Revenue has hovered between about $1.3B and $1.6B with operating margin swinging from 8.4% in Q2 2024 to -19.5% in Q4 2025, indicating that gross profit gains are not reliably converting into operating income.
The Chemours Company (CC) annual income statement — 14-year revenue, gross profit & net income history
| 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 |
|---|
| Sales/Revenue | 5.84B | 5.81B | 5.78B | 6.08B | 6.83B | 6.34B | 4.97B | 5.53B | 6.64B | 6.18B | 5.4B | 5.72B | 6.43B | 6.86B | 7.37B |
| Revenue Growth % | -0.51% | 0.45% | -4.87% | -11.02% | 7.66% | 27.69% | -10.08% | -16.75% | 7.36% | 14.5% | -5.54% | -11.12% | -6.23% | -6.87% | - |
| Cost of Goods Sold | 4.96B | 4.91B | 4.63B | 4.77B | 5.21B | 4.96B | 3.9B | 4.46B | 4.67B | 4.43B | 4.29B | 4.76B | 5.07B | 5.39B | 5.01B |
| COGS % of Revenue | - | 84.47% | 80.09% | 78.51% | 76.34% | 78.23% | 78.53% | 80.76% | 70.31% | 71.63% | 79.44% | 83.3% | 78.86% | 78.66% | 68.08% |
| Gross Profit | 885M | 902M | 1.15B | 1.31B | 1.62B | 1.38B | 1.07B | 1.06B | 1.97B | 1.75B | 1.11B | 955M | 1.36B | 1.46B | 2.35B |
| Gross Margin % | 15.15% | 15.53% | 19.91% | 21.49% | 23.66% | 21.77% | 21.47% | 19.24% | 29.69% | 28.37% | 20.56% | 16.7% | 21.14% | 21.34% | 31.92% |
| Gross Profit Growth % | - | -21.63% | -11.87% | -19.18% | 17.02% | 29.43% | 0.38% | -46.07% | 12.37% | 58.02% | 16.23% | -29.78% | -7.1% | -37.73% | - |
| Operating Expenses | 1.06B | 907M | 708M | 1.43B | 830M | 707M | 619M | 616M | 739M | 682M | 1.01B | 729M | 828M | 932M | 892M |
| OpEx % of Revenue | - | 15.62% | 12.24% | 23.51% | 12.15% | 11.14% | 12.46% | 11.15% | 11.13% | 11.03% | 18.78% | 12.75% | 12.87% | 13.59% | 12.11% |
| Selling, General & Admin | 776M | 799M | 585M | 1.29B | 710M | 592M | 0 | 0 | 657M | 602M | 934M | 632M | 685M | 768M | 747M |
| SG&A % of Revenue | - | 13.76% | 10.12% | 21.22% | 10.39% | 9.33% | - | - | 9.9% | 9.74% | 17.3% | 11.05% | 10.65% | 11.2% | 10.14% |
| Research & Development | 104M | 108M | 109M | 108M | 118M | 107M | 93M | 80M | 82M | 80M | 80M | 97M | 143M | 164M | 145M |
| R&D % of Revenue | - | 1.86% | 1.89% | 1.78% | 1.73% | 1.69% | 1.87% | 1.45% | 1.24% | 1.29% | 1.48% | 1.7% | 2.22% | 2.39% | 1.97% |
| Other Operating Expenses | 1000K | 0 | 14M | 31M | 2M | 8M | 526M | 536M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -179M | -5M | 443M | -123M | 786M | 674M | 448M | 447M | 1.23B | 1.07B | 96M | 226M | 532M | 532M | 1.46B |
| Operating Margin % | -3.06% | -0.09% | 7.66% | -2.02% | 11.51% | 10.62% | 9.02% | 8.09% | 18.56% | 17.34% | 1.78% | 3.95% | 8.27% | 7.76% | 19.81% |
| Operating Income Growth % | - | -101.13% | 460.16% | -115.65% | 16.62% | 50.45% | 0.22% | -63.72% | 14.93% | 1016.67% | -57.52% | -57.52% | 0% | -63.54% | - |
| EBITDA | 242M | 335M | 744M | 184M | 1.08B | 991M | 768M | 715M | 1.52B | 1.34B | 380M | 493M | 789M | 793M | 1.73B |
| EBITDA Margin % | 4.14% | 5.77% | 12.87% | 3.03% | 15.77% | 15.62% | 15.46% | 12.94% | 22.84% | 21.75% | 7.04% | 8.62% | 12.27% | 11.56% | 23.42% |
