LYONDELLBASELL INDUSTRIES N.V. (LYB): what the price assumes
boothcheck covers LYONDELLBASELL INDUSTRIES N.V. (LYB) but does not put one priced-in number on it: here the defensible answer is the evidence rather than a point estimate. boothcheck publishes no house fair value, target price, or buy/sell rating. Narrative composed 2026-06-27.
Generated: 2026-08-30 · Exported: 2026-08-31 · Source: https://boothcheck.com/report/LYB
Headline
| Field | Value |
|---|---|
| Ticker | LYB |
| Company | LYONDELLBASELL INDUSTRIES N.V. |
| Current price | $63.67/sh |
| Composition | Olefins and co-products 14% / Polyethylene 24% / Polypropylene 19% / Propylene oxide and derivatives 7% / Oxyfuels and related products 16% / Intermediate chemicals 6% / Compounding and solutions 11% / Other 2% |
What The Price Assumes (Inversion)
The assumption today's price embeds, recovered by inverting the valuation.
| Field | Value |
|---|---|
| Inversion basis | whole-company |
| Operating margin (value-band context) | 7.5% |
| Operating margin (mid-cycle) | 11.1% |
| Margin compression (value-band) | -3.6pp |
| Trailing margin (depressed year) | 3.1% |
| Multiple paid | 8x mid-cycle operating income |
The operating-margin figure is value-band context at year 12: derived from the framework's value band, a separate calculation — not part of the priced-in solve.
The price sits below what even a 5%/yr operating-profit decline would warrant; the inversion reports a bound, not a solved growth path.
Solve inputs: computed at a 7% cost of capital with 4% terminal growth over a 5-year stage.
How unusual the bet is: within-range (limited comparison data)
| Reference | Value |
|---|---|
| vs own history | +0.39σ |
| cohort percentile (of 78 peers) | 4 |
Valuation X-Ray
The price is supported by earnings-power and growth-DCF value, while asset-based lands below the price. A value/asset-supported name, not a pure growth bet.
How the valuation models price the stock relative to the market price. Price/FV above 1.0 means the market pays more than that lens defends (expensive); at or below 1.0 the lens can defend the price.
| Family | Median price/FV | Models | Reads |
|---|---|---|---|
| Asset | 1.93x | 3 | expensive |
| Earnings | 1.13x | 3 | expensive |
| Relative | — | 0 | — |
| Growth | 0.99x | 5 | justifies |
Families that justify the price: Earnings, Growth Families that call it expensive: Asset
The models below discount at their own flat-beta convention rates (cost of equity 9.3%, WACC 9.1%); the inversion above states its own rate.
Per-Model Detail (n=11)
| Model | Family | FV | Price/FV | Applicable | Methodology |
|---|---|---|---|---|---|
| DCF Perpetual Growth | Growth | $64.37 | 0.99x | yes | FCF base $1.6B, growth -1% (input: historical growth), terminal g 0.5%, WACC 9.0%, 5yr projection |
| DCF Exit Multiple | Growth | $73.72 | 0.86x | yes | Exit EV/EBITDA: 12.9x / 14.9x / 16.9x (bear / base = today's held flat / bull), 5yr |
| Relative Valuation | Relative | — | — | no | P/S fallback (negative EPS): Sector P/S 1.5x × TTM revenue — excluded from consensus |
| Simple DDM | Growth | $21.48 | 2.96x | yes | DPS $2.77, g=-3.2% (sustainable: ROE (TTM) × retention; not the terminal-growth assumption), ke=9.3% |
| Two-Stage DDM | Growth | $98.36 | 0.65x | yes | Stage 1: 20% for 5yr, Stage 2: 3.5% perpetual |
| Simple Excess Return | Asset | $33.03 | 1.93x | yes | Reference only (book value floor): BV/sh $33.03, ROE negative |
| Two-Stage Excess Return | Asset | $29.73 | 2.14x | yes | Reference only (book value with convergence): BV/sh $33.03, ROE converges to ke |
