A company still losing money with shrinking sales.
Watch out for
Losing money, losses are large next to sales
Debt above equity: 1.62x
Revenue down 18.3% from the year before
Money moves
No insider buying or selling in the last 30 days
Institutions added 12% to their holdings in the quarter ending June 2026 (190 bought, 237 sold)
Held by Ray Dalio (Bridgewater)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$4.61-8.9% that day
Company value
$577M
Share price times all shares
Price vs sales
0.18x
No profit over the last year, so this compares value with sales instead
Cash vs value
83%
A big cushion: cash is a large part of what the company is worth
Debt vs value
581%
Owes more than the whole company is worth
From FMC's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$867.1M-17% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $3.3B, down 21% from the 12 months before. Over 5 years, sales shrank about 5.7% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of FMC. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$1.9B
Profit in 5 years$192M
Price these guesses point to$23.00+399% vs $4.61 todayAbout +38% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales could shrink about 35% a year for 5 years and still match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
Forum talk counts mentions of FMC in popular online stock forums, a slice of the internet rather than all of it. Company lookups show interest in the company itself, which can come from news that isn't about the stock. Attention isn't quality.
Business quality
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/6Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-68.3%
MissDebt under half of equityNot relying on borrowed money.1.62x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-64.6%
MissProfitable every yearSteady profits, not one good year.9 of 10 years
PassShare count not growingNot diluting owners. Falling means buybacks.-1.2% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.37.0%
Revenue
$3.5B
-18.3% vs prior year
5-year growth
-5.7%/yr
revenue, per year
Total debt
$3.4B
1.62x equity
Current ratio
1.32x
short-term assets / bills due
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: free cash flow positive. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Oct 15Before open8:03 am ET
From the press release
Revenue 1 is now expected to be between $65 million and $125 million with expected Adjusted EBITDA 2 of negative $565 million to negative $510 million.
The company will provide more information regarding its quarter results and its 2026 financial outlook when it reports third-quarter earnings on October 29, 2026.
Revenue from the Company's India commercial business is not expected to result in material differences between the two measures for the third quarter. 2.
The numbers below are the quarter before. The new quarter's full numbers come with the 10-Q. Read the press release ↗
Revenue
$867.1M
-17.5% YoY
EPS
-$1.49
vs $0.53
Op. margin
-13.8%
-25.8 pts
Gross margin
39.5%
+0.8 pts
Free cash flow
$357.7M
Share count
-0.1%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
56/ 100
This week
2
Normal week
1.5
vs normal
1.3x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady+11.7%
Institutions added 11.7% to their holdings. 190 bought, 237 sold. 2 quarters of net buying in a row.
Shares held by institutions128.1M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+0.1%
Cash runwayAt last year's cash burn
922 months
Debt to equityLatest balance sheet: debt compared with what owners have
2.4x · $4.0B debt
Shares outstandingLatest reported
125M
Why elevated risk
Losing money, losses are large next to sales
High debt: 2.42x equity
Revenue down 18.3% from the year before
2 offering filings in 6 months (may sell new shares)
Earnings reports
Last 12
Next reportAround Feb 3, 2027 (est.)Estimated from the same quarter last year
Results filedOct 15
Results filedJul 29
Results filedApr 29
Results filedFeb 4
Results filedOct 29, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days