olivLaw · US equity research
Compass Minerals International, Inc. CMP
Mining & Quarrying of Nonmetallic Minerals (No Fuels) · SIC 1400 · Vertical: Mining & Quarrying of Nonmetallic Minerals (No Fuels) (SIC 1400)
Compass Minerals is a global provider of essential minerals, mainly salt and plant nutrients (sulfate of potash, SOP), with operations in the United States, Canada and the United Kingdom. Salt accounts for most of the business in the current period, and the company is pursuing debt reduction and better cash flow through its back-to-basics strategy.
At the close of 04 Nov 2026, Compass Minerals International, Inc. (CMP) stock was 23.26 USD (+1.62% on the day), with market capitalisation 976.5 m USD, P/E 54.2 on diluted EPS of 0.43 USD over the last 12 months, dividend yield 1.29%, beta 0.83, 52-week range 16.54–33.51 USD. Latest reported quarter (Q3 2026): revenue of 215.3 m USD (+0.3% YoY), net income of -5.7 m USD, diluted EPS -0.13 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)
- 54.6
- neutral
- Bollinger (20, 2)
- 21.22 – 23.84
- in the upper half of the band · %B 0.78 · band width 11.6%
- SMA 50 / 200
- 23.31 / 25.94
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.05 / -0.27
- 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 | +2.6% | −1.1% | +3.7 pp | — |
| 3 months | −22.5% | −0.5% | −22.1 pp | — |
| 6 months | −12.1% | +4.4% | −16.5 pp | — |
| Year to date | +18.4% | +12.3% | +6.1 pp | — |
| 1 year | +37.6% | +13.5% | +24.0 pp | −13.2% |
| 3 years | −6.5% | +76.4% | −82.9 pp | +29.6% |
| 5 years | −67.9% | +63.7% | −131.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q3 2026 · 30 Jun 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 | 208.8 m | 307.2 m | 494.6 m | 214.6 m | 227.5 m | 396.1 m | 453.2 m | 215.3 m |
| Gross profit | 19.5 m | 34.3 m | 76.8 m | 41.2 m | 38.4 m | 63.2 m | 83.0 m | 37.9 m |
| SG&A | 31.3 m | 33.3 m | 29.6 m | 24.0 m | 26.4 m | 26.6 m | 27.0 m | 27.0 m |
| Operating income | -29.8 m | 500.0 k | -3.1 m | 15.9 m | 12.0 m | 36.6 m | 56.0 m | 10.9 m |
| Depreciation & amortisation | 26.6 m | 26.8 m | 26.5 m ≈ | 23.2 m ≈ | 26.7 m | 26.4 m | 28.2 m ≈ | 25.6 m ≈ |
| Interest expense | 19.1 m | 16.9 m | 18.0 m | 16.3 m | 17.3 m | 18.1 m | 17.9 m | 14.6 m |
| Pre-tax income | -50.8 m | -13.9 m | -22.2 m | -13.6 m | -4.0 m | 16.4 m | 28.7 m | 700.0 k |
| Income tax | -2.5 m | 9.7 m | 9.8 m | 3.4 m | 3.2 m | -2.2 m | 16.0 m | 6.4 m |
| Net income | -48.3 m | -23.6 m | -32.0 m | -17.0 m | -7.2 m | 18.6 m | 12.7 m | -5.7 m |
| Diluted EPS | -1.17 ≈ | -0.57 | -0.77 | -0.41 | -0.17 ≈ | 0.43 | 0.30 | -0.13 |
| Operating cash flow | -12.7 m | -4.1 m | 186.9 m ≈ | 21.8 m ≈ | -6.9 m | -37.0 m | 197.4 m ≈ | 2.4 m ≈ |
| Capex | 20.9 m | 21.8 m | 14.0 m ≈ | 18.0 m ≈ | 15.9 m | 22.8 m | 18.2 m ≈ | 21.1 m ≈ |
| Dividends paid | -100.0 k | 0 | 0 ≈ | 0 ≈ | 0 | — | — | — |
≈ 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 62 percentile of its own 21-quarter history (min 15.3, median 34.3, max 176.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.1 bn | 1.1 bn | 1.0 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.1 bn | 1.2 bn |
| Revenue YoY | −20.9% | +0.5% | −7.4% | +14.0% | +8.7% | −3.3% | −7.2% | +11.3% |
| Net income | 64.8 m | 60.8 m | 63.1 m | -185.7 m | -21.1 m | 10.5 m | -206.1 m | -79.8 m |