| Discounted Future Market Cap | Growth | $43.78 | 1.45x | yes | Rev $31.2B, growth -1% (input: historical growth; tapered), Terminal P/S: 0.6x / 0.7x / 0.8x (bear / base = today's held flat / bull, cap 8x) |
| Peter Lynch Fair Value | Relative | $0.00 | — | no | Negative/zero EPS — earnings-based value floored at $0 |
| Margin Trajectory | Growth | — | — | no | — |
| Earnings Power Value | Earnings | $97.46 | 0.65x | yes | Normalized EBIT (5y avg op income, one-time charges added back) $3.42B × (1−29%) / WACC 9.0% → EPV (no growth) |
| Residual Income | Asset | — | — | no | — |
| Graham Number | Asset | — | — | no | — |
| EV/EBITDA Relative | Relative | — | — | no | EBITDA $1.30B × sector EV/EBITDA 8.0x |
| FCF Yield | Earnings | $56.17 | 1.13x | yes | FCF $1578.0M / Kₑ 9.3% — zero-growth perpetuity |
| SBC-Adj FCF Yield | Earnings | $52.76 | 1.21x | yes | SBC-adj FCF $1.48B (FCF $1.58B − SBC $0.10B) capitalized at Kₑ |
| Ben Graham Formula | Earnings | — | — | no | — |
| ROIC-Justified P/B | Asset | $41.62 | 1.53x | yes | BV $33.03 × (ROIC 11.4% / WACC 9.0%) |
| P/Sales Sector | Relative | — | — | no | Revenue $31.19B × sector P/S 1.5x |
| PEG Fair Value | Relative | — | — | no | — |
| Earnings Yield | Earnings | — | — | no | — |
| Funds From Operations Multiple | Relative | — | — | no | — |
| Clinical Phase NPV | Growth | — | — | no | — |
| Merton | Asset | — | — | no | — |
| V5 Mechanical | — | — | — | no | — |
Economic-Unit Decomposition (Sum Of The Parts)
One or more material disclosed units has unresolved economics. Unknown/general is not evidence of homogeneity: segment SOTP is primary but incomplete, consolidated cash flow may remain only a secondary cross-check when every unit shares an enterprise basis, and one sector multiple or target margin is withheld.
| Unit | Role | Valuation basis | Revenue | Reported profit | Value evidence | Status |
|---|---|---|---|---|---|---|
| O&P - Americas | operating | enterprise | $7.7b | — | withheld | unresolved no unit value |
| O&P - EAI | operating | enterprise | $9.6b | — | withheld | unresolved no unit value |
| I&D | operating | enterprise | $9.0b | — | withheld | unresolved no unit value |
| APS | operating | enterprise | $3.5b | — | withheld | unresolved no unit value |
| Technology | operating | enterprise | $463.0m | — | withheld | unresolved no unit value |
No total common-equity value is stated. One or more material units lack a supported unit value. The displayed values are an indicative subtotal; consolidated debt and cash cannot be applied to a fraction of the company.
Solvency
| Field | Value |
|---|---|
| Net debt | $8.6b |
| Net debt / NOPAT (after-tax) | 3.51x |
| Net debt / operating income (pre-tax) | 2.48x |
| Interest coverage | 6.4x |
| Burning cash | no |
Leverage and coverage are computed on normalized mid-cycle operating income (mid-cycle margin 11.1%); the trailing year was depressed.
Bullet Takeaways
- LyondellBasell is a low-cost, North America-advantaged producer of polyethylene and polypropylene at the bottom of a deep petrochemical cycle, with normalized through-cycle earnings power well above the trough results the stock currently shows.
- The biggest risk is the cycle itself: trailing operating margin turned slightly negative, and the company cut its dividend 50% from $1.37 to $0.69 per quarter in February 2026, the clearest signal the cash flow could not support the prior payout.
- Watch the margin recovery and the cash plan: management expects sequential second-quarter improvement and is targeting a $1.3 billion cash-improvement plan plus a mid-cycle EBITDA margin above 21% via European asset sales.
