FMC (FMC) financial statements
FMC reported revenue of $3.5B in fiscal 2025, up 3.5% a year over 9 years.
Net income was -$2.2B and the operating margin -47.0%, against 10.5% in 2016.
Free cash flow was -$102M, and the company returned $291M in dividends.
The diluted share count fell 7% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from FMC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.5B | $2.5B | $4.3B | $4.6B | $4.6B | $5.0B | $5.8B | $4.5B | $4.2B | $3.5B |
| Cost of revenue | $1.6B | $1.6B | $2.4B | $2.5B | $2.6B | $2.9B | $3.5B | $2.7B | $2.6B | $2.2B |
| Gross profit | $931M | $952M | $1.9B | $2.1B | $2.0B | $2.2B | $2.3B | $1.8B | $1.6B | $1.3B |
| Research and development | $134M | $138M | $288M | $298M | $288M | $305M | $314M | $329M | $278M | $266M |
| Selling, general and admin | $435M | $582M | $790M | $793M | $730M | $714M | $775M | $734M | $645M | $685M |
| Operating income | $267M | $158M | $741M | $822M | $897M | $1.0B | $1.1B | $556M | $506M | -$1.6B |
| Interest expense | $64M | $80M | $134M | $160M | $151M | $131M | $152M | $237M | $236M | $240M |
| Pre-tax income | $181M | $96M | $608M | $655M | $731M | $898M | $984M | $300M | $252M | -$1.9B |
| Income tax | $50M | $229M | $71M | $112M | $151M | $92M | $145M | -$1.1B | -$151M | $314M |
| Net income | $209M | $536M | $502M | $477M | $552M | $740M | $736M | $1.3B | $341M | -$2.2B |
| EPS (diluted) | $1.56 | $3.99 | $3.69 | $3.62 | $4.23 | $5.73 | $5.81 | $10.53 | $2.72 | -$17.88 |
| Diluted shares | 135M | 134M | 136M | 132M | 131M | 129M | 127M | 126M | 125M | 125M |
| Gross margin | 36.7% | 37.6% | 43.9% | 45.2% | 44.1% | 42.8% | 40.1% | 40.8% | 38.8% | 37.0% |
| Operating margin | 10.5% | 6.3% | 17.3% | 17.8% | 19.3% | 20.5% | 19.7% | 12.4% | 11.9% | -47.0% |
| Net margin | 8.2% | 21.2% | 11.7% | 10.4% | 11.9% | 14.7% | 12.7% | 29.5% | 8.0% | -64.6% |
Balance sheet
Fiscal years, from FMC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $64M | $283M | $134M | $339M | $569M | $517M | $572M | $302M | $357M | $584M |
| Receivables | $1.7B | $2.0B | $2.1B | $2.2B | $2.3B | $2.6B | $2.9B | $2.7B | $2.9B | $2.1B |
| Inventory | $479M | $992M | $1.0B | $1.0B | $1.1B | $1.5B | $1.7B | $1.7B | $1.2B | $1.2B |
| Total current assets | $2.8B | $3.7B | $4.0B | $4.1B | $4.4B | $5.1B | $5.4B | $5.1B | $5.0B | $5.0B |
| Property, plant and equipment | $538M | $1.0B | $757M | $758M | $772M | $817M | $850M | $892M | $850M | $707M |
| Goodwill | $499M | $1.2B | $1.5B | $1.5B | $1.5B | $1.5B | $1.6B | $1.6B | $1.5B | $0 |
| Total assets | $6.1B | $9.2B | $10.0B | $9.9B | $10.2B | $10.7B | $11.2B | $11.9B | $11.7B | $9.7B |
| Total current liabilities | $1.4B | $2.2B | $3.0B | $2.7B | $2.8B | $3.5B | $3.8B | $3.4B | $3.0B | $3.8B |
| Long-term debt | $1.8B | $3.0B | $2.1B | $3.0B | $2.9B | $2.7B | $2.7B | $3.0B | $3.0B | $2.8B |
| Total liabilities | $4.1B | $6.5B | $6.8B | $7.2B | $7.1B | $7.5B | $7.8B | $7.5B | $7.1B | $7.6B |
| Shareholders' equity | $2.0B | $2.7B | $3.1B | $2.5B | $3.0B | $3.1B | $3.4B | $4.4B | $4.5B | $2.1B |
| Net debt | $1.8B | $2.9B | $2.6B | $2.9B | $2.7B | $2.7B | $2.7B | $3.7B | $3.0B | $3.5B |
Cash flow
Fiscal years, from FMC's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $369M | $232M | $363M | $556M | $737M | $899M | $660M | -$300M | $737M | -$6M |
| Capital spending | $91M | $38M | $132M | $142M | $114M | $113M | $142M | $134M | $68M | $96M |
| Free cash flow | $278M | $194M | $231M | $414M | $622M | $786M | $518M | -$434M | $669M | -$102M |
| Stock-based compensation | $20M | $21M | $22M | $26M | $19M | $18M | $24M | $26M | $24M | $24M |
| Dividends paid | $89M | $89M | $89M | $210M | $228M | $247M | $268M | $290M | $291M | $291M |
| Share buybacks (net) | -$11M | $0 | -$200M | -$400M | -$50M | -$400M | -$100M | -$75M | $0 | $0 |
| Net borrowing | -$259M | $1.3B | -$472M | $586M | $24M | -$98M | $114M | $699M | -$577M | $709M |
| Free cash flow margin | 10.9% | 7.7% | 5.4% | 9.0% | 13.4% | 15.6% | 8.9% | -9.7% | 15.8% | -3.0% |
| Dividends per share | $0.66 | $0.66 | $0.66 | $1.59 | $1.75 | $1.91 | $2.11 | $2.31 | $2.32 | $2.33 |
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Open FMC in InvestinglyQuestions
What was FMC's revenue in 2025?
$3.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does FMC generate?
-$102M in fiscal 2025 (operating cash flow minus capital spending).
From FMC's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.