FMC Corporation (FMC) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-353.1%

-$16.12

vs $6.37 price

Levered DCF

-$26.10

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.58

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-0.78×	17.81×	6×	21.41×	19.11×	27.11×	27.42×	17.14×
P/B	0.84×	1.35×	1.79×	4.65×	4.52×	5.03×	5.15×	2.76×
P/S	0.5×	1.43×	1.76×	2.71×	2.8×	3.21×	2.83×	2.01×
EV / EBITDA	-63.17×	13.9×	14.9×	14.28×	14.16×	17.08×	16.76×	12.54×
Gross margin	37.0%	37.1%	42.5%	41.1%	43.3%	44.5%	43.2%	44.8%
Operating margin	-54.4%	15.4%	18.7%	22.2%	23.1%	24.1%	21.2%	21.9%
Net margin	-64.6%	8.0%	29.4%	12.7%	14.7%	11.9%	10.4%	11.7%
Current ratio	1.32×	1.64×	1.52×	1.43×	1.44×	1.55×	1.5×	1.35×
Debt / equity	2.03×	0.78×	0.93×	1.01×	1.07×	1.16×	1.36×	0.88×
Interest coverage	-1.16×	2.78×	3.53×	8.5×	8.9×	7.41×	6.09×	6.97×
Dividend yield	16.8%	4.8%	3.7%	1.7%	1.8%	1.5%	1.6%	1.0%
Payout ratio	-13.0%	85.5%	22.0%	36.3%	33.4%	41.4%	44.1%	17.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-108.1%	7.6%	29.9%	21.8%	23.7%	18.7%	18.9%	16.1%
Return on invested capital	-26.0%	7.3%	8.8%	13.9%	13.7%	11.5%	10.9%	11.0%
Return on assets	-23.1%	2.9%	11.1%	6.6%	6.9%	5.4%	4.8%	5.0%
Free cash flow yield	-10.2%	9.9%	-6.6%	2.8%	5.1%	3.9%	3.0%	2.5%
Earnings yield	-128.9%	5.6%	16.7%	4.7%	5.2%	3.7%	3.7%	5.8%
Enterprise value	$5.4B	$9.2B	$11.7B	$18.6B	$16.9B	$17.8B	$16.2B	$11.2B
Net debt / EBITDA	-42.67×	4.74×	4.84×	2.19×	2.36×	2.76×	3.23×	2.89×
Cash conversion cycle (days)	292	331	398	234	253	220	211	247