| EBITDA Growth % | -63% | -54.97% | 304.35% | -82.92% | 8.68% | 29.04% | 7.41% | -52.84% | 12.71% | 253.95% | -22.92% | -37.52% | -0.5% | -54.03% | - |
| D&A (Non-Cash Add-back) | 238M | 340M | 301M | 307M | 291M | 317M | 320M | 268M | 284M | 273M | 284M | 267M | 257M | 261M | 266M |
| EBIT | -232M | -8M | 391M | -110M | 904M | 861M | 447M | 447M | 1.26B | 1.13B | 208M | 226M | 532M | 532M | 1.46B |
| Net Interest Income | -274M | -269M | -264M | -208M | -163M | -185M | -210M | -208M | -195M | -214M | -219M | -132M | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 274M | 269M | 264M | 208M | 163M | 185M | 210M | 208M | 195M | 215M | 219M | 132M | 0 | 0 | 0 |
| Other Income/Expense | 233M | -272M | -316M | -195M | -45M | 2M | -269M | -427M | -77M | -160M | -107M | -414M | 18M | 44M | 26M |
| Pretax Income | 54M | -277M | 127M | -318M | 741M | 676M | 179M | 20M | 1.16B | 912M | -11M | -188M | 550M | 576M | 1.49B |
| Pretax Margin % | 0.92% | -4.77% | 2.2% | -5.23% | 10.85% | 10.65% | 3.6% | 0.36% | 17.4% | 14.75% | -0.2% | -3.29% | 8.55% | 8.4% | 20.16% |
| Income Tax | 223M | 109M | 41M | -81M | 163M | 68M | -40M | 72M | 159M | 165M | -18M | -98M | 149M | 152M | 427M |
| Effective Tax Rate % | 412.96% | -39.35% | 32.28% | 25.47% | 22% | 10.06% | -22.35% | 360% | 13.77% | 18.09% | 163.64% | 52.13% | 27.09% | 26.39% | 28.75% |
| Net Income | -168M | -386M | 86M | -238M | 578M | 608M | 219M | -52M | 995M | 746M | 7M | -90M | 400M | 423M | 1.06B |
| Net Margin % | -2.88% | -6.65% | 1.49% | -3.92% | 8.46% | 9.58% | 4.41% | -0.94% | 14.99% | 12.07% | 0.13% | -1.57% | 6.22% | 6.17% | 14.35% |
| Net Income Growth % | 49.55% | -548.84% | 136.13% | -141.18% | -4.93% | 177.63% | 521.15% | -105.23% | 33.38% | 10557.14% | 107.78% | -122.5% | -5.44% | -59.98% | - |
| Net Income (Continuing) | -169M | -386M | 86M | -237M | 578M | 608M | 219M | -52M | 996M | 747M | 7M | -90M | 401M | 424M | 1.06B |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 1M | 1M | 1M | 2M | 0 | 1M | 2M | 6M | 6M | 5M | 4M | 4M | 4M | 3M | 2M |
| EPS (Diluted) | -1.11 | -2.56 | 0.57 | -1.60 | 3.65 | 3.60 | 1.32 | -0.32 | 5.45 | 3.91 | 0.04 | -0.50 | 2.19 | 2.31 | 5.78 |
| EPS Growth % | 50.45% | -549.12% | 135.63% | -143.84% | 1.39% | 172.73% | 512.5% | -105.87% | 39.39% | 9675% | 108% | -122.83% | -5.19% | -60.03% | - |
| EPS (Basic) | - | -2.57 | 0.58 | -1.60 | 3.72 | 3.69 | 1.33 | -0.32 | 5.62 | 4.04 | 0.04 | -0.50 | 2.21 | 2.33 | 5.83 |
| Diluted Shares Outstanding | 151.91M | 150.55M | 150.01M | 148.91M | 158.3M | 168.7M | 166.35M | 164.82M | 182.57M | 190.98M | 183.42M | 180.99M | 182.76M | 182.76M | 182.76M |
| Basic Shares Outstanding | 151.33M | 150.35M | 149.49M | 148.91M | 155.36M | 164.94M | 164.68M | 164.82M | 176.97M | 184.84M | 181.62M | 180M | 181.37M | 181.37M | 181.37M |
| Dividend Payout Ratio | - | - | 172.09% | - | 26.64% | 26.97% | 74.89% | - | 14.87% | 2.95% | 314.29% | - | - | - | - |
Quick answers to the most common questions about buying CC stock.
