LSB Industries Financials
This page shows LSB Industries (LXU) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
LSB’s volatile gross margin drives earnings swings, while a depreciation-heavy, capital-intensive asset base keeps cash generation steadier.
The business behaves more like a plant-heavy cash engine than its earnings line suggests: in both FY2024 and FY2025, operating cash flow stayed above$85M even as net income moved from-$19.4M to$24.6M . That gap matters because recurring depreciation supports cash conversion, but capex still absorbed most of FY2025 cash generation, leaving only$18.1M of free cash flow.
FY2025’s rebound was mainly a margin recovery, not a bigger overhead build: gross margin rose to
Since FY2022, interest expense fell to
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of LSB Industries's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
LSB Industries has an operating margin of 9.3%, meaning the company retains $9 of operating profit per $100 of revenue. This results in a moderate score of 36/100, indicating healthy but not exceptional operating efficiency. This is up from -1.1% the prior year.
LSB Industries's revenue surged 17.8% year-over-year to $615.2M, reflecting rapid business expansion. This strong growth earns a score of 36/100.
LSB Industries carries a low D/E ratio of 0.85, meaning only $0.85 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.
LSB Industries's current ratio of 2.78 indicates adequate short-term liquidity, earning a score of 53/100. The company can meet its near-term obligations, though with limited headroom.
While LSB Industries generated $95.5M in operating cash flow, capex of $77.5M consumed most of it, leaving $18.1M in free cash flow. This results in a low score of 34/100, reflecting heavy capital investment rather than weak cash generation.
LSB Industries generates a 4.7% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 16/100. This is up from -3.9% the prior year.
LSB Industries scores 2.00, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
LSB Industries passes 8 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, LSB Industries generates $3.88 in operating cash flow ($95.5M OCF vs $24.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
LSB Industries earns $1.9 in operating income for every $1 of interest expense ($57.3M vs $30.7M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
LSB Industries generated $615.2M in revenue in fiscal year 2025. This represents an increase of 17.8% from the prior year.
LSB Industries's EBITDA was $139.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 101.8% from the prior year.
LSB Industries reported $24.6M in net income in fiscal year 2025. This represents an increase of 227.2% from the prior year.
LSB Industries earned $0.34 per diluted share (EPS) in fiscal year 2025. This represents an increase of 225.9% from the prior year.
Cash & Balance Sheet
LSB Industries generated $18.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 415.9% from the prior year.
LSB Industries held $19.5M in cash against $440.3M in long-term debt as of fiscal year 2025.
Margins & Returns
LSB Industries's gross margin was 17.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 7.8 percentage points from the prior year.
LSB Industries's operating margin was 9.3% in fiscal year 2025, reflecting core business profitability. This is up 10.4 percentage points from the prior year.
LSB Industries's net profit margin was 4.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 7.7 percentage points from the prior year.
LSB Industries's ROE was 4.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 8.7 percentage points from the prior year.
Capital Allocation
LSB Industries invested $77.5M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 16.1% from the prior year.
