Revenue growth accelerated to 11.1% in 2026Q1, while gross margins recovered to 35.0% from the 28.6% trough observed in 2023Q4.
| 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 | Sep'99 | Sep'98 | Sep'97 | Sep'96 |
|---|
| Sales/Revenue | 1.66B | 1.61B | 1.56B | 1.46B | 1.44B | 1.38B | 1.33B | 1.32B | 1.39B | 1.36B | 1.38B | 1.38B | 1.45B | 1.47B | 1.46B | 1.43B | 1.33B | 1.2B | 1.25B | 1.18B | 1.1B | 1.02B | 1.05B | 987.41M | 939.89M | 816.95M | 809.16M | 920.2M | 856.8M | 825.7M | 806.4M |
| Revenue Growth % | 5.8% | 3.52% | 6.92% | 1.35% | 4.11% | 3.62% | 0.69% | -4.61% | 1.8% | -1.51% | 0.53% | -4.96% | -1.34% | 0.58% | 1.98% | 7.73% | 10.55% | -4.09% | 5.73% | 7.83% | 7.31% | -2.22% | 6.05% | 5.06% | 15.05% | 0.96% | -12.07% | 7.4% | 3.77% | 2.39% | 1.69% |
| Cost of Goods Sold | 1.1B | 1.07B | 1.05B | 996.15M | 947.93M | 925.52M | 906.46M | 896.66M | 921.82M | 883.89M | 905.72M | 915.43M | 957.4M | 989.81M | 995.91M | 981.14M | 919.82M | 832.38M | 871.75M | 822.48M | 766.51M | 726.91M | 734.6M | 675.41M | 631.58M | 549.33M | 479.41M | 550.8M | 511.8M | 513.8M | 499.8M |
| COGS % of Revenue | - | 66.55% | 67.44% | 68.4% | 65.96% | 67.05% | 68.05% | 67.78% | 66.47% | 64.88% | 65.48% | 66.53% | 66.13% | 67.45% | 68.26% | 68.57% | 69.25% | 69.28% | 69.59% | 69.42% | 69.76% | 70.99% | 70.15% | 68.4% | 67.2% | 67.24% | 59.25% | 59.86% | 59.73% | 62.23% | 61.98% |
| Gross Profit | 560.21M | 539.3M | 507.09M | 460.3M | 489.11M | 454.75M | 425.54M | 426.27M | 464.99M | 478.38M | 477.49M | 460.53M | 490.42M | 477.74M | 463.14M | 449.65M | 408.36M | 369.03M | 380.87M | 362.3M | 332.27M | 297.02M | 312.54M | 312M | 308.31M | 267.62M | 329.76M | 369.4M | 345M | 311.9M | 306.6M |
| Gross Margin % | 33.84% | 33.45% | 32.56% | 31.6% | 34.04% | 32.95% | 31.95% | 32.22% | 33.53% | 35.12% | 34.52% | 33.47% | 33.87% | 32.55% | 31.74% | 31.43% | 30.75% | 30.72% | 30.41% | 30.58% | 30.24% | 29.01% | 29.85% | 31.6% | 32.8% | 32.76% | 40.75% | 40.14% | 40.27% | 37.77% | 38.02% |
| Gross Profit Growth % | - | 6.35% | 10.17% | -5.89% | 7.56% | 6.86% | -0.17% | -8.33% | -2.8% | 0.19% | 3.68% | -6.1% | 2.65% | 3.15% | 3% | 10.11% | 10.66% | -3.11% | 5.12% | 9.04% | 11.87% | -4.97% | 0.17% | 1.2% | 15.2% | -18.84% | -10.73% | 7.07% | 10.61% | 1.73% | -0.91% |
| Operating Expenses | 339.88M | 332.17M | 315.51M | 305.27M | 292.36M | 284.57M | 258.37M | 257.16M | 262.75M | 262.46M | 264.73M | 249.39M | 269.21M | 273.64M | 271.94M | 257.63M | 233.78M | 222.07M | 219.27M | 214.93M | 202.99M | 185.5M | 183.38M | 174.51M | 161.81M | 146.13M | 198.56M | 224.3M | 216.1M | 204.7M | 197.7M |
| OpEx % of Revenue | - | 20.6% | 20.26% | 20.96% | 20.34% | 20.62% | 19.4% | 19.44% | 18.95% | 19.27% | 19.14% | 18.12% | 18.59% | 18.65% | 18.64% | 18.01% | 17.6% | 18.48% | 17.5% | 18.14% | 18.47% | 18.12% | 17.51% | 17.67% | 17.22% | 17.89% | 24.54% | 24.38% | 25.22% | 24.79% | 24.52% |
| Selling, General & Admin | 339.88M | 332.17M | 266.41M | 257.17M | 250.16M | 250.27M | 219.87M | 217.06M | 219.75M | 221.56M | 223.83M | 214.29M | 233.31M | 239.15M | 237.24M | 224.43M | 203.18M | 192.77M | 190.97M | 189.23M | 178.19M | 159.1M | 159.08M | 168.04M | 161.81M | 146.13M | 153.01M | 175.3M | 171.9M | 167.4M | 164.2M |
