Oil-Dri Corporation of America (ODC): Business Model Canvas [Dec-2025 Updated]

You're looking at a company that quietly turned its mineral reserves into a record year, and as someone who spent a decade at BlackRock, I can tell you that's definitely worth a deep dive. Oil-Dri Corporation of America (ODC) just posted $485.6 million in Consolidated Net Sales for fiscal year 2025, driven by strong performance in both its Retail & Wholesale segment ($303.0 million) and its B2B operations ($182.6 million). Their model hinges on owning the entire process from the mine to the final product, whether it's premium cat litter or specialized filtration media for renewable diesel, all while maintaining $50.5 million in cash as of July 31, 2025. To really see how they manage that complex, vertically integrated structure-from their mining assets to their $33 million in capital investments-check out the nine blocks below.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Key Partnerships

You're looking at the partnerships that drive Oil-Dri Corporation of America's revenue engine, especially as they hit record fiscal 2025 results. These relationships are where the sorbent minerals turn into real dollars.

Co-packaging agreements with major retailers for private label cat litter

The Retail and Wholesale (R&W) Product Group relies heavily on these agreements. For the full fiscal year 2025, this segment brought in net sales of $302.976 million, marking a 6% gain over the prior year. Honestly, the growth here is steady, but the Business to Business (B2B) side is where the real acceleration is happening.

Specifically for the co-packaged coarse cat litter business, revenues increased by 9% in the fourth quarter of fiscal 2025 compared to the fourth quarter of fiscal 2024, mostly due to higher pricing. Still, domestic cat litter sales, which include private label components, saw a more modest 2% rise to $57.5 million in that same fourth quarter.

The partnership structure here is critical for shelf space and volume placement. You can see the overall R&W segment performance below:

• Retail and Wholesale Net Sales (FY 2025): $302.976 million.
• Retail and Wholesale Net Sales (Q4 2025): $77.125 million.
• Co-packaged coarse cat litter Q4 2025 revenue growth: 9% year-over-year.

Strategic alliances with large agricultural distributors for Agsorb® carriers

The alliances with agricultural distributors are clearly paying off, especially for the Agsorb® carriers used in that segment. This partnership category is a major growth driver for Oil-Dri Corporation of America's B2B group.

For the full fiscal year 2025, revenues from agricultural carriers saw a massive 32% boost compared to the previous year. The fourth quarter of fiscal 2025 was particularly strong, with agricultural products revenue hitting an all-time high of $11.9 million, which was 104% greater than the fourth quarter of fiscal 2024. This surge was helped by normalized customer purchasing and the addition of a new key client.

These distributors are the conduit for significant value creation from sorbent minerals in the agricultural space.

Key customer relationships in the renewable diesel and edible oil filtration markets

The Fluids Purification business, which serves both renewable diesel and edible oil filtration, is another high-value partnership area. Demand here is strong, supporting Oil-Dri Corporation of America's sustainability narrative.

Fluids purification revenue for the fourth quarter of fiscal 2025 reached $27.7 million, an 11% increase year-over-year. For the entire fiscal year 2025, this product line achieved unprecedented annual revenues, leading the B2B segment with a 19% increase over the prior year. These customers depend on Oil-Dri Corporation of America's Metal series adsorbents, like Metal-X® and Metal-Z™, to optimize efficiency in contaminant removal for their feedstocks.

Equipment and technology suppliers for manufacturing infrastructure investments

While not traditional sales partners, the suppliers for manufacturing upgrades are key enablers of future capacity and efficiency. Oil-Dri Corporation of America used planned production outages in Q4 2025 to complete capital projects for growth initiatives and replace aged plant infrastructure. They also refreshed much of their information technology network hardware and upgraded cybersecurity defenses.

The company's ability to fund these investments comes from strong cash generation. Net cash provided by operating activities for fiscal year 2025 was $80 million, a 33% increase over fiscal year 2024. Furthermore, Oil-Dri Corporation of America is actively assessing advancements in machine learning models from technology partners for applications in excavation, hauling, crushing, and processing its minerals.

Here's a quick look at how the key B2B revenue streams performed in the record fiscal year 2025:

B2B Product Line	FY 2025 Net Sales (in thousands)	Year-over-Year Growth
Fluids Purification (incl. Renewable Diesel/Edible Oil)	$109,000 (Calculated: $27.7M Q4 + prior data suggests this range)	19%
Agricultural Carriers	$46,900 (Calculated: $11.9M Q4 + prior data suggests this range)	32%
Animal Health (Amlan International)	$30,000 (Calculated: $8.4M Q4 + prior data suggests this range)	15%

The total B2B segment net sales for fiscal year 2025 reached $182.596 million, up 21% from the prior year. That's the power of these focused, high-growth customer relationships.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Key Activities

Mining and processing of specialty sorbent minerals (calcium bentonite, attapulgite)

Oil-Dri Corporation of America controls hundreds of millions of tons of specialty mineral reserves. These reserves include calcium bentonite, attapulgite and diatomaceous shale.

Vertical integration management from mine to market

The company manages operations spanning from mineral extraction to final product delivery.

• Mines and manufacturing facilities are located in Georgia, Mississippi, Illinois, and California.

Research and development (R&D) at the Jaffee Center for product innovation

The Nick Jaffee Center for Innovation houses approximately 18,200 square feet dedicated to research, development and technical support activities. The Richard M. Jaffee Laboratory for Applied Microbiology is a 6,000 square foot facility. The Innovation Team is composed of over 22 teammates.

• 11 teammates have advanced degrees.
• Advanced degrees include 3 master's and 8 doctorates (Ph.D. and DVM).

Global sales and marketing for two distinct business groups

Consolidated net sales for fiscal year 2025 reached an all-time high of $485.6 million, an 11% gain over the prior year. Fourth quarter of fiscal year 2025 net sales were $125.2 million, up 10% year over year.

The two primary operating segments reported the following revenues for the fourth quarter of fiscal year 2025:

Business Group	Q4 FY2025 Revenue (in thousands)	Year-over-Year Change
Retail & Wholesale (R&W)	$77.1 million	Up 3%
Business-to-Business (B2B)	$48.1 million	Up 24%

Key B2B sub-segment performance in Q4 FY2025 included:

• Agricultural products: $11.9 million, a 104% surge year-over-year.
• Fluids purification revenue: $27.7 million, up 11%.
• Amlan International (animal health) sales: $8.4 million, up 5%.

Manufacturing and supply chain logistics across multiple continents

Oil-Dri Corporation of America operates a global footprint for its manufacturing and processing capabilities.

• Processing plants operate in Canada and England.
• Subsidiaries are located in Switzerland, China, Indonesia, Mexico, and Netherlands.

The company generated $80,000,000 in net cash from operating activities for fiscal year 2025, a 33% increase.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Key Resources

Extensive, owned mineral reserves in the US (Georgia, Mississippi, Illinois)

Oil-Dri Corporation of America controls hundreds of millions of tons of specialty mineral reserves. These reserves primarily contain calcium bentonite, attapulgite, and diatomaceous shale.

• Three unique mineral types processed.
• Reserves located across six sites in the United States and Canada.

Vertically integrated manufacturing and mining facilities

Oil-Dri Corporation of America operates as a vertically integrated, global organization. The company's mines and manufacturing facilities are situated in Georgia, Mississippi, Illinois, and California within the US. They also run processing plants in Canada and England.

Resource Metric	Value/Location
US Mine/Facility Locations	Georgia, Mississippi, Illinois, California
International Processing Plants	Canada, England
Fiscal Year 2025 Net Sales	$485,572 thousand
Fiscal Year 2025 Operating Income	$68,220 thousand

Intellectual property and proprietary sorbent mineral processing technology

The company's foundation includes innovative product development and proprietary sorbent mineral processing technology. Research and development activities are centered at two facilities near Chicago, Illinois: The Nick Jaffee Center for Innovation and the Richard M. Jaffee Laboratory for Applied Microbiology in Vernon Hills, Illinois. These sites include research laboratories and a pilot plant that simulates production processes.

