Balchem Corp filed its 10-Q with the SEC, and its figures are now in our data. Growth is coming with wider margins, so profit is rising faster than sales. Revenue over the twelve months to Q3 2026 was $1.1 billion, which rose 9.4% on the year before. That growth rate was down 0.7 percentage points on the rate a quarter earlier.
Profitability
The business is profitable. The trailing gross margin was 36.5%. The trailing operating margin was 20.7%, up 0.5 percentage points from a year earlier. Meanwhile, the trailing net margin was 15.4%. Net income over the twelve months was $170.9 million, which rose 14.5% on the year before.
Cash flow
Cash generation improved. Operating cash flow over the twelve months was $223.8 million, up 11.0% on the year before. Capital spending, estimated from depreciation because the company no longer reports it in a standard form, was about $48.8 million. At the same time, free cash flow, operating cash flow less that estimate, was about $175.0 million.
The share base
The average diluted share count fell 1.6% over the year.
In context
Measured against its own history: today’s free-cash-flow margin of 15.8% is higher than 80% of the company’s own past quarterly readings, which have ranged from 9.3% to 19.0%. Today’s operating margin of 20.7% is above every past reading (14.9% to 20.4%). Today’s twelve-month revenue growth rate of 9.4% is higher than 63% of past readings (−9.6% to 77.3%).
What it means for value
For valuation, the figures matter through our model. In our model, growth 5 percentage points lower would lower the value by 25.0%, and 5 percentage points higher would raise it by 32.5%. A free-cash-flow margin 1 percentage point lower would lower it by 6.4%.
What to watch
The next filing will show whether the trends above continue, slow or reverse.
