Forensic Analysis · General / Diversified · as of Jun 27, 2026
FMC CORP (FMC)
A forensic read on FMC CORP built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
B · Sound & dependable
Forensic grade
Grey Zone
Financial health
1.4
Altman Z-score
Clean
Earnings quality
4
Forensic signals
-83.0%
ROE
$1.5B
Market cap
2.90%
Dividend yield
FMC CORP earns a B (Sound & dependable) forensic quality grade, and its Altman Z-score is 1.4, placing it in the Grey zone. 4 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-22%Return on invested capital.Return on invested capital is -22% and slipping from 14% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
204dInventory days.Days inventory outstanding moved from 169 to 204 FY2024→FY2025 (against cost of goods sold; inventory +1% vs -16% in cost of sales). Inventory is building a little faster than sales — watch for markdowns.
-0.4%/yrShare-count dilution.Diluted share count changed -1% over the last 3 years to FY2025 (-0.4%/yr). Roughly flat — buybacks are about offsetting stock comp, not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.
$1.4BGoodwill impairments.Took $1.4B of goodwill writedowns across 1 year(s) (FY2025 ($1.4B)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-64.6%
Debt / Equity1.62x
Latest Revenue$3.47B
Return on Equity-108.1%
Revenue Growth YoY-18.3%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on FMC CORP:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about FMC's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown