FMC CORP

10-K & 10-Q Filings

FMC Corporation is a global agricultural sciences company based in Philadelphia, Pennsylvania, with its principal executive offices at 2929 Walnut Street, Philadelphia, Pennsylvania 19104. The company was incorporated in 1928 under Delaware law and specializes in helping growers produce food, feed, fiber, and fuel for an expanding world population while adapting to a changing environment. FMC's business strategy is to be a tier-one leader and the fifth largest global innovator in the agrochemicals/crop protection market, with a strong competitive position driven by technology and innovation, geographic balance, and crop diversity. The company's portfolio consists of insecticides, herbicides, and fungicides, with a growing portfolio of fungicides mainly used in high value crop segments. FMC has its own sales and marketing organizations and accesses the market through a combination of distributors, retailers, co-ops, and direct sales to large growers in select countries. The company invests in innovation to extend product life cycles and acquires and develops technologies to strengthen its product portfolio and capabilities. FMC's website is www.fmc.com, and its common stock is traded on the New York Stock Exchange under the ticker symbol "FMC." The company's principal products, raw materials, and uses are detailed in the text, along with financial information about its business. The agrochemicals industry is more consolidated following several mergers, with FMC among the leading agrochemical producers in the world. The company's growth strategy includes obtaining new and improved uses for existing product lines, acquiring complementary chemistries and technologies, and developing environmentally compatible and sustainable solutions. FMC's diamide insect control products based on Rynaxypyr® (Chlorantraniliprole) and Cyazypyr® (Cyantraniliprole) active ingredients have a substantial patent estate which will remain in force well into the future. The company owns and licenses a significant number of U.S. and foreign patents, trademarks, trade secrets, and other intellectual property that are cumulatively important to its business. The seasonal nature of the crop protection market and the geographic spread of FMC's business can result in significant variations in quarterly earnings among geographic locations. The company competes primarily in the global crop protection market for insecticides, herbicides, and fungicides, and focuses on product development, including novel formulations, proprietary mixes, and advanced delivery systems, to differentiate itself from competitors. FMC employs approximately 6,600 people and is committed to providing innovative solutions that increase the productivity and resilience of farmers' land. The company's commitment to diversity, equity, and inclusion includes investments in external partnerships, community outreach, and education programs.

12 mos ending Dec 31, 201112 mos ending Dec 31, 201212 mos ending Dec 31, 201312 mos ending Dec 31, 201412 mos ending Dec 31, 201512 mos ending Dec 31, 201612 mos ending Dec 31, 201712 mos ending Dec 31, 201812 mos ending Dec 31, 201912 mos ending Dec 31, 202012 mos ending Dec 31, 202112 mos ending Dec 31, 202212 mos ending Dec 31, 2023CAGR %YoY %Revenue (+)