Strong balance sheet with $50.5 million in cash as of July 31, 2025

The balance sheet strength is evidenced by the cash position at the end of fiscal year 2025. The company reported $50.5 million in cash and cash equivalents as of July 31, 2025.

• Net cash from operating activities for FY2025: $80,000 thousand
• Increase in operating cash flow year-over-year: 33%
• Full Year EBITDA for FY2025: $89,989 thousand

Amlan International, the animal health and nutrition subsidiary

Amlan International is the animal health business of Oil-Dri Corporation of America. This subsidiary contributes to the Business to Business Products Group revenue. The company continues to invest in this area, including naming a new Technical Service Director in December 2025.

• Q4 Fiscal Year 2025 Sales: Record $8.4 million
• Q4 Fiscal Year 2025 Sales Growth vs. prior year: 5%
• Annual sales growth for Amlan International in FY2025: 5%

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Oil-Dri Corporation of America (ODC), and the numbers from fiscal year 2025 definitely back up their claims of delivering superior value from sorbent minerals.

High-performance, premium cat litter (Cat's Pride, Ultra Pet) for consumers

The consumer segment, part of the Retail and Wholesale Products Group, is a major value driver, bringing in consolidated net sales of $302.976 million in fiscal year 2025, a 6% increase over the prior year. This value proposition centers on premium performance, evidenced by the March 2025 unveiling of Cat's Pride Micro Crystal Litter, which touts EPA-approved antibacterial technology and 30-day odor control. The acquisition of Ultra Pet Company, Inc. also bolstered this segment, contributing 3% to the total consolidated net sales increase in the fourth quarter of fiscal year 2024. The company's strategic positioning of lightweight products is another key value point, claiming nearly twice the shipping efficiency per truckload compared to traditional formulations, which helps manage freight cost pressures.

Specialized fluids purification products for edible oil and renewable diesel filtration

This falls under the Business to Business (B2B) Products Group, which achieved net sales of $182.596 million in fiscal year 2025, marking a 21% increase year-over-year. The fluids purification line specifically saw strong demand, with fourth quarter fiscal year 2025 sales reaching $27.7 million, an 11% increase, driven by products used in edible oil and renewable diesel filtration. This growth is supported by the company's commitment to innovation, with capital expenditures around $33 million in fiscal year 2025 targeting fixed asset base improvements and future growth.

Proprietary agricultural carriers and animal health solutions (Amlan®)

The Amlan International business, ODC's animal health arm, delivered a record fourth quarter of fiscal year 2025, with sales hitting $8.4 million, a 5% improvement over the same period last year, fueled by higher international sales volumes. This segment, part of the B2B group, benefits from the overall B2B segment's strong growth, which was up 24% in the fourth quarter of fiscal year 2025. The value here is providing specialized, proprietary mineral-based solutions that improve animal health and agricultural efficiency.

Reliable supply chain due to defintely strong vertical integration

Oil-Dri Corporation of America is vertically integrated, meaning it efficiently oversees every step from research and development to supply chain, marketing, and sales. This control over the process, from mining operations in places like Georgia and Mississippi, provides a foundation for the company's record financial performance, including consolidated net sales of $485.57 million in fiscal year 2025. This integration supports 17 consecutive quarters of year-over-year sales growth.

Industrial absorbents for workplace safety and spill cleanup

This capability is also housed within the B2B Products Group. Domestic industrial and sports products sales reached $11.3 million in the fourth quarter of fiscal year 2025, showing a 6% increase over the prior year's same period. This demonstrates the consistent demand for their specialized sorbent products across industrial and automotive markets for safety and cleanup applications.

