olivLaw · US equity research
Balchem Corporation BCPC
Chemicals & Allied Products · SIC 2800 · Vertical: Chemicals & Allied Products (SIC 2800)
Balchem Corporation develops and manufactures specialty performance ingredients for nutrition, food, pharmaceutical, animal health, plant nutrition and industrial markets across three reportable segments. The company closed fiscal 2025 with net sales of 1037.161 million USD and shows growth in all three segments and in the third quarter of 2026.
At the close of 04 Nov 2026, Balchem Corporation (BCPC) stock was 182.58 USD (+4.03% on the day), with market capitalisation 5.8 bn USD, P/E 34.4 on diluted EPS of 5.31 USD over the last 12 months, dividend yield 0.53%, beta 0.46, 52-week range 147.36–183.26 USD. Latest reported quarter (Q3 2026): revenue of 290.7 m USD (+8.6% YoY), net income of 46.7 m USD (+16.0% YoY), diluted EPS 1.46 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 68.6
- strong (55–70)
- Bollinger (20, 2)
- 164.17 – 178.61
- above the upper band · %B 1.27 · band width 8.4%
- SMA 50 / 200
- 170.06 / 169.39
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.79 / 0.81
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +10.0% | −1.1% | +11.1 pp | — |
| 3 months | +2.1% | −0.5% | +2.6 pp | — |
| 6 months | +13.1% | +4.4% | +8.7 pp | — |
| Year to date | +19.1% | +12.3% | +6.7 pp | — |
| 1 year | +20.2% | +13.5% | +6.6 pp | +0.8% |
| 3 years | +50.9% | +76.4% | −25.5 pp | −49.7% |
| 5 years | +12.8% | +63.7% | −50.9 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Sept 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 240.0 m | 250.5 m | 255.5 m | 267.6 m | 263.6 m | 270.7 m | 284.0 m | 290.7 m |
| Cost of revenue | 153.7 m | 162.4 m | 162.4 m | 172.1 m | 169.7 m | 169.6 m | 180.3 m | 184.9 m |
| Gross profit | 86.3 m | 88.2 m | 93.1 m | 95.5 m | 93.9 m | 101.1 m | 103.7 m | 105.7 m |
| Research & development | 4.5 m | 4.7 m | 4.3 m | 4.5 m | 5.1 m | 5.9 m | 4.5 m | 5.3 m |
| Operating income | 47.4 m | 51.0 m | 51.4 m | 54.6 m | 52.3 m | 55.6 m | 59.2 m | 62.4 m |
| Depreciation & amortisation | 10.9 m | 11.0 m | 11.4 m | 11.6 m | 11.7 m | 12.5 m | 12.2 m | 12.4 m |
| Pre-tax income | 44.5 m | 47.9 m | 49.0 m | 52.0 m | 50.0 m | 52.5 m | 57.8 m | 60.0 m |
| Income tax | 10.9 m | 10.9 m | 10.7 m | 11.8 m | 10.8 m | 12.2 m | 13.2 m | 13.3 m |
| Net income | 33.6 m | 37.1 m | 38.3 m | 40.3 m | 39.2 m | 40.3 m | 44.6 m | 46.7 m |
| Diluted EPS | 1.03 | 1.13 | 1.17 | 1.24 | 1.21 | 1.25 | 1.39 | 1.46 |
| Operating cash flow | 52.3 m | 36.5 m | 47.3 m ≈ | 65.6 m ≈ | 67.3 m | 40.1 m | 46.7 m ≈ | 69.8 m ≈ |
| Dividends paid | 4.0 k | 28.3 m | 2.0 k ≈ | 11.0 k ≈ | 11.0 k | 30.8 m | 3.0 k ≈ | 1.0 k ≈ |
| Share repurchases | 306.0 k | 5.3 m | 33.3 m ≈ | 15.4 m ≈ | 53.6 m | 15.7 m | 28.8 m ≈ | 27.4 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 20 percentile of its own 40-quarter history (min 28.1, median 40.0, max 57.2; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 643.7 m | 643.7 m | 703.6 m | 799.0 m | 942.4 m | 922.4 m | 953.7 m | 1.0 bn |