$3377.90
3748.30
3874.80
4037.70
3276.50
3282.40
2878.60
4727.80
4609.80
4642.10
5045.20
5802.30
4486.80
2.39%-22.67%Cost of Revenue (-)
$2210.50
2407.10
2534.40
2662.70
2201.10
2082.60
1777.30
2640.90
2526.20
2590.10
2873.50
3475.50
2655.80
1.54%-23.59%Gross Profit (+)
$1167.40
1341.20
1340.40
1375.00
1075.40
1199.80
1101.30
2086.90
2083.60
2052.00
2171.70
2326.80
1831.00
3.82%-21.31%Selling, General & Administrative (-)
$442.50
527.10
515.80
621.20
737.90
529.50
618.60
851.20
792.90
729.70
714.10
775.20
734.30
4.31%-5.28%Research & Development (-)
$105.20
117.80
117.70
128.30
143.70
141.50
141.50
291.50
298.10
287.90
304.70
314.20
328.80
9.96%4.65%Operating Expenses (-)
$580.10
683.00
681.40
829.60
1125.60
778.30
841.50
1206.40
1262.00
1149.80
1126.80
1182.50
1275.40
6.79%7.86%Costs & Expenses (Total) (-)
$2790.60
3090.10
3215.80
3492.30
3326.70
2860.90
2618.80
3847.30
3788.20
3739.90
4000.30
4658.00
3931.20
2.90%-15.60%Operating Income/Loss (+)
$587.30
658.20
659.00
545.40
-50.20
421.50
259.80
880.50
821.60
902.20
1044.90
1144.30
555.60
-0.46%-51.45%Non-operating Income/Expense (+)
$2.70
-0.20
-0.70
-0.70
1.10
1.10
1.00
-2.30
-6.20
-21.10
-20.00
Interest Expense (-)
$39.50
45.40
42.40
59.70
81.40
83.30
80.00
134.50
160.40
151.30
131.10
151.80
237.20
16.11%56.26%Earnings before Tax (+)
$550.50
612.60
615.90
485.00
-130.50
339.30
180.80
743.70
655.00
729.80
893.80
983.90
300.20
-4.93%-69.49%Tax Expense (-)
$136.50
146.70
148.60
73.50
47.40
93.90
264.10
88.80
111.50
150.90
91.60
145.20
-1119.30
-870.87%Income/Loss (Continuing Operations) (+)
$414.00
465.90
467.30
411.50
-177.90
245.40
-83.30
654.90
543.50
578.90
802.20
838.70
1419.50
10.81%69.25%Income/Loss (Discontinued Operations) (+)
$-31.80
-30.20
-159.30
-89.40
676.40
-33.70
621.70
-143.40
-63.30
-28.30
-68.20
-97.20
-98.50
-1.34%Profit/Loss (+)
$382.20
435.70
308.00
322.10
498.50
211.70
538.40
511.50
480.20
550.60
734.00
741.50
1321.00
10.89%78.15%Net Income/Loss (NCI) (-)
$16.30
19.50
14.10
14.60
9.50
2.60
2.60
9.40
2.80
-0.90
-2.50
5.00
-0.50
-110.00%Net Income/Loss (+)
$365.90
416.20
293.90
307.50
489.00
209.10
535.80
502.10
477.40
551.50
736.50
736.50
1321.50
11.29%79.43%Net Income/Loss (Common) (+)
$365.90
416.20
293.90
307.50
489.00
209.10
535.80
502.10
477.40
551.50
736.50
736.50
1321.50
11.29%79.43%EPS (Basic)
$5.13
3.01
2.16
2.30
3.66
1.56
3.99
3.72
3.64
4.24
5.72
5.83
10.55
6.19%80.96%EPS (Diluted)
$5.10
3.00
2.16
2.29
3.66
1.56
3.99
3.69
3.62
4.22
5.70
5.81
10.53
6.23%81.24%Weighted Avg Shares (Basic)
69.84
137.67
132.89
133.32
133.66
133.69
134.33
132.28
129.12
129.35
125.70
125.11
124.76
4.95%-0.28%Cash
$158.90
77.10
123.20
109.50
78.60
64.20
283.00
161.70
339.10
568.90
516.80
572.00
302.40
5.51%-47.13%Receivables
$931.30
1124.50
1484.30
1751.00
1851.40
1828.00
2043.50
2285.20
2231.20
2330.30
2583.70
2871.40
2703.20
9.29%-5.86%Inventory
$470.30
675.70
688.40
636.50
800.20
703.50
992.50
1097.30
1017.00
1095.60
1405.70
1651.60
1724.60
11.44%4.42%Prepaid Expenses (Current)
$173.40
181.10
236.80
214.70
241.70
253.50
326.40
486.00
487.50
380.80
431.40
343.60
398.90
7.19%16.09%Other Assets (Current)
$135.50
123.40
412.30
222.70
7.30
Assets (Current)
$1869.40
2181.80
2945.00