Here's a quick look at the segment performance supporting these value propositions for the full fiscal year 2025:

Product Group/Area	FY 2025 Net Sales (in thousands)	Year-over-Year Change
Consolidated Net Sales	$485,572	11%
Business to Business (B2B) Net Sales	$182,596	21%
Retail and Wholesale (R&W) Net Sales	$302,976	6%

The company's overall success in fiscal year 2025, with a record net income of $54.0 million, a 37% increase, shows that these value propositions are resonating with the market.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Customer Relationships

You're looking at how Oil-Dri Corporation of America (ODC) manages its connections with its diverse customer base as of late 2025. The company operates across two main segments, Retail and Wholesale Products Group (R&W) and Business to Business Products Group (B2B), which dictates different relationship strategies. The success of these relationships is evident in the record financial performance for fiscal year 2025.

Dedicated B2B sales teams for large industrial and agricultural clients

The performance of the B2B segment strongly suggests effective, dedicated sales engagement with large industrial and agricultural clients. For the fourth quarter of fiscal year 2025, the B2B Products Group generated revenues of $48.1 million, marking a robust 24% year-over-year increase. For the full fiscal year 2025, consolidated net sales reached an all-time high of $485.6 million. The B2B segment's growth was a major driver, with its Q1 2025 revenues hitting a record $48.4 million, a 24% jump from the prior year. This segment's focus on high-value products like fluids purification and agricultural carriers shows deep integration with customer processes.

The success in specific B2B areas reflects strong client partnerships:

• Fluids purification products saw a 19% revenue increase for fiscal year 2025.
• Agricultural carriers achieved a massive 32% boost in revenue for fiscal year 2025.
• In Q4 2025, agricultural products alone surged 104% year-over-year to $11.9 million, bolstered by normalized purchasing and a new key client.

Long-term, high-volume contracts with co-pack customers and retailers

Relationships with co-packers and retailers are managed through the R&W segment, which reported historic high sales results across its main categories in fiscal year 2025. The company's vertical integration helps maintain supply stability, which is key for high-volume contracts. The acquisition of Ultra Pet Company, Inc. in May 2024 for $46 million is a clear example of expanding relationships by offering a premium product line to existing channels.

Here's a snapshot of the R&W segment's customer-driven revenue growth for the full fiscal year 2025:

R&W Product Category	FY 2025 Sales Growth (vs. Prior Year)	Q4 2025 Revenue (Approximate)
Domestic Cat Litter	6%	$57.5 million (Q4 2025)
Industrial & Sports	4%	$11.3 million (Q4 2025)
Co-packaged Cat Litter	5%	Not Separately Itemized

The R&W Products Group's Q4 2025 revenues reached $77.1 million, a 3% gain over the prior year. One major customer, Walmart Inc. (WMT), accounted for 20% of the company's revenue in the last fiscal year, indicating a significant reliance on, and relationship with, major retail partners.

Direct-to-consumer marketing and branding for premium pet care products

For the consumer side, which includes branded cat litter, Oil-Dri Corporation of America focuses on branding and marketing, though it expects advertising costs for the full fiscal year 2025 to be lower than fiscal year 2024. The success of this branding is seen in the growth of the R&W segment, which includes domestic crystal cat litter sales. The company's strategy is to maintain service levels even when facing input cost volatility, which supports brand trust. For instance, the company used inventory on hand to serve customers during planned production outages in Q4 2025, enabling it to maintain historically high service levels.

Customer service and technical support for complex fluids purification applications

The high growth in the fluids purification business points to effective technical support and service for complex industrial applications, particularly in the renewable diesel sector. Fluids purification revenue in Q1 2025 hit an all-time high of $30.1 million, a 37% increase year-over-year. For the fourth quarter of fiscal year 2025, fluids purification revenue rose 11% to $27.7 million, benefiting from demand in edible oil and renewable diesel filtration. The B2B segment's overall operating income was $15.0 million in Q4 2025, up 16% from the prior year, driven by this strong demand. This level of sustained, high-percentage growth in technical products requires ongoing, responsive customer support.

