Revenue growth remains inconsistent at 8.6% in 2026Q1, while gross margins have compressed significantly from a 35.2% peak in 2025Q1 due to input cost sensitivity.
| 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 | 3.67B | 3.59B | 3.72B | 3.72B | 4.31B | 4.41B | 2.65B | 3.28B | 4.48B | 3.06B | 2B | 2.23B | 3.22B | 3.02B | 2.54B | 2.61B | 1.97B | 1.2B | 2.31B | 2.27B | 2.11B | 1.66B | 1.72B | 1.39B | 1.01B | 1.15B | 1.06B | 694.9M | 720.9M | 1.3B | 945.71M |
| Revenue Growth % | -0.92% | -3.51% | -0.1% | -13.63% | -2.34% | 66.59% | -19.29% | -26.75% | 46.46% | 53.15% | -10.21% | -30.95% | 6.59% | 18.93% | -2.51% | 32.62% | 64.13% | -48.23% | 2.1% | 7.51% | 27.15% | -3.57% | 23.31% | 38.23% | -12.2% | 8.26% | 52.72% | -3.61% | -44.52% | 37.4% | -24.32% |
| Cost of Goods Sold | 2.87B | 2.68B | 3.01B | 3.07B | 3.45B | 3.34B | 2.03B | 2.5B | 3.14B | 2.01B | 1.49B | 1.65B | 2.13B | 1.92B | 1.82B | 1.9B | 1.69B | 1.06B | 1.95B | 1.61B | 1.31B | 1.21B | 1.29B | 1B | 739.16M | 910.6M | 756.25M | 689.2M | 703.9M | 930.9M | 734.17M |
| COGS % of Revenue | - | 74.67% | 80.9% | 82.4% | 79.93% | 75.65% | 76.76% | 76.25% | 70.08% | 65.73% | 74.67% | 73.98% | 66.22% | 63.41% | 71.68% | 72.97% | 86.18% | 88.16% | 84.28% | 71.22% | 62.05% | 72.76% | 74.74% | 71.92% | 73.27% | 79.25% | 71.26% | 99.18% | 97.64% | 71.64% | 77.63% |
| Gross Profit | 796.5M | 909.09M | 710.42M | 655.4M | 865.09M | 1.08B | 615.94M | 779.84M | 1.34B | 1.05B | 506.27M | 579.18M | 1.09B | 1.11B | 720.02M | 704.96M | 271.72M | 141.83M | 363.8M | 652.34M | 800.08M | 451.69M | 434.39M | 391.6M | 269.64M | 238.36M | 305.02M | 5.7M | 17M | 368.5M | 211.54M |
| Gross Margin % | 21.72% | 25.33% | 19.1% | 17.6% | 20.07% | 24.35% | 23.24% | 23.75% | 29.92% | 34.27% | 25.33% | 26.02% | 33.78% | 36.59% | 28.32% | 27.03% | 13.82% | 11.84% | 15.72% | 28.78% | 37.95% | 27.24% | 25.26% | 28.08% | 26.73% | 20.75% | 28.74% | 0.82% | 2.36% | 28.36% | 22.37% |
| Gross Profit Growth % | - | 27.96% | 8.39% | -24.24% | -19.53% | 74.54% | -21.02% | -41.85% | 27.86% | 107.17% | -12.59% | -46.81% | -1.58% | 53.67% | 2.14% | 159.45% | 91.58% | -61.02% | -44.23% | -18.46% | 77.13% | 3.98% | 10.93% | 45.23% | 13.12% | -21.85% | 5251.28% | -66.47% | -95.39% | 74.2% | -47.25% |
| Operating Expenses | 459.79M | 446.01M | 385.7M | 391.83M | 372.42M | 363.08M | 668.39M | 640.39M | 511.42M | 572.37M | 510.32M | 406.32M | 434.07M | 571.25M | 417.74M | 360.91M | 137.21M | 117.59M | 107.13M | 112.43M | 106.83M | 132.35M | 78.7M | -44.24M | -4.1M | 124.64M | 109.97M | 111.5M | 106.8M | 117.1M | 114.05M |
| OpEx % of Revenue | - | 12.43% | 10.37% | 10.52% | 8.64% | 8.22% | 25.22% | 19.5% | 11.41% | 18.7% | 25.54% | 18.26% | 13.47% | 18.89% | 16.43% | 13.84% | 6.98% | 9.81% | 4.63% | 4.96% | 5.07% | 7.98% | 4.58% | -3.17% | -0.41% | 10.85% | 10.36% | 16.05% | 14.81% | 9.01% | 12.06% |
