Recent News
On July 31, 2025 FMC announced registration in Great Britain for Fundatis® herbicide powered by Isoflex® active for winter wheat and winter barley, enabling product availability for the fall season.
On August 20, 2025 FMC disclosed that senior management planned to speak at the Jefferies Industrials Conference, scheduling investor engagement in early September.
On August 25, 2025 FMC named Leonardo Bastos as vice president and chief marketing officer, effective September 15, 2025.
Technical Analysis
Directional indicators (ADX / DI+ / DI-): ADX at 37.08 indicates a strong trend; DI- shows a peak-and-reversal while DI+ shows a dip-and-reversal, which by rule produce a bullish directional signal that supports nearer-term upside potential tied to the valuation view.
MACD: MACD sits negative at -1.65 but shows a dip-and-reversal; that pattern implies bullish momentum development even though the MACD remains below the signal line (-1.57). Momentum appears to move from bearish to constructive, which supports a bias toward recovery rather than further degradation.
MRO (Momentum/Regression Oscillator): MRO at -36.19 registers negative, which indicates price below WMDST’s target and therefore potential to increase; the recent dip-and-reversal reading aligns with technical momentum shifting toward buyers and ties to the under-valued WMDST valuation.
RSI: RSI at 36.48 with a dip-and-reversal indicates recent oversold pressure that now trends upward; that pattern complements MACD and MRO, suggesting scope for a rebound into short-term resistance levels set by moving averages and Bollinger bands.
Price vs Moving Averages and Bands: Price closed at $29.98, trading below the 50-day ($35.07) and 200-day ($39.25) averages while sitting near the lower Bollinger band (~$29.50). Short-term EMAs show the 12-day EMA trending down and price slightly below the 20-day average ($30.98), implying initial relief rallies could meet layered resistance until moving averages reassert themselves.
Fundamental Analysis
Earnings and cash flow: Reported EPS came in at $0.69 versus an estimate of $0.62, producing an EPS surprise ratio of 11.29%. WMDST notes operating income of $163,100,000 and EBIT of $119,800,000; EBIT margin equals 11.40%, with EBIT margin QoQ up 64.09% and YoY up 103.83%, indicating recent margin recovery on a small base.
Revenue and growth: Total revenue equals $1,050,500,000. Revenue growth shows a QoQ decline but a YoY increase of 149.63% as reported; the growth profile supports valuation but requires continued execution to sustain top-line expansion.
Profitability and returns: Gross margin stands at 38.68%, operating margin at 15.53%, and return on equity at 1.52%, with return on assets at 0.55%; those returns remain modest relative to capital base despite recent margin improvement.
Liquidity and leverage: Current ratio registers 1.53 and quick ratio 1.14, while cash and short-term investments total $438,200,000. Total debt measures $4,163,300,000 with net debt $3,725,100,000. Debt to EBITDA reads 25.51x and interest coverage approximates 1.96x, signaling material leverage pressure even as operating performance improves.
Capital allocation and dividend: Dividend rate per share stands near $0.583 and dividend yield equals 1.46%; dividend payout ratio prints roughly 109.15% while dividend coverage equals 91.62%, indicating a payout near current earnings capacity and a reliance on cash flow execution to sustain distributions.
Valuation context (comparisons to industry peer measures): Price-to-book at 1.13 sits below the industry peer mean of 5.36 and peer median of 8.22. Price-to-earnings at 60.29 rests below the industry peer mean of 104.29 and the peer median of 139.29. Free cash flow yield at 0.69% sits below the industry peer mean of 1.01%. WMDST values the stock as under-valued; given the mix of below-peer valuation multiples and high leverage, the valuation reflects both recovery potential and execution risk.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2025-06-30 |
| REPORT DATE: | 2025-07-30 |
| NEXT REPORT DATE: | 2025-10-29 |
| CASH FLOW | Begin Period Cash Flow | $ 315.3 M |
| Operating Cash Flow | $ 49.5 M | |