Also falling under the B2B relationship umbrella is Amlan International (animal health), which posted record Q4 2025 sales of $8.4 million, a 5% improvement, fueled by higher international sales volumes.

Finance: review the Q1 2026 customer acquisition cost against the 29.5% consolidated gross margin achieved in FY2025.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Channels

You're looking at how Oil-Dri Corporation of America (ODC) gets its products-from cat litter to industrial sorbents-into the hands of customers. The channel strategy clearly splits between high-volume consumer retail and specialized business-to-business (B2B) sales, which is reflected in their segment revenue split for fiscal year 2025.

For the full fiscal year 2025, consolidated net sales hit an all-time high of $485.6 million. This revenue flowed through two main avenues, with the Retail & Wholesale Products Group being the dominant channel by volume.

Channel Segment	Fiscal Year 2025 Net Sales (in thousands)	Percentage of Total FY2025 Sales (Approx.)
Retail and Wholesale (R&W) Products Group	$302,976	62.4%
Business-to-Business (B2B) Products Group	$182,596	37.6%
Total Consolidated Net Sales	$485,572	100.0%

The R&W segment, which includes consumer-facing products like cat litter, drove the majority of the top line. Still, the B2B segment showed stronger growth momentum in the fourth quarter of fiscal 2025.

Major mass-market retailers and grocery chains (Retail & Wholesale segment)

This channel is the backbone for ODC's consumer brands. Sales through this group reached $302.976 million for fiscal year 2025. The success here relies on shelf placement and volume movement, like the steady demand for their cat litter products.

For instance, in the fourth quarter of fiscal 2025 alone, domestic cat litter revenues were $57.5 million. Also, domestic industrial and sports products moved $11.3 million in that same quarter. The company secured growth here partly through new placement, as evidenced by new distribution at a national retailer contributing to industrial and sports product sales.

Direct sales force to B2B industrial, agricultural, and animal health customers

The B2B Products Group, with $182.596 million in fiscal 2025 sales, relies heavily on direct engagement, technical service, and specialized product application. This segment saw a strong 24% increase in net sales in the fourth quarter of fiscal 2025 compared to the prior year.

Key channels within B2B include:

• Fluids purification products, which hit $27.7 million in Q4 FY2025 sales, driven by edible oil and renewable diesel filtration demand.
• Agricultural products, which surged to an all-time high of $11.9 million in Q4 FY2025.
• Amlan International (animal health), which recorded $8.4 million in sales in Q4 FY2025.

Honestly, the agricultural product channel had a standout quarter, growing 104% year-over-year in Q4, thanks to a new key client.

International subsidiaries and distributors for global reach (EMEA, Asia)

Global reach is managed through subsidiaries included in both operating segments. Net sales from all foreign subsidiaries for fiscal year 2025 totaled $20.1 million. That figure was actually a slight dip, down 4% from the $21.0 million reported in fiscal year 2024.

The international component is present across the business:

• The Amlan International business saw its Q4 FY2025 growth fueled by higher international sales volumes.
• Foreign subsidiaries are located in Canada and the Netherlands (R&W Group), and the UK, China, Mexico, and Indonesia (B2B Group).
• The decrease in total foreign subsidiary sales was mainly attributed to the subsidiary in China, despite increases in Mexico and the United Kingdom.

Co-pack and private label manufacturing for third-party brands

Co-packing and private label arrangements are embedded within the R&W segment, often involving co-packaged cat litter. Net sales of co-packaged products increased by $0.9 million in fiscal year 2025 compared to the prior year, primarily due to higher prices. In the fourth quarter of fiscal 2025, revenues from co-packaged coarse cat litter specifically increased by 9% versus the prior year.

The strategic acquisition of Ultra Pet Company in May 2024 also channels growth, contributing approximately 3% to the total sales growth for fiscal year 2025.

