Balchem (BCPC)
Market Price (5/30/2026): $156.83 | Market Cap: $5.0 BilSector: Materials | Industry: Specialty Chemicals
Balchem (BCPC)
Market Price (5/30/2026): $156.83Market Cap: $5.0 BilSector: MaterialsIndustry: Specialty Chemicals
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% Low stock price volatilityVol 12M is 21% Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Advanced Materials. Themes include Nutritional Supplements, Functional Foods & Beverages, Show more. | Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -57% | Key risksBCPC key risks include [1] a premium valuation facing significant downside if growth disappoints amid recent slowing momentum and [2] margin pressure from sustained tariffs on key products like choline chloride. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 21%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Low stock price volatilityVol 12M is 21% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Advanced Materials. Themes include Nutritional Supplements, Functional Foods & Beverages, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -42%, 3Y Excs Rtn is -57% |
| Key risksBCPC key risks include [1] a premium valuation facing significant downside if growth disappoints amid recent slowing momentum and [2] margin pressure from sustained tariffs on key products like choline chloride. |
Qualitative Assessment
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Updated on 5/1/2026
Balchem (BCPC) stock has lost about 10% since 1/31/2026 because of the following key factors:
1. Profit-taking despite strong Q1 2026 earnings beat.
Balchem reported robust first-quarter 2026 results on April 30, 2026, surpassing analyst expectations with adjusted earnings per share of $1.33 (vs. $1.25 consensus) and revenue of $270.7 million (vs. $265.8 million projected). Despite this performance, which included an 8.1% year-over-year increase in net sales and a 12.1% rise in adjusted EBITDA, shares experienced a premarket decline of 2% to $169.87, which analysts attributed to profit-taking after the stock had approached its 52-week high of $183.90. This suggests investors opted to realize gains rather than push the stock higher immediately after the positive news.
2. Anticipated margin compression due to input cost inflation.
Management indicated a likelihood of "modest margin compression" in the near future. This is primarily due to a timing lag between rising input costs (raw materials and freight, exacerbated by geopolitical conflicts) and the company's ability to adjust pricing, particularly impacting the Animal Nutrition & Health segment. This forward-looking concern about profitability could have dampened investor sentiment despite the Q1 gross margin expansion of 210 basis points to 37.3%.
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Balchem (BCPC) stock has lost about 10% since 1/31/2026 because of the following key factors:
1. Profit-taking despite strong Q1 2026 earnings beat.
Balchem reported robust first-quarter 2026 results on April 30, 2026, surpassing analyst expectations with adjusted earnings per share of $1.33 (vs. $1.25 consensus) and revenue of $270.7 million (vs. $265.8 million projected). Despite this performance, which included an 8.1% year-over-year increase in net sales and a 12.1% rise in adjusted EBITDA, shares experienced a premarket decline of 2% to $169.87, which analysts attributed to profit-taking after the stock had approached its 52-week high of $183.90. This suggests investors opted to realize gains rather than push the stock higher immediately after the positive news.
2. Anticipated margin compression due to input cost inflation.
Management indicated a likelihood of "modest margin compression" in the near future. This is primarily due to a timing lag between rising input costs (raw materials and freight, exacerbated by geopolitical conflicts) and the company's ability to adjust pricing, particularly impacting the Animal Nutrition & Health segment. This forward-looking concern about profitability could have dampened investor sentiment despite the Q1 gross margin expansion of 210 basis points to 37.3%.