Bull Case
The balance sheet is where the LyondellBasell story has to start, because it is what determines whether the company can wait out a chemical downturn that has pushed even strong operators into the red. LYB ended the first quarter with $2.6 billion of cash and $7.3 billion of available liquidity, and management is explicit about defending an investment-grade balance sheet. That liquidity is the difference between a cyclical that survives to the next upcycle and one that is forced into distressed decisions at the bottom. The company has made hard choices to protect it, cutting the dividend in half and launching a $1.3 billion cash-improvement plan to be completed by the end of 2026.
The earnings power of the franchise is real and currently invisible. The trailing operating margin is slightly negative, but that reflects the deepest petrochemical trough in years, not the through-cycle economics of the business. Capitalizing the five-year average operating income, which spans both boom and bust, points to earnings power far above what the trailing year shows, and the price sits below that normalized figure. LYB is one of the largest producers of polyethylene and polypropylene in the world, with a cost-advantaged North American position tied to cheap US natural gas and ethane, and that feedstock advantage is structural. When the cycle turns, low-cost producers earn outsized margins, and LYB is built to be one of them.
The portfolio is being actively reshaped to lift the floor under future earnings. The company sold four European assets, a milestone in a transformation aimed at raising mid-cycle EBITDA margins from about 18% toward over 21%. Exiting high-cost, structurally disadvantaged European capacity concentrates the company in its advantaged North American and licensing businesses. Management also signaled meaningful sequential improvement expected in the second quarter across most segments, helped by tighter global supply and favorable export pricing. The bull case is a low-cost, well-capitalized cyclical, restructuring at the bottom, with a covered dividend yield around 5% to pay holders while they wait for the recovery.
Bear Case
The structural truth a holder has to face is that this is a deeply cyclical commodity business at or near the bottom of its cycle, and the clearest evidence is that LyondellBasell just cut its dividend in half. The quarterly payout was reduced from $1.37 to $0.69 in February 2026, a 50% cut that management does not make when the business is healthy. A dividend cut is the company telling shareholders that the cash flow could not support the prior payout, and it reframes the stock: this is not a stable income compounder, it is a cyclical that has been losing money on a trailing basis, with an operating margin that turned slightly negative and a return on equity below zero. The market is pricing a recovery that has not yet arrived.
The commodity nature means LYB controls neither its prices nor the global capacity that sets them. Petrochemical margins are driven by the spread between feedstock costs and product prices, and that spread has been crushed by a wave of new capacity, much of it in China and the Middle East, added during the last boom and still being absorbed. The 10-K is candid about the capital intensity and the financing exposure, warning that the company requires "significant capital to operate our current business and fund our dividends, share repurchases, and growth strategy" and that "limitations on access to external financing could adversely affect our operating results." A capital-hungry business in a low-margin trough is exactly the profile where leverage becomes dangerous, and LYB carries about $10 billion of net debt.
The recovery the price assumes depends on variables outside the company's control. Management points to second-quarter improvement driven partly by Middle East supply disruptions and favorable export pricing, but a margin recovery built on geopolitical supply shocks is not a durable one; it reverses when the disruption clears. The European asset sales improve the structural margin, but they also shrink the company, and the cash-improvement plan is a defensive cost program, not a growth story. Only the relative-multiple lens supports the price; the asset, earnings-power, and growth methods all read it as expensive against trailing results. The bear case is straightforward: a money-losing cyclical that just cut its dividend, carrying real debt into a chemical glut, is cheap for a reason, and the timing and strength of the recovery that would vindicate the price are genuinely uncertain.
Valuation
The price has to be read as a bet on a cyclical recovery, because that is the only way the methods reconcile. Trailing results are at a trough: the operating margin is slightly negative and return on equity is below zero, so the asset-based, earnings-power, and growth methods all read the stock as expensive against current numbers. Only the relative-multiple lens supports the price. That is the unmistakable signature of a commodity business priced not on what it earns today but on what it is expected to earn when the cycle turns. The buyer is underwriting a recovery in petrochemical margins, not paying for the trailing income, which is negative.