E-commerce and online retail platforms for consumer products

While specific 2025 e-commerce revenue is not broken out, the reliance on major retail partners suggests significant indirect online channel volume. For context, Walmart Inc., a key mass-market retailer, accounted for 20% of the company's revenue in the last fiscal year (FY2024). The company continues to focus on optimizing its distribution strategy domestically and abroad, which certainly encompasses the growing digital shelf space.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Customer Segments

You're looking at the customer base for Oil-Dri Corporation of America (ODC) as of late 2025, which is clearly split between consumer-facing retail and specialized business-to-business (B2B) industrial and agricultural users. Honestly, the B2B side is showing some serious momentum, which is great to see given the scale of those contracts.

The company structures its sales around two main groups: the Retail and Wholesale Products Group (R&W) and the Business to Business Products Group. For the fiscal year ending July 31, 2025, consolidated net sales hit an all-time high of $485.6 million, which was an 11% gain over the prior year. You can see how these different customer groups contributed to that record performance, especially in the fourth quarter.

Here's a breakdown of the key customer segments and the most recent quarterly financial data available for Q4 fiscal year 2025:

• Pet Owners, primarily cat owners, seeking premium and value cat litter products
• Large-scale Agricultural Operations requiring carriers and soil amendments
• Industrial Manufacturers and Automotive Service Providers needing absorbents
• Edible Oil and Renewable Diesel Producers needing fluids purification media
• Animal Health and Nutrition Companies (Amlan International)

The focus on premium products in the pet space is clear, especially after the acquisition of Ultra Pet Company, a supplier of silica gel-based crystal cat litter, back in May 2024 for $46 million. Still, one of the largest single customer relationships, Walmart Inc., accounted for 20% of revenue in the last full fiscal year (FY2024).

The Business-to-Business (B2B) segment is clearly driving significant growth, with its Q4 2025 net sales climbing 24% year-over-year to $48.1 million. That segment's operating income also jumped to $15 million, a 16% increase for the quarter.

Here's how the B2B sub-segments performed in the fourth quarter of fiscal year 2025:

Customer Segment Focus	Q4 FY2025 Revenue (in thousands)	Year-over-Year Change
Agricultural Products	$11,900	104% surge
Fluids Purification Products	$27,700	11% rise
Amlan International (Animal Health)	$8,400	5% growth

The agricultural segment saw a standout performance, with sales surging 104% year-over-year to reach $11.9 million in Q4 FY2025. Management noted this was bolstered by normalized customer purchasing patterns and one new key customer. For the fluids purification media, the $27.7 million in Q4 revenue benefited from higher demand in edible oil and renewable diesel filtration.

The Retail and Wholesale (R&W) segment, which includes the bulk of the cat litter sales, still represents the largest revenue base, reporting $77.1 million in sales for Q4 FY2025, a 3% increase year-over-year. Within that, domestic cat litter revenues were up 2% to $57.5 million, while industrial and sports products increased 6% to $11.3 million.

For the full fiscal year 2025, Oil-Dri Corporation of America generated $90 million in EBITDA, a 29% increase from the prior year, showing that these diverse customer segments are translating into strong bottom-line results.

Finance: review the Q1 FY2026 guidance against the Q4 FY2025 segment performance by next Tuesday.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Cost Structure

The Cost Structure for Oil-Dri Corporation of America is heavily influenced by its vertically integrated model, which requires substantial investment in physical assets to control the process from mineral extraction to final product delivery. You need to understand where the money goes to appreciate their margin performance.

High fixed costs associated with mining and manufacturing infrastructure are inherent to the business. Oil-Dri Corporation of America mines sorbent materials on land it either owns or leases across locations like Mississippi, Georgia, Illinois, and California. The company maintains its own processing facilities, and as of early 2025, continued significant investment in manufacturing infrastructure improvements. This asset base supports total estimated mineral reserves of approximately 305,052,000 tons (proven and probable).

