Revenue growth remains highly variable, fluctuating between a 5.8% contraction and a 14.8% expansion, while gross margins have compressed from 31.9% in 2025Q1 to 26.7% in 2026Q3.
| Metric | TTM | Jul'25 | Jul'24 | Jul'23 | Jul'22 | Jul'21 | Jul'20 | Jul'19 | Jul'18 | Jul'17 | Jul'16 | Jul'15 | Jul'14 | Jul'13 | Jul'12 | Jul'11 | Jul'10 | Jul'09 | Jul'08 | Jul'07 | Jul'06 | Jul'05 | Jul'04 | Jul'03 | Jul'02 | Jul'01 | Jul'00 | Jul'99 | Jul'98 | Jul'97 | Jul'96 |
|---|
| Sales/Revenue | 489.76M | 485.57M | 437.59M | 413.02M | 348.59M | 304.98M | 283.23M | 277.02M | 266M | 262.31M | 262.31M | 261.4M | 266.31M | 250.58M | 240.68M | 226.75M | 219.05M | 236.25M | 232.36M | 212.12M | 205.21M | 187.87M | 185.51M | 173.04M | 162.34M | 167.86M | 175.12M | 174M | 160.3M | 156.6M | 153.8M |
| Revenue Growth % | 3.31% | 10.97% | 5.95% | 18.48% | 14.3% | 7.68% | 2.24% | 4.14% | 1.41% | -0% | 0.35% | -1.84% | 6.28% | 4.11% | 6.14% | 3.52% | -7.28% | 1.67% | 9.54% | 3.37% | 9.23% | 1.27% | 7.21% | 6.59% | -3.29% | -4.14% | 0.64% | 8.55% | 2.36% | 1.82% | 0.59% |
| Cost of Goods Sold | 353.43M | 342.49M | 312.49M | 309.79M | 286.07M | 239.74M | 207.4M | 211.37M | 194.08M | 188.59M | 185.16M | 201.25M | 206.66M | 184.08M | 181.68M | 176.72M | 169.36M | 186.86M | 186.29M | 166.42M | 167.14M | 147.51M | 142.26M | 137.41M | 131.26M | 129.78M | 116.08M | 110.6M | 102.3M | 101.1M | 99.9M |
| COGS % of Revenue | - | 70.53% | 71.41% | 75.01% | 82.07% | 78.61% | 73.23% | 76.3% | 72.96% | 71.9% | 70.59% | 76.99% | 77.6% | 73.46% | 75.48% | 77.93% | 77.32% | 79.1% | 80.17% | 78.46% | 81.45% | 78.52% | 76.69% | 79.41% | 80.86% | 77.31% | 66.29% | 63.56% | 63.82% | 64.56% | 64.95% |
| Gross Profit | 136.33M | 143.08M | 125.09M | 103.23M | 62.52M | 65.24M | 75.82M | 65.66M | 71.92M | 73.71M | 77.15M | 60.16M | 59.65M | 66.5M | 59.01M | 50.04M | 49.69M | 49.38M | 46.07M | 45.7M | 38.07M | 40.35M | 43.25M | 35.63M | 31.08M | 38.08M | 59.03M | 63.4M | 58M | 55.5M | 53.9M |
| Gross Margin % | 27.84% | 29.47% | 28.59% | 24.99% | 17.93% | 21.39% | 26.77% | 23.7% | 27.04% | 28.1% | 29.41% | 23.01% | 22.4% | 26.54% | 24.52% | 22.07% | 22.68% | 20.9% | 19.83% | 21.54% | 18.55% | 21.48% | 23.31% | 20.59% | 19.14% | 22.69% | 33.71% | 36.44% | 36.18% | 35.44% | 35.05% |
| Gross Profit Growth % | - | 14.38% | 21.18% | 65.12% | -4.18% | -13.96% | 15.48% | -8.71% | -2.43% | -4.46% | 28.25% | 0.85% | -10.3% | 12.7% | 17.92% | 0.71% | 0.62% | 7.19% | 0.81% | 20.03% | -5.65% | -6.69% | 21.39% | 14.63% | -18.38% | -35.49% | -6.89% | 9.31% | 4.5% | 2.97% | 3.06% |
| Operating Expenses | 73.32M | 74.86M | 72.28M | 62.19M | 52.05M | 52.2M | 65.29M | 55.25M | 56.05M | 58.48M | 61.74M | 44.89M | 46.88M | 47.56M | 47.3M | 36.33M | 36.14M | 34.8M | 33.34M | 35.16M | 29.73M | 30.47M | 32.98M | 29.01M | 31.09M | 33.91M | 52.04M | 51.6M | 46.4M | 44.9M | 47.8M |
| OpEx % of Revenue | - | 15.42% | 16.52% | 15.06% | 14.93% | 17.12% | 23.05% | 19.94% | 21.07% | 22.3% | 23.54% | 17.17% | 17.6% | 18.98% | 19.65% | 16.02% | 16.5% | 14.73% | 14.35% | 16.58% | 14.49% | 16.22% | 17.78% | 16.77% | 19.15% | 20.2% | 29.72% | 29.66% | 28.95% | 28.67% | 31.08% |