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Stock Movement Drivers
Fundamental Drivers
The -7.9% change in BCPC stock from 1/31/2026 to 5/29/2026 was primarily driven by a -14.0% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 170.17 | 156.73 | -7.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,014 | 1,057 | 4.3% |
| Net Income Margin (%) | 14.7% | 15.0% | 1.6% |
| P/E Multiple | 36.8 | 31.7 | -14.0% |
| Shares Outstanding (Mil) | 32 | 32 | 1.0% |
| Cumulative Contribution | -7.9% |
Market Drivers
1/31/2026 to 5/29/2026| Return | Correlation | |
|---|---|---|
| BCPC | -7.9% | |
| Market (SPY) | 9.6% | 8.7% |
| Sector (XLB) | 4.3% | 33.3% |
Fundamental Drivers
The 2.2% change in BCPC stock from 10/31/2025 to 5/29/2026 was primarily driven by a 4.3% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 10312025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 153.39 | 156.73 | 2.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,014 | 1,057 | 4.3% |
| Net Income Margin (%) | 14.7% | 15.0% | 1.6% |
| P/E Multiple | 33.2 | 31.7 | -4.5% |
| Shares Outstanding (Mil) | 32 | 32 | 1.0% |
| Cumulative Contribution | 2.2% |
Market Drivers
10/31/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| BCPC | 2.2% | |
| Market (SPY) | 11.5% | 16.0% |
| Sector (XLB) | 20.6% | 42.9% |
Fundamental Drivers
The 0.1% change in BCPC stock from 4/30/2025 to 5/29/2026 was primarily driven by a 9.6% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 4302025 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 156.55 | 156.73 | 0.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 965 | 1,057 | 9.6% |
| Net Income Margin (%) | 14.2% | 15.0% | 5.6% |
| P/E Multiple | 37.2 | 31.7 | -14.9% |
| Shares Outstanding (Mil) | 32 | 32 | 1.6% |
| Cumulative Contribution | 0.1% |
Market Drivers
4/30/2025 to 5/29/2026| Return | Correlation | |
|---|---|---|
| BCPC | 0.1% | |
| Market (SPY) | 38.0% | 19.2% |
| Sector (XLB) | 24.3% | 42.0% |
Fundamental Drivers
The 19.3% change in BCPC stock from 4/30/2023 to 5/29/2026 was primarily driven by a 42.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302023 | 5292026 | Change |
|---|---|---|---|
| Stock Price ($) | 131.40 | 156.73 | 19.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 946 | 1,057 | 11.8% |
| Net Income Margin (%) | 10.5% | 15.0% | 42.7% |
| P/E Multiple | 42.5 | 31.7 | -25.5% |
| Shares Outstanding (Mil) | 32 | 32 | 0.4% |
| Cumulative Contribution | 19.3% |
Market Drivers
4/30/2023 to 5/29/2026| Return | Correlation | |
|---|---|---|
| BCPC | 19.3% | |
| Market (SPY) | 89.0% | 43.3% |
| Sector (XLB) | 34.7% | 53.9% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| BCPC Return | 46% | -28% | 22% | 10% | -6% | 4% | 39% |
| Peers Return | 27% | -20% | 6% | -11% | 20% | 9% | 26% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| BCPC Win Rate | 92% | 42% | 50% | 42% | 42% | 40% | |
| Peers Win Rate | 63% | 42% | 50% | 43% | 52% | 60% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 60% | |
Max Drawdowns [4] | |||||||
| BCPC Max Drawdown | -19% | -33% | -19% | -12% | -20% | -13% | |
| Peers Max Drawdown | -18% | -43% | -30% | -27% | -31% | -23% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: IFF, DD, ADM, ZTS, ELAN. See BCPC Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 5/29/2026 (YTD)
How Low Can It Go
| Event | BCPC | S&P 500 |
|---|---|---|
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -11.1% | -9.5% |
| % Gain to Breakeven | 12.5% | 10.5% |
| Time to Breakeven | 40 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -10.6% | -6.7% |
| % Gain to Breakeven | 11.8% | 7.1% |
| Time to Breakeven | 82 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.0% | -24.5% |
| % Gain to Breakeven | 47.0% | 32.4% |
| Time to Breakeven | 760 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.0% | -33.7% |
| % Gain to Breakeven | 37.0% | 50.9% |
| Time to Breakeven | 272 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.5% | -19.2% |
| % Gain to Breakeven | 48.1% | 23.8% |
| Time to Breakeven | 400 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -10.7% | -3.7% |
| % Gain to Breakeven | 11.9% | 3.9% |
| Time to Breakeven | 3 days | 6 days |
In The Past
Balchem's stock fell -8.1% during the 2025 US Tariff Shock. Such a loss loss requires a 8.8% gain to breakeven.
