Revenue growth remains under pressure with a recent 32.7% quarterly increase failing to mask the structural margin compression that saw gross margins drop to 13.06% on a trailing basis.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 5.49B | 5.14B | 5.38B | 9.62B | 7.32B | 3.33B | 3.13B | 3.59B | 3.37B | 3.07B | 2.68B | 2.83B | 2.45B | 2.39B | 2.52B | 2.87B | 2.36B | 2.01B | 2.47B | 2.34B | 2.37B | 2.11B | 1.51B | 1.11B | 1.01B | 942.75M | 917.55M | 845.9M | 820.9M | 829.9M | 854.5M |
| Revenue Growth % | 7.87% | -4.37% | -44.08% | 31.38% | 119.96% | 6.36% | -12.83% | 6.35% | 9.86% | 14.75% | -5.28% | 15.57% | 2.14% | -4.96% | -12.19% | 21.43% | 17.82% | -18.71% | 5.6% | -1.36% | 12.38% | 39.22% | 36.34% | 10.15% | 6.91% | 2.75% | 8.47% | 3.05% | -1.08% | -2.88% | -31.32% |
| Cost of Goods Sold | 4.48B | 4.47B | 5.32B | 8.42B | 4.23B | 2.32B | 2.13B | 2.33B | 2.15B | 1.95B | 1.71B | 1.97B | 1.67B | 1.76B | 1.84B | 1.89B | 1.62B | 1.52B | 1.86B | 1.71B | 1.82B | 1.68B | 1.2B | 871.73M | 775.39M | 721.42M | 646.09M | 505.6M | 485M | 499.4M | 540.4M |
| COGS % of Revenue | - | 86.94% | 98.88% | 87.51% | 57.85% | 69.7% | 68.18% | 64.93% | 63.82% | 63.43% | 63.75% | 69.56% | 68.48% | 73.3% | 72.86% | 65.94% | 68.43% | 75.87% | 75.37% | 73.35% | 76.74% | 79.78% | 79.14% | 78.52% | 76.93% | 76.52% | 70.41% | 59.77% | 59.08% | 60.18% | 63.24% |
| Gross Profit | 1.02B | 671.62M | 60.24M | 1.2B | 3.09B | 1.01B | 995.55M | 1.26B | 1.22B | 1.12B | 970.58M | 860.23M | 770.85M | 861.4M | 910M | 977.06M | 745.92M | 483.86M | 607.67M | 622.49M | 550.81M | 426.15M | 315.75M | 238.51M | 232.53M | 221.34M | 271.46M | 340.3M | 335.9M | 330.5M | 314.1M |
| Gross Margin % | 18.53% | 13.06% | 1.12% | 12.49% | 42.15% | 30.3% | 31.82% | 35.07% | 36.18% | 36.57% | 36.25% | 30.44% | 31.52% | 35.98% | 36.12% | 34.06% | 31.57% | 24.13% | 24.63% | 26.65% | 23.26% | 20.22% | 20.86% | 21.48% | 23.07% | 23.48% | 29.59% | 40.23% | 40.92% | 39.82% | 36.76% |
| Gross Profit Growth % | - | 1014.92% | -94.98% | -61.08% | 205.97% | 1.3% | -20.91% | 3.09% | 8.69% | 15.75% | 12.83% | 11.6% | -10.51% | -5.34% | -6.86% | 30.99% | 54.16% | -20.37% | -2.38% | 13.01% | 29.25% | 34.97% | 32.38% | 2.57% | 5.06% | -18.47% | -20.23% | 1.31% | 1.63% | 5.22% | -15.36% |
| Operating Expenses | 713.14M | 577.83M | 696.25M | 959.89M | 584.13M | 475.81M | 469.84M | 573.46M | 496.74M | 500.92M | 460.94M | 389.63M | 443.44M | 245.13M | 400.25M | 389.22M | 324.12M | 273.55M | 322.42M | 307.66M | 284.15M | 261.4M | 189.01M | 145.69M | 129.71M | 122.89M | 121.3M | 215.5M | 210.1M | 209.7M | 220.7M |
| OpEx % of Revenue | - | 11.24% | 12.95% | 9.98% | 7.98% | 14.3% | 15.02% | 15.98% | 14.72% | 16.31% | 17.22% | 13.79% | 18.13% | 10.24% | 15.89% | 13.57% | 13.72% | 13.64% | 13.07% | 13.17% | 12% | 12.4% | 12.49% | 13.12% | 12.87% | 13.03% | 13.22% | 25.48% | 25.59% | 25.27% | 25.83% |
| Selling, General & Admin | 545.79M | 526.43M | 609.52M | 874.16M | 512.14M | 421.79M | 410.63M | 515.17M | 426.69M | 422.29M | 380.46M | 300.44M | 355.13M | 162.89M | 321.33M | 312.14M | 265.72M | 212.63M | 255.13M | 244.97M | 237.86M | 219.72M | 157.74M | 117.23M | 111.68M | 98.92M | 103.23M | 105.4M | 105.4M | 109.3M | 149.7M |