For fiscal year 2025, The Chemours Company (CC) reported total revenue of $5.81B. This represents a 21.1% decline compared to $7.37B in 2012.
The Chemours Company (CC) reported a net loss of $386.0M for the fiscal year ending 2025.
The Chemours Company (CC) reported an operating income of $-5.0M, resulting in an operating profit margin of -0.1%. This margin reflects the operational efficiency of the business before interest and taxes.
The Chemours Company (CC) generated $902.0M in gross profit for the year, representing a gross profit margin of 15.5%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Volatile TiO2 earnings and PFAS exposure
Metrics are mathematically derived from official filings.
Revenue Oscillating Around a Flat Base
Based on the reported quarterly figures, Chemours' revenue has hovered between roughly $1.3B and $1.6B across the ten periods shown, with year-over-year growth swinging from about -4.6% to +4.0% and no sustained acceleration evident.
The pattern suggests revenue is tracking the cyclical Titanium Technologies pricing and volume cycle more than any structural expansion in the higher-margin segments. The Q3 2026 reading of 3.0% growth is the first clearly positive print in the recent sequence, but a single quarter is insufficient to establish durability. Investors should monitor whether Thermal & Specialized Solutions growth can offset weakness in pigment volumes.
Gross Margin Compression Versus Peak Levels
Gross margin has declined from roughly 19.8% in Q2 2024 to 11.5% in Q4 2025 before recovering to 15.0% in Q3 2026, indicating that pricing power in the commoditized pigment business remains uneven across the cycle.
The magnitude of compression implies that feedstock and energy cost pass-through has lagged, or that volume deleveraging on a high fixed-cost base has weighed on unit economics. The partial recovery in the latest quarter is encouraging but still well below the 2024 range. The margin trajectory appears more consistent with a commodity-exposed profile than with a differentiated specialty chemicals franchise.
Operating Leverage Works Against Recent Quarters
Operating margin swung from 8.4% in Q2 2024 to -19.5% in Q4 2025 and -13.4% in Q2 2026 on reported figures, with gross profit movements failing to translate into proportionate operating income.
Because the cost base is largely fixed, a decline in gross profit should produce a magnified fall in operating income, which is consistent with the data. The reported SG&A and R&D lines are relatively stable, suggesting that the operating deterioration is driven by items below gross profit, potentially including restructuring or litigation-related charges. The reconciliation of these items is necessary before drawing conclusions about underlying operating efficiency.
Net Income Driven by Non-Operating Swings
Net income moved from $196.0M in Q3 2026 to -$274.0M in Q2 2026 and -$381.0M in Q2 2025, a dispersion far larger than the gross profit variation over the same periods, suggesting material non-operating or one-time items.
The divergence between operating income and net income in several quarters, for example Q3 2026 where operating income of $229.0M and net income of $196.0M are closely aligned but Q2 2026 shows a much larger net loss, points to items affecting the bottom line beyond core operations. Stock-based compensation remains small relative to revenue, so it does not appear to explain the variance. Investors should treat reported EPS with caution until the nature of these charges is clarified, and should consider whether reported figures reflect recurring or episodic costs.
Bear Case Centers on Repeated Losses
The strongest bear argument is that five of the ten reported quarters show negative net income, with the most recent large loss occurring alongside an EPS of -$1.81 against consensus expectations of roughly -$0.04, implying persistent earnings volatility rather than a temporary trough.
Short-side analysis would likely focus on whether recurring environmental and litigation-related charges are being treated as non-recurring when they may in fact be a structural cost of the legacy portfolio. Peer data show Tronox and Kronos also reporting negative net margins, which suggests sector-wide pressure, though CC's loss magnitude in several quarters is larger. Any further deterioration in TiO2 pricing would compound these risks and warrants close monitoring of the next reporting cycle.