Balchem
BCPCNASDAQUSD
- Source valuation snapshot. Not a live recalculation.
- Latest filed annual earnings; price snapshot date unavailable. Not forward P/E.
- Diluted earnings per share from the latest filed annual.
- $173.54 Prior regular-session close from the quote source.
- $170.78–$174.12 Regular-session low and high so far today.
- 194.5K Regular-session shares traded · Nov 11, 4:00 PM ET.
- Feb 19 projected Projected for 2027-02-19 from the company’s own results filings (SEC 8-K Item 2.02). The company has not confirmed the date.
- $147.18–$186.15 52-week trading low and high returned by the quote source.
Understand the Business
Why the Stock Moved
Period-matched expectations history is not yet available. Current metrics are not a substitute for a historical explanation.
The core investment thesis
Own BCPC if Balchem turns proprietary formulation, microencapsulation and chelation manufacturing into recurring premium ingredient sales with strong cash conversion — protecting pricing and margins in human and animal nutrition and enabling disciplined M&A to extend growth.
BCPC price history
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Investment thesis
What must happen next
Balchem's specialized manufacturing (microencapsulation, spray-dried and emulsified powders, extrusion and blended lipid systems) creates technical switching costs that sustain above-industry gross margins and protect pricing power in Human Nutrition and Food Ingredients.StrengtheningMateriality: High
Gross margin % of net sales 35.7% for fiscal 2025 (MD&A: "Gross margin $370,633. If true, Balchem keeps product-level pricing and gross margins (~35% in 2025), enabling high operating margins and strong FCF; if false, commoditization or easier replication will force price cuts and margin erosion.
Watch: Large ingredient competitors develop equivalent encapsulation/service offerings and undercut pricing at scale.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Gross margin % of net sales 35.7% for fiscal 2025 (MD&A: "Gross margin $370,633.
Open source ↗EU anti-dumping duties on Chinese choline materially reduce low-cost imports into Europe, helping preserve Balchem's Animal Nutrition pricing and European volumes.StrengtheningMateriality: High
MD&A: European Commission imposed provisional duties July 1, 2025 and definitive duties Dec 19, 2025 (90.0% to 115.9%), with country-of-origin rules described. If duties keep cheaper competition out, Balchem can sustain ASPs and volumes in Europe; if duties are overturned circumvented or buyers substitute, ANH pricing and volumes could decline.
Watch: Chinese producers shift routing or processing locations to avoid duties (re‑origin strategies).
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
MD&A: European Commission imposed provisional duties July 1, 2025 and definitive duties Dec 19, 2025 (90.0% to 115.9%), with country-of-origin.
Open source ↗Balchem's end-to-end co-development capability (ideation through commercialization) produces repeatable new-product wins that keep Human Nutrition & Health revenue growth above company-average and support premium pricing.HoldingMateriality: Medium
MD&A: Human Nutrition and Health net sales $659,387 in 2025, up 9.9% vs 2024. Sustained new-product wins raise revenue growth and ASPs in a high-margin segment; failure would mean slower organic growth and weaker pricing leverage.
Watch: Large CPG customers internalize formulation or shift to global ingredient suppliers with broader portfolios.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
MD&A: Human Nutrition and Health net sales $659,387 in 2025, up 9.9% vs 2024.
Open source ↗Sustained operating cash flow provides Balchem the flexibility to fund targeted, accretive bolt-on acquisitions or buybacks without excessive leverage, supporting EPS growth beyond organic revenue expansion.StrengtheningMateriality: Medium
Operating cash flow increased to $216,556K in 2025 from $181,999K in 2024 (fundamentals). If OCF remains strong, management can compound EPS through disciplined M&A and buybacks; if cash generation weakens, growth will require more dilution or debt and EPS could suffer.
Watch: A large acquisition financed with high debt or significant dilution that underperforms.
Supporting sources
Source notes are factual paraphrases; read the original disclosures below.
Operating cash flow increased to $216,556K in 2025 from $181,999K in 2024 (fundamentals).
Open source ↗
Full investment case & evidence
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Original research
Balchem's specialized manufacturing (microencapsulation, spray-dried and emulsified powders, extrusion and blended lipid systems) creates technical switching costs that sustain above-industry gross margins and protect pricing power in Human Nutrition and Food Ingredients. If true, Balchem keeps product-level pricing and gross margins (~35% in 2025), enabling high operating margins and strong FCF; if false, commoditization or easier replication will force price cuts and margin erosion.
EU anti-dumping duties on Chinese choline materially reduce low-cost imports into Europe, helping preserve Balchem's Animal Nutrition pricing and European volumes. If duties keep cheaper competition out, Balchem can sustain ASPs and volumes in Europe; if duties are overturned circumvented or buyers substitute, ANH pricing and volumes could decline.
