Chemicals - Specialty
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WLK vs OLN vs CE vs EMN
Revenue, margins, valuation, and 5-year total return — side by side.
Chemicals - Specialty
Chemicals
Chemicals - Specialty
WLK vs OLN vs CE vs EMN — Key Financials
Market cap, revenue, margins, and valuation side-by-side.
| Company Snapshot | ||||
|---|---|---|---|---|
| Industry | Chemicals - Specialty | Chemicals - Specialty | Chemicals | Chemicals - Specialty |
| Market Cap | $12.77B | $3.28B | $6.95B | $8.66B |
| Revenue (TTM) | $10.98B | $6.78B | $9.49B | $8.64B |
| Net Income (TTM) | $-1.64B | $-43M | $-1.02B | $399M |
| Gross Margin | 1.5% | 7.4% | 20.1% | 19.8% |
| Operating Margin | -15.5% | 0.2% | -7.4% | 9.4% |
| Forward P/E | 26.7x | — | 11.1x | 12.8x |
| Total Debt | $6.44B | $3.39B | $12.93B | $5.08B |
| Cash & Equiv. | $2.72B | $168M | $1.26B | $566M |
WLK vs OLN vs CE vs EMN — Long-Term Stock Performance
Price return indexed to 100 at period start. Dividends excluded.
| Stock | May 20 | May 26 | Return |
|---|---|---|---|
| Westlake Corporation (WLK) | 100 | 209.1 | +109.1% |
| Olin Corporation (OLN) | 100 | 239.4 | +139.4% |
| Celanese Corporation (CE) | 100 | 69.1 | -30.9% |
| Eastman Chemical Co… (EMN) | 100 | 111.3 | +11.3% |
Price return only. Dividends and distributions are not included.
Quick Verdict: WLK vs OLN vs CE vs EMN
Each card shows where this stock fits in a portfolio — not just who wins on paper.
WLK is the clearest fit if your priority is income & stability and long-term compounding.
- Dividend streak 12 yrs, beta 1.06, yield 2.1%
- 138.6% 10Y total return vs OLN's 67.4%
- Lower volatility, beta 1.06, Low D/E 69.3%, current ratio 2.24x
- Beta 1.06, yield 2.1%, current ratio 2.24x
OLN is the #2 pick in this set and the best alternative if growth exposure is your priority.
- Rev growth 3.7%, EPS growth -140.7%, 3Y rev CAGR -10.2%
- 3.7% revenue growth vs WLK's -8.0%
- +44.6% vs EMN's +3.9%
CE is the clearest fit if your priority is value.
- Lower P/E (11.1x vs 12.8x)
EMN carries the broadest edge in this set and is the clearest fit for quality and dividends.
- 4.6% margin vs WLK's -14.9%
- 4.4% yield, 12-year raise streak, vs WLK's 2.1%
- 2.6% ROA vs WLK's -8.2%, ROIC 6.7% vs -9.0%
See the full category breakdown
| Category | Winner | Why |
|---|---|---|
| Growth | 3.7% revenue growth vs WLK's -8.0% | |
| Value | Lower P/E (11.1x vs 12.8x) | |
| Quality / Margins | 4.6% margin vs WLK's -14.9% | |
| Stability / Safety | Beta 1.06 vs OLN's 1.47, lower leverage | |
| Dividends | 4.4% yield, 12-year raise streak, vs WLK's 2.1% | |
| Momentum (1Y) | +44.6% vs EMN's +3.9% | |
| Efficiency (ROA) | 2.6% ROA vs WLK's -8.2%, ROIC 6.7% vs -9.0% |
WLK vs OLN vs CE vs EMN — Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
WLK vs OLN vs CE vs EMN — Financial Metrics
Side-by-side numbers across 4 stocks — who leads on profitability, valuation, growth, and risk.
Who Leads Where
EMN leads in 2 of 6 categories
CE leads 1 • WLK leads 0 • OLN leads 0 • 3 tied
Explore the data ↓Income & Cash Flow (Last 12 Months)
CE leads this category, winning 3 of 6 comparable metrics.
Income & Cash Flow (Last 12 Months)
WLK is the larger business by revenue, generating $11.0B annually — 1.6x OLN's $6.8B. EMN is the more profitable business, keeping 4.6% of every revenue dollar as net income compared to WLK's -14.9%. On growth, OLN holds the edge at -0.4% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | ||||
|---|---|---|---|---|
| RevenueTrailing 12 months | $11.0B | $6.8B | $9.5B | $8.6B |
| EBITDAEarnings before interest/tax | -$462M | $538M | $58M | $1.2B |
| Net IncomeAfter-tax profit | -$1.6B | -$43M | -$1.0B | $399M |
| Free Cash FlowCash after capex | -$508M | $248M | $944M | $498M |
| Gross MarginGross profit ÷ Revenue | +1.5% | +7.4% | +20.1% | +19.8% |
| Operating MarginEBIT ÷ Revenue | -15.5% | +0.2% | -7.4% | +9.4% |
| Net MarginNet income ÷ Revenue | -14.9% | -0.6% | -10.8% | +4.6% |
| FCF MarginFCF ÷ Revenue | -4.6% | +3.7% | +9.9% | +5.8% |
| Rev. Growth (YoY)Latest quarter vs prior year | -6.8% | -0.4% | -2.2% | -4.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -3.2% | -9.2% | +3.1% | -40.8% |
Valuation Metrics
Evenly matched — OLN and CE each lead in 2 of 6 comparable metrics.