The more representative measure is normalized, through-cycle earnings power, and it tells a more constructive story than the trough does. Capitalizing the five-year average operating income, which smooths across the boom and the bust, points to earnings power well above the current price, reflecting the value of LYB's cost-advantaged North American scale. The gap between that normalized figure and the depressed trailing methods is the entire valuation question: if you believe the cycle reverts toward its historical mid-point, the stock is cheap; if the chemical glut persists and margins stay compressed, the trailing methods are the honest read. The portfolio reshaping, exiting European assets to lift mid-cycle margins toward 21%, is management's attempt to raise that normalized floor.
Solvency is the dimension that bounds the downside and justifies the willingness to wait. LYB holds $2.6 billion of cash and $7.3 billion of liquidity against roughly $10 billion of net debt, and the 50% dividend cut plus the $1.3 billion cash-improvement plan are deliberate moves to protect the balance sheet and an investment-grade rating through the trough. The company is generating positive free cash flow even in a difficult environment. The decisive variable for the price is the timing and durability of the margin recovery: the normalized earnings power supports a value above today's level, but realizing it requires the chemical cycle to turn, and the dividend cut is the company's own acknowledgment that the bottom has been deeper and longer than hoped.
Catalysts
The first-quarter 2026 report on May 1 was a beat against low expectations even as year-over-year earnings fell. The shares rose on the print, with management emphasizing cost discipline, cash generation, and continued capital returns, including $224 million of shareholder returns alongside $269 million of capital expenditure, while holding $2.6 billion of cash and $7.3 billion of liquidity. The defining capital decision had come earlier: the quarterly dividend was cut 50% from $1.37 to $0.69 in February 2026 to protect the balance sheet through the downturn.
The forward catalysts are the margin recovery and the portfolio transformation. Management anticipates significant sequential improvement in the second quarter across most segments, driven by tighter supply from Middle East disruptions and favorable export pricing for North American olefins and polyolefins. The strategic sale of four European assets advances a plan to lift mid-cycle EBITDA margins from about 18% toward over 21%, and the company is targeting a $1.3 billion cash-improvement plan by the end of 2026. The catalysts that matter are the trajectory of petrochemical margins, which determines whether the trough is ending, and the execution of the cost and portfolio programs, which set the normalized earnings power the price is betting on.
Peer Cohorts (Per Segment, With Filing Citations)
O&P - Americas / O&P - EAI (reported)
- DOW (Dow Inc.)
- FY2025 10-K: …were primarily related to the Company's insurance operations and licensing of patents and technologies. Disaggregation of Revenue Dow disaggregates its revenue from contracts with customers by operating segment and business, as the Company believes it best depicts the nature, amount, timing and uncertainty of its…
- FY2025 10-K: …optimize its global asset footprint. Additionally, the Company recognized a $303 million pretax impairment charge related to assets used for chlor-alkali, propylene oxide and brine production in Latin America due to challenging economic conditions in the region. The impairment charge included $71 million related to…