| Selling, General & Admin | 0 | 0 | 0 | 0 | 0 | 210.85M | 246.78M | 184.17M | 182.52M | 243.71M | 204.76M | 113.63M | 124.11M | 274.46M | 178.88M | 130.51M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| SG&A % of Revenue | - | - | - | - | - | 4.78% | 9.31% | 5.61% | 4.07% | 7.96% | 10.25% | 5.11% | 3.85% | 9.08% | 7.04% | 5% | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Research & Development | 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 |
| R&D % of Revenue | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 4M | 446.01M | 385.7M | 391.83M | 372.42M | 152.24M | 421.61M | 456.22M | 328.9M | 328.67M | 305.56M | 292.69M | 309.96M | 296.79M | 238.86M | 230.4M | 137.21M | 117.59M | 107.13M | 112.43M | 106.83M | 132.35M | 78.7M | -44.24M | -4.1M | 124.64M | 109.97M | 111.5M | 106.8M | 117.1M | 114.05M |
| Operating Income | 336.71M | 463.08M | 324.72M | 263.57M | 492.67M | 711.97M | -52.45M | 189.45M | 829.62M | 476.47M | 28.45M | 237.85M | 696.84M | 476.53M | -59.23M | 344.05M | 156.73M | 24.24M | 223.3M | 539.91M | 693.25M | 319.34M | 355.69M | 296.49M | 158.35M | 113.72M | 195.05M | -105.8M | -89.8M | 251.4M | 97.49M |
| Operating Margin % | 9.18% | 12.9% | 8.73% | 7.08% | 11.43% | 16.13% | -1.98% | 5.77% | 18.51% | 15.57% | 1.42% | 10.69% | 21.62% | 15.76% | -2.33% | 13.19% | 7.97% | 2.02% | 9.65% | 23.82% | 32.88% | 19.26% | 20.69% | 21.26% | 15.7% | 9.9% | 18.38% | -15.23% | -12.46% | 19.35% | 10.31% |
| Operating Income Growth % | - | 42.61% | 23.2% | -46.5% | -30.8% | 1457.42% | -127.69% | -77.16% | 74.12% | 1574.99% | -88.04% | -65.87% | 46.23% | 904.47% | -117.22% | 119.52% | 546.64% | -89.15% | -58.64% | -22.12% | 117.08% | -10.22% | 19.97% | 87.24% | 39.24% | -41.7% | 284.36% | -17.82% | -135.72% | 157.87% | -67.87% |
| EBITDA | 796.5M | 909.09M | 710.42M | 655.4M | 865.09M | 1.08B | 304.68M | 533.58M | 1.07B | 708.69M | 256.5M | 432.7M | 839.58M | 599.86M | 90.18M | 500.72M | 293.94M | 141.83M | 330.43M | 652.34M | 800.08M | 410.57M | 434.39M | 391.6M | 269.64M | 227.44M | 305.02M | 5.7M | 17M | 368.5M | 211.54M |
| EBITDA Margin % | 21.72% | 25.33% | 19.1% | 17.6% | 20.07% | 24.35% | 11.5% | 16.25% | 23.98% | 23.16% | 12.84% | 19.44% | 26.05% | 19.84% | 3.55% | 19.2% | 14.95% | 11.84% | 14.28% | 28.78% | 37.95% | 24.76% | 25.26% | 28.08% | 26.73% | 19.79% | 28.74% | 0.82% | 2.36% | 28.36% | 22.37% |
| EBITDA Growth % | -5.95% | 27.96% | 8.39% | -24.24% | -19.53% | 252.85% | -42.9% | -50.36% | 51.68% | 176.29% | -40.72% | -48.46% | 39.96% | 565.21% | -81.99% | 70.35% | 107.25% | -57.08% | -49.35% | -18.46% | 94.87% | -5.48% | 10.93% | 45.23% | 18.55% | -25.44% | 5251.28% | -66.47% | -95.39% | 74.2% | -47.25% |
| D&A (Non-Cash Add-back) | 459.79M | 446.01M | 385.7M | 391.83M | 372.42M | 363.08M | 357.13M | 344.13M | 245.3M | 232.22M | 228.05M | 194.85M | 142.74M | 123.33M | 149.41M | 156.67M | 137.21M | 117.59M | 107.13M | 112.43M | 106.83M | 91.22M | 78.7M | 95.11M | 111.29M | 113.72M | 109.97M | 111.5M | 106.8M | 117.1M | 114.05M |
