Compass Minerals International (CMP)
Market Price (6/28/2026): $31.08 | Market Cap: $1.3 BilSector: Materials | Industry: Diversified Metals & Mining
Compass Minerals International (CMP)
Market Price (6/28/2026): $31.08Market Cap: $1.3 BilSector: MaterialsIndustry: Diversified Metals & Mining
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 14% Attractive yieldFCF Yield is 7.7% Low stock price volatilityVol 12M is 50% Megatrend and thematic driversMegatrends include Water Infrastructure, and Advanced Materials. Themes include Water Treatment & Delivery, and Specialty Chemicals for Performance. | Weak multi-year price returns3Y Excs Rtn is -78% | Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 185x Weak revenue growthRev Chg QQuarterly Revenue Change % is -8.4% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 64% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7% Key risksCMP key risks include [1] significant financial leverage and liquidity pressure threatening potential covenant breaches, Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Attractive yieldFCF Yield is 7.7% |
| Low stock price volatilityVol 12M is 50% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, and Advanced Materials. Themes include Water Treatment & Delivery, and Specialty Chemicals for Performance. |
| Weak multi-year price returns3Y Excs Rtn is -78% |
| Expensive valuation multiplesP/EPrice/Earnings or Price/(Net Income) is 185x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -8.4% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 64% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7% |
| Key risksCMP key risks include [1] significant financial leverage and liquidity pressure threatening potential covenant breaches, Show more. |
Qualitative Assessment
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Compass Minerals International (CMP) stock has gained about 25% since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q1 and Q2 2026 Financial Performance and Positive Outlook.
Compass Minerals reported a net income of $18.6 million for fiscal Q1 2026, which ended December 31, 2025, a significant improvement from a net loss of $23.6 million in the prior year. The company's total adjusted EBITDA for Q1 2026 was up 103% year over year to $65.3 million. Fiscal Q2 2026, which ended March 31, 2026, also showed strong results with a net income of $12.7 million, compared to a net loss of $32.0 million in the prior year, and total adjusted EBITDA increasing by 3% year over year to $86.4 million. This positive performance was supported by robust winter weather benefiting the Salt segment and meaningful margin expansion in the Plant Nutrition segment. The company maintained its full-year 2026 adjusted EBITDA guidance midpoint within a modified range of $212 million to $236 million, reflecting stronger-than-expected results in the Plant Nutrition segment.
2. Significant Balance Sheet Deleveraging.
Compass Minerals actively pursued its balance sheet transformation and deleveraging plan, notably by fully redeeming $150 million of its 6.750% Senior Notes due 2027 on March 30, 2026, utilizing cash on hand. This action contributed to a 12% year-over-year decrease in total debt, reaching $713.0 million, and a 16% reduction in net debt to $638.9 million as of March 31, 2026. Consequently, the net leverage ratio for fiscal Q2 2026 significantly improved to 2.7 times, down from 4.6 times in the comparable prior year period.
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Compass Minerals International (CMP) stock has gained about 25% since 2/28/2026 because of the following key factors:
1. Strong Fiscal Q1 and Q2 2026 Financial Performance and Positive Outlook.
Compass Minerals reported a net income of $18.6 million for fiscal Q1 2026, which ended December 31, 2025, a significant improvement from a net loss of $23.6 million in the prior year. The company's total adjusted EBITDA for Q1 2026 was up 103% year over year to $65.3 million. Fiscal Q2 2026, which ended March 31, 2026, also showed strong results with a net income of $12.7 million, compared to a net loss of $32.0 million in the prior year, and total adjusted EBITDA increasing by 3% year over year to $86.4 million. This positive performance was supported by robust winter weather benefiting the Salt segment and meaningful margin expansion in the Plant Nutrition segment. The company maintained its full-year 2026 adjusted EBITDA guidance midpoint within a modified range of $212 million to $236 million, reflecting stronger-than-expected results in the Plant Nutrition segment.
2. Significant Balance Sheet Deleveraging.
Compass Minerals actively pursued its balance sheet transformation and deleveraging plan, notably by fully redeeming $150 million of its 6.750% Senior Notes due 2027 on March 30, 2026, utilizing cash on hand. This action contributed to a 12% year-over-year decrease in total debt, reaching $713.0 million, and a 16% reduction in net debt to $638.9 million as of March 31, 2026. Consequently, the net leverage ratio for fiscal Q2 2026 significantly improved to 2.7 times, down from 4.6 times in the comparable prior year period.
