The Mosaic Company

MOS · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987
Valuation
Market cap	$7,646	$7,808	$11,678	$14,937	$14,553	$8,523	$8,016	$10,820	$9,505	$10,864	$10,220	$17,078	$19,891	$25,898	$20,286	$31,599	$19,856	$25,084	$55,479	$15,257	$5,947	$4,288	$1,140	$1,223	$1,488	$1,802	$1,877	$2,405	$3,075	$3,329	$3,689	$1,600	$875	$648	$946	$1,166	$924	$871	$989
Enterprise value	$12,799	$12,117	$15,466	$18,149	$18,334	$12,875	$12,487	$14,708	$12,601	$14,047	$12,836	$18,553	$17,648	$23,298	$17,545	$28,546	$18,303	$23,795	$55,093	$17,219	$8,404	$6,733	$3,180	$3,477	$3,531	$4,078	$4,344	$5,342	$4,389	$4,459	$4,954	$2,408	$1,973	$1,463	$1,557	$1,758	$1,301	$1,341	$1,327
P/E (TTM) at period end	14.14×	44.64×	10.02×	4.17×	8.93×	12.80×	–	23.02×	–	36.48×	10.22×	16.97×	34.53×	13.71×	10.51×	12.57×	24.01×	10.67×	26.64×	36.35×	–	25.89×	–	–	–	–	–	–	48.88×	17.24×	25.56×	13.95×	–	–	–	12.18×	11.18×	6.34×	8.85×
P/S (TTM) at period end	0.63×	0.70×	0.85×	0.78×	1.18×	0.98×	0.90×	1.13×	1.28×	1.52×	1.15×	1.89×	2.43×	2.60×	1.83×	3.18×	2.94×	2.44×	5.65×	2.64×	1.12×	0.98×	0.52×	0.59×	0.76×	0.86×	0.79×	0.89×	1.03×	1.12×	1.24×	0.83×	0.61×	0.72×	0.89×	1.03×	0.84×	0.71×	0.91×
P/B at period end	0.63×	0.68×	0.95×	1.24×	1.37×	0.89×	0.87×	1.04×	0.99×	1.13×	1.07×	1.60×	1.76×	1.93×	1.69×	2.71×	2.28×	2.95×	8.24×	3.65×	1.68×	1.33×	2.16×	3.12×	2.75×	2.67×	1.74×	1.29×	1.59×	2.48×	3.19×	2.10×	1.34×	1.50×	1.54×	1.67×	1.13×	1.14×	2.08×
EV / EBITDA (TTM)	6.84×	7.36×	6.73×	3.17×	5.59×	10.21×	–	8.12×	11.14×	13.64×	6.36×	8.99×	10.63×	8.28×	5.62×	9.17×	10.67×	8.62×	17.42×	18.52×	22.35×	13.49×	10.66×	10.00×	13.94×	10.23×	7.98×	6.99×	7.01×	6.30×	7.12×	4.74×	7.47×	–	6.36×	6.61×	4.99×	–	–
EV / Sales (TTM)	1.06×	1.09×	1.13×	0.95×	1.48×	1.48×	1.40×	1.53×	1.70×	1.96×	1.44×	2.05×	2.16×	2.34×	1.58×	2.87×	2.71×	2.31×	5.61×	2.98×	1.58×	1.53×	1.45×	1.69×	1.80×	1.95×	1.83×	1.98×	1.47×	1.50×	1.66×	1.25×	1.37×	1.63×	1.47×	1.55×	1.18×	1.10×	1.22×
Returns
Return on equity	4.5%	1.5%	9.5%	29.7%	15.4%	7.0%	(11.6%)	4.5%	(1.1%)	3.1%	10.5%	9.4%	5.1%	14.1%	16.1%	21.6%	9.5%	27.7%	30.9%	10.0%	(3.4%)	5.2%	(25.7%)	(28.3%)	(14.9%)	(51.1%)	(71.6%)	(0.5%)	3.2%	14.4%	12.5%	15.0%	(4.4%)	(38.8%)	(12.1%)	13.7%	10.1%	17.9%	23.5%
Return on invested capital	2.3%	1.6%	7.2%	23.1%	12.6%	3.0%	(6.6%)	5.6%	–	2.5%	9.6%	9.1%	7.3%	17.3%	20.6%	23.9%	11.9%	25.9%	33.0%	7.7%	1.8%	3.5%	2.5%	–	3.0%	4.9%	8.8%	6.0%	9.5%	13.4%	13.2%	14.6%	–	(6.9%)	8.5%	8.5%	9.1%	13.7%	15.0%
Dividend yield	3.7%	3.5%	3.0%	1.3%	0.7%	0.9%	0.8%	0.4%	2.2%	3.5%	3.8%	2.2%	1.8%	1.6%	0.6%	0.3%	3.4%	0.4%	–	0.0%	0.2%	0.3%	0.8%	0.8%	1.2%	1.5%	2.0%	1.5%	1.0%	0.9%	7.5%	–	–	2.7%	2.5%	2.4%	–	–	–
Financial health
Current ratio	1.32×	1.08×	1.22×	1.18×	1.11×	1.12×	1.43×	1.71×	2.27×	2.07×	2.02×	3.27×	2.48×	3.90×	3.43×	3.47×	3.82×	3.27×	2.20×	1.20×	1.40×	1.56×	1.41×	1.55×	1.49×	0.94×	1.89×	1.64×	1.58×	2.40×	2.51×	2.00×	2.55×	1.82×	1.43×	1.19×	1.16×	1.46×	1.63×
Debt / equity	0.36×	0.29×	0.27×	0.28×	0.38×	0.48×	0.50×	0.43×	0.51×	0.39×	0.40×	0.35×	0.27×	0.08×	0.09×	0.07×	0.15×	0.16×	0.23×	0.56×	0.74×	0.83×	4.02×	5.80×	4.24×	3.50×	2.36×	1.64×	0.74×	0.55×	0.66×	0.69×	1.05×	2.15×	1.04×	0.90×	0.50×	0.73×	1.02×
Effective tax rate	52.7%	59.2%	13.3%	26.4%	26.9%	(319.8%)	17.9%	14.0%	132.3%	(30.6%)	9.0%	15.2%	31.5%	15.4%	27.1%	23.0%	29.2%	22.3%	25.5%	22.7%	(4.6%)	37.0%	49.3%	186.2%	19.8%	35.7%	(36.2%)	43.5%	30.3%	36.5%	39.5%	38.7%	146.2%	32.3%	35.7%	37.3%	35.3%	36.1%	41.5%
Share count
Diluted shares outstanding	319	321	333	356	382	381	384	386	351	352	360	376	422	427	436	448	447	446	446	440	382	360	115	115	114	115	115	112	94	95	92	59	51	44	44	50	53	52	50