- WLK (Westlake Corporation)
- FY2025 10-K: …2025-01-01 2025-12-31 0001262823 us-gaap:OperatingSegmentsMember wlk:HousingProductsMember wlk:HousingAndInfrastructureProductsMember 2024-01-01 2024-12-31 0001262823 us-gaap:OperatingSegmentsMember wlk:HousingProductsMember wlk:HousingAndInfrastructureProductsMember 2023-01-01 2023-12-31 0001262823…
- FY2025 10-K: …us-gaap:ForeignPlanMember us-gaap:FairValueInputsLevel2Member us-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMember 2025-12-31 0001262823 us-gaap:EquitySecuritiesMember us-gaap:ForeignPlanMember us-gaap:FairValueInputsLevel3Member us-gaap:DefinedBenefitPlanEquitySecuritiesSmallCapMember 2025-12-31 0001262823…
- CE (CELANESE CORPORATION)
- FY2025 10-K: …Fragrances Corporation, No. 2:23-cv-1699 (U.S. District Court New Jersey) (the "2023 OCC Lawsuit"). Like the earlier lawsuit, the 2023 OCC Lawsuit concerns the facility Essex County, New Jersey purchased and for which Essex County, New Jersey has agreed to defend and indemnify the Company. This new lawsuit does not…
- FY2025 10-K: …products or technologies, or the theft of such intellectual property; • potential liability for remedial actions and increased costs under existing or future environmental, health and safety regulations, including those relating to climate change or other sustainability matters; • changes in currency exchange rates…
- EMN (EASTMAN CHEMICAL CO)
- FY2025 10-K: …2025-01-01 2025-12-31 0000915389 srt:LatinAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueSegmentMember emn:FibersMember 2024-01-01 2024-12-31 0000915389 srt:LatinAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueSegmentMember emn:FibersMember 2023-01-01…
- FY2025 10-K: …us-gaap:ProductConcentrationRiskMember us-gaap:SalesRevenueSegmentMember emn:AdditivesAndFunctionalProductsMember 2023-01-01 2023-12-31 0000915389 srt:NorthAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueSegmentMember emn:AdditivesAndFunctionalProductsMember 2025-01-01 2025-12-31…
- HUN (Huntsman Corporation)
- FY2025 10-K: …Systems House Cartagena, Colombia Polyurethanes Polyurethane Systems House Castelfranco Emilia, Italy Polyurethanes Polyurethane Systems House Dammam, Saudi Arabia (3) Polyurethanes Polyurethane Systems House Deer Park, Australia (1) Polyurethanes Polyurethane Systems House Deggendorf, Germany Polyurethanes…
- FY2025 10-K: 24-12-31 0001307954 us-gaap:OperatingSegmentsMember hun:PerformanceProductsMember hun:RestOfWorldMember 2024-01-01 2024-12-31 0001307954 us-gaap:OperatingSegmentsMember hun:AdvancedMaterialsMember hun:RestOfWorldMember 2024-01-01 2024-12-31 0001307954 hun:CorporateAndReconcilingItemsMember hun:RestOfWorldMember…
- CC (Chemours Co)
- FY2025 10-K: Production Facilities Region Thermal & Specialized Solutions Titanium Technologies Advanced Performance Materials Shared Locations North America Corpus Christi, Texas El Dorado, Arkansas (1) LaPorte, Texas (1) Louisville, Kentucky (1) DeLisle, Mississippi New Johnsonville, Tennessee Jesup, Georgia (Mine) (1) Nahunta,…
- FY2025 10-K: …us-gaap:TaxAndCustomsAdministrationNetherlandsMember 2025-01-01 2025-12-31 0001627223 stpr:NJ cc:PFASAndOtherChemicalsExposureMember 2025-12-31 0001627223 us-gaap:ForeignExchangeContractMember cc:NetMonetaryAssetsAndLiabilitiesHedgeMember 2025-01-01 2025-12-31 0001627223 us-gaap:OperatingSegmentsMember…
I&D (reported)
- DOW (Dow Inc.)