3. Advancement in Lithium Project and Strategic Portfolio Actions.
On May 18, 2026, Compass Minerals entered into an agreement with EnergyX to progress a 30,000-ton commercial lithium Direct Lithium Extraction (DLE) facility at its Great Salt Lake property, highlighting the potential for future growth in the lithium market. Additionally, the company completed the sale of its sulfate of potash (SOP) business in Wynyard, Saskatchewan, Canada, on March 1, 2026, for $30.8 million. This divestiture is part of its strategic "back-to-basics" approach aimed at streamlining its business portfolio.
4. Positive Analyst Sentiment and Price Target Upgrades.
Following the company's strong financial results and strategic developments, analyst sentiment turned positive. On May 14, 2026, JP Morgan upgraded Compass Minerals International (CMP) to Neutral and increased its price target to $30.00. Subsequently, Deutsche Bank maintained its "Buy" rating and raised its price target from $30 to $35 on May 27, 2026. The overall consensus among analysts is a "Buy" rating for CMP, with an average price target of $31, indicating a potential 8.16% upside from the stock price on June 23, 2026.
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Stock Movement Drivers
Fundamental Drivers
The 23.4% change in CMP stock from 2/28/2026 to 6/27/2026 was primarily driven by a 27.6% change in the company's P/S Multiple.| (LTM values as of) | 2282026 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 25.20 | 31.10 | 23.4% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,333 | 1,291 | -3.1% |
| P/S Multiple | 0.8 | 1.0 | 27.6% |
| Shares Outstanding (Mil) | 42 | 42 | -0.2% |
| Cumulative Contribution | 23.4% |
Market Drivers
2/28/2026 to 6/27/2026| Return | Correlation | |
|---|---|---|
| CMP | 23.4% | |
| Market (SPY) | 6.6% | 50.5% |
| Sector (XLB) | -3.0% | 55.3% |
Fundamental Drivers
The 63.8% change in CMP stock from 11/30/2025 to 6/27/2026 was primarily driven by a 56.5% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 18.99 | 31.10 | 63.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,225 | 1,291 | 5.4% |
| P/S Multiple | 0.6 | 1.0 | 56.5% |
| Shares Outstanding (Mil) | 42 | 42 | -0.7% |
| Cumulative Contribution | 63.8% |
Market Drivers
11/30/2025 to 6/27/2026| Return | Correlation | |
|---|---|---|
| CMP | 63.8% | |
| Market (SPY) | 7.3% | 42.2% |
| Sector (XLB) | 16.5% | 51.7% |
Fundamental Drivers
The 61.9% change in CMP stock from 5/31/2025 to 6/27/2026 was primarily driven by a 54.5% change in the company's P/S Multiple.| (LTM values as of) | 5312025 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.21 | 31.10 | 61.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,214 | 1,291 | 6.4% |
| P/S Multiple | 0.7 | 1.0 | 54.5% |
| Shares Outstanding (Mil) | 42 | 42 | -1.5% |
| Cumulative Contribution | 61.9% |
Market Drivers
5/31/2025 to 6/27/2026| Return | Correlation | |
|---|---|---|
| CMP | 61.9% | |
| Market (SPY) | 25.1% | 37.5% |
| Sector (XLB) | 21.9% | 47.9% |
Fundamental Drivers
The 0.2% change in CMP stock from 5/31/2023 to 6/27/2026 was primarily driven by a 5.1% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 5312023 | 6272026 | Change |
|---|---|---|---|
| Stock Price ($) | 31.03 | 31.10 | 0.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 1,229 | 1,291 | 5.1% |
| P/S Multiple | 1.0 | 1.0 | -2.2% |
| Shares Outstanding (Mil) | 41 | 42 | -2.5% |
| Cumulative Contribution | 0.2% |
Market Drivers
5/31/2023 to 6/27/2026| Return | Correlation | |
|---|---|---|
| CMP | 0.2% | |
| Market (SPY) | 81.3% | 25.3% |
| Sector (XLB) | 45.9% | 39.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CMP Return | -14% | -19% | -37% | -55% | 75% | 51% | -48% |
| Peers Return | 70% | -7% | -18% | -18% | 24% | 5% | 38% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 7% | 96% |
Monthly Win Rates [3] | |||||||
| CMP Win Rate | 58% | 58% | 33% | 50% | 58% | 67% | |
| Peers Win Rate | 67% | 47% | 42% | 36% | 56% | 56% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| CMP Max Drawdown | -35% | -53% | -50% | -69% | -36% | -18% | |
| Peers Max Drawdown | -24% | -53% | -43% | -28% | -30% | -32% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: NTR, MOS, IPI. See CMP 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 6/26/2026 (YTD)
How Low Can It Go
| Event | CMP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.3% | -18.8% |
| % Gain to Breakeven | 30.4% | 23.1% |
| Time to Breakeven | 21 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.5% | -6.7% |
| % Gain to Breakeven | 27.4% | 7.1% |
| Time to Breakeven | 86 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.9% | 50.9% |
| Time to Breakeven | 185 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -41.8% | -19.2% |
| % Gain to Breakeven | 71.9% | 23.8% |
| Time to Breakeven | 414 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -13.4% | -3.7% |
| % Gain to Breakeven | 15.5% | 3.9% |
| Time to Breakeven | 238 days | 6 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.3% | -12.2% |
| % Gain to Breakeven | 25.5% | 13.9% |
| Time to Breakeven | 300 days | 62 days |
In The Past
Compass Minerals International's stock fell -23.3% during the 2025 US Tariff Shock. Such a loss loss requires a 30.4% gain to breakeven.
