Frontierby eninvs

Language: EN / RU

← Region

The Mosaic Company USD

The Mosaic Company produces and sells concentrated phosphate and potash crop nutrients, as well as phosphate-based animal feed ingredients, through its mining, processing, and production operations.

At a glance: strengths & risks
✗Revenue declining (-6% y/y, Q2 2026)✗Profit falling (-166% y/y, Q2 2026)✗Margins compressing (17%→14%, Q2 2026)✗Pricier than own history (EV/EBITDA 10.0 vs avg 6.8)

Sector: Fertilizers

Geography: USA, Canada, Brazil, Peru

COMM_MOS

Price chart

17.84 USDDay 3.30%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
17.84 USD · 3.30%
Market cap
5.7 bn USD

Growth

Δ revenue y/y
-6.0%
Δ EBITDA y/y
-19.5%

Multiples

P/E (LTM)
—
3y avg: 22.8x
P/B (FY)
0.5x
P/E (ann.)
<0
EV/EBITDA (LTM)
10.0x
3y avg: 6.8x
EV/EBITDA (ann.)
7.0x

Cash return

Dividend yield
4.9%
FCF yield (LTM)
-16.2%

Value creation

to target market cap (spot commodity model)
Upside (potential)
-94.5%
↓ details

Liquidity

Daily turnover (listing)
294.9 mln USD

Shares: yahoo_fundamentals_timeseries/MOS

Financial results

Monetary columns are in B USD, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB USDOperating profitB USDD&AB USDEBITDAB USDNet profitB USDOperating CFB USDCapex + M&AB USDAssetsB USDEquityB USDROE (annualized)Net debtB USDSource
2026-06-30Q2 2026 (3M)OK2.8
y/y -6.0%
0.0
y/y -114.5%
0.4
y/y 69.3%
0.4
y/y -19.5%
-0.3
y/y -166.4%
0.2-0.324.6
y/y 1.4%
11.5
y/y -7.8%
-9.4%5.7Yahoo Finance
2026-03-31Q1 2026 (3M)OK3.0
y/y 14.4%
-0.4
y/y -210.2%
0.3
y/y 30.3%
-0.1
y/y -109.7%
-0.3
y/y -208.2%
0.1-0.424.6
y/y 6.1%
11.8
y/y 0.3%
-8.6%5.4Link
2025-12-31Q4 2025 (3M)OK3.0
y/y 5.6%
-0.1
y/y -201.3%
0.3
y/y -4.9%
0.2
y/y -56.3%
-0.5
y/y -407.4%
-0.1-0.324.5
y/y 6.8%
12.1
y/y 5.2%
4.3%5.0Link
2025-09-30Q3 2025 (3M)OK3.5
y/y 22.8%
0.3
y/y 194.5%
0.3
y/y 16.4%
0.6
y/y 74.6%
0.4
y/y 236.7%
0.2-0.424.7
y/y 5.9%
12.8
y/y 8.2%
4.4%4.6Link
2025-06-30Q2 2025 (3M)OK3.0
y/y 6.7%
0.2
y/y 4.8%
0.3
y/y -1.0%
0.5
y/y 1.7%
0.4
y/y —
0.6-0.324.3
y/y 7.7%
12.4
y/y 6.5%
13.6%4.3Link
2025-03-31Q1 2025 (3M)OK2.6
y/y -2.2%
0.3
y/y 95.8%
0.2
y/y 0.8%
0.6
y/y 40.5%
0.2
y/y 426.8%
0.0-0.323.2
y/y 1.3%
11.8
y/y -2.1%
8.2%4.5Link
2024-12-31Q4 2024 (3M)OK2.8
y/y -10.6%
0.1
y/y -64.1%
0.3
y/y 9.5%
0.4
y/y -28.8%
0.2
y/y -53.7%
0.2-0.322.9
y/y -0.5%
11.5
y/y -6.6%
1.5%4.1Link
2024-09-30Q3 2024 (3M)OK2.8
y/y -20.8%
0.1
y/y -20.9%
0.2
y/y -0.3%
0.4
y/y -8.1%
0.1
y/y —
0.3-0.223.3
y/y 2.8%
11.8
y/y -2.0%
1.4%3.9Link
2024-06-30Q2 2024 (3M)OK2.8
y/y -17.0%
0.2
y/y -36.8%
0.3
y/y 8.3%
0.5
y/y -18.9%
-0.2
y/y -143.8%
0.8-0.322.6
y/y -2.5%
11.7
y/y -5.8%
-5.5%4.0Link
2024-03-31Q1 2024 (3M)OK2.7
y/y -25.7%
0.2
y/y -68.3%
0.2
y/y 9.6%
0.4
y/y -45.9%
0.0
y/y -89.6%
-0.1-0.422.9
y/y 0.1%
12.0
y/y 1.1%
1.5%4.3Link
2023-12-31Q4 2023 (3M)OK3.1
y/y —
0.3
y/y —
0.3
y/y —
0.5
y/y —
0.4
y/y —
0.5-0.423.0
y/y —
12.3
y/y —
9.6%3.5Link
2023-09-30Q3 2023 (3M)OK3.5
y/y —
0.1
y/y —
0.2
y/y —
0.4
y/y —
0.0
y/y —
0.6-0.422.7
y/y —
12.1
y/y —
-0.0%2.3Link
2023-06-30Q2 2023 (3M)OK3.4
y/y —
0.4
y/y —
0.2
y/y —
0.6
y/y —
0.4
y/y —
1.1-0.323.1
y/y —
12.4
y/y —
12.1%2.2Link
2023-03-31Q1 2023 (3M)OK3.6
y/y —
0.5
y/y —
0.2
y/y —
0.8
y/y —
0.4
y/y —
0.1-0.322.9
y/y —
11.9
y/y —
—3.0Link