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Asset Allocation
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| Event | BCPC | S&P 500 |
|---|---|---|
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -32.0% | -24.5% |
| % Gain to Breakeven | 47.0% | 32.4% |
| Time to Breakeven | 760 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -27.0% | -33.7% |
| % Gain to Breakeven | 37.0% | 50.9% |
| Time to Breakeven | 272 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -32.5% | -19.2% |
| % Gain to Breakeven | 48.1% | 23.8% |
| Time to Breakeven | 400 days | 105 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -23.3% | -17.9% |
| % Gain to Breakeven | 30.4% | 21.8% |
| Time to Breakeven | 573 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -21.2% | -53.4% |
| % Gain to Breakeven | 27.0% | 114.4% |
| Time to Breakeven | 17 days | 1085 days |
In The Past
Balchem's stock fell -8.1% during the 2025 US Tariff Shock. Such a loss loss requires a 8.8% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Balchem (BCPC)
Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets in the United States and internationally. It operates through three segments: Human Nutrition & Health, Animal Nutrition & Health, and Specialty Products. The Human Nutrition & Health segment supplies ingredients in the food and beverage industry. Its products include spray dried and emulsified powders, extrusion and agglomeration, blended lipid systems, liquid flavor delivery systems, juice and dairy bases, chocolate systems, and cereal systems, as well as ice cream bases and variegates. This segment also offers microencapsulation solutions for various applications; and human grade choline nutrients and mineral amino acid chelated products for nutrition and health applications. The Animal Nutrition & Health segment provides microencapsulated products to enhance health and milk production, and delivering nutrient supplements in ruminant animals; chelation technology, which offers enhanced nutrient absorption for various species of production and companion animals; and choline chloride, a nutrient for monogastric animal health. The Specialty Products segment offers ethylene oxide primarily for use in the health care industry; and single use canisters with ethylene oxide for sterilizing re-usable devices. This segment also markets and sells propylene oxide, a fumigant to aid in the control of insects and microbiological spoilage, as well as to reduce bacterial and mold contamination in shell and processed nut meats, processed spices, cacao beans, cocoa powder, raisins, figs, and prunes; and chelated minerals for high value crops. The company sells its products through sales force, independent distributors, and sales agents. Balchem Corporation was incorporated in 1967 and is headquartered in New Hampton, New York.
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- Think of them as a highly specialized Firmenich DSM (formerly DSM), providing advanced nutritional ingredients and delivery systems for human and animal health, but also supplying critical chemicals for medical sterilization.
- They are like the Intel Inside for nutrition, food, and health products, supplying specialized, high-tech ingredients that boost performance, alongside essential chemicals for medical device sterilization.
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- Human Nutrition & Health Ingredients: Supplies specialty ingredients and systems for the food and beverage industry, including powders, flavor systems, and bases.
- Human Microencapsulation Solutions: Provides advanced microencapsulation technologies for various human nutrition and health applications.
- Human Choline Nutrients & Chelated Minerals: Offers human-grade choline nutrients and mineral amino acid chelated products for health and nutrition.
- Animal Nutrient Supplements: Provides microencapsulated products, chelation technology, and choline chloride to enhance animal health and nutrient absorption.
- Ethylene Oxide: Used primarily for medical device sterilization in the healthcare industry and for sterilizing re-usable devices.
- Propylene Oxide: Functions as a fumigant to control insects and reduce microbiological spoilage in various food products.
- Plant Chelated Minerals: Offers chelated mineral products specifically designed for high-value crop nutrition.
