Balchem Corporation
- Open
- 177.40
- Day high
- 177.50
- Day low
- 176.12
- Prev close
- 177.50
- Volume
- 17K
- Mkt cap
- $5.6B
- P/E (TTM)
- 34.5
- EPS (TTM)
- $5.12
- P/B
- 4.3
- P/S
- 5.2
- Yield
- 0.54%
- Per share
- $0.96
Balchem Corporation (BCPC) is a Basic Materials company listed on NASDAQ. The stock is up 11% over the past year. Drillr has 1 published research article covering BCPC.
Balchem Corporation (BCPC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
BCPC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Jul 31, 2026 | $1.27 | $1.40 | +10.2% | $284M | +5.8% |
| Apr 30, 2026 | $1.41 | $1.25 | -11.3% | $271M | +1.6% |
| Feb 20, 2026 | $1.29 | $1.31 | +1.6% | $264M | -1.2% |
| Oct 21, 2025 | $1.36 | $1.35 | -0.7% | $268M | +3.1% |
| Jul 31, 2025 | $1.25 | $1.27 | +1.6% | $255M | -0.8% |
| Apr 24, 2025 | $1.25 | $1.22 | -2.4% | $251M | +2.0% |
| Feb 21, 2025 | $1.11 | $1.03 | -7.2% | $240M | -2.0% |
| Oct 25, 2024 | $1.11 | $1.13 | +1.8% | $240M | +2.1% |
| Jul 26, 2024 | $1.03 | $1.09 | +5.8% | $234M | -2.3% |
| May 3, 2024 | $0.98 | $1.03 | +5.1% | $240M | +3.1% |
| Feb 16, 2024 | $0.93 | $0.95 | +2.2% | $229M | -2.5% |
| Oct 27, 2023 | $0.97 | $1.04 | +7.2% | $230M | -3.0% |
BCPC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Feb 13, 2026 | Tignor Michael Brentofficer: SVP & Chief HR Officer | Tax | 991 | $178.68 |
| Feb 13, 2026 | Reid Martin Lutherofficer: SVP Chief Supply Chain Officer | Tax | 1,085 | $178.68 |
| Feb 13, 2026 | Tignor Michael Brentofficer: SVP & Chief HR Officer | Grant | 4,400 | $178.68 |
| Feb 13, 2026 | Reid Martin Lutherofficer: SVP Chief Supply Chain Officer | Tax | 116 | $177.49 |
| Feb 13, 2026 | Tignor Michael Brentofficer: SVP & Chief HR Officer | Tax | 165 | $177.49 |
| Feb 13, 2026 | Bengtsson Carl Martinofficer: EVP & Chief Financial Officer | Grant | 13,200 | $178.68 |
| Feb 13, 2026 | Graham Georgeofficer: SVP and Chief R&D Officer | Grant | 700 | — |
| Feb 13, 2026 | Backus William A.officer: VP & Chief Accounting Officer | Grant | 1,664 | — |
| Feb 13, 2026 | Fish Kathleen Bdirector | Grant | 870 | — |
| Feb 13, 2026 | Bengtsson Carl Martinofficer: EVP & Chief Financial Officer | Grant | 3,610 | — |
| Feb 13, 2026 | van Gunsteren Job Leonardofficer: SVP and GM, Specialty Products | Tax | 756 | $178.68 |
| Feb 13, 2026 | Boned Fredericofficer: SVP/GM, Human Nutri. & Health | Grant | 2,870 | — |
| Feb 13, 2026 | Miyata Hatsukiofficer: EVP, CLO, & Secretary | Grant | 6,300 | $178.68 |
| Feb 13, 2026 | Miyata Hatsukiofficer: EVP, CLO, & Secretary | Grant | 1,710 | — |
| Feb 13, 2026 | Bengtsson Carl Martinofficer: EVP & Chief Financial Officer | Tax | 2,416 | $178.68 |
Source: BCPC SEC Form 4 filings, latest Feb 13, 2026. For informational purposes only — not investment advice.