| Net income YoY | +51.8% | −6.2% | +3.8% | −394.3% | unavailable | unavailable | −2,062.9% | unavailable |
| Diluted EPS | 1.90 | 1.76 | 1.82 | -5.49 | -0.63 | 0.25 | -4.99 | unavailable |
| Diluted EPS YoY | +52.0% | −7.4% | +3.4% | −401.6% | unavailable | unavailable | −2,096.0% | unavailable |
| net % | 6.0% | 5.6% | 6.3% | -16.2% | -1.7% | 0.9% | -18.4% | -6.4% |
| Free cash flow | 85.5 m | 61.5 m | 90.3 m | 55.6 m | 23.8 m | -48.3 m | -99.8 m | 128.0 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 30 Sept 2025
- Cash
- 59.7 m USD
- Financial debt
- 832.2 m USD
- Net debt
- 772.5 m USD
- Equity
- 234.1 m USD
- Total assets
- 1.5 bn USD
- Debt / equity
- 3.55x
- Current ratio
- 2.15x
- ROE
- -29.0%
- ROA
- -5.1%
- FCF margin
- 10.3%
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 | 1.0 bn | 1.1 bn | 1.2 bn | 1.2 bn | 1.1 bn | 1.2 bn | SEC (XBRL)· 12 Dec 2025verified |
| Gross profit | 219.8 m | 228.5 m | 199.8 m | 232.0 m | 195.0 m | 190.7 m | SEC (XBRL)· 12 Dec 2025verified |
| SG&A | 116.8 m | 122.6 m | 133.5 m | 150.2 m | 137.8 m | 113.3 m | SEC (XBRL)· 12 Dec 2025verified |
| Operating income | 103.0 m | 105.9 m | 45.4 m | 77.4 m | -116.8 m | 25.3 m | SEC (XBRL)· 12 Dec 2025verified |
| Depreciation & amortisation | 137.9 m | 129.2 m | 112.8 m | 98.6 m | 105.0 m | 103.2 m | SEC (XBRL)· 12 Dec 2025verified |
| EBITDA | 240.9 m ≈ | 235.1 m ≈ | 158.2 m ≈ | 176.0 m ≈ | -11.8 m ≈ | 128.5 m ≈ | SEC (XBRL)· 12 Dec 2025derived |
| Interest expense | 62.7 m | 59.8 m | 55.2 m | 55.5 m | 69.5 m | 68.5 m | SEC (XBRL)· 12 Dec 2025verified |
| Pre-tax income | 44.5 m | 40.2 m | 200.0 k | 27.6 m | -188.2 m | -53.7 m | SEC (XBRL)· 12 Dec 2025verified |
| Income tax | 1.9 m | 5.5 m | 33.5 m | 17.1 m | 17.9 m | 26.1 m | SEC (XBRL)· 12 Dec 2025verified |
| Net income | 63.1 m | -185.7 m | -21.1 m | 10.5 m | -206.1 m | -79.8 m | SEC (XBRL)· 12 Dec 2025verified |
| Diluted EPS | 1.82 | -5.49 | -0.63 | 0.25 | -4.99 | — | SEC (XBRL)· 16 Dec 2024verified |
| Weighted average diluted shares | 33.9 m | 34.0 m | 34.1 m | 40.8 m | 41.3 m | 41.8 m | SEC (XBRL)· 12 Dec 2025verified |
| Dividend per share | 2.88 | — | 0.60 | 0.60 | 0.30 | — | SEC (XBRL)· 16 Dec 2024verified |
≈ 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 | 10.6 m | 18.1 m | 46.1 m | 38.7 m | 20.2 m | 59.7 m | SEC (XBRL)· 12 Dec 2025verified |
| Inventories | 298.7 m | 321.7 m | 313.3 m | 399.5 m | 414.1 m | 312.0 m | SEC (XBRL)· 12 Dec 2025verified |
| Current assets | 756.3 m | 531.4 m | 570.9 m | 600.9 m | 587.3 m | 572.2 m | SEC (XBRL)· 12 Dec 2025verified |
| Goodwill | 55.7 m | 57.8 m | 56.4 m | 88.8 m | 6.0 m | 6.0 m | SEC (XBRL)· 12 Dec 2025verified |
| Intangibles (excl. goodwill) | 49.9 m | 48.8 m | 45.4 m | 120.0 m | 82.5 m | 23.8 m | SEC (XBRL)· 12 Dec 2025verified |
| Total assets | 2.3 bn | 1.6 bn | 1.7 bn | 1.8 bn | 1.6 bn | 1.5 bn | SEC (XBRL)· 12 Dec 2025verified |
| Accounts payable | 82.6 m | 90.0 m | 114.7 m | 116.8 m | 82.1 m | 96.0 m | SEC (XBRL)· 12 Dec 2025verified |
| Short-term debt | 10.0 m | 0 | 0 | 5.0 m | 7.5 m | 0 | SEC (XBRL)· 12 Dec 2025verified |
| Long-term debt | 1.3 bn | 935.4 m | 947.6 m | 800.3 m | 910.0 m | 832.2 m | SEC (XBRL)· 12 Dec 2025verified |