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Balchem (BCPC) primarily sells its specialty performance ingredients and products to other companies (B2B) across various industries. The provided background description details the industries and types of businesses that utilize Balchem's products, rather than listing specific names of major customer companies, nor their public symbols.
Based on the description, Balchem's customer base consists of companies operating within the following sectors:
- Food and Beverage Manufacturers: These companies utilize Balchem's ingredients for human nutrition and health applications, including flavor delivery systems, juice and dairy bases, chocolate systems, cereal systems, and ice cream bases and variegates.
- Nutraceutical and Pharmaceutical Companies: Customers in this category incorporate Balchem's microencapsulation solutions, human grade choline nutrients, and mineral amino acid chelated products into their nutrition and health applications.
- Animal Feed and Pet Food Manufacturers: Balchem provides microencapsulated products, chelation technology for enhanced nutrient absorption, and choline chloride to companies producing feed and supplements for ruminant, monogastric, and companion animals.
- Medical Device and Healthcare Industry: This includes medical device manufacturers, contract sterilization service providers, and healthcare facilities that use Balchem's ethylene oxide for sterilizing devices.
- Agricultural and Specific Food Processors: Customers include companies involved in plant nutrition (utilizing chelated minerals for high-value crops) and processors of specific food items such as shell and processed nut meats, processed spices, cacao beans, cocoa powder, raisins, figs, and prunes, which use propylene oxide as a fumigant.
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Theodore L. Harris, Chairman of the Board, President, and Chief Executive Officer
Mr. Harris joined Balchem as President and Chief Executive Officer in April 2015, assuming the role of Chairman in January 2017. Prior to his tenure at Balchem, he served as President of Ashland Performance Materials and Senior Vice President of Ashland Global Holdings Inc. (NYSE: ASH). He also held various leadership positions, including General Manager of the Food Ingredients Division, at FMC Corporation (NYSE: FMC). His experience includes developing and executing strategic initiatives, such as acquisitions and joint ventures, and managing global supply chain responsibilities. Mr. Harris holds a bachelor's degree in chemical engineering from Lehigh University and an MBA from the Harvard Graduate School of Business Administration. He is also an independent director on the Board of Directors of Pentair plc (NYSE: PNR).
C. Martin Bengtsson, Executive Vice President, Chief Financial Officer, and General Manager of Animal Nutrition & Health
Mr. Bengtsson was appointed Chief Financial Officer of Balchem in February 2019. He joined the company after a 15-year career at Honeywell, Inc., where he advanced through various finance, accounting, and audit roles, including Vice President, Finance – Group Corporate Audit; Vice President, Global Controller – Performance Materials & Technologies; and CFO, Performance Materials & Technologies. He earned a Bachelor of Arts degree in Economics from Northwestern University and began his career as a Senior Auditor for Deloitte. In March 2024, his responsibilities were expanded to include leading the Animal Nutrition and Health segment.
Frederic Boned, Senior Vice President and General Manager of Human Nutrition & Health
Mr. Boned serves as the Senior Vice President and General Manager for Balchem's Human Nutrition & Health segment.
Jonathan H. Griffin, Senior Vice President, Corporate Development
Mr. Griffin is the Senior Vice President of Corporate Development. In this role, he collaborates with business segment and functional leaders to evaluate and manage business opportunities, including potential acquisitions, mergers, joint ventures, and partnerships. He previously held the position of Senior Vice President and General Manager of Animal Nutrition and Health.
Hatsuki Miyata, J.D., Executive Vice President, Chief Legal Officer, and Secretary
Ms. Miyata serves as Balchem's Executive Vice President, Chief Legal Officer, and Secretary.