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007	FY2006	FY2005	FY2004	FY2003	FY2002	FY2001	FY2000	FY1999	FY1998	FY1997	FY1996	FY1995	FY1994	FY1993	FY1992	FY1991	FY1990	FY1989	FY1988	FY1987
Revenue and gross profit
Revenue	$12,248	$12,052	$11,123	$13,696	$19,125	$12,357	$8,682	$8,906	$9,587	$7,409	$7,163	$8,895	$9,056	$8,170	$9,974	$11,108	$9,938	$6,759	$10,298	$9,813	$5,774	$5,306	$4,397	$2,191	$2,057	$1,959	$2,096	$2,369	$2,696	$2,989	$2,982	$2,981	$1,924	$1,442	$897	$1,058	$1,131	$1,106	$1,222	$1,086
Cost of revenue	($10,903)	($10,150)	($9,611)	($11,486)	($13,369)	($9,157)	($7,617)	($8,009)	($8,089)	($6,567)	($6,353)	($7,177)	($7,129)	($6,750)	($7,214)	($8,023)	($6,816)	($5,066)	($7,531)	($6,652)	($4,848)	($4,668)	($3,871)	($2,009)	($1,794)	($1,770)	($1,592)	($1,594)	($1,706)	($2,067)	($2,028)	($2,062)	($1,341)	($1,112)	($711)	($746)	($800)	($783)	($786)	($745)
Gross profit	$1,345	$1,902	$1,512	$2,211	$5,756	$3,200	$1,065	$897	$1,498	$843	$810	$1,718	$1,927	$1,420	$2,760	$3,085	$3,122	$1,693	$2,767	$3,160	$926	$637	$526	$181	$263	$189	$504	$775	$990	$922	$954	$920	$583	$330	$186	$313	$331	$322	$435	$341
Operating expenses
Research and development	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Selling, general and administrative	($512)	($534)	($497)	($500)	($498)	($430)	($372)	($354)	($341)	($301)	($304)	($361)	($382)	($363)	($427)	($410)	($372)	($360)	($321)	($336)	($310)	($241)	($207)	($80)	($81)	($82)	($103)	($164)	($190)	($436)	($247)	($223)	($75)	($66)	($251)	($68)	($65)	($62)	($70)	($54)
Total operating expenses	($1,515)	($1,080)	($890)	($872)	($970)	($732)	($652)	($1,992)	($570)	($377)	($491)	($439)	($615)	($459)	($551)	($474)	($458)	($422)	($366)	($354)	($310)	($532)	($207)	($55)	($81)	($93)	($276)	($464)	($478)	($479)	($432)	($392)	($210)	($188)	($313)	($151)	($155)	($154)	($170)	($133)
Total costs and expenses	($12,418)	($11,231)	($10,501)	($12,358)	($14,340)	($9,889)	($8,269)	($10,001)	($8,659)	($6,944)	($6,844)	($7,616)	($7,744)	($7,209)	($7,764)	($8,497)	($7,274)	($5,488)	($7,897)	($7,006)	($5,157)	($5,200)	($4,078)	($2,064)	($1,875)	($1,863)	($1,869)	($2,058)	($2,184)	($2,546)	($2,459)	($2,454)	($1,551)	($1,300)	($1,024)	($897)	($955)	($937)	($956)	($877)
Operating income	($170)	$822	$622	$1,338	$4,785	$2,468	$413	($1,095)	$928	$466	$319	$1,279	$1,312	$961	$2,210	$2,611	$2,664	$1,271	$2,401	$2,807	$616	$106	$318	$126	$182	$96	$227	$312	$512	$443	$523	$528	$373	$142	($126)	$161	$176	$168	$266	$208
Earnings
EBITDA	$984	$1,871	$1,647	$2,299	$5,719	$3,281	$1,260	($212)	$1,812	$1,131	$1,030	$2,019	$2,063	$1,660	$2,814	$3,119	$3,112	$1,716	$2,761	$3,162	$930	$376	$499	$298	$348	$253	$399	$544	$764	$626	$707	$696	$508	$264	($65)	$245	$266	$261	–	–