| Current liabilities | 296.7 m | 195.4 m | 233.0 m | 274.6 m | 217.0 m | 265.6 m | SEC (XBRL)· 12 Dec 2025verified |
| Equity | 383.6 m † | 297.9 m † | 265.2 m † | 521.0 m † | 316.6 m † | 234.1 m † | SEC (XBRL)· 12 Dec 2025verified |
† 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 | 175.2 m | 141.4 m | 120.4 m | 106.0 m | 14.4 m | 197.7 m | SEC (XBRL)· 12 Dec 2025verified |
| Capex | 84.9 m | 85.8 m | 96.6 m | 154.3 m | 114.2 m | 69.7 m | SEC (XBRL)· 12 Dec 2025verified |
| Free cash flow | 90.3 m ≈ | 55.6 m ≈ | 23.8 m ≈ | -48.3 m ≈ | -99.8 m ≈ | 128.0 m ≈ | SEC (XBRL)· 12 Dec 2025derived |
| Investing cash flow | -88.2 m | 261.2 m | -79.9 m | -177.9 m | -116.1 m | -50.0 m | SEC (XBRL)· 12 Dec 2025verified |
| Financing cash flow | -96.2 m | -417.5 m | -14.3 m | 64.0 m | 83.1 m | -108.3 m | SEC (XBRL)· 12 Dec 2025verified |
| Dividends paid | 99.1 m | 98.0 m | 20.8 m | 24.9 m | 12.6 m | 0 | SEC (XBRL)· 12 Dec 2025verified |
≈ 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
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 49 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 976.5 m USD
Key indicators
Coverage and freshness
Score by group
- Balance sheet27
- Valuation64
- Quality70
- Growth0
- Returns40
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: 3.94 – 100.21 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)32.90 – 71.39 (Mid 46.39)WACC 7.5% · starting FCFF 134.9 m USD · terminal value share of EV 79%The WACC × g sensitivity gives the method's bounds; these are not probabilities.Reverse DCF: starting growth implied by the price (fading linearly to terminal growth, everything else fixed): -18.4%
- Peers: EV/EBITDA55.95 – 100.21 (Mid 80.27)7 companies used · median multiple 18.1x · quartiles 13.5x – 21.9xKNF, LEU, MLM, SND, TTAM, USLM, VMC
- Peers: P/E7.23 – 11.40 (Mid 10.29)9 companies used · median multiple 24.0x · quartiles 16.9x – 26.6xHL, IPI, KNF, MLM, SND, SQM, TTAM, USLM, VMC
- Dividend discount (DDM)3.94 – 5.30 (Mid 4.52)
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
Neutral profile · Score 49/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 10.1% | 73 (vs peers) | 11% |
| Net margin · Quality | 1.4% | 35 (vs peers) | 7% |
| FCF conversion · Quality | 423.4% | 100 (on a fixed band) | 7% |
| Revenue CAGR 3Y · Growth | -0.0% | 0 (on a fixed band) | 9% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 3.0x | 13 (vs peers) | 11% |
| Interest coverage · Balance sheet | 1.7x | 3 (on a fixed band) | 7% |
| Current ratio · Balance sheet | 2.0x | 100 (on a fixed band) | 5% |
| P/E (TTM) · Valuation | 54.2x | 0 (vs peers) | 11% |
| EV/EBITDA · Valuation | 7.4x | 100 (vs peers) | 11% |
| FCF yield · Valuation | 8.0% | 100 (on a fixed band) | 9% |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 7% |
| Payout ratio (FCF) · Returns | 0.0% | 100 (on a fixed band) | 5% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet27/100 · 3/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality70/100 · 3/3 factors with a value
- Returns40/100 · 2/2 factors with a value
- Valuation64/100 · 3/3 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
Compass Minerals International, Inc. (CMP). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 1.2 bn USD in 2025; YoY growth 11.3%; net margin 1.4%; ROE 7.2%; net debt/EBITDA 3.0x.
