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Makes specialty chemicals—electronic circuitry materials, industrial coatings and assembly solutions—used in electronics manufacturing.
Makes specialty chemicals—electronic circuitry materials, industrial coatings and assembly solutions—used in electronics manufacturing.
Sells chemicals consumed in making circuit boards, chips and finished metal and plastic parts, such as plating chemistry, solder pastes and coatings, so sales follow the volume of electronics and products its customers make rather than their equipment spending. It renamed itself Element Solutions in 2019 after selling its agricultural business.
Moat: narrow (process know-how, customer qualification, IP / patents). Specialized formulations qualified into electronics manufacturing processes create switching costs.
Headquarters: Fort Lauderdale, Florida, US · Founded: 2013 · Employees: 5,200
Size Element Solutions (ESI) is a United States Materials company (Chemicals: Major Diversified) with a market value of $7.61B, the 917th largest of 3,117 United States companies the cockpit tracks. Shares closed at $31.35 on 6 Nov 2026.
Performance Over six months the shares fell 28.6%, against +1.4% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 21 in its peer set.
Growth Revenue grew 39.6% over the last twelve months (peer median +3.9%); the operating margin is 13.9% (peer median 7.8%).
Valuation It trades at 15.0× forward earnings against a peer median of 15.3× (10th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about 17% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is +10 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 2.0 points below its cost of capital (10.0% WACC).
Credit Element Solutions has 1 bond outstanding ($800M), rated BB+ by the agencies and trading like BB at a weighted spread of 144 bp.
Short interest Short interest is 3.5% of the free float (15 Oct 2026).
Next results Next results expected around 23 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.49B | $2.55B | $2.46B | $2.33B | $2.55B |
| Revenue growth | — | +4% | +5% | -8% | — |
| Gross profit | $1.28B | $1.07B | $1.04B | $918M | $953M |
| EBITDA | $655M | $534M | $535M | $464M | $496M |
| Net income | $205M | $191M | $244M | $118M | $187M |
| Free cash flow | $183M | $228M | $295M | $283M | $248M |
| Capital expenditure | $100M | $62.2M | $68.4M | $52.7M | $47.8M |
| Total debt | $2.08B | $1.71B | $1.91B | $2.03B | $1.98B |
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 |
|---|---|---|---|---|---|---|
| Element Solutions ESI | $7.61B | -29% | +40% | 14% | 15.0× | 16.6% |
| Materion MTRN | $3.88B | -7% | +28% | 7% | 22.3× | 22.7% |
| DuPont DD | $19.4B | -1% | -43% | 14% | 18.3× | 14.7% |
| MKS MKSI | $13.0B | -39% | +16% | 17% | 11.5× | 24.0% |
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 | ESI | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -14.6% | -3.5% | 7th lowest of 21 |
| 6-month return | -28.6% | +1.4% | 3rd lowest of 21 |
| Distance from 52-week high | -36.4% | -22.9% | 7th lowest of 21 |
| Revenue growth (TTM) | +39.6% | +3.9% | 2nd highest of 21 |
| Operating margin | 13.9% | 7.8% | 6th highest of 21 |
| Forward P/E | 15.0× | 15.3× | 10th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | 16.6% | 9.2% | 4th most demanding of 16 |
| Growth delivered (Del g) | +6.6% | +6.6% | 8th lowest of 16 |
| Hurdle (Req g minus delivered) | +10.0 pp | -2.4 pp | 5th most demanding of 16 |
| ROIC minus cost of capital | -2.0 pp | -1.6 pp | 8th lowest of 21 |
| EV / EBITDA | 14.5× | 6.7× | most expensive of 13 |
| Net debt / EBITDA | 2.8× | 1.6× | 2nd most indebted of 14 |
| Bond spread | 144 bp | 104 bp | 2nd widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Element Solutions ESI | United States | $7.61B | -29% | +40% | 14% | 15.0× | 16.6% | +6.6% |
| Mitsubishi Chemical 4188.T | Japan | $8.65B | +10% | -8% | 8% | 8.9× | -0.5% | +2.6% |
| Ecopro 086520.KS | South Korea | $6.55B | -57% | +11% | 9% | 31.5× | n/a | n/a |
| Solstice Advanced Materials SOLS | United States | $9.22B | -26% | +3% | 17% | 17.8× | 0.3% | +2.7% |
| Peric Special Gases 688146.SS | China | $9.58B | +102% | +75% | 19% | 67.1× | 50.8% | +13.1% |
| Sasol Limited Sponsored ADR SSL | United States | $10.3B | +14% | +18% | 22% | 4.8× | n/a | n/a |
| Evonik Industries EVK.DE | Germany | $11.0B | +19% | +2% | 10% | 12.0× | -6.2% | +2.9% |
| Tokyo Ohka Kogyo 4186.T | Japan | $5.03B | -30% | +22% | 21% | 17.8× | 19.9% | +15.1% |
| Arkema AKE.PA | France | $4.96B | -9% | -6% | 5% | 13.7× | 12.5% | +2.8% |
| Kingfa Sci. & Tech 600143.SS | China | $4.96B | -28% | -1% | 3% | 24.6× | -1.2% | +13.3% |
| Perimeter Solutions PRM | United States | $4.83B | -7% | +24% | -51% | 18.3× | 36.6% | +14.0% |
| Wacker Chemie WCH.DE | Germany | $4.42B | -24% | -5% | -1% | 33.0× | n/a | n/a |
| Hubei Xingfa Chemicals 600141.SS | China | $4.19B | -27% | +4% | 8% | 15.3× | n/a | n/a |
| Avient AVNT | United States | $4.17B | +23% | +5% | 11% | 13.0× | 9.9% | +0.1% |
| Mitsui Chemicals 4183.T | Japan | $4.08B | -9% | -3% | 6% | 10.7× | 1.9% | +6.6% |
| Johnson Matthey JMAT.L | United Kingdom | $4.01B | +14% | +8% | 3% | 13.3× | 9.6% | -4.0% |
| Kuraray 3405.T | Japan | $3.52B | +14% | +3% | 7% | 15.0× | -0.2% | +8.3% |
| DuPont DD | United States | $19.4B | -1% | -43% | 14% | 18.3× | 14.7% | -13.7% |
| Grandit 688549.SS | China | $2.89B | +36% | +40% | -1% | n/a | n/a | n/a |
| CES Energy Solutions CEU.TO | Canada | $2.82B | +4% | +11% | 10% | 14.1× | 9.2% | +22.9% |
| Nippon Shokubai 4114.T | Japan | $2.27B | +11% | +4% | 6% | 16.2× | 4.1% | +7.9% |
Element Solutions has 1 bond outstanding with $800M face value. The agencies rate it BB+; its bonds trade like BB. Weighted yield 5.88%, a spread of 144 bp over government bonds.