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```htmlHere are the key risks to Balchem's business:
- Regulatory and Environmental Scrutiny of Specialty Chemicals: Balchem faces significant risks related to its Specialty Products segment, particularly concerning ethylene oxide (EtO) and propylene oxide. Ethylene oxide, used for medical device sterilization and as a fumigant, is classified as a carcinogen and is subject to stringent and evolving environmental, health, and safety regulations from bodies like the U.S. Environmental Protection Agency (EPA) and the Food and Drug Administration (FDA). Stricter emission limits, operational restrictions, and increased public concern over EtO emissions can lead to higher compliance costs, potential facility shutdowns, and the need for costly control technologies. Balchem is identified as a supplier of EtO for sterilization in the U.S., making it directly exposed to these challenges.
- Global Supply Chain Disruptions and Raw Material Price Volatility: The company's operations across all segments are vulnerable to global supply chain disruptions, geopolitical risks, and fluctuations in the cost and availability of raw materials. Balchem uses various petrochemicals, minerals, metals, and agricultural products as inputs for its specialty ingredients and chemicals. Global geopolitical tensions, trade restrictions, tariffs, and political instability can lead to increased raw material costs and interruptions in the supply chain, directly impacting the company's manufacturing costs, profitability, and ability to deliver products.
- Intense Competition and the Need for Continuous Innovation: Balchem operates in highly competitive and often price-sensitive markets for human nutrition and health, animal nutrition and health, and specialty industrial products. The company faces competition from a diverse range of players, some of whom may possess greater financial, research and development, or production resources. To maintain and grow its market share, Balchem must continuously invest in research and development to innovate new products, improve existing ones, and differentiate its offerings based on performance, quality, customer support, and service. Failure to keep pace with scientific advancements, changing consumer preferences, or new competitive offerings could erode market position and profitability.
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Balchem Corporation (BCPC) operates in diverse markets, with its main products and services addressing significant addressable markets globally and regionally.
Human Nutrition & Health Segment
- Nutritional Ingredients: The global nutritional ingredients market was valued at approximately USD 182.5 billion in 2022 and is projected to reach USD 325.4 billion by 2031. North America held a 41.5% market share in 2025. Another estimate places the global market at US$52.8 billion in 2025, expanding to US$89.3 billion by 2032.
- Functional Food Ingredients: The global market for functional food ingredients was estimated at USD 121.45 billion in 2025. North America accounted for over 40% of this global revenue, with a market size of USD 44.94 billion in 2025.
- Choline Nutrients (Human Nutrition): The global choline supplement market was valued at USD 612 million in 2024 and is expected to grow to USD 1.48 billion by 2035. North America is the leading region in this market. The choline bitartrate market, a form of choline, is estimated at USD 478.86 million in 2025.
- Microencapsulation Solutions: The global microencapsulation market is projected to reach USD 30.6 billion by 2034. Specifically, the food and nutritional products segment of this market is estimated to reach USD 7.3 billion in 2025. In 2024, the North American microencapsulation market was valued at USD 4.9 billion.
Animal Nutrition & Health Segment
- Animal Nutrition & Health Products: The global animal nutrition market was valued at USD 23.12 billion in 2023 and is expected to grow to USD 39.13 billion by 2031. Another source estimates the global market at USD 26.89 billion in 2025, predicted to increase to USD 52.20 billion by 2035.
- Choline Chloride (Animal Feed): The global choline chloride market size was USD 546 million in 2023 and is estimated to reach USD 1.05 billion by 2032. Other reports indicate the market was USD 1.43 billion in 2024 and is projected to reach USD 3.02 billion by 2034. The U.S. choline chloride market alone was valued at USD 131.9 million in 2023. Animal feed applications accounted for the largest share of the choline chloride market, around 32% in 2023. North America is identified as the largest market for choline chloride.
- Chelated Minerals (Animal Nutrition): North America holds approximately 40% of the global market share for chelated minerals, which includes applications in animal nutrition.
Specialty Products Segment
- Ethylene Oxide (Medical Device Sterilization): The global ethylene oxide sterilization services market was valued at USD 4.4 billion in 2022 and USD 4.8 billion in 2023, with projections to reach USD 9.9 billion by 2030. Another estimate places the global market at USD 4.7 billion in 2023, expected to grow to USD 10.55 billion by 2032. North America dominated this market, holding a 35.5% share in 2022 and 34% in 2023.