The estimated value range is 20.06–41.40 USD per share (median of 4 methods, agreement: low); assumptions are illustrative. Against the central value of 28.34 USD, the price of 23.26 USD leaves a potential of 21.9% (value / price − 1) and a margin of safety of 17.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 49/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 10.1%
- FCF conversion: 423.4%
- Current ratio: 2.0x
- EV/EBITDA: 7.4x
- FCF yield: 8.0%
- Payout ratio (FCF): 0.0%
What contradicts it
- Revenue CAGR 3Y: -0.0%
- Net debt / EBITDA: 3.0x
- Interest coverage: 1.7x
- P/E (TTM): 54.2x
- Shareholder yield (distributions): 0.0%
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y.
Versus the vertical median
Mining & Quarrying of Nonmetallic Minerals (No Fuels) (SIC 1400) · same industry (4-digit SIC) · compared with 18 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 | |
|---|---|---|---|---|---|---|
| MLMMartin Marietta Materials, Inc. | 39.6 bn | 14.7 | 16.8% | 31.9% | +8.6% | −11% / +20% |
| VMCVulcan Materials Company | 38.2 bn | 35.2 | 12.9% | 13.8% | +7.1% | +0% / +39% |
| SQMChemical & Mining Co Of Chile Inc | 15.1 bn | 24.0 | 14.3% | 15.1% | −39.4% | −11% / +15% |
| HLHecla Mining Company | 10.0 bn | 26.7 | 14.5% | 21.0% | +53.0% | −11% / +200% |
| IONRIoneer Ltd | 7.2 bn | — | -4.3% | — | unavailable | −44% / −35% |
| USLMUnited States Lime & Minerals Inc | 3.5 bn | 26.6 | 20.0% | 35.1% | +17.3% | +1% / +191% |
| KNFKnife River Corporation | 3.5 bn | 26.3 | 8.0% | 4.0% | +8.5% | −17% / +4% |
| TTAMTitan America SA | 2.6 bn | 14.2 | 20.8% | 11.1% | +1.8% | −12% / unavailable |
| UUUUEnergy Fuels Inc. | 1.9 bn | — | -14.1% | -100.0% | −15.6% | −50% / −10% |
| LEUCentrus Energy Corp | 1.3 bn | 42.2 | 8.1% | 10.2% | +1.5% | −64% / +85% |
| CMPCompass Minerals International, Inc. | 976.5 m | 54.2 | 7.2% | 1.4% | +11.3% | +38% / −6% |
| GAUGaliano Gold Inc. | 540.4 m | — | -12.7% | -6.5% | +93.6% | −14% / +220% |
| IPIIntrepid Potash, Inc. | 418.0 m | 17.1 | 4.8% | 8.0% | +17.1% | +24% / +52% |
| SNDSmart Sand, Inc. | 185.3 m | 16.9 | 4.4% | 2.7% | +6.0% | +48% / +124% |
| ABATAmerican Battery Technology Company | 183.9 m | — | -74.5% | -337.5% | +406.8% | −66% / −70% |
| ATLXAtlas Lithium Corporation | 52.1 m | — | -103.0% | -33,954.4% | −86.1% | −65% / −93% |
| LGOLargo Inc. | 27.7 m | — | -46.4% | -62.3% | −12.0% | −67% / −84% |
| ELVRElevra Lithium Limited | — | — | -54.2% | -131.8% | +11.2% | −40% / unavailable |
| TECKTeck Resources Limited | — | — | 5.5% | 13.0% | +18.7% | +50% / +71% |
1- and 3-year price returns: for CMP 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 | 13.41 Total return -42% · Per year -42% | 23.76 Total return 2% · Per year 2% | 35.86 Total return 54% · Per year 54% |
| 3 years | 11.85 Total return -49% · Per year -20% | 23.74 Total return 2% · Per year 1% | 39.51 Total return 70% · Per year 19% |
| 5 years | 10.48 Total return -55% · Per year -15% | 23.72 Total return 2% · Per year 0% | 43.53 Total return 87% · Per year 13% |
- Exit P/E± 5.94
- Net margin± 4.15
- Annual revenue growth± 3.57
- Annual dilution± 0.35
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
Compass Minerals is a global provider of essential minerals, mainly salt and plant nutrients (sulfate of potash, SOP), with operations in the United States, Canada and the United Kingdom. Salt accounts for most of the business in the current period, and the company is pursuing debt reduction and better cash flow through its back-to-basics strategy.
