Braskem Sa
BAK NYSE Industrial Organic Chemicals Financials FY2016โFY2025
Last close ยท Oct 23, 2026
$1.70
6.3%
Revenue
Total sales reported in the income statement.
$12.6B
11.9%
vs prior year
Operating margin
Operating income as a share of revenue.
โ2.6%
1.2ย pts
Net income
Profit after all expenses, interest and tax.
โ$1.8B
Free cash flow
Cash from operations minus capital spending.
โ$1.3B
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ5.6%
2.6ย pts
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
What Braskem Sa does
No business description yet.
- Legal name
- BRASKEM SA
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F ยท Apr 20, 2026
- Accession ยท CIK
- 0001292814-26-002427
0001071438
Revenue and margins
Braskem Sa had $12.6B of revenue in fiscal 2025, down 11.9% on the year before.
FY16
Revenue $13.7B
FY17
Revenue $15.4B
FY18
Revenue $15.9B
FY19
Revenue $13.3B
FY20
Revenue $11.4B
FY21
Revenue $19.6B
FY22
Revenue $18.7B
FY23
Revenue $14.1B
FY24
Revenue $14.4B
FY25
Revenue $12.6B
Q4 '20
Revenue $3.5B
Q4 '21
Revenue $5.1B
FY16
Gross 26.6%
Operating 12.5%
Net โ0.9%
FCF 3.9%
FY17
Gross 26.6%
Operating 18.7%
Net 7.8%
FCF 0.4%
FY18
Gross 19.7%
Operating 14.3%
Net 4.9%
FCF 11.3%
FY19
Gross 12.3%
Operating 0.3%
Net โ4.9%
FCF โ0.8%
FY20
Gross 19.2%
Operating โ0.1%
Net โ11.4%
FCF 6.0%
FY21
Gross 30.3%
Operating 24.7%
Net 13.2%
FCF 10.8%
FY22
Gross 11.8%
Operating 4.4%
Net โ0.3%
FCF 4.3%
FY23
Gross 4.3%
Operating โ4.0%
Net โ6.5%
FCF โ9.6%
FY24
Gross 7.7%
Operating โ1.4%
Net โ14.6%
FCF โ1.7%
FY25
Gross 2.2%
Operating โ2.6%
Net โ14.0%
FCF โ10.3%
Gross
Operating
Net
FCF
Q4 '20
Gross 26.4%
Operating 6.0%
Net 4.5%
FCF 16.1%
Q4 '21
Gross 23.8%
Operating 16.4%
Net 4.0%
FCF 10.1%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY16
Net income โ$118M
FY17
Net income $1.2B
FY18
Net income $773M
FY19
Net income โ$644M
FY20
Net income โ$1.3B
FY21
Net income $2.6B
FY22
Net income โ$65.0M
FY23
Net income โ$917M
FY24
Net income โ$2.1B
FY25
Net income โ$1.8B
Q4 '20
Net income $157M
Q4 '21
Net income $202M
FY16
Diluted EPS โ$0.30
FY17
Diluted EPS $3.04
FY18
Diluted EPS $1.94
FY19
Diluted EPS โ$1.62
FY20
Diluted EPS โ$3.26
FY21
Diluted EPS $6.52
FY22
Diluted EPS โ
FY23
Diluted EPS โ
FY24
Diluted EPS โ
FY25
Diluted EPS โ
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 22.6%
Return on equity โ14.0%
Return on assets โ0.7%
FY17
Return on capital 27.4%
Return on equity 88.3%
Return on assets 7.6%
FY18
Return on capital 27.0%
Return on equity 43.1%
Return on assets 5.0%
FY19
Return on capital 0.5%
Return on equity โ44.5%
Return on assets โ4.0%
FY20
Return on capital โ0.2%
Return on equity โ328.0%
Return on assets โ7.7%
FY21
Return on capital 61.4%
Return on equity 524.9%
Return on assets 15.6%
FY22
Return on capital 9.3%
Return on equity โ4.7%
Return on assets โ0.4%
FY23
Return on capital โ6.7%
Return on equity โ83.1%
Return on assets โ5.2%
FY24
Return on capital โ2.9%
Return on equity โ8,487.0%
Return on assets โ11.9%
FY25
Return on capital โ5.6%
Return on equity โ
Return on assets โ11.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$1.3B in fiscal 2025, โ10.3% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow $536M
FY17
Free cash flow $59.0M
FY18
Free cash flow $1.8B
FY19
Free cash flow โ$106M
FY20
Free cash flow $685M
FY21
Free cash flow $2.1B
FY22
Free cash flow $794M
FY23
Free cash flow โ$1.4B
FY24
Free cash flow โ$246M
FY25
Free cash flow โ$1.3B
Q4 '20
Free cash flow $558M
Q4 '21
Free cash flow $512M
FY16
Cash from operations $1.3B
Capital spending $741M
FY17
Cash from operations $771M
Capital spending $712M
FY18
Cash from operations $2.5B
Capital spending $740M
FY19
Cash from operations $574M
Capital spending $680M
FY20
Cash from operations $1.2B
Capital spending $535M
FY21
Cash from operations $2.7B
Capital spending $634M
FY22
Cash from operations $1.7B
Capital spending $938M
FY23
Cash from operations โ$455M
Capital spending $907M
FY24
Cash from operations $452M
Capital spending $698M
FY25
Cash from operations โ$751M
Capital spending $553M
Cash from operations
Capital spending
Q4 '20
Cash from operations $711M
Capital spending $154M
Q4 '21
Cash from operations $758M
Capital spending $247M
Cash from operations
Capital spending
Dividends, buybacks and share count
Braskem Sa returned โ to shareholders in fiscal 2025. The diluted share count rose 0.0%.
FY16
Dividends $573M
Buybacks โ
FY17
Dividends $313M
Buybacks โ
FY18
Dividends $410M
Buybacks โ
FY19
Dividends $170M
Buybacks โ
FY20
Dividends $0.5M
Buybacks โ
FY21
Dividends $1.1B
Buybacks โ
FY22
Dividends $261M
Buybacks โ
FY23
Dividends $1.4M
Buybacks โ
FY24
Dividends $1.1M
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
Q4 '20
Dividends $0.9M
Buybacks โ
Q4 '21
Dividends $1.1B
Buybacks โ
Dividends
Buybacks
FY16
Diluted shares 0.40B
FY17
Diluted shares 0.40B
FY18
Diluted shares 0.40B
FY19
Diluted shares 0.40B
FY20
Diluted shares 0.40B
FY21
Diluted shares โ
FY22
Diluted shares โ
FY23
Diluted shares โ
FY24
Diluted shares โ
FY25
Diluted shares โ
Balance sheet
Cash, debt and the ratios that show how comfortably Braskem Sa can carry it.
FY16
Cash $2.1B
Debt $7.2B
FY17
Cash $1.1B
Debt $7.1B
FY18
Cash $1.4B
Debt $6.4B
FY19
Cash $1.7B
Debt $7.2B
FY20
Cash $2.7B
Debt $8.0B
FY21
Cash $1.6B
Debt $6.3B
FY22
Cash $2.4B
Debt $6.8B
FY23
Cash $2.9B
Debt $8.7B
FY24
Cash $2.4B
Debt $8.6B
FY25
Cash $1.9B
Debt $9.5B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $1.6B | $2.4B | $2.9B | $2.4B | $1.9B |
| Debt incl. finance leases | $6.3B | $6.8B | $8.7B | $8.6B | $9.5B |
| Net debt / EBITDA | 0.8x | 2.5x | 12.0x | 8.6x | 14.7x |
| Debt / equity | 4.4x | 4.9x | 10.6x | โ | โ |
| Interest coverage | 5.3x | 0.8x | โ0.5x | โ0.2x | โ0.3x |
| Current ratio | 1.6x | 1.4x | 1.5x | 1.3x | 0.8x |
| Quick ratio | 0.9x | 0.8x | 1.0x | 0.8x | 0.5x |
| Total assets | $16.6B | $16.7B | $18.9B | $16.4B | $14.9B |
| Total liabilities | $752M | $570M | $18.1B | $17.2B | $17.9B |
| Shareholders' equity | $1.4B | $1.4B | $823M | โ$773M | โ$2.9B |
| Net debt (โ = net cash) | $4.7B | $4.4B | $5.8B | $6.2B | $7.5B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | 6 / 9 | 6 / 9 | 4 / 9 | 3 / 9 | 8 / 8 | 2 / 8 | 2 / 8 | 4 / 8 | 2 / 8 |
| Accruals ratio | โ8.8% | 2.8% | โ11.3% | โ7.6% | โ15.0% | โ0.9% | โ10.8% | โ2.6% | โ14.5% | โ6.5% |
| Altman Z'' | โ | 1.20 | 0.93 | โ | 0.24 | โ | โ | 0.68 | โ0.01 | โ2.05 |
10 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $13.7B | $15.4B | $15.9B | $13.3B | $11.4B | $19.6B | $18.7B | $14.1B | $14.4B | $12.6B |
| Gross profit | $3.6B | $4.1B | $3.1B | $1.6B | $2.2B | $5.9B | $2.2B | $605M | $1.1B | $278M |
| Research and development | $46.4M | $52.5M | $60.0M | $62.8M | $48.6M | $55.1M | $72.4M | $76.7M | $85.9M | $82.3M |
| Operating income | $1.7B | $2.9B | $2.3B | $39.0M | โ$13.9M | $4.8B | $827M | โ$559M | โ$200M | โ$323M |
| Interest expense | $702M | $696M | $822M | $984M | $953M | $909M | $980M | $1.1B | $1.3B | $1.2B |
| Pretax income | โ$40.1M | $1.6B | $986M | โ$1.2B | โ$1.9B | $3.3B | $9.1M | โ$1.2B | โ$3.3B | โ$509M |
| Income tax | $177M | $425M | $201M | โ$498M | โ$517M | $741M | $168M | โ$261M | โ$1.1B | $1.5B |
| Net income | โ$118M | $1.2B | $773M | โ$644M | โ$1.3B | $2.6B | โ$65.0M | โ$917M | โ$2.1B | โ$1.8B |
| Net income to common | โ$118M | $1.2B | $773M | โ$644M | โ$1.3B | $2.6B | โ$65.0M | โ$917M | โ$2.1B | โ$1.8B |
| Diluted EPS | โ$0.30 | $3.04 | $1.94 | โ$1.62 | โ$3.26 | $6.52 | โ | โ | โ | โ |
| Diluted shares | 0.40B | 0.40B | 0.40B | 0.40B | 0.40B | โ | โ | โ | โ | โ |
| Cash flow | ||||||||||
| Cash from operations | $1.3B | $771M | $2.5B | $574M | $1.2B | $2.7B | $1.7B | โ$455M | $452M | โ$751M |
| Capital expenditure | $741M | $712M | $740M | $680M | $535M | $634M | $938M | $907M | $698M | $553M |
| Free cash flow | $536M | $59.0M | $1.8B | โ$106M | $685M | $2.1B | $794M | โ$1.4B | โ$246M | โ$1.3B |
| Depreciation and amortization | โ$768M | โ$918M | $818M | $921M | $785M | $775M | $916M | $1.0B | $919M | $836M |
| Dividends paid | $573M | $313M | $410M | $170M | $0.5M | $1.1B | $261M | $1.4M | $1.1M | โ |
| Dividends and buybacks | $573M | $313M | $410M | $170M | $0.5M | $1.1B | $261M | $1.4M | $1.1M | โ |
| Balance sheet | ||||||||||
| Cash and short-term investments | $2.1B | $1.1B | $1.4B | $1.7B | $2.7B | $1.6B | $2.4B | $2.9B | $2.4B | $1.9B |
| Total debt | $7.2B | $7.1B | $6.4B | $7.2B | $8.0B | $6.3B | $6.8B | $8.7B | $8.6B | $9.5B |
| Current assets | $4.9B | $5.3B | $5.4B | $5.8B | $6.6B | $7.1B | $6.5B | $7.7B | $6.0B | $5.6B |
| Current liabilities | $7.0B | $5.6B | $5.9B | $4.0B | $5.5B | $4.5B | $4.6B | $5.0B | $4.6B | $7.3B |
| Inventory | $1.6B | $2.0B | $2.2B | $1.9B | $1.6B | $2.9B | $2.7B | $2.6B | $2.2B | $1.9B |
| Property and equipment, net | $9.1B | $9.0B | $8.2B | $8.0B | $6.9B | $6.7B | $7.1B | $7.9B | $6.5B | $6.9B |
| Intangible assets | $863M | $823M | $706M | $687M | $545M | $516M | โ | โ | โ | โ |
| Total assets | $15.9B | $15.9B | $15.2B | $16.9B | $16.6B | $16.6B | $16.7B | $18.9B | $16.4B | $14.9B |
| Total liabilities | $15.1B | $14.0B | $13.5B | $15.7B | $17.0B | $752M | $570M | $18.1B | $17.2B | $17.9B |
| Shareholders' equity | $841M | $1.9B | $1.7B | $1.2B | โ$424M | $1.4B | $1.4B | $823M | โ$773M | โ$2.9B |
| Margins | ||||||||||
| Gross margin | 26.6% | 26.6% | 19.7% | 12.3% | 19.2% | 30.3% | 11.8% | 4.3% | 7.7% | 2.2% |
| Operating margin | 12.5% | 18.7% | 14.3% | 0.3% | โ0.1% | 24.7% | 4.4% | โ4.0% | โ1.4% | โ2.6% |
| EBITDA margin | 6.9% | 12.7% | 19.4% | 7.2% | 6.8% | 28.6% | 9.3% | 3.4% | 5.0% | 4.1% |
| Net margin | โ0.9% | 7.8% | 4.9% | โ4.9% | โ11.4% | 13.2% | โ0.3% | โ6.5% | โ14.6% | โ14.0% |
| FCF margin | 3.9% | 0.4% | 11.3% | โ0.8% | 6.0% | 10.8% | 4.3% | โ9.6% | โ1.7% | โ10.3% |
| Returns | ||||||||||
| Return on capital | 22.6% | 27.4% | 27.0% | 0.5% | โ0.2% | 61.4% | 9.3% | โ6.7% | โ2.9% | โ5.6% |
| Return on capital employed | 19.2% | 28.0% | 24.4% | 0.3% | โ0.1% | 39.9% | 6.8% | โ4.0% | โ1.7% | โ4.2% |
| Return on equity | โ14.0% | 88.3% | 43.1% | โ44.5% | โ328.0% | 524.9% | โ4.7% | โ83.1% | โ8,487.0% | โ |
| Return on assets | โ0.7% | 7.6% | 5.0% | โ4.0% | โ7.7% | 15.6% | โ0.4% | โ5.2% | โ11.9% | โ11.3% |
| Return on tangible equity | โ | 112.3% | 79.2% | โ121.9% | โ | 289.5% | โ4.7% | โ111.4% | โ | โ |
| Growth | ||||||||||
| Revenue growth | โ | 13.0% | 2.8% | โ16.4% | โ14.4% | 72.5% | โ4.6% | โ24.4% | 1.7% | โ11.9% |
| Net income growth | โ | โ | โ36.2% | โ183.3% | โ | โ | โ102.5% | โ | โ | โ |
| EPS growth | โ | โ | โ36.0% | โ183.3% | โ | โ | โ | โ | โ | โ |
| FCF growth | โ | โ89.0% | 2,930.9% | โ105.9% | โ | 207.5% | โ62.3% | โ271.5% | โ | โ |
| Share count change | โ | 0.1% | โ0.0% | โ0.0% | 0.0% | โ | โ | โ | โ | โ |
| Financial health | ||||||||||
| Net debt / EBITDA | 5.4x | 3.0x | 1.6x | 5.8x | 7.0x | 0.8x | 2.5x | 12.0x | 8.6x | 14.7x |
| Debt / equity | 8.5x | 3.7x | 3.8x | 5.9x | โ | 4.4x | 4.9x | 10.6x | โ | โ |
| Interest coverage | 2.4x | 4.1x | 2.8x | 0.0x | โ0.0x | 5.3x | 0.8x | โ0.5x | โ0.2x | โ0.3x |
| Current ratio | 0.7x | 0.9x | 0.9x | 1.4x | 1.2x | 1.6x | 1.4x | 1.5x | 1.3x | 0.8x |
| Quick ratio | 0.5x | 0.6x | 0.6x | 1.0x | 0.9x | 0.9x | 0.8x | 1.0x | 0.8x | 0.5x |
| Capital allocation | ||||||||||
| Capex / revenue | 5.4% | 4.6% | 4.7% | 5.1% | 4.7% | 3.2% | 5.0% | 6.4% | 4.9% | 4.4% |
| Payouts / FCF | 106.8% | 530.1% | 22.9% | โ | 0.1% | 52.7% | 32.9% | โ | โ | โ |
| Quality scores | ||||||||||
| Piotroski F-score | โ | 6.0 | 6.0 | 4.0 | 3.0 | 8.0 | 2.0 | 2.0 | 4.0 | 2.0 |
| Altman Z'' | โ | 1.2 | 0.9 | โ | 0.2 | โ | โ | 0.7 | โ0.0 | โ2.1 |
| Accruals ratio | โ8.8% | 2.8% | โ11.3% | โ7.6% | โ15.0% | โ0.9% | โ10.8% | โ2.6% | โ14.5% | โ6.5% |
Source: SEC EDGAR XBRL filings (CIK 0001071438). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in BRL under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. Per-share figures are per US-listed share (1 ADS = 2 ordinary shares). For information only โ not investment advice. Check the original filings before relying on any figure.