Cabot Financials
This page shows Cabot (CBT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Margin expansion and cash conversion let Cabot produce more operating profit on $281M less revenue while deleveraging.
From FY2024 to FY2025, revenue fell by$281M while operating income still edged higher by$7M , implying the profit engine is being protected by margin mix and cost structure rather than by volume. Because operating cash flow remained at$665M and long-term debt fell to$856M , that stronger margin shape is also showing up as cash that can actually retire obligations.
In FY2025, cash conversion was unusually strong: operating cash flow of
The balance sheet has become less debt-dependent since FY2022, with debt to equity improving from 1.2x to 0.6x as equity rebuilt. The current ratio eased from 2.1x to 1.6x, but the more important shift is that liquidity now sits alongside lower leverage rather than relying on it.
Financial Health Signals
Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →
Health score ≠ stock price. This rates the quality of Cabot's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Cabot has an operating margin of 16.7%, meaning the company retains $17 of operating profit per $100 of revenue. This results in a moderate score of 57/100, indicating healthy but not exceptional operating efficiency. This is up from 15.4% the prior year.
Cabot's revenue declined 7% year-over-year, from $4.0B to $3.7B. This contraction results in a growth score of 29/100.
Cabot carries a low D/E ratio of 0.55, meaning only $0.55 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 91/100, indicating a strong balance sheet with room for future borrowing.
Cabot's current ratio of 1.61 is below the typical benchmark, resulting in a score of 28/100. This tight liquidity could limit financial flexibility if cash inflows slow.
Cabot has a free cash flow margin of 10.5%, earning a moderate score of 51/100. The company generates positive cash flow after capital investments, but with room for improvement.
Cabot earns a strong 21.3% return on equity (ROE), meaning it generates $21 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 68/100. This is down from 26.7% the prior year.
Cabot scores 3.47, well above the 2.99 safe threshold. This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Cabot passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Cabot generates $2.01 in operating cash flow ($665.0M OCF vs $331.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Cabot earns $8.2 in operating income for every $1 of interest expense ($621.0M vs $76.0M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
Key Financial Metrics
Earnings & Revenue
Cabot generated $3.7B in revenue in fiscal year 2025. This represents a decrease of 7.0% from the prior year.
Cabot's EBITDA was $775.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1.3% from the prior year.
Cabot reported $331.0M in net income in fiscal year 2025. This represents a decrease of 12.9% from the prior year.
Cabot earned $6.02 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 10.4% from the prior year.
Cash & Balance Sheet
Cabot generated $391.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 13.3% from the prior year.
Cabot held $258.0M in cash against $856.0M in long-term debt as of fiscal year 2025.
Cabot paid $1.76 per share in dividends in fiscal year 2025. This represents an increase of 6.0% from the prior year.
Cabot had 53M shares outstanding in fiscal year 2025. This represents a decrease of 2.7% from the prior year.
Margins & Returns
Cabot's gross margin was 25.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 1.3 percentage points from the prior year.
Cabot's operating margin was 16.7% in fiscal year 2025, reflecting core business profitability. This is up 1.4 percentage points from the prior year.
Cabot's net profit margin was 8.9% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Cabot's ROE was 21.3% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 5.3 percentage points from the prior year.
Capital Allocation
Cabot invested $59.0M in research and development in fiscal year 2025. This represents a decrease of 6.3% from the prior year.
Cabot spent $168.0M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 2.3% from the prior year.
Cabot invested $274.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 13.7% from the prior year.