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| Event | CMP | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.3% | -18.8% |
| % Gain to Breakeven | 30.4% | 23.1% |
| Time to Breakeven | 21 days | 79 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -21.5% | -6.7% |
| % Gain to Breakeven | 27.4% | 7.1% |
| Time to Breakeven | 86 days | 31 days |
| 2020 COVID-19 Crash | ||
| % Loss | -42.8% | -33.7% |
| % Gain to Breakeven | 74.9% | 50.9% |
| Time to Breakeven | 185 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -41.8% | -19.2% |
| % Gain to Breakeven | 71.9% | 23.8% |
| Time to Breakeven | 414 days | 105 days |
| 2015-2016 China Devaluation / Global Growth Scare | ||
| % Loss | -20.3% | -12.2% |
| % Gain to Breakeven | 25.5% | 13.9% |
| Time to Breakeven | 300 days | 62 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -22.1% | -6.8% |
| % Gain to Breakeven | 28.4% | 7.3% |
| Time to Breakeven | 355 days | 15 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -24.3% | -17.9% |
| % Gain to Breakeven | 32.2% | 21.8% |
| Time to Breakeven | 574 days | 123 days |
In The Past
Compass Minerals International's stock fell -23.3% during the 2025 US Tariff Shock. Such a loss loss requires a 30.4% 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 Compass Minerals International (CMP)
Compass Minerals International (CMP) is a global producer and seller of essential minerals, operating primarily across North and South America, as well as the UK. The company organizes its business into three main segments: Salt, Plant Nutrition North America, and Plant Nutrition South America, each catering to diverse industrial, agricultural, and consumer needs.
The Salt segment is a significant part of CMP, providing various forms of sodium chloride and magnesium chloride, including rock salt and evaporated salt. These products are crucial for a wide range of applications, such as deicing roads, serving as ingredients in chemical manufacturing, facilitating water treatment, and contributing to human and animal nutrition. This segment serves municipalities, chemical industries, water treatment facilities, and both professional and consumer markets.
CMP's Plant Nutrition business focuses on specialty fertilizers and chemicals for agriculture and industry. In North America, the company produces sulfate of potash (SOP) fertilizers, including its Protassium+ organic brand, and micronutrients under brands like Wolf Trax. These products are sold to distributors, retailers, and growers for enhancing crop yield and maintaining turf. The South America segment further diversifies this offering with additional specialty plant nutrients, water and wastewater treatment chemicals, and process chemicals for industrial applications, reaching growers and industrial clients in that region.
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- It's like Morton Salt for industrial and municipal clients, combined with Mosaic for specialty fertilizers.
- Think of it as a smaller Nutrien, but focused on specialty fertilizers and also a major supplier of salt for roads and industries.
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- Sodium Chloride (Salt): Essential mineral used for deicing roadways, in chemical production, for water treatment, and in human and animal nutrition.
- Magnesium Chloride: Offered in brine and flake forms for deicing and various industrial applications.
- Potassium Chloride and Calcium Chloride: Minerals purchased and sold as finished products or blended with salt for various uses.
- Sulfate of Potash (SOP) Specialty Fertilizers: High-quality fertilizers for agricultural crops and turf applications.
- Micronutrient Products: Specialty nutrients such as those under the Wolf Trax brand, enhancing plant health and yield.
- Specialty Plant Nutrients and Supplements: A range of specialized products designed to optimize plant growth and health.
