Loading financials from SEC filings…
Chemicals · Basic Materials · Fiscal year ends Dec 31
Minerals Technologies reported revenue of $2.1B in the fiscal year ended Dec 2025, down 2.2% from the year before. Operating income was $47M, an operating margin of 2.3%, and net income was −$18M. Operating cash flow of $194M less capital expenditure of $107M left free cash flow of $87M. Net debt was $632M.
Ranks among the 18 chemicals companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 1,858 | 2,126 | 2,170 | 2,119 | 2,073 |
| Cost of revenue | 1,412 | 1,661 | 1,663 | 1,571 | 1,555 |
| Gross profit | 447 | 465 | 507 | 548 | 518 |
| Research & development | 19.5 | 20.4 | 21.2 | 23.0 | 22.9 |
| Selling, general & admin | 186 | 192 | 206 | 209 | 208 |
| Operating income | 236 | 215 | 172 | 287 | 47.4 |
| Interest expense | 37.2 | 43.9 | 59.2 | – | – |
| Pre-tax income | 202 | 157 | 108 | 224 | −14.0 |
| Income tax | 36.6 | 32.1 | 23.7 | 59.4 | 4.9 |
| Net income | 164 | 122 | 84.1 | 167 | −18.4 |
| Diluted EPS | 4.86 | 3.73 | 2.58 | 5.17 | −0.59 |
| Diluted shares | 33.8 | 32.8 | 32.6 | 32.3 | 31.4 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 300 | 247 | 317 | 333 | 329 |
| Receivables | 368 | 404 | 399 | 385 | 400 |
| Inventory | 298 | 349 | 325 | 342 | 350 |
| Current assets | 1,029 | 1,071 | 1,099 | 1,131 | 1,156 |
| Net PP&E | 1,049 | 1,050 | 987 | 990 | 1,025 |
| Goodwill | 908 | 915 | 914 | 914 | 916 |
| Total assets | 3,374 | 3,402 | 3,347 | 3,394 | 3,469 |
| Payables | 196 | 194 | 189 | 186 | 188 |
| Current liabilities | 420 | 503 | 457 | 398 | 555 |
| Short-term debt | 0.8 | 14.5 | 18.0 | 6.5 | 6.3 |
| Long-term debt | 936 | 928 | 911 | 960 | 955 |
| Total liabilities | 1,795 | 1,788 | 1,660 | 1,611 | 1,719 |
| Shareholders' equity | 1,539 | 1,580 | 1,652 | 1,747 | 1,713 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 232 | 106 | 234 | 236 | 194 |
| Capital expenditure | 86.0 | 82.3 | 93.5 | 89.5 | 107 |
| Free cash flow | 146 | 23.4 | 140 | 147 | 86.6 |
| Stock-based compensation | 10.7 | 10.4 | 11.3 | 11.8 | 11.9 |
| Acquisitions | 194 | 22.4 | 1.8 | 4.0 | 0.0 |
| Share buybacks | 74.7 | 56.0 | 14.2 | 63.6 | 58.5 |
| Dividends paid | 6.8 | 6.5 | 8.1 | 13.2 | 14.2 |
| Dividend per share | 0.20 | 0.20 | 0.25 | 0.41 | 0.45 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 14.4% | 2.1% | −2.4% | −2.2% |
| Operating income growth (YoY) | – | −8.9% | −20.0% | 66.8% | −83.5% |
| EPS growth (YoY) | – | −23.3% | −30.8% | 100.4% | −111.4% |
| Gross margin | 24.0% | 21.9% | 23.4% | 25.9% | 25.0% |
| Operating margin | 12.7% | 10.1% | 7.9% | 13.5% | 2.3% |
| Net margin | 8.8% | 5.7% | 3.9% | 7.9% | −0.9% |
| Return on equityBlank when equity is negative | 10.7% | 7.7% | 5.1% | 9.6% | −1.1% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.0% | 7.4% | 5.9% | 9.6% | 1.6% |
| Free cash flow margin | 7.9% | 1.1% | 6.5% | 6.9% | 4.2% |
| Cash conversion (CFO ÷ net income) | 1.41x | 0.86x | 2.78x | 1.41x | −10.5x |
| Receivable days | 72 | 69 | 67 | 66 | 70 |
| Inventory days | 77 | 77 | 71 | 79 | 82 |
| Payable days | 51 | 43 | 41 | 43 | 44 |
| Interest cover | 6.34x | 4.89x | 2.90x | – | – |
| Debt ÷ equity | 0.61x | 0.60x | 0.56x | 0.55x | 0.56x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 638 | 695 | 612 | 633 | 632 |
| Current ratio | 2.45x | 2.13x | 2.40x | 2.84x | 2.08x |
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.