Stock Analysis on Net
Stock Analysis on Net

Mosaic Co. (NYSE:MOS)

This company has been moved to the archive! The financial data has not been updated since August 2, 2022.

Analysis of Goodwill and Intangible Assets

Microsoft Excel

Adjustments to Financial Statements: Removal of Goodwill

Mosaic Co., adjustments to financial statements

US$ in thousands

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Adjustment to Total Assets
Total assets (as reported) 22,036,400 19,789,800 19,298,500 20,119,200 18,633,400
Less: Goodwill 1,172,200 1,173,000 1,156,900 1,707,500 1,693,600
Total assets (adjusted) 20,864,200 18,616,800 18,141,600 18,411,700 16,939,800
Adjustment to Total Mosaic Stockholders’ Equity
Total Mosaic stockholders’ equity (as reported) 10,604,100 9,581,400 9,185,500 10,397,300 9,617,500
Less: Goodwill 1,172,200 1,173,000 1,156,900 1,707,500 1,693,600
Total Mosaic stockholders’ equity (adjusted) 9,431,900 8,408,400 8,028,600 8,689,800 7,923,900
Adjustment to Net Earnings (loss) Attributable To Mosaic
Net earnings (loss) attributable to Mosaic (as reported) 1,630,600 666,100 (1,067,400) 470,000 (107,200)
Add: Impairment of goodwill — — 588,600 — —
Net earnings (loss) attributable to Mosaic (adjusted) 1,630,600 666,100 (478,800) 470,000 (107,200)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Mosaic Co., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Goodwill (Summary)

Mosaic Co., adjusted financial ratios

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Net Profit Margin
Reported net profit margin 13.20% 7.67% -11.98% 4.90% -1.45%
Adjusted net profit margin 13.20% 7.67% -5.38% 4.90% -1.45%
Total Asset Turnover
Reported total asset turnover 0.56 0.44 0.46 0.48 0.40
Adjusted total asset turnover 0.59 0.47 0.49 0.52 0.44
Financial Leverage
Reported financial leverage 2.08 2.07 2.10 1.94 1.94
Adjusted financial leverage 2.21 2.21 2.26 2.12 2.14
Return on Equity (ROE)
Reported ROE 15.38% 6.95% -11.62% 4.52% -1.11%
Adjusted ROE 17.29% 7.92% -5.96% 5.41% -1.35%
Return on Assets (ROA)
Reported ROA 7.40% 3.37% -5.53% 2.34% -0.58%
Adjusted ROA 7.82% 3.58% -2.64% 2.55% -0.63%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

Financial ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Mosaic Co. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Mosaic Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Mosaic Co. adjusted financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Mosaic Co. adjusted ROE improved from 2019 to 2020 and from 2020 to 2021.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Mosaic Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.

Mosaic Co., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net earnings (loss) attributable to Mosaic 1,630,600 666,100 (1,067,400) 470,000 (107,200)
Net sales 12,357,400 8,681,700 8,906,300 9,587,300 7,409,400
Profitability Ratio
Net profit margin1 13.20% 7.67% -11.98% 4.90% -1.45%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted net earnings (loss) attributable to Mosaic 1,630,600 666,100 (478,800) 470,000 (107,200)
Net sales 12,357,400 8,681,700 8,906,300 9,587,300 7,409,400
Profitability Ratio
Adjusted net profit margin2 13.20% 7.67% -5.38% 4.90% -1.45%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Net profit margin = 100 × Net earnings (loss) attributable to Mosaic ÷ Net sales
= 100 × 1,630,600 ÷ 12,357,400 = 13.20%

2 Adjusted net profit margin = 100 × Adjusted net earnings (loss) attributable to Mosaic ÷ Net sales
= 100 × 1,630,600 ÷ 12,357,400 = 13.20%

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by revenue. Mosaic Co. adjusted net profit margin ratio improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Total Asset Turnover

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net sales 12,357,400 8,681,700 8,906,300 9,587,300 7,409,400
Total assets 22,036,400 19,789,800 19,298,500 20,119,200 18,633,400
Activity Ratio
Total asset turnover1 0.56 0.44 0.46 0.48 0.40
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Net sales 12,357,400 8,681,700 8,906,300 9,587,300 7,409,400
Adjusted total assets 20,864,200 18,616,800 18,141,600 18,411,700 16,939,800
Activity Ratio
Adjusted total asset turnover2 0.59 0.47 0.49 0.52 0.44

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Total asset turnover = Net sales ÷ Total assets
= 12,357,400 ÷ 22,036,400 = 0.56

2 Adjusted total asset turnover = Net sales ÷ Adjusted total assets
= 12,357,400 ÷ 20,864,200 = 0.59

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Mosaic Co. adjusted total asset turnover ratio deteriorated from 2019 to 2020 but then improved from 2020 to 2021 exceeding 2019 level.