| Capital Expenditures | $ -15.00 M | |
| Change In Working Capital | $ -46.80 M | |
| Dividends Paid | $ -72.80 M | |
| Cash Flow Delta | $ 122.9 M | |
| End Period Cash Flow | $ 438.2 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 1.1 B | |
| Forward Revenue | $ 573.0 M | |
| COSTS | ||
| Cost Of Revenue | $ 644.2 M | |
| Depreciation | $ 43.4 M | |
| Depreciation and Amortization | $ 43.4 M | |
| Research and Development | $ 66.4 M | |
| Total Operating Expenses | $ 887.4 M | |
| PROFITABILITY | ||
| Gross Profit | $ 406.3 M | |
| EBITDA | $ 163.2 M | |
| EBIT | $ 119.8 M | |
| Operating Income | $ 163.1 M | |
| Interest Income | — | |
| Interest Expense | $ 61.0 M | |
| Net Interest Income | $ -61.00 M | |
| Income Before Tax | $ 58.8 M | |
| Tax Provision | $ 14.4 M | |
| Tax Rate | 24.5 % | |
| Net Income | $ 66.7 M | |
| Net Income From Continuing Operations | $ 44.4 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.62 | |
| EPS Actual | $ 0.69 | |
| EPS Difference | $ 0.07 | |
| EPS Surprise | 11.29 % | |
| Forward EPS | $ 1.17 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 12.3 B | |
| Intangible Assets | $ 3.9 B | |
| Net Tangible Assets | $ 468.6 M | |
| Total Current Assets | $ 5.5 B | |
| Cash and Short-Term Investments | $ 438.2 M | |
| Cash | $ 438.2 M | |
| Net Receivables | $ 3.1 B | |
| Inventory | $ 1.4 B | |
| Long-Term Investments | $ 433.5 M | |
| LIABILITIES | ||
| Accounts Payable | $ 906.0 M | |
| Short-Term Debt | $ 893.3 M | |
| Total Current Liabilities | $ 3.6 B | |
| Net Debt | $ 3.7 B | |
| Total Debt | $ 4.2 B | |
| Total Liabilities | $ 7.9 B | |
| EQUITY | ||
| Total Equity | $ 4.4 B | |
| Retained Earnings | $ 6.5 B | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 35.20 | |
| Shares Outstanding | 124.912 M | |
| Revenue Per-Share | $ 8.41 | |
| VALUATION | Market Capitalization | $ 5.0 B |
| Enterprise Value | $ 8.7 B | |
| Enterprise Multiple | 53.338 | |
| Enterprise Multiple QoQ | -40.624 % | |
| Enterprise Multiple YoY | -29.86 % | |
| Enterprise Multiple IPRWA | high: 85.583 median: 84.899 mean: 59.54 FMC: 53.338 low: -118.916 |
|
| EV/R | 8.286 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 2.797 | |
| Asset To Liability | 1.563 | |
| Debt To Capital | 0.486 | |
| Debt To Assets | 0.339 | |
| Debt To Assets QoQ | -0.203 % | |
| Debt To Assets YoY | 256.117 % | |
| Debt To Assets IPRWA | high: 0.733 median: 0.378 mean: 0.34 FMC: 0.339 low: 0.003 |
|
| Debt To Equity | 0.947 | |
| Debt To Equity QoQ | 3.637 % | |
| Debt To Equity YoY | 274.323 % | |
| Debt To Equity IPRWA | high: 2.523 median: 0.962 FMC: 0.947 mean: 0.825 low: 0.003 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 1.133 | |
| Price To Book QoQ | -4.162 % | |
| Price To Book YoY | -27.327 % | |
| Price To Book IPRWA | high: 14.757 median: 8.223 mean: 5.365 FMC: 1.133 low: 0.307 |
|
| Price To Earnings (P/E) | 60.293 | |
| Price To Earnings QoQ | -73.821 % | |
| Price To Earnings YoY | -33.269 % | |
| Price To Earnings IPRWA | high: 139.289 median: 139.289 mean: 104.289 FMC: 60.293 low: -3.22 |
|
| PE/G Ratio | 0.213 | |
| Price To Sales (P/S) | 4.74 | |
| Price To Sales QoQ | -27.553 % | |
| Price To Sales YoY | -30.723 % | |
| Price To Sales IPRWA | high: 20.44 median: 19.039 mean: 13.164 FMC: 4.74 low: 0.914 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 34.794 | |
| Forward PE/G | 0.123 | |
| Forward P/S | 8.691 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | 3.599 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.087 | |
| Asset Turnover Ratio QoQ | 29.209 % | |
| Asset Turnover Ratio YoY | 1.219 % | |
| Asset Turnover Ratio IPRWA | high: 0.334 median: 0.175 mean: 0.162 FMC: 0.087 low: 0.003 |
|
| Receivables Turnover | 0.352 | |
| Receivables Turnover Ratio QoQ | 28.896 % | |
| Receivables Turnover Ratio YoY | -6.555 % | |
| Receivables Turnover Ratio IPRWA | high: 2.422 mean: 1.519 median: 1.361 FMC: 0.352 low: 0.117 |
|
| Inventory Turnover | 0.465 | |
| Inventory Turnover Ratio QoQ | 26.197 % | |
| Inventory Turnover Ratio YoY | 9.76 % | |
| Inventory Turnover Ratio IPRWA | high: 2.465 median: 1.426 mean: 1.198 FMC: 0.465 low: 0.034 |