| Revenue YoY | +8.2% | +0.0% | +9.3% | +13.6% | +17.9% | −2.1% | +3.4% | +8.8% |
| Net income | 78.6 m | 79.7 m | 84.6 m | 96.1 m | 105.4 m | 108.5 m | 128.5 m | 154.8 m |
| Net income YoY | −12.8% | +1.4% | +6.2% | +13.6% | +9.6% | +3.0% | +18.4% | +20.5% |
| Diluted EPS | 2.42 | 2.45 | 2.60 | 2.94 | 3.25 | 3.35 | 3.93 | 4.75 |
| Diluted EPS YoY | −13.3% | +1.2% | +6.1% | +13.1% | +10.5% | +3.1% | +17.3% | +20.9% |
| net % | 12.2% | 12.4% | 12.0% | 12.0% | 11.2% | 11.8% | 13.5% | 14.9% |
| Free cash flow | 99.5 m | 98.7 m | 118.4 m | 124.4 m | 89.5 m | unavailable | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 74.6 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 1.3 bn USD
- Total assets
- 1.7 bn USD
- Debt / equity
- unavailable
- Current ratio
- 2.07x
- ROE
- 12.9%
- ROA
- 9.5%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 703.6 m | 799.0 m | 942.4 m | 922.4 m | 953.7 m | 1.0 bn | SEC (XBRL)· 20 Feb 2026verified |
| Cost of revenue | 479.7 m | 555.8 m | 661.9 m | 620.4 m | 617.5 m | 666.5 m | SEC (XBRL)· 20 Feb 2026verified |
| Gross profit | 223.9 m | 243.2 m | 280.5 m | 302.1 m | 336.2 m | 370.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Research & development | 10.3 m | 13.5 m | 12.2 m | 15.0 m | 16.8 m | 18.5 m | SEC (XBRL)· 20 Feb 2026verified |
| Operating income | 111.1 m | 127.5 m | 145.2 m | 159.2 m | 182.9 m | 209.3 m | SEC (XBRL)· 20 Feb 2026verified |
| Depreciation & amortisation | 51.3 m | 48.9 m | 51.8 m | 54.9 m | 48.0 m | 45.7 m | SEC (XBRL)· 20 Feb 2026verified |
| EBITDA | 162.4 m ≈ | 176.4 m ≈ | 197.0 m ≈ | 214.1 m ≈ | 230.9 m ≈ | 255.0 m ≈ | SEC (XBRL)· 20 Feb 2026derived |
| Pre-tax income | 106.4 m | 125.2 m | 133.7 m | 137.3 m | 166.5 m | 199.0 m | SEC (XBRL)· 20 Feb 2026verified |
| Income tax | 21.8 m | 29.1 m | 28.4 m | 28.7 m | 38.0 m | 44.2 m | SEC (XBRL)· 20 Feb 2026verified |
| Net income | 84.6 m | 96.1 m | 105.4 m | 108.5 m | 128.5 m | 154.8 m | SEC (XBRL)· 20 Feb 2026verified |
| Diluted EPS | 2.60 | 2.94 | 3.25 | 3.35 | 3.93 | 4.75 | SEC (XBRL)· 20 Feb 2026verified |
| Weighted average diluted shares | 32.5 m | 32.7 m | 32.4 m | 32.4 m | 32.7 m | 32.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Dividend per share | — | — | 0.71 | 0.79 | 0.87 | 0.96 | SEC (XBRL)· 20 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 84.6 m | 103.2 m | 66.6 m | 64.4 m | 49.5 m | 74.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Receivables | 98.2 m | 117.4 m | 131.6 m | 125.3 m | 119.7 m | 143.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Inventories | 70.6 m | 91.1 m | 119.7 m | 109.5 m | 130.8 m | 131.4 m | SEC (XBRL)· 20 Feb 2026verified |
| Current assets | 266.9 m | 322.2 m | 335.8 m | 314.2 m | 313.8 m | 365.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Property, plant & equipment, net | 228.1 m | 237.5 m | 271.4 m | 276.0 m | 282.2 m | 306.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Goodwill | 529.5 m | 523.9 m | 769.5 m | 778.9 m | 780.0 m | 816.4 m | SEC (XBRL)· 20 Feb 2026verified |