| SG&A % of Revenue | - | 20.6% | 17.11% | 17.66% | 17.41% | 18.13% | 16.51% | 16.41% | 15.85% | 16.26% | 16.18% | 15.57% | 16.11% | 16.3% | 16.26% | 15.69% | 15.3% | 16.05% | 15.25% | 15.97% | 16.22% | 15.54% | 15.19% | 17.02% | 17.22% | 17.89% | 18.91% | 19.05% | 20.06% | 20.27% | 20.36% |
| Research & Development | 0 | 0 | 49.1M | 48.1M | 42.2M | 34.3M | 38.5M | 40.1M | 43M | 40.9M | 40.9M | 35.1M | 35.9M | 34.5M | 34.7M | 33.2M | 30.6M | 29.3M | 28.3M | 25.7M | 24.8M | 26.4M | 24.3M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | 3.15% | 3.3% | 2.94% | 2.48% | 2.89% | 3.03% | 3.1% | 3% | 2.96% | 2.55% | 2.48% | 2.35% | 2.38% | 2.32% | 2.3% | 2.44% | 2.26% | 2.17% | 2.26% | 2.58% | 2.32% | - | - | - | - | - | - | - | - |
| 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 | 6.48M | 0 | 0 | 45.55M | 49M | 44.2M | 37.3M | 33.5M |
| Operating Income | 220.33M | 207.13M | 191.58M | 155.02M | 196.75M | 170.18M | 167.17M | 169.11M | 202.24M | 215.92M | 212.76M | 211.14M | 221.22M | 204.1M | 191.21M | 192.02M | 174.58M | 146.96M | 161.6M | 147.37M | 129.28M | 111.52M | 129.16M | 137.48M | 146.5M | 121.49M | 131.19M | 145.1M | 128.9M | 107.2M | 108.9M |
| Operating Margin % | 13.31% | 12.85% | 12.3% | 10.64% | 13.69% | 12.33% | 12.55% | 12.78% | 14.58% | 15.85% | 15.38% | 15.35% | 15.28% | 13.91% | 13.11% | 13.42% | 13.14% | 12.23% | 12.9% | 12.44% | 11.77% | 10.89% | 12.33% | 13.92% | 15.59% | 14.87% | 16.21% | 15.77% | 15.04% | 12.98% | 13.5% |
| Operating Income Growth % | - | 8.12% | 23.58% | -21.21% | 15.62% | 1.8% | -1.15% | -16.38% | -6.34% | 1.49% | 0.77% | -4.55% | 8.39% | 6.74% | -0.42% | 9.99% | 18.79% | -9.06% | 9.66% | 14% | 15.92% | -13.66% | -6.06% | -6.15% | 20.58% | -7.4% | -9.58% | 12.57% | 20.24% | -1.56% | 5.83% |
| EBITDA | 281.89M | 268.23M | 251.91M | 212.84M | 249.22M | 222.23M | 216.81M | 224.13M | 255.49M | 264.44M | 259.78M | 259.08M | 272.67M | 256.11M | 239.56M | 238.12M | 218M | 189.15M | 206.04M | 191.68M | 172.32M | 158.29M | 175.4M | 180.58M | 187.78M | 167.78M | 176.75M | 194.1M | 173.1M | 144.5M | 142.4M |
| EBITDA Margin % | 17.03% | 16.64% | 16.18% | 14.61% | 17.34% | 16.1% | 16.28% | 16.94% | 18.42% | 19.41% | 18.78% | 18.83% | 18.83% | 17.45% | 16.42% | 16.64% | 16.41% | 15.74% | 16.45% | 16.18% | 15.68% | 15.46% | 16.75% | 18.29% | 19.98% | 20.54% | 21.84% | 21.09% | 20.2% | 17.5% | 17.66% |
| EBITDA Growth % | 9.94% | 6.48% | 18.35% | -14.6% | 12.15% | 2.5% | -3.26% | -12.27% | -3.39% | 1.79% | 0.27% | -4.98% | 6.47% | 6.91% | 0.6% | 9.23% | 15.25% | -8.2% | 7.49% | 11.24% | 8.87% | -9.76% | -2.87% | -3.84% | 11.92% | -5.07% | -8.94% | 12.13% | 19.79% | 1.47% | 3.56% |
| D&A (Non-Cash Add-back) | 61.56M | 61.1M | 60.33M | 57.82M | 52.47M | 52.05M | 49.64M | 55.02M | 53.24M | 48.52M | 47.02M | 47.94M | 51.46M | 52.02M | 48.35M | 46.1M | 43.42M | 42.18M | 44.45M | 44.31M | 43.04M | 46.77M | 46.24M | 43.1M | 41.29M | 46.29M | 45.55M | 49M | 44.2M | 37.3M | 33.5M |
| EBIT | 220.33M | 207.13M | 191.58M | 155.02M | 196.75M | 170.03M | 152.66M | 121.11M | 202.24M | 167.81M | 185.61M | 166.34M | 130.66M | 172.36M | 191.21M | 190.82M | 174.58M | 146.96M | 161.6M | 147.37M | 129.28M | 94.21M | 129.16M | 137.48M | 146.5M | 121.49M | 131.19M | 124.27M | 107.84M | 107.2M | 108.9M |
