CECelanese Corp

Plastic Material, Synth Resin/rubber, Cellulos (no Glass)

Revenue: $9.5B; 7.1% YoY
Operating margin: -8.2%; 17% YoY
EBITDA: −$26M; 132% YoY
Market cap: $5.4B
Employees: 11,434; $835K revenue each
Net debt / EBITDA: —; $11.2B net debt
AI in 10-K: 1.6; mentions per 10K words

Takeover score 0 of 13

Fixable underperformance 0 of 7

TSR below peersNo
—
3+ of last 5 years
High CEO pay despite TSRNo
—
Median CEO pay ≥ $15M while TSR trails
Earnings not backed by cashNo
—
Cash flow under 80% of net income
Dilutive SBCNo
0% of revenue
Over 10% of revenue
Payouts exceed cash flowNo
1% of cash flow
Buybacks + dividends over cash flow
Goodwill-heavyNo
19% of assets
Over 40% of assets
Shareholder dissentNo
98% lowest support
Any vote under 80% support

Buyer economics 0 of 4

Low revenue per employeeNo
$835K · 68th pct
Bottom quartile of its SIC industry
Quiet on AINo
1.6 per 10K words · 49th pct
Bottom quartile of AI mentions in 10-Ks
Net cashNo
—
More cash than debt, positive EBITDA
Buyout-sizedNo
$5.4B market cap
Market cap $500M–$5B

Catalysts 0 of 2

Active 13DNo
0 filings
Active-intent 13D in 18 months
Net insider sellingNo
$593K net
Net sales over $10M in 12 months

Financials

Metric	FY2021	FY2022	FY2023	FY2024	FY2025	YoY	Trend
Revenue	$8.5B	$9.7B	$10.9B	$10.3B	$9.5B	7.1%
Operating income	$1.9B	$1.4B	$1.7B	−$720M	−$786M	9.2%
Net income	$1.9B	$1.9B	$1.9B	−$1.5B	−$1.2B	24%
Operating cash flow	$1.8B	$1.8B	$1.9B	$966M	$1.1B	19%
Capex	$467M	$543M	$568M	$435M	$343M	21%
Stock-based comp	$95M	$60M	$40M	$32M	$24M	25%
Buybacks	$1.0B	$17M	$0	$0	—
Dividends	$304M	$297M	$305M	$307M	$13M	96%

Deal filings

None.

13D filers

None on file.

Insider trading

Open-market buys, 12 mo: $593K · 7
Open-market sells, 12 mo: $0 · 0
Net: $593K

Pay vs performance

No pay-versus-performance disclosure yet.