| SG&A % of Revenue | - | 10.24% | 11.33% | 9.09% | 7% | 12.67% | 13.12% | 14.35% | 12.64% | 13.75% | 14.21% | 10.63% | 14.52% | 6.8% | 12.76% | 10.88% | 11.25% | 10.6% | 10.34% | 10.49% | 10.04% | 10.43% | 10.42% | 10.56% | 11.08% | 10.49% | 11.25% | 12.46% | 12.84% | 13.17% | 17.52% |
| Research & Development | 46.47M | 51.4M | 86.72M | 85.72M | 71.98M | 54.03M | 59.21M | 58.29M | 70.05M | 84.33M | 80.47M | 89.19M | 88.31M | 82.25M | 78.92M | 77.08M | 58.39M | 60.92M | 67.29M | 62.69M | 46.3M | 41.67M | 31.27M | 18.41M | 16.48M | 21.92M | 26.2M | 34.3M | 29.7M | 31.4M | 30.44M |
| R&D % of Revenue | - | 1% | 1.61% | 0.89% | 0.98% | 1.62% | 1.89% | 1.62% | 2.08% | 2.75% | 3.01% | 3.16% | 3.61% | 3.44% | 3.13% | 2.69% | 2.47% | 3.04% | 2.73% | 2.68% | 1.95% | 1.98% | 2.07% | 1.66% | 1.64% | 2.33% | 2.86% | 4.05% | 3.62% | 3.78% | 3.56% |
| Other Operating Expenses | 1000K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.05M | 1.55M | 2.05M | -8.13M | 75.8M | 75M | 69M | 40.56M |
| Operating Income | 305.04M | 93.79M | -636.01M | 241.12M | 2.5B | 532.66M | 525.71M | 685.32M | 724.31M | 622.56M | 509.64M | 470.61M | 327.4M | 616.27M | 509.75M | 587.84M | 421.81M | 210.32M | 285.25M | 314.83M | 266.66M | 164.75M | 126.73M | 92.82M | 102.82M | 98.45M | 150.16M | 124.8M | 125.8M | 120.8M | 93.4M |
| Operating Margin % | 5.55% | 1.82% | -11.83% | 2.51% | 34.17% | 16.01% | 16.8% | 19.09% | 21.46% | 20.27% | 19.04% | 16.65% | 13.39% | 25.74% | 20.23% | 20.49% | 17.85% | 10.49% | 11.56% | 13.48% | 11.26% | 7.82% | 8.37% | 8.36% | 10.2% | 10.44% | 16.37% | 14.75% | 15.32% | 14.56% | 10.93% |
| Operating Income Growth % | - | 114.75% | -363.77% | -90.36% | 369.62% | 1.32% | -23.29% | -5.38% | 16.34% | 22.16% | 8.29% | 43.74% | -46.87% | 20.9% | -13.28% | 39.36% | 100.56% | -26.27% | -9.4% | 18.07% | 61.86% | 29.99% | 36.53% | -9.72% | 4.44% | -34.44% | 20.32% | -0.79% | 4.14% | 29.34% | -20.17% |
| EBITDA | 801.97M | 754.37M | -45.07M | 671.07M | 2.8B | 786.66M | 757.7M | 898.81M | 925.01M | 819.49M | 735.81M | 730.68M | 430.98M | 723.64M | 608.77M | 684.59M | 517.38M | 310.83M | 396.94M | 421.69M | 379.61M | 282.18M | 224M | 176.84M | 183.42M | 176.06M | 223.91M | 200.6M | 200.8M | 189.8M | 164.4M |
| EBITDA Margin % | 14.6% | 14.67% | -0.84% | 6.98% | 38.28% | 23.64% | 24.22% | 25.04% | 27.41% | 26.68% | 27.48% | 25.85% | 17.62% | 30.22% | 24.17% | 23.86% | 21.9% | 15.5% | 16.09% | 18.05% | 16.03% | 13.39% | 14.8% | 15.93% | 18.2% | 18.68% | 24.4% | 23.71% | 24.46% | 22.87% | 19.24% |
| EBITDA Growth % | 403.32% | 1773.84% | -106.72% | -76.05% | 256.23% | 3.82% | -15.7% | -2.83% | 12.88% | 11.37% | 0.7% | 69.54% | -40.44% | 18.87% | -11.08% | 32.32% | 66.45% | -21.69% | -5.87% | 11.08% | 34.53% | 25.97% | 26.67% | -3.59% | 4.18% | -21.37% | 11.62% | -0.1% | 5.8% | 15.45% | -22.12% |
| D&A (Non-Cash Add-back) | 496.92M | 660.58M | 590.94M | 429.94M | 300.84M | 254M | 231.98M | 213.48M | 200.7M | 196.93M | 226.17M | 260.08M | 103.57M | 107.37M | 99.02M | 96.75M | 95.58M | 100.51M | 111.69M | 106.86M | 112.95M | 117.44M | 97.27M | 84.01M | 80.6M | 77.61M | 73.75M | 75.8M | 75M | 69M | 71M |
