The Mosaic Company (MOS) 10-Year Financial Performance & Capital Metrics

MOS • • Industrial / General

Basic MaterialsAgricultural InputsFertilizer ProductionIntegrated Fertilizer Companies

AboutThe Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients in North America and internationally. The company operates through three segments: Phosphates, Potash, and Mosaic Fertilizantes. It owns and operates mines, which produce concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and ammoniated phosphate products; and phosphate-based animal feed ingredients primarily under the Biofos and Nexfos brand names, as well as produces a double sulfate of potash magnesia product under K-Mag brand name. The company also produces and sells potash for use in the manufacturing of mixed crop nutrients and animal feed ingredients, and for industrial use; and for use in the de-icing and as a water softener regenerant. In addition, it provides nitrogen-based crop nutrients, animal feed ingredients, and other ancillary services; and purchases and sells phosphates, potash, and nitrogen products. The company sells its products to wholesale distributors, retail chains, farmers, cooperatives, independent retailers, and national accounts. The Mosaic Company was incorporated in 2004 and is headquartered in Tampa, Florida.Show more

Revenue $11.12B -18.8%
EBITDA $1.65B -28.4%
Net Income $175M -85.0%
EPS (Diluted) 0.55 -84.3%
Gross Margin 13.59% -15.8%
EBITDA Margin 14.81% -11.8%
Operating Margin 5.59% -42.8%
Net Margin 1.57% -81.5%
ROE 1.45% -84.6%
ROIC 2.93% -54.3%
Debt/Equity 0.38 +19.2%
Interest Coverage 2.70 -61.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Healthy dividend yield of 3.1%
✓Share count reduced 3.8% through buybacks
✓Trading at only 0.8x book value

✗Weaknesses

✗Dividend payout exceeds 100% of earnings

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.08%

5Y4.55%

3Y-3.45%

TTM3.82%

Profit (Net Income) CAGR

10Y-16.24%

5Y-

3Y-52.49%

TTM231.14%

EPS CAGR

10Y-14.65%

5Y-

3Y-49.5%

TTM241.59%

ROCE

10Y Avg6.68%

5Y Avg10.96%

3Y Avg12.59%

Latest3.28%

Peer Comparison

Integrated Fertilizer Companies

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MOSThe Mosaic Company	8.75B	27.58	50.15	-18.79%	10.33%	9.5%	0.54%	0.38
ICLICL Group Ltd	7.14B	5.53	17.28	-9.22%	5.23%	5.78%	9.11%	0.38

