Minerals Tech Financials
This page shows Minerals Tech (MTX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 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).
Minerals Technologies’ FY2025 was a below-the-gross-line earnings squeeze: gross economics held up, but reported profit detached from cash generation.
The unusual part of FY2025 is that sales were nearly flat while gross margin only slipped from25.9% to25.0% , which means core product economics stayed close to FY2024. The accounting picture broke lower anyway, with operating cash flow of$193.7M alongside net income of-$18.4M , pointing to a hit below gross profit rather than a broad deterioration in day-to-day demand.
Cash conversion stayed better than earnings: operating cash flow was
Liquidity narrowed but did not vanish: the current ratio fell from 2.8x to 2.1x as current liabilities rose, so short-term flexibility was thinner than in FY2024. Leverage itself barely moved, with cash at
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Minerals Tech'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.
Minerals Tech has an operating margin of 2.3%, meaning the company retains $2 of operating profit per $100 of revenue. This results in a moderate score of 59/100, indicating healthy but not exceptional operating efficiency. This is down from 13.5% the prior year.
Minerals Tech's revenue declined 2.2% year-over-year, from $2.1B to $2.1B. This contraction results in a growth score of 24/100.
Minerals Tech has a moderate D/E ratio of 0.56. This balance of debt and equity financing earns a leverage score of 58/100.
Minerals Tech's current ratio of 2.08 indicates adequate short-term liquidity, earning a score of 59/100. The company can meet its near-term obligations, though with limited headroom.
Minerals Tech has a free cash flow margin of 4.2%, earning a moderate score of 50/100. The company generates positive cash flow after capital investments, but with room for improvement.
Minerals Tech's ROE of -1.1% shows moderate profitability relative to equity, earning a score of 53/100. This is down from 9.6% the prior year.
Minerals Tech scores 2.63, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Minerals Tech passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Minerals Tech generates $-10.53 in operating cash flow ($193.7M OCF vs -$18.4M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Key Financial Metrics
Earnings & Revenue
Minerals Tech generated $2.1B in revenue in fiscal year 2025. This represents a decrease of 2.2% from the prior year.
Minerals Tech reported -$18.4M in net income in fiscal year 2025. This represents a decrease of 111.0% from the prior year.
Minerals Tech earned $-0.59 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 111.4% from the prior year.
Cash & Balance Sheet
Minerals Tech generated $86.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 41.0% from the prior year.
Minerals Tech held $329.0M in cash against $955.0M in long-term debt as of fiscal year 2025.
Minerals Tech paid $0.45 per share in dividends in fiscal year 2025. This represents an increase of 9.8% from the prior year.
Minerals Tech had 31M shares outstanding in fiscal year 2025. This represents a decrease of 2.7% from the prior year.
Margins & Returns
Minerals Tech's gross margin was 25.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.9 percentage points from the prior year.
Minerals Tech's operating margin was 2.3% in fiscal year 2025, reflecting core business profitability. This is down 11.2 percentage points from the prior year.
Minerals Tech's net profit margin was -0.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 8.8 percentage points from the prior year.
Minerals Tech's ROE was -1.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 10.6 percentage points from the prior year.
Capital Allocation
Minerals Tech invested $22.9M in research and development in fiscal year 2025. This represents a decrease of 0.4% from the prior year.
Minerals Tech spent $58.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 8.0% from the prior year.
Minerals Tech invested $107.1M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 19.7% from the prior year.