- Propylene Oxide (Fumigant and Industrial): The global propylene oxide market size was valued at USD 26.44 billion in 2024 and is projected to reach USD 38.54 billion by 2032. Another source indicates a global market size of USD 23.53 billion in 2023, expected to reach USD 45.21 billion by 2033. In 2025, Asia Pacific held the dominant share of 46.33% of the global propylene oxide market. North America also held a significant share, accounting for around 40% of the global revenue in 2024.
- Chelated Minerals for High-Value Crops (Plant Nutrition): The global agricultural chelates market was estimated at USD 921.67 million in 2023 and is projected to reach USD 1.32 billion by 2030. Another report states the market was valued at USD 1.03 billion in 2025 and is expected to reach USD 1.56 billion by 2034. North America dominated this market with a 36% market share in 2024 and a 49.7% share in 2022.
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Expected Drivers of Future Revenue Growth for Balchem (BCPC)
- Continued Growth in Human Nutrition & Health Segment: Balchem anticipates sustained revenue growth from its Human Nutrition & Health segment, primarily fueled by strong demand for its portfolio of minerals, vitamins, and nutrients, as well as food ingredients and solutions. This growth is significantly aligned with the favorable "better for you" consumer trends.
- Expansion of Proprietary Microencapsulation and Chelation Technologies: The company expects to drive revenue growth through the further application and expansion of its differentiated microencapsulation and chelation technologies. These proprietary technologies enable the creation of high-value, specialized products across both Human and Animal Nutrition & Health segments, and Balchem is actively increasing its microencapsulation capacity.
- New Product Innovation and Launches: Balchem is focused on new product introductions and innovation across its segments. Specific examples include the launch of AminoShore XL and the expansion of the Vidacoline and K2 Delta Fermented product lines, particularly within the Animal Nutrition & Health segment, which are expected to contribute to future sales.
- International Market Expansion: A significant driver of future revenue growth is Balchem's successful globalization strategy and continued expansion into international markets. Over half of the company's sales growth in 2025 originated from outside the United States, indicating a strong momentum for further global market penetration.
- Sustained Demand in Performance Gases Business: Within the Specialty Products segment, healthy demand in the performance gases business is anticipated to contribute to another year of growth. This specific area is a distinct and consistent contributor to the company's overall revenue.
