Operating margins exhibit significant sensitivity to seasonal demand, fluctuating from a negative 20% in 2024Q3 to a peak of 28.4% in 2025Q2.
| 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 |
|---|
| Sales/Revenue | 17.89B | 17.4B | 16.91B | 17.23B | 17.45B | 15.65B | 14.22B | 13.85B | 14.29B | 24.35B | 14.04B | 25.12B | 28.39B | 29B | 34.79B | 33.7B | 31.5B | 26.14B | 30.53B | 29.38B | 27.42B | 26.64B | 27.34B |
| Revenue Growth % | 6.27% | 2.92% | -1.85% | -1.31% | 11.5% | 10.11% | 2.68% | -3.09% | -41.32% | 73.39% | -44.11% | -11.52% | -2.08% | -16.65% | 3.25% | 6.95% | 20.52% | -14.37% | 3.92% | 7.14% | 2.94% | -2.56% | - |
| Cost of Goods Sold | 7.11B | 9.65B | 9.53B | 9.92B | 10.44B | 9.22B | 8.51B | 8.57B | 8.52B | 8.4B | 8.39B | 15.09B | 16.97B | 17.66B | 25.64B | 24.8B | 23.15B | 19.54B | 23.32B | 21.78B | 20.21B | 19.77B | 20.64B |
| COGS % of Revenue | - | 55.44% | 56.36% | 57.59% | 59.79% | 58.89% | 59.84% | 61.93% | 59.64% | 34.51% | 59.76% | 60.06% | 59.77% | 60.89% | 73.69% | 73.58% | 73.47% | 74.75% | 76.39% | 74.13% | 73.71% | 74.22% | 75.49% |
| Gross Profit | 5.88B | 7.75B | 7.38B | 7.31B | 7.02B | 6.43B | 5.71B | 5.27B | 5.77B | 5.84B | 5.65B | 10.04B | 11.42B | 11.34B | 9.15B | 8.9B | 8.47B | 6.6B | 7.21B | 7.6B | 7.21B | 6.87B | 6.7B |
| Gross Margin % | 32.85% | 44.56% | 43.64% | 42.41% | 40.21% | 41.11% | 40.16% | 38.07% | 40.36% | 23.98% | 40.24% | 39.94% | 40.23% | 39.11% | 26.31% | 26.42% | 26.88% | 25.25% | 23.61% | 25.87% | 26.29% | 25.78% | 24.51% |
| Gross Profit Growth % | - | 5.08% | 1% | 4.09% | 9.08% | 12.7% | 8.33% | -8.58% | -1.23% | 3.33% | -43.7% | -12.15% | 0.72% | 23.89% | 2.84% | 5.13% | 28.29% | -8.44% | -5.16% | 5.44% | 4.95% | 2.49% | - |
| Operating Expenses | 5.09B | 4.97B | 5.28B | 5.2B | 5.09B | 5.12B | 4.87B | 4.69B | 4.48B | 5.65B | 4.76B | 7.14B | 7.49B | 8.6B | 5.65B | 5.27B | 5.32B | 4.82B | 4.99B | 4.69B | 4.53B | 4.56B | 4.47B |
| OpEx % of Revenue | - | 28.54% | 31.25% | 30.16% | 29.17% | 32.69% | 34.23% | 33.85% | 31.33% | 23.21% | 33.93% | 28.44% | 26.39% | 29.66% | 16.24% | 15.63% | 16.89% | 18.43% | 16.33% | 15.96% | 16.51% | 17.11% | 16.36% |
| Selling, General & Admin | 3.61B | 3.49B | 3.2B | 3.18B | 3.17B | 3.21B | 3.04B | 3.06B | 2.9B | 2.97B | 2.94B | 4.61B | 4.89B | 5.34B | 3.53B | 3.36B | 3.67B | 3.44B | 3.59B | 3.35B | 3.22B | 3.22B | 3.14B |
| SG&A % of Revenue | - | 20.07% | 18.9% | 18.44% | 18.18% | 20.5% | 21.4% | 22.14% | 20.31% | 12.21% | 20.92% | 18.33% | 17.22% | 18.42% | 10.14% | 9.97% | 11.65% | 13.16% | 11.77% | 11.41% | 11.76% | 12.1% | 11.49% |
| Research & Development | 1.48B | 1.47B | 1.4B | 1.34B | 1.22B | 1.19B | 1.14B | 1.15B | 1.43B | 1.51B | 1.51B | 1.9B | 1.96B | 2.04B | 2.12B | 1.91B | 1.65B | 1.38B | 1.39B | 1.34B | 1.3B | 1.34B | 1.33B |
| R&D % of Revenue | - | 8.47% | 8.29% | 7.76% | 6.97% | 7.58% | 8.03% | 8.28% | 10.02% | 6.2% | 10.73% | 7.55% | 6.9% | 7.02% | 6.1% | 5.67% | 5.24% | 5.27% | 4.56% | 4.55% | 4.75% | 5.02% | 4.88% |
