Intrinsic value of FMC - FMC

Previous Close

$84.44

  Intrinsic Value

$44.97

stock screener

  Rating & Target

sell

-47%

Previous close

$84.44

 
Intrinsic value

$44.97

 
Up/down potential

-47%

 
Rating

sell

We calculate the intrinsic value of FMC stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 11.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  13.40
  12.56
  11.80
  11.12
  10.51
  9.96
  9.46
  9.02
  8.62
  8.25
  7.93
  7.64
  7.37
  7.14
  6.92
  6.73
  6.56
  6.40
  6.26
  6.13
  6.02
  5.92
  5.83
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
  5.40
Revenue, $m
  3,265
  3,675
  4,109
  4,566
  5,046
  5,548
  6,073
  6,621
  7,191
  7,785
  8,402
  9,044
  9,710
  10,403
  11,123
  11,872
  12,650
  13,460
  14,303
  15,180
  16,094
  17,047
  18,040
  19,077
  20,158
  21,288
  22,468
  23,701
  24,990
  26,338
Variable operating expenses, $m
  2,900
  3,216
  3,551
  3,903
  4,273
  4,660
  5,065
  5,487
  5,927
  6,385
  6,477
  6,972
  7,486
  8,020
  8,575
  9,152
  9,753
  10,377
  11,026
  11,703
  12,408
  13,142
  13,908
  14,707
  15,541
  16,411
  17,321
  18,272
  19,266
  20,305
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  2,900
  3,216
  3,551
  3,903
  4,273
  4,660
  5,065
  5,487
  5,927
  6,385
  6,477
  6,972
  7,486
  8,020
  8,575
  9,152
  9,753
  10,377
  11,026
  11,703
  12,408
  13,142
  13,908
  14,707
  15,541
  16,411
  17,321
  18,272
  19,266
  20,305
Operating income, $m
  365
  459
  558
  663
  773
  888
  1,008
  1,134
  1,264
  1,400
  1,925
  2,072
  2,224
  2,383
  2,548
  2,719
  2,898
  3,083
  3,276
  3,477
  3,687
  3,905
  4,132
  4,370
  4,618
  4,876
  5,147
  5,429
  5,724
  6,033
EBITDA, $m
  1,123
  1,264
  1,413
  1,570
  1,736
  1,908
  2,089
  2,277
  2,474
  2,678
  2,890
  3,111
  3,340
  3,578
  3,826
  4,084
  4,351
  4,630
  4,920
  5,221
  5,536
  5,864
  6,205
  6,562
  6,934
  7,322
  7,728
  8,152
  8,596
  9,060
Interest expense (income), $m
  82
  175
  222
  272
  325
  381
  440
  501
  565
  632
  702
  775
  850
  929
  1,010
  1,095
  1,183
  1,275
  1,370
  1,469
  1,572
  1,679
  1,791
  1,908
  2,029
  2,156
  2,288
  2,426
  2,571
  2,722
  2,879
Earnings before tax, $m
  190
  237
  286
  338
  392
  448
  507
  568
  632
  698
  1,150
  1,221
  1,296
  1,373
  1,453
  1,536
  1,623
  1,713
  1,807
  1,905
  2,007
  2,114
  2,225
  2,341
  2,462
  2,588
  2,720
  2,858
  3,003
  3,154
Tax expense, $m
  51
  64
  77
  91
  106
  121
  137
  153
  171
  188
  310
  330
  350
  371
  392
  415
  438
  463
  488
  514
  542
  571
  601
  632
  665
  699
  734
  772
  811
  852
Net income, $m
  139
  173
  209
  247
  286
  327
  370
  415
  461
  510
  839
  892
  946
  1,002
  1,061
  1,122
  1,185
  1,251
  1,319
  1,391
  1,465
  1,543
  1,624
  1,709
  1,797
  1,889
  1,986
  2,087
  2,192
  2,302