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<h3>Capital Allocation Decisions (Last 3-5 Years)</h3> <h4>Share Repurchases</h4> <ul> <li>In December 2025, Balchem's Board of Directors approved a new stock repurchase program authorizing the repurchase of up to 4 million shares, replacing a previous program.</li> <li>Balchem repurchased approximately 685,000 shares in 2025 at an average cost of $158 per share, totaling around $108.23 million.</li> <li>The company completed a long-running share repurchase program dating back to 1999, having bought back over 3.3 million shares, as highlighted in May 2025.</li> </ul> <h4>Share Issuance</h4> <ul> <li>For the three months ended March 31, 2023, approximately $3.642 million (3,642 thousand) in shares and options were issued under stock plans.</li> </ul> <h4>Outbound Investments</h4> <ul> <li>Balchem acquired Bergstrom Nutrition, a provider of science-backed nutrition solutions, in August 2022.</li> <li>Cash paid for acquisitions, net of cash acquired, was $24.164 million in 2024 and $323 thousand in 2025.</li> </ul> <h4>Capital Expenditures</h4> <ul> <li>Capital expenditures were approximately $43.193 million in 2025, $35.148 million in 2024, $37.274 million in 2023, and $36.142 million in 2021.</li> <li>Balchem is investing approximately $36 million in a new microencapsulation manufacturing facility in Orange County, New York, expected to more than double capacity and be operational by early 2027.</li> <li>The primary focus of capital expenditures includes expanding capacity in key product lines, implementing efficiency projects in the Human Nutrition & Health and Animal Nutrition & Health segments, and upgrading equipment to improve process reliability.</li> </ul>Latest Trefis Analyses
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 76.87 |
| Mkt Cap | 19.7 |
| Rev LTM | 7,824 |
| Op Inc LTM | 755 |
| FCF LTM | 356 |
| FCF 3Y Avg | 484 |
| CFO LTM | 778 |
| CFO 3Y Avg | 904 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 1.6% |
| Rev Chg 3Y Avg | -0.3% |
| Rev Chg Q | 3.6% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Inc Chg LTM | 3.5% |
| Op Inc Chg 3Y Avg | -0.9% |
| Op Mgn LTM | 9.3% |
| Op Mgn 3Y Avg | 9.0% |
| QoQ Delta Op Mgn LTM | 0.1% |
| CFO/Rev LTM | 10.4% |
| CFO/Rev 3Y Avg | 10.8% |
| FCF/Rev LTM | 6.2% |
| FCF/Rev 3Y Avg | 6.4% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 19.7 |
| P/S | 2.8 |
| P/Op Inc | 25.1 |
| P/EBIT | 21.6 |
| P/E | 17.6 |
| P/CFO | 20.2 |
| Total Yield | 3.9% |
| Dividend Yield | 1.7% |
| FCF Yield 3Y Avg | 3.2% |
| D/E | 0.3 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 8.5% |
| 3M Rtn | -8.3% |
| 6M Rtn | 6.6% |
| 12M Rtn | 36.3% |
| 3Y Rtn | 24.6% |
| 1M Excs Rtn | 2.3% |
| 3M Excs Rtn | -18.5% |
| 6M Excs Rtn | -5.5% |
| 12M Excs Rtn | 8.2% |
| 3Y Excs Rtn | -61.1% |
Comparison Analyses
Price Behavior
Price Behavior
| Market Price | $156.73 | |
| Market Cap ($ Bil) | 5.0 | |
| First Trading Date | 06/03/1986 | |
| Distance from 52W High | -14.5% | |
| 50 Days | 200 Days | |
| DMA Price | $167.12 | $161.81 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -6.2% | -3.1% |
| 3M | 1YR | |
| Volatility | 22.1% | 21.1% |
| Downside Capture | 63.43 | 33.03 |
| Upside Capture | -14.10 | 15.86 |
| Correlation (SPY) | 16.7% | 15.6% |
BCPC Betas & Captures as of 4/30/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.59 | 0.40 | 0.22 | 0.34 | 0.37 | 0.67 |
| Up Beta | 0.33 | 0.27 | 0.17 | 0.25 | 0.53 | 0.69 |
| Down Beta | 1.34 | 0.55 | 0.75 | 0.80 | 0.24 | 0.58 |
| Up Capture | 22% | 22% | 16% | 32% | 26% | 38% |
| Bmk +ve Days | 15 | 22 | 31 | 66 | 141 | 428 |
| Stock +ve Days | 9 | 17 | 28 | 53 | 114 | 364 |