See the full BCPC insider & 13F page →Balchem Corporation company profile
Overview
Balchem Corporation (NASDAQ:BCPC) is a specialty chemicals company founded in 1967 and headquartered in New Hampton, New York. The company has been publicly traded since 1986 and operates as a developer, manufacturer, and marketer of specialty performance ingredients and products. Balchem serves diverse end markets including nutritional supplements, food and beverage, pharmaceuticals, animal health, medical device sterilization, plant nutrition, and industrial applications across the United States and internationally.
Business
Balchem operates in the specialty chemicals industry, focusing on advanced ingredient technologies that enhance nutrition, health, and performance across multiple sectors. The company's core competency lies in microencapsulation technology and chelation chemistry, which are sophisticated processes that protect, deliver, and enhance the bioavailability of nutrients and active ingredients. The company operates through three primary business segments: 1. **Human Nutrition & Health (approximately 60% of revenue)**: This segment supplies specialty ingredients to the food, beverage, and nutritional supplement industries. Key products include VitaCholine (a premium choline nutrient essential for brain health and development), K2VITAL (vitamin K2 for bone and cardiovascular health), and Optifolin+ (a bioactive folate ingredient). The segment also produces microencapsulated powders, flavor delivery systems, and various food system solutions like ice cream bases and chocolate systems. 2. **Animal Nutrition & Health (approximately 25% of revenue)**: This division provides nutritional solutions for livestock and companion animals. Products include AminoShure (rumen-protected amino acids for dairy cattle), choline chloride for monogastric animals, and chelated mineral supplements that enhance nutrient absorption. The microencapsulation technology protects nutrients from degradation in the animal's digestive system, ensuring better delivery and efficacy. 3. **Specialty Products (approximately 15% of revenue)**: This segment offers ethylene oxide for medical device sterilization in healthcare settings, propylene oxide as a fumigant for food preservation, and chelated minerals for high-value crop nutrition. The sterilization products are critical for ensuring medical device safety in hospitals and healthcare facilities. Balchem's technologies essentially solve the problem of nutrient stability and bioavailability - ensuring that vitamins, minerals, and other active ingredients reach their intended targets in the body or application without degrading during storage, processing, or digestion.
Revenue model
Balchem generates revenue primarily through product sales of its specialty chemical ingredients and formulated products. The company operates a B2B model, selling to manufacturers, distributors, and formulators who incorporate Balchem's ingredients into their final products. The company's customers include major food and beverage manufacturers, nutritional supplement companies, animal feed producers, pharmaceutical companies, and medical device manufacturers. Revenue is generated through direct sales contracts, with pricing typically based on ingredient specifications, volume commitments, and market conditions. Key factors that can increase margins include: **Raw material cost deflation** (as seen in recent quarters where lower input costs expanded gross margins by over 200 basis points), **favorable product mix** toward higher-value specialty nutrients like VitaCholine and K2VITAL, **successful pricing actions** during inflationary periods, and **operational efficiency improvements** from manufacturing scale and integration of acquisitions. Factors that can pressure margins include: **Raw material cost inflation** (particularly for key inputs like methanol and other chemical feedstocks), **competitive pricing pressure** in commodity-like segments, **unfavorable foreign exchange rates** (given international operations), **supply chain disruptions**, and **customer inventory destocking cycles** that can temporarily reduce demand. The company has demonstrated pricing power during inflationary periods, successfully passing through cost increases while maintaining customer relationships, indicating strong value proposition of its specialized ingredients. Balchem's business model benefits from **recurring revenue characteristics** as its ingredients are essential inputs for customers' ongoing production, creating relatively stable demand patterns despite some cyclical variations in end markets.