- Water and Wastewater Treatment Chemicals: Products used for cleaning, decontaminating, and purifying water.
- Process Chemicals: Chemicals supplied for various industrial manufacturing and processing uses.
- Records Management Services: Services pertaining to the storage and management of physical records.
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Compass Minerals International (CMP) primarily sells to other companies and organizations.
Based on the provided company description, specific names of customer companies are not disclosed. However, its major customers can be categorized into the following types of businesses:
- Agricultural Businesses: This includes distributors and retailers of crop inputs, as well as direct growers (farmers), who purchase specialty fertilizers, plant nutrients, and supplements for agricultural use in both North and South America.
- Industrial and Chemical Manufacturing Companies: These customers utilize Compass Minerals' salt products as an ingredient in chemical production, for water treatment, and for various other industrial uses. This category also includes companies purchasing process chemicals and water/wastewater treatment chemicals from the Plant Nutrition South America segment.
- Governmental Agencies and Road Maintenance Companies: These entities are major purchasers of deicing products, such as rock salt and magnesium chloride, for use on roadways.
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Edward C. Dowling Jr. PRESIDENT AND CHIEF EXECUTIVE OFFICER
Edward C. Dowling Jr. joined Compass Minerals as President and Chief Executive Officer in January 2024, having served on the company's board of directors since March 2022. He brings over 30 years of leadership and international mining expertise, having been at the helm of five different companies. Prior to Compass Minerals, Mr. Dowling served as President, CEO, and a board member of SSR Mining Inc. (formerly Alacer Gold Corp.) from 2008 to 2012, and was chair of its board from 2013 to 2020. He was also previously President and CEO of Meridian Gold Inc. from 2006 to 2007. His executive experience also includes roles as Executive Director for Mining and Exploration at De Beers S.A. and Executive Vice President for Operations at Cleveland-Cliffs Inc. Mr. Dowling has also chaired the boards of PJSC Polyus and Copper Mountain Mining Corporation and currently serves on the board of directors of Wesdome Gold Mines Ltd. and Teck Resources Ltd.
Peter Fjellman CHIEF FINANCIAL OFFICER
Peter Fjellman became Chief Financial Officer of Compass Minerals in January 2025. In this role, he is responsible for all aspects of financial management, including accounting, reporting, tax, internal audit, treasury, financial planning and analysis, and investor relations, also leading the company's IT department. Mr. Fjellman has over 30 years of experience leading finance teams across diverse industrial, manufacturing, and logistics sectors. Most recently, he served as Senior Vice President of Finance, Americas and Asia Pacific for GXO Logistics, which was a spinoff of XPO Logistics. His previous experience includes serving as CFO, Americas for ABB, Vice President of Finance, North America, at Danaher Corporation, and various positions at Newell Rubbermaid Corporation. Mr. Fjellman began his career on the audit team at KPMG.
Patrick Merrin CHIEF OPERATIONS OFFICER
Patrick Merrin was appointed Chief Operations Officer of Compass Minerals on January 27, 2025, with his role becoming effective on March 3, 2025. He brings three decades of experience in the mining industry to his role. Prior to joining Compass Minerals, Mr. Merrin served as Chief Executive Officer at Copper Mountain Mining Corporation.
Ben Nichols CHIEF COMMERCIAL OFFICER
As Chief Commercial Officer, Ben Nichols is responsible for leading all commercial activities for Compass Minerals' Salt and Plant Nutrition businesses, as well as managing the global supply chain.
Amy Tills CHIEF HUMAN RESOURCES OFFICER
Amy Tills leads Compass Minerals' global human resources team and is responsible for driving the company's people strategy.
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The key risks to Compass Minerals International (CMP) primarily stem from its financial structure, the inherent variability of its largest segment's demand, and operational challenges. These factors can significantly impact the company's profitability and financial stability.
- Financial Leverage and Liquidity: Compass Minerals faces substantial risks due to its elevated debt burden and high interest costs. The company has experienced negative free cash flows in recent fiscal years, which has eroded its credit cushion and raised concerns about its ability to manage earnings volatility. There is also a risk of potential covenant breaches, which could necessitate further amendments to its credit agreements. Elevated debt levels and leverage compared to peers pose additional risk and reduce operational flexibility.
- Weather Dependency for Salt Segment: The profitability of Compass Minerals' Salt segment, which accounts for a significant portion of its revenue, is heavily influenced by winter weather conditions, including the amount, timing, and duration of wintry precipitation and snow events. Mild winters can lead to lower demand for de-icing products, impacting sales volumes and profitability. Any prolonged change in weather patterns, potentially due to climate change, could materially affect the company's operations.