| Other Operating Expenses | 1000K | 0 | 685M | 683M | 702M | 722M | 682M | 475M | 142M | 1.17B | 320M | 641M | 645M | 1.22B | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 2.72B | 2.79B | 2.1B | 2.11B | 1.93B | 1.32B | 843M | 584M | -448M | 1.84B | 886M | 2.89B | 3.93B | 2.74B | 3.5B | 3.63B | 3.15B | 1.78B | 2.22B | 2.91B | 2.68B | 2.31B | 2.23B |
| Operating Margin % | 15.23% | 16.02% | 12.4% | 12.25% | 11.05% | 8.41% | 5.93% | 4.22% | -3.14% | 7.57% | 6.31% | 11.51% | 13.84% | 9.45% | 10.07% | 10.78% | 9.99% | 6.82% | 7.28% | 9.91% | 9.78% | 8.67% | 8.15% |
| Operating Income Growth % | - | 33.02% | -0.66% | 9.44% | 46.39% | 56.23% | 44.35% | 230.36% | -124.32% | 107.9% | -69.35% | -26.42% | 43.39% | -21.8% | -3.55% | 15.44% | 76.6% | -19.8% | -23.64% | 8.5% | 16.15% | 3.68% | - |
| EBITDA | 3.63B | 3.99B | 3.32B | 3.32B | 3.15B | 2.56B | 2.02B | 2.18B | 461M | 3.41B | 2.14B | 4.23B | 5.55B | 4.34B | 5.22B | 5.19B | 4.53B | 3.29B | 3.67B | 4.28B | 4.07B | 3.67B | 3.57B |
| EBITDA Margin % | 20.3% | 22.94% | 19.65% | 19.28% | 18.05% | 16.35% | 14.21% | 15.77% | 3.23% | 13.99% | 15.27% | 16.83% | 19.53% | 14.98% | 15% | 15.41% | 14.37% | 12.57% | 12.01% | 14.57% | 14.83% | 13.77% | 13.07% |
| EBITDA Growth % | 4.4% | 20.1% | 0.06% | 5.4% | 23.09% | 26.73% | -7.47% | 373.54% | -86.47% | 58.86% | -49.3% | -23.75% | 27.7% | -16.75% | 0.46% | 14.71% | 37.81% | -10.39% | -14.37% | 5.29% | 10.88% | 2.6% | - |
| D&A (Non-Cash Add-back) | 907M | 1.2B | 1.23B | 1.21B | 1.22B | 1.24B | 1.18B | 1.6B | 909M | 1.56B | 1.26B | 1.34B | 1.62B | 1.6B | 1.71B | 1.56B | 1.38B | 1.5B | 1.44B | 1.37B | 1.38B | 1.36B | 1.35B |
| EBIT | 2.09B | 2.79B | 1.51B | 1.33B | 1.5B | 2.38B | 720M | -180M | -6.47B | 566M | 3.09B | 2.91B | 4.66B | 2.99B | 3.54B | 4.25B | 4.12B | 2.59B | 2.77B | 4.17B | 3.79B | 4.08B | 1.8B |
| Net Interest Income | -76M | -44M | -101M | 50M | 45M | 47M | 11M | -77M | -251M | -74M | -101M | -192M | -220M | -286M | -344M | -363M | -318M | -317M | -238M | -276M | -241M | -274M | -174M |
| Interest Income | 104M | 136M | 132M | 283M | 124M | 77M | 56M | 59M | 86M | 0 | 0 | 129M | 129M | 136M | 109M | 110M | 93M | 91M | 138M | 154M | 219M | 244M | 188M |
| Interest Expense | 180M | 180M | 233M | 233M | 79M | 30M | 45M | 136M | 337M | 74M | 101M | 321M | 349M | 422M | 453M | 473M | 411M | 408M | 376M | 430M | 460M | 518M | 362M |
| Other Income/Expense | -962M | -1.1B | -821M | -1.02B | -502M | 1.03B | -168M | -900M | -6.36B | -1.64B | -628M | -300M | 384M | -174M | -416M | 148M | 564M | 402M | 169M | 833M | 647M | 1.25B | -785M |
| Pretax Income | 1.76B | 1.69B | 1.27B | 1.09B | 1.43B | 2.35B | 675M | -316M | -6.81B | 205M | 258M | 2.59B | 4.31B | 2.57B | 3.09B | 3.78B | 3.71B | 2.18B | 2.39B | 3.74B | 3.33B | 3.56B | 1.44B |
| Pretax Margin % | 9.85% | 9.7% | 7.54% | 6.35% | 8.17% | 14.99% | 4.75% | -2.28% | -47.64% | 0.84% | 1.84% | 10.31% | 15.19% | 8.85% | 8.88% | 11.22% | 11.78% | 8.35% | 7.82% | 12.74% | 12.14% | 13.36% | 5.27% |
| Income Tax | 500M | 484M | 412M | 152M | 210M | 524M | -81M | -46M | -31M | -2.52B | -270M | 696M | 1.17B | 360M | 616M | 626M | 659M | 415M | 381M | 748M | 196M | 1.47B | -329M |
