EMNEASTMAN CHEMICAL CO
Plastic Materials, Synth Resins & Nonvulcan Elastomers
- Revenue
- $8.8B
- 6.7% YoY
- Operating margin
- —
- EBITDA
- —
- Market cap
- $14.9B
- Employees
- 13,000
- $673K revenue each
- Net debt / EBITDA
- —
- $4.7B net debt
- AI in 10-K
- 1.4
- mentions per 10K words
Takeover score 2 of 13
Fixable underperformance 2 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 cashNo205% of net incomeCash flow under 80% of net income
- Dilutive SBCNo1% of revenueOver 10% of revenue
- Payouts exceed cash flowYes132% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyNo24% of assetsOver 40% of assets
- Shareholder dissentYes77% lowest supportAny vote under 80% support
Buyer economics 0 of 4
- Low revenue per employeeNo$673K · 63rd pctBottom quartile of its SIC industry
- Quiet on AINo1.4 per 10K words · 43rd pctBottom quartile of AI mentions in 10-Ks
- Net cashNo2.2× EBITDA net debtMore cash than debt, positive EBITDA
- Buyout-sizedNo$14.9B market capMarket cap $500M–$5B
Catalysts 0 of 2
- Active 13DNo0 filingsActive-intent 13D in 18 months
- Net insider sellingNo−$366K netNet sales over $10M in 12 months
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $10.5B | $10.6B | $9.2B | $9.4B | $8.8B | 6.7% |
| Net income | $857M | $793M | $894M | $905M | $474M | 48% |
| Operating cash flow | $1.6B | $975M | $1.4B | $1.3B | $970M | 25% |
| Capex | $555M | $611M | $828M | $599M | $546M | 8.8% |
| Stock-based comp | $70M | $69M | $64M | $63M | $48M | 24% |
| Buybacks | $900M | — | — | — | — | |
| Dividends | $375M | $381M | $376M | $379M | $381M | 0.5% |
Deal filings
None.
13D filers
None on file.
Insider trading
- Open-market buys, 12 mo
- $0 · 0
- Open-market sells, 12 mo
- $366K · 2
- Net
- −$366K
Pay vs performance
No pay-versus-performance disclosure yet.