FMC Corp (FMC) is undervalued and Mosaic Company (MOS) is overvalued.
Against our estimates of intrinsic value, FMC trades at the wider discount: a margin of safety of +59%, against -66% for MOS.
Values as of the 22 Sept 2026 close.
Its through-the-cycle earnings (15.3% median margin), capitalised at 6.2% with no growth, values the shares at $25.73; the price of $10.57 is 59% below that value.
Leak Score 45/100 on 8 of 12 signals
Discounting its cash flows at 7.8% (average of 2 methods) values the shares at $14.93; the price of $24.73 is 66% above that value, and 80% of that value comes from beyond year five.
Leak Score 0/100 on 2 of 12 signals
| Metric | FMC | MOS |
|---|---|---|
| Verdict | Undervalued | Overvalued |
| Price | $10.57 | $24.73 |
| Intrinsic value | $25.73 | $14.93 |
| Margin of safety | +59% | -66% |
| Leak Score | 45/100 (8/12) | 0/100 (2/12) |
| Market cap | $1.3B | $7.9B |
| Revenue growth, 5 years | -5.7% | 6.8% |
| Operating margin | -1.9% | 6.8% |
| Net margin | -84.9% | -5.2% |
| Return on equity | -89.3% | -5.3% |
| Debt to equity | 2.69 | 0.53 |
| Forward P/E | 6.4x | 16.9x |
| P/B | 0.8x | 0.7x |
| Dividend yield | 3.4% | 3.5% |