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	8.9B	7.16B	7.41B	9.59B	8.91B	8.68B	12.36B	19.13B	13.7B	11.12B
Revenue Growth %	-0.02%	-0.19%	0.03%	0.29%	-0.07%	-0.03%	0.42%	0.55%	-0.28%	-0.19%
Cost of Goods Sold+	7.18B	6.35B	6.57B	8.09B	8.01B	7.62B	9.16B	13.37B	11.49B	9.61B
COGS % of Revenue	0.81%	0.89%	0.89%	0.84%	0.9%	0.88%	0.74%	0.7%	0.84%	0.86%
Gross Profit+	1.72B	810M	842.8M	1.5B	897.3M	1.06B	3.2B	5.76B	2.21B	1.51B
Gross Margin %	0.19%	0.11%	0.11%	0.16%	0.1%	0.12%	0.26%	0.3%	0.16%	0.14%
Gross Profit Growth %	-0.11%	-0.53%	0.04%	0.78%	-0.4%	0.19%	2.01%	0.8%	-0.62%	-0.32%
Operating Expenses+	439.1M	491M	377.1M	570.1M	1.99B	652M	731.8M	970.5M	872.5M	890.4M
OpEx % of Revenue	0.05%	0.07%	0.05%	0.06%	0.22%	0.08%	0.06%	0.05%	0.06%	0.08%
Selling, General & Admin	361.2M	304.2M	301.3M	341.1M	354.1M	371.5M	430.5M	498M	500.5M	496.9M
SG&A % of Revenue	0.04%	0.04%	0.04%	0.04%	0.04%	0.04%	0.03%	0.03%	0.04%	0.04%
Research & Development	0	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	77.9M	186.8M	75.8M	229M	1.64B	280.5M	301.3M	472.5M	372M	393.5M
Operating Income+	1.28B	319M	465.7M	928.3M	-1.09B	412.9M	2.47B	4.79B	1.34B	621.5M
Operating Margin %	0.14%	0.04%	0.06%	0.1%	-0.12%	0.05%	0.2%	0.25%	0.1%	0.06%
Operating Income Growth %	-0.03%	-0.75%	0.46%	0.99%	-2.18%	1.38%	4.98%	0.94%	-0.72%	-0.54%
EBITDA+	2.02B	1.03B	1.13B	1.81B	-212.2M	1.26B	3.28B	5.72B	2.3B	1.65B
EBITDA Margin %	0.23%	0.14%	0.15%	0.19%	-0.02%	0.15%	0.27%	0.3%	0.17%	0.15%
EBITDA Growth %	-0.02%	-0.49%	0.1%	0.6%	-1.12%	6.94%	1.6%	0.74%	-0.6%	-0.28%
D&A (Non-Cash Add-back)	739.8M	711.2M	665.5M	883.9M	882.7M	847.6M	812.9M	933.9M	960.6M	1.03B
EBIT	1.24B	383M	545.3M	767.3M	-1.04B	395M	2.42B	4.81B	1.51B	545.4M
Net Interest Income+	-97.8M	-112.4M	-138.1M	-166.1M	-182.9M	-180.6M	-169.1M	-137.8M	-129.4M	-182.8M
Interest Income	35.8M	28.2M	33.2M	49.7M	33.1M	33.5M	25.2M	31M	59.6M	47.2M
Interest Expense	133.6M	140.6M	171.3M	215.8M	216M	214.1M	194.3M	168.8M	189M	230M
Other Income/Expense	-177.9M	-92M	-75M	-381.3M	-220.6M	-325.8M	-235.9M	53.2M	48.1M	-232.8M
Pretax Income+	1.1B	227M	390.7M	547M	-1.32B	87.1M	2.23B	4.84B	1.39B	388.7M
Pretax Margin %	0.12%	0.03%	0.05%	0.06%	-0.15%	0.01%	0.18%	0.25%	0.1%	0.03%
Income Tax+	99.1M	-74.2M	494.9M	77.1M	-224.7M	-578.5M	597.7M	1.22B	177M	186.7M
Effective Tax Rate %	0.91%	1.31%	-0.27%	0.86%	0.81%	7.65%	0.73%	0.74%	0.84%	0.45%
Net Income+	1B	297.8M	-107.2M	470M	-1.07B	666.1M	1.63B	3.58B	1.16B	174.9M
Net Margin %	0.11%	0.04%	-0.01%	0.05%	-0.12%	0.08%	0.13%	0.19%	0.09%	0.02%
Net Income Growth %	-0.03%	-0.7%	-1.36%	5.38%	-3.27%	1.62%	1.45%	1.2%	-0.67%	-0.85%
Net Income (Continuing)	1B	301.2M	-104.2M	469.9M	-1.09B	665.6M	1.63B	3.61B	1.21B	202M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	33.2M	37.9M	21.6M	207.4M	182.1M	173.8M	144.4M	139.6M	142.6M	132.3M
EPS (Diluted)+	2.78	0.85	-0.31	1.22	-2.69	1.75	4.27	10.06	3.50	0.55
EPS Growth %	0.04%	-0.69%	-1.36%	4.94%	-3.2%	1.65%	1.44%	1.36%	-0.65%	-0.84%
EPS (Basic)	2.79	0.85	-0.31	1.22	-2.69	1.76	4.31	10.17	3.52	0.55
Diluted Shares Outstanding	360.3M	351.7M	350.9M	386.4M	383.8M	381.3M	381.6M	356M	333.2M	320.7M
Basic Shares Outstanding	358.5M	350.4M	345.81M	384.8M	383.8M	379M	378.1M	352.4M	331.3M	319.8M
Dividend Payout Ratio	0.38%	1.29%	-	0.08%	-	0.11%	0.06%	0.06%	0.3%	1.55%

