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Makes chlor-alkali chemicals and epoxy resins, and manufactures Winchester-branded ammunition.
Makes chlor-alkali chemicals and epoxy resins, and manufactures Winchester-branded ammunition.
Earns from three businesses on different cycles: chlorine and caustic soda, which come out of the same process in fixed proportion and so are sold together, epoxy resins, and Winchester ammunition. The 2015 purchase of Dow's chlorine businesses built its chemicals size, and Winchester also runs the US Army's Lake City ammunition plant under contract.
Moat: narrow (scale, brand, regulatory licence). Large chlor-alkali production scale and the well-known Winchester ammunition brand with defense contracts.
Headquarters: Clayton, Missouri, United States · Founded: 1892 · Employees: 7,849
Size Olin (OLN) is a United States Materials company (Industrial Specialties) with a market value of $1.97B, the 1796th largest of 3,117 United States companies the cockpit tracks. Shares closed at $17.31 on 6 Nov 2026.
Performance Over six months the shares fell 35.5%, against -2.8% for the median peer and -1.1% for the United States market (cap-weighted) — 4th lowest of 20 in its peer set.
Growth Revenue fell 0.7% over the last twelve months (peer median +12.1%); the operating margin is 0.3% (peer median 10.8%).
Valuation It trades at 0.8× enterprise value to sales against a peer median of 2.7× (2nd cheapest of 21).
Price implies For today's price to make sense, revenue must grow about 44% a year for seven years (Req g). Recent delivered growth is +3%, so the hurdle is +41 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 7.0 points below its cost of capital (7.3% WACC).
Credit Olin has 2 bonds outstanding ($1.27B), rated BB by the agencies and trading like BB- at a weighted spread of 205 bp.
Short interest Short interest is 13.2% of the free float (15 Oct 2026).
Next results Next results expected around 28 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $6.74B | $6.78B | $6.54B | $6.83B | $9.38B |
| Revenue growth | — | +4% | -4% | -27% | — |
| Gross profit | $454M | $484M | $768M | $1.23B | $2.12B |
| EBITDA | $501M | $652M | $889M | $1.41B | $2.38B |
| Net income | -$168M | -$100M | $109M | $460M | $1.33B |
| Free cash flow | $222M | $248M | $308M | $738M | $1.69B |
| Capital expenditure | $200M | $257M | $254M | $300M | $275M |
| Total debt | $3.40B | $3.14B | $3.15B | $3.02B | $2.94B |
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 | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| Olin OLN | $1.97B | -36% | -1% | 0% | 0.8× | 44.0% |
| Westlake WLK | $8.11B | -32% | 0% | 1% | 1.1× | 37.4% |
| Dow DOW | $22.7B | -14% | +4% | 5% | 0.9× | 4.3% |
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 | OLN | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +10.9% | -16.3% | 2nd highest of 21 |
| 6-month return | -35.5% | -2.8% | 4th lowest of 20 |
| Distance from 52-week high | -43.2% | -35.4% | 9th lowest of 21 |
| Revenue growth (TTM) | -0.7% | +12.1% | 2nd lowest of 21 |
| Operating margin | 0.3% | 10.8% | 2nd lowest of 21 |
| EV / Sales | 0.8× | 2.7× | 2nd cheapest of 21 |
| Growth the price implies (Req g, 7 yrs) | 44.0% | 19.5% | most demanding of 17 |
| Growth delivered (Del g) | +3.3% | +12.7% | 3rd lowest of 17 |
| Hurdle (Req g minus delivered) | +40.7 pp | +0.6 pp | most demanding of 17 |
| ROIC minus cost of capital | -7.0 pp | +1.2 pp | 2nd lowest of 21 |
| EV / EBITDA | 10.3× | 11.0× | 6th cheapest of 11 |
| Net debt / EBITDA | 6.4× | -0.7× | most indebted of 11 |
| Bond spread | 205 bp | n/a | — |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Olin OLN | United States | $1.97B | -36% | -1% | 0% | 0.8× | 44.0% | +3.3% |
| KCC 002380.KS | South Korea | $1.91B | -34% | 0% | 6% | 1.0× | 3.8% | +5.0% |
| Anhui Jiangnan Chemical Industry 002226.SZ | China | $2.07B | -3% | +13% | 11% | 1.9× | -3.0% | +20.5% |
| Lintec 7966.T | Japan | $1.87B | -14% | +3% | 8% | 0.8× | 1.5% | +6.2% |
| Gansu Energy Chemical 000552.SZ | China | $1.86B | -19% | +11% | 3% | 2.6× | n/a | n/a |
| Carborundum Universal CARBORUNIV.NS | India | $2.10B | +4% | +12% | 7% | 3.5× | 43.4% | +14.6% |
| Zhejiang Runtu 002440.SZ | China | $1.77B | -1% | +23% | 17% | 1.6× | -5.5% | +2.0% |
| Triumph Science & Technology 600552.SS | China | $1.76B | -20% | +12% | 5% | 2.8× | 21.3% | +3.1% |
| Zhejiang Fulai New Material 605488.SS | China | $2.21B | +47% | +19% | 2% | 4.6× | 31.8% | +17.6% |
| Jiangsu Shemar Electric 603530.SS | China | $2.23B | -44% | +17% | 29% | 7.9× | 23.4% | +21.1% |
| Explosive 002096.SZ | China | $1.74B | -14% | -3% | 9% | 1.1× | -2.5% | +37.7% |
| Grindwell Norton GRINDWELL.NS | India | $2.25B | +16% | +14% | 16% | 6.2× | 37.8% | +13.4% |
| Henan Huanghe Whirlwind 600172.SS | China | $2.27B | +29% | +13% | -30% | 11.8× | n/a | n/a |
| Aica Kogyo 4206.T | Japan | $1.68B | +19% | +5% | 12% | 1.1× | -7.0% | +7.6% |
| Kansai Nerolac Paints KANSAINER.NS | India | $1.67B | -7% | +10% | 9% | 1.6× | 22.1% | +9.7% |
| Zeon 4205.T | Japan | $2.34B | +6% | +4% | 11% | 0.8× | -1.5% | +6.4% |
| UFP Technologies UFPT | United States | $2.35B | +32% | +9% | 15% | 3.7× | 17.8% | +27.4% |
| Kunshan Dongwei Technology 688700.SS | China | $1.64B | -40% | +56% | 13% | 7.0× | 23.1% | +14.5% |
| Pamica Technology 001359.SZ | China | $2.41B | -1% | +23% | 23% | 10.9× | 38.0% | +12.1% |
| Sichuan Yahua Industrial 002497.SZ | China | $2.48B | -56% | +69% | 18% | 1.4× | n/a | n/a |
| Quanzhou Jiadeli Electronic Materials 603435.SS | China | $2.49B | n/a | +4% | 38% | 21.3× | n/a | n/a |
Olin has 2 bonds outstanding with $1.27B face value. The agencies rate it BB; its bonds trade like BB-. Weighted yield 6.68%, a spread of 205 bp over government bonds.