|
| Days Sales Outstanding (DSO) | 259.565 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 361.666 | |
| Cash Conversion Cycle Days QoQ | -9.618 % | |
| Cash Conversion Cycle Days YoY | -4.692 % | |
| Cash Conversion Cycle Days IPRWA | FMC: 361.666 high: 271.954 mean: 85.119 median: 55.264 low: 5.01 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 0.555 | |
| CapEx To Revenue | -0.014 | |
| CapEx To Depreciation | -0.346 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 7.7 B | |
| Net Invested Capital | $ 8.6 B | |
| Invested Capital | $ 8.6 B | |
| Net Tangible Assets | $ 468.6 M | |
| Net Working Capital | $ 1.9 B | |
| LIQUIDITY | ||
| Cash Ratio | 0.123 | |
| Current Ratio | 1.53 | |
| Current Ratio QoQ | -0.395 % | |
| Current Ratio YoY | 3.466 % | |
| Current Ratio IPRWA | high: 6.372 mean: 1.988 FMC: 1.53 median: 1.442 low: 0.717 |
|
| Quick Ratio | 1.14 | |
| Quick Ratio QoQ | 1.707 % | |
| Quick Ratio YoY | 6.341 % | |
| Quick Ratio IPRWA | high: 3.851 mean: 1.338 FMC: 1.14 median: 1.122 low: 0.803 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 25.51 | |
| Cost Of Debt | 1.128 % | |
| Interest Coverage Ratio | 1.964 | |
| Interest Coverage Ratio QoQ | 78.897 % | |
| Interest Coverage Ratio YoY | 114.985 % | |
| Interest Coverage Ratio IPRWA | high: 24.749 median: 9.66 mean: 7.624 FMC: 1.964 low: -45.933 |
|
| Operating Cash Flow Ratio | 0.005 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 164.142 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 0.916 | |
| Dividend Payout Ratio | 1.091 | |
| Dividend Rate | $ 0.58 | |
| Dividend Yield | 0.015 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.205 % | |
| Revenue Growth | 32.739 % | |
| Revenue Growth QoQ | -192.59 % | |
| Revenue Growth YoY | 149.63 % | |
| Revenue Growth IPRWA | high: 47.859 % FMC: 32.739 % median: 8.936 % mean: 7.44 % low: -4.472 % |
|
| Earnings Growth | 283.333 % | |
| Earnings Growth QoQ | -415.01 % | |
| Earnings Growth YoY | 277.777 % | |
| Earnings Growth IPRWA | high: 346.154 % FMC: 283.333 % median: 26.0 % mean: 17.485 % low: -380.0 % |
|
| MARGINS | ||
| Gross Margin | 38.677 % | |
| Gross Margin QoQ | -3.351 % | |
| Gross Margin YoY | 0.884 % | |
| Gross Margin IPRWA | high: 62.406 % median: 42.61 % FMC: 38.677 % mean: 37.663 % low: -24.576 % |
|
| EBIT Margin | 11.404 % | |
| EBIT Margin QoQ | 64.086 % | |
| EBIT Margin YoY | 103.825 % | |
| EBIT Margin IPRWA | high: 46.541 % median: 18.287 % mean: 15.071 % FMC: 11.404 % low: -33.607 % |
|
| Return On Sales (ROS) | 15.526 % | |
| Return On Sales QoQ | 123.396 % | |
| Return On Sales YoY | 177.498 % | |
| Return On Sales IPRWA | high: 23.528 % median: 18.253 % FMC: 15.526 % mean: 13.965 % low: -33.437 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 34.5 M | |
| Free Cash Flow Yield | 0.693 % | |
| Free Cash Flow Yield QoQ | -106.083 % | |
| Free Cash Flow Yield YoY | -82.718 % | |
| Free Cash Flow Yield IPRWA | high: 5.667 % mean: 1.013 % FMC: 0.693 % median: 0.633 % low: -1.464 % |
|
| Free Cash Growth | -105.848 % | |
| Free Cash Growth QoQ | -58.669 % | |
| Free Cash Growth YoY | -58.314 % | |
| Free Cash Growth IPRWA | high: 333.766 % median: 266.0 % mean: 17.317 % FMC: -105.848 % low: -926.923 % |
|
| Free Cash To Net Income | 0.517 | |
| Cash Flow Margin | 1.599 % | |
| Cash Flow To Earnings | 0.252 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.03 | |
| Return On Assets (ROA) | 0.554 % | |
| Return On Assets QoQ | -519.697 % | |
| Return On Assets YoY | -77.369 % | |
| Return On Assets IPRWA | high: 11.068 % median: 2.274 % mean: 1.435 % FMC: 0.554 % low: -18.758 % |
|
| Return On Capital Employed (ROCE) | 1.373 % | |
| Return On Equity (ROE) | 0.015 | |
| Return On Equity QoQ | -528.531 % | |
| Return On Equity YoY | -76.561 % | |
| Return On Equity IPRWA | high: 0.233 median: 0.056 mean: 0.037 FMC: 0.015 low: -0.393 |
|
| DuPont ROE | 1.52 % | |
| Return On Invested Capital (ROIC) | 1.057 % | |
| Return On Invested Capital QoQ | 168.274 % | |
| Return On Invested Capital YoY | -84.299 % | |
| Return On Invested Capital IPRWA | high: 4.864 % median: 3.363 % mean: 2.508 % FMC: 1.057 % low: -11.907 % |
|