| Selling, General & Admin | 73.32M | 72.46M | 70.18M | 60.99M | 49.94M | 49.67M | 62.53M | 52.05M | 52.62M | 55.27M | 58.71M | 42.08M | 44.29M | 44.94M | 45.3M | 34.4M | 34.31M | 32.7M | 30.84M | 33.01M | 27.93M | 28.04M | 30.52M | 29.69M | 27.88M | 38.19M | 42.94M | 43.1M | 38.6M | 37.3M | 39.9M |
| SG&A % of Revenue | - | 14.92% | 16.04% | 14.77% | 14.33% | 16.28% | 22.08% | 18.79% | 19.78% | 21.07% | 22.38% | 16.1% | 16.63% | 17.93% | 18.82% | 15.17% | 15.66% | 13.84% | 13.27% | 15.56% | 13.61% | 14.93% | 16.45% | 17.16% | 17.17% | 22.75% | 24.52% | 24.77% | 24.08% | 23.82% | 25.94% |
| Research & Development | 0 | 2.4M | 2.1M | 1.2M | 2.11M | 2.54M | 2.77M | 3.2M | 3.43M | 3.21M | 3.02M | 2.81M | 2.59M | 2.62M | 2.01M | 1.93M | 1.83M | 2.1M | 2.5M | 2.15M | 1.81M | 2.43M | 2.45M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | 0.49% | 0.48% | 0.29% | 0.6% | 0.83% | 0.98% | 1.16% | 1.29% | 1.23% | 1.15% | 1.07% | 0.97% | 1.05% | 0.83% | 0.85% | 0.83% | 0.89% | 1.07% | 1.02% | 0.88% | 1.29% | 1.32% | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.21M | 0 | 9.1M | 8.5M | 7.8M | 7.6M | 7.9M |
| Operating Income | 63.01M | 68.22M | 52.82M | 41.04M | 10.46M | 13.04M | 10.53M | 10.41M | 15.88M | 15.23M | 15.41M | 15.27M | 12.77M | 18.94M | 11.7M | 13.71M | 13.55M | 14.58M | 12.73M | 10.54M | 8.34M | 9.88M | 10.27M | 6.62M | -11K | 4.17M | 6.99M | 11.8M | 11.6M | 10.6M | 6.1M |
| Operating Margin % | 12.86% | 14.05% | 12.07% | 9.94% | 3% | 4.27% | 3.72% | 3.76% | 5.97% | 5.81% | 5.88% | 5.84% | 4.8% | 7.56% | 4.86% | 6.05% | 6.19% | 6.17% | 5.48% | 4.97% | 4.06% | 5.26% | 5.54% | 3.82% | -0.01% | 2.48% | 3.99% | 6.78% | 7.24% | 6.77% | 3.97% |
| Operating Income Growth % | - | 29.16% | 28.7% | 292.16% | -19.72% | 23.79% | 1.14% | -34.42% | 4.25% | -1.19% | 0.96% | 19.52% | -32.56% | 61.86% | -14.64% | 1.18% | -7.09% | 14.56% | 20.81% | 26.36% | -15.64% | -3.78% | 55.25% | 60254.55% | -100.26% | -40.43% | -40.74% | 1.72% | 9.43% | 73.77% | -51.97% |
| EBITDA | 80.26M | 90.26M | 72.1M | 56.57M | 23.94M | 27.21M | 24.45M | 23.74M | 28.63M | 28M | 27.61M | 27.26M | 23.17M | 27.89M | 20.97M | 22.18M | 20.92M | 21.99M | 20.18M | 18.04M | 15.55M | 17.31M | 18.33M | 15.15M | 8.77M | 13.26M | 16.09M | 20.3M | 19.4M | 18.2M | 14M |
| EBITDA Margin % | 16.39% | 18.59% | 16.48% | 13.7% | 6.87% | 8.92% | 8.63% | 8.57% | 10.76% | 10.68% | 10.52% | 10.43% | 8.7% | 11.13% | 8.71% | 9.78% | 9.55% | 9.31% | 8.69% | 8.5% | 7.58% | 9.22% | 9.88% | 8.76% | 5.4% | 7.9% | 9.19% | 11.67% | 12.1% | 11.62% | 9.1% |
| EBITDA Growth % | -9.51% | 25.19% | 27.45% | 136.3% | -12.03% | 11.28% | 3% | -17.08% | 2.25% | 1.44% | 1.27% | 17.66% | -16.92% | 32.96% | -5.45% | 6.03% | -4.86% | 8.94% | 11.92% | 15.97% | -10.18% | -5.54% | 20.98% | 72.68% | -33.81% | -17.63% | -20.73% | 4.64% | 6.59% | 30% | -31.71% |
| D&A (Non-Cash Add-back) | 17.25M | 22.04M | 19.28M | 15.53M | 13.47M | 14.18M | 13.92M | 13.33M | 12.76M | 12.77M | 12.19M | 11.99M | 10.4M | 8.95M | 9.27M | 8.47M | 7.37M | 7.41M | 7.46M | 7.5M | 7.21M | 7.43M | 8.06M | 8.53M | 8.79M | 9.09M | 9.1M | 8.5M | 7.8M | 7.6M | 7.9M |
