Celanese vs Eastman Chemical
Add, change or remove companies; up to four.
The short version
- Celanese is the larger business, with $9.5B of revenue in fiscal 2025 against $8.8B for Eastman Chemical.
- Celanese turned more of its sales into free cash flow (8.4% FCF margin, against 4.8%).
- Eastman Chemical earned a higher return on the capital invested in it (6.5%, against −3.7%).
| Latest fiscal year | CE · FY25 | EMN · FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.3B | $7.5B |
| Revenue | $9.5B | $8.8B |
| Free cash flow | $803M | $424M |
| Net income | −$1.2B | $474M |
| Growth | ||
| Revenue growth | −7.1% | −6.7% |
| 5-year growth | 11.0% | 0.7% |
| Share count change | 0.2% | −2.0% |
| Profitability | ||
| Gross margin | 20.5% | 21.1% |
| Operating margin | −8.2% | — |
| Net margin | −12.2% | 5.4% |
| FCF margin | 8.4% | 4.8% |
| Return on capital | −3.7% | 6.5% |
| Return on equity | −25.4% | 8.1% |
| Balance sheet | ||
| Net debt | $11.5B | $4.2B |
| Net debt / EBITDA | — | 3.3x |
| Dividends and buybacks | $13.0M | $381M |
| Valuation & quality | ||
| P/E | — | 16.9x |
| Piotroski F-score | 5 | 5 |
Revenue
FY16
CE $5.4B
EMN $9.0B
FY17
CE $6.1B
EMN $9.5B
FY18
CE $7.2B
EMN $10.2B
FY19
CE $6.3B
EMN $9.3B
FY20
CE $5.7B
EMN $8.5B
FY21
CE $8.5B
EMN $10.5B
FY22
CE $9.7B
EMN $10.6B
FY23
CE $10.9B
EMN $9.2B
FY24
CE $10.3B
EMN $9.4B
FY25
CE $9.5B
EMN $8.8B
CE
EMN
Operating margin
FY16
CE 17.3%
EMN 15.4%
FY17
CE 14.0%
EMN 16.0%
FY18
CE 18.6%
EMN —
FY19
CE 13.2%
EMN —
FY20
CE 11.7%
EMN —
FY21
CE 22.8%
EMN —
FY22
CE 14.3%
EMN —
FY23
CE 15.2%
EMN —
FY24
CE −7.0%
EMN —
FY25
CE −8.2%
EMN —
CE
EMN
Free cash flow
FY16
CE $647M
EMN $759M
FY17
CE $536M
EMN $1.0B
FY18
CE $1.2B
EMN $1.0B
FY19
CE $1.1B
EMN $1.1B
FY20
CE $979M
EMN $1.1B
FY21
CE $1.3B
EMN $1.1B
FY22
CE $1.3B
EMN $364M
FY23
CE $1.3B
EMN $546M
FY24
CE $531M
EMN $688M
FY25
CE $803M
EMN $424M
CE
EMN
Return on capital
FY16
CE 16.8%
EMN 10.4%
FY17
CE 11.9%
EMN 13.4%
FY18
CE 17.0%
EMN 10.8%
FY19
CE 11.6%
EMN 8.2%
FY20
CE 9.5%
EMN 5.8%
FY21
CE 23.2%
EMN 9.3%
FY22
CE 10.1%
EMN 9.2%
FY23
CE 8.6%
EMN 10.9%
FY24
CE −3.1%
EMN 10.9%
FY25
CE −3.7%
EMN 6.5%
CE
EMN
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.