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CABOT CORP

CBT Clue Score54
United States Fiscal year ends September CIK 0000016040
$74.91 -0.93% Close, 9 Oct 2026
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Price $74.91 +44.67% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 11 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2017Revenue2,717.0Operating income338.0Net income248.0EPS, diluted3.91Fiscal year 2018Revenue3,242.0 +19.3%Operating income144.0Net income−113.0 −145.6%EPS, diluted−1.85 −147.3%Fiscal year 2019Revenue3,337.0 +2.9%Operating income306.0Net income157.0EPS, diluted2.63Fiscal year 2020Revenue2,614.0 −21.7%Operating income21.0Net income−238.0 −251.6%EPS, diluted−4.21 −260.1%Fiscal year 2021Revenue3,409.0 +30.4%Operating income454.0Net income250.0EPS, diluted4.34Fiscal year 2022Revenue4,321.0 +26.8%Operating income389.0Net income209.0 −16.4%EPS, diluted3.62 −16.6%Fiscal year 2023Revenue3,931.0 −9.0%Operating income526.0Net income445.0 +112.9%EPS, diluted7.73 +113.5%Fiscal year 2024Revenue3,994.0 +1.6%Operating income614.0Net income380.0 −14.6%EPS, diluted6.72 −13.1%Fiscal year 2025Revenue3,713.0 −7.0%Operating income621.0Net income331.0 −12.9%EPS, diluted6.02 −10.4%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,717.0 3,242.0 3,337.0 2,614.0 3,409.0 4,321.0 3,931.0 3,994.0 3,713.0
Growth +19.3% +2.9% −21.7% +30.4% +26.8% −9.0% +1.6% −7.0%
Operating income 338.0 144.0 306.0 21.0 454.0 389.0 526.0 614.0 621.0
Net income 248.0 −113.0 157.0 −238.0 250.0 209.0 445.0 380.0 331.0
Growth −145.6% −251.6% −16.4% +112.9% −14.6% −12.9%
EPS, diluted 3.91 −1.85 2.63 −4.21 4.34 3.62 7.73 6.72 6.02
Growth −147.3% −260.1% −16.6% +113.5% −13.1% −10.4%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2017Gross margin24.2%Operating margin12.4%Net margin9.1%Free cash flow margin7.4%Fiscal year 2018Gross margin23.8%Operating margin4.4%Net margin−3.5%Free cash flow margin2.1%Fiscal year 2019Gross margin20.5%Operating margin9.2%Net margin4.7%Free cash flow margin4.2%Fiscal year 2020Gross margin19.1%Operating margin0.8%Net margin−9.1%Free cash flow margin6.8%Fiscal year 2021Gross margin23.4%Operating margin13.3%Net margin7.3%Free cash flow margin1.8%Fiscal year 2022Gross margin20.5%Operating margin9.0%Net margin4.8%Free cash flow margin−2.6%Fiscal year 2023Gross margin21.3%Operating margin13.4%Net margin11.3%Free cash flow margin8.9%Fiscal year 2024Gross margin24.0%Operating margin15.4%Net margin9.5%Free cash flow margin11.3%Fiscal year 2025Gross margin25.3%Operating margin16.7%Net margin8.9%Free cash flow margin10.5%
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 24.2% 23.8% 20.5% 19.1% 23.4% 20.5% 21.3% 24.0% 25.3%
Operating margin 12.4% 4.4% 9.2% 0.8% 13.3% 9.0% 13.4% 15.4% 16.7%
Net margin 9.1% −3.5% 4.7% −9.1% 7.3% 4.8% 11.3% 9.5% 8.9%
Free cash flow margin 7.4% 2.1% 4.2% 6.8% 1.8% −2.6% 8.9% 11.3% 10.5%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2017Operating cash flow348.0Capital expenditure−147.0Free cash flow201.0Buybacks−61.0Dividends paid−77.0Fiscal year 2018Operating cash flow298.0Capital expenditure−229.0Free cash flow69.0 −65.7%Buybacks−142.0Dividends paid−80.0Fiscal year 2019Operating cash flow363.0Capital expenditure−224.0Free cash flow139.0 +101.4%Buybacks−173.0Dividends paid−80.0Fiscal year 2020Operating cash flow377.0Capital expenditure−200.0Free cash flow177.0 +27.3%Buybacks−44.0Dividends paid−80.0Fiscal year 2021Operating cash flow257.0Capital expenditure−195.0Free cash flow62.0 −65.0%Buybacks−3.0Dividends paid−80.0Fiscal year 2022Operating cash flow100.0Capital expenditure−211.0Free cash flow−111.0 −279.0%Buybacks−53.0Dividends paid−84.0Fiscal year 2023Operating cash flow595.0Capital expenditure−244.0Free cash flow351.0Buybacks−98.0Dividends paid−88.0Fiscal year 2024Operating cash flow692.0Capital expenditure−241.0Free cash flow451.0 +28.5%Buybacks−172.0Dividends paid−93.0Fiscal year 2025Operating cash flow665.0Capital expenditure−274.0Free cash flow391.0 −13.3%Buybacks−168.0Dividends paid−96.0