Adjusted Financial Leverage

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Total assets 22,036,400 19,789,800 19,298,500 20,119,200 18,633,400
Total Mosaic stockholders’ equity 10,604,100 9,581,400 9,185,500 10,397,300 9,617,500
Solvency Ratio
Financial leverage1 2.08 2.07 2.10 1.94 1.94
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted total assets 20,864,200 18,616,800 18,141,600 18,411,700 16,939,800
Adjusted total Mosaic stockholders’ equity 9,431,900 8,408,400 8,028,600 8,689,800 7,923,900
Solvency Ratio
Adjusted financial leverage2 2.21 2.21 2.26 2.12 2.14

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 Financial leverage = Total assets ÷ Total Mosaic stockholders’ equity
= 22,036,400 ÷ 10,604,100 = 2.08

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted total Mosaic stockholders’ equity
= 20,864,200 ÷ 9,431,900 = 2.21

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Mosaic Co. adjusted financial leverage ratio decreased from 2019 to 2020 and from 2020 to 2021.

Adjusted Return on Equity (ROE)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net earnings (loss) attributable to Mosaic 1,630,600 666,100 (1,067,400) 470,000 (107,200)
Total Mosaic stockholders’ equity 10,604,100 9,581,400 9,185,500 10,397,300 9,617,500
Profitability Ratio
ROE1 15.38% 6.95% -11.62% 4.52% -1.11%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted net earnings (loss) attributable to Mosaic 1,630,600 666,100 (478,800) 470,000 (107,200)
Adjusted total Mosaic stockholders’ equity 9,431,900 8,408,400 8,028,600 8,689,800 7,923,900
Profitability Ratio
Adjusted ROE2 17.29% 7.92% -5.96% 5.41% -1.35%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 ROE = 100 × Net earnings (loss) attributable to Mosaic ÷ Total Mosaic stockholders’ equity
= 100 × 1,630,600 ÷ 10,604,100 = 15.38%

2 Adjusted ROE = 100 × Adjusted net earnings (loss) attributable to Mosaic ÷ Adjusted total Mosaic stockholders’ equity
= 100 × 1,630,600 ÷ 9,431,900 = 17.29%

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Mosaic Co. adjusted ROE improved from 2019 to 2020 and from 2020 to 2021.

Adjusted Return on Assets (ROA)

Microsoft Excel
Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
As Reported
Selected Financial Data (US$ in thousands)
Net earnings (loss) attributable to Mosaic 1,630,600 666,100 (1,067,400) 470,000 (107,200)
Total assets 22,036,400 19,789,800 19,298,500 20,119,200 18,633,400
Profitability Ratio
ROA1 7.40% 3.37% -5.53% 2.34% -0.58%
Adjusted for Goodwill
Selected Financial Data (US$ in thousands)
Adjusted net earnings (loss) attributable to Mosaic 1,630,600 666,100 (478,800) 470,000 (107,200)
Adjusted total assets 20,864,200 18,616,800 18,141,600 18,411,700 16,939,800
Profitability Ratio
Adjusted ROA2 7.82% 3.58% -2.64% 2.55% -0.63%

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).

2021 Calculations

1 ROA = 100 × Net earnings (loss) attributable to Mosaic ÷ Total assets
= 100 × 1,630,600 ÷ 22,036,400 = 7.40%

2 Adjusted ROA = 100 × Adjusted net earnings (loss) attributable to Mosaic ÷ Adjusted total assets
= 100 × 1,630,600 ÷ 20,864,200 = 7.82%

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Mosaic Co. adjusted ROA improved from 2019 to 2020 and from 2020 to 2021.