MTX Income Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $546.9M+5.3% | $519.5M-2.4% | $532.4M+0.7% | $528.9M+7.5% | $491.8M-5.1% | $518.1M-1.3% | $524.7M-3.0% | $541.2M |
| Cost of Revenue | $415.8M+5.3% | $395.0M-0.1% | $395.4M+0.9% | $392.0M+5.3% | $372.2M-3.4% | $385.4M-1.1% | $389.5M-2.0% | $397.3M |
| Gross Profit | $131.1M+5.3% | $124.5M-9.1% | $137.0M+0.1% | $136.9M+14.5% | $119.6M-9.9% | $132.7M-1.8% | $135.2M-6.0% | $143.9M |
| R&D Expenses | $6.1M+5.2% | $5.8M+3.6% | $5.6M-1.8% | $5.7M-1.7% | $5.8M+1.8% | $5.7M-3.4% | $5.9M+1.7% | $5.8M |
| SG&A Expenses | $57.5M+10.2% | $52.2M-1.5% | $53.0M+1.5% | $52.2M+3.2% | $50.6M-4.2% | $52.8M+5.4% | $50.1M-6.0% | $53.3M |
| Operating Income | $58.7M-5.3% | $62.0M-12.6% | $70.9M-5.0% | $74.6M+146.6% | -$160.1M-290.4% | $84.1M+9.8% | $76.6M+51.4% | $50.6M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $9.9M+3.1% | $9.6M-28.9% | $13.5M-2.9% | $13.9M+143.3% | -$32.1M-298.1% | $16.2M+18.2% | $13.7M-12.2% | $15.6M |
| Net Income | $36.2M-2.7% | $37.2M-13.5% | $43.0M-5.3% | $45.4M+131.5% | -$144.0M-366.7% | $54.0M+15.6% | $46.7M+137.1% | $19.7M |
| EPS (Diluted) | $1.17 | N/A | $1.37-4.9% | $1.44+131.9% | $-4.51 | N/A | $1.45+137.7% | $0.61 |
MTX Balance Sheet
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.5B-0.1% | $3.5B+0.3% | $3.5B+0.1% | $3.5B+1.6% | $3.4B+0.2% | $3.4B0.0% | $3.4B+1.4% | $3.3B |
| Current Assets | $1.2B0.0% | $1.2B-1.5% | $1.2B0.0% | $1.2B+3.2% | $1.1B+0.5% | $1.1B-0.9% | $1.1B+2.4% | $1.1B |
| Cash & Equivalents | $315.9M-4.0% | $329.0M+2.9% | $319.6M+1.8% | $313.8M+2.3% | $306.6M-8.0% | $333.1M+5.0% | $317.1M+2.1% | $310.6M |
| Inventory | $357.9M+2.2% | $350.2M-3.7% | $363.7M+1.1% | $359.6M+2.0% | $352.5M+3.0% | $342.1M0.0% | $342.2M+2.8% | $333.0M |
| Accounts Receivable | $412.7M+3.1% | $400.1M-3.2% | $413.4M-2.9% | $425.9M+4.9% | $405.9M+5.4% | $385.2M-6.6% | $412.5M+1.8% | $405.1M |
| Goodwill | $915.6M0.0% | $915.9M0.0% | $916.2M0.0% | $915.9M+0.1% | $914.6M+0.1% | $913.8M-0.1% | $914.3M+0.2% | $912.8M |
| Total Liabilities | $1.7B-0.9% | $1.7B-1.7% | $1.7B-1.0% | $1.8B0.0% | $1.8B+9.7% | $1.6B-2.3% | $1.6B0.0% | $1.6B |
| Current Liabilities | $543.4M-2.2% | $555.4M-6.1% | $591.5M-1.9% | $602.8M+0.5% | $599.9M+50.8% | $397.7M-14.3% | $464.0M+2.3% | $453.6M |
| Long-Term Debt | $954.0M-0.1% | $955.0M-0.3% | $957.8M-0.1% | $959.0M-0.1% | $960.1M+0.1% | $959.6M+7.3% | $894.7M-0.3% | $897.7M |
| Total Equity | $1.7B+0.9% | $1.7B+2.3% | $1.7B+1.3% | $1.7B+3.5% | $1.6B-8.5% | $1.7B+2.4% | $1.7B+2.6% | $1.7B |
| Retained Earnings | $2.5B+1.3% | $2.5B+1.4% | $2.4B+1.6% | $2.4B+1.8% | $2.4B-5.9% | $2.5B+2.0% | $2.5B+1.8% | $2.4B |
MTX Cash Flow Statement
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $32.1M-50.1% | $64.3M-9.3% | $70.9M+12.7% | $62.9M+1529.5% | -$4.4M-106.3% | $70.4M+17.3% | $60.0M+19.8% | $50.1M |
| Capital Expenditures | $23.1M-28.7% | $32.4M+18.7% | $27.3M-6.2% | $29.1M+59.0% | $18.3M-34.9% | $28.1M+13.8% | $24.7M+22.3% | $20.2M |
| Free Cash Flow | $9.0M-71.8% | $31.9M-26.8% | $43.6M+29.0% | $33.8M+248.9% | -$22.7M-153.7% | $42.3M+19.8% | $35.3M+18.1% | $29.9M |
| Investing Cash Flow | -$29.4M-6.9% | -$27.5M+26.9% | -$37.6M-4.7% | -$35.9M-64.7% | -$21.8M-29.0% | -$16.9M+46.9% | -$31.8M-8.9% | -$29.2M |
| Financing Cash Flow | -$11.1M+62.2% | -$29.4M-12.2% | -$26.2M+12.1% | -$29.8M-664.1% | -$3.9M+81.3% | -$20.8M+40.2% | -$34.8M-52.6% | -$22.8M |
| Dividends Paid | $3.7M-2.6% | $3.8M+11.8% | $3.4M0.0% | $3.4M-5.6% | $3.6M+2.9% | $3.5M+9.4% | $3.2M-3.0% | $3.3M |
| Share Buybacks | $5.4M-50.9% | $11.0M-35.3% | $17.0M-10.5% | $19.0M+65.2% | $11.5M+85.5% | $6.2M-72.8% | $22.8M+16.3% | $19.6M |
MTX Financial Ratios
| Metric | Q2'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 24.0%0.0pp | 24.0%-1.8pp | 25.7%-0.2pp | 25.9%+1.6pp | 24.3%-1.3pp | 25.6%-0.2pp | 25.8%-0.8pp | 26.6% |