SWOT
Strengths
- Favorable mine locations and operational scale, including the Goderich underground mine, support competitiveness in salt distribution.
- The Plant Nutrition segment has strong positions, with sales to farmers and distributors in the US and a premium-priced product.
- Many multi-year contracts with public authorities and UK customers provide a partly predictable revenue base.
Weaknesses
- Mining production costs have stayed above plan, pressuring Salt segment margins.
- Deicing demand depends on weather, so results can fluctuate sharply from year to year.
- The company identified material weaknesses in internal control over financial reporting, which led to a restatement.
Opportunities
- Better pricing in highway deicing bids and an early constructive pricing environment in consumer and industrial salt could improve profitability.
- Conversion of some commodity potash uses to higher-yield SOP could support growth in Plant Nutrition.
- Lower debt and an improved credit rating could create room for more flexible investment.
Threats
- Mild winters can sharply reduce deicing salt demand and related revenue.
- Drought and changes in Great Salt Lake levels can affect SOP output at Ogden.
- Trade tariffs and import competition can affect sales and margins in some regions.
Risks
- Internal control weaknesseshigh
The company identified material weaknesses in internal control over financial reporting. If they are not remediated, reporting could be delayed or contain errors.
- Dependence on a few facilitieshigh
Two North American salt mines account for much of salt production capacity, and SOP is produced at only two locations. An interruption at one of them could seriously affect sales.
- Weather and Great Salt Lake conditionsmedium
Ogden SOP output depends on Great Salt Lake brine levels and hot, dry summer weather, and drought can reduce production.
- Capital intensitymedium
The business is capital intensive, and large projects may run over budget or be delayed, affecting growth and profitability.
- Energy and transport costsmedium
Energy prices and transport constraints could raise costs, particularly in logistics where distribution cost is significant.
Investment thesis
What would need to be true (bull case)
- If favorable highway deicing bid pricing holds, the Salt segment could recover margins and revenue could grow.
- Plant Nutrition showed clear gains in pricing and costs, and its guidance was raised, which could continue if the trend persists.
- Lower debt and a credit rating upgrade could reduce financial risk and give more strategic flexibility.
What would break the thesis
- Mining production costs remain above plan, and if operational improvement is delayed, Salt margins could stay under pressure.
- Deicing demand could fall if winters are milder, and the company already expects lower demand in the following year.
- Internal control weaknesses and dependence on a few facilities could bring extra costs or operational interruptions.
What to watch
- Quarterly results and Adjusted EBITDA guidance for fiscal 2026Q4 2026
- Mining production costs and results of operational improvement programs2027
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
Compass Minerals International, Inc. through its subsidiaries produces and sells salt and plant nutrients, with production sites in the United States, Canada and the United Kingdom 1. The back-to-basics strategy aims to improve cash flow and returns on capital in the core segments through cost control, debt reduction, balancing inventory volumes and flexibility in capital spending 1. In fiscal 2025 the company exited the Fortress fire retardant business and did not declare dividends 1.
Market context
Highway deicing rock salt consumption in North America, including chemical use, is estimated at about 39 million tons a year under average winter conditions 1. Worldwide potash fertilizer consumption is about 81 million tons a year, and SOP accounts for roughly 9% of potash production 1. US salt prices have increased at a long-term average of about 3% to 4% a year 1.
Long-term demand for SOP could grow as arable land per person declines and growers shift to higher-yield crops 1. In the short term, the commodity potash market has been under pressure from weaker grower incomes 1.
Trends
- Winter weather and deicing demandmixed
Demand for deicing salt depends on the number and intensity of snow events, and a mild winter can reduce sales 1. The company expects demand in fiscal 2027 to be lower than in fiscal 2026, after a strong winter 2.
- High production costsheadwind
Mining production costs could stay elevated in the near term due to maintenance investment and labor costs 23. Inflationary pressure and fuel price volatility also affect logistics 2.
- Debt reductiontailwind
Total and net debt fell significantly after the 2025 refinancing and the redemption of the 2027 notes 3. Lower debt could reduce interest burden in coming periods.
Competitive position
In North America the company competes with other large, nationally and internationally recognized producers, as well as several smaller regional salt producers 1. Salt is a commodity, which limits product differentiation, and barriers to entry are low in consumer and industrial markets 1.