| Intangibles (excl. goodwill) | 121.7 m | 94.7 m | 213.3 m | 191.2 m | 132.5 m | 133.0 m | SEC (XBRL)· 20 Feb 2026verified |
| Total assets | 1.2 bn | 1.2 bn | 1.6 bn | 1.6 bn | 1.6 bn | 1.7 bn | SEC (XBRL)· 20 Feb 2026verified |
| Current liabilities | 94.4 m | 143.8 m | 140.0 m | 148.5 m | 157.7 m | 176.4 m | SEC (XBRL)· 20 Feb 2026verified |
| Total liabilities | 337.6 m | 322.3 m | 686.2 m | 543.2 m | 425.5 m | 428.8 m | SEC (XBRL)· 20 Feb 2026verified |
| Equity | 828.2 m † | 877.0 m † | 938.3 m † | 1.1 bn † | 1.1 bn † | 1.3 bn † | SEC (XBRL)· 20 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | 150.5 m | 160.5 m | 138.5 m | 183.8 m | 182.0 m | 216.6 m | SEC (XBRL)· 20 Feb 2026verified |
| Capex | 32.1 m | 36.1 m | 49.1 m | — | — | — | SEC (XBRL)· 24 Feb 2023verified |
| Free cash flow | 118.4 m ≈ | 124.4 m ≈ | 89.5 m ≈ | — | — | — | SEC (XBRL)· 24 Feb 2023derived |
| Investing cash flow | -34.6 m | -35.3 m | -416.0 m | -34.8 m | -59.7 m | -43.9 m | SEC (XBRL)· 20 Feb 2026verified |
| Financing cash flow | -101.2 m | -102.2 m | 246.7 m | -153.3 m | -133.8 m | -152.8 m | SEC (XBRL)· 20 Feb 2026verified |
| Dividends paid | 16.7 m | 18.7 m | 20.7 m | 22.9 m | 25.6 m | 28.3 m | SEC (XBRL)· 20 Feb 2026verified |
| Share repurchases | 13.5 m | 35.2 m | 35.4 m | 4.5 m | 5.7 m | 107.6 m | SEC (XBRL)· 20 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
Risk
Valuation
olivLaw classification
- score weight coverage: 43.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 5.8 bn USD
Key indicators
Coverage and freshness
Score by group
44% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 112.98 – 208.10 USD.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/E112.98 – 208.10 (Mid 150.41)3 companies used · median multiple 28.3x · quartiles 21.3x – 39.2xIOSP, NGVT, SOLS
- Dividend discount (DDM)outside the aggregate12.62 – 16.97 (Mid 14.47)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 43.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 15.4% | 100 (vs peers) | 14% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | 3.2% | 27 (on a fixed band) | 19% |
| EPS CAGR 3Y · Growth | 13.5% | 90 (on a fixed band) | 19% |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.5x | 100 (on a fixed band) | 10% |
| P/E (TTM) · Valuation | 34.4x | 0 (on a fixed band) | 24% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 2.7% | 38 (on a fixed band) | 14% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth58/100 · 2/2 factors with a value
- Quality· partial100/100 · 1/3 factors with a value
- Returns· partial38/100 · 1/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Balchem Corporation (BCPC). Latest full fiscal year: 2025; data up to 2026-09-30.
Figures computed from the financial statements: revenue 1.0 bn USD in 2025; YoY growth 8.8%; net margin 15.4%; ROE 13.0%.
