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what it is
Minerals Technologies makes specialty mineral products and services that manufacturers use in everyday industrial and consumer products.
how it gets paid
Last year Minerals Tech made $2.1B in revenue.
why growth slowed
Revenue fell 2.2% last year. With ~$2.1B annual sales, a typical quarter is on the order of ~$500M—not $1.6B—unless you are reading a different period or consolidated line in the filing.
what just happened
Recent results included a loss on the order of -$1.76 EPS in the window this page used—pair any revenue figure with the same quarter in the 10-Q before annualizing.
At a glance
B+ balance sheet — decent shape, but not bulletproof
75/100 earnings predictability — reasonably predictable
trailing p/e — not meaningful when GAAP EPS is negative in the cited period
0.7% dividend yield — cash in your pocket every quarter
8.0% return on capital — nothing to write home about
xvary composite: 57/100 — below average
What they do
Minerals Technologies makes specialty mineral products and services that manufacturers use in everyday industrial and consumer products.
MTX wins by not depending on one customer, one country, or one business line. Sales are split 53% Consumer & Specialties and 47% Engineered Solutions, with 51% in the U.S. and 49% abroad. If one market slows, your whole story does not immediately break.
How they make money
$2.1B
annual revenue · revenue declined -2.2% last year
total revenue
$2.1B
2.2%
The products that matter
produces and sells specialty minerals
Specialty Minerals
$2.1B revenue
It generated $2.1B in revenue last year on a full-year reported basis (down ~2.2% vs. prior year in this snapshot). This is the core economic story—any “growth” narrative has to reconcile to that filing table first.
core
Key numbers
n/m
trailing p/e
When the filing window shows a loss, headline P/E from data feeds is noise—use EV/sales, cash flow, or forward estimates instead.
2.3%
operating margin
Operating margin → profit left after running the business → so what: MTX does not have much room for mistakes.
8.0%
return on capital
Return on capital → profit earned on money invested → so what: decent, but not the kind of number that hides weak execution.
$955M
long-term debt
Long-term debt → money owed over years → so what: debt equals 29% of capital, which is manageable but not invisible.
Financial health
B+
strength
- balance sheet grade B+ — solid but not elite
- risk rank 3 — safer than 50% of stocks
- price stability 70 / 100
- long-term debt $955M (29% of capital)
- net profit margin 8.6% — TTM / filing window; can coexist with a single loss quarter—check the same period as the -$1.76 EPS print
- return on equity 10% — $0.10 profit for every $1 investors have put in
B+ — functional but not a standout on the balance sheet.
Total return vs. market
You invested $10,000 in MTX 3 years ago → it's now worth $12,040.
The index would have given you $13,880.
source: institutional data · total return
What just happened
missed estimates
Latest results showed on the order of ~$525M (q) in revenue (roughly one-fourth of ~$2.1B FY)—not $1.6B unless you are reading TTM, YTD, or the wrong consolidated line. EPS landed at -$1.76 in the window this block used.
Gross margin was 25.3%, which tells you the products still carry value. The problem is lower down the income statement, where a ~2.3% operating margin on the full year leaves little shock absorption when a single quarter goes loss-heavy.
~$525M
revenue (q)
-$1.76
eps (q)
25.3%
gross margin (q)
the number that mattered
The 2.3% operating margin matters most because it explains how a ~$2.1B annual minerals business can still produce ugly quarterly EPS swings when one print goes deeply negative.
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minerals technologies is well diversified by both product and geography.
-
this enables it to post fairly balanced and even top-line results.
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sales are split 51%/49% between the u.s. and abroad.
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this can either aid or hinder currency translation.meantime, the company has two main segments producing a fairly even split when it comes to sales and operating income.
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both these segments contain two operations that further diversify product sales.
source: company earnings report, 2026
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What could go wrong
the #1 risk is input-cost and pricing pressure in specialty minerals.
med
raw material and energy inflation
MTX only converts 8.6% of revenue into net profit. That is enough to make money, but not enough to shrug off a sustained cost spike.
If costs rise faster than pricing, the current 20.0% operating margin can compress quickly.
med
growth snapback fades
Revenue grew 33.4% last year, but the current revenue estimate for fy2026 is $2B versus $2.1B last year. The market is already bracing for a slower run rate.
If that slowdown comes with weaker pricing, the stock stops looking cheap and starts looking cyclical.
med
currency translation swings
Sales are split 51% / 49% between the U.S. and abroad. That balance helps diversification, but it means foreign exchange can help one quarter and hurt the next.
You can get stable underlying demand and still see messy reported numbers.
med
debt limits flexibility
Long-term debt sits at $955M, or 29% of capital. That is manageable with a B+ balance sheet, but it is not nothing if earnings soften.
You have room to operate, not room to get careless.
At an 8.6% net margin on $2.1B of revenue, MTX does not have a giant cushion. A few points of margin pressure would matter a lot more than the 33.4% growth headline suggests.
source: institutional data · regulatory filings · risk analysis
Pay attention to
margin
operating margin versus net margin
A 20.0% operating margin becomes just 8.6% net margin. That spread tells you how much room the business really has when costs move.
earnings
next quarterly EPS trend
The last quarter beat estimates, but EPS still fell 6% from a year ago. You want to see whether that was a one-quarter wobble or the start of a slower earnings phase.
risk
input-cost pass-through
If raw material, freight, or energy costs rise, watch whether management can price fast enough to protect that 8.6% net margin.
trend
whether $2B revenue becomes the new base
Wall Street's fy2026 revenue view sits at $2B after a $2.1B year. That means the next debate is durability, not just growth.
Analyst rankings
short-term outlook
average
momentum score 3 — in human-speak, analysts think MTX will behave like an ordinary stock from here, not a standout leader.
risk profile
average
stability score 3 — the balance sheet is fine, but the business is still exposed to industrial costs and cycles.
chart momentum
bottom 5%
technical score 5 — the chart is weak enough that the market is asking for proof before giving this stock credit.
earnings predictability
75 / 100
Management is usually pretty steady. You are not buying chaos here — you are buying a business the market currently doubts.
source: institutional data
Institutional activity
institutions have been net buying for 2 consecutive quarters — 133 buyers vs. 113 sellers in 3q2025. total institutional holdings: 31.3M shares. net buying for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$58
$115
$72
current price
$87
target midpoint · +21% from current · 3-5yr high: $120 (+65% · 14% ann'l return)
Want the deeper analysis?
The full deep dive: dcf model, scenario analysis, competitive moat breakdown, and quarterly tracking — everything on this page, taken further.
see plans from $5/moThe deep dive