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4.14B	3.06B	4.62B	4.24B	3.72B	3.52B	5.33B	6.56B	4.75B	4.5B
Cash & Short-Term Investments	1.28B	673.1M	2.15B	847.7M	519.1M	574M	769.5M	735.4M	348.8M	272.8M
Cash Only	1.28B	673.1M	2.15B	847.7M	519.1M	574M	769.5M	735.4M	348.8M	272.8M
Short-Term Investments	0	0	0	0	0	0	0	0	0	0
Accounts Receivable	924.4M	774.1M	783.9M	839.8M	803.9M	1.06B	1.66B	1.89B	1.54B	1.35B
Days Sales Outstanding	37.93	39.45	38.62	31.97	32.95	44.67	48.97	36.06	41	44.24
Inventory	1.56B	1.39B	1.55B	2.27B	2.08B	1.74B	2.74B	3.54B	2.52B	2.55B
Days Inventory Outstanding	79.51	79.93	86	102.44	94.63	83.34	109.27	96.73	80.19	96.78
Other Current Assets	81.8M	87.9M	62.9M	329.9M	208.1M	65.1M	49.1M	151.4M	50.2M	29.1M
Total Non-Current Assets+	13.27B	13.78B	14.02B	15.88B	15.58B	16.27B	16.71B	16.83B	18.29B	18.43B
Property, Plant & Equipment	8.72B	9.2B	9.71B	11.75B	11.88B	12.03B	12.6B	12.86B	13.82B	13.57B
Fixed Asset Turnover	1.02x	0.78x	0.76x	0.82x	0.75x	0.72x	0.98x	1.49x	0.99x	0.82x
Goodwill	1.6B	1.63B	1.69B	1.71B	1.16B	1.17B	1.17B	1.12B	1.14B	1.06B
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	980.5M	1.06B	1.09B	826.6M	763.6M	673.1M	691.8M	885.9M	909M	1.53B
Other Non-Current Assets	1.26B	1.05B	1.27B	1.26B	1.26B	1.22B	1.25B	1.21B	1.35B	1.3B
Total Assets+	17.41B	16.84B	18.63B	20.12B	19.3B	19.79B	22.04B	23.39B	23.03B	22.92B
Asset Turnover	0.51x	0.43x	0.40x	0.48x	0.46x	0.44x	0.56x	0.82x	0.59x	0.49x
Asset Growth %	-0.05%	-0.03%	0.11%	0.08%	-0.04%	0.03%	0.11%	0.06%	-0.02%	-0%
Total Current Liabilities+	2.05B	1.48B	2.03B	2.48B	2.59B	3.15B	4.79B	5.53B	3.87B	4.17B
Accounts Payable	520.6M	471.8M	540.9M	780.9M	680.4M	769.1M	1.26B	1.29B	1.17B	1.16B
Days Payables Outstanding	26.47	27.11	30.07	35.24	31.01	36.86	50.25	35.29	37.08	43.92
Short-Term Debt	67.2M	38.9M	349.6M	37.5M	88.8M	504.3M	899.4M	1.21B	529.8M	892.4M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	91.9M	102M	98.1M	136.3M	154.4M	190.2M	222.4M	212.3M	377.4M	352.8M
Current Ratio	2.02x	2.07x	2.27x	1.71x	1.43x	1.12x	1.11x	1.18x	1.22x	1.08x
Quick Ratio	1.26x	1.13x	1.51x	0.79x	0.63x	0.57x	0.54x	0.54x	0.57x	0.47x
Cash Conversion Cycle	90.97	92.26	94.55	99.17	96.57	91.16	107.99	97.5	84.1	97.1
Total Non-Current Liabilities+	5.8B	5.74B	6.96B	7.03B	7.34B	6.89B	6.5B	5.66B	6.73B	7.14B
Long-Term Debt	3.79B	3.78B	4.88B	4.49B	4.53B	4.07B	3.38B	2.41B	3.23B	3.33B
Capital Lease Obligations	0	0	326.6M	302.2M	127M	109.6M	64.3M	135.2M	168.1M	181.2M
Deferred Tax Liabilities	977.4M	1.01B	1.12B	1.08B	1.04B	1.06B	1.02B	1.01B	1.07B	942.8M
Other Non-Current Liabilities	1.03B	952.9M	641.2M	1.16B	1.65B	1.64B	2.04B	2.1B	2.26B	2.68B
Total Liabilities	7.85B	7.22B	8.99B	9.51B	9.93B	10.03B	11.29B	11.19B	10.6B	11.31B
Total Debt+	3.86B	3.82B	5.23B	4.53B	4.81B	4.75B	4.41B	3.81B	3.99B	4.45B
Net Debt	2.58B	3.15B	3.07B	3.68B	4.29B	4.18B	3.64B	3.07B	3.65B	4.18B
Debt / Equity	0.40x	0.40x	0.54x	0.43x	0.51x	0.49x	0.41x	0.31x	0.32x	0.38x
Debt / EBITDA	1.91x	3.71x	4.62x	2.50x	-	3.77x	1.34x	0.67x	1.74x	2.70x
Net Debt / EBITDA	1.28x	3.05x	2.72x	2.03x	-	3.31x	1.11x	0.54x	1.59x	2.54x
Interest Coverage	9.57x	2.27x	2.72x	4.30x	-5.07x	1.93x	12.70x	28.35x	7.08x	2.70x
Total Equity+	9.56B	9.62B	9.64B	10.6B	9.37B	9.76B	10.75B	12.19B	12.43B	11.61B
Equity Growth %	-0.11%	0.01%	0%	0.1%	-0.12%	0.04%	0.1%	0.13%	0.02%	-0.07%
Book Value per Share	26.55	27.36	27.47	27.44	24.41	25.58	28.17	34.25	37.31	36.22
Total Shareholders' Equity	9.53B	9.58B	9.62B	10.4B	9.19B	9.58B	10.6B	12.05B	12.29B	11.48B
Common Stock	3.5M	3.5M	3.5M	3.8M	3.8M	3.8M	3.7M	3.4M	3.2M	3.2M
Retained Earnings	11.01B	10.86B	10.63B	11.06B	9.92B	10.51B	12.01B	14.2B	14.24B	13.93B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-1.49B	-1.31B	-1.06B	-1.66B	-1.6B	-1.81B	-1.89B	-2.15B	-1.95B	-2.45B
Minority Interest	33.2M	37.9M	21.6M	207.4M	182.1M	173.8M	144.4M	139.6M	142.6M	132.3M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	1.81B	1.27B	935.5M	1.45B	1.1B	1.58B	2.19B	3.94B	2.41B	1.3B
Operating CF Margin %	0.2%	0.18%	0.13%	0.15%	0.12%	0.18%	0.18%	0.21%	0.18%	0.12%
Operating CF Growth %	-0.21%	-0.3%	-0.26%	0.55%	-0.24%	0.44%	0.38%	0.8%	-0.39%	-0.46%
Net Income	1B	301.2M	-104.2M	469.9M	-1.09B	665.6M	1.63B	3.61B	1.16B	202M
Depreciation & Amortization	739.8M	711.2M	665.5M	883.9M	1.5B	948.5M	810.1M	933.9M	960.6M	0
Stock-Based Compensation	41.3M	30.5M	28M	27.5M	27.9M	17.8M	29.5M	27.9M	37.8M	31.8M
Deferred Taxes	47.4M	-182.6M	612.4M	-101.8M	-261.3M	-684M	98.8M	344.4M	-261.2M	-142.9M
Other Non-Cash Items	141.2M	91.6M	50.7M	192.8M	943.6M	107.8M	243.4M	7.9M	103.4M	1.19B
Working Capital Changes	-163.9M	314.2M	-316.9M	-21.7M	-19.4M	526.9M	-629.7M	-992.5M	401.7M	21.1M
Change in Receivables	-413.8M	249.2M	-114.9M	-342M	125.4M	-153.6M	-683.6M	-215.2M	526.3M	59.2M
Change in Inventory	-53.7M	263M	-155.7M	-497.4M	128.1M	191.4M	-1.07B	-749.6M	1.06B	-275.6M
Change in Payables	301.8M	-243.9M	-65.7M	342M	-125.4M	333.3M	995.1M	219.8M	-1.06B	96.4M
Cash from Investing+	-1.75B	-1.05B	-667.8M	-1.98B	-1.36B	-1.19B	-1.32B	-1.26B	-1.32B	-1.26B
Capital Expenditures	-1B	-843.1M	-820.1M	-993.3M	-1.27B	-1.17B	-1.29B	-1.25B	-1.4B	-1.25B
CapEx % of Revenue	0.11%	0.12%	0.11%	0.1%	0.14%	0.13%	0.1%	0.07%	0.1%	0.11%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-623.3M	836.7M	282.5M	12.3M	-20.5M	-1.19B	-7.2M	7.2M	-32.2M	19.4M
Cash from Financing+	-893.4M	-888.6M	1.2B	-724.8M	-82.2M	-283.8M	-682.1M	-2.68B	-1.48B	-131.9M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	-384.7M	-385.1M	-210.6M	-38.5M	-67.2M	-75.8M	-103.7M	-197.7M	-351.6M	-270.7M
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	243.2M	-355.1M	232.2M	66.6M	146.4M	-124.4M	138.1M	-424.8M	-452.7M	117.9M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	807.3M	423M	115.4M	457.3M	-176.8M	412M	898.4M	2.69B	1B	47.4M
FCF Margin %	0.09%	0.06%	0.02%	0.05%	-0.02%	0.05%	0.07%	0.14%	0.07%	0%
FCF Growth %	-0.41%	-0.48%	-0.73%	2.96%	-1.39%	3.33%	1.18%	1.99%	-0.63%	-0.95%
FCF per Share	2.24	1.20	0.33	1.18	-0.46	1.08	2.35	7.55	3.02	0.15
FCF Conversion (FCF/Net Income)	1.81x	4.25x	-8.73x	3.09x	-1.03x	2.38x	1.34x	1.10x	2.07x	7.43x
Interest Paid	162.3M	0	0	0	0	199.5M	189.9M	169.6M	169.5M	186.4M
Taxes Paid	193.3M	0	0	0	0	6.2M	208.6M	1.11B	385.6M	337M