The estimated value range is 112.98–208.10 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 150.41 USD, the price of 182.58 USD leaves a potential of -17.6% (value / price − 1) and a margin of safety of -21.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 43.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 15.4%
- EPS CAGR 3Y: 13.5%
- Current ratio: 2.5x
What contradicts it
- Revenue CAGR 3Y: 3.2%
- P/E (TTM): 34.4x
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Chemicals & Allied Products (SIC 2800) · same industry (4-digit SIC) · compared with 14 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SOLSSolstice Advanced Materials Inc. | 9.1 bn | 28.3 | 13.6% | 7.8% | +3.1% | +21% / unavailable |
| BCPCBalchem Corporation | 5.8 bn | 34.4 | 13.0% | 15.4% | +8.8% | +20% / +51% |
| PRMPerimeter Solutions, Inc. | 4.6 bn | — | -30.9% | -44.9% | +16.4% | +1% / +575% |
| NGVTIngevity Corporation | 2.5 bn | 50.1 | 64.4% | 4.7% | −2.7% | +41% / +90% |
| CCThe Chemours Company | 2.1 bn | — | -339.7% | -5.2% | +0.4% | +8% / −50% |
| OLNOlin Corporation | 2.1 bn | — | -12.2% | -3.3% | +3.7% | −14% / −62% |
| IOSPInnospec Inc. | 2.0 bn | 14.2 | 10.5% | 7.5% | −3.7% | +8% / −23% |
| HUNHuntsman Corporation | 1.7 bn | — | -11.8% | -5.8% | −5.8% | −5% / −60% |
| ECVTEcovyst Inc. | 1.1 bn | — | -9.6% | -7.1% | +20.9% | +8% / +5% |
| FMCFmc Corporation | 998.7 m | — | -226.7% | -151.2% | −18.3% | −55% / −88% |
| ACNTAscent Industries Co. | 124.0 m | — | -1.1% | -1.0% | −7.2% | −3% / +68% |
| CITRCitroTech Inc. | 54.8 m | — | -431.0% | -1,788.4% | +194.6% | unavailable / unavailable |
| LOOPLoop Industries, Inc. | 13.0 m | — | — | -2,154.3% | −95.3% | −77% / −92% |
| GUREGulf Resources, Inc. | 5.6 m | — | -32.4% | -134.4% | +231.8% | +3% / −80% |
| ADURAduro Clean Technologies Inc. | — | — | -133.8% | -5,253.1% | −31.5% | −26% / unavailable |
1- and 3-year price returns: for BCPC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 107.90 Total return -40% · Per year -40% | 190.87 Total return 5% · Per year 5% | 287.67 Total return 58% · Per year 58% |
| 3 years | 102.10 Total return -43% · Per year -17% | 203.47 Total return 13% · Per year 4% | 337.07 Total return 87% · Per year 23% |
| 5 years | 96.61 Total return -45% · Per year -11% | 216.89 Total return 22% · Per year 4% | 394.96 Total return 120% · Per year 17% |
- Exit P/E± 50.87
- Net margin± 35.61
- Annual revenue growth± 29.58
- Annual dilution± 2.99
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Balchem Corporation develops and manufactures specialty performance ingredients for nutrition, food, pharmaceutical, animal health, plant nutrition and industrial markets across three reportable segments. The company closed fiscal 2025 with net sales of 1037.161 million USD and shows growth in all three segments and in the third quarter of 2026.
SWOT
Strengths
- The company has a diversified portfolio across three segments, with sales and operating earnings growth in fiscal 2025 and in the third quarter of 2026 13.
- Operating cash flow increased in 2025, and net debt reported at September 30, 2026 is at a low leverage level 13.
- A base of patents, registered trademarks and know-how supports the position of value-added human nutrition products 1.
Weaknesses
- The animal nutrition segment has much lower operating margins than human nutrition, and choline chloride is a commodity-oriented product 1.
- Plant nutrition within Specialty Products is seasonal, with sales concentrated in the first half of the year 1.
- The company relies on complex manufacturing and supply chains, so disruption at a single facility could affect results 1.
Opportunities
- Demand for human nutrition ingredients with scientific backing could support growth in the main segment, as the October 2026 innovation launches suggest 3.
- The 2026 capital expenditure program targets new capacity and efficiency, which could support volume growth 1.
- The company is actively pursuing acquisition candidates, which could extend the portfolio if completed 1.
Threats
- Ethylene oxide regulation may restrict sterilization uses, and customers could reduce demand if measures widen 1.
- Geopolitical tensions, shifting tariffs and transport disruptions could raise costs and supply chain risks 12.
- Private and regional competitors, sometimes with greater resources, could pressure prices in standardized markets 1.
Risks
- Operations outside the United Statesmedium
Foreign sales and operations are exposed to tariffs, sanctions, political instability and regulatory changes, which could affect the ability to maintain international sales 1.
- Supply chain disruptionmedium
Conflicts and political tensions may limit access to materials and energy, especially at the European plants, which could raise costs 1.
- Ethylene oxide regulationhigh
Restrictions and phase-out programs for ethylene oxide could reduce part of performance gas sales if they expand 1.
- Information systems securitymedium
Cyberattacks and failures at third-party providers could disrupt operations or lead to loss of confidential data, with significant remediation costs 1.
- Labor relations and workforcelow
Part of the North American workforce is unionized, and failure to renew agreements on reasonable terms could lead to strikes or higher labor costs 1.
Investment thesis
What would need to be true (bull case)
- Sales growth across all segments, together with rising operating margins and low net debt, points to a solid financial position if the trend holds 13.
- If the EU anti-dumping duties on choline chloride remain in place, the company's competitive position for this product in Europe could stay more favorable 1.