Valuation Metrics
On an enterprise value basis, EMN's 9.1x EV/EBITDA is more attractive than CE's 12.3x.
| Metric | ||||
|---|---|---|---|---|
| Market CapShares × price | $12.8B | $3.3B | $7.0B | $8.7B |
| Enterprise ValueMkt cap + debt − cash | $16.5B | $6.5B | $18.6B | $13.2B |
| Trailing P/EPrice ÷ TTM EPS | -8.50x | -77.84x | -5.84x | 18.47x |
| Forward P/EPrice ÷ next-FY EPS est. | 26.71x | — | 11.12x | 12.85x |
| PEG RatioP/E ÷ EPS growth rate | — | — | — | 5.75x |
| EV / EBITDAEnterprise value multiple | — | 10.24x | 12.33x | 9.12x |
| Price / SalesMarket cap ÷ Revenue | 1.14x | 0.48x | 0.73x | 0.99x |
| Price / BookPrice ÷ Book value/share | 1.38x | 1.71x | 1.52x | 1.45x |
| Price / FCFMarket cap ÷ FCF | — | 13.23x | 8.66x | 20.43x |
Profitability & Efficiency
EMN leads this category, winning 6 of 9 comparable metrics.
Profitability & Efficiency
EMN delivers a 6.7% return on equity — every $100 of shareholder capital generates $7 in annual profit, vs $-22 for CE. WLK carries lower financial leverage with a 0.69x debt-to-equity ratio, signaling a more conservative balance sheet compared to CE's 2.89x. On the Piotroski fundamental quality scale (0–9), OLN scores 5/9 vs WLK's 3/9, reflecting solid financial health.
| Metric | ||||
|---|---|---|---|---|
| ROE (TTM)Return on equity | -16.8% | -2.1% | -21.5% | +6.7% |
| ROA (TTM)Return on assets | -8.2% | -0.6% | -4.6% | +2.6% |
| ROICReturn on invested capital | -9.0% | +1.7% | +3.4% | +6.7% |
| ROCEReturn on capital employed | -8.8% | +1.9% | +4.1% | +7.5% |
| Piotroski ScoreFundamental quality 0–9 | 3 | 5 | 4 | 5 |
| Debt / EquityFinancial leverage | 0.69x | 1.76x | 2.89x | 0.84x |
| Net DebtTotal debt minus cash | $3.7B | $3.2B | $11.7B | $4.5B |
| Cash & Equiv.Liquid assets | $2.7B | $168M | $1.3B | $566M |
| Total DebtShort + long-term debt | $6.4B | $3.4B | $12.9B | $5.1B |
| Interest CoverageEBIT ÷ Interest expense | -24.17x | 0.62x | -0.57x | 2.22x |
Total Returns (Dividends Reinvested)
Evenly matched — WLK and EMN each lead in 2 of 6 comparable metrics.
Total Returns (Dividends Reinvested)
A $10,000 investment in WLK five years ago would be worth $10,590 today (with dividends reinvested), compared to $4,276 for CE. Over the past 12 months, OLN leads with a +44.6% total return vs EMN's +3.9%. The 3-year compound annual growth rate (CAGR) favors EMN at 1.9% vs OLN's -17.1% — a key indicator of consistent wealth creation.
| Metric | ||||
|---|---|---|---|---|
| YTD ReturnYear-to-date | +35.2% | +34.6% | +47.5% | +19.0% |
| 1-Year ReturnPast 12 months | +29.2% | +44.6% | +26.9% | +3.9% |
| 3-Year ReturnCumulative with dividends | -10.8% | -43.0% | -37.3% | +6.0% |
| 5-Year ReturnCumulative with dividends | +5.9% | -29.4% | -57.2% | -26.2% |
| 10-Year ReturnCumulative with dividends | +138.6% | +67.4% | +16.9% | +36.1% |
| CAGR (3Y)Annualised 3-year return | -3.7% | -17.1% | -14.4% | +1.9% |
Risk & Volatility
Evenly matched — WLK and OLN each lead in 1 of 2 comparable metrics.
Risk & Volatility
WLK is the less volatile stock with a 1.06 beta — it tends to amplify market swings less than OLN's 1.47 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. OLN currently trades 94.5% from its 52-week high vs WLK's 80.3% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | ||||
|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 1.06x | 1.47x | 1.11x | 1.36x |
| 52-Week HighHighest price in past year | $124.23 | $30.46 | $70.70 | $84.18 |
| 52-Week LowLowest price in past year | $56.33 | $18.08 | $35.13 | $56.11 |
| % of 52W HighCurrent price vs 52-week peak | +80.3% | +94.5% | +87.9% | +90.0% |
| RSI (14)Momentum oscillator 0–100 | 37.3 | 58.1 | 62.4 | 62.8 |
| Avg Volume (50D)Average daily shares traded | 1.2M | 2.7M | 2.4M | 1.5M |
Analyst Outlook
EMN leads this category, winning 2 of 2 comparable metrics.
