METHANEX CORP financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data METHANEX CORP files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,998	3,061	4,483	3,284	2,650	4,415	4,311	3,723	3,720	3,589
Cost of revenue	1,534	2,036	3,128	2,571	2,108	3,112	3,238	2,798	2,678	2,308
Gross profit	465	1,025	1,354	713	542	1,303	1,073	926	1,042	1,281
General and administrative	59.7	99	60.4	74.5	107	68.1	81.7	109	134	117
Operating income	28.4	476	830	189	-52.5	712	611	264	362	431
Interest expense	90.1	95	94.4	124	165	144	131	117	133	220
Interest income	4.18	13.4	4.27	3.6	0.28	1.04	25.3	39.9	12.4	25.7
Pre-tax income	-37.5	471	811	121	-187	666	582	286	280	203
Income tax	-9.28	95.8	153	4.47	-62.1	110	120	1.49	29.8	58.4
Net income to minority interests	-15.7	59	89	28.6	31.4	73.6	108	110	86.3	64.9
Net income	-28.2	375	658	116	-125	556	462	284	250	145
EBITDA	257	709	1,075	534	305	1,075	983	655	748	877
EPS, basic	-0.14	3.64	7.07	1.15	-2.06	6.34	4.95	2.57	2.43	1.10
EPS, diluted	-0.14	3.64	6.92	1.01	-2.06	6.13	4.86	2.57	2.39	0.93

Balance sheet

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	224	375	256	417	834	932	858	458	892	425
Receivables	500	537	515	489	412	551	501	534	473	463
Inventory	281	304	388	281	309	460	440	427	453	495
Total current assets	1,026	1,243	1,252	1,233	1,595	1,989	1,876	1,480	1,911	1,487
Property, plant and equipment	3,117	2,998	2,857	2,941	3,052	3,075	3,399	3,654	3,502	4,575
Lease right-of-use assets			168	635	625	611	756	757	696	623
Total assets	4,557	4,611	4,609	5,197	5,696	6,090	6,631	6,427	6,597	7,283
Accounts payable	523	627	617	494	601	836	789	772	546	542
Total current liabilities	607	748	1,047	648	765	963	943	1,302	730	722
Lease liabilities			191	629	625	619	761	751	695	642
Total liabilities	2,751	2,866	2,801	3,566	4,255	4,135	4,202	4,254	4,216	4,556
Total debt	1,556	1,502	1,458	1,769	2,363	2,158	2,152	2,142	2,415	2,753
Retained earnings	1,124	1,088	1,145	1,040	844	1,252	1,467	1,514	1,629	1,653
Shareholders' equity	1,597	1,501	1,511	1,332	1,149	1,684	2,112	1,931	2,094	2,443
Minority interests	209	244	297	299	292	271	317	242	288	283
Total equity	1,805	1,745	1,808	1,630	1,441	1,955	2,429	2,173	2,381	2,727
Total liabilities and equity	4,557	4,611	4,609	5,197	5,696	6,090	6,631	6,427	6,597	7,283

Cash flow statement

	FY2017	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-28.2	375	658	116	-125	556	462	284	250	145
Depreciation and amortization	228	232	245	344	357	363	372	392	386	446
Cash from operations	227	780	980	515	461	994	987	660	737	1,016
Capital expenditures	-99.9	-103	-191	-208	-129	-103	-146	-178	-101	-99
Cash from investing	-88.2	-106	-306	-251	-278	-253	-553	-509	-99.7	-1,356
Debt issued	65.7	0	0	696	865	0		0	585	546
Debt repaid	-48.4	-57	-214	-388	-296	-62.4	-9.15	-12.3	-322	-216
Share buybacks	0	-286	-444	-52.8	0	-62.9	-253	-86.4	0
Dividends paid	-98.8	-101	-106	-108	-36	-24.6	-44	-49.4	-49.9	-53.6
Cash from financing	-170	-523	-793	-104	234	-643	-509	-551	-204	-126
Net change in cash	-31	152	-119	161	417	98.2	-74.3	-400	434	-467
Free cash flow	127	677	790	307	332	891	842	482	636	917
Income taxes paid	5.24	35.9	106	43.9	2.87	57.9	164	81.9	52.5	81

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $58.86 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	35.7%	Gross profit / revenue.
Operating margin	12.0%	Operating income / revenue.
EBITDA margin	24.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	5.7%	Pre-tax income / revenue.
Net margin	4.0%	Net income / revenue.
FCF margin	25.5%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	28.3%	Cash from operations / revenue.
Effective tax rate	28.8%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	6.4%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	2.1%	Net income / average total assets.
Return on invested capital (ROIC)	7.3%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Capex / revenue	2.8%	Capital expenditures / revenue.
D&A / revenue	12.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-3.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-5.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	23.0%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	6.1%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	18.7%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	19.1%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-11.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	17.3%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-3.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	23.5%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-42.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-32.1%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-61.1%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-42.4%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow growth, 1y	37.8%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	0.9%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	17.1%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	44.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	2.9%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	22.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	16.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	5.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	16.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	10.4%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.06x	Current assets / current liabilities.
Quick ratio	1.23x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.59x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.13x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	37.8%	Total debt / total assets.
Liabilities / assets	62.6%	Total liabilities / total assets.
Net debt	$2.33B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.65x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.96x	Operating income / interest expense.
Working capital	$765.2M	Current assets - current liabilities.
Tangible book value	$2.44B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.52x	Revenue / average total assets.
Fixed asset turnover	0.89x	Revenue / average property, plant and equipment.
Inventory turnover	4.87x	Cost of revenue / average inventory.
Days inventory	75 days	365 x average inventory / cost of revenue.
Receivables turnover	7.67x	Revenue / average receivables.
Days sales outstanding	48 days	365 x average receivables / revenue.
Days payables	86 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	37 days	Days inventory + days sales outstanding - days payables.
FCF conversion	633.0%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	9.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.93	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic	$1.10	Net income per basic share, as reported (split-adjusted).
Payout ratio	37.0%	Dividends paid / net income, when net income is positive.
Dividends / FCF	5.8%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$4.55B	Share price x shares outstanding.
Enterprise value	$6.88B	Market cap + total debt - cash - short-term investments.
P/E	31.4x	Market cap / net income. Only when net income is positive.
P/S	1.27x	Market cap / revenue.
P/B	1.86x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	1.86x	Market cap / tangible book value, when positive.
P/FCF	4.97x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	4.48x	Market cap / cash from operations, when positive.
EV/Sales	1.92x	Enterprise value / revenue.
EV/EBIT	16.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	7.85x	Enterprise value / EBITDA, when both are positive.
EV/FCF	7.51x	Enterprise value / free cash flow, when both are positive.
FCF yield	20.1%	Free cash flow / market cap.
Earnings yield	3.2%	Net income / market cap (the inverse of P/E).
Dividend yield	1.2%	Dividends paid over the period / market cap.
Shareholder yield	1.2%	(Dividends paid + share buybacks) / market cap.

What was METHANEX CORP's revenue in fiscal 2025?

METHANEX CORP reported revenue of $3.59B for fiscal 2025, 3.5% lower than the year before.

Was METHANEX CORP profitable in fiscal 2025?

Yes. Net income was $144.8M, a net margin of 4%.

How much free cash flow did METHANEX CORP generate in fiscal 2025?

Cash from operations of $1.02B minus capital expenditures of $99.0M left free cash flow of $916.6M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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