- Operational Challenges and Cost Pressures: The company has experienced operational underperformance, including production curtailments at its Goderich mine, which have eroded profitability. Mining and industrial operations inherently involve significant risks and hazards, such as environmental hazards, industrial accidents, and natural disasters. Additionally, energy and labor are significant components of the overall cost structure, putting constant pressure on margins.
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Compass Minerals International (CMP) participates in several addressable markets for its diverse product offerings across its Salt, Plant Nutrition North America, and Plant Nutrition South America segments.
Salt Segment
- Global Salt Market: The global salt market was valued at approximately $41.9 billion in 2023 and is projected to reach $85.7 billion by 2033.
- North America Salt Market: This market reached USD 6.07 billion in 2025 and is projected to grow to USD 9.98 billion by 2035.
- Global Bulk De-icing Salt Market: The global bulk de-icing salt market is projected to reach an estimated $26.92 billion by 2025 and is expected to expand at a Compound Annual Growth Rate (CAGR) of 4.4% from 2025 to 2033. North America is a dominant market, with annual usage in the U.S. and Canada exceeding 25 million metric tons.
- Global Industrial Salt Market (including chemical manufacturing and water treatment): This market is anticipated to be valued at US$ 15.9 billion in 2026 and is expected to reach US$ 23.6 billion by 2033.
- Global Food Grade Salt Market: The global food-grade salt market was valued at USD 20.1 billion in 2024 and is expected to be worth around USD 26.5 billion by 2034. North America is the largest market for food-grade salt, accounting for approximately 45% of the global share.
Plant Nutrition North America Segment
- Global Sulfate of Potash (SOP) Market: The global sulfate of potash market size was valued at USD 56.12 billion in 2024 and is expected to reach USD 82.92 billion by 2032.
- North America Sulfate of Potash (SOP) Market: North America accounts for a significant portion of the global SOP market, representing between 26.64% (2025) and 46.07% (2024) of the global share. The U.S. Potassium Sulfate Market size alone was valued at USD 1.00 billion in 2025 and is projected to reach USD 1.39 billion by 2033.
Plant Nutrition South America Segment
- South America Specialty Fertilizer Market: This market was valued at USD 3.31 billion in 2025 and is estimated to grow to USD 4.64 billion by 2031. Another estimate for the Latin America specialty fertilizers market indicates a size of USD 2.65 billion in 2025, anticipated to reach USD 5.57 billion by 2034. Brazil, as the largest consumer, generated an estimated US$1 billion in revenue in 2024, projected to surpass US$1.7 billion by 2033.
- South America Water and Wastewater Treatment Chemicals Market: The South American water treatment chemicals market is estimated to be valued at approximately $2.5 billion in 2024 and is projected to grow to $3.3 billion by 2029.
- South America Process Chemicals Market (Specialty Chemicals): The broader Latin America specialty chemicals market generated a revenue of USD 65,591.2 million in 2024. More specifically, the South America specialty pulp and paper chemicals market was valued at USD 1.45 billion in 2023 and is projected to reach approximately USD 1.62 billion by 2033. The Latin America refinery process chemicals market was estimated at USD 256.23 million in 2024.
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For Compass Minerals International (CMP), several key drivers are expected to contribute to future revenue growth over the next 2-3 years:
- Growth in the Plant Nutrition Segment: The Plant Nutrition business is projected to demonstrate continued strong performance, driven by increased sales volumes, enhanced production efficiency, and improved average sales prices for sulfate of potash (SOP). Operational improvements at facilities like Ogden are also expected to contribute to cost enhancements and segment momentum.
- Improved Pricing and Volumes in the Salt Business: The Salt segment, particularly highway deicing products, is anticipated to see revenue growth through favorable pricing and increased sales volumes. Recent strong performance has been attributed to a return to more normal winter weather conditions and strategic inventory management that has positioned the company well for demand.
- Enhanced Operational Efficiency and "Back-to-Basics" Strategy: Compass Minerals is focused on an optimization-driven "back-to-basics" strategy aimed at improving efficiency, reducing costs, and expanding profitability across its operations. These initiatives are expected to lead to better financial performance and cash generation, indirectly supporting revenue growth by allowing for more competitive market positioning.
- Expansion of the Fire Retardant Business: The company is actively "nurturing the growth of our emerging Fire Retardant business," indicating expectations for this segment to contribute to future revenue streams.