2934.40
2971.90
2849.20
3652.70
4030.20
4074.80
4375.60
4937.60
5438.60
5129.10
8.77%-5.69%Securities & Long-term Investments
$
40.20
26.80
25.10
2.50
1.00
1.40
0.70
0.70
3.10
9.20
14.50
19.80
36.55%Property, Plant & Equipment (Net)
$986.80
1136.20
1248.30
1308.50
1016.40
1002.10
1025.20
1032.60
758.00
771.70
817.00
849.60
892.50
-0.83%5.05%Goodwill & Intangibles
$413.20
510.10
661.70
599.40
1613.10
1570.90
3830.70
4172.40
4096.50
4094.10
3985.20
4097.40
4058.70
20.97%-0.94%Other Assets
$474.10
505.60
353.40
473.10
722.00
716.10
696.30
738.40
942.70
941.90
832.30
771.20
1826.10
11.89%136.79%Assets (Non-current)
$1874.10
2192.10
2290.20
2406.10
3354.00
3290.10
5553.60
5944.10
5797.90
5810.80
5643.70
5732.70
6797.10
11.33%18.57%Assets (Total)
$3743.50
4373.90
5235.20
5340.50
6325.90
6139.30
9206.30
9974.30
9872.70
10186.40
10581.30
11171.30
11926.20
10.14%6.76%Accounts Payable
$730.60
743.20
817.50
894.50
761.10
742.60
1311.10
1548.70
1642.90
1703.60
1831.60
1968.70
1411.60
5.64%-28.30%Debt (Current)
$46.50
56.30
697.80
525.20
112.60
94.20
192.60
547.70
227.70
338.30
440.80
540.80
934.00
28.40%72.71%Other Liabilities (Current)
$142.80
335.90
471.40
490.70
579.60
601.40
705.70
897.00
853.30
787.10
1247.90
1290.10
1039.00
17.98%-19.46%Liabilities (Current)
$919.90
1135.40
1986.70
1910.40
1453.30
1438.20
2209.40
2993.40
2723.90
2829.00
3520.30
3799.60
3384.60
11.47%-10.92%Debt (Non-current)
$779.10
908.80
1154.10
1153.40
2036.30
1798.80
2993.00
2179.00
3031.10
2929.50
2731.70
2733.20
3023.60
11.96%10.62%Other Liabilities
$740.40
774.90
522.30
712.70
928.00
909.30
1296.80
1591.50
1556.30
1443.70
1277.40
1237.60
1084.60
3.23%-12.36%Liabilities (Non-current)
$1519.50
1683.70
1676.40
1866.10
2964.30
2708.10
4289.80
3770.50
4587.40
4373.20
4009.10
3970.80
4108.20
8.64%3.46%Liabilities (Total)
$2439.40
2819.10
3663.10
3776.50
4417.60
4146.30
6499.20
6763.90
7311.30
7202.20
7529.40
7770.40
7492.80
9.80%-3.57%Treasury Stock
$1018.70
1147.80
1502.50
1498.70
1498.30
1506.60
1499.60
1699.10
2092.80
2141.20
2542.10
2646.20
2723.90
8.54%2.94%Retained Earnings
$2176.20
2536.50
2757.30
2984.50
3385.00
3505.50
3952.40
4334.30
4188.80
4506.40
4991.30
5555.90
6587.10
9.67%18.56%AOCI
$-390.00
-408.90
-201.90
-375.80
-457.30
-478.40
-240.30
-308.90
-412.00
-282.20
-315.70
-459.60
-406.50
11.55%Shareholder's Equity
$1304.10
1554.80
1572.10
1564.00
1908.30
1993.00
2707.10
3210.40
2561.40
2984.20
3051.90
3400.90
4433.40
10.74%30.36%Liabilities & Equity
$3743.50
4373.90
5235.20
5340.50
6325.90
6139.30
9206.30
9974.30
9872.70
10186.40
10581.30
11171.30
11926.20
10.14%6.76%Net Income/Loss
$382.20
435.70
308.00
322.10
498.50
211.70
538.40
511.50
480.20
550.60
734.00
741.50
1321.00
10.89%78.15%Depreciation & Amortization
$126.60
137.80
127.20
131.20
115.70
137.10
113.00
168.20
150.10
162.70
170.90
169.40
184.30
3.18%8.80%Increase/Decrease in Working Capital
$278.10
276.80
285.50
91.60
463.50
-4.20
-108.80
426.70
393.30
215.30
234.90
425.20
870.40
9.97%104.70%Share-based Compensation
$15.80
-60.10
-53.80
-53.50
-63.30
-48.50
-35.40
23.00
25.60
18.90
17.80
24.20
25.90
4.20%7.02%Adjustments to Reconcile Net Income
$11.60
-56.00
-88.50
7.40
-99.20
325.60
397.80
-208.90
12.10
157.90
164.60
-81.50
-1719.80
-2010.18%Net Cash (Operating)