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)1 091
Long-term debt (incl. LT leases)4 921
− Cash & equivalents294
Net debt5 718

Net debt / LTM EBITDA: 5.0x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

-1 00001 0002 0003 0004 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-150%-100%-50%0%50%100%2024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

Operating and investing cash flow (OCF + ICF) ($ mln)

-50005001 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

02 0004 0006 0002024 q12024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Worth a look
In a typical year of 2023–2025 operating cash flow came to 2.07x of reported net profit; after capex, 0.27x.
year202320242025
cash flow / profit2.07x7.43x1.52x
accruals, % of assets-5.4%-4.9%-1.2%
net debt / EBITDA 2.6x · EBIT covers interest 3.4x · capex 1.3x of depreciation · dividends 174% of free cash flow · share count -2.2% a year
● Dividends were 174% of the free cash flow earned over the window.
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Production & Reserves

Physical operating metrics — supplementary, not part of the financial statements

Phosphate production

Proved reserves
763.40 Mt
2025
Reserve life (R/P)
40.6 yrs
reserves ÷ annual output
Annual production
18.80 Mt
2025

Production, Mt

17.70202317.60202418.802025

Proved reserves

YearReserves, Mt
2025763.40

Production

YearProduction, Mt
202518.80
+6.8%
202417.60
−0.6%
202317.70

SEC 10-K/20-F (CIK 1285785), отчёт за 2025-12-31: добыча и запасы основного продукта. Извлечение DeepSeek с двумя проверками — каждое число найдено в тексте самой формы, повторы значений между годами сняты. Обновляется scripts/extract_commodity_ops_deepseek.py.

Key-commodity price — North America Fertilizer Index (Green Markets)

Current 802spot vs LTM +4%

Commodity-player potential

Target market cap from conservative EBITDA and the historical EV/EBITDA

Upside: -94.5% ▼ -3.3 pp 1d

Main driver: North America Fertilizer Index (Green Markets) +6% vs LTM; revenue ×1.06 vs costs ×1.10; EBITDA 1 134→624; at 9.8× EV/EBITDA → -94%.

Product prices — moves vs the LTM average

CommodityShareSpotLTM3-yrvs LTM, $3y vs LTM
North America Fertilizer Index (Green Markets) (rev)+40%802.40758.08671.06+6%-11%
DAP FOB NOLA (rev)+39%802.50716.81670.44+12%-6%
Potash (US Gulf Nola) (cost)-29%723.37756.10680.57-4%-10%
Potash (US Gulf Nola) (rev)+21%723.37756.10680.57-4%-10%
DAP FOB NOLA (cost)-19%802.50716.81670.44+12%-6%
Ammonia (Black Sea) (cost)-16%423.78338.24389.89+25%+15%
Phosphoric Acid (cost)-14%167.98153.94147.13+9%-4%
Henry Hub Gas (cost)-7%2.643.383.12-22%-8%
China Sulfur (cost)-7%5 714.254 402.853 556.18+30%-19%
Electricity Spot (cost)-1%265.4077.9264.17+241%-18%

How it is calculated — revenue → costs → EBITDA → target market cap

1 · Reported baseline (LTM)
LTM revenue12 248
LTM EBITDA1 134
LTM cash costs (revenue − EBITDA)11 113
2 · Revenue projection
Revenue multiplier — spot×1.062 (+6%)
= Spot revenue13 009
Revenue multiplier — 3y price×0.909 (-9%)
= 3-year-price revenue11 130
3 · Costs projection
Cost multiplier — spot×1.101 (+10%)
= Spot cash costs12 240
Cost multiplier — 3y price×0.958 (-4%)
= 3-year-price cash costs10 651
4 · EBITDA projection (revenue − costs)
= Spot EBITDA769
= 3-year-price EBITDA479
Conservative EBITDA = min(spot, avg)624
5 · Valuation → target market cap
Historical EV/projected-EBITDA (75th pct)9.8x
Target EV = EV/EBITDA × conservative EBITDA6 103
Net debt5 718
Target market cap = EV − net debt312
Current market cap5 671

Upside = target market cap ÷ current − 1 = -94.5%

Life of mine: 41 yrs

Spot model vs reported — what the spot model projected (trailing-LTM base brought to the period × the period's commodity-price move) against the actual report, per reported period (quarter, half-year or full year — per the filer's calendar); amounts in USD mln. green = reported above projection, pink = below.

