Short answer
BALCHEM CORP (BCPC) filed its fiscal 2025 10-K annual report with the SEC on Feb 20, 2026. It reported revenue of $1.0B (+8.8% year over year) and net income of $155M.
- Top risk flagged: Regulatory/legal risk: Tariff and trade changes under the USMCA impacting exports and requiring compliance with evolving export duties and quotas
FY2025 key financial metrics · XBRL
- Revenue
- $1.0B
- +8.8% YoY
- Net income
- $155M
- +20.5% YoY
- Operating margin
- 20.2%
- +1.0 pp YoY
- Gross margin
- 35.7%
- +0.5 pp YoY
- EPS (diluted)
- $4.75
- +20.9% YoY
- ROE
- 12.3%
- +1.1 pp YoY
- Operating cash flow
- $217M
- +19.0% YoY
Source: XBRL data from the BALCHEM CORP (BCPC) FY2025 10-K on SEC EDGAR. USD.
BALCHEM CORP FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Specialty chemicals and ingredients for health, nutrition, and performance markets
- 2026 emphasis on regulatory impact of EPA's EtO Interim Decision affecting sterilization products and applications
- Strategic focus on stakeholder engagement to influence EPA risk assessments and regulatory compliance measures
- Regulatory compliance costs expected to increase due to phased EtO use restrictions and monitoring requirements over next 10 years
- Potential operational disruptions from future EtO emission controls pose business risk, reflecting heightened regulatory scrutiny
Management Discussion & Analysis
- Revenue $1,037M, up 8.8% YoY; Human Nutrition & Health up $59.1M (9.9%), Animal Nutrition & Health up $16.1M (7.5%), Specialty Products up $8.2M (6.2%)
- Operating margin 20.2% vs 19.2%, earnings from operations $209.3M, up 14.4%; net earnings $154.8M, up 20.5%
- Best performing segment: Human Nutrition & Health earnings $153.9M, up 13.2%; worst: Animal Nutrition & Health earnings $18.7M, up 33.4% but lowest absolute profit
- Cash flow from operations $216.6M, capex $43.5M with $40-45M planned for 2026; share repurchases $107.6M, dividends paid $28.3M in 2025
- Management expects continued strong cash flow to fund growth and acquisitions; faces EU anti-dumping duties risk on choline chloride imports from China effective July 2025
Risk Factors
- Regulatory/legal risk: Tariff and trade changes under the USMCA impacting exports and requiring compliance with evolving export duties and quotas
- Geopolitical/macro risk: Supply chain disruption risk from Russia-Ukraine war and Middle East conflict causing material raw material access issues in Europe
- Operational risk: Manufacturing facility risks include equipment failure, power outages, and compliance with environmental directives impacting profitability
- Competition risk: Facing competition from larger firms with superior R&D and production resources affecting market share and product demand
- Financial risk: Interest rate exposure from variable rates on five-year senior secured revolving credit agreement, including volatility in SOFR reference rates
Generated from the filing text; verify against the original. How to read a 10-K
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