| Effective Tax Rate % | 28.38% | 28.67% | 32.31% | 13.91% | 14.73% | 22.34% | -12% | 14.56% | 0.46% | -1231.22% | -104.65% | 26.86% | 27.08% | 14.03% | 19.95% | 16.56% | 17.76% | 19% | 15.95% | 19.98% | 5.89% | 41.26% | -22.82% |
| Net Income | 1.17B | 1.1B | 907M | 735M | 1.15B | 1.76B | 681M | -959M | -5.05B | 2.53B | 503M | 1.95B | 3.63B | 4.85B | 2.75B | 3.47B | 3.03B | 1.75B | 2.01B | 2.99B | 3.15B | 2.05B | 1.78B |
| Net Margin % | 6.54% | 6.34% | 5.36% | 4.27% | 6.57% | 11.24% | 4.79% | -6.93% | -35.38% | 10.41% | 3.58% | 7.77% | 12.77% | 16.72% | 7.92% | 10.31% | 9.62% | 6.71% | 6.57% | 10.17% | 11.48% | 7.71% | 6.51% |
| Net Income Growth % | 2.63% | 21.72% | 23.4% | -35.92% | -34.79% | 158.3% | 171.01% | 81.03% | -299.49% | 403.78% | -74.24% | -46.12% | -25.23% | 75.97% | -20.7% | 14.62% | 72.71% | -12.56% | -32.83% | -5.08% | 53.34% | 15.34% | - |
| Net Income (Continuing) | 1.26B | 1.2B | 863M | 941M | 1.22B | 1.82B | 756M | -270M | -6.78B | 2.73B | 528M | 1.9B | 3.15B | 2.21B | 2.47B | 3.15B | 3.05B | 1.77B | 2.01B | 3B | 3.13B | 2.09B | 1.77B |
| Discontinued Operations | -3M | -99M | 56M | -194M | -58M | -53M | -55M | -671M | 1.75B | 0 | 0 | 64M | 491M | 2.66B | 308M | 355M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 243M | 242M | 241M | 242M | 239M | 239M | 239M | 246M | 493M | 172M | 198M | 207M | 0 | 57M | 0 | 469M | 465M | 436M | 0 | 442M | 0 | 0 | 0 |
| EPS (Diluted) | - | 1.60 | 1.30 | 0.84 | 0.00 | 0.02 | 0.02 | 0.02 | -5.75 | 2.92 | 0.58 | 2.16 | 3.92 | 5.18 | 2.91 | 3.68 | 3.28 | 1.92 | 2.20 | 3.22 | 3.38 | 2.07 | 1.77 |
| EPS Growth % | 65.92% | 23.08% | 54.76% | - | -100% | 0% | 0% | 100.35% | -296.92% | 403.45% | -73.15% | -44.9% | -24.32% | 78.01% | -20.92% | 12.2% | 70.83% | -12.73% | -31.68% | -4.73% | 63.29% | 16.95% | - |
| EPS (Basic) | - | 1.60 | 1.31 | 0.84 | 0.00 | 0.02 | 0.02 | 0.02 | -5.75 | 2.92 | 0.58 | 2.17 | 3.95 | 5.22 | 2.94 | 3.73 | 3.32 | 1.93 | 2.21 | 3.25 | 3.41 | 2.08 | 1.78 |
| Diluted Shares Outstanding | 0 | 0 | 867.81M | 867.81M | 0 | 749.5M | 749.5M | 749.5M | 867.81M | 867.81M | 867.81M | 899.53M | 921.87M | 933.15M | 942.2M | 941.03M | 921.65M | 908.71M | 907.37M | 925.4M | 928.6M | 988.95M | 1B |
| Basic Shares Outstanding | 0 | 0 | 867.81M | 867.81M | 0 | 749.5M | 749.5M | 749.5M | 867.81M | 867.81M | 867.81M | 893.99M | 914.75M | 925.98M | 933.27M | 928.42M | 908.86M | 904.39M | 902.41M | 917.13M | 921.47M | 982.19M | 997.62M |
| Dividend Payout Ratio | - | 43.03% | 50.5% | 59.73% | 36.44% | 22.57% | 56.97% | - | - | 39.38% | 265.41% | 79.16% | 46.79% | 34.26% | 57.86% | 44.13% | 49.52% | 85.01% | 74.04% | 47.16% | 43.77% | 70.09% | 78.31% |
Seasonal Revenue Concentration Risk
According to the provided quarterly income statements, EIDP exhibits a highly cyclical revenue pattern, with 2026Q1 revenue reaching $4.9 billion, representing an 11% year-over-year growth rate that highlights the company's heavy reliance on the Northern Hemisphere planting season for its primary top-line performance.