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  10,431
  11,741
  13,127
  14,587
  16,120
  17,726
  19,403
  21,153
  22,975
  24,872
  26,844
  28,894
  31,024
  33,237
  35,538
  37,930
  40,416
  43,003
  45,696
  48,499
  51,419
  54,463
  57,637
  60,947
  64,403
  68,012
  71,781
  75,721
  79,840
  84,148
Adjusted assets (=assets-cash), $m
  10,431
  11,741
  13,127
  14,587
  16,120
  17,726
  19,403
  21,153
  22,975
  24,872
  26,844
  28,894
  31,024
  33,237
  35,538
  37,930
  40,416
  43,003
  45,696
  48,499
  51,419
  54,463
  57,637
  60,947
  64,403
  68,012
  71,781
  75,721
  79,840
  84,148
Revenue / Adjusted assets
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
  0.313
Average production assets, $m
  3,751
  4,222
  4,721
  5,246
  5,797
  6,375
  6,978
  7,607
  8,263
  8,945
  9,654
  10,391
  11,157
  11,953
  12,781
  13,641
  14,535
  15,466
  16,434
  17,442
  18,492
  19,587
  20,728
  21,919
  23,162
  24,460
  25,815
  27,232
  28,713
  30,263
Working capital, $m
  317
  356
  399
  443
  489
  538
  589
  642
  698
  755
  815
  877
  942
  1,009
  1,079
  1,152
  1,227
  1,306
  1,387
  1,472
  1,561
  1,654
  1,750
  1,850
  1,955
  2,065
  2,179
  2,299
  2,424
  2,555
Total debt, $m
  4,108
  5,037
  6,020
  7,055
  8,142
  9,280
  10,470
  11,710
  13,002
  14,347
  15,745
  17,198
  18,709
  20,278
  21,909
  23,605
  25,368
  27,202
  29,111
  31,099
  33,169
  35,327
  37,577
  39,925
  42,375
  44,933
  47,606
  50,399
  53,319
  56,374
Total liabilities, $m
  7,395
  8,324
  9,307
  10,342
  11,429
  12,567
  13,757
  14,997
  16,290
  17,634
  19,032
  20,486
  21,996
  23,565
  25,196
  26,892
  28,655
  30,489
  32,398
  34,386
  36,456
  38,614
  40,864
  43,212
  45,662
  48,220
  50,893
  53,686
  56,607
  59,661
Total equity, $m
  3,035
  3,417
  3,820
  4,245
  4,691
  5,158
  5,646
  6,155
  6,686
  7,238
  7,812
  8,408
  9,028
  9,672
  10,342
  11,037
  11,761
  12,514
  13,297
  14,113
  14,963
  15,849
  16,772
  17,736
  18,741
  19,791
  20,888
  22,035
  23,233
  24,487
Total liabilities and equity, $m
  10,430
  11,741
  13,127
  14,587
  16,120
  17,725
  19,403
  21,152
  22,976
  24,872
  26,844
  28,894
  31,024
  33,237
  35,538
  37,929
  40,416
  43,003
  45,695
  48,499
  51,419
  54,463
  57,636
  60,948
  64,403
  68,011
  71,781
  75,721
  79,840
  84,148
Debt-to-equity ratio
  1.350
  1.470
  1.580
  1.660
  1.740
  1.800
  1.850
  1.900
  1.940
  1.980
  2.020
  2.050
  2.070
  2.100
  2.120
  2.140
  2.160
  2.170
  2.190
  2.200
  2.220
  2.230
  2.240
  2.250
  2.260
  2.270
  2.280
  2.290
  2.290
  2.300
Adjusted equity ratio
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291
  0.291