- Share repurchases and capital investment show a capital allocation aimed at long-term shareholder value 31.
What would break the thesis
- The animal nutrition segment has much lower margins and depends on a price-competitive product, which could limit earnings if price pressure increases 1.
- Ethylene oxide restrictions could reduce a significant part of the Specialty Products segment if regulation expands 1.
- Shifting tariffs and Middle East tensions could raise input and transport costs, which could pressure margins in coming quarters 2.
What to watch
- Segment sales and operating earnings trendsQ4 2026
- 2026 capital expenditure guidance and execution of capacity projects2026
- Final EPA measures on ethylene oxide and compliance deadlines2027
- Full-year financial results and fiscal 2026 guidance in the next annual reportnext 10-K
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Balchem Corporation, incorporated in Maryland in 1967, develops, manufactures, distributes and markets specialty performance ingredients and products for nutritional, food, pharmaceutical, animal health, plant nutrition, sterilization, fumigation and industrial markets 1. Its activity is grouped into three reportable segments, Human Nutrition and Health, Animal Nutrition and Health and Specialty Products, while products outside them are included in 'Other and Unallocated' 1. The company sells through its own sales force, independent distributors and sales agents 1. At December 31, 2025 it held over 130 patents and over 400 registered trademarks in the United States and overseas 1. As of September 30, 2026 it employed approximately 1,430 full time employees worldwide 2.
Segments
Human Nutrition and Health
This segment supplies choline-based nutrients, mineral amino acid chelates, vitamin K2 and MSM, as well as ingredient systems for beverages, bakery, dairy and confectionery 1. Fiscal 2025 sales were 659.387 million USD, and in the third quarter of 2026 the segment reported record sales, up 8.1% from the prior year quarter 13.
Specialty Products
This segment repackages and distributes performance gases such as ethylene oxide, propylene oxide and ammonia, and sells chelated minerals to high value crop producers 1. Fiscal 2025 sales were 140.976 million USD, and plant nutrition sales are seasonal, concentrated in the first half of the year 1.
Trends
- EU anti-dumping duties on Chinese choline chloridetailwind
The European Commission imposed provisional and then definitive duties on imports of choline chloride from China after a complaint lodged by Balchem Italia, which could support the company's competitive position in Europe 1.
- Regulation of ethylene oxide in the United Statesheadwind
The EPA re-registered ethylene oxide in January 2025 with phase-out periods and monitoring measures affecting customers, which could reduce demand for this product if restrictions widen 1.
- Tariffs and trade policymixed
After a February 2026 Supreme Court ruling invalidated certain tariffs, new tariffs were imposed under other authorities, and the company says it does not expect a material effect on future results 2.
- Geopolitical tensions and costsheadwind
Conflicts in the Middle East may raise energy prices, certain raw material costs and freight costs, which could pressure margins if these effects persist 2.
Competitive position
Competition includes many large and small companies, some with greater financial and research resources, as well as numerous privately held ingredient and nutritional supplement companies, making it hard to gauge Balchem's relative rank 1. In animal and industrial markets competition is highly price driven, and in performance gases competitors are often regional and privately held 1.
- Privately held nutritional ingredient and supplement companies
Numerous private companies in nutrition and ingredients, not named in the source.
- Animal nutrition and health ingredient producers
Competitors in animal nutrition, some private, competing on performance, quality and price.
- Industrial companies in performance gases
Regional private competitors in performance gases, plus alternative technologies or substitute products.
- Chinese choline chloride producers
Imports from China were subject to EU anti-dumping duties, indicating competitive pressure from this source.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Quarterly report23 Oct 2026
- Current report23 Oct 2026Results of operations · Financial statements and exhibits
- Quarterly report31 Jul 2026
- Current report31 Jul 2026Results of operations · Financial statements and exhibits
- Current report27 Jul 2026Material agreement · Creation of a direct financial obligation · Financial statements and exhibits
- Current report22 Jun 2026Shareholder vote
- Quarterly report30 Apr 2026
- Current report30 Apr 2026Results of operations · Financial statements and exhibits
- Proxy statement27 Apr 2026
- Annual report20 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Balchem Corporation · 20 Feb 2026
- [2] Form 10-Q, quarter ended 2026-09-30 · SEC / Balchem Corporation · 23 Oct 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Balchem Corporation · 23 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.