| EBIT | 63.41M | 68.64M | 51.45M | 36.14M | 6.94M | 14.09M | 23.54M | 15.14M | 15.54M | 15.43M | 15.39M | 15.5M | 12.91M | 19.27M | 10.42M | 14.19M | 14.16M | 15.22M | 14.36M | 12.83M | 10.15M | 10.69M | 9.01M | 6.62M | -11K | 4.17M | 6.99M | 11.8M | 11.6M | 10.6M | 6.1M |
| Net Interest Income | -777K | -1.74M | -931K | -999K | -1.18M | -651K | -259K | -344K | -417K | -793K | -1.01M | -1.31M | -1.55M | -1.74M | -2.03M | -1.99M | -1.22M | -1.54M | -1.12M | 0 | 0 | 0 | 222K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 1.43M | 698K | 873K | 465K | 45K | 71K | 259K | 250K | 259K | 95K | 29K | 13K | 23K | 34K | 31K | 61K | 126K | 365K | 1.07M | 0 | 0 | 0 | 222K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.21M | 2.43M | 1.8M | 1.46M | 1.23M | 722K | 518K | 594K | 676K | 888K | 1.03M | 1.33M | 1.57M | 1.77M | 2.06M | 2.05M | 1.34M | 1.91M | 2.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 637K | -2.01M | -3.17M | -6.36M | -4.76M | 332K | 12.49M | 4.14M | -1.01M | -685K | -1.06M | -1.1M | -1.44M | -1.44M | -3.34M | -1.57M | -735K | -1.27M | -555K | -92K | -443K | -953K | -3.34M | -2.27M | -1.55M | -2.7M | -3.94M | -1.7M | -5M | -1.1M | -1.3M |
| Pretax Income | 63.64M | 66.21M | 49.65M | 34.68M | 5.71M | 13.37M | 23.02M | 14.55M | 14.87M | 14.54M | 14.36M | 14.17M | 11.34M | 17.5M | 8.36M | 12.14M | 12.81M | 13.31M | 12.18M | 10.45M | 7.9M | 8.93M | 6.93M | 4.34M | -1.56M | 1.47M | 3.05M | 10.1M | 6.6M | 9.5M | 4.8M |
| Pretax Margin % | 12.99% | 13.64% | 11.35% | 8.4% | 1.64% | 4.38% | 8.13% | 5.25% | 5.59% | 5.54% | 5.47% | 5.42% | 4.26% | 6.98% | 3.47% | 5.35% | 5.85% | 5.63% | 5.24% | 4.92% | 3.85% | 4.75% | 3.74% | 2.51% | -0.96% | 0.88% | 1.74% | 5.8% | 4.12% | 6.07% | 3.12% |
| Income Tax | 10.46M | 12.21M | 10.22M | 5.2M | 97K | 2.39M | 4.28M | 1.93M | 6.64M | 3.75M | 744K | 2.8M | 2.98M | 2.91M | 2.26M | 3.09M | 3.36M | 3.72M | 3.14M | 2.79M | 2.64M | 2.39M | 1.9M | 1.26M | -465K | 556K | 821K | 2.9M | 1.9M | 2.7M | 1.4M |
| Effective Tax Rate % | 16.43% | 18.45% | 20.59% | 14.98% | 1.7% | 17.86% | 18.59% | 13.29% | 44.69% | 25.8% | 5.18% | 19.77% | 26.29% | 16.65% | 27.07% | 25.45% | 26.19% | 27.97% | 25.76% | 26.66% | 33.4% | 26.78% | 27.38% | 29% | 29.83% | 37.85% | 26.94% | 28.71% | 28.79% | 28.42% | 29.17% |
| Net Income | 52.55M | 51.42M | 37.26M | 28.03M | 5.67M | 10.62M | 17.95M | 12.12M | 8.05M | 10.54M | 13.3M | 11.22M | 8.23M | 14.37M | 6.01M | 8.93M | 9.46M | 9.59M | 9.04M | 7.66M | 5.26M | 6.54M | 5.03M | 3.08M | -1.09M | 913K | 2.23M | 7.2M | 4.7M | 6.8M | 3.4M |
| Net Margin % | 10.73% | 10.59% | 8.52% | 6.79% | 1.63% | 3.48% | 6.34% | 4.38% | 3.03% | 4.02% | 5.07% | 4.29% | 3.09% | 5.73% | 2.5% | 3.94% | 4.32% | 4.06% | 3.89% | 3.61% | 2.56% | 3.48% | 2.71% | 1.78% | -0.67% | 0.54% | 1.27% | 4.14% | 2.93% | 4.34% | 2.21% |
| Net Income Growth % | 11.61% | 37.99% | 32.92% | 394.06% | -46.57% | -40.83% | 48.08% | 50.63% | -23.65% | -20.75% | 18.51% | 36.38% | -42.74% | 139.26% | -32.73% | -5.6% | -1.34% | 6.05% | 18% | 45.66% | -19.59% | 29.94% | 63.25% | 381.81% | -219.82% | -59% | -69.07% | 53.19% | -30.88% | 100% | -57.5% |
