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Makes specialty plastics, fibers and coatings materials, with a growing focus on molecular (chemical) plastics recycling technology.
Makes specialty plastics, fibers and coatings materials, with a growing focus on molecular (chemical) plastics recycling technology.
Makes its materials through an integrated chain at its Kingsport, Tennessee site, and charges premium prices over commodity plastics for performance. It built a large methanolysis plant there, which breaks plastic waste back into raw materials, a business whose economics depend on brand owners paying for recycled content.
Moat: narrow (IP / patents, process know-how). Proprietary specialty polymer chemistry (Tritan) and pioneering molecular recycling technology differentiate it from commodity plastics makers.
Headquarters: Kingsport, Tennessee, US · Founded: 1920 · Employees: 13,000
Size Eastman Chemical (EMN) is a United States Materials company (Chemicals: Specialty) with a market value of $7.37B, the 936th largest of 3,117 United States companies the cockpit tracks. Shares closed at $64.41 on 6 Nov 2026.
Performance Over six months the shares fell 12.6%, against -14.4% for the median peer and -1.1% for the United States market (cap-weighted) — 10th highest of 21 in its peer set.
Growth Revenue grew 0.4% over the last twelve months (peer median +11.6%); the operating margin is 10.2% (peer median 15.8%).
Valuation It trades at 10.2× forward earnings against a peer median of 19.0× (4th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 5% a year for seven years (Req g). Recent delivered growth is +1%, so the hurdle is +4 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 1.5 points below its cost of capital (8.3% WACC).
Credit Eastman Chemical has 9 bonds outstanding ($5.06B), rated BBB by the agencies and trading like BBB at a weighted spread of 96 bp.
Short interest Short interest is 5.5% of the free float (15 Oct 2026).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $9.06B | $8.76B | $9.37B | $9.20B | $10.5B |
| Revenue growth | — | -7% | +2% | -13% | — |
| Gross profit | $1.87B | $1.86B | $2.33B | $2.06B | $2.06B |
| EBITDA | $1.46B | $1.46B | $1.85B | $1.59B | $1.56B |
| Net income | $647M | $474M | $905M | $894M | $793M |
| Free cash flow | $469M | $424M | $688M | $546M | $364M |
| Capital expenditure | $410M | $546M | $599M | $833M | $624M |
| Total debt | $5.22B | $4.96B | $5.16B | $5.02B | $5.35B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Eastman Chemical EMN | $7.37B | -13% | 0% | 10% | 10.2× | 5.1% |
| Celanese CE | $5.10B | -19% | +1% | 9% | 7.6× | 5.3% |
| DuPont DD | $19.4B | -1% | -43% | 14% | 18.3× | 14.7% |
| Basf BAS.DE | $52.6B | +2% | -4% | 7% | 16.8× | 5.7% |
| Dow DOW | $22.7B | -14% | +4% | 5% | 14.8× | 4.3% |
| Daicel 4202.T | $2.48B | +24% | +2% | 7% | 11.1× | 6.1% |
| Skchem 285130.KS | $588M | -27% | +27% | 0% | 33.8× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | EMN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.0% | -4.8% | 9th highest of 21 |
| 6-month return | -12.6% | -14.4% | 10th highest of 21 |
| Distance from 52-week high | -22.8% | -37.5% | 5th highest of 21 |
| Revenue growth (TTM) | +0.4% | +11.6% | 4th lowest of 21 |
| Operating margin | 10.2% | 15.8% | 6th lowest of 21 |
| Forward P/E | 10.2× | 19.0× | 4th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 5.1% | 9.3% | 8th least demanding of 17 |
| Growth delivered (Del g) | +0.7% | +12.8% | 2nd lowest of 17 |
| Hurdle (Req g minus delivered) | +4.4 pp | -7.2 pp | 4th most demanding of 17 |
| ROIC minus cost of capital | -1.5 pp | +0.4 pp | 6th lowest of 21 |
| EV / EBITDA | 8.2× | 14.1× | 2nd cheapest of 10 |
| Net debt / EBITDA | 3.0× | 1.3× | 2nd most indebted of 11 |
| Bond spread | 96 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Eastman Chemical EMN | United States | $7.37B | -13% | 0% | 10% | 10.2× | 5.1% | +0.7% |
| Croda International CRDA.L | United Kingdom | $6.88B | +31% | +3% | 16% | 23.3× | 19.9% | +4.1% |
| Westlake WLK | United States | $8.11B | -32% | 0% | 1% | 38.6× | 37.4% | +8.3% |
| Shandong Hualu-Hengsheng Chemical 600426.SS | China | $8.27B | -32% | +3% | 16% | 12.3× | -2.5% | +18.7% |
| SOL SOL.MI | Italy | $6.39B | +6% | +9% | 14% | 30.5× | 16.9% | +12.8% |
| NewMarket NEU | United States | $6.39B | +1% | +1% | 20% | n/a | -0.8% | +6.3% |
| Haohua Chemical Science & Technology 600378.SS | China | $6.29B | -9% | +20% | 9% | 22.1× | 11.0% | +25.2% |
| Guangzhou Tinci Materials Technology 002709.SZ | China | $8.73B | -53% | +102% | 19% | 10.3× | 9.3% | +32.3% |
| Linde India LINDEINDIA.NS | India | $6.20B | -13% | +13% | 22% | 97.2× | 47.9% | +11.5% |
| Tianqi Lithium 9696.HK | Hong Kong | $8.79B | -64% | +116% | 57% | 5.0× | -10.8% | +25.3% |
| Shenzhen Capchem Technology 300037.SZ | China | $6.16B | -21% | +72% | 13% | 19.0× | 19.3% | +26.6% |
| Inner Mongolia Junzheng Energy & Chemical 601216.SS | China | $5.92B | -16% | +3% | 11% | 12.0× | -3.4% | +11.3% |
| Kingboard 0148.HK | Hong Kong | $5.78B | -17% | +19% | 15% | 5.0× | n/a | n/a |
| Nissan Chemical 4021.T | Japan | $5.72B | 0% | +10% | 23% | 15.9× | 9.3% | +6.0% |
| Zhejiang Longsheng 600352.SS | China | $5.70B | -11% | -1% | 19% | 13.7× | -5.2% | -3.1% |
| Coromandel International COROMANDEL.NS | India | $5.69B | -7% | +24% | 8% | 27.3× | n/a | n/a |
| Canmax Technologies 300390.SZ | China | $5.62B | -64% | +98% | 27% | 7.3× | n/a | n/a |
| Ganfeng Lithium 002460.SZ | China | $9.71B | -57% | +128% | 18% | 11.5× | 4.4% | +33.1% |
| LB Group Co., Ltd. Class A 002601.SZ | China | $5.58B | -8% | +7% | 7% | 22.4× | 5.0% | +12.9% |
| Gujarat Fluorochemicals FLUOROCHEM.NS | India | $5.42B | +23% | +20% | 17% | 53.0× | n/a | n/a |
| Hoshine Silicon Industry 603260.SS | China | $5.32B | -33% | -7% | -6% | 41.7× | 22.5% | +18.5% |
Eastman Chemical has 9 bonds outstanding with $5.06B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.75%, a spread of 96 bp over government bonds.