| EBIT | 266.03M | 422.93M | 412.72M | 402.98M | 712.9M | 810.74M | -22.59M | 245.27M | 905.89M | 565.84M | 52.56M | 289.7M | 705.97M | 503.53M | -58.38M | 345.72M | 159.18M | 23.83M | 233.93M | 539.91M | 693.25M | 319.34M | 355.69M | 435.84M | 273.73M | 113.72M | 195.05M | -105.8M | -89.8M | 251.4M | 97.49M |
| Net Interest Income | -199.6M | -193.97M | -120.21M | -77.43M | -105.4M | -143.37M | -164.56M | -120.83M | -90.15M | -81.58M | -85.88M | -76.35M | -44.33M | -51.96M | -60.4M | -60.13M | -28.19M | -27.37M | -38.44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 24.66M | 25.73M | 12.42M | 39.94M | 25.35M | 1.04M | 278K | 3.6M | 4.27M | 13.38M | 4.18M | 0 | 0 | 4.45M | 1.07M | 1.67M | 2.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 224.27M | 219.69M | 132.63M | 117.37M | 131M | 144.41M | 164.84M | 124.43M | 94.42M | 94.95M | 90.06M | 76.35M | 44.33M | 56.41M | 71.31M | 61.8M | 24.24M | 27.37M | 38.44M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -294.94M | -259.84M | -44.63M | 22.04M | 89.48M | -45.63M | -134.98M | -68.61M | -18.15M | -5.58M | -65.95M | -24.5M | -35.2M | -29.41M | -60.61M | -60.13M | -28.19M | -27.77M | -27.81M | -17.05M | -34.99M | -31.14M | -24.01M | -204.16M | -107.02M | -12.95M | -16.08M | -80.3M | 3.9M | 1.8M | -102.38M |
| Pretax Income | 41.77M | 203.24M | 280.09M | 285.61M | 582.15M | 666.34M | -187.43M | 120.84M | 811.48M | 470.88M | -37.5M | 213.35M | 661.64M | 447.12M | -119.84M | 283.92M | 128.53M | -3.54M | 195.49M | 522.87M | 658.26M | 288.2M | 331.67M | 92.33M | 51.33M | 100.77M | 178.97M | -186.1M | -85.9M | 253.2M | -4.89M |
| Pretax Margin % | 1.14% | 5.66% | 7.53% | 7.67% | 13.5% | 15.09% | -7.07% | 3.68% | 18.1% | 15.39% | -1.88% | 9.59% | 20.53% | 14.79% | -4.71% | 10.89% | 6.54% | -0.3% | 8.45% | 23.07% | 31.22% | 17.38% | 19.29% | 6.62% | 5.09% | 8.77% | 16.86% | -26.78% | -11.92% | 19.49% | -0.52% |
| Income Tax | 25.37M | 58.45M | 29.84M | 1.49M | 119.86M | 110.43M | -62.1M | 4.47M | 153.49M | 95.79M | -9.28M | 11M | 155.34M | 70.12M | -85.27M | 55.92M | 34.5M | -4.27M | 26.74M | 147.2M | 175.31M | 122.45M | 95.23M | 84.83M | 24.91M | 29.35M | 34.11M | -36.2M | -17.5M | 51.2M | 2.99M |
| Effective Tax Rate % | 60.75% | 28.76% | 10.65% | 0.52% | 20.59% | 16.57% | 33.13% | 3.7% | 18.92% | 20.34% | 24.74% | 5.15% | 23.48% | 15.68% | 71.15% | 19.7% | 26.84% | 120.87% | 13.68% | 28.15% | 26.63% | 42.49% | 28.71% | 91.87% | 48.54% | 29.12% | 19.06% | 19.45% | 20.37% | 20.22% | -61.19% |
| Net Income | -44.85M | 79.88M | 163.99M | 174.14M | 353.83M | 482.36M | -156.68M | 87.77M | 568.98M | 316.13M | -12.54M | 200.62M | 454.61M | 329.17M | -68.11M | 201.33M | 96.02M | 738K | 168.75M | 375.67M | 482.95M | 165.75M | 236.44M | 7.51M | 26.41M | 71.42M | 144.86M | -149.9M | -68.4M | 202M | -7.88M |
| Net Margin % | -1.22% | 2.23% | 4.41% | 4.68% | 8.21% | 10.93% | -5.91% | 2.67% | 12.69% | 10.33% | -0.63% | 9.01% | 14.1% | 10.88% | -2.68% | 7.72% | 4.88% | 0.06% | 7.29% | 16.57% | 22.91% | 10% | 13.75% | 0.54% | 2.62% | 6.22% | 13.65% | -21.57% | -9.49% | 15.55% | -0.83% |
