AI Takeaway
MOS delivered strong FY2025 results with revenue up 8.4% to $12.1B, net income surging 209% to $540.7M, and gross margin expanding 220 basis points to 15.8%, though operating cash flow declined 36.5% year-over-year.
Revenue
$12.05B
++8.36% YoY
EPS (Basic)
$1.70
++209.09% YoY
Gross Margin
15.8%
++2.19% YoY
Operating Income
$821.5M
++32.18% YoY
Filed · Analysis updated · Source: SEC EDGAR 10-K filing
MOS grew total revenue by 8.4% year-over-year from $11.1B to $12.1B in FY2025, suggesting improved demand conditions and/or pricing across its fertilizer segments. This top-line expansion outpaced cost of revenue growth of 5.6%, resulting in meaningful margin improvement.
Source: Source: 10-K Income Statement, Financial Data
Net income surged 209% from $175.0M to $540.7M, with basic and diluted EPS both rising from $0.55 to $1.70. This outsized bottom-line improvement relative to revenue growth reflects significant operating leverage and improved cost management in FY2025.
Source: Source: 10-K Income Statement, Financial Data
Gross margin improved from 13.6% to 15.8% (+2.2 percentage points) and operating margin expanded from 5.6% to 6.8% (+1.2 percentage points), indicating that revenue growth outpaced cost increases and SG&A discipline was maintained with SG&A rising only 7.4% to $533.9M.
Source: Source: 10-K Income Statement & Key Ratios, Financial Data
2 more insights available
Upgrade to unlockDespite a 209% surge in net income, operating cash flow declined 36.5% to $824.8M in FY2025, indicating significant working capital build-up or other non-cash adjustments. This divergence between earnings and cash generation could constrain capital allocation flexibility and debt service capacity if it persists.
Source: Source: 10-K Cash Flow Statement, Financial Data
Unlock 4 more detailed risk analysis
Upgrade to unlockReported EPS of $0.22 versus the $0.47 analyst consensus — a -53.3% miss for FY2025.
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue | $12.05B | $11.12B | +8.36% |
Cost of Revenue | $10.15B | $9.61B | +5.61% |
Gross Profit | $1.9B | $1.51B | +25.80% |
Operating Income | $821.5M | $621.5M | +32.18% |
Net Income | $540.7M | $175M | +208.97% |
EPS (Basic) | $1.70 | $0.55 | +209.09% |
EPS (Diluted) | $1.70 | $0.55 | +209.09% |
SG&A Expense | $533.9M | $496.9M | +7.45% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Total Assets | $24.48B | $22.92B | +6.79% |
Current Assets | $5.24B | $4.5B | +16.43% |
Current Liabilities | $3.98B | $4.17B | -4.52% |
Stockholders' Equity | $12.08B | $11.48B | +5.25% |
Cash & Equivalents | $276.6M | $272.8M | +1.39% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Operating Cash Flow | $824.8M | $1.3B | -36.51% |
Investing Cash Flow | $-1.31B | $-1.26B | -3.85% |
Financing Cash Flow | $452M | $-131.9M | +442.68% |
Share Buybacks | $0 | $235.4M | -100.00% |
D&A | $1.05B | $1.03B | +2.38% |
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Gross Margin | 15.8% | 13.6% | +2.19% |
Operating Margin | 6.8% | 5.6% | +1.23% |
Net Margin | 4.5% | — | — |
ROE | 4.5% | — | — |
ROA | 2.2% | — | — |
Current Ratio | $1.315 | — | — |
Other companies in Fertilizers & Agricultural Chemicals
MOS had a strong FY2025 with revenue growing 8.4% to $12.1B and net income surging 209% to $540.7M. Gross margin expanded to 15.8% from 13.6%, and EPS tripled from $0.55 to $1.70, signaling a significant earnings recovery.
MOS's net income jumped 209% from $175.0M to $540.7M in FY2025, driven by revenue growth of 8.4% combined with cost of revenue growing at a slower pace of 5.6%, creating significant operating leverage. Operating income also rose 32.2% to $821.5M, reflecting improved efficiency across the business.
Key risks include a 36.5% decline in operating cash flow to $824.8M despite higher earnings, suggesting working capital pressures, and a very high cost structure where cost of revenue consumes 84.2% of revenue. Additionally, MOS halted share buybacks entirely and financing cash flow swung sharply positive, potentially indicating new debt issuance.
No — despite the strong earnings recovery, MOS's operating cash flow actually declined 36.5% from $1.30B to $824.8M in FY2025, likely due to working capital build-up. Investing outflows also increased slightly to $1.31B, meaning free cash flow was under pressure even as reported profits surged.
MOS's balance sheet shows total assets of $24.5B and stockholders' equity of $12.1B, with a current ratio of 1.32 indicating adequate short-term liquidity. However, ROE of 4.5% and ROA of 2.2% remain modest for the capital deployed, and the gap between net income and operating cash flow warrants close attention.