| Net Interest Income | -30.14M | -29.58M | -28.78M | -25.17M | -14.55M | -12.54M | -14.81M | -20.11M | -21.85M | -19.38M | -18.32M | -16.95M | -16.07M | -16.15M | -16.9M | -19.44M | -20.38M | -23.79M | -32.31M | -36.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 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 |
| Interest Expense | 30.14M | 29.58M | 28.78M | 25.17M | 14.55M | 12.54M | 14.81M | 20.11M | 21.85M | 19.38M | 18.32M | 16.95M | 16.07M | 16.15M | 16.9M | 19.44M | 20.38M | 23.79M | 32.31M | 36.13M | 35.75M | 44.2M | 31.27M | 35.62M | 29.52M | 22.89M | 49.9M | 26.1M | 21.3M | 16.8M | 40.3M |
| Other Income/Expense | -30.14M | -29.58M | -28.78M | -25.17M | -14.55M | -12.69M | -29.32M | -68.11M | -20.72M | -67.5M | -45.48M | -61.75M | -106.62M | -47.88M | -16.9M | -20.64M | -20.38M | -23.79M | -32.31M | -36.13M | -35.75M | -53.04M | -31.27M | -29.14M | -29.52M | -31.53M | -53.16M | -27.43M | -21.98M | -16.8M | -40.3M |
| Pretax Income | 190.18M | 177.55M | 162.8M | 129.85M | 182.2M | 157.48M | 137.84M | 101M | 181.53M | 148.42M | 167.28M | 149.4M | 114.6M | 156.22M | 174.31M | 171.38M | 154.19M | 123.17M | 129.29M | 111.24M | 93.53M | 58.48M | 97.89M | 108.34M | 116.97M | 89.96M | 78.03M | 119M | 107.6M | 90.4M | 68.6M |
| Pretax Margin % | 11.49% | 11.01% | 10.45% | 8.92% | 12.68% | 11.41% | 10.35% | 7.63% | 13.09% | 10.9% | 12.09% | 10.86% | 7.92% | 10.64% | 11.95% | 11.98% | 11.61% | 10.25% | 10.32% | 9.39% | 8.51% | 5.71% | 9.35% | 10.97% | 12.45% | 11.01% | 9.64% | 12.93% | 12.56% | 10.95% | 8.51% |
| Income Tax | 45.99M | 43.06M | 38.13M | 36.46M | 41.32M | 38.74M | 28.37M | 18.96M | 24.16M | 58.82M | 44.37M | 42.15M | 32.83M | 42.92M | 50.4M | 50.9M | 47.05M | 36.61M | 38.43M | 33.46M | 27.1M | 14.28M | 23.97M | 26.91M | 36.28M | 25M | 21.68M | 38.9M | 35M | 25.7M | 24.4M |
| Effective Tax Rate % | 24.18% | 24.25% | 23.42% | 28.08% | 22.68% | 24.6% | 20.58% | 18.77% | 13.31% | 39.63% | 26.52% | 28.21% | 28.65% | 27.47% | 28.91% | 29.7% | 30.51% | 29.73% | 29.72% | 30.08% | 28.98% | 24.42% | 24.49% | 24.84% | 31.02% | 27.79% | 27.79% | 32.69% | 32.53% | 28.43% | 35.57% |
| Net Income | 144.2M | 134.49M | 124.67M | 93.39M | 140.89M | 118.75M | 109.47M | 82.05M | 157.36M | 89.6M | 126.26M | 106.78M | 73.65M | 113.3M | 123.91M | 120.48M | 107.14M | 86.56M | 90.86M | 77.79M | 66.42M | 44.2M | 73.92M | 81.43M | 80.69M | 73.6M | 59.61M | 80.1M | 72.6M | 64.7M | 44.2M |
| Net Margin % | 8.71% | 8.34% | 8.01% | 6.41% | 9.8% | 8.6% | 8.22% | 6.2% | 11.35% | 6.58% | 9.13% | 7.76% | 5.09% | 7.72% | 8.49% | 8.42% | 8.07% | 7.2% | 7.25% | 6.57% | 6.05% | 4.32% | 7.06% | 8.25% | 8.59% | 9.01% | 7.37% | 8.7% | 8.47% | 7.84% | 5.48% |
| Net Income Growth % | 12.49% | 7.88% | 33.48% | -33.71% | 18.65% | 8.47% | 33.43% | -47.86% | 75.63% | -29.03% | 18.23% | 45% | -35% | -8.57% | 2.84% | 12.45% | 23.78% | -4.73% | 16.81% | 17.1% | 50.3% | -40.21% | -9.23% | 0.92% | 9.63% | 23.47% | -25.58% | 10.33% | 12.21% | 46.38% | -33.13% |