CBT Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $904.0M+6.5% | $849.0M-5.6% | $899.0M-2.6% | $923.0M-1.4% | $936.0M-2.0% | $955.0M-4.6% | $1.0B-1.5% | $1.0B |
| Cost of Revenue | $694.0M+8.8% | $638.0M-6.0% | $679.0M0.0% | $679.0M-2.3% | $695.0M-3.5% | $720.0M-5.4% | $761.0M+0.1% | $760.0M |
| Gross Profit | $210.0M-0.5% | $211.0M-4.1% | $220.0M-9.8% | $244.0M+1.2% | $241.0M+2.6% | $235.0M-2.1% | $240.0M-6.3% | $256.0M |
| R&D Expenses | $14.0M+7.7% | $13.0M-13.3% | $15.0M0.0% | $15.0M0.0% | $15.0M+7.1% | $14.0M-17.6% | $17.0M+6.3% | $16.0M |
| SG&A Expenses | $67.0M-2.9% | $69.0M+1.5% | $68.0M+9.7% | $62.0M-3.1% | $64.0M-3.0% | $66.0M-9.6% | $73.0M+7.4% | $68.0M |
| Operating Income | $129.0M0.0% | $129.0M-5.8% | $137.0M-18.0% | $167.0M+3.1% | $162.0M+4.5% | $155.0M+3.3% | $150.0M-12.8% | $172.0M |
| Interest Expense | $18.0M0.0% | $18.0M-10.0% | $20.0M+5.3% | $19.0M0.0% | $19.0M+5.6% | $18.0M-5.3% | $19.0M0.0% | $19.0M |
| Income Tax | $44.0M+18.9% | $37.0M-41.3% | $63.0M+46.5% | $43.0M-12.2% | $49.0M+19.5% | $41.0M+510.0% | -$10.0M-125.0% | $40.0M |
| Net Income | $68.0M-6.8% | $73.0M+69.8% | $43.0M-57.4% | $101.0M+7.4% | $94.0M+1.1% | $93.0M-32.1% | $137.0M+25.7% | $109.0M |
| EPS (Diluted) | $1.27-7.3% | $1.37 | N/A | $1.86+10.1% | $1.69+1.2% | $1.67 | N/A | $1.94 |
CBT Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $3.9B+3.7% | $3.8B-1.5% | $3.8B-0.6% | $3.8B+1.4% | $3.8B+3.9% | $3.6B-2.5% | $3.7B+4.4% | $3.6B |
| Current Assets | $1.5B+6.2% | $1.5B-5.3% | $1.5B-2.2% | $1.6B-1.9% | $1.6B+7.2% | $1.5B-6.8% | $1.6B+0.9% | $1.6B |
| Cash & Equivalents | $252.0M+9.6% | $230.0M-10.9% | $258.0M+7.9% | $239.0M+12.2% | $213.0M+16.4% | $183.0M-17.9% | $223.0M+13.2% | $197.0M |
| Inventory | $522.0M+3.8% | $503.0M-0.2% | $504.0M-5.1% | $531.0M-1.8% | $541.0M+0.9% | $536.0M-2.9% | $552.0M-0.2% | $553.0M |
| Accounts Receivable | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Goodwill | $136.0M0.0% | $136.0M+1.5% | $134.0M+0.8% | $133.0M+3.9% | $128.0M+0.8% | $127.0M-4.5% | $133.0M+0.8% | $132.0M |
| Total Liabilities | $2.3B+6.7% | $2.2B-3.7% | $2.3B-1.4% | $2.3B-2.6% | $2.4B+3.6% | $2.3B-1.5% | $2.3B+3.4% | $2.2B |
| Current Liabilities | $1.1B+22.2% | $874.0M-8.7% | $957.0M+29.3% | $740.0M-9.5% | $818.0M+9.5% | $747.0M-3.2% | $772.0M+7.7% | $717.0M |
| Long-Term Debt | $863.0M+1.1% | $854.0M-0.2% | $856.0M-22.5% | $1.1B+1.4% | $1.1B+0.1% | $1.1B+0.2% | $1.1B+0.4% | $1.1B |
| Total Equity | $1.6B-0.4% | $1.6B+1.6% | $1.6B+0.6% | $1.5B+8.0% | $1.4B+4.5% | $1.4B-4.1% | $1.4B+5.9% | $1.3B |
| Retained Earnings | $1.8B-0.1% | $1.8B+0.1% | $1.8B-0.6% | $1.8B+2.4% | $1.8B+1.7% | $1.8B+2.2% | $1.7B+3.5% | $1.7B |
CBT Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $77.0M-38.9% | $126.0M-42.5% | $219.0M-12.0% | $249.0M+241.1% | $73.0M-41.1% | $124.0M-39.2% | $204.0M-1.4% | $207.0M |
| Capital Expenditures | $45.0M-34.8% | $69.0M+7.8% | $64.0M+4.9% | $61.0M-15.3% | $72.0M-6.5% | $77.0M-16.3% | $92.0M+76.9% | $52.0M |
| Free Cash Flow | $32.0M-43.9% | $57.0M-63.2% | $155.0M-17.6% | $188.0M+18700.0% | $1.0M-97.9% | $47.0M-58.0% | $112.0M-27.7% | $155.0M |
| Investing Cash Flow | -$109.0M-58.0% | -$69.0M-16.9% | -$59.0M+9.2% | -$65.0M+7.1% | -$70.0M+32.7% | -$104.0M-16.9% | -$89.0M-74.5% | -$51.0M |
| Financing Cash Flow | $53.0M+157.6% | -$92.0M+37.0% | -$146.0M+20.2% | -$183.0M-1176.5% | $17.0M+170.8% | -$24.0M+73.0% | -$89.0M+32.1% | -$131.0M |
| Dividends Paid | $24.0M0.0% | $24.0M-4.0% | $25.0M+4.2% | $24.0M+4.3% | $23.0M-4.2% | $24.0M0.0% | $24.0M0.0% | $24.0M |
| Share Buybacks | $49.0M-5.8% | $52.0M+33.3% | $39.0M-2.5% | $40.0M-14.9% | $47.0M+11.9% | $42.0M-36.4% | $66.0M+34.7% | $49.0M |
CBT Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 23.2%-1.6pp | 24.9%+0.4pp | 24.5%-2.0pp | 26.4%+0.7pp | 25.8%+1.1pp | 24.6%+0.6pp | 24.0%-1.2pp | 25.2% |