| Down Capture | 33% | 58% | 1% | 8% | 38% | 90% |
| Bmk -ve Days | 4 | 18 | 30 | 56 | 108 | 321 |
| Stock -ve Days | 13 | 26 | 36 | 72 | 138 | 389 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCPC | |
|---|---|---|---|---|
| BCPC | -5.7% | 21.1% | -0.37 | - |
| Sector ETF (XLB) | 21.4% | 16.7% | 0.98 | 40.0% |
| Equity (SPY) | 30.3% | 11.8% | 1.94 | 15.5% |
| Gold (GLD) | 37.5% | 26.7% | 1.17 | 4.1% |
| Commodities (DBC) | 39.6% | 18.8% | 1.63 | -16.7% |
| Real Estate (VNQ) | 12.5% | 13.1% | 0.64 | 33.4% |
| Bitcoin (BTCUSD) | -31.8% | 41.6% | -0.81 | 3.5% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCPC | |
|---|---|---|---|---|
| BCPC | 3.9% | 24.1% | 0.13 | - |
| Sector ETF (XLB) | 5.5% | 18.9% | 0.19 | 58.2% |
| Equity (SPY) | 14.3% | 17.0% | 0.66 | 53.1% |
| Gold (GLD) | 18.8% | 18.0% | 0.85 | 7.3% |
| Commodities (DBC) | 10.2% | 19.4% | 0.41 | 4.7% |
| Real Estate (VNQ) | 3.4% | 18.8% | 0.08 | 55.0% |
| Bitcoin (BTCUSD) | 14.6% | 54.6% | 0.46 | 18.4% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with BCPC | |
|---|---|---|---|---|
| BCPC | 10.6% | 26.8% | 0.41 | - |
| Sector ETF (XLB) | 10.5% | 20.6% | 0.45 | 56.5% |
| Equity (SPY) | 15.9% | 17.9% | 0.76 | 54.8% |
| Gold (GLD) | 13.3% | 16.0% | 0.69 | 2.4% |
| Commodities (DBC) | 7.3% | 17.9% | 0.33 | 15.3% |
| Real Estate (VNQ) | 5.7% | 20.7% | 0.24 | 46.9% |
| Bitcoin (BTCUSD) | 67.0% | 66.9% | 1.06 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated N/A/N/A/N/A| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 10/21/2025 | 4.1% | 2.5% | 2.1% |
| 7/31/2025 | 0.2% | 5.2% | 6.5% |
| 4/24/2025 | -2.6% | -1.1% | 5.8% |
| 2/21/2025 | 1.5% | 6.6% | -0.1% |
| 10/25/2024 | 3.2% | 0.7% | 9.8% |
| 7/26/2024 | 3.4% | 0.7% | -1.2% |
| 5/3/2024 | 2.8% | 6.0% | 5.8% |
| 2/16/2024 | 1.9% | 7.2% | 6.5% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 15 | 16 |
| # Negative | 8 | 7 | 6 |
| Median Positive | 2.2% | 4.2% | 5.8% |
| Median Negative | -1.6% | -1.3% | -1.6% |
| Max Positive | 4.1% | 7.2% | 10.7% |
| Max Negative | -3.4% | -6.0% | -7.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 04/30/2026 | 10-Q |
| 12/31/2025 | 02/20/2026 | 10-K |
| 09/30/2025 | 10/21/2025 | 10-Q |
| 06/30/2025 | 07/31/2025 | 10-Q |
| 03/31/2025 | 04/24/2025 | 10-Q |
| 12/31/2024 | 02/21/2025 | 10-K |
| 09/30/2024 | 10/25/2024 | 10-Q |
| 06/30/2024 | 07/26/2024 | 10-Q |
| 03/31/2024 | 05/03/2024 | 10-Q |
| 12/31/2023 | 02/16/2024 | 10-K |
| 09/30/2023 | 10/27/2023 | 10-Q |
| 06/30/2023 | 07/28/2023 | 10-Q |
| 03/31/2023 | 04/28/2023 | 10-Q |
| 12/31/2022 | 02/24/2023 | 10-K |
| 09/30/2022 | 11/04/2022 | 10-Q |
| 06/30/2022 | 07/29/2022 | 10-Q |
Insider Activity
Updated 4/26/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Van, Gunsteren Job Leonard | SVP and GM, Specialty Products | Direct | Sell | 12052025 | 153.29 | 6,000 | 919,723 | 1,447,950 | Form |
| 2 | Fischer, David B | Direct | Sell | 12052025 | 153.97 | 8,000 | 1,231,748 | 1,230,055 | Form | |
| 3 | Reid, Martin Luther | SVP Chief Supply Chain Officer | Direct | Sell | 11132025 | 154.44 | 1,200 | 185,328 | 1,141,466 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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Core Cache Last Updated: 5/29/2026