the AGRICULTURAL INPUTS industry, it competes with other firms in this sector.
How does FMC's price compare to its book value?
FMC Corporation's book value per share is $30.21, while the current stock price is $13.12, resulting in a price-to-book (P/B) ratio of 0.43. Trading below book value can indicate the market perceives challenges ahead, or it might represent a value opportunity if the assets are quality and earnings can recover. Value investors often screen for P/B ratios below 1.0. As a common stock, this represents equity ownership with voting rights.

Analyst Ratings

Analyst Target Price

$24.75

88.64% upside potential

Analyst Recommendations

Strong Buy

0

Buy

6

Hold

14

Sell

0

Strong Sell

0

How reliable are analyst predictions for FMC?
20 analysts cover FMC with 30% recommending buy/strong buy ratings. Analyst predictions have mixed reliability - studies show consensus rarely beats market returns consistently. The mixed views reflect uncertainty about the outlook. The consensus target of $24.75 implies 88.6% upside, but targets are often adjusted to follow price moves rather than predict them.
What is the Wall Street consensus on FMC?
Current analyst recommendations:06 Buy, 14 Hold, 00The neutral stance suggests uncertainty or fair valuation at current levels.Remember that analyst opinions often lag price movements and can be influenced by investment banking relationships.

Fundamentals last updated: Dec 13, 2025, 08:27 AM

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FMC Corporation (FMC) Stock Analysis 2025: Agricultural Chemicals Investment Guide

The Agricultural Chemicals Cyclical Trough

FMC Corporation has experienced one of the most dramatic collapses in agricultural chemicals history. After peaking near $130 in early 2023, the stock fell below $50 as multiple headwinds converged: channel destocking after pandemic-era inventory builds, generic competition to key products, and weak agricultural commodity prices reducing farmer spending. New CEO Mark Douglas faces the challenge of stabilizing a business that has seen revenue decline 20%+ from peak levels.

The company's core strength—proprietary diamide insecticides including Rynaxypyr and Cyazypyr—faces the dual threat of patent expirations and growing generic competition in key markets. These products once commanded premium pricing; now FMC must defend market share against lower-cost alternatives while investing $400M+ annually in R&D to build the next generation of biologicals and precision agriculture solutions. The transition from a growth company to a turnaround story has been painful for shareholders.

Business Model & Competitive Position

FMC operates as a pure-play crop protection company—unique among major agricultural chemical peers who also sell seeds (Corteva, Bayer) or diversified chemicals (BASF). Products include insecticides (55% of revenue, led by diamides), herbicides (35%, Authority brands), and fungicides/biologicals (10%, fastest-growing). Geographic exposure spans North America (30%), Latin America (35%), Asia (20%), and EMEA (15%).

Competitive positioning has weakened as patent protection erodes. The diamide insecticides that drove FMC's outperformance are now facing generic competition in major markets. FMC's response involves biologicals (biological pesticides from natural origins) and precision agriculture (digital application optimization), but these nascent businesses cannot yet compensate for mature product declines. The company's smaller scale versus Corteva, Syngenta, BASF, and Bayer limits R&D leverage and distribution reach.

Financial Performance

  • •Revenue: $4.5B declining from $5.8B peak as destocking and price pressure impact volumes
  • •Profitability: EBITDA margins compressed to 22% from 28%+ during peak; targeting recovery to 25%+
  • •Cash Flow: Free cash flow generation impaired by inventory normalization and restructuring costs
  • •Cost Reduction: $150M restructuring program targeting 2025 completion with workforce reduction
  • •R&D Investment: Maintaining $400M+ annual R&D (9% of sales) despite downturn for pipeline protection
  • •Balance Sheet: $3.5B debt with leverage elevated at 4x+ EBITDA; investment-grade rating under pressure