Competitive moat
Balchem possesses a moderate to strong competitive moat built on several key factors. The company's primary moat stems from its **proprietary microencapsulation and chelation technologies**, which represent significant barriers to entry requiring specialized knowledge, equipment, and years of development. These technologies are protected by patents and trade secrets, and the company continues investing in R&D to maintain its technological edge. The company benefits from **high switching costs** for customers, as Balchem's ingredients are often integral to customers' formulations and products. Changing suppliers would require extensive reformulation, testing, and regulatory approvals, particularly in highly regulated industries like pharmaceuticals and medical devices. This creates customer stickiness and recurring revenue streams. **Regulatory barriers** provide additional protection, especially in the medical device sterilization business where Balchem's ethylene oxide products must meet strict FDA and healthcare industry standards. The company's established relationships with healthcare providers and medical device manufacturers create significant barriers for new entrants. However, the moat faces potential challenges from **larger chemical companies** that could develop competing technologies or acquire smaller specialty chemical firms. **Generic competition** exists in some product lines, particularly in more commoditized segments like basic choline chloride. The company also faces **substitution risk** from alternative ingredients or technologies that could replace its products. The strength of Balchem's moat varies by segment, with the Human Nutrition & Health segment having the strongest moat due to branded ingredients like VitaCholine and K2VITAL, while the Specialty Products segment faces more commodity-like competition. Overall, the moat appears sustainable but requires continued innovation and customer relationship management to maintain competitive advantages.
Risks & safety
**Overall Assessment**: Balchem demonstrates strong financial health with solid margins of safety across multiple metrics. **Liquidity and Solvency**: - Strong current ratio of 2.44x indicating excellent short-term liquidity - Healthy cash position of $50 million with positive free cash flow generation - Low debt-to-equity ratio of 0.17x showing conservative capital structure - Strong operating cash flow of $182 million annually provides financial flexibility **Valuation Metrics**: - P/E ratio of 36.3x appears elevated for a specialty chemicals company - EV/EBITDA of 22.4x suggests premium valuation - Price-to-book ratio of 4.5x indicates market confidence but limited asset-based downside protection - Graham number of $30.94 vs current price of $154 suggests significant overvaluation by traditional value metrics **Other Considerations**: - Consistent profitability and EBITDA growth over 20 consecutive quarters - Strong free cash flow conversion supporting dividend payments and debt reduction - Minimal exposure to cyclical end markets provides earnings stability - However, high valuation multiples leave limited margin for error if growth disappoints
Recent development
Over the past few years, Balchem has executed several strategic initiatives to strengthen its market position and expand its product portfolio. The company completed two significant acquisitions - Kappa Bioscience and Bergstrom Nutrition - which added vitamin K2 and MSM (methylsulfonylmethane) capabilities to its human nutrition portfolio. These acquisitions have been successfully integrated and are contributing to growth in the Human Nutrition & Health segment. The company has invested heavily in **capacity expansion**, particularly increasing VitaCholine manufacturing capacity by 50% to meet growing demand for this premium choline ingredient. This expansion supports the company's strategy of focusing on higher-value, differentiated products rather than commodity chemicals. **New product development** has been a key focus, with recent launches including K2VITAL DELTA Fermented (a next-generation vitamin K2 product), VitaCholine Pro-Flo (an improved formulation), Optifolin+ (targeting the $1.5 billion folic acid market), and AminoShure-XL (a next-generation rumen-protected amino acid for dairy cattle). The company targets having new products represent 28% of total sales, indicating strong innovation pipeline. Balchem has also increased its **marketing and consumer awareness efforts**, including partnerships with high-profile organizations like the New York Jets and Bayern Munich women's soccer team to promote its VitaCholine and K2VITAL brands. The company is expanding into social media marketing and targeting anti-aging and nutritional supplement markets. **Sustainability initiatives** have become increasingly important, with the company committing to 25% reductions in greenhouse gas emissions and water usage by 2030. This positioning helps with customer relationships and regulatory compliance as ESG considerations become more important in B2B purchasing decisions.
BCPC company profile · for informational purposes only — not investment advice.
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