| EBIT | 305.04M | 93.79M | -636.01M | 241.12M | 2.5B | 532.66M | 525.71M | 685.32M | 724.31M | 622.56M | 509.64M | 470.61M | 327.4M | 616.27M | 509.75M | 587.84M | 421.81M | 210.32M | 285.25M | 314.83M | 266.66M | 194.65M | 88.67M | 92.82M | 102.82M | 98.45M | 150.16M | 124.8M | 125.8M | 120.8M | 93.4M |
| Net Interest Income | -191.79M | -207.65M | -165.62M | -116.07M | -122.97M | -61.48M | -73.12M | -57.7M | -52.41M | -115.35M | -65.18M | -81.65M | -41.36M | -31.56M | -32.8M | -37.57M | -25.53M | -24.58M | -38.17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 191.79M | 207.65M | 165.62M | 116.07M | 122.97M | 61.48M | 73.12M | 57.7M | 52.41M | 115.35M | 65.18M | 81.65M | 41.36M | 31.56M | 32.8M | 37.57M | 25.53M | 24.58M | 38.17M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -404.5M | -402.12M | -412.39M | 1.86B | 704.26M | -303.27M | -24.67M | 7.2M | 159.65M | -91.28M | 65.26M | -131.88M | -78.48M | -40.11M | -97.09M | 6.54M | 8.27M | -27.72M | -78.78M | -12.43M | -108.24M | -14.82M | -54.89M | -4.77M | -1.71M | -1.25M | -2.66M | 3.9M | -3M | 100K | 159.7M |
| Pretax Income | -99.45M | -308.33M | -1.05B | 2.1B | 3.21B | 229.39M | 501.04M | 692.52M | 883.97M | 531.28M | 574.9M | 338.72M | 248.92M | 576.16M | 412.66M | 594.38M | 430.08M | 182.59M | 206.47M | 302.4M | 158.42M | 149.93M | 71.84M | 88.06M | 101.11M | 97.2M | 147.5M | 128.7M | 122.8M | 120.9M | 253.1M |
| Pretax Margin % | -1.81% | -6% | -19.5% | 21.84% | 43.79% | 6.89% | 16.01% | 19.29% | 26.19% | 17.29% | 21.47% | 11.98% | 10.18% | 24.06% | 16.38% | 20.72% | 18.2% | 9.11% | 8.37% | 12.94% | 6.69% | 7.11% | 4.75% | 7.93% | 10.03% | 10.31% | 16.08% | 15.21% | 14.96% | 14.57% | 29.62% |
| Income Tax | 182.37M | 156.88M | 87.08M | 430.28M | 390.59M | 29.45M | 54.42M | 88.16M | 144.83M | 431.82M | 96.26M | 11.13M | 18.48M | 134.44M | 80.43M | 104.13M | 87.76M | -7.03M | -6.54M | 55.08M | 2.19M | 27.59M | 17M | 13.89M | 28.09M | 29.03M | 45.73M | 39.9M | 38.1M | 40.9M | 97M |
| Effective Tax Rate % | -183.37% | -50.88% | -8.31% | 20.48% | 12.18% | 12.84% | 10.86% | 12.73% | 16.38% | 81.28% | 16.74% | 3.29% | 7.43% | 23.33% | 19.49% | 17.52% | 20.4% | -3.85% | -3.17% | 18.21% | 1.38% | 18.4% | 23.67% | 15.77% | 27.78% | 29.87% | 31% | 31% | 31.03% | 33.83% | 38.32% |
| Net Income | -232.88M | -510.63M | -1.18B | 1.57B | 2.69B | 123.67M | 375.76M | 533.23M | 693.56M | 54.85M | 643.67M | 334.91M | 133.32M | 413.17M | 311.54M | 392.11M | 315.78M | 178.37M | 194.2M | 229.69M | 142.97M | 114.87M | 54.84M | 71.94M | 73.02M | 68.17M | 101.78M | 88.8M | 84.7M | 80M | 156.1M |
| Net Margin % | -4.24% | -9.93% | -21.93% | 16.36% | 36.75% | 3.72% | 12.01% | 14.86% | 20.55% | 1.79% | 24.04% | 11.85% | 5.45% | 17.26% | 12.37% | 13.67% | 13.36% | 8.89% | 7.87% | 9.83% | 6.04% | 5.45% | 3.62% | 6.48% | 7.24% | 7.23% | 11.09% | 10.5% | 10.32% | 9.64% | 18.27% |
| Net Income Growth % | 79.58% | 56.71% | -174.96% | -41.5% | 2074.96% | -67.09% | -29.53% | -23.12% | 1164.47% | -91.48% | 92.2% | 151.21% | -67.73% | 32.62% | -20.55% | 24.17% | 77.04% | -8.15% | -15.45% | 60.66% | 24.46% | 109.46% | -23.78% | -1.47% | 7.12% | -33.02% | 14.61% | 4.84% | 5.88% | -48.75% | 99.62% |