- FY2025 10-K: …in paper packaging for food and beverage markets, as well as adding new silicone intermediates and downstream product capabilities across multiple end-markets such as infrastructure; consumer and electronics; personal care; and mobility. Investments in innovation for growth are focused on addressing market needs such…
- FY2025 10-K: …rates and over forecasts of future revenue growth rates, EBITDA, and EBITDA margin. • We evaluated management's determination and evaluation of triggering events. • We evaluated the consistency of estimates and assumptions relating to revenue and EBITDA growth inherent in the discounted cash flow model for the…
- CE (CELANESE CORPORATION)
- FY2025 10-K: …where growth is driven by increasing new project commercializations from the pipeline. Our project pipeline model leverages competitive advantages that include our global assets and resources, marketplace presence, broad materials portfolio and differentiated capabilities. Our global assets and resources are…
- FY2025 10-K: …We may continue to experience difficulties and delays achieving the intended benefits from acquiring the M&M Business. In November 2022, we completed the acquisition of the Mobility & Materials business ("M&M Business") of DuPont de Nemours, Inc. (the "M&M Acquisition"). Since closing, we have actively worked, and…
- EMN (EASTMAN CHEMICAL CO)
- FY2025 10-K: Eastman's strategy is to target industries and markets where the Company can leverage its application development expertise to develop product offerings to provide differentiated value that addresses current and future customer and market needs. The Company's strategic marketing approach and capabilities leverage the…
- FY2025 10-K: …us-gaap:ProductConcentrationRiskMember us-gaap:SalesRevenueSegmentMember emn:AdditivesAndFunctionalProductsMember 2023-01-01 2023-12-31 0000915389 srt:NorthAmericaMember us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueSegmentMember emn:AdditivesAndFunctionalProductsMember 2025-01-01 2025-12-31…
- HUN (Huntsman Corporation)
- FY2025 10-K: …ARALDITE ® brand reputation, a robust supply chain and a specialized distribution channel to fulfill customers' expectant demand for service and quality. Our major competitors include 3M, Henkel, ITW and Parker Hannifin. R esearch and D evelopment We support our businesses with a major commitment to research and…
- FY2025 10-K: …and toughening technologies, backed by application and process manufacturing knowledge. Our product offering allows for reliable and competitive solutions, with a strong ARALDITE ® and PROBIMER ® brand reputation, a robust supply chain and a specialized distribution channel to fulfill customers' expectant demand for…
- OLN (Olin Corporation)
- FY2025 10-K: …rising leaders. A tiered leadership development program equips our critical talent with tools to support their continued growth in, and aspirations toward, leadership roles. These programs help our employees improve, grow, and reinforce our values. Our learning platform provides a variety of educational opportunities…
- FY2025 10-K: …related to the use, storage, handling, generation, transportation, emission, discharge, disposal and remediation of, and exposure to, hazardous and non-hazardous substances and wastes in all of the countries in which we do business. The establishment and implementation of national, state or provincial and local…
- WLK (Westlake Corporation)
- FY2025 10-K: …external manufacturer's representatives. In North America, we operate 39 leased and 8 owned distribution centers, storage facilities and warehouses that service and supply these products to local customers, contractors and distributors. We also engage in advertising programs primarily directed at trade professionals…
- FY2025 10-K: …2025-01-01 2025-12-31 0001262823 us-gaap:OperatingSegmentsMember wlk:HousingProductsMember wlk:HousingAndInfrastructureProductsMember 2024-01-01 2024-12-31 0001262823 us-gaap:OperatingSegmentsMember wlk:HousingProductsMember wlk:HousingAndInfrastructureProductsMember 2023-01-01 2023-12-31 0001262823…
APS (reported)
- AVNT (AVIENT CORPORATION)
- FY2025 10-K: EL SpA. Amy M. Sanders : Senior Vice President, General Counsel and Secretary, April 2024 to date. Senior Vice President and Deputy Chief Legal Officer, Global Operations, Eaton Corporation (a power management company) from October 2023 to April 2024. Senior Vice President and Deputy General Counsel, Business Counsel,…
- FY2025 10-K: …0001122976 false 2025 FY http://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2025#CostOfGoodsAndServicesSold http://fasb.org/us-gaap/2025#SellingGeneralAndAdministrativeExpense…
- CE (CELANESE CORPORATION)
- FY2025 10-K: …completed at most sites, and the status of the insurance coverage for some of these proceedings is uncertain. Consequently, the Company cannot accurately determine its ultimate liability for investigation or cleanup costs at these sites. As events progress at each site for which it has been named a PRP, the Company…
- FY2025 10-K: …us-gaap:FairValueHedgingMember 2024-12-31 0001306830 us-gaap:OtherNoncurrentAssetsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CurrencySwapMember currency:JPY us-gaap:FairValueInputsLevel2Member us-gaap:FairValueHedgingMember 2024-12-31 0001306830…
- EMN (EASTMAN CHEMICAL CO)
- FY2025 10-K: …emn:AdvancedMaterialsMember 2025-01-01 2025-12-31 0000915389 srt:AsiaPacificMember us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueSegmentMember emn:AdvancedMaterialsMember 2024-01-01 2024-12-31 0000915389 srt:AsiaPacificMember us-gaap:GeographicConcentrationRiskMember us-gaap:SalesRevenueSegmentMember…
- FY2025 10-K: …gut health solutions preservation and hygiene Coatings Additives Polymers cellulosics polyesters polyolefins Additives and Solvents Texanol ™ Optifilm ™ ketones esters EastaPure ™ electronic chemicals specialty coalescents specialty solvents paint additives specialty polymers BASF SE Dow Inc. OXEA Celanese…
- DD (DUPONT DE NEMOURS, INC.)
