The Mosaic CompanyMOS
NYSE•Basic Materials•Agricultural Inputs
The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients. It operates in three segments: Phosphates, Potash, and Mosaic Fertilizantes. The company owns and operates mines and production facilities, which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, as well as concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and MicroEssentials, a value-added ammoniated phosphate product. It also mines, processes, and sells potash to crop nutrient manufacturers, distributors, retailers, and to customers for industrial use; and owns and operates mines, chemical plants, crop nutrient blending and bagging facilities, port terminals and warehouses, which produce and sell concentrated phosphate and potash-based crop nutrients, and phosphate-based animal feed ingredients. In addition, the company produces a double sulfate of potash magnesia product under the K-Mag brand; and purchases phosphate, potash, and nitrogen products to produce blended crop nutrients. Further, it offers triple superphosphate, single superphosphate, and dicalcium phosphate; feed phosphate under the Biofos and Nexfos brands; potash for de-icing and as a water softener regenerant; and phosphogypsum. The company sells its products to wholesale distributors, retail chains, cooperatives, independent retailers, and national accounts through its sales force. It also exports its products. The company operates in the United States, Brazil, China, Canada, Paraguay, Argentina, Japan, Colombia, India, Australia, Peru, Mexico, Honduras, the Dominican Republic, Indonesia, and internationally. The Mosaic Company was incorporated in 1987 and is headquartered in Tampa, Florida.
Mosaic Company (The) (MOS) reported trailing twelve months revenue of $12.06B as of March 2026, a 9.0% increase year-over-year. Quarterly revenue reached $3.00B, reflecting continued top-line momentum.
Mosaic Company (The) generated $726.70M in TTM net income, with quarterly EBITDA of $-372.90M. The operating margin contracted from 12.9% to -12.4%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (-12.4%) and net margin (-8.6%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 9.1% a year ago, reflecting increased costs or interest expense.
MOS trades at a P/E of 10.9x (below the broader market average) and a P/S of 0.7x. The price-to-book ratio of 0.7x suggests the stock trades below its book value.
The company reported negative free cash flow of $-252.60M, indicating cash consumption over the period. The balance sheet shows $24.57B in total assets with $4.27B in long-term debt against $11.80B in stockholders equity for a debt-to-equity ratio of 0.4, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are under pressure, averaging 5.4%. The business may lack pricing power or face rising costs.'
ROE is positive at ~5.4% on average, adequate but below the threshold typically associated with wide moats.
Only 3 of the last 8 quarters had positive FCF — the business may require external capital to sustain operations.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 21 quarters
Operating margins dropped 49.4% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
Free cash flow has been negative in 5 of the last 8 quarters — earnings are not translating to cash.
Debt-to-equity has risen 27.9% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
5 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation