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Element Solutions

ESI NYSE Specialty Chemicals Financials FY2016–FY2025

Element Solutions' revenue rose 3.8% to $2.6 billion in fiscal 2025. Its operating margin was 13.4%, down from 14.0% a year earlier. Free cash flow was $228 million, down 22.5%. It paid out $103 million in dividends and buybacks, 45% of free cash flow.

Last close · Oct 23, 2026

$33.21

0.3%
Value it Compare
Revenue Total sales reported in the income statement.
$2.6B
3.8% vs prior year
Operating margin Operating income as a share of revenue.
13.4%
0.6 pts
Net income Profit after all expenses, interest and tax.
$191M
21.9%
Free cash flow Cash from operations minus capital spending.
$228M
22.5%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
6.5%
0.9 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$8.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
39.1x
On $0.85 EPS (TTM)

What Element Solutions does

No business description yet.

Legal name
Element Solutions Inc
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001590714-26-000018
0001590714

Revenue and margins

Element Solutions had $2.6B of revenue in fiscal 2025, up 3.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $228M in fiscal 2025, 8.9% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Element Solutions returned $103M to shareholders in fiscal 2025, 45% of free cash flow. The diluted share count fell 0.1%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Element Solutions yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.0B and divides by 242.4M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 39.1x · peers 20.5x · sector 20.1x.

Balance sheet

Cash, debt and the ratios that show how comfortably Element Solutions can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $330M$266M$289M$359M$627M
Debt incl. finance leases $1.9B$1.9B$2.0B$1.8B$1.6B
Net debt / EBITDA 3.5x3.4x4.9x3.0x2.1x
Debt / equity 0.8x0.8x0.8x0.8x0.6x
Current ratio 2.9x3.5x3.2x3.3x3.7x
Quick ratio 2.3x2.6x2.4x2.7x3.0x
Total assets $5.1B$4.9B$5.0B$4.9B$5.1B
Total liabilities $2.6B$2.6B$2.6B$2.5B$2.4B
Shareholders' equity $2.5B$2.3B$2.3B$2.4B$2.7B
Net debt (− = net cash) $1.6B$1.6B$1.7B$1.5B$1.0B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$25.7M

5 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Feb 24, 2026 Benjamin GliklichCEO, Director Sold 170,000 $37.30 $6.3M Form 4
Feb 23, 2026 Carey J. DormanPdt Enterprise Ops and CFO Sold 97,500 $34.87 $3.4M Form 4
Feb 20, 2026 Oneal E StanleyDirector Sold 200,641 $35.52 $7.1M Form 4
Dec 12, 2025 Matthew LiebowitzPresident, Specialties Sold 37,000 $26.60 $1.0M Form 4
Nov 5, 2025 Ian G H AshkenDirector Sold 292,000 $27.00 $7.9M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✕ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✕ ✓ ✓
Current ratio rose ✕ ✓ ✓
Share count didn't rise ✓ ✕ ✓
Gross margin rose ✓ ✓ ✕
Revenue rose relative to assets ✕ ✓ ✓
F-score 5 / 98 / 97 / 9
Accruals ratio −4.4%−2.4%−2.0%
Altman Z'' 1.492.012.53

