FMC FMC CORP

Overview and Growth

In fiscal 2025, FMC CORP recorded $3.47B of revenue, net loss of $2.24B, and an operating cash outflow of $6.20M. At $3.47B, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. Revenue was 18.3% below fiscal 2024 revenue of $4.25B, marking a top-line contraction. On a per-share basis, diluted EPS was -$17.88, which connects the reported earnings outcome with the company’s diluted share count. Diluted EPS decreased by 757.4% from $2.72 in fiscal 2024, showing how the earnings change reached shareholders on a per-share basis. The company employed $9.69B of total assets, the balance-sheet base supporting its current operating and cash-flow results. Revenue equaled 0.36x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

After reported cost of revenue, the company retained $1.28B as gross profit before recognizing operating expenses and other items. Gross profit represented 37.0% of revenue, showing how much of the top line remained after direct costs. Operations produced a $1.63B operating loss before non-operating and tax effects. The operating loss equaled 47.0% of revenue, showing the scale of the operating deficit relative to sales. The company ended the period with a net loss of $2.24B, extending the operating result through all remaining items. Measured against revenue, the bottom-line deficit represented 64.6% after all recognized items. The company reported a pretax loss of $1.89B, before the effect of income taxes. Measured against revenue, the pretax deficit represented 54.4%. The reported income-tax provision was $314.20M, the amount recognized between pretax income and the final net-income result. Relative to period-end equity, the net loss represented 106.7%. The net loss equaled 23.1% of period-end assets, showing the deficit relative to the asset base.

Liquidity and Capital Structure

At period end, the $9.69B asset base was financed through $7.59B of liabilities and $2.10B of equity. At period end, current assets of $4.96B compared with current liabilities of $3.76B, defining the company’s short-term resource position. The current ratio was 1.32x, with current assets exceeding current liabilities and providing a short-term liquidity cushion. The company held $584.50M in cash and equivalents, a narrower liquidity measure than total current assets. The cash balance equaled 15.6% of current liabilities, showing how much near-term coverage came from cash alone. The company carried $4.07B of total debt at period end, which frames its leverage and debt-service burden. Debt equaled 1.94x of book equity, describing the relative scale of borrowing and shareholder capital. Relative to total assets, debt measured 42.1%, showing how much of the asset base was matched by borrowing. The liabilities-to-assets relationship was 78.3%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 6.0%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 16.9% lower than fiscal 2024 assets of $11.65B, measuring the company’s own balance-sheet change. Reported equity changed 53.4% from $4.51B in fiscal 2024, placing the current capital base lower year over year.

Cash Flow and Earnings Quality

Cash flow from operations was an outflow of $6.20M, showing that operations absorbed cash during the period. Capital expenditures used $96.30M in addition to the operating cash outflow, increasing the total cash consumed by operations and investment during the period. The company recorded a $102.50M cash deficit after capital spending for the period. Free-cash-flow margin was -3.0%, reflecting a cash deficit equal to 3.0% of revenue after capital spending. The cash deficit after capital spending represented 1.1% of the period-end asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.