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	9.86%	3.1%	-1.11%	4.64%	-10.69%	6.97%	15.91%	31.23%	9.46%	1.45%
Return on Invested Capital (ROIC)	7.89%	1.92%	2.74%	5.16%	-5.88%	2.24%	13.08%	24.21%	6.4%	2.93%
Gross Margin	19.31%	11.31%	11.37%	15.63%	10.07%	12.27%	25.9%	30.1%	16.14%	13.59%
Net Margin	11.25%	4.16%	-1.45%	4.9%	-11.98%	7.67%	13.2%	18.73%	8.51%	1.57%
Debt / Equity	0.40x	0.40x	0.54x	0.43x	0.51x	0.49x	0.41x	0.31x	0.32x	0.38x
Interest Coverage	9.57x	2.27x	2.72x	4.30x	-5.07x	1.93x	12.70x	28.35x	7.08x	2.70x
FCF Conversion	1.81x	4.25x	-8.73x	3.09x	-1.03x	2.38x	1.34x	1.10x	2.07x	7.43x
Revenue Growth	-1.77%	-19.48%	3.44%	29.39%	-7.1%	-2.52%	42.34%	54.77%	-28.39%	-18.79%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Phosphates	4.62B	3.71B	3.59B	3.89B	3.24B	3.12B	4.92B	6.18B	4.72B	4.52B
Phosphates Growth	-	-19.68%	-3.28%	8.28%	-16.60%	-3.85%	57.97%	25.62%	-23.61%	-4.35%
Mosaic Fertilizantes	-	-	-	3.75B	3.78B	3.48B	5.09B	8.29B	5.68B	4.42B
Mosaic Fertilizantes Growth	-	-	-	-	0.95%	-7.96%	46.15%	62.86%	-31.40%	-22.21%
Potash	2.45B	1.69B	1.85B	2.17B	2.11B	2.02B	2.63B	5.21B	3.23B	2.39B
Potash Growth	-	-31.11%	9.90%	17.34%	-2.76%	-4.47%	30.08%	98.28%	-37.92%	-26.13%