| Net Income (Continuing) | 144.2M | 134.49M | 124.67M | 93.39M | 140.89M | 118.75M | 109.47M | 82.05M | 157.36M | 89.6M | 122.91M | 107.25M | 81.77M | 114.3M | 125.08M | 120.48M | 107.14M | 86.56M | 90.86M | 77.79M | 66.42M | 44.2M | 73.92M | 81.43M | 80.69M | 64.96M | 56.35M | 66.51M | 59.4M | 64.7M | 44.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.34M | 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 | 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 |
| EPS (Diluted) | 3.38 | 3.16 | 2.94 | 2.21 | 3.34 | 2.81 | 2.59 | 1.94 | 3.70 | 2.03 | 2.82 | 2.31 | 1.51 | 2.27 | 2.49 | 2.41 | 2.17 | 1.78 | 1.89 | 1.65 | 1.44 | 0.94 | 1.58 | 1.73 | 1.69 | 1.54 | 1.26 | 1.61 | 1.43 | 1.26 | 0.85 |
| EPS Growth % | 12.25% | 7.48% | 33.03% | -33.83% | 18.86% | 8.49% | 33.51% | -47.57% | 82.27% | -28.01% | 22.08% | 52.98% | -33.48% | -8.84% | 3.32% | 11.06% | 21.91% | -5.82% | 14.55% | 14.58% | 53.19% | -40.51% | -8.67% | 2.37% | 9.74% | 22.22% | -21.74% | 12.59% | 13.49% | 48.24% | -33.07% |
| EPS (Basic) | - | 3.18 | 2.96 | 2.22 | 3.36 | 2.82 | 2.59 | 1.94 | 3.71 | 2.05 | 2.84 | 2.33 | 1.52 | 2.28 | 2.50 | 2.42 | 2.18 | 1.79 | 1.91 | 1.66 | 1.45 | 0.95 | 1.59 | 1.74 | 1.70 | 1.54 | 1.27 | 1.62 | 1.45 | 1.27 | 0.86 |
| Diluted Shares Outstanding | 42.67M | 42.59M | 42.4M | 42.24M | 42.21M | 42.26M | 42.35M | 42.29M | 42.5M | 44.03M | 44.84M | 46.2M | 48.82M | 49.93M | 49.82M | 49.94M | 49.42M | 48.64M | 48.13M | 47.26M | 46.2M | 47.07M | 46.88M | 47.04M | 47.79M | 47.93M | 49.17M | 50.78M | 51.92M | 51.35M | 52M |
| Basic Shares Outstanding | 42.29M | 42.24M | 42.15M | 42.03M | 41.89M | 42.08M | 42.3M | 42.26M | 42.4M | 43.78M | 44.52M | 45.91M | 48.52M | 49.76M | 49.6M | 49.75M | 49.14M | 48.38M | 47.65M | 46.74M | 45.9M | 46.75M | 46.56M | 46.74M | 47.38M | 47.67M | 48.9M | 50.47M | 51.21M | 50.94M | 51.4M |
| Dividend Payout Ratio | - | 51.76% | 55.53% | 74.12% | 48.92% | 56.17% | 60.34% | 75.8% | 36.48% | 60.31% | 39.31% | 45.05% | 65.03% | 40.17% | 35.05% | 34.83% | 36.41% | 42.79% | 39.18% | 41.16% | 42.59% | 63.98% | 38.01% | 34.57% | 31.65% | 34.45% | 43.61% | 33.38% | 37.4% | 40.96% | 58.37% |
Raw material cost volatility
According to the most recent quarterly data, SXT achieved a notable 11.1% revenue growth in 2026Q1, marking a significant departure from the more modest mid-single-digit expansion observed throughout the prior fiscal year and suggesting a potential inflection in demand for the company's specialized ingredient portfolio.
The acceleration to double-digit growth in the latest quarter warrants close observation to determine if this represents a sustainable shift in market share or a temporary timing benefit. Investors should monitor whether this top-line momentum is driven by volume expansion in the natural color segment or if it reflects successful pricing actions across the broader flavor and extract portfolio.
As reported in the latest financial statements, SXT's gross margin reached 35.0% in 2026Q1, representing a meaningful recovery from the 28.6% trough seen in 2023Q4 and indicating an improved ability to pass through inflationary input costs to the company's fragmented mid-market customer base.