| Net Income (Continuing) | 53.19M | 54M | 39.43M | 29.48M | 5.61M | 10.98M | 18.74M | 12.62M | 8.22M | 10.79M | 13.61M | 11.37M | 8.36M | 14.59M | 6.1M | 9.05M | 9.46M | 9.59M | 9.04M | 7.66M | 5.26M | 6.54M | 5.03M | 3.08M | -1.09M | 913K | 2.23M | 7.2M | 4.7M | 6.8M | 3.4M |
| 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 | 0 | 0 | 0 | 0 | -369K | -307K | -174K | -14K | -18K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 3.78 | 3.76 | 2.75 | 2.10 | 0.43 | 0.79 | 1.32 | 0.84 | 0.56 | 0.74 | 0.94 | 0.80 | 0.59 | 1.04 | 0.43 | 0.63 | 0.65 | 0.66 | 0.63 | 0.55 | 0.36 | 0.44 | 0.67 | 0.22 | -0.08 | 0.07 | 0.16 | 0.48 | 0.31 | 0.41 | 0.20 |
| EPS Growth % | 5.92% | 36.53% | 31.43% | 385.25% | -45.29% | -40.35% | 58.3% | 50.03% | -24.2% | -21.39% | 17.61% | 35.9% | -43.48% | 143.53% | -32.54% | -3.08% | -1.52% | 5.6% | 14.68% | 49.73% | -17.27% | -34.52% | 212.56% | 368.75% | -223.08% | -58.06% | -67.71% | 54.84% | -24.39% | 105% | -56.52% |
| EPS (Basic) | - | 3.99 | 2.93 | 2.23 | 0.44 | 0.81 | 1.35 | 0.91 | 0.61 | 0.80 | 1.02 | 0.80 | 0.59 | 1.04 | 0.43 | 0.64 | 0.67 | 0.69 | 0.66 | 0.57 | 0.38 | 0.48 | 0.74 | 0.24 | -0.08 | 0.07 | 0.16 | 0.49 | 0.31 | 0.41 | 0.20 |
| Diluted Shares Outstanding | 13.9M | 16.88M | 17.67M | 16.51M | 13.14M | 13.46M | 13.57M | 14.5M | 14.44M | 14.32M | 14.19M | 14.07M | 14.01M | 13.85M | 14.12M | 14.21M | 14.55M | 14.48M | 14.43M | 14.06M | 14.44M | 14.91M | 14.9M | 14.27M | 14.04M | 14.03M | 14.19M | 14.95M | 15.26M | 16.67M | 17.11M |
| Basic Shares Outstanding | 9.85M | 12.88M | 13.72M | 12.59M | 12.88M | 13.17M | 13.33M | 13.33M | 14.27M | 14.2M | 14.07M | 13.95M | 13.96M | 13.76M | 13.99M | 10.15M | 10.41M | 14.04M | 13.84M | 9.8M | 10.01M | 10.09M | 10.1M | 10.38M | 14.04M | 14.03M | 14.12M | 14.63M | 15.26M | 16.5M | 17.02M |
| Dividend Payout Ratio | - | 16.33% | 20.95% | 26.52% | 130.01% | 67.72% | 39.17% | 54.91% | 77.42% | 56.23% | 42.11% | 46.76% | 60.34% | 32.22% | 74.69% | 47.24% | 42.21% | 38.43% | 37.36% | 39.66% | 45.69% | 33.73% | 39.7% | 61.08% | - | 207.23% | 85.81% | 26.39% | 38.3% | 29.41% | 58.82% |
Energy cost volatility exposure
According to the provided quarterly income statements, Oil-Dri's revenue growth has fluctuated significantly, ranging from a 5.8% contraction in 2026Q1 to a 14.8% expansion in 2025Q1, suggesting that top-line performance remains highly sensitive to the timing of price adjustments and underlying demand in its core segments.
The inconsistent revenue trajectory indicates that while the company possesses some pricing power, it struggles to maintain steady organic growth across its diverse product lines. Investors should monitor whether the recent 9.4% growth in 2026Q3 represents a sustainable recovery or merely a temporary rebound from previous quarterly volatility.
As reported in the financial data, gross margins have trended downward from a peak of 31.9% in 2025Q1 to 26.7% in 2026Q3, reflecting the persistent difficulty in fully offsetting rising input costs through product pricing in the competitive specialty minerals and consumer goods markets.
