MINERALS TECHNOLOGIES INC MTX
Minerals Technologies Inc. (together with its subsidiaries, the "Company," "MTI," "we," "us" or "our") is a global, technology-driven specialty minerals company that develops, produces, and markets a wide range of minerals and mineral-based products and services. We are the world's largest producer of bentonite and a leading producer of calcium carbonate. Our products and minerals are an essential part of everyday life for millions of people around the world.
The Company's vertical integration extends from mine to market: we directly source minerals from our globally distributed reserves, transform them at our plants through proprietary technologies and applications into fit-for-purpose products, and market these products to customers across a range of industries. This process is driven by our world-class manufacturing, R&D capabilities, efficient approach to new product development, and company-wide focus on innovation and Operational Excellence.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.07B | $2.12B | $2.17B | $2.13B | $1.86B | $1.59B | $1.79B | $1.81B | $1.68B | $1.64B |
| Cost of revenue | $1.55B | $1.57B | $1.66B | $1.66B | $1.41B | $1.19B | $1.35B | $1.35B | $1.21B | $1.18B |
| Gross profit | $518.0M | $547.7M | $507.1M | $465.0M | $446.5M | $405.4M | $440.6M | $461.4M | $467.2M | $460.4M |
| R&D | $22.9M | $23.0M | $21.2M | $20.4M | $19.5M | $19.9M | $20.3M | $22.7M | $23.7M | $23.8M |
| SG&A | $208.0M | $209.2M | $206.0M | $192.1M | $186.2M | $176.5M | $187.5M | $178.6M | $180.7M | $176.4M |
| Operating income | $47.4M | $286.5M | $171.8M | $214.8M | $235.7M | $187.9M | $208.7M | $255.9M | $244.4M | $223.9M |
| Interest expense | — | — | $59.2M | $43.9M | $37.2M | $38.2M | $43.2M | $45.9M | $43.4M | $54.4M |
| Pre-tax income | -$14.0M | $223.6M | $107.7M | $156.7M | $202.3M | $138.0M | $157.3M | $204.1M | $190.9M | $170.3M |
| Income tax | $4.9M | $59.4M | $23.7M | $32.1M | $36.6M | $24.4M | $22.8M | $34.4M | $6.6M | $35.3M |
| Net income | -$18.4M | $167.1M | $84.1M | $122.2M | $164.4M | $112.4M | $132.7M | $169.0M | $195.1M | $133.4M |
| EPS, basic | -0.59 | 5.21 | 2.59 | 3.74 | 4.89 | 3.29 | 3.79 | 4.79 | 5.54 | 3.82 |
| EPS, diluted | -0.59 | 5.17 | 2.58 | 3.73 | 4.86 | 3.29 | 3.78 | 4.75 | 5.48 | 3.79 |
| Shares, diluted (wtd. avg.) | $31.4M | $32.3M | $32.6M | $32.8M | $33.8M | $34.2M | $35.1M | $35.6M | $35.6M | $35.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $329.0M | $333.1M | $317.2M | $247.2M | $299.5M | $367.7M | $241.6M | $208.8M | $212.2M | $188.5M |
| Short-term investments | $3.6M | $4.0M | $4.3M | $5.6M | $4.9M | $4.1M | $1.6M | $3.8M | $2.7M | $2.0M |
| Receivables | $400.1M | $385.2M | $399.1M | $404.0M | $367.8M | $369.0M | $376.2M | $387.3M | $383.0M | $341.3M |
| Inventory | $350.2M | $342.1M | $325.4M | $348.8M | $297.7M | $248.2M | $253.3M | $239.2M | $219.3M | $186.9M |
| Total current assets | $1.16B | $1.13B | $1.10B | $1.07B | $1.03B | $1.03B | $919.2M | $876.3M | $852.2M | $751.1M |
| Property, plant and equipment | $1.02B | $989.7M | $986.8M | $1.05B | $1.05B | $1.04B | $1.05B | $1.10B | $1.06B | $1.05B |
| Goodwill | $915.9M | $913.8M | $913.6M | $914.8M | $907.5M | $808.5M | $807.4M | $812.4M | $779.3M | $778.7M |
| Other intangibles | $208.7M | $218.1M | $231.0M | $241.9M | $251.6M | $195.8M | $203.0M | $214.1M | $196.5M | $204.4M |
| Total assets | $3.47B | $3.39B | $3.35B | $3.40B | $3.37B | $3.21B | $3.11B | $3.09B | $2.97B | $2.86B |
| Accounts payable | $187.9M | $185.5M | $188.7M | $193.8M | $196.1M | $148.3M | $163.4M | $169.1M | $179.0M | $144.9M |
| Short-term debt | $6.3M | $6.5M | $18.0M | $14.5M | $800.0K | $1.0M | $2.1M | $3.3M | $3.8M | $6.8M |
| Total current liabilities | $555.4M | $397.7M | $457.3M | $502.6M | $419.8M | $295.8M | $398.5M | $381.9M | $310.0M | $295.5M |
| Long-term debt | $955.0M | $959.6M | $911.1M | $928.1M | $936.2M | $933.2M | $824.3M | $907.8M | $959.8M | $1.07B |
| Total liabilities | $1.72B | $1.61B | $1.66B | $1.79B | $1.79B | $1.71B | $1.68B | $1.70B | $1.69B | $1.83B |
| Retained earnings | $2.48B | $2.51B | $2.36B | $2.28B | $2.17B | $2.01B | $1.91B | $1.77B | $1.61B | $1.42B |
| Total equity | $1.71B | $1.75B | $1.69B | $1.61B | $1.58B | $1.50B | $1.43B | $1.39B | $1.28B | $1.03B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $193.7M | $236.4M | $233.6M | $105.7M | $232.4M | $240.6M | $238.3M | $203.6M | $207.6M | $225.1M |
| Depreciation and amortisation | — | — | — | — | — | — | $98.4M | $94.3M | $91.0M | $91.9M |
| Stock-based compensation | $11.9M | $11.8M | $11.3M | $10.4M | $10.7M | $10.2M | $8.1M | $6.2M | $8.1M | $6.3M |
| Capital expenditure | $107.1M | $89.5M | $93.5M | $82.3M | $86.0M | $66.8M | $65.0M | $75.9M | $76.7M | $62.4M |
| Investing cash flow | -$122.8M | -$94.5M | -$91.7M | -$101.6M | -$278.6M | -$78.7M | -$62.0M | -$200.0M | -$77.5M | -$61.6M |
| Financing cash flow | -$89.3M | -$110.4M | -$71.7M | -$34.1M | $5.6M | -$43.0M | -$143.3M | $4.2M | -$118.2M | -$194.8M |
| Dividends paid | $14.2M | $13.2M | $8.1M | $6.5M | $6.8M | $6.8M | $7.0M | $7.1M | $7.0M | $7.0M |
| Buybacks | $58.5M | $63.6M | $14.2M | $56.0M | $74.7M | $40.7M | $41.0M | $21.7M | $700.0K | $2.6M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000891014-26-000067.
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