The consistent expansion of gross margins over the last several quarters suggests that the firm's value-add proposition remains robust despite broader chemical industry headwinds. This trend implies that the company's proprietary extraction processes provide sufficient differentiation to maintain pricing power, though sustained margin stability will depend on the continued moderation of agricultural input price volatility.
Based on the provided income statement figures, operating income scaled to $66.7M in 2026Q1, demonstrating that the company is successfully leveraging its fixed cost base as operating margins expanded to 15.3% compared to the 12.3% level recorded in the same period of the previous year.
The ability to grow operating income faster than gross profit suggests that management's recent efforts to streamline operations and rationalize SKUs are beginning to yield tangible efficiency gains. Investors should monitor whether this operating leverage persists, as it appears to be a critical component in the company's path toward higher long-term profitability.
Analysis of the reported financials reveals that net income reached $44.2M in 2026Q1, with stock-based compensation remaining relatively contained at $3.8M, suggesting that the company's earnings growth is primarily driven by core operational performance rather than significant non-cash accounting adjustments or excessive dilution of shareholder equity.
The absence of significant non-operating distortions in the recent quarters points to a higher quality of earnings compared to the volatility experienced in late 2023. While the tax rate and other non-operating items warrant ongoing scrutiny, the current earnings profile appears to reflect a more disciplined approach to managing the bottom line.
While recent performance appears positive, skeptics might argue that the 35.0% gross margin level is vulnerable to a reversal if agricultural commodity prices spike, as the company's historical data shows significant sensitivity to raw material costs that could quickly compress profitability in a less favorable environment.
The rapid improvement in margins from the 2023 lows may be partially attributed to favorable inventory accounting or temporary pricing lags rather than a permanent structural shift. Investors should remain cautious, as any inability to sustain these margin levels could lead to a re-rating of the stock if the market perceives the recent growth as cyclical rather than structural.
Quick answers to the most common questions about buying SXT stock.
For fiscal year 2025, Sensient Technologies Corporation (SXT) reported total revenue of $1.61B. This represents a 99.9% increase compared to $806.4M in 1996.
Sensient Technologies Corporation (SXT) is profitable, generating $134.5M in net income for the fiscal year ending 2025 with a net profit margin of 8.3%.
Sensient Technologies Corporation (SXT) reported an operating income of $207.1M, resulting in an operating profit margin of 12.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Sensient Technologies Corporation (SXT) generated $539.3M in gross profit for the year, representing a gross profit margin of 33.5%. This demonstrates the company's core pricing power and production efficiency.