TacticScaleWhat Mosaic Does & How It Makes Money (MOS)
Updated October 2026 · reflects Mosaic's latest reported financials
Major miner and producer of phosphate and potash fertilizers. Mosaic makes money by mining and processing phosphate and potash into fertilizers and feed ingredients.
How Mosaic makes money
Mosaic makes money by mining and processing phosphate and potash into fertilizers and feed ingredients. It sells them to wholesale distributors, retailers, cooperatives, crop nutrient makers and industrial customers, and also exports them, including through its Brazilian distribution business.
What Mosaic does
The Mosaic Company, headquartered in Tampa, Florida and incorporated in 1987, is one of the largest producers of phosphate and potash, two of the main nutrients in crop fertilizers. It reports three segments. Phosphates mines phosphate rock and makes products such as DAP, MAP and its MicroEssentials product. Potash mines and processes potash and also sells the K-Mag brand. Mosaic Fertilizantes runs mines, chemical plants, blending and bagging facilities, port terminals and warehouses in Brazil. Besides crop fertilizers, Mosaic sells feed phosphates under the Biofos and Nexfos brands, industrial potash for de-icing and water softening, and phosphogypsum. It sells to distributors, retail chains, cooperatives and national accounts, and exports widely across the Americas and Asia. Because its products are commodities, results depend on global crop nutrient demand and prices.
Products & services
- Diammonium phosphate (DAP) and monoammonium phosphate (MAP)
- MicroEssentials ammoniated phosphate fertilizer
- Potash (muriate of potash)
- K-Mag potash magnesia product
- Biofos and Nexfos feed phosphates
- Blended crop nutrients
What is Mosaic worth?
On an owner-earnings DCF, Mosaic's most-likely value is about $14 versus a recent price near $19 (25% above fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$10) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
⚠ High leverage — net debt is 15.5× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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