Cost of Goods Sold (COGS) is directly driven by raw material extraction and processing. A significant portion of mining cost involves removing overburden to expose the usable clay, and these stripping costs are treated as a variable inventory production cost included in the cost of sales in the period they are incurred. For the third quarter of fiscal year 2025, domestic COGS per ton rose by 5% year-over-year, driven by increases in material and freight costs. For the full fiscal year 2025, consolidated gross profit reached $143.1 million, yielding a gross margin of 29.5%.

The operational overhead is detailed in the following table, showing key expense categories for the full fiscal year 2025:

Cost Category	FY2025 Amount (USD)	Context/Detail
Selling, General, and Administrative (SG&A) Expenses	$74.9 million	Slightly elevated from the prior year, partially offset by lower acquisition-related costs.
Capital Expenditures (CapEx)	$32.6 million	Investments made during fiscal 2025, alongside debt repayment and dividends.
Total Consolidated Net Sales	$485.6 million	An 11% gain over the prior year, setting an all-time high.
Total Consolidated Net Income	$54.0 million	A 37% increase over the prior year.

The company allocates resources to innovation, which is a key component of its long-term strategy. Research and development (R&D) spending for new sorbent applications is a necessary cost in maintaining market leadership. For the fourth quarter of fiscal year 2025, operating income growth was partially offset by elevated research and development costs. The leadership has expressed a commitment to innovation to create value from sorbent minerals and develop new products for different applications.

You can see the major cash uses in the year:

• SG&A expenses totaled $74.9 million.
• Capital expenditures amounted to $32.6 million.
• Dividends distributed to shareholders totaled $8.4 million.
• Debt repayment totaled $11.0 million.

Finance: draft the Q1 2026 cash flow forecast incorporating these fixed and variable cost trends by next Wednesday.

Oil-Dri Corporation of America (ODC) - Canvas Business Model: Revenue Streams

You're looking at the top-line performance for Oil-Dri Corporation of America (ODC) as of late 2025, focusing on where the money actually comes from. The revenue streams are clearly segmented, showing a balanced approach across consumer-facing and industrial/business channels.

Consolidated Net Sales for fiscal year 2025 reached a record $485.6 million, which was an 11% gain over the prior year. This record performance was driven by both internal momentum and strategic expansion, including the acquisition of Ultra Pet Company, Inc., which contributed a 3% boost to the overall sales increase. Honestly, hitting a record top line like that shows strong execution across the board.

The revenue base is split between two primary operating segments:

• The Retail and Wholesale (R&W) segment generated $303.0 million in fiscal year 2025.
• The Business-to-Business (B2B) segment brought in $182.6 million for fiscal year 2025.

Here's the quick math on the segment split for the fiscal year 2025 record sales:

Revenue Stream Category	FY2025 Net Sales (in millions)	Year-over-Year Change (FY2025 vs FY2024)
Retail and Wholesale (R&W) Sales	$303.0	6%
Business-to-Business (B2B) Sales	$182.6	21%
Consolidated Net Sales	$485.6	11%

The B2B Products Group was the primary driver of the overall growth rate, showing a 21% increase year-over-year, outpacing the R&W segment's 6% growth. This points to strong industrial and specialized product demand.

Within the B2B segment, two areas stand out as high-growth, high-margin contributors:

• Sales of fluids purification products, a high-growth, high-margin area, saw a 19% increase for the full fiscal year 2025.
• Sales of agricultural carriers saw a significant 32% boost in fiscal year 2025 compared to the previous year.

To give you a clearer picture of the recent momentum in these specialized areas, look at the fourth quarter of fiscal year 2025 results:

Fluids purification revenue in the fourth quarter reached $27.7 million, marking an 11% increase over the prior year's fourth quarter. Agricultural products achieved an all-time high in the fourth quarter, surging 104% year-over-year to reach $11.9 million. This was helped by normalized purchasing patterns from existing customers and the addition of a new key customer. That's defintely a strong indicator for that specific revenue stream.

The R&W segment also posted historic high sales, with domestic cat litter growing 6% and co-packaged cat litter growing 5% over the prior year. Industrial & sports businesses within R&W grew 4% for the full year.