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 348.0 298.0 363.0 377.0 257.0 100.0 595.0 692.0 665.0
Capital expenditure −147.0 −229.0 −224.0 −200.0 −195.0 −211.0 −244.0 −241.0 −274.0
Free cash flow 201.0 69.0 139.0 177.0 62.0 −111.0 351.0 451.0 391.0
Growth −65.7% +101.4% +27.3% −65.0% −279.0% +28.5% −13.3%
Buybacks −61.0 −142.0 −173.0 −44.0 −3.0 −53.0 −98.0 −172.0 −168.0
Dividends paid −77.0 −80.0 −80.0 −80.0 −80.0 −84.0 −88.0 −93.0 −96.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2017Cash280.0Total debt917.0Net cash (debt)−637.0Shareholders’ equity1,504.0Debt to equity0.61Fiscal year 2018Cash175.0Total debt754.0Net cash (debt)−579.0Shareholders’ equity1,154.0Debt to equity0.65Fiscal year 2019Cash169.0Total debt1,031.0Net cash (debt)−862.0Shareholders’ equity998.0Debt to equity1.03Fiscal year 2020Cash151.0Total debt1,101.0Net cash (debt)−950.0Shareholders’ equity691.0Debt to equity1.59Fiscal year 2021Cash168.0Total debt1,090.0Net cash (debt)−922.0Shareholders’ equity947.0Debt to equity1.15Fiscal year 2022Cash206.0Total debt1,096.0Net cash (debt)−890.0Shareholders’ equity898.0Debt to equity1.22Fiscal year 2023Cash238.0Total debt1,102.0Net cash (debt)−864.0Shareholders’ equity1,264.0Debt to equity0.87Fiscal year 2024Cash223.0Total debt1,095.0Net cash (debt)−872.0Shareholders’ equity1,425.0Debt to equity0.77Fiscal year 2025Cash258.0Total debt1,116.0Net cash (debt)−858.0Shareholders’ equity1,550.0Debt to equity0.72
FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 280.0 175.0 169.0 151.0 168.0 206.0 238.0 223.0 258.0
Total debt 917.0 754.0 1,031.0 1,101.0 1,090.0 1,096.0 1,102.0 1,095.0 1,116.0
Net cash (debt) −637.0 −579.0 −862.0 −950.0 −922.0 −890.0 −864.0 −872.0 −858.0
Shareholders’ equity 1,504.0 1,154.0 998.0 691.0 947.0 898.0 1,264.0 1,425.0 1,550.0
Debt to equity 0.61 0.65 1.03 1.59 1.15 1.22 0.87 0.77 0.72

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending September, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2017 30 Sep 2017 FY2018 30 Sep 2018 FY2019 30 Sep 2019 FY2020 30 Sep 2020 FY2021 30 Sep 2021 FY2022 30 Sep 2022 FY2023 30 Sep 2023 FY2024 30 Sep 2024 FY2025 30 Sep 2025
Revenue and profit
2,717.0 3,242.0 3,337.0 2,614.0 3,409.0 4,321.0 3,931.0 3,994.0 3,713.0
Growth +19.3% +2.9% −21.7% +30.4% +26.8% −9.0% +1.6% −7.0%
2,060.0 2,470.0 2,652.0 2,114.0 2,610.0 3,436.0 3,092.0 3,034.0 2,773.0
657.0 772.0 685.0 500.0 799.0 885.0 839.0 960.0 940.0
Growth +17.5% −11.3% −27.0% +59.8% +10.8% −5.2% +14.4% −2.1%
57.0 66.0 60.0 57.0 56.0 55.0 57.0 63.0 59.0
262.0 308.0 290.0 292.0 289.0 258.0 253.0 283.0 260.0
338.0 144.0 306.0 21.0 454.0 389.0 526.0 614.0 621.0
Growth −57.4% +112.5% −93.1% +2,061.9% −14.3% +35.2% +16.7% +1.1%
299.0 117.0 255.0 −33.0 406.0 335.0 451.0 529.0 565.0
33.0 193.0 70.0 191.0 123.0 102.0 −28.0 111.0 196.0
248.0 −113.0 157.0 −238.0 250.0 209.0 445.0 380.0 331.0
Growth −145.6% −251.6% −16.4% +112.9% −14.6% −12.9%
Per share
3.94 −1.85 2.64 −4.21 4.35 3.65 7.79 6.79 6.07
3.91 −1.85 2.63 −4.21 4.34 3.62 7.73 6.72 6.02
Growth −147.3% −260.1% −16.6% +113.5% −13.1% −10.4%
62.3 61.7 58.7 56.6 56.7 56.5 56.1 55.1 53.7
62.7 61.7 58.8 56.6 56.8 56.9 56.5 55.7 54.2
Growth −1.6% −4.7% −3.7% +0.4% +0.2% −0.7% −1.4% −2.7%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 7.3% a year over five years.
  • The diluted share count fell 4.2% in five years, so buybacks did some of the work per share.
  • Operating margin is up 15.9 points on five years ago, at 16.7%.
  • A net loss in 2 of 9 years on file.