Interest income	–	$54	$47	$60	$31	$25	$34	$33	$50	$33	$28	$36	$21	$23	–	–	–	$16	$47	$34	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Interest expense	($228)	($242)	($230)	($189)	($169)	($194)	($214)	($216)	($216)	($171)	($141)	($134)	($129)	–	–	($1)	($28)	($66)	($90)	($124)	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Pre-tax income	($251)	$1,213	$315	$1,326	$4,642	$2,225	$181	($1,256)	$552	$374	$242	$1,103	$1,217	$830	$2,214	$2,629	$3,271	$1,190	$2,906	$2,806	$543	($116)	$266	($74)	$16	($52)	$131	($391)	$230	$100	$322	$238	$207	$8	($177)	$141	$153	$128	$215	$191
Income tax expense	($366)	($640)	($187)	($177)	($1,224)	($598)	$578	$225	($77)	($495)	$74	($99)	($185)	($262)	($341)	($711)	($753)	($347)	($649)	($715)	($123)	($5)	($98)	$36	($30)	$10	($47)	($141)	($100)	($30)	($118)	($94)	($80)	($11)	$57	($50)	($57)	($45)	($78)	($79)
Net income	($638)	$541	$175	$1,165	$3,583	$1,631	$666	($1,067)	$470	($107)	$298	$1,000	$1,029	$576	$1,889	$1,930	$2,515	$827	$2,350	$2,083	$420	($121)	$166	($135)	($111)	($81)	($345)	($773)	($9)	$63	$193	$144	$115	($29)	($167)	($75)	$96	$83	$137	$112
Per share
Diluted EPS (GAAP)	($2.01)	$1.70	$0.55	$3.50	$10.06	$4.27	$1.75	($2.78)	$1.22	($0.31)	$0.85	$2.78	$2.68	$1.36	$4.42	$4.42	$5.62	$1.85	$5.27	$4.67	$0.95	($0.32)	$0.46	($1.18)	($0.96)	($0.58)	($3.01)	($6.75)	($0.08)	$0.67	$2.03	$1.56	$1.94	($0.57)	($3.79)	($1.69)	$1.93	$1.57	$2.64	$2.22
Basic EPS (GAAP)	($2.01)	$1.70	$0.55	$3.52	$10.17	$4.31	$1.76	($2.78)	$1.22	($0.31)	$0.85	$2.79	$2.69	$1.37	$4.44	$4.44	$5.64	$1.86	$5.29	$4.70	$0.97	($0.32)	$0.51	($1.18)	($0.96)	($0.58)	($3.02)	($6.75)	($0.08)	$0.67	$2.03	$1.56	$1.94	($0.57)	($3.79)	($1.69)	$1.93	$1.57	$2.64	$2.22
Basic shares outstanding	318	317	320	331	352	378	379	384	385	351	350	358	374	421	426	435	446	445	444	443	434	382	328	115	115	114	114	115	112	94	95	92	59	51	44	44	50	53	52	50
Margins
Gross margin	11.0%	15.8%	13.6%	16.1%	30.1%	25.9%	12.3%	10.1%	15.6%	11.4%	11.3%	19.3%	21.3%	17.4%	27.7%	27.8%	31.4%	25.1%	26.9%	32.2%	16.0%	12.0%	12.0%	8.3%	12.8%	9.6%	24.0%	32.7%	36.7%	30.8%	32.0%	30.8%	30.3%	22.9%	20.8%	29.6%	29.3%	29.2%	35.6%	31.4%
Operating margin	(1.4%)	6.8%	5.6%	9.8%	25.0%	20.0%	4.8%	(12.3%)	9.7%	6.3%	4.5%	14.4%	14.5%	11.8%	22.2%	23.5%	26.8%	18.8%	23.3%	28.6%	10.7%	2.0%	7.2%	5.8%	8.9%	4.9%	10.8%	13.2%	19.0%	14.8%	17.5%	17.7%	19.4%	9.8%	(14.1%)	15.2%	15.5%	15.2%	21.8%	19.2%
Net margin	(5.2%)	4.5%	1.6%	8.5%	18.7%	13.2%	7.7%	(12.0%)	4.9%	(1.4%)	4.2%	11.2%	11.4%	7.1%	18.9%	17.4%	25.3%	12.2%	22.8%	21.2%	7.3%	(2.3%)	3.8%	(6.2%)	(5.4%)	(4.1%)	(16.5%)	(32.6%)	(0.3%)	2.1%	6.5%	4.8%	6.0%	(2.0%)	(18.6%)	(7.0%)	8.5%	7.5%	11.2%	10.3%