The company's advantage rests on favorable locations, the scale of the Goderich mine and its distribution network, which matters because transport is a large share of delivered salt cost 1. The UK highway deicing market has only two competitors 1.
- National and international salt producers
Large, nationally and internationally recognized companies that compete with the Salt segment in North America, not named in the source.
- Regional salt producers in North America
Several smaller regional producers selling salt in parts of the continent.
- Salt importers into North America
Importers mainly affect the East Coast and West Coast, where the company has minimal presence.
- UK highway deicing salt suppliers
Two suppliers, one in northern England and one in Northern Ireland, serve the UK deicing market.
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
- Șase corporații gigant din țările nordice vor colabora în domeniul apărării / Ericsson, Kongsberg, Nokia, Terma, Patria și Saab și-au prezentat planurile la Göteborg, la reuniunea Nordic CompassG4Media · 05 Nov 2026 · RO
- Speaking in a second language may shift your moral compass—but it can't overpower itPhys.org · 04 Nov 2026 · EN
- Speaking in a second language may shift your moral compass – but it can’t overpower itThe Conversation — Europe · 04 Nov 2026 · EN
- New national home listing database is taking on Compass in the battle for control of real estate informationCNBC — Top News · 03 Nov 2026 · EN
- Japan’s Economic Diplomacy: A Compass in a Divided WorldThe Diplomat (Asia geopolitics) · 01 Nov 2026 · EN
- Small molecular twists may strengthen nature's magnetic compassPhys.org · 30 Oct 2026 · EN
- COMPASS pathway enables regulatory T cells to prevent devastating autoimmune responses to gut bacteriaMedical Xpress · 29 Oct 2026 · EN
- Ukraine finds Russia’s Geran drones fitted with a compass that works through GPS jamming, but Western electronics still at their coreEuromaidan Press (UA, EN) · 29 Oct 2026 · EN
- battledrones v14: Compass Rose, a four player mapSimon Willison Blog · 24 Oct 2026 · EN
- MerchantPro Compass: Primul trimestru cu dubla taxare a coletelor non-UE aduce +13% comenzi pe magazinele online locale. Fashion trece de la stagnare la +17%Mediafax · 20 Oct 2026 · RO
- ► Terma joins Nordic Compass Defence Track to strengthen Nordic Defence industrial cooperationEuropean Defence Review · 20 Oct 2026 · RO
- Compass Files Suit Over California Home Listing Service RulesBloomberg Markets · 16 Oct 2026 · EN
- Compass Pathways CEO: Psychedelics company will ‘go slow before we go fast’STAT News · 15 Oct 2026 · EN
- Netanyahu accuses Nobel Committee of losing 'moral compass' after Peace PrizeTASS (RU, EN) · 09 Oct 2026 · EN
- Hacker Conversations: Rob Juncker, a Knock at the Door and a Moral CompassSecurityWeek · 01 Oct 2026 · EN
- Neeyamo Global Payroll Compliance AI Enters Its Third Generation with Multi - Agent CompassSurge — GDELT DOC · 30 Sept 2026 · RO
- Pigeons' proposed inner-ear compass runs into a noise problemPhys.org · 23 Sept 2026 · EN
- Bikies, ‘moral compass malfunctions’ and corruption cost: Victoria’s Big Build royal commission holds first public hearingThe Guardian World · 23 Sept 2026 · EN
- How a dissident poet became Ukraine’s moral compassKyiv Independent (UA, EN) · 18 Sept 2026 · EN
- Compass CEO Warns Housing Market Is Splitting Apart as 42% of Homes See Price Cuts, Highest in Nearly a Decade: 'There's Not One Market'Yahoo Finance — News · 13 Sept 2026 · EN
SEC filings
- Current report28 Oct 2026Departure or appointment of officers · Financial statements and exhibits
- Current report15 Oct 2026Departure or appointment of officers · Other events
- Quarterly report06 Aug 2026
- Current report05 Aug 2026Departure or appointment of officers · Financial statements and exhibits
- Current report05 Aug 2026Results of operations · Financial statements and exhibits
- Quarterly report07 May 2026
- Current report06 May 2026Results of operations · Financial statements and exhibits
- Current report24 Mar 2026Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report10 Mar 2026Shareholder vote
- Quarterly report06 Feb 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-09-30 · SEC / Compass Minerals International, Inc. · 12 Dec 2025
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Compass Minerals International, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Compass Minerals International, Inc. · 05 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.