| Net Income Growth % | -120.14% | -51.29% | -5.83% | -50.78% | -26.65% | 407.87% | -278.52% | -84.57% | 79.98% | 2620.01% | -106.25% | -55.87% | 38.11% | 583.32% | -133.83% | 109.67% | 12910.7% | -99.56% | -55.08% | -22.21% | 191.37% | -29.9% | 3049.23% | -71.58% | -63.01% | -50.7% | 196.64% | -119.15% | -133.86% | 2663.16% | -104.11% |
| Net Income (Continuing) | 16.39M | 144.79M | 250.25M | 284.12M | 462.29M | 555.91M | -125.33M | 116.37M | 657.98M | 375.1M | -28.23M | 202.35M | 506.31M | 377M | -34.58M | 228M | 94.03M | 738K | 168.75M | 375.67M | 482.95M | 165.75M | 236.44M | 7.51M | 26.41M | 71.42M | 144.86M | -149.9M | -68.4M | 202M | -7.88M |
| Discontinued Operations | 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 |
| Minority Interest | 295.56M | 282.94M | 287.71M | 240.85M | 317.44M | 271.15M | 292.36M | 298.68M | 296.63M | 244.35M | 208.51M | 248.84M | 266.84M | 247.61M | 187.86M | 197.24M | 146.1M | 133.12M | 108.73M | 41.26M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.58 | 0.93 | 2.39 | 2.57 | 4.86 | 6.13 | -2.06 | 1.03 | 7.03 | 3.64 | -0.14 | 2.01 | 4.55 | 3.41 | -0.73 | 2.06 | 1.09 | 0.01 | 1.78 | 3.68 | 4.41 | 1.40 | 1.92 | 0.06 | 0.21 | 0.46 | 0.83 | -0.87 | -0.39 | 1.10 | -0.04 |
| EPS Growth % | -115.27% | -61.09% | -7% | -47.12% | -20.72% | 397.57% | -300% | -85.35% | 93.13% | 2700% | -106.97% | -55.82% | 33.43% | 567.12% | -135.44% | 88.99% | 10800% | -99.44% | -51.63% | -16.55% | 215% | -27.08% | 3100% | -71.43% | -54.35% | -44.58% | 195.4% | -123.08% | -135.45% | 3105.46% | -103.62% |
| EPS (Basic) | - | 1.10 | 2.43 | 2.57 | 4.95 | 6.34 | -2.06 | 1.17 | 7.07 | 3.64 | -0.14 | 2.21 | 4.79 | 3.46 | -0.73 | 2.16 | 1.10 | 0.01 | 1.79 | 3.69 | 4.43 | 1.41 | 1.95 | 0.06 | 0.21 | 0.46 | 0.85 | -0.87 | -0.39 | 1.10 | -0.04 |
| Diluted Shares Outstanding | 77.34M | 72.61M | 67.56M | 67.81M | 71.68M | 76.24M | 76.2M | 76.69M | 80.89M | 86.82M | 89.78M | 91.35M | 96.19M | 96.43M | 93.76M | 94.36M | 93.5M | 92.69M | 94.91M | 102.13M | 109.44M | 118.36M | 122.96M | 122.96M | 126.61M | 154.36M | 174.53M | 173.18M | 174.65M | 183.64M | 216M |
| Basic Shares Outstanding | 77.34M | 72.53M | 67.39M | 67.81M | 71.42M | 76.04M | 76.2M | 76.59M | 80.49M | 86.77M | 89.61M | 90.65M | 95M | 95.26M | 93.29M | 93.03M | 92.22M | 92.06M | 94.52M | 101.72M | 109.11M | 117.77M | 121.52M | 122.96M | 126.61M | 154.36M | 170.3M | 173.18M | 174.65M | 183.64M | 216M |
| Dividend Payout Ratio | - | 68.22% | 30.41% | 28.36% | 11.93% | 5.06% | - | 125.77% | 18.57% | 32.11% | - | 48.46% | 19.78% | 22.77% | - | 29.88% | 59.57% | 8415.13% | 29.11% | 15.94% | 10.6% | 30.03% | 15.34% | 779.66% | 47.35% | - | - | - | - | - | - |
Methanol price volatility
According to recent financial disclosures, Methanex experienced a revenue growth rate of 8.6% in 2026Q1, yet this follows a period of inconsistent performance where quarterly top-line figures fluctuated significantly, suggesting that the company's growth trajectory is heavily tethered to volatile global methanol pricing rather than structural volume expansion.
