MINERALS TECHNOLOGIES INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data MINERALS TECHNOLOGIES INC 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	1,638	1,676	1,808	1,791	1,595	1,858	2,126	2,170	2,119	2,073
Cost of revenue	1,178	1,209	1,346	1,350	1,189	1,412	1,661	1,663	1,571	1,555
Gross profit	460	467	461	441	405	447	465	507	548	518
Research and development	23.8	23.7	22.7	20.3	19.9	19.5	20.4	21.2	23	22.9
Selling, general and administrative	176	181	179	188	177	186	192	206	209	208
Operating income	224	244	256	209	188	236	215	172	287	47.4
Interest expense	54.4	43.4	45.9	43.2	38.2	37.2	43.9	59.2
Other non-operating income	-53.6	-53.5	-51.8	-51.4	-49.9	-33.4	-58.1	-64.1	-62.9	-61.4
Pre-tax income	170	191	204	157	138	202	157	108	224	-14
Income tax	35.3	-6.6	34.4	22.8	24.4	36.6	32.1	23.7	59.4	4.9
Income from continuing operations	133
Net income to minority interests	3.7	3.9	4.2	3.7	3.4	4.1	4.1	4.2	3.8	4.4
Net income	133	195	169	133	112	164	122	84.1	167	-18.4
EBITDA	316	335	350	307
EPS, basic	3.82	5.54	4.79	3.79	3.29	4.89	3.74	2.59	5.21	-0.59
EPS, diluted	3.79	5.48	4.75	3.78	3.29	4.86	3.73	2.58	5.17	-0.59
Shares, basic (weighted)	34.9	35.2	35.3	35	34.2	33.6	32.7	32.5	32.1	31.4
Shares, diluted (weighted)	35.2	35.6	35.6	35.1	34.2	33.8	32.8	32.6	32.3	31.4
Dividend per share	0.20	0.20	0.20	0.20	0.20	0.20	0.20	0.25	0.41	0.45

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	189	212	209	242	368	300	247	317	333	329
Short-term investments	2	2.7	3.8	1.6	4.1	4.9	5.6	4.3	4	3.6
Receivables	341	383	387	376	369	368	404	399	385	400
Inventory	187	219	239	253	248	298	349	325	342	350
Other current assets	4.4	4.9	5.2	11.1	9.2	17.4	21.6	8	5.5	3.1
Total current assets	751	852	876	919	1,034	1,029	1,071	1,099	1,131	1,156
Property, plant and equipment	1,052	1,061	1,103	1,053	1,040	1,049	1,050	987	990	1,025
Lease right-of-use assets				44.8	50.9	49.6	49.1	44.1	46.9	45.2
Goodwill	779	779	812	807	809	908	915	914	914	916
Intangible assets	204	197	214	203	196	252	242	231	218	209
Other non-current assets	50.3	55.5	55.1	107	107	115	99.6	100	127	149
Total assets	2,863	2,970	3,087	3,113	3,209	3,374	3,402	3,347	3,394	3,469
Accounts payable	145	179	169	163	148	196	194	189	186	188
Accrued liabilities	61.3
Short-term debt	6.8	3.8	3.3	2.1	1	0.8	14.5	18	6.5	6.3
Total current liabilities	296	310	382	399	296	420	503	457	398	555
Long-term debt	1,070	960	908	824	933	936	928	911	960	955
Lease liabilities				43.3	49.2	47.2	43.9	37.9	38.7	33.8
Other non-current liabilities	81	107	91.1	126	139	136	114	101	102	98.7
Total liabilities	1,833	1,691	1,702	1,678	1,711	1,795	1,788	1,660	1,611	1,719
Total debt	1,077	964	911	826	934	937	943	929	966	961
Paid-in capital	400	423	432	442	453	474	488	501	524	535
Retained earnings	1,419	1,607	1,769	1,906	2,011	2,169	2,285	2,361	2,515	2,482
Treasury stock	-596	-597	-619	-660	-700	-775	-831	-845	-909	-968
Other comprehensive income	-221	-186	-234	-290	-308	-334	-367	-369	-387	-340
Shareholders' equity	1,007	1,252	1,354	1,403	1,461	1,539	1,580	1,652	1,747	1,713
Minority interests	24.4	27.4	31.8	31.9	37.9	40.2	33.7	34.7	36.2	36.3
Total equity	1,031	1,279	1,385	1,435	1,499	1,580	1,613	1,687	1,783	1,750
Total liabilities and equity	2,863	2,970	3,087	3,113	3,209	3,374	3,402	3,347	3,394	3,469
Shares outstanding	35	35.4	35.2	34.5	33.9	33.2	32.5	32.4	31.9	31

