Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

FMC Corp's Exceptional Performance Comes At A Cost

There are a lot of really good things about FMC Corporation (NYSE:FMC). The company's unusual model in agricultural chemicals allows for exceptional margins, and the company's food/nutrition business is a leader in close to two-thirds of its operations. The only fly in the ointment is that investors are well aware of FMC's exceptional growth and its different model, and the valuation on these shares is not low.

Pursuing A Different Mix In Ag

FMC's agricultural chemical operations are unusual in several respects. The company has enjoyed an exceptional run of growth, as this segment has grown reported revenue at a trailing 10-year CAGR of 48%. FMC is now one of the largest agricultural companies in the world, with...

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