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Outbound Investments
- Compass Minerals acquired a 45% minority ownership stake in Fortress North America, a fire retardant company, in November 2021.
- The company completed the purchase of Fortress North America, LLC in May 2023.
- Subsequent to the first quarter of fiscal 2026 (around December 2025/January 2026), Compass Minerals agreed to sell its Wynyard sulfate of potash (SOP) operation in Saskatchewan, Canada, for $30.8 million.
Capital Expenditures
- Capital expenditures for fiscal 2026 are projected to be between $90 million and $110 million, with a focus on operational reliability and growth initiatives.
- For 2024, expected capital expenditures were in the range of $120 million to $130 million. This included $80 million to $90 million for sustaining capital in the core Salt and Plant Nutrition businesses, approximately $30 million for lithium-associated projects, and about $10 million for Fortress growth.
- In November 2021, Compass Minerals announced plans to reinvest approximately $80 million annually, derived from a dividend reduction, primarily into strategic expansions, including the development of a battery-grade lithium hydroxide capability.
Latest Trefis Analyses
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|---|---|
| ARTICLES |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 32.84 |
| Mkt Cap | 4.2 |
| Rev LTM | 6,860 |
| Op Inc LTM | 361 |
| FCF LTM | 70 |
| FCF 3Y Avg | 84 |
| CFO LTM | 531 |
| CFO 3Y Avg | 803 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 9.6% |
| Rev Chg 3Y Avg | -4.7% |
| Rev Chg Q | 9.4% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Inc Chg LTM | 111.8% |
| Op Inc Chg 3Y Avg | 16.0% |
| Op Mgn LTM | 7.1% |
| Op Mgn 3Y Avg | 6.5% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 14.4% |
| CFO/Rev 3Y Avg | 13.8% |
| FCF/Rev LTM | 7.9% |
| FCF/Rev 3Y Avg | 4.2% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.2 |
| P/S | 1.0 |
| P/Op Inc | 11.3 |
| P/EBIT | 10.8 |
| P/E | 95.2 |
| P/CFO | 7.2 |
| Total Yield | 3.8% |
| Dividend Yield | 1.8% |
| FCF Yield 3Y Avg | 3.5% |
| D/E | 0.5 |
| Net D/E | 0.5 |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Salt | 1,022 | 908 | 1,011 | 1,010 | 671 |
| Plant Nutrition | 219 | 189 | 182 | 222 | 157 |
| Corporate & Other | 3 | 21 | 12 | 12 | 9 |
| Total | 1,244 | 1,117 | 1,205 | 1,244 | 837 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Salt | 146 | 164 | 170 | 116 | 133 |
| Plant Nutrition | 6 | -86 | 10 | 37 | 6 |
| Corporate & Other | -127 | -194 | -103 | -110 | -60 |
| Total | 25 | -117 | 77 | 43 | 79 |
| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Salt | 1,039 | 1,084 | 1,050 | 1,021 | 1,040 |
| Plant Nutrition | 364 | 388 | 473 | 475 | 459 |
| Corporate & Other | 117 | 168 | 293 | 148 | 122 |
| Current assets held for sale | 10 | ||||
| Total | 1,519 | 1,640 | 1,817 | 1,644 | 1,631 |
Price Behavior
| Market Price | $31.10 | |
| Market Cap ($ Bil) | 1.3 | |
| First Trading Date | 12/12/2003 | |
| Distance from 52W High | -7.2% | |
| 50 Days | 200 Days | |
| DMA Price | $28.98 | $22.95 |
| DMA Trend | up | up |
| Distance from DMA | 7.3% | 35.5% |
| 3M | 1YR | |
| Volatility | 50.5% | 50.0% |
| Downside Capture | 182.30 | 146.61 |