- FY2025 10-K: …Directors approved a new share repurchase program authorizing the repurchase and retirement of up to $ 5 billion of common stock (the "$ 5 B Share Buyback Program", together with the 2022 Share Buyback Program, the "2022 Stock Repurchase Programs") in addition to the $ 250 million remaining under the Company's…
- FY2025 10-K: …share repurchase agreements with three financial counterparties to repurchase an aggregate of $ 2 billion of common stock ("$ 2 B ASR Transaction"). DuPont paid an aggregate of $ 2 billion to the counterparties and received initial deliveries of 21.2 million shares in aggregate of DuPont common stock, which were…
- HXL (HEXCEL CORP /DE/)
- FY2025 10-K: …utilized. The repurchases of the Company's common stock under the 2024 Share Repurchase Plan were made in open market transactions, block transactions, privately negotiated purchase transactions or other purchase techniques at the discretion of management based upon consideration of market, business, legal,…
- FY2025 10-K: …during the term of the ASR Agreements, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR Agreements. Upon final settlement of the ASR, under certain circumstances, each of the Counterparties may be required to deliver additional shares of common stock, or the Company may be…
Technology (reported)
- DOW (Dow Inc.)
- FY2025 10-K: …information; and the risk of loss or security of the private data of the Company, its customers and its employees could negatively impact the Company's business strategy, results of operations, financial condition and reputation. The Company relies on various information systems, including information systems…
- FY2025 10-K: …in paper packaging for food and beverage markets, as well as adding new silicone intermediates and downstream product capabilities across multiple end-markets such as infrastructure; consumer and electronics; personal care; and mobility. Investments in innovation for growth are focused on addressing market needs such…
- WLK (Westlake Corporation)
- FY2025 10-K: …opportunities. Depending on an employee's position and job responsibilities, these opportunities include safety training, technical courses, compliance training relating to company policies, business and professional development training, and professional growth classes. We also periodically conduct employee surveys…
- FY2025 10-K: …for software costs to increase the operability of the recognition guidance considering different methods of software development and clarify the criteria for capitalizing software costs. The amendments are effective for annual reporting periods beginning after December 15, 2027 and interim reporting periods within…
- CE (CELANESE CORPORATION)
- FY2025 10-K: …and withstanding deformation. Nylon compounds are used in a range of applications including automotive, consumer, electrical, electronic and industrial. These value-added applications in diverse end uses support the business' global growth objectives. POM, PBT and LFRT are used in a broad range of…
- FY2025 10-K: …materially affect our business. We have been and will continue to be subject to advanced and persistent threats in the areas of information and operational technology security and fraud. We rely on information and operational technology systems, including tools that utilize artificial intelligence, to conduct our…
- EMN (EASTMAN CHEMICAL CO)
- FY2025 10-K: …at the Kingsport, Tennessee site, which is supplied from Eastman's vertically integrated gasification facility and is the largest and most integrated acetate tow site in the world. The Fibers segment also expects to benefit from Eastman's carbon renewal technology, which enables the substitution of fossil feedstock…
- FY2025 10-K: …security best practices; and (viii) benchmarking using external third parties. The Company employs these, and other measures, to protect its information assets and operations from internal and external cyber threats while ensuring business resiliency. It also aims to protect employee, customer and supplier…
- HUN (Huntsman Corporation)