$381.30
359.70
328.70
373.70
-357.70
537.30
335.50
368.40
1032.00
647.80
898.60
660.00
-386.40
-158.55%Capital Expenditure
$339.60
361.20
565.70
26.40
-338.10
129.20
1271.10
182.50
115.70
148.90
98.30
340.50
144.60
-6.87%-57.53%Net Cash (Investing)
$-358.00
-393.60
-628.50
-35.20
348.80
-139.20
-1349.50
-130.90
-195.90
-169.30
-112.00
-266.40
-154.40
42.04%Increase/Decrease in Debt
$187.90
138.10
888.90
-171.20
66.10
-259.20
1293.50
-438.50
586.20
24.10
-98.20
113.80
699.30
11.57%514.50%Increase/Decrease in Equity
$-173.60
-144.90
-363.90
-10.60
-3.70
-13.70
-13.60
153.70
-497.40
-53.50
-402.40
-100.00
-75.00
25.00%Dividends Paid
$54.10
63.20
83.50
81.10
86.40
88.60
89.30
89.20
210.30
229.80
247.20
267.50
290.50
15.03%8.60%Net Cash (Financing)
$-25.30
-48.20
371.20
-350.00
-16.70
-377.00
1213.10
-363.30
-124.20
-250.30
-747.90
-237.40
331.50
239.64%Cash Taxes Paid
$
33.30
Effect of Exchange Rate
$-0.60
0.30
-0.60
-2.20
-5.30
4.00
4.50
-0.20
1.60
-12.30
-23.40
-60.30
-157.69%Increase/Decrease in Cash
$-2.60
-81.80
46.10
-13.70
-30.90
-14.40
218.80
-121.30
177.40
229.80
-52.10
55.20
-269.60
-588.41%Cash (Beginning)
$161.50
158.90
77.10
123.20
109.50
78.60
64.20
283.00
161.70
339.10
568.90
516.80
572.00
11.11%10.68%Cash (Ending)
$158.90
77.10
123.20
109.50
78.60
64.20
283.00
161.70
339.10
568.90
516.80
572.00
302.40
5.51%-47.13%NOPAT
$441.68
500.58
500.00
462.75
-68.43
304.85
307.65
775.37
681.74
715.65
937.81
975.43
2627.16
16.02%169.33%Gross Margin %
34.56%
35.78%
34.59%
34.05%
32.82%
36.55%
38.26%
44.14%
45.20%
44.20%
43.04%
40.10%
40.81%
Operating Margin %
17.39%
17.56%
17.01%
13.51%
-1.53%
12.84%
9.03%
18.62%
17.82%
19.44%
20.71%
19.72%
12.38%
NOPAT Margin %
13.08%
13.35%
12.90%
11.46%
-2.09%
9.29%
10.69%
16.40%
14.79%
15.42%
18.59%
16.81%
58.55%
Net Margin %
10.83%
11.10%
7.58%
7.62%
14.92%
6.37%
18.61%
10.62%
10.36%
11.88%
14.60%
12.69%
29.45%
Tax Rate %
24.80%
23.95%
24.13%
15.15%
-36.32%
27.67%
-18.42%
11.94%
17.02%
20.68%
10.25%
14.76%
-372.85%
ROA
11.80%
11.44%
9.55%
8.66%
-1.08%
4.97%
3.34%
7.77%
6.91%
7.03%
8.86%
8.73%
22.03%
ROE
33.87%
32.20%
31.80%
29.59%
-3.59%
15.30%
11.36%
24.15%
26.62%
23.98%
30.73%
28.68%
59.26%
ROIC
18.94%
17.92%
14.75%
13.30%
-1.50%
6.96%
4.50%
10.71%
9.94%
10.17%
12.90%
12.55%
32.24%
Asset Turnover
0.90
0.86
0.74
0.76
0.52
0.53
0.31
0.47
0.47
0.46
0.48
0.52
0.38
Inventory Turnover
4.70
3.56
3.68
4.18
2.75
2.96
1.79
2.41
2.48
2.36
2.04
2.10
1.54
Equity Multiplier
2.87
2.81
3.33
3.41
3.31
3.08
3.40
3.11
3.85
3.41
3.47
3.28
2.69
Current Ratio
2.03
1.92
1.48
1.54
2.04
1.98
1.65
1.35
1.50
1.55
1.40
1.43
1.52
Quick Ratio
1.19
1.06
0.81
0.97
1.33
1.32
1.05
0.82
0.94
1.02
0.88
0.91
0.89
Debt/Equity Ratio
0.63
0.62
1.18
1.07
1.13
0.95
1.18
0.85
1.27
1.10
1.04
0.96
0.89
Working Capital/Sales
0.28
0.31
0.38
0.39
0.59
0.55
0.69
0.43
0.43
0.47
0.49
0.49
0.71
R&D/Sales
0.03
0.03
0.03
0.03
0.04
0.04
0.05
0.06
0.06
0.06
0.06
0.05
0.07
Dividend Payout Ratio %
12.25%
12.63%
16.70%
17.53%
126.25%
29.06%
29.03%
11.50%
30.85%
32.11%
26.36%
27.42%
11.06%
Total Payout
$39.80
70.00
-441.50
262.90
24.00
361.50
-1190.60
374.00
121.50
259.20
747.80
253.70
-333.80
-231.57%Payout Ratio %
9.01%
13.98%
-88.30%
56.81%
35.07%
118.58%
-387.00%
48.24%
17.82%
36.22%
79.74%
26.01%
-12.71%