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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 | 21.4% | -7.0% | -12.9% |
| 2024 | $4.0B | $761M | $380M | $451M | 26.7% | 1.6% | -14.6% |
| 2023 | $3.9B | $685M | $445M | $351M | 35.2% | -9.0% | 112.9% |
| 2022 | $4.3B | $537M | $209M | $-111M | 23.3% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,321 | 3,931 | 3,994 | 3,713 |
| Operating 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 |
| Research And Development | - | 55 | 57 | 63 | 59 |
| Selling General And Administration | - | 258 | 253 | 283 | 260 |
| Total Expenses | - | 3,749 | 3,402 | 3,380 | 3,092 |
| Operating Income | - | 572 | 529 | 614 | 621 |
| Total Operating Income As Reported | - | 389 | 526 | 614 | 621 |
| EBITDA | - | 537 | 685 | 761 | 795 |
| Normalized EBITDA | - | 720 | 688 | 761 | 795 |
| EBIT | - | 391 | 541 | 610 | 641 |
| Interest Income | - | 11 | 31 | 32 | 27 |
| Interest Expense | - | 56 | 90 | 81 | 76 |
| Net Interest Income | - | -45 | -59 | -49 | -49 |
| Other Non Operating Income Expenses | - | -9 | -16 | -36 | -7 |
| Other Income Expense | - | -192 | -19 | -36 | -7 |
| Interest Income Non Operating | - | 11 | 31 | 32 | 27 |
| Interest Expense Non Operating | - | 56 | 90 | 81 | 76 |
| Net Non Operating Interest Income Expense | - | -45 | -59 | -49 | -49 |
| Pretax Income | - | 335 | 451 | 529 | 565 |
| Tax Provision | - | 102 | -28 | 111 | 196 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -55.72 | -0.63 | 0 | 0 |
| Net Income Continuous Operations | - | 243 | 484 | 424 | 376 |
| Net Income From Continuing And Discontinued Operation | - | 209 | 445 | 380 | 331 |
| Net Income From Continuing Operation Net Minority Interest | - | 209 | 445 | 380 | 331 |
| Net Income | - | 209 | 445 | 380 | 331 |
| Net Income Common Stockholders | - | 206 | 437 | 374 | 326 |
| Net Income Including Noncontrolling Interests | - | 243 | 484 | 424 | 376 |
| Normalized Income | - | 336.28 | 447.37 | 380 | 331 |
| Diluted NI Availto Com Stockholders | - | 206 | 437 | 374 | 326 |
| Basic Average Shares | - | 56.25 | 55.24 | 54.30 | 53.70 |
| Diluted Average Shares | - | 56.90 | 56.50 | 55.70 | 54.20 |
| Reconciled Depreciation | - | 146 | 144 | 151 | 154 |
| Reconciled Cost Of Revenue | - | 3,436 | 3,092 | 3,034 | 2,773 |
| Total Unusual Items | - | -183 | -3 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | - | -183 | -3 | 0 | 0 |
| Minority Interests | - | -34 | -39 | -44 | -45 |
| Earnings From Equity Interest Net Of Tax | - | 10 | 5 | 6 | 7 |
| Special Income Charges | - | -183 | -3 | 0 | 0 |
| Gain On Sale Of Business | - | -207 | -3 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | -24 | 0 | 0 | - |
| Gain On Sale Of Ppe | 0 | 0 | - | - | - |
| Otherunder Preferred Stock Dividend | - | 3 | 8 | 6 | 5 |
| Average Dilution Earnings | - | 0 | 0 | 0 | 0 |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Cabot Corporationthis co. | CBT | $4.3B | 12.95↓ discount | 2.77 | 21.4% | 6.60 |
| Perimeter Solutions, Inc. | PRM | $5.0B | - | 4.39 | -18.2% | - |
| Constellium SE | CSTM | $4.9B | 18.03 | 5.17 | 28.7% | 7.99 |
| UFP Industries, Inc. | UFPI | $4.5B | 15.97 | 1.48 | 9.3% | 6.98 |
| Knife River Corporation | KNF | $4.3B | 27.69 |
| - |
| - |
| - |
| - |
| - |
| 2.65 |
| 9.6% |
| 11.13 |
| NovaGold Resources Inc. | NG | $3.6B | -37.96 | 21.94 | -57.8% | -45.70 |
| Calumet, Inc. | CLMT | $3.3B | -96.45 | -4.45 | 4.6% | 23.49 |
| Perpetua Resources Corp. | PPTA | $3.1B | -31.20 | 28.77 | -92.2% | - |
| Avient Corporation | AVNT | $3.1B | 38.23 | 1.32 | 3.4% | 11.66 |
| Peer Median | - | 15.97 | 3.52 | 4.0% | 9.56 | |