The revenue trajectory appears heavily skewed toward the first half of the fiscal year, which complicates the assessment of underlying organic growth trends. Investors should monitor whether the 11% growth in 2026Q1 reflects genuine market share gains or merely a shift in the timing of farmer purchasing decisions.
As reported in financial statements, gross margins fluctuate significantly between 32.7% and 54.6% depending on the quarter, suggesting that the company's product mix and pricing power are deeply tied to the specific timing of seed and chemical application cycles throughout the agricultural calendar.
The wide variance in gross margins indicates that the company's profitability is highly sensitive to the volume of high-margin seed sales during peak planting months. This volatility warrants further investigation into whether the company can maintain pricing power during off-peak periods when lower-margin crop protection products dominate the sales mix.
Based on EIDP's reported figures, operating margins have swung from a negative 20% in 2024Q3 to a positive 28.4% in 2025Q2, indicating that the company's fixed cost base creates significant operating leverage that amplifies bottom-line results during high-volume quarters while pressuring earnings during the off-season.
The inability to consistently scale operating income relative to gross profit during lower-revenue quarters suggests a rigid cost structure that may be difficult to optimize. This operational profile implies that the company's profitability is inherently tied to its ability to maximize throughput during the narrow window of the planting season.
Data from recent filings suggests that net income volatility, including significant losses in Q3 and Q4 periods, may obscure the underlying earnings quality, as the company's reliance on seasonal cash flows creates periodic accounting distortions that do not necessarily reflect long-term operational health or competitive positioning.
The recurring net losses in the latter half of the year raise questions about the sustainability of the company's cost structure during non-planting months. Investors should monitor whether these seasonal deficits are being adequately offset by the high-margin performance of the first half or if they represent a structural drag on annual profitability.
Quick answers to the most common questions about buying CTA-PA stock.
For fiscal year 2025, EIDP, Inc. (CTA-PA) reported total revenue of $17.40B. This represents a 36.4% decline compared to $27.34B in 2004.
EIDP, Inc. (CTA-PA) is profitable, generating $1.10B in net income for the fiscal year ending 2025 with a net profit margin of 6.3%.
EIDP, Inc. (CTA-PA) reported an operating income of $2.79B, resulting in an operating profit margin of 16.0%. This margin reflects the operational efficiency of the business before interest and taxes.
EIDP, Inc. (CTA-PA) generated $7.75B in gross profit for the year, representing a gross profit margin of 44.6%. This demonstrates the company's core pricing power and production efficiency.