- FY2025 10-K: …for growth and change could have a material adverse effect on our business, results of operations and/or financial condition. In addition, we may fail to fully achieve the savings or growth projected for current or future initiatives notwithstanding the expenditure of substantial resources in pursuit thereof. 15…
- FY2025 10-K: …products, processes or applications or the failure to keep pace with evolving technological innovations in our end-use markets, could make us less competitive and have an adverse impact on our financial results. Moreover, if any of our current or future competitors develops proprietary technology that enables them to…
- OLN (Olin Corporation)
- FY2025 10-K: …suppliers, fulfill customer orders and maintain our financial, accounting or other business records. Failure or interruption of one, or more than one, of our information technology systems to perform as anticipated could be caused by internal or external events or parties, such as incursions by intruders or hackers,…
- FY2025 10-K: …such as converted epoxy resins and additives, which represented 20% of 2025 sales. The Winchester segment produces and sells sporting ammunition, reloading components, small caliber military ammunition and components, industrial cartridges and clay targets, along with contracted U.S. military project revenue, which…
- CC (Chemours Co)
- FY2025 10-K: …hemisphere for residential, commercial, and automotive air conditioning in the spring, which peaks in the summer months, and then declines in the fall and winter. Mobile air conditioning demand is slightly higher in the first half of the year due to the timing of automotive production shutdowns in the second half of…
- FY2025 10-K: …cc:TitaniumTechnologiesMember 2025-01-01 2025-12-31 0001627223 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:NetInvestmentHedgingMember us-gaap:CrossCurrencyInterestRateContractMember cc:SeniorUnsecuredNotesEightPointZeroZeroZeroDueJanuaryTwoThousandThirtyThreeMember 2025-12-31 0001627223…
- DD (DUPONT DE NEMOURS, INC.)
- FY2025 10-K: …expertise, supported by a portfolio of established brands, to advance new product and solution development. Details on Diversified Industrials 2025 net sales, by business and geographic region, are as follows: Building Technologies provides solutions for the non‑residential, residential, and repair‑and‑remodel…
- FY2025 10-K: …practices, pricing strategies, customer services and a changing regulatory landscape. The Company provides its customers with extensive support and technical and testing services, in addition to new product development informed by specific industry technological, sustainability and regulatory needs and evolving…
Methodology Note
- Priced-in inversion: the valuation is inverted on the current price to recover the operating-income growth, duration, and steady-state margin the price embeds (ROE for financials, FFO growth for REITs).
- Valuation x-ray: the valuation models, grouped into four families (asset, earnings, relative, growth). Each model is expressed as a price/FV ratio (distance from price), not a point fair-value estimate. The spread across families is the disagreement.
- Economic-unit decomposition (SOTP): each disclosed business unit is assigned its native valuation basis before any multiple is applied. Operating units are valued on enterprise value; funded financial units are valued on their own common equity, because their borrowings fund earning assets rather than levering the parent. A company total is stated only once every material unit carries a supported value and the parent capital bridge reconciles.
- Solvency: net cash/debt, net-debt-to-NOPAT, interest coverage, and share-count CAGR from EDGAR financials (net debt / FFO and fixed-charge coverage for REITs; regulatory-capital framing for financials).
- Peer cohorts: per-segment comparables with deep-linkable SEC filing citations.
Fundamentals sourced from SEC EDGAR filings. Current price from Databento. The priced-in inversion and valuation x-ray are computed by the boothcheck engine; narrative composed by AI from the structured data.
Sources
LyondellBasell dividend announcement, February 2026 · LyondellBasell Q1 FY2026 results, May 2026 · LyondellBasell Q1 FY2026 outlook, May 2026