Growth Catalysts

  • •Destocking Completion: Channel inventory normalization should complete 2025, enabling organic growth resumption
  • •Biologicals Growth: $500M+ biologicals revenue growing 15%+ with higher margins than synthetic chemicals
  • •Latin America Strength: Brazil and Argentina exposure benefits from agricultural export demand
  • •New Product Launches: Pipeline includes novel herbicides and insecticides targeting resistant pests
  • •Margin Recovery: Cost restructuring and pricing normalization targeting 25%+ EBITDA margins

Risks & Challenges

  • •Generic Competition: Diamide patent expirations enabling low-cost alternatives in major markets
  • •Agricultural Commodity Weakness: Low corn, soybean, wheat prices reduce farmer spending on crop protection
  • •Leverage Concerns: 4x+ debt/EBITDA limits flexibility; potential dividend cut if conditions worsen
  • •Scale Disadvantage: Pure-play focus creates concentration risk versus diversified competitors
  • •Regulatory Uncertainty: European pesticide restrictions potentially spreading to other markets

Competitive Landscape

FMC competes with agricultural giants: Corteva (DuPont spinoff, $17B revenue), Syngenta (ChemChina, $33B), BASF Agricultural Solutions ($10B), and Bayer Crop Science ($25B). These competitors benefit from seed/trait integration and broader chemical portfolios. FMC's smaller scale ($4.5B) limits pricing power against generics and requires focused R&D prioritization rather than broad coverage.

Mark Douglas's strategy emphasizes differentiated products (biologicals, precision agriculture) where FMC can compete on innovation rather than scale. The company has divested non-core businesses and acquired biologicals platforms to build the next-generation portfolio. However, the transition period leaves FMC vulnerable—mature products face generic pressure while new products haven't achieved scale. Success requires surviving the trough with sufficient R&D investment to emerge competitive.

Who Is This Stock Suitable For?

Perfect For

  • ✓Deep value investors comfortable with cyclical trough timing risk
  • ✓Contrarian buyers believing agricultural destocking will normalize
  • ✓Income investors accepting elevated dividend risk for 4%+ yield
  • ✓Turnaround specialists betting on new management execution

Less Suitable For

  • ✗Conservative investors (75% stock decline indicates significant business challenges)
  • ✗Dividend safety seekers (payout ratio elevated, cut risk exists)
  • ✗Growth investors (mature products declining, new products not yet scaling)
  • ✗ESG-focused investors (pesticide business faces regulatory headwinds)

Investment Thesis

FMC Corporation presents a classic deep value/turnaround proposition. The 75% stock decline has created a 10x P/E and 4%+ dividend yield, pricing in significant further deterioration. If agricultural markets normalize—destocking completes, commodity prices stabilize, generic pressure moderates—FMC could see meaningful earnings recovery and multiple expansion. Mark Douglas's restructuring addresses costs while protecting R&D for long-term competitiveness.

However, value traps exist for reasons. The diamide patent cliff is real and permanent. Agricultural commodity cycles can extend years. FMC's smaller scale limits competitive positioning against giants with seed/chemical integration. The dividend may not be sustainable if conditions worsen. FMC suits investors with high conviction on agricultural recovery timing and tolerance for continued volatility. Conservative investors should avoid until clearer evidence of stabilization emerges.

Conclusion

FMC is a SPECULATIVE BUY for contrarian investors with agricultural sector conviction and patience for multi-year turnaround. The 10x P/E prices in significant risk, but timing remains uncertain and dividend sustainability questionable. Mark Douglas must execute restructuring while defending against generic competition—success is possible but far from guaranteed. Conservative investors should avoid; deep value specialists may find opportunity amid distress.
Bull Case
$65 (30% upside) - Destocking completes, margins recover to 25%, multiple to 14x
Base Case
$52 (4% upside) - Gradual stabilization, cost savings realized, 11x multiple
Bear Case
$35 (30% downside) - Agricultural weakness persists, dividend cut, generic pressure intensifies

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