The Mosaic Company (MOS) 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

+64.8%

$30.92

vs $18.77 price

Levered DCF

$23.12

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.71

Distress zone

Rating

Overall 3 / 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	14.17×	44.69×	10.15×	4.31×	9.12×	13.07×	-8.04×	23.94×
P/B	0.63×	0.68×	0.96×	1.28×	1.4×	0.91×	0.9×	1.08×
P/S	0.63×	0.71×	0.86×	0.81×	1.2×	1×	0.93×	1.17×
EV / EBITDA	5.09×	7.66×	6.25×	3.23×	5.72×	10.38×	-132.58×	9.04×
Gross margin	15.1%	13.6%	16.1%	30.1%	25.9%	12.3%	10.1%	15.6%
Operating margin	8.7%	5.6%	9.8%	25.0%	20.0%	4.8%	-12.3%	9.7%
Net margin	4.5%	1.6%	8.5%	18.7%	13.2%	7.7%	-12.0%	4.9%
Current ratio	1.32×	1.08×	1.22×	1.18×	1.11×	1.12×	1.43×	1.71×
Debt / equity	0.44×	0.39×	0.33×	0.32×	0.42×	0.5×	0.52×	0.44×
Interest coverage	4.82×	2.7×	7.08×	28.35×	12.7×	1.93×	-5.07×	4.3×
Dividend yield	3.7%	3.4%	3.0%	1.3%	0.7%	0.9%	0.8%	0.3%
Payout ratio	51.9%	154.8%	30.2%	5.5%	6.4%	11.4%	-6.3%	8.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.5%	1.5%	9.5%	29.7%	15.4%	7.0%	-11.6%	4.5%
Return on invested capital	2.3%	1.6%	5.9%	18.7%	9.9%	2.4%	-5.4%	4.5%
Return on assets	2.2%	0.8%	5.1%	15.3%	7.4%	3.4%	-5.5%	2.3%
Free cash flow yield	-7.0%	0.6%	8.5%	17.4%	6.0%	4.7%	-2.1%	4.1%
Earnings yield	7.1%	2.2%	9.8%	23.2%	11.0%	7.6%	-12.9%	4.2%
Enterprise value	$12.6B	$12B	$15.5B	$18.5B	$18.5B	$12.9B	$12.6B	$14.9B
Net debt / EBITDA	2.02×	2.66×	1.47×	0.53×	1.13×	3.36×	-45.15×	2.23×
Cash conversion cycle (days)	118	97	84	98	108	91	97	99