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Element Solutions ESI $8.1B 3.8% 13.4% 8.9% 6.5% 39.1x 7
NewMarket NEU $8.0B −2.2% 20.0% 18.0% 16.3% 18.7x 5 Compare →
Stepan SCL $1.5B 7.0% 3.4% 1.1% 3.6% — 6 Compare →
Minerals Technologies MTX $2.0B −2.2% 2.3% 4.2% 1.6% — 4 Compare →
Avient AVNT $3.8B 0.6% 6.2% 6.0% 4.0% 22.2x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $1.8B $1.9B $2.0B $1.8B $1.9B $2.4B $2.5B $2.3B $2.5B $2.6B
Gross profit $777M $814M $838M $788M $786M $961M $953M $919M $1.0B $1.1B
Research and development $45.0M $46.4M $44.3M $42.2M $48.6M $49.7M $48.8M $68.1M $63.0M $67.6M
Operating income $89.4M $200M $249M $249M $233M $300M $325M $174M $344M $342M
Interest expense $360M $323M — — — — — — — —
Pretax income −$232M −$260M −$53.2M $141M $81.1M $252M $272M $129M $288M $266M
Income tax −$41.3M −$68.6M $23.8M $61.3M $4.3M $48.3M $85.8M $13.0M $44.8M $74.6M
Net income −$73.7M −$296M −$324M $92.9M $75.7M $204M $187M $118M $244M $191M
Diluted EPS −$0.65 −$1.04 −$1.13 $0.35 $0.30 $0.82 $0.76 $0.49 $1.01 $0.79
Diluted shares 0.27B 0.29B 0.29B 0.26B 0.25B 0.25B 0.25B 0.24B 0.24B 0.24B
Cash flow
Cash from operations $185M $182M −$0.8M $171M $276M $326M $296M $334M $362M $290M
Capital expenditure $32.6M $30.8M $28.4M $29.7M $28.8M $46.3M $47.8M $52.7M $68.4M $62.2M
Free cash flow $152M $151M −$29.2M $141M $247M $280M $248M $281M $294M $228M
Depreciation and amortization $156M $156M $157M $155M $161M $164M $161M $167M $158M $151M
Stock-based compensation $7.3M $11.8M $15.4M $11.8M $6.0M $40.1M $17.7M $9.4M $14.8M $59.1M
Acquisitions $1.2M $0.0M $28.2M $63.9M $9.0M $537M $22.6M $215M $3.9M $0.0M
Share buybacks $0.0M $0.0M $0.0M $507M $55.7M $19.6M $151M $0.0M $0.0M $25.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $12.4M $61.9M $78.4M $77.4M $78.2M $77.8M
Dividends and buybacks $0.0M $0.0M $0.0M $507M $68.1M $81.5M $229M $77.4M $78.2M $103M
Balance sheet
Cash and short-term investments $423M $258M $234M $190M $292M $330M $266M $289M $359M $627M
Total debt $5.2B $5.5B $5.4B $1.5B $1.5B $1.9B $1.9B $2.0B $1.8B $1.6B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $2.1B $2.3B $2.5B $833M $990M $1.2B $1.2B $1.2B $1.3B $1.6B
Current liabilities $1.1B $1.1B $1.1B $294M $314M $415M $344M $369M $380M $430M
Inventory $416M $186M $188M $200M $203M $274M $291M $299M $246M $295M
Property and equipment, net $461M $287M $267M $265M $240M $278M $277M $297M $277M $320M
Total assets $10.1B $10.3B $9.4B $4.3B $4.5B $5.1B $4.9B $5.0B $4.9B $5.1B
Total liabilities $7.2B $7.4B $7.2B $2.1B $2.2B $2.6B $2.6B $2.6B $2.5B $2.4B
Shareholders' equity $2.7B $2.7B $2.1B $2.2B $2.3B $2.5B $2.3B $2.3B $2.4B $2.7B
Margins
Gross margin 43.9% 43.3% 42.7% 42.9% 42.4% 40.0% 37.4% 39.4% 42.2% 42.0%
Operating margin 5.1% 10.7% 12.7% 13.6% 12.6% 12.5% 12.8% 7.4% 14.0% 13.4%
EBITDA margin 13.9% 19.0% 20.7% 22.0% 21.3% 19.3% 19.1% 14.6% 20.4% 19.3%
Net margin −4.2% −15.8% −16.5% 5.1% 4.1% 8.5% 7.3% 5.1% 9.9% 7.5%
FCF margin 8.6% 8.1% −1.5% 7.7% 13.3% 11.7% 9.7% 12.0% 12.0% 8.9%
Returns
Return on capital 1.0% 2.0% 2.5% 2.6% 6.2% 6.3% 5.5% 3.9% 7.4% 6.5%
Return on capital employed 1.0% 2.2% 2.9% 4.1% 5.7% 6.8% 7.0% 3.8% 7.6% 7.5%
Return on equity −3.1% −10.8% −13.4% 4.3% 3.3% 8.5% 7.8% 5.1% 10.4% 7.6%
Return on assets −0.7% −2.9% −3.3% 1.4% 1.7% 4.2% 3.7% 2.4% 5.0% 3.8%
Growth
Revenue growth −30.4% 6.1% 4.4% −6.4% 1.0% 29.5% 6.2% −8.5% 5.3% 3.8%
Net income growth — — — — −18.5% 169.1% −8.1% −36.9% 106.8% −21.9%
EPS growth — — — — −14.3% 173.3% −7.3% −35.5% 106.1% −21.8%
FCF growth −44.3% −0.6% −119.3% — 75.1% 13.2% −11.3% 13.2% 4.5% −22.5%
Share count change 34.0% 5.1% 0.7% −9.8% −3.9% −0.8% −0.9% −1.6% 0.3% −0.1%
Financial health
Net debt / EBITDA 19.6x 14.7x 12.8x 3.4x 3.2x 3.5x 3.4x 4.9x 3.0x 2.1x
Debt / equity 1.9x 2.0x 2.6x 0.7x 0.7x 0.8x 0.8x 0.8x 0.8x 0.6x
Interest coverage 0.3x 0.6x — — — — — — — —
Current ratio 1.9x 2.1x 2.2x 2.8x 3.2x 2.9x 3.5x 3.2x 3.3x 3.7x
Quick ratio 1.5x 2.0x 2.0x 2.2x 2.5x 2.3x 2.6x 2.4x 2.7x 3.0x
Capital allocation
Capex / revenue 1.8% 1.6% 1.5% 1.6% 1.6% 1.9% 1.9% 2.3% 2.8% 2.4%
Stock comp / revenue 0.4% 0.6% 0.8% 0.6% 0.3% 1.7% 0.7% 0.4% 0.6% 2.3%
Payouts / FCF 0.0% 0.0% — 359.1% 27.6% 29.1% 92.5% 27.6% 26.6% 45.2%
Quality scores
Piotroski F-score 5.0 4.0 3.0 9.0 7.0 6.0 6.0 5.0 8.0 7.0
Altman Z'' 0.9 1.1 1.0 1.2 1.4 1.6 1.7 1.5 2.0 2.5
Accruals ratio −2.6% −4.7% −3.3% −1.1% −4.6% −2.5% −2.2% −4.4% −2.4% −2.0%

Source: SEC EDGAR XBRL filings (CIK 0001590714). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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