| Upside Capture | 199.16 | 168.80 |
| Correlation (SPY) | 51.7% | 39.0% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.68 | 2.23 | 1.82 | 1.90 | 1.53 | 0.92 |
| Up Beta | 0.35 | 2.04 | 1.44 | 1.15 | 1.24 | 0.90 |
| Down Beta | 3.13 | 1.68 | 1.04 | 1.68 | 1.79 | 0.52 |
| Up Capture | 267% | 255% | 267% | 396% | 219% | 102% |
| Bmk +ve Days | 13 | 28 | 36 | 67 | 141 | 432 |
| Stock +ve Days | 11 | 23 | 31 | 67 | 127 | 369 |
| Down Capture | 74% | 270% | 197% | 168% | 130% | 106% |
| Bmk -ve Days | 7 | 13 | 27 | 57 | 109 | 318 |
| Stock -ve Days | 8 | 17 | 31 | 55 | 117 | 371 |
[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 CMP | |
|---|---|---|---|---|
| CMP | 60.7% | 49.9% | 1.12 | - |
| Sector ETF (XLB) | 20.7% | 17.5% | 0.92 | 47.8% |
| Equity (SPY) | 21.2% | 12.4% | 1.26 | 38.0% |
| Gold (GLD) | 21.8% | 27.7% | 0.70 | 31.4% |
| Commodities (DBC) | 21.8% | 18.6% | 0.92 | 9.5% |
| Real Estate (VNQ) | 16.1% | 13.6% | 0.85 | 12.2% |
| Bitcoin (BTCUSD) | -44.2% | 42.5% | -1.25 | 20.6% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CMP | |
|---|---|---|---|---|
| CMP | -10.8% | 52.6% | -0.02 | - |
| Sector ETF (XLB) | 7.2% | 19.0% | 0.27 | 45.2% |
| Equity (SPY) | 13.4% | 17.1% | 0.61 | 35.4% |
| Gold (GLD) | 17.8% | 18.3% | 0.79 | 17.3% |
| Commodities (DBC) | 7.4% | 19.5% | 0.28 | 16.0% |
| Real Estate (VNQ) | 3.4% | 18.9% | 0.08 | 32.7% |
| Bitcoin (BTCUSD) | 10.9% | 54.0% | 0.39 | 19.9% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with CMP | |
|---|---|---|---|---|
| CMP | -6.1% | 45.0% | 0.02 | - |
| Sector ETF (XLB) | 10.3% | 20.7% | 0.44 | 51.8% |
| Equity (SPY) | 15.2% | 18.0% | 0.72 | 44.1% |
| Gold (GLD) | 11.8% | 16.1% | 0.60 | 11.6% |
| Commodities (DBC) | 5.9% | 18.0% | 0.26 | 22.2% |
| Real Estate (VNQ) | 5.6% | 20.7% | 0.23 | 37.7% |
| Bitcoin (BTCUSD) | 54.7% | 66.4% | 0.95 | 14.3% |
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Returns Analyses
Earnings Returns History
Updated 6/9/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | 6.7% | 14.2% | 12.0% |
| 2/4/2026 | -14.8% | -5.1% | -7.8% |
| 12/8/2025 | -13.8% | -10.2% | 8.9% |
| 8/11/2025 | -10.7% | -11.5% | -16.1% |
| 5/7/2025 | 26.2% | 38.7% | 39.8% |
| 2/10/2025 | -5.8% | -2.1% | -18.2% |
| 12/16/2024 | 1.4% | -16.0% | 12.7% |
| 10/30/2024 | -4.9% | 4.5% | 19.2% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 15 |
| # Negative | 16 | 15 | 10 |
| Median Positive | 1.5% | 7.2% | 8.9% |
| Median Negative | -6.3% | -5.7% | -17.2% |
| Max Positive | 26.2% | 38.7% | 39.8% |
| Max Negative | -20.8% | -30.0% | -25.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/6/2026 | 6.7% | 14.2% | 12.0% |
| 2/4/2026 | -14.8% | -5.1% | -7.8% |
| 12/8/2025 | -13.8% | -10.2% | 8.9% |
| 8/11/2025 | -10.7% | -11.5% | -16.1% |
| 5/7/2025 | 26.2% | 38.7% | 39.8% |
| 2/10/2025 | -5.8% | -2.1% | -18.2% |
| 12/16/2024 | 1.4% | -16.0% | 12.7% |
| 10/30/2024 | -4.9% | 4.5% | 19.2% |
| 5/7/2024 | 0.7% | -5.2% | 1.7% |
| 2/7/2024 | -5.8% | -4.7% | -6.8% |
| 11/16/2023 | -4.1% | 2.1% | 7.7% |
| 8/8/2023 | -5.7% | -20.8% | -25.5% |
| 5/9/2023 | 1.3% | 7.6% | 16.1% |
| 2/7/2023 | -14.7% | -14.2% | -20.1% |
| 11/29/2022 | 8.1% | 6.8% | 0.6% |
| 8/4/2022 | 1.5% | 12.0% | 5.1% |
| 5/5/2022 | -18.3% | -30.0% | -24.4% |