PeriodAct. revModel revΔ revAct. EBITDAModel EBITDAΔ EBITDA
2024 Q12 6793 523-23.9%414879-52.9%
2024 Q22 8173 050-7.6%498460+8.1%
2024 Q32 8112 958-5.0%353442-20.1%
2024 Q42 8162 846-1.0%382414-7.8%
2025 Q12 6213 080-14.9%582478+21.6%
2025 Q23 0063 337-9.9%506689-26.5%
2025 Q33 4523 575-3.4%617834-26.0%
2025 Q42 9743 231-8.0%167456-63.4%
2026 Q12 9983 169-5.4%-56441-112.8%
2026 Q22 8243 563-20.7%407365+11.5%

Revenue growth & acceleration

Growth accelerating ▲
Last-year revenue growth +8% vs -19% the year before — a +27.1 pp move. 3-year CAGR —.
revenue growth by year: 2024 -19% · 2025 +8%
The growth-acceleration signal behind the GARP+acceleration strategy — it favours companies whose revenue growth is speeding up and flags those slowing down (the second derivative of growth).

EV/EBITDA — LTM vs projected

Projected EV/EBITDA 9.2x · target 75th pct (3y) 9.8x · LTM avg 8.7x

EV/EBITDA (LTM)EV/EBITDA (projected)target 75th pct (projected, 3y)

Peer comparison

Group: Fertilizers. Each peer is shown as it trades and re-priced onto this company's market (global) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
FertiglobeUAE4.94.4x3.3x
Intrepid Potashglobal0.43.7x3.7x
CF Industriesglobal19.25.0x5.0x
Nutrienglobal33.66.7x6.7x
Group median4.7x4.4x
Group average5.0x4.7x
This companyglobal5.510.0x10.0x

Group median 4.7x as traded, 4.4x adjusted; this company 10.0x — a 130% premium.

Group average 5.0x as traded, 4.7x adjusted; against the average this company is at a 113% premium.

At the adjusted group median the market cap would be -106% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 20.5x, Russia 3.7x, South Africa 5.0x, Kazakhstan 4.7x, India 18.7x, Indonesia 5.4x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-23; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-09-100.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2026-05-210.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2026-03-090.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2025-12-040.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2025-09-080.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2025-06-050.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2025-03-060.22 USDEx-dividend: 0.22 USD per sharePaidYahoo Finance (ex-div)
2024-12-050.21 USDEx-dividend: 0.21 USD per sharePaidYahoo Finance (ex-div)
2024-09-050.21 USDEx-dividend: 0.21 USD per sharePaidYahoo Finance (ex-div)
2024-06-060.21 USDEx-dividend: 0.21 USD per sharePaidYahoo Finance (ex-div)
2024-03-060.21 USDEx-dividend: 0.21 USD per sharePaidYahoo Finance (ex-div)
2023-12-060.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2023-09-060.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2023-05-310.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2023-03-140.25 USDEx-dividend: 0.25 USD per sharePaidYahoo Finance (ex-div)
2023-03-010.2 USDEx-dividend: 0.2 USD per sharePaidYahoo Finance (ex-div)
2022-11-300.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2022-08-310.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2022-06-010.15 USDEx-dividend: 0.15 USD per sharePaidYahoo Finance (ex-div)
2022-03-020.113 USDEx-dividend: 0.113 USD per sharePaidYahoo Finance (ex-div)
2021-12-010.075 USDEx-dividend: 0.075 USD per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of The Mosaic Company — from primary filings.

Frequently asked questions

What is The Mosaic Company's EV/EBITDA?
The Mosaic Company trades at 10.0x EV/EBITDA.
What is The Mosaic Company's P/B ratio?
The Mosaic Company trades at a P/B of 0.5x.
What is The Mosaic Company's dividend yield?
The Mosaic Company's trailing 12-month dividend yield is 4.9%.
What is The Mosaic Company's return on equity (ROE)?
The Mosaic Company's ROE is -9.4%.
What is The Mosaic Company's market capitalization?
The Mosaic Company's market cap is 5.7 bn USD.

See also: The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map