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Geography	-	-	-	9.59B	8.91B	8.68B	12.36B	19.13B	13.7B	-
Total Geography Growth	-	-	-	-	-7.10%	-2.52%	42.34%	54.77%	-28.39%	-
International Distribution	5.61B	4.49B	4.73B	-	-	-	-	-	-	-
International Distribution Growth	-	-20.05%	5.42%	-	-	-	-	-	-	-
UNITED STATES	3.29B	2.68B	2.68B	-	-	-	-	-	-	-
UNITED STATES Growth	-	-18.50%	0.12%	-	-	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

The Mosaic Company (MOS) has a price-to-earnings (P/E) ratio of 50.1x. This suggests investors expect higher future growth.

Growth & Financials

The Mosaic Company (MOS) reported $11.89B in revenue for fiscal year 2024. This represents a 7% increase from $11.11B in 2011.

The Mosaic Company (MOS) saw revenue decline by 18.8% over the past year.

Yes, The Mosaic Company (MOS) is profitable, generating $1.23B in net income for fiscal year 2024 (1.6% net margin).

Dividend & Returns

Yes, The Mosaic Company (MOS) pays a dividend with a yield of 3.06%. This makes it attractive for income-focused investors.

The Mosaic Company (MOS) has a return on equity (ROE) of 1.5%. This is below average, suggesting room for improvement.

The Mosaic Company (MOS) had negative free cash flow of $203.7M in fiscal year 2024, likely due to heavy capital investments.

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