Analyst consensus

Hold49 analysts

Bearish · 8 · Hold · 27 · Bullish · 14

Earnings history

	EPS	Estimate
Q3 2024	$0.34	$0.54	Miss
Q4 2024	$0.45	$0.53	Miss
Q1 2025	$0.49	$0.45	Beat
Q2 2025	$0.51	$0.67	Miss
Q3 2025	$1.04	$0.97	Beat
Q4 2025	$0.22	$0.48	Miss
Q1 2026	$0.05	$0.24	Miss
Q2 2026	$0.13	$0.12	Beat

Peers

Company overview

IPO dateJan 26, 1988

CEOBruce Bodine Jr.

Employees13,249

SectorBasic Materials

IndustryAgricultural Inputs

CountryUS

ExchangeNew York Stock Exchange

Websitewww.mosaicco.com

Operating on a global scale via its various subsidiaries, The Mosaic Company specializes in the creation and distribution of concentrated phosphate and potash crop nutrients. Its business is structured into three distinct segments: Phosphates, Potash, and Mosaic Fertilizantes. The company maintains and operates its own mining facilities to extract raw materials, which are then processed into a diverse array of phosphate-based products. These offerings encompass crucial agricultural fertilizers such as diammonium phosphate (DAP), monoammonium phosphate (MAP), and various ammoniated phosphate compounds. Additionally, Mosaic produces phosphate-derived ingredients for animal feed, primarily marketed under the Biofos and Nexfos brands, along with K-Mag, a unique double sulfate of potash magnesia product. Beyond phosphates, Mosaic is a key producer and vendor of potash. This versatile mineral finds application in compound fertilizer manufacturing, animal feed formulations, industrial processes, de-icing preparations, and as a regenerant for water softeners. The company further broadens its portfolio by providing nitrogen-based crop nutrients, supplemental animal feed ingredients, and a range of supporting services. It also actively engages in the procurement and resale of phosphate, potash, and nitrogen products. Mosaic's products reach a wide array of customers, including major wholesale distributors, extensive retail chains, agricultural cooperatives, individual farmers, independent retailers, and large national accounts. Incorporated in 2004, The Mosaic Company is headquartered in Tampa, Florida.

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