Balchem's end-to-end co-development capability (ideation through commercialization) produces repeatable new-product wins that keep Human Nutrition & Health revenue growth above company-average and support premium pricing. Sustained new-product wins raise revenue growth and ASPs in a high-margin segment; failure would mean slower organic growth and weaker pricing leverage.
Sustained operating cash flow provides Balchem the flexibility to fund targeted, accretive bolt-on acquisitions or buybacks without excessive leverage, supporting EPS growth beyond organic revenue expansion. If OCF remains strong, management can compound EPS through disciplined M&A and buybacks; if cash generation weakens, growth will require more dilution or debt and EPS could suffer.
All standing thesis claims
Original report summary
Balchem turns proprietary formulation, microencapsulation and chelation manufacturing into recurring premium ingredient sales with strong cash conversion — protecting pricing and margins in human and animal nutrition and enabling disciplined M&A to extend growth.
Bull case and bear case
Bull case and bear case for Balchem
Where the evidence on Balchem stands: Holding on the latest evidence (Nov 11, 2026). Of its 4 thesis points, 3 strengthening and 1 holding.
Bull case: what the evidence supports
Balchem's specialized manufacturing (microencapsulation, spray-dried and emulsified powders, extrusion and blended lipid systems) creates technical switching costs that sustain above-industry gross margins and protect pricing power in Human Nutrition and Food Ingredients.
EU anti-dumping duties on Chinese choline materially reduce low-cost imports into Europe, helping preserve Balchem's Animal Nutrition pricing and European volumes.
Balchem's end-to-end co-development capability (ideation through commercialization) produces repeatable new-product wins that keep Human Nutrition & Health revenue growth above company-average and support premium pricing.
Sustained operating cash flow provides Balchem the flexibility to fund targeted, accretive bolt-on acquisitions or buybacks without excessive leverage, supporting EPS growth beyond organic revenue expansion.
Bear case: what would count against it
Large ingredient competitors develop equivalent encapsulation/service offerings and undercut pricing at scale.
Chinese producers shift routing or processing locations to avoid duties (re‑origin strategies).
Large CPG customers internalize formulation or shift to global ingredient suppliers with broader portfolios.
Thesis-Break Engine
Thesis-break watch · Balchem
No break has crossed Balchem’s thesis. Its break conditions are checked against every new filing as it lands.
MARKET + FINANCIAL SNAPSHOT
The numbers behind the thesis
What Changed
- MixedReported results of operations (earnings release).
Balchem filed an SEC 8-K on 2026-10-23: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedReported results of operations (earnings release).
Balchem filed an SEC 8-K on 2026-07-31: Reported results of operations (earnings release). It is a dated development that tests the current thesis.
- MixedEntered a material definitive agreement.
Balchem filed an SEC 8-K on 2026-07-27: Entered a material definitive agreement. It is a dated development that tests the current thesis.
Risks / falsifiers
What could break the thesis
- Large ingredient competitors develop equivalent encapsulation/service offerings and undercut pricing at scale.
- Chinese producers shift routing or processing locations to avoid duties (re‑origin strategies).
- Large CPG customers internalize formulation or shift to global ingredient suppliers with broader portfolios.
- A large acquisition financed with high debt or significant dilution that underperforms.
BCPC news
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Financial statements
BCPC income statement
Annual filed results · USD · Oldest to newest. Margins are calculated from the reported figures.
BCPC: quick answers
- When does Balchem (BCPC) report earnings next?
- Balchem's next results are projected for February 19, 2027, from the dates of its own results filings with the SEC. The company has not confirmed the date. It last reported on October 23, 2026. Earnings calendar
- What is BCPC's short interest?
- As of October 30, 2026, 503,644 BCPC shares were sold short, 1.58% of its shares outstanding, down 2.6% from the count before. At the stock's average daily volume that is 1.5 days to cover. FINRA publishes the count twice a month. BCPC short interest history
- Have members of Congress traded BCPC?
- Reports made public in the last 90 days disclose 3 trades in BCPC by 2 filers: 2 purchases and 1 sale. They are filed under the STOCK Act by members of Congress, the President and senior officials. Every disclosed BCPC trade
- Which well-known investors own BCPC?
- 1 of the 37 well-known funds tracked here reported BCPC shares in their latest 13F filing. By share of the fund's portfolio: Bridgewater Associates (Ray Dalio), 0.0%. Fund portfolios
BCPC in well-known investors’ portfolios
1 of 37 funds reported BCPC shares in their latest 13F filing. A 13F shows quarter-end positions and arrives up to 45 days later.
| Fund | Of its portfolio | Value | Change | Quarter |
|---|---|---|---|---|
| Ray DalioBridgewater Associates | 0.01% | $2.3M | −22.5% | Q2 2026 |