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  139
  173
  209
  247
  286
  327
  370
  415
  461
  510
  839
  892
  946
  1,002
  1,061
  1,122
  1,185
  1,251
  1,319
  1,391
  1,465
  1,543
  1,624
  1,709
  1,797
  1,889
  1,986
  2,087
  2,192
  2,302
Depreciation, amort., depletion, $m
  758
  805
  855
  908
  963
  1,021
  1,081
  1,144
  1,209
  1,278
  965
  1,039
  1,116
  1,195
  1,278
  1,364
  1,454
  1,547
  1,643
  1,744
  1,849
  1,959
  2,073
  2,192
  2,316
  2,446
  2,582
  2,723
  2,871
  3,026
Funds from operations, $m
  897
  978
  1,064
  1,154
  1,249
  1,348
  1,451
  1,559
  1,671
  1,787
  1,805
  1,931
  2,062
  2,197
  2,339
  2,486
  2,638
  2,797
  2,963
  3,135
  3,315
  3,502
  3,697
  3,901
  4,113
  4,335
  4,567
  4,810
  5,063
  5,329
Change in working capital, $m
  37
  40
  42
  44
  47
  49
  51
  53
  55
  58
  60
  62
  65
  67
  70
  73
  76
  79
  82
  85
  89
  92
  96
  101
  105
  110
  114
  120
  125
  131
Cash from operations, $m
  859
  938
  1,022
  1,110
  1,202
  1,299
  1,400
  1,505
  1,615
  1,730
  1,745
  1,868
  1,997
  2,130
  2,269
  2,413
  2,563
  2,719
  2,881
  3,050
  3,226
  3,409
  3,601
  3,800
  4,008
  4,226
  4,453
  4,690
  4,938
  5,198
Maintenance CAPEX, $m
  -331
  -375
  -422
  -472
  -525
  -580
  -637
  -698
  -761
  -826
  -894
  -965
  -1,039
  -1,116
  -1,195
  -1,278
  -1,364
  -1,454
  -1,547
  -1,643
  -1,744
  -1,849
  -1,959
  -2,073
  -2,192
  -2,316
  -2,446
  -2,582
  -2,723
  -2,871
New CAPEX, $m
  -445
  -471
  -498
  -525
  -551
  -577
  -603
  -629
  -655
  -682
  -709
  -737
  -766
  -796
  -827
  -860
  -894
  -930
  -968
  -1,008
  -1,050
  -1,095
  -1,141
  -1,191
  -1,243
  -1,298
  -1,356
  -1,417
  -1,481
  -1,549
Cash from investing activities, $m
  -776
  -846
  -920
  -997
  -1,076
  -1,157
  -1,240
  -1,327
  -1,416
  -1,508
  -1,603
  -1,702
  -1,805
  -1,912
  -2,022
  -2,138
  -2,258
  -2,384
  -2,515
  -2,651
  -2,794
  -2,944
  -3,100
  -3,264
  -3,435
  -3,614
  -3,802
  -3,999
  -4,204
  -4,420
Free cash flow, $m
  84
  92
  101
  113
  126
  142
  159
  178
  199
  221
  141
  166
  192
  218
  246
  275
  304
  335
  366
  398
  431
  466
  500
  536
  574
  612
  651
  692
  734
  777
Issuance/(repayment) of debt, $m
  871
  929
  983
  1,035
  1,087
  1,138
  1,189
  1,241
  1,292
  1,345
  1,398
  1,453
  1,510
  1,569
  1,631
  1,696
  1,763
  1,834
  1,909
  1,988
  2,070
  2,158
  2,250
  2,347
  2,450
  2,558
  2,673
  2,793
  2,920
  3,054
Issuance/(repurchase) of shares, $m
  215
  208
  194
  178
  160
  140
  118
  94
  69
  42
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  1,086
  1,137
  1,177
  1,213
  1,247
  1,278
  1,307
  1,335
  1,361
  1,387
  1,398
  1,453
  1,510
  1,569
  1,631
  1,696
  1,763
  1,834
  1,909
  1,988
  2,070
  2,158
  2,250
  2,347
  2,450
  2,558
  2,673
  2,793
  2,920
  3,054
Total cash flow (excl. dividends), $m
  1,170
  1,229
  1,278
  1,326
  1,374
  1,420
  1,467
  1,513
  1,560
  1,608
  1,539
  1,619
  1,702
  1,788
  1,877
  1,970
  2,068
  2,169
  2,275
  2,386
  2,502
  2,623
  2,751
  2,884
  3,024
  3,170
  3,324
  3,485
  3,654
  3,832
Retained Cash Flow (-), $m
  -353
  -381
  -403
  -425
  -446
  -467
  -488
  -509
  -530
  -552
  -574
  -596
  -620
  -644
  -669
  -696
  -724
  -753
  -783
  -816
  -850
  -886
  -924
  -963
  -1,006
  -1,050
  -1,097
  -1,146
  -1,199
  -1,254
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  20
  23
  26
  29
  32
  35
  39
  43
  46
  50
  54
  59
  63
  68
  73
  78
  83
  89
  94
  100
  106
  113
  119
  126
  134
  141
  149
  157
  166
  175
Cash available for distribution, $m
  816
  848
  875
  901
  927
  953
  979
  1,004
  1,030
  1,056
  966
  1,023
  1,082
  1,144
  1,208
  1,275
  1,344
  1,416
  1,492
  1,570
  1,652
  1,738
  1,827
  1,920
  2,018
  2,120
  2,227
  2,339
  2,456
  2,578
Discount rate, %
  8.80
  9.24
  9.70
  10.19
  10.70
  11.23
  11.79
  12.38
  13.00
  13.65
  14.33
  15.05
  15.80
  16.59
  17.42
  18.29
  19.21
  20.17
  21.18
  22.24
  23.35
  24.52
  25.74
  27.03
  28.38
  29.80
  31.29
  32.85
  34.50
  36.22
PV of cash for distribution, $m
  750
  711
  663
  611
  558
  503
  448
  395
  343
  294
  221
  190
  161
  133
  109
  87
  68
  52
  39
  28
  20
  14
  9
  6
  4
  2
  1
  1
  0
  0
Current shareholders' claim on cash, %
  98.1
  96.6
  95.3
  94.2
  93.4
  92.7
  92.2
  91.9
  91.6
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5
  91.5

FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides. The Company's FMC Agricultural Solutions segment operates in the agrochemicals industry. This segment develops, manufactures and sells a portfolio of professional pest control, and lawn and garden products. The FMC Health and Nutrition segment focuses on nutritional ingredients, health excipients and functional health ingredients. The Company's FMC Health and Nutrition segment focuses on food ingredients, pharmaceutical excipients and omega-3 oils. The Company's FMC Lithium segment manufactures lithium for use in a range of lithium products.

FINANCIAL RATIOS  of  FMC (FMC)

Valuation Ratios
P/E Ratio 54
Price to Sales 3.4
Price to Book 5.8
Price to Tangible Book
Price to Cash Flow 22.7
Price to Free Cash Flow 30.8
Growth Rates
Sales Growth Rate 0.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 20.2%
Cap. Spend. - 3 Yr. Gr. Rate -10%
Financial Strength
Quick Ratio 1
Current Ratio 0.3
LT Debt to Equity 91.9%
Total Debt to Equity 96.7%
Interest Coverage 5
Management Effectiveness
Return On Assets 4.3%
Ret/ On Assets - 3 Yr. Avg. 7.1%
Return On Total Capital 5.3%
Ret/ On T. Cap. - 3 Yr. Avg. 9.4%
Return On Equity 10.9%
Return On Equity - 3 Yr. Avg. 20%
Asset Turnover 0.5
Profitability Ratios
Gross Margin 36.6%
Gross Margin - 3 Yr. Avg. 35.5%
EBITDA Margin 17%
EBITDA Margin - 3 Yr. Avg. 11.9%
Operating Margin 13.3%
Oper. Margin - 3 Yr. Avg. 8.2%
Pre-Tax Margin 10.3%
Pre-Tax Margin - 3 Yr. Avg. 5.8%
Net Profit Margin 6.4%
Net Profit Margin - 3 Yr. Avg. 10.2%
Effective Tax Rate 27.7%
Eff/ Tax Rate - 3 Yr. Avg. 2.4%
Payout Ratio 42.6%

FMC stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FMC stock intrinsic value calculation we used $2879 million for the last fiscal year's total revenue generated by FMC. The default revenue input number comes from 2017 income statement of FMC. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FMC stock valuation model: a) initial revenue growth rate of 13.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 8.8%, whose default value for FMC is calculated based on our internal credit rating of FMC, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of FMC.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FMC stock the variable cost ratio is equal to 90.4%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FMC stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for FMC.

Corporate tax rate of 27% is the nominal tax rate for FMC. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FMC stock is equal to 0.7%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FMC are equal to 114.9%.

Life of production assets of 10 years is the average useful life of capital assets used in FMC operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FMC is equal to 9.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $2682 million for FMC - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 134 million for FMC is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of FMC at the current share price and the inputted number of shares is $11.3 billion.

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COMPANY NEWS

▶ Is FMC Corporation a Buy?   [Aug-20-18 06:04AM  Motley Fool]
▶ FMC Corporation to Host Earnings Call   [07:00AM  ACCESSWIRE]
▶ FMC: 2Q Earnings Snapshot   [04:54PM  Associated Press]
▶ FMC's Lithium Business to be Named Livent Corporation   [Jul-26-18 07:30AM  PR Newswire]
▶ Ag sector bounces on news of US tariff aid for farmers   [Jul-24-18 05:17PM  Associated Press]
▶ FMC Corporation's Board Declares Quarterly Dividend   [Jul-19-18 04:30PM  PR Newswire]
▶ [$$] Lithium sell-off is overdone Goldman Sachs   [Jul-02-18 11:04PM  Financial Times]
▶ The Upside in FMC Stock Remains HUGE   [06:28AM  InvestorPlace]
▶ Why There Wont Be An OPEC For Battery Metals   [Jun-16-18 07:00PM  Oilprice.com]
▶ 5 Top Stock Trades for Wednesday Morning   [Jun-12-18 04:15PM  InvestorPlace]
▶ FMC Corporation Issues Annual Sustainability Report   [Jun-06-18 04:30PM  PR Newswire]
▶ 5 Best Profitable Stocks to Garner Stunning Returns   [May-29-18 01:25PM  InvestorPlace]
▶ FMC Announces Leadership Appointments   [May-21-18 04:30PM  PR Newswire]
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