| Net Income (Continuing) | -281.82M | -465.21M | -1.14B | 1.67B | 2.82B | 199.94M | 446.62M | 604.36M | 739.14M | 99.47M | 478.64M | 327.59M | 230.44M | 435.73M | 325.85M | 420.2M | 329.42M | 189.62M | 213.01M | 229.69M | 142.97M | 114.87M | 54.84M | 74.17M | 73.02M | 68.17M | 101.78M | 88.8M | 84.7M | 80M | 156.1M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 202.13M | 32.48M | -69.53M | 4.11M | 4.28M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 257.94M | 248.1M | 238.17M | 252.92M | 208.22M | 180.34M | 200.37M | 161.33M | 173.79M | 143.15M | 147.54M | 146.92M | 129.17M | 115.42M | 98.41M | 87.55M | 59.67M | 47.62M | 0 | 54.36M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.96 | -5.75 | -11.20 | 13.36 | 22.84 | 1.06 | 3.52 | 5.02 | 6.34 | 0.49 | 5.68 | 3.00 | 1.69 | 4.90 | 3.47 | 4.77 | 3.51 | 1.94 | 2.10 | 2.36 | 1.47 | 1.20 | 0.65 | 0.86 | 0.85 | 0.74 | 1.09 | 0.94 | 0.82 | 0.72 | 1.33 |
| EPS Growth % | 69.34% | 48.66% | -183.83% | -41.51% | 2054.72% | -69.89% | -29.88% | -20.82% | 1193.88% | -91.37% | 89.33% | 77.51% | -65.51% | 41.21% | -27.25% | 35.9% | 80.93% | -7.62% | -11.02% | 60.54% | 22.5% | 84.62% | -24.42% | 1.18% | 14.86% | -32.11% | 15.96% | 14.63% | 13.89% | -45.86% | 125.42% |
| EPS (Basic) | - | -5.75 | -11.20 | 13.41 | 22.97 | 1.07 | 3.53 | 5.03 | 6.40 | 0.49 | 5.73 | 3.01 | 1.69 | 4.93 | 3.49 | 4.82 | 3.54 | 1.95 | 2.13 | 2.41 | 1.51 | 1.24 | 0.66 | 0.87 | 0.87 | 0.75 | 1.11 | 0.95 | 0.82 | 0.73 | 1.33 |
| Diluted Shares Outstanding | 118.61M | 117.7M | 117.52M | 117.77M | 117.79M | 116.54M | 106.81M | 106.32M | 109.46M | 112.38M | 113.24M | 111.56M | 79.1M | 84.32M | 89.88M | 91.52M | 92.18M | 92.05M | 92.53M | 97.22M | 97.14M | 95.5M | 85.05M | 84.29M | 86.27M | 93.05M | 93.21M | 95.03M | 104.27M | 111.11M | 117.81M |
| Basic Shares Outstanding | 117.85M | 117.7M | 117.52M | 117.32M | 117.12M | 115.84M | 106.4M | 105.95M | 108.43M | 110.91M | 112.38M | 111.18M | 78.7M | 83.84M | 89.19M | 90.52M | 91.39M | 91.51M | 91.34M | 95.25M | 94.62M | 92.7M | 83.13M | 82.51M | 84.21M | 91.53M | 91.76M | 93.78M | 103.12M | 110.34M | 117.81M |
| Dividend Payout Ratio | - | - | - | 11.9% | 6.86% | 143.81% | 43.06% | 28.54% | 20.85% | 256.26% | 21.03% | 35.62% | 63.08% | 18.9% | 22.18% | 14.73% | 15.72% | 31.47% | 28.8% | 17.43% | 22.09% | 23.02% | 46.09% | 36.46% | 31.47% | 34.98% | 19.41% | 21.17% | 22.79% | 20.75% | 9.1% |
Lithium price volatility exposure
As reported in recent financial filings, Albemarle's revenue growth has faced significant downward pressure, culminating in a -4.37% year-over-year decline, which suggests that the company's volume-based expansion strategy is currently struggling to offset the broader collapse in realized lithium pricing across its core global segments.
The persistent revenue decline indicates that the company's reliance on commodity-linked pricing mechanisms has left it vulnerable to the recent cyclical downturn in the electric vehicle supply chain. Investors should monitor whether the current revenue trajectory reflects a structural shift in demand or merely a temporary lag in contract pricing adjustments.