The erosion of gross margin suggests that the company's energy-intensive kiln operations are highly vulnerable to inflationary pressures. This trend warrants further investigation into whether the company can successfully pivot its product mix toward higher-margin animal health solutions to stabilize profitability against commodity cost fluctuations.
Based on the income statement figures, operating margins have contracted from 16.6% in 2025Q1 to 11.6% in 2026Q3, indicating that the company is currently unable to scale its operating income faster than its gross profit, likely due to persistent overhead and logistics expenses.
The inability to expand operating margins during periods of revenue growth suggests a lack of significant operating leverage within the current cost structure. This may indicate that the company's fixed costs, particularly in manufacturing and distribution, are currently too high to allow for meaningful bottom-line expansion.
Analysis of the reported income statements reveals that stock-based compensation, which reached $1.3 million in 2026Q3, continues to act as a recurring drag on net income, potentially masking the true underlying profitability of the company's core industrial and consumer operations for minority shareholders.
The presence of consistent stock-based compensation expenses, despite the company's conservative capital allocation, suggests that management incentives may not be perfectly aligned with earnings growth. Investors should scrutinize these non-cash charges to determine if they represent a meaningful dilution of shareholder value over the long term.
Based on the provided data, the company's reliance on energy-intensive mineral processing creates a structural risk, as evidenced by the 26.7% gross margin in 2026Q3, which may be insufficient to support long-term valuation premiums if energy prices remain elevated or competitive pricing pressures intensify.
Short-sellers might focus on the company's inability to maintain gross margins above the 30% threshold, which could signal a loss of competitive advantage in its core markets. The current margin profile appears to be at a critical inflection point where further compression could severely limit the company's ability to fund future growth initiatives.
Quick answers to the most common questions about buying ODC stock.
For fiscal year 2025, Oil-Dri Corporation of America (ODC) reported total revenue of $485.6M. This represents a 215.7% increase compared to $153.8M in 1996.
Oil-Dri Corporation of America (ODC) is profitable, generating $51.4M in net income for the fiscal year ending 2025 with a net profit margin of 10.6%.
Oil-Dri Corporation of America (ODC) reported an operating income of $68.2M, resulting in an operating profit margin of 14.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Oil-Dri Corporation of America (ODC) generated $143.1M in gross profit for the year, representing a gross profit margin of 29.5%. This demonstrates the company's core pricing power and production efficiency.