BALCHEM CORP

Listed Company

BCPCCIK 0000009326NasdaqLarge AcceleratedChemicals & Allied ProductsMarylandFY ends Dec 31

Period

FY 2025

Revenue

$1.04B

Net Income

$154.84M

Total Assets

$1.69B

Equity

$1.26B

Shares Out

32.13M

Op. Cash Flow

$216.56M

Business

BALCHEM CORP develops, manufactures, distributes and markets specialty performance ingredients and products for nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition and industrial markets. Its main products and services include human-grade choline nutrients, mineral amino acid chelates, vitamin K2, MSM, microencapsulation solutions, custom spray-dried and emulsified food systems, performance gases (ethylene oxide, propylene oxide, ammonia) and foliar-applied Metalosate® plant nutrition products. The business operates through three reportable segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products. Products are sold worldwide through Balchem’s direct salesforce, independent distributors and sales agents to food and beverage makers, pharmaceutical and medical device customers, contract sterilizers, farmers and industrial users.

Summary from filing dated 2025-02-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,037	954	922	942	799
Cost of sales	667	617	620	662	556
Gross margin	371	336	302	280	243
Selling expenses	75	69	74	67	60
Research and development expenses	19	17	15	12	14
General and administrative expenses	67	68	53	56	42
Total operating expenses	161	153	143	135	116
Earnings from operations	209	183	159	145	128
Interest expense, net	10	17	23	10	—
Other expense (income), net	77,000	−72,000	−681,000	1	−187,000
Total other expenses	10	16	22	11	2
Earnings before income tax expense	199	166	137	134	125
Income tax expense	44	38	29	28	29
Net earnings	155	128	109	105	96
Net earnings per share - basic (in dollars per share)	4.8	3.97	3.38	3.29	2.98
Diluted net earnings per common share (in dollars per share)	4.75	3.93	3.35	3.25	2.94

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	75	50	64	67	103
Accounts receivable, net of allowance for credit losses of $862 and $909 at December 31, 2025 and 2024, respectively	144	120	125	132	117
Inventories, net	131	131	110	120	91
Prepaid expenses	10	8	8	5	6
Other current assets	6	6	7	7	4
Total current assets	366	314	314	336	322
Property, plant and equipment, net	307	282	276	271	238
Goodwill	816	780	779	770	524
Customer relationships and lists	133	132	191	213	95
Other intangible assets with finite lives, net	30	33	—	—	—
Right of use assets - operating leases	15	15	18	17	7
Right of use assets - finance lease	2	2	2	2	2
Other non-current assets	18	17	17	15	12
Total assets	1,686	1,575	1,597	1,625	1,199
Trade accounts payable	60	55	56	57	56
Accrued expenses	49	44	41	37	43
Accrued compensation and other benefits	28	23	17	17	20
Dividends payable	31	29	26	23	21
Income tax payable	4	4	5	2	1
Operating lease liabilities - current	4	3	4	4	2
Finance lease liabilities - current	205,000	194,000	272,000	226,000	167,000
Total current liabilities	176	158	148	140	144
Revolving loan	164	190	310	441	109
Deferred income taxes	54	44	52	63	46
Operating lease liabilities - non-current	11	13	15	14	5
Finance lease liabilities - non-current	2	2	2	2	2
Other long-term obligations	21	19	17	27	14
Total liabilities	429	425	543	686	322
Commitments and contingencies (Note 15)	—	—	—	—	—
Preferred stock, $25 par value. Authorized 2,000,000 shares; none issued and outstanding	0	0	0	0	0
Common stock, $.0667 par value. Authorized 120,000,000 shares; 32,058,121 shares issued and outstanding at December 31, 2025 and 32,527,244 shares issued and outstanding at December 31, 2024, respectively	2	2	2	2	2
Additional paid-in capital	92	174	146	129	148
Retained earnings	1,121	997	897	814	732
Accumulated other comprehensive income (loss)	42	−24	9	−7	−5
Total stockholders equity	1,257	1,150	1,054	938	877
Total liabilities and stockholders equity	1,686	1,575	1,597	1,625	1,199

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	46	48	55	52	49
Stock compensation expense	18	17	16	13	11
Deferred income taxes	6	−7	−11	−8	−6
(Recovery of) provision for credit losses	−97,000	299,000	37,000	401,000	180,000
Unrealized gain on foreign currency transactions and deferred compensation	−680,000	−100,000	−733,000	914,000	−384,000
Asset impairment charge and (gain) loss on disposal of assets	−58,000	2	7	366,000	−53,000
Change in fair value of contingent consideration liability	0	−91,000	−11	0	0
Accounts receivable	−21	6	7	−4	−21
Inventories	4	−23	11	−8	−21
Prepaid expenses and other current assets	−1	225,000	−4	2	−881,000
Accounts payable and accrued expenses	11	9	4	−16	47
Income taxes	−1	−583,000	2	296,000	5
Other	865,000	2	305,000	−423,000	2
Net cash provided by operating activities	217	182	184	139	161
Capital expenditures and intangible assets acquired	−43	−36	−38	−50	−37
Cash paid for acquisitions, net of cash acquired	−323,000	−24	−1	−366	0
Proceeds from sale of assets	274,000	359,000	2	206,000	318,000
Proceeds from settlement of net investment hedge	0	0	3	0	0
Investment in affiliates	−353,000	−270,000	−290,000	−495,000	−86,000
Net cash used in investing activities	−44	−60	−35	−416	−35
Proceeds from revolving loan	88	26	18	435	5
Principal payments on revolving debt	−114	−146	−149	−103	−60
Principal payments on finance lease	−194,000	−216,000	−222,000	−177,000	−159,000
Proceeds from stock options exercised	9	17	5	3	7
Dividends paid	−28	−26	−23	−21	−19
Repurchases of common stock	−108	−6	−4	−35	−35
Net cash used in financing activities	−153	−134	−153	247	−102
Effect of exchange rate changes on cash	5	−3	2	−6	−4
Increase (decrease) in cash and cash equivalents	25	−15	−2	−37	19

Filings

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