The recent uptick in revenue appears to be a function of commodity price recovery rather than a fundamental shift in demand. Investors should monitor whether this growth can be sustained given the ongoing industrial weakness in key markets like China, which remains a critical price setter for the company's output.
As reported in quarterly filings, the company's gross margin contracted to 20.9% in 2026Q1 from a peak of 35.2% in 2025Q1, highlighting the extreme sensitivity of Methanex's profitability to the methanol-to-gas spread and the inherent difficulty in maintaining pricing power during periods of rising feedstock costs.
The sharp decline in margins suggests that the company lacks the ability to fully pass through increased natural gas costs to its customers. This structural vulnerability warrants further investigation into the effectiveness of their current hedging strategies and the impact of regional gas supply curtailments on unit production costs.
Based on the provided income statements, Methanex reported a net loss of $13.4 million in 2026Q1, a figure that appears heavily impacted by non-operating items and significant stock-based compensation of $53.4 million, which complicates the assessment of the company's true underlying operational profitability for the period.
The divergence between operating income and net income suggests that non-cash charges and financial items are creating substantial noise in the bottom line. Analysts should be cautious, as the high level of stock-based compensation may be diluting shareholder value during periods where the company is already struggling to maintain positive net margins.
Data from the last ten quarters indicates that Methanex's net margin has frequently dipped into negative territory, with a -1.4% net margin in 2026Q1, suggesting that the company's high fixed-cost base may be unsustainable if methanol prices remain depressed for an extended duration of the cycle.
Short-sellers would likely focus on the company's inability to generate consistent net income despite its logistical advantages. The persistent reliance on debt-financed capacity expansions, combined with volatile earnings, may indicate that the company is more exposed to commodity price cycles than its integrated supply chain would suggest.
Quick answers to the most common questions about buying MEOH stock.
For fiscal year 2025, Methanex Corporation (MEOH) reported total revenue of $3.59B. This represents a 279.5% increase compared to $945.7M in 1996.
Methanex Corporation (MEOH) is profitable, generating $79.9M in net income for the fiscal year ending 2025 with a net profit margin of 2.2%.
Methanex Corporation (MEOH) reported an operating income of $463.1M, resulting in an operating profit margin of 12.9%. This margin reflects the operational efficiency of the business before interest and taxes.
Methanex Corporation (MEOH) generated $909.1M in gross profit for the year, representing a gross profit margin of 25.3%. This demonstrates the company's core pricing power and production efficiency.