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	137	199	173	136	116	169	126	88.3	171	-14
Depreciation and amortization	91.9	91	94.3	98.4
Stock-based compensation	6.3	8.1	6.2	8.1	10.2	10.7	10.4	11.3	11.8	11.9
Deferred income tax	-10.9	-76.1	15.4	-1.4	-2.7	2.1	-17.2	-34.8	-7.6	-45.8
Change in receivables	-4.9	-27.3	-3	9.9	13.7	-7.2	-48.3	1.8	5.2	-5.2
Change in inventory	3.1	-25.2	-14.7	-16	8.3	-58.2	-66.1	18.7	-26.2	-2
Change in payables	-4.8	28	-11.2	-5.1	-16.7	43	7.2	-2.9	2.3	-2.2
Cash from operations	225	208	204	238	241	232	106	234	236	194
Capital expenditures	-62.4	-76.7	-75.9	-65	-66.8	-86	-82.3	-93.5	-89.5	-107
Acquisitions	0	0	-123	0	-9.2	-194	-22.4	-1.8	-4	0
Purchases of investments	-6.7	-4.5	-7.7	-5.5	-8.7	-9.4	-6.6	-17.9	-8.6	-14.3
Cash from investing	-61.6	-77.5	-200	-62	-78.7	-279	-102	-91.7	-94.5	-123
Debt issued	7.2	0	0	0	400	0	550	0	575	0
Debt repaid	-193	-119	-66.3	-88.2	-290	-1.2	-552	-14.8	-534	-6.6
Stock issued	5.5	14.6	3	2.2	3.2	12.8	5.7	5.1	15.7	2.4
Share buybacks	-2.6	-0.7	-21.7	-41	-40.7	-74.7	-56	-14.2	-63.6	-58.5
Dividends paid	-7	-7	-7.1	-7	-6.8	-6.8	-6.5	-8.1	-13.2	-14.2
Cash from financing	-195	-118	4.2	-143	-43	5.6	-34.1	-71.7	-110	-89.3
Exchange rate effect	-9.6	11.8	-11.2	-0.2	7.2	-27.6
Net change in cash	-40.9	23.7	-3.4	32.8	126	-68.2	-52.3	70	15.9	-4.1
Free cash flow	163	131	128	173	174	146	23.4	140	147	86.6
Income taxes paid	30.6	47.7	43.8	29.5	28.5	42.5	44	53.8	70.8

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 5, 2026; growth uses fiscal years. Valuation uses the share price of $66.98 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	24.5%	Gross profit / revenue.
Operating margin	-1.3%	Operating income / revenue.
Pre-tax margin	-3.8%	Pre-tax income / revenue.
Net margin	-3.1%	Net income / revenue.
FCF margin	5.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	10.7%	Cash from operations / revenue.
Return on equity (ROE)	-4.3%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-1.9%	Net income / average total assets.
Return on invested capital (ROIC)	-1.0%	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%.
R&D / revenue	1.1%	Research and development expense / revenue.
SG&A / revenue	10.1%	Selling, general and administrative expense / revenue.
Capex / revenue	5.1%	Capital expenditures / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-0.8%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	5.4%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-5.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.7%	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	5.0%	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	-83.5%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-39.6%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-24.1%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-111.0%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-111.4%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-18.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	22.4%	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	-4.2%	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	-41.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	54.7%	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	-13.0%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	9.8%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	31.0%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	17.6%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-1.9%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	2.7%	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	3.2%	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	2.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	0.7%	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	1.6%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.8%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-1.4%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-1.7%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	1.43x	Current assets / current liabilities.
Quick ratio	0.92x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.42x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.62x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	27.4%	Total debt / total assets.
Liabilities / assets	54.9%	Total liabilities / total assets.
Net debt	$612.7M	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$355.2M	Current assets - current liabilities.
Goodwill and intangibles / assets	32.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$426.6M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.61x	Revenue / average total assets.
Fixed asset turnover	2.08x	Revenue / average property, plant and equipment.
Inventory turnover	4.56x	Cost of revenue / average inventory.
Days inventory	80 days	365 x average inventory / cost of revenue.
Receivables turnover	5.20x	Revenue / average receivables.
Days sales outstanding	70 days	365 x average receivables / revenue.
Days payables	46 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	105 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	47.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$2.16	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.
Revenue per share	$69.04	Revenue / diluted weighted shares.
FCF per share	$3.87	Free cash flow / diluted weighted shares.
Operating cash flow per share	$7.41	Cash from operations / diluted weighted shares.
Book value per share	$49.68	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$13.72	Tangible book value / shares outstanding.
Cash per share	$11.13	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	12.2%	Dividends paid / free cash flow, when free cash flow is positive.
Buybacks / FCF	29.2%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.09B	Share price x shares outstanding.
Enterprise value	$2.70B	Market cap + total debt - cash - short-term investments.
P/S	0.97x	Market cap / revenue.
P/B	1.35x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	4.89x	Market cap / tangible book value, when positive.
P/FCF	17.3x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.05x	Market cap / cash from operations, when positive.
EV/Sales	1.26x	Enterprise value / revenue.
EV/FCF	22.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.8%	Free cash flow / market cap.
Earnings yield	-3.2%	Net income / market cap (the inverse of P/E).
Dividend yield	0.7%	Dividends paid over the period / market cap.
Shareholder yield	2.4%	(Dividends paid + share buybacks) / market cap.

What was MINERALS TECHNOLOGIES INC's revenue in fiscal 2025?

MINERALS TECHNOLOGIES INC reported revenue of $2.07B for fiscal 2025, 2.2% lower than the year before.

Was MINERALS TECHNOLOGIES INC profitable in fiscal 2025?

No. It reported a net loss of $18.4M.

How much free cash flow did MINERALS TECHNOLOGIES INC generate in fiscal 2025?

Cash from operations of $193.7M minus capital expenditures of $107.1M left free cash flow of $86.6M.

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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