LXU Income Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $169.5M+2.7% | $165.0M+6.2% | $155.4M+2.7% | $151.3M+5.5% | $143.4M+6.3% | $134.9M+23.5% | $109.2M-22.0% | $140.1M |
| Cost of Revenue | $133.7M+8.0% | $123.8M-4.7% | $129.9M+1.4% | $128.1M-0.7% | $129.0M+0.1% | $128.9M+10.0% | $117.2M+4.0% | $112.7M |
| Gross Profit | $35.8M-13.1% | $41.2M+61.3% | $25.5M+10.2% | $23.2M+61.1% | $14.4M+137.8% | $6.0M+176.1% | -$7.9M-129.0% | $27.4M |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $13.8M+23.7% | $11.2M+8.2% | $10.3M+5.0% | $9.8M-3.0% | $10.2M+2.7% | $9.9M-1.6% | $10.0M-13.0% | $11.5M |
| Operating Income | $23.2M-13.2% | $26.7M+70.7% | $15.6M+48.9% | $10.5M+134.8% | $4.5M+166.2% | -$6.7M+72.4% | -$24.4M-269.6% | $14.4M |
| Interest Expense | $7.1M-3.1% | $7.3M-0.3% | $7.4M-6.6% | $7.9M-2.2% | $8.1M-1.9% | $8.2M+1.3% | $8.1M-3.2% | $8.4M |
| Income Tax | -$2.1M-146.3% | $4.6M+81.3% | $2.5M+133.9% | $1.1M+483.0% | -$283K+93.0% | -$4.1M+9.5% | -$4.5M-458.6% | $1.3M |
| Net Income | $19.7M+22.0% | $16.1M+126.7% | $7.1M+136.7% | $3.0M+283.3% | -$1.6M+82.1% | -$9.1M+64.0% | -$25.4M-365.6% | $9.6M |
| EPS (Diluted) | $0.27 | N/A | $0.10+150.0% | $0.04+300.0% | $-0.02 | N/A | $-0.35-369.2% | $0.13 |
LXU Balance Sheet
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+1.5% | $1.2B+2.1% | $1.1B+1.9% | $1.1B-4.1% | $1.2B-0.9% | $1.2B+0.4% | $1.2B-0.5% | $1.2B |
| Current Assets | $321.3M+9.5% | $293.3M+8.4% | $270.6M+6.0% | $255.2M-14.7% | $299.3M-3.4% | $309.7M-1.4% | $314.2M-5.4% | $332.0M |
| Cash & Equivalents | $20.6M+5.8% | $19.5M-30.2% | $28.0M+397.9% | $5.6M-62.6% | $15.0M-25.7% | $20.2M-52.2% | $42.3M-80.4% | $216.3M |
| Inventory | $23.2M+26.9% | $18.3M-7.5% | $19.8M-19.0% | $24.4M-4.1% | $25.5M+2.4% | $24.9M+16.4% | $21.4M+0.5% | $21.3M |
| Accounts Receivable | $52.5M-8.2% | $57.2M+22.6% | $46.6M-9.1% | $51.3M-1.1% | $51.9M+33.8% | $38.8M-12.5% | $44.3M+5.6% | $41.9M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $648.4M-0.8% | $653.6M+1.3% | $644.9M+2.0% | $632.3M-7.7% | $685.4M-1.5% | $695.5M+1.7% | $684.0M+2.7% | $666.3M |
| Current Liabilities | $104.6M-0.9% | $105.5M+10.7% | $95.3M-1.3% | $96.5M-19.2% | $119.5M-11.9% | $135.6M+9.1% | $124.3M+27.8% | $97.3M |
| Long-Term Debt | $440.4M0.0% | $440.3M-1.6% | $447.6M+0.3% | $446.4M-6.7% | $478.2M+0.4% | $476.2M0.0% | $476.0M-0.8% | $479.8M |
| Total Equity | $542.9M+4.4% | $520.0M+3.0% | $504.6M+1.8% | $495.8M+1.1% | $490.6M-0.2% | $491.6M-1.5% | $499.0M-4.6% | $522.8M |
| Retained Earnings | $252.0M+8.5% | $232.3M+7.5% | $216.1M+3.4% | $209.0M+1.5% | $206.0M-0.8% | $207.7M-4.2% | $216.8M-10.5% | $242.2M |
LXU Cash Flow Statement
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $51.8M+188.6% | $17.9M-65.9% | $52.6M+189.4% | $18.2M+165.7% | $6.8M+71.9% | $4.0M-76.8% | $17.1M-58.7% | $41.4M |
| Capital Expenditures | $17.0M-19.7% | $21.1M+24.5% | $17.0M-8.1% | $18.5M-11.4% | $20.9M-26.0% | $28.2M-9.1% | $31.0M+110.3% | $14.8M |
| Free Cash Flow | $34.8M+1191.9% | -$3.2M-109.0% | $35.6M+11400.3% | -$315K+97.8% | -$14.0M+42.1% | -$24.2M-74.0% | -$13.9M-152.3% | $26.6M |
| Investing Cash Flow | -$45.5M-79.0% | -$25.4M-16.7% | -$21.8M-315.6% | $10.1M+291.6% | -$5.3M+84.8% | -$34.7M+81.5% | -$187.2M-254.8% | $120.9M |
| Financing Cash Flow | -$5.2M-433.1% | -$973K+88.5% | -$8.5M+77.5% | -$37.7M-457.0% | -$6.8M-178.0% | $8.7M+317.0% | -$4.0M+94.6% | -$74.5M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LXU Financial Ratios
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.1%-3.8pp | 25.0%+8.5pp | 16.4%+1.1pp | 15.3%+5.3pp | 10.0%+5.5pp | 4.5%+11.8pp | -7.3%-26.8pp | 19.6% |
| Operating Margin | 13.7%-2.5pp | 16.2%+6.1pp | 10.1%+3.1pp | 6.9%+3.8pp | 3.1%+8.1pp | -5.0%+17.4pp | -22.4%-32.6pp | 10.3% |