| Operating Margin | 14.3%-0.9pp | 15.2%-0.1pp | 15.2%-2.8pp | 18.1%+0.8pp | 17.3%+1.1pp | 16.2%+1.2pp | 15.0%-1.9pp | 16.9% |
| Net Margin | 7.5%-1.1pp | 8.6%+3.8pp | 4.8%-6.2pp | 10.9%+0.9pp | 10.0%+0.3pp | 9.7%-3.9pp | 13.7%+3.0pp | 10.7% |
| Return on Equity | 4.3%-0.3pp | 4.6%+1.9pp | 2.8%-3.8pp | 6.6%-0.0pp | 6.6%-0.2pp | 6.8%-2.8pp | 9.6%+1.5pp | 8.1% |
| Return on Assets | 1.7%-0.2pp | 1.9%+0.8pp | 1.1%-1.5pp | 2.6%+0.2pp | 2.5%-0.1pp | 2.5%-1.1pp | 3.7%+0.6pp | 3.0% |
| Current Ratio | 1.45-0.2 | 1.67+0.1 | 1.61-0.5 | 2.13+0.2 | 1.96-0.0 | 2.00-0.1 | 2.08-0.1 | 2.22 |
| Debt-to-Equity | 0.550.0 | 0.54-0.0 | 0.55-0.2 | 0.72-0.0 | 0.76-0.0 | 0.80+0.0 | 0.76-0.0 | 0.80 |
| FCF Margin | 3.5%-3.2pp | 6.7%-10.5pp | 17.2%-3.1pp | 20.4%+20.3pp | 0.1%-4.8pp | 4.9%-6.3pp | 11.2%-4.1pp | 15.3% |
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Frequently Asked Questions
What is Cabot's annual revenue?
Cabot (CBT) reported $3.7B in total revenue for fiscal year 2025. This represents a -7.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Cabot's revenue growing?
Cabot (CBT) revenue declined by 7% year-over-year, from $4.0B to $3.7B in fiscal year 2025.
Is Cabot profitable?
Yes, Cabot (CBT) reported a net income of $331.0M in fiscal year 2025, with a net profit margin of 8.9%.
What is Cabot's EBITDA?
Cabot (CBT) had EBITDA of $775.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Cabot have?
As of fiscal year 2025, Cabot (CBT) had $258.0M in cash and equivalents against $856.0M in long-term debt.
What is Cabot's gross margin?
Cabot (CBT) had a gross margin of 25.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Cabot's operating margin?
Cabot (CBT) had an operating margin of 16.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Cabot's net profit margin?
Cabot (CBT) had a net profit margin of 8.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Does Cabot pay dividends?
Yes, Cabot (CBT) paid $1.76 per share in dividends during fiscal year 2025.
What is Cabot's return on equity (ROE)?
Cabot (CBT) has a return on equity of 21.3% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Cabot's free cash flow?
Cabot (CBT) generated $391.0M in free cash flow during fiscal year 2025. This represents a -13.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Cabot's operating cash flow?
Cabot (CBT) generated $665.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Cabot's total assets?
Cabot (CBT) had $3.8B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Cabot's capital expenditures?
Cabot (CBT) invested $274.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Cabot spend on research and development?
Cabot (CBT) invested $59.0M in research and development during fiscal year 2025.
What is Cabot's current ratio?
Cabot (CBT) had a current ratio of 1.61 as of fiscal year 2025, which is generally considered healthy.
What is Cabot's debt-to-equity ratio?
Cabot (CBT) had a debt-to-equity ratio of 0.55 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Cabot's return on assets (ROA)?
Cabot (CBT) had a return on assets of 8.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Cabot's Altman Z-Score?
Cabot (CBT) has an Altman Z-Score of 3.47, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Cabot's Piotroski F-Score?
Cabot (CBT) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Cabot's earnings high quality?
Cabot (CBT) has an earnings quality ratio of 2.01x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Cabot cover its interest payments?
Cabot (CBT) has an interest coverage ratio of 8.2x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Cabot?
Cabot (CBT) scores 54 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.