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Cabot Corporation operates as a specialty chemicals and performance materials company. It operates through two segments, Reinforcement Materials and Performance Chemicals. The company offers reinforcing carbons that are used in tires as a rubber reinforcing agent and performance additive, as well as in industrial products, such as hoses, belts, extruded profiles, and molded goods; and engineered elastomer composites solutions. It also provides specialty carbons for use in inks, coatings, plastics, adhesives, toners, batteries, and displays; conductive additives and fumed alumina used in lead acid and lithium-ion batteries for electric vehicles; fumed silica used in adhesives, sealants, cosmetics, batteries, inks, toners, silicone elastomers, coatings, polishing slurries, and pharmaceuticals; and fumed alumina for use in various products, including inkjet media, lighting, coatings, cosmetics, and polishing slurries. In addition, it offers aerogel, a hydrophobic, silica-based particle to use in various thermal insulation and specialty chemical applications; masterbatch and conductive compound products that are used in automotive, industrial, packaging, infrastructure, agriculture, consumer products, and electronics industries; and inkjet colorants for inkjet printing applications, as well as carbon nanotubes and fumed metal oxides. The company sells its products through distributors and sales representatives in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. Cabot Corporation was founded in 1882 and is headquartered in Boston, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $3.7B | $795M | $331M | $391M | 19.4% | -7.0% | -12.9% |
| 2024 | $4.0B | $761M | $380M | $451M | 23.9% | 1.6% | -14.6% |
| 2023 | $3.9B | $685M | $445M | $351M | 31.6% | -9.0% | 112.9% |
| 2022 | $4.3B | $537M | $209M | $-111M | 20.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 4,321 | 3,931 | 3,994 | 3,713 |
| Cost Of Revenue | 3,436 | 3,092 | 3,034 | 2,773 |
| Gross Profit | 885 | 839 | 960 | 940 |
| Operating Expense | 313 | 310 | 346 | 319 |
| Operating Income | 572 | 529 | 614 | 621 |
| EBITDA | 537 | 685 | 761 | 795 |
| EBIT | 391 | 541 | 610 | 641 |
| Pretax Income | 335 | 451 | 529 | 565 |
| Tax Provision | 102 | -28 | 111 | 196 |
| Net Income | 209 | 445 | 380 | 331 |
| Net Income Common Stockholders | 206 | 437 | 374 | 326 |
| Total Expenses | 3,749 | 3,402 | 3,380 | 3,092 |
| Interest Expense | 56 | 90 | 81 | 76 |
| Interest Income | 11 | 31 | 32 | 27 |
| Research And Development | 55 | 57 | 63 | 59 |
| Selling General And Administration | 258 | 253 | 283 | 260 |
| Normalized EBITDA | 720 | 688 | 761 | 795 |
| Normalized Income | 336.28 | 447.37 | 380 | 331 |
| Basic EPS | 3.72 | 8.06 | 7 | 6.07 |
| Diluted EPS | 3.62 | 7.73 | 6.72 | 6.02 |
| Tax Effect Of Unusual Items | -55.72 | -0.63 | 0 | 0 |
| Tax Rate For Calcs | 0.30 | 0.21 | 0.21 | 0.35 |
| Total Unusual Items | -183 | -3 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | -183 | -3 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 209 | 445 | 380 | 331 |
| Reconciled Depreciation | 146 | 144 | 151 | 154 |
| Reconciled Cost Of Revenue | 3,436 | 3,092 | 3,034 | 2,773 |
| Net Interest Income | -45 | -59 | -49 | -49 |
| Net Income From Continuing And Discontinued Operation | 209 | 445 | 380 | 331 |
| Total Operating Income As Reported | 389 | 526 | 614 | 621 |
| Diluted Average Shares | 56.90 | 56.50 | 55.70 | 54.20 |
| Basic Average Shares | 56.25 | 55.24 | 54.30 | 53.70 |
| Diluted NI Availto Com Stockholders | 206 | 437 | 374 | 326 |
| Average Dilution Earnings | 0 | 0 | 0 | 0 |
| Otherunder Preferred Stock Dividend | 3 | 8 | 6 | 5 |
| Minority Interests | -34 | -39 | -44 | -45 |
| Net Income Including Noncontrolling Interests | 243 | 484 | 424 | 376 |
| Net Income Continuous Operations | 243 | 484 | 424 | 376 |
| Earnings From Equity Interest Net Of Tax | 10 | 5 | 6 | 7 |
| Other Income Expense | -192 | -19 | -36 | -7 |
| Other Non Operating Income Expenses | -9 | -16 | -36 | -7 |
| Special Income Charges | -183 | -3 | 0 | 0 |
| Gain On Sale Of Ppe | 0 | 0 | 0 | 0 |
| Gain On Sale Of Business | -207 | -3 | 0 | 0 |
| Restructuring And Mergern Acquisition | -24 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | -45 | -59 | -49 | -49 |
| Interest Expense Non Operating | 56 | 90 | 81 | 76 |
| Interest Income Non Operating | 11 | 31 | 32 | 27 |
| Operating Revenue | 4,321 | 3,931 | 3,994 | 3,713 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cabot Corporationthis co. | CBT | $4.0B | 13.24↓ discount | 2.51 | 19.4% | 6.56 |
| Perimeter Solutions, Inc. | PRM | $5.0B | - | 4.01 | -18.2% | -39.77 |
| USA Rare Earth, Inc. | USAR | $4.8B | - | 6.62 | -60.2% | -96.24 |
| Constellium SE | CSTM | $4.4B | 16.79 | 4.58 | 28.1% | 7.60 |
| United States Lime & Minerals, Inc. | USLM | $3.7B |
| 27.46 |
| 5.82 |
| 21.3% |
| 18.03 |
| NovaGold Resources Inc. | NG | $3.4B | - | 7.70 | -57.8% | -109.35 |
| Avient Corporation | AVNT | $3.3B | 40.65 | 1.40 | 3.4% | 8.87 |
| Perpetua Resources Corp. | PPTA | $3.3B | - | 3.78 | - | -20.07 |
| Titan America SA | TTAM | $3.0B | 15.91 | 2.87 | 17.9% | 8.97 |
| Peer Median | - | 22.12 | 4.30 | 3.4% | -6.24 | |