| Operating Margin | 10.7%-1.2pp | 11.9%-1.4pp | 13.3%-0.8pp | 14.1%+46.7pp | -32.6%-48.8pp | 16.2%+1.6pp | 14.6%+5.2pp | 9.3% |
| Net Margin | 6.6%-0.5pp | 7.2%-0.9pp | 8.1%-0.5pp | 8.6%+37.9pp | -29.3%-39.7pp | 10.4%+1.5pp | 8.9%+5.3pp | 3.6% |
| Return on Equity | 2.1%-0.1pp | 2.2%-0.4pp | 2.6%-0.2pp | 2.7%+11.8pp | -9.0%-12.1pp | 3.1%+0.3pp | 2.7%+1.6pp | 1.2% |
| Return on Assets | 1.0%-0.0pp | 1.1%-0.2pp | 1.2%-0.1pp | 1.3%+5.5pp | -4.2%-5.8pp | 1.6%+0.2pp | 1.4%+0.8pp | 0.6% |
| Current Ratio | 2.13+0.0 | 2.08+0.1 | 1.98+0.0 | 1.95+0.1 | 1.89-0.9 | 2.84+0.4 | 2.460.0 | 2.46 |
| Debt-to-Equity | 0.550.0 | 0.56-0.0 | 0.570.0 | 0.58-0.0 | 0.60+0.1 | 0.55+0.0 | 0.52-0.0 | 0.54 |
| FCF Margin | 1.7%-4.5pp | 6.1%-2.0pp | 8.2%+1.8pp | 6.4%+11.0pp | -4.6%-12.8pp | 8.2%+1.4pp | 6.7%+1.2pp | 5.5% |
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Frequently Asked Questions
What is Minerals Tech's annual revenue?
Minerals Tech (MTX) reported $2.1B in total revenue for fiscal year 2025. This represents a -2.2% 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 Minerals Tech's revenue growing?
Minerals Tech (MTX) revenue declined by 2.2% year-over-year, from $2.1B to $2.1B in fiscal year 2025.
Is Minerals Tech profitable?
No, Minerals Tech (MTX) reported a net income of -$18.4M in fiscal year 2025, with a net profit margin of -0.9%.
How much debt does Minerals Tech have?
As of fiscal year 2025, Minerals Tech (MTX) had $329.0M in cash and equivalents against $955.0M in long-term debt.
What is Minerals Tech's gross margin?
Minerals Tech (MTX) had a gross margin of 25.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Minerals Tech's operating margin?
Minerals Tech (MTX) had an operating margin of 2.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Minerals Tech's net profit margin?
Minerals Tech (MTX) had a net profit margin of -0.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Minerals Tech pay dividends?
Yes, Minerals Tech (MTX) paid $0.45 per share in dividends during fiscal year 2025.
What is Minerals Tech's return on equity (ROE)?
Minerals Tech (MTX) has a return on equity of -1.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Minerals Tech's free cash flow?
Minerals Tech (MTX) generated $86.6M in free cash flow during fiscal year 2025. This represents a -41.0% 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 Minerals Tech's operating cash flow?
Minerals Tech (MTX) generated $193.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Minerals Tech's total assets?
Minerals Tech (MTX) had $3.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Minerals Tech's capital expenditures?
Minerals Tech (MTX) invested $107.1M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Minerals Tech spend on research and development?
Minerals Tech (MTX) invested $22.9M in research and development during fiscal year 2025.
What is Minerals Tech's current ratio?
Minerals Tech (MTX) had a current ratio of 2.08 as of fiscal year 2025, which is generally considered healthy.
What is Minerals Tech's debt-to-equity ratio?
Minerals Tech (MTX) had a debt-to-equity ratio of 0.56 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Minerals Tech's return on assets (ROA)?
Minerals Tech (MTX) had a return on assets of -0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Minerals Tech's Altman Z-Score?
Minerals Tech (MTX) has an Altman Z-Score of 2.63, 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 Minerals Tech's Piotroski F-Score?
Minerals Tech (MTX) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Minerals Tech's earnings high quality?
Minerals Tech (MTX) has an earnings quality ratio of -10.53x, considered mixed 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.
How financially healthy is Minerals Tech?
Minerals Tech (MTX) scores 51 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.