| 2/8/2022 | -6.8% | -4.0% | 7.0% |
| 11/15/2021 | -20.8% | -27.1% | -25.0% |
| 9/29/2021 | 0.6% | 2.4% | 2.7% |
| 8/13/2021 | -1.0% | -5.7% | -0.4% |
| 5/4/2021 | -0.6% | -1.1% | -2.5% |
| 2/16/2021 | -7.7% | -3.9% | 3.1% |
| 11/4/2020 | -4.9% | 2.7% | 9.4% |
| 8/4/2020 | 7.4% | 13.0% | 12.3% |
| SUMMARY STATS | |||
| # Positive | 9 | 10 | 15 |
| # Negative | 16 | 15 | 10 |
| Median Positive | 1.5% | 7.2% | 8.9% |
| Median Negative | -6.3% | -5.7% | -17.2% |
| Max Positive | 26.2% | 38.7% | 39.8% |
| Max Negative | -20.8% | -30.0% | -25.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/06/2026 | 10-Q |
| 09/30/2025 | 12/12/2025 | 10-K |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/10/2025 | 10-Q |
| 09/30/2024 | 12/16/2024 | 10-K |
| 06/30/2024 | 10/30/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/29/2023 | 10-K |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 12/14/2022 | 10-K |
| 06/30/2022 | 08/05/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 03/31/2026 | 05/07/2026 | 10-Q |
| 12/31/2025 | 02/06/2026 | 10-Q |
| 09/30/2025 | 12/12/2025 | 10-K |
| 06/30/2025 | 08/11/2025 | 10-Q |
| 03/31/2025 | 05/08/2025 | 10-Q |
| 12/31/2024 | 02/10/2025 | 10-Q |
| 09/30/2024 | 12/16/2024 | 10-K |
| 06/30/2024 | 10/30/2024 | 10-Q |
| 03/31/2024 | 05/15/2024 | 10-Q |
| 12/31/2023 | 02/08/2024 | 10-Q |
| 09/30/2023 | 11/29/2023 | 10-K |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 02/07/2023 | 10-Q |
| 09/30/2022 | 12/14/2022 | 10-K |
| 06/30/2022 | 08/05/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 02/08/2022 | 10-Q |
| 09/30/2021 | 11/30/2021 | 10-KT |
| 06/30/2021 | 08/13/2021 | 10-Q |
| 03/31/2021 | 05/07/2021 | 10-Q |
| 12/31/2020 | 02/26/2021 | 10-K |
| 09/30/2020 | 11/05/2020 | 10-Q |
| 06/30/2020 | 08/05/2020 | 10-Q |
| 03/31/2020 | 05/06/2020 | 10-Q |
| 12/31/2019 | 02/26/2020 | 10-K |
| 09/30/2019 | 11/06/2019 | 10-Q |
| 06/30/2019 | 08/07/2019 | 10-Q |
Recent Forward Guidance
Updated 5/31/2026Latest: Q2 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 1.02 Bil | 1.05 Bil | 1.08 Bil | 3.7% | Raised | Guidance: 1.01 Bil for 2026 | |
| 2026 Adjusted EBITDA | 212.00 Mil | 224.00 Mil | 236.00 Mil | 0 | Affirmed | Guidance: 224.00 Mil for 2026 | |
| 2026 Capital expenditures | 90.00 Mil | 100.00 Mil | 110.00 Mil | 0 | Affirmed | Guidance: 100.00 Mil for 2026 | |
| 2026 Highway deicing sales volumes | 8.45 Mil | 8.62 Mil | 8.80 Mil | ||||
| 2026 Consumer and industrial sales volumes | 1.90 Mil | 1.95 Mil | 2.00 Mil | ||||
| 2026 Total salt sales volumes | 10.35 Mil | 10.57 Mil | 10.80 Mil | ||||
Prior: Q1 2026 Earnings Reported 2/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 980.00 Mil | 1.01 Bil | 1.05 Bil | ||||
| 2026 Adjusted EBITDA | 208.00 Mil | 224.00 Mil | 240.00 Mil | 1.8% | Raised | Guidance: 220.00 Mil for 2026 | |
| 2026 Capital Expenditures | 90.00 Mil | 100.00 Mil | 110.00 Mil | 0 | Affirmed | Guidance: 100.00 Mil for 2026 | |
Industry Resources
| Materials Resources |
| Chemical & Engineering News (C&EN) |
| Mining.com |
| Plastics News |
| Diversified Metals & Mining Resources |
| Mining Technology |
| International Mining |
| Northern Miner |
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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