| Net Margin | 11.6%+1.8pp | 9.8%+5.2pp | 4.6%+2.6pp | 2.0%+3.1pp | -1.1%+5.6pp | -6.8%+16.5pp | -23.2%-30.1pp | 6.8% |
| Return on Equity | 3.6%+0.5pp | 3.1%+1.7pp | 1.4%+0.8pp | 0.6%+0.9pp | -0.3%+1.5pp | -1.9%+3.2pp | -5.1%-6.9pp | 1.8% |
| Return on Assets | 1.7%+0.3pp | 1.4%+0.8pp | 0.6%+0.3pp | 0.3%+0.4pp | -0.1%+0.6pp | -0.8%+1.4pp | -2.1%-2.9pp | 0.8% |
| Current Ratio | 3.07+0.3 | 2.78-0.1 | 2.84+0.2 | 2.64+0.1 | 2.51+0.2 | 2.28-0.2 | 2.53-0.9 | 3.41 |
| Debt-to-Equity | 0.81-0.0 | 0.85-0.0 | 0.89-0.0 | 0.90-0.1 | 0.970.0 | 0.97+0.0 | 0.95+0.0 | 0.92 |
| FCF Margin | 20.5%+22.5pp | -1.9%-24.8pp | 22.9%+23.1pp | -0.2%+9.6pp | -9.8%+8.2pp | -18.0%-5.2pp | -12.8%-31.8pp | 19.0% |
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Frequently Asked Questions
What is LSB Industries's annual revenue?
LSB Industries (LXU) reported $615.2M in total revenue for fiscal year 2025. This represents a 17.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is LSB Industries's revenue growing?
LSB Industries (LXU) revenue grew by 17.8% year-over-year, from $522.4M to $615.2M in fiscal year 2025.
Is LSB Industries profitable?
Yes, LSB Industries (LXU) reported a net income of $24.6M in fiscal year 2025, with a net profit margin of 4.0%.
What is LSB Industries's EBITDA?
LSB Industries (LXU) had EBITDA of $139.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does LSB Industries have?
As of fiscal year 2025, LSB Industries (LXU) had $19.5M in cash and equivalents against $440.3M in long-term debt.
What is LSB Industries's gross margin?
LSB Industries (LXU) had a gross margin of 17.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is LSB Industries's operating margin?
LSB Industries (LXU) had an operating margin of 9.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is LSB Industries's net profit margin?
LSB Industries (LXU) had a net profit margin of 4.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is LSB Industries's return on equity (ROE)?
LSB Industries (LXU) has a return on equity of 4.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is LSB Industries's free cash flow?
LSB Industries (LXU) generated $18.1M in free cash flow during fiscal year 2025. This represents a 415.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is LSB Industries's operating cash flow?
LSB Industries (LXU) generated $95.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are LSB Industries's total assets?
LSB Industries (LXU) had $1.2B in total assets as of fiscal year 2025, including both current and long-term assets.
What are LSB Industries's capital expenditures?
LSB Industries (LXU) invested $77.5M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is LSB Industries's current ratio?
LSB Industries (LXU) had a current ratio of 2.78 as of fiscal year 2025, which is generally considered healthy.
What is LSB Industries's debt-to-equity ratio?
LSB Industries (LXU) had a debt-to-equity ratio of 0.85 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is LSB Industries's return on assets (ROA)?
LSB Industries (LXU) had a return on assets of 2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is LSB Industries's Altman Z-Score?
LSB Industries (LXU) has an Altman Z-Score of 2.00, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is LSB Industries's Piotroski F-Score?
LSB Industries (LXU) has a Piotroski F-Score of 8 out of 9, indicating strong financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are LSB Industries's earnings high quality?
LSB Industries (LXU) has an earnings quality ratio of 3.88x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can LSB Industries cover its interest payments?
LSB Industries (LXU) has an interest coverage ratio of 1.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is LSB Industries?
LSB Industries (LXU) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.