Mosaic (MOS) financial statements
Mosaic reported revenue of $12.1B in fiscal 2025, up 6.0% a year over 9 years.
Net income was $541M and the operating margin 6.8%, against 4.5% in 2016.
Free cash flow was -$535M, and the company returned $280M in dividends.
The diluted share count fell 9% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Mosaic's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.2B | $7.4B | $9.6B | $8.9B | $8.7B | $12.4B | $19.1B | $13.7B | $11.1B | $12.1B |
| Cost of revenue | $6.4B | $6.6B | $8.1B | $8.0B | $7.6B | $9.2B | $13.4B | $11.5B | $9.6B | $10.2B |
| Gross profit | $810M | $843M | $1.5B | $897M | $1.1B | $3.2B | $5.8B | $2.2B | $1.5B | $1.9B |
| Selling, general and admin | $304M | $301M | $341M | $354M | $372M | $430M | $498M | $500M | $497M | $534M |
| Operating income | $319M | $466M | $928M | -$1.1B | $413M | $2.5B | $4.8B | $1.3B | $622M | $822M |
| Interest expense | $141M | $171M | $216M | $216M | $214M | $194M | $169M | $189M | $230M | $242M |
| Pre-tax income | $242M | $374M | $552M | -$1.3B | $181M | $2.2B | $4.6B | $1.3B | $315M | $1.2B |
| Income tax | -$74M | $495M | $77M | -$225M | -$578M | $598M | $1.2B | $177M | $187M | $640M |
| Net income | $298M | -$107M | $470M | -$1.1B | $666M | $1.6B | $3.6B | $1.2B | $175M | $541M |
| EPS (diluted) | $0.85 | -$0.31 | $1.22 | -$2.78 | $1.75 | $4.27 | $10.06 | $3.50 | $0.55 | $1.70 |
| Diluted shares | 352M | 351M | 386M | 384M | 381M | 382M | 356M | 333M | 321M | 319M |
| Gross margin | 11.3% | 11.4% | 15.6% | 10.1% | 12.3% | 25.9% | 30.1% | 16.1% | 13.6% | 15.8% |
| Operating margin | 4.5% | 6.3% | 9.7% | -12.3% | 4.8% | 20.0% | 25.0% | 9.8% | 5.6% | 6.8% |
| Net margin | 4.2% | -1.4% | 4.9% | -12.0% | 7.7% | 13.2% | 18.7% | 8.5% | 1.6% | 4.5% |
Balance sheet
Fiscal years, from Mosaic's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $673M | $2.2B | $848M | $519M | $574M | $770M | $735M | $349M | $273M | $277M |
| Receivables | $628M | $643M | $838M | $804M | $881M | $1.5B | $1.7B | $1.3B | $1.1B | $1.1B |
| Inventory | $1.4B | $1.5B | $2.3B | $2.1B | $1.7B | $2.7B | $3.5B | $2.5B | $2.5B | $3.4B |
| Total current assets | $3.1B | $4.6B | $4.2B | $3.7B | $3.5B | $5.3B | $6.6B | $4.7B | $4.5B | $5.2B |
| Property, plant and equipment | $9.2B | $9.7B | $11.7B | $11.7B | $11.9B | $12.5B | $12.7B | $13.6B | $13.4B | $14.0B |
| Goodwill | $1.6B | $1.7B | $1.7B | $1.2B | $1.2B | $1.2B | $1.1B | $1.1B | $1.1B | $1.0B |
| Total assets | $16.8B | $18.6B | $20.1B | $19.3B | $19.8B | $22.0B | $23.4B | $23.0B | $22.9B | $24.5B |
| Total current liabilities | $1.5B | $2.0B | $2.5B | $2.6B | $3.1B | $4.8B | $5.5B | $3.9B | $4.2B | $4.0B |
| Long-term debt | $3.8B | $4.9B | $4.5B | $4.5B | $4.1B | $3.4B | $2.4B | $3.2B | $3.3B | $4.3B |
| Total liabilities | $7.2B | $9.0B | $9.5B | $9.9B | $10.0B | $11.3B | $11.2B | $10.6B | $11.3B | $12.2B |
| Shareholders' equity | $9.6B | $9.6B | $10.4B | $9.2B | $9.6B | $10.6B | $12.1B | $12.3B | $11.5B | $12.1B |
| Net debt | $3.1B | $2.7B | $3.6B | $4.0B | $3.5B | $2.6B | $1.7B | $2.9B | $3.1B | $4.0B |
Cash flow
Fiscal years, from Mosaic's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.3B | $936M | $1.4B | $1.1B | $1.6B | $2.2B | $3.9B | $2.4B | $1.3B | $825M |
| Capital spending | $843M | $820M | $954M | $1.3B | $1.2B | $1.3B | $1.2B | $1.4B | $1.3B | $1.4B |
| Free cash flow | $417M | $115M | $455M | -$177M | $412M | $898M | $2.7B | $1.0B | $47M | -$535M |
| Stock-based compensation | $30M | $28M | $28M | $28M | $18M | $30M | $28M | $33M | $32M | $31M |
| Dividends paid | $385M | $211M | $38M | $67M | $76M | $104M | $198M | $352M | $271M | $280M |
| Share buybacks (net) | -$75M | $0 | $0 | -$150M | $0 | -$411M | -$1.7B | -$756M | -$235M | $0 |
| Net borrowing | -$49M | $1.1B | -$764M | -$48M | -$62M | -$608M | -$610M | -$95M | $3M | $831M |
| Free cash flow margin | 5.8% | 1.6% | 4.7% | -2.0% | 4.7% | 7.3% | 14.1% | 7.3% | 0.4% | -4.4% |
| Dividends per share | $1.09 | $0.60 | $0.10 | $0.18 | $0.20 | $0.27 | $0.56 | $1.06 | $0.84 | $0.88 |
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Open MOS in InvestinglyQuestions
What was Mosaic's revenue in 2025?
$12.1B in fiscal 2025, from its 10-K filing.
How much free cash flow does Mosaic generate?
-$535M in fiscal 2025 (operating cash flow minus capital spending).
From Mosaic's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.