Based on the latest income statement data, Albemarle's gross margin has compressed to 13.06%, a figure that highlights the company's difficulty in maintaining profitability when high-cost feedstock inventory meets a rapidly deteriorating spot price environment for its primary lithium chemical products.
The volatility in gross margins, which dipped into negative territory in late 2024, suggests that the company's cost structure is highly sensitive to commodity price swings. This margin profile warrants further investigation into the company's ability to pass through input costs during periods of industry-wide oversupply.
According to recent SEC filings, Albemarle's operating margin has contracted to 1.82%, indicating that the company's fixed-cost base is currently scaling inefficiently against a backdrop of declining gross profits and persistent overhead requirements that limit the firm's ability to achieve meaningful operating leverage.
The inability to maintain positive operating income during recent quarters suggests that the company's capital-intensive infrastructure requires a higher revenue threshold to achieve break-even status. Analysts should consider whether current SG&A levels are sustainable if the pricing environment for lithium remains depressed for an extended duration.
As indicated by the company's reported net income of -9.93% of revenue, Albemarle's bottom-line performance appears heavily impacted by non-operating items and potential inventory write-downs, which obscure the underlying cash-generating capacity of its core specialty chemical and lithium processing operations.
The significant variance between operating income and net income suggests that equity method investments and one-time charges are playing a material role in the company's reported results. Investors should be cautious of headline EPS figures, as they may not accurately reflect the operational health of the business during this cyclical trough.
Based on the provided financial data, the primary risk to the current narrative is the potential for further margin erosion if the company's reliance on external spodumene concentrate continues to outpace its internal low-cost brine production, potentially forcing a re-evaluation of its long-term competitive cost advantage.
Short-sellers may focus on the disconnect between the company's capital expenditure intensity and its current inability to generate positive net income. This suggests that the market may be overestimating the durability of the company's cost-curve position if lithium prices do not recover to support its high-cost conversion capacity.
Quick answers to the most common questions about buying ALB stock.
For fiscal year 2025, Albemarle Corporation (ALB) reported total revenue of $5.14B. This represents a 501.8% increase compared to $854.5M in 1996.
Albemarle Corporation (ALB) reported a net loss of $510.6M for the fiscal year ending 2025.
Albemarle Corporation (ALB) reported an operating income of $93.8M, resulting in an operating profit margin of 1.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Albemarle Corporation (ALB) generated $671.6M in gross profit for the year, representing a gross profit margin of 13.1%. This demonstrates the company's core pricing power and production efficiency.