Analyst Outlook
Analyst consensus: WLK as "Hold", OLN as "Hold", CE as "Hold", EMN as "Buy". Consensus price targets imply 5.3% upside for CE (target: $65) vs -15.5% for OLN (target: $24). For income investors, EMN offers the higher dividend yield at 4.35% vs CE's 0.19%.
| Metric | ||||
|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Hold | Hold | Hold | Buy |
| Price TargetConsensus 12-month target | $101.88 | $24.33 | $65.40 | $77.29 |
| # AnalystsCovering analysts | 32 | 35 | 37 | 35 |
| Dividend YieldAnnual dividend ÷ price | +2.1% | +2.8% | +0.2% | +4.4% |
| Dividend StreakConsecutive years of raises | 12 | 3 | 0 | 12 |
| Dividend / ShareAnnual DPS | $2.11 | $0.80 | $0.12 | $3.30 |
| Buyback YieldShare repurchases ÷ mkt cap | +0.5% | +1.5% | 0.0% | +1.2% |
EMN leads in 2 of 6 categories (Profitability & Efficiency, Analyst Outlook). CE leads in 1 (Income & Cash Flow). 3 tied.
WLK vs OLN vs CE vs EMN: Key Questions Answered
10 questions · data-driven answers · updated daily
01Is WLK or OLN or CE or EMN a better buy right now?
For growth investors, Olin Corporation (OLN) is the stronger pick with 3.
7% revenue growth year-over-year, versus -8. 0% for Westlake Corporation (WLK). Eastman Chemical Company (EMN) offers the better valuation at 18. 5x trailing P/E (12. 8x forward), making it the more compelling value choice. Analysts rate Eastman Chemical Company (EMN) a "Buy" — based on 35 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — WLK or OLN or CE or EMN?
On forward P/E, Celanese Corporation is actually cheaper at 11.
1x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — WLK or OLN or CE or EMN?
Over the past 5 years, Westlake Corporation (WLK) delivered a total return of +5.
9%, compared to -57. 2% for Celanese Corporation (CE). Over 10 years, the gap is even starker: WLK returned +138. 6% versus CE's +16. 9%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — WLK or OLN or CE or EMN?
By beta (market sensitivity over 5 years), Westlake Corporation (WLK) is the lower-risk stock at 1.
06β versus Olin Corporation's 1. 47β — meaning OLN is approximately 39% more volatile than WLK relative to the S&P 500. On balance sheet safety, Westlake Corporation (WLK) carries a lower debt/equity ratio of 69% versus 3% for Celanese Corporation — giving it more financial flexibility in a downturn.
05Which is growing faster — WLK or OLN or CE or EMN?
By revenue growth (latest reported year), Olin Corporation (OLN) is pulling ahead at 3.
7% versus -8. 0% for Westlake Corporation (WLK). On earnings-per-share growth, the picture is similar: Celanese Corporation grew EPS 23. 6% year-over-year, compared to -352. 8% for Westlake Corporation. Over a 3-year CAGR, CE leads at -0. 4% annualised revenue growth. Higher growth typically commands a higher valuation multiple — check whether the premium P/E or P/S is justified by the growth rate using the PEG ratio.
06Which has better profit margins — WLK or OLN or CE or EMN?
Eastman Chemical Company (EMN) is the more profitable company, earning 5.
4% net margin versus -13. 5% for Westlake Corporation — meaning it keeps 5. 4% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: EMN leads at 10. 6% versus -14. 1% for WLK. At the gross margin level — before operating expenses — EMN leads at 21. 1%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
07Is WLK or OLN or CE or EMN more undervalued right now?
On forward earnings alone, Celanese Corporation (CE) trades at 11.
1x forward P/E versus 26. 7x for Westlake Corporation — 15. 6x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for CE: 5. 3% to $65. 40.
08Which pays a better dividend — WLK or OLN or CE or EMN?
All stocks in this comparison pay dividends.
Eastman Chemical Company (EMN) offers the highest yield at 4. 4%, versus 0. 2% for Celanese Corporation (CE).
09Is WLK or OLN or CE or EMN better for a retirement portfolio?
For long-horizon retirement investors, Westlake Corporation (WLK) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 1.
06), 2. 1% yield, +138. 6% 10Y return). Both have compounded well over 10 years (WLK: +138. 6%, CE: +16. 9%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
10What are the main differences between WLK and OLN and CE and EMN?
Both stocks operate in the Basic Materials sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both.
In terms of investment character: WLK is a mid-cap quality compounder stock; OLN is a small-cap quality compounder stock; CE is a small-cap quality compounder stock; EMN is a small-cap income-oriented stock. WLK, OLN, EMN pay a dividend while CE does not, making them suitable for different income and tax situations. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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