Eastman Chemical Company (EMN) Financial Ratios
30 years of historical data (1996–2025) · Basic Materials · Chemicals - Specialty
EV/EBITDA
↓
8.82
-4% vs avg
5yr avg: 9.24
30Y Low4.2·High50.9
P/FCF
↑
19.41
+0% vs avg
5yr avg: 19.31
30Y Low6.0·High35.2
P/B Ratio
↓
1.38
↓-30% vs avg
5yr avg: 1.96
30Y Low1.2·High3.8
ROE
↓
8.0%
↑-42% vs avg
5yr avg: 13.9%
30Y Low-23%·High40%
Debt/EBITDA
↑
3.52
+13% vs avg
5yr avg: 3.12
30Y Low1.2·High25.9
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
EMN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Eastman Chemical Company trades at 17.6x earnings, 23% above its 5-year average of 14.3x, sitting at the 75th percentile of its historical range. Compared to the Basic Materials sector median P/E of 23.4x, the stock trades at a discount of 25%. On a free-cash-flow basis, the stock trades at 19.4x P/FCF, roughly in line with the 5-year average of 19.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $8.2B | $7.4B | $10.8B | $10.7B | $10.2B | $16.6B | $13.7B | $11.0B | $10.4B | $13.5B | $11.2B |
| Enterprise Value | $12.7B | $11.9B | $15.2B | $15.3B | $14.8B | $21.6B | $18.7B | $16.6B | $16.4B | $19.9B | $17.6B |
| P/E Ratio → | 17.55 | 15.57 | 11.91 | 11.99 | 12.83 | 19.35 | 28.65 | 14.46 | 9.67 | 9.18 | 12.88 |
| P/S Ratio | 0.94 | 0.84 | 1.15 | 1.17 | 0.97 | 1.58 | 1.62 | 1.19 | 1.03 | 1.42 | 1.25 |
| P/B Ratio | 1.38 | 1.22 | 1.84 | 1.94 | 1.94 | 2.86 | 2.24 | 1.82 | 1.78 | 2.43 | 2.42 |
| P/FCF | 19.41 | 17.40 | 15.65 | 19.64 | 27.94 | 15.92 | 12.93 | 10.23 | 10.29 | 13.43 | 14.71 |
| P/OCF | 8.48 | 7.61 | 8.37 | 7.81 | 10.43 | 10.24 | 9.41 | 7.30 | 6.77 | 8.17 | 8.06 |
P/E links to full P/E history page with 30-year chart
EMN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Eastman Chemical Company's enterprise value stands at 8.8x EBITDA, roughly in line with its 5-year average of 9.2x. The Basic Materials sector median is 11.0x, placing the stock at a 19% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.36 | 1.62 | 1.66 | 1.41 | 2.06 | 2.21 | 1.79 | 1.62 | 2.09 | 1.96 |
| EV / EBITDA | 8.82 | 8.23 | 8.06 | 9.61 | 9.50 | 10.78 | 11.03 | 8.56 | 7.90 | 9.42 | 8.28 |
| EV / EBIT | 13.68 | 15.32 | 11.74 | 11.70 | 12.80 | 16.99 | 25.50 | 14.82 | 10.62 | 13.01 | 13.17 |
| EV / FCF | — | 28.04 | 22.08 | 28.05 | 40.74 | 20.79 | 17.70 | 15.43 | 16.15 | 19.73 | 23.15 |
EMN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Eastman Chemical Company earns an operating margin of 10.6%, roughly in line with the Basic Materials sector average. Operating margins have compressed from 11.9% to 10.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 8.0% is modest. ROIC of 6.7% represents adequate returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 21.1% | 21.1% | 24.4% | 22.4% | 19.5% | 24.0% | 23.7% | 24.3% | 24.0% | 26.1% | 27.4% |
| Operating Margin | 10.6% | 10.6% | 14.7% | 11.9% | 10.3% | 14.0% | 13.3% | 14.3% | 14.6% | 16.1% | 17.2% |
| Net Profit Margin | 5.4% | 5.4% | 9.6% | 9.7% | 7.5% | 8.2% | 5.6% | 8.2% | 10.7% | 15.5% | 9.7% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 8.0% | 8.0% | 15.9% | 16.6% | 14.4% | 14.4% | 7.9% | 12.7% | 18.9% | 28.9% | 20.0% |
| ROA | 3.2% | 3.2% | 6.1% | 6.1% | 5.3% | 5.4% | 3.0% | 4.7% | 6.8% | 9.4% | 5.6% |
| ROIC | 6.7% | 6.7% | 10.1% | 8.2% | 7.8% | 10.0% | 7.4% | 8.5% | 9.3% | 10.0% | 10.6% |
| ROCE | 7.5% | 7.5% | 11.2% | 9.3% | 9.0% | 11.0% | 8.0% | 9.3% | 10.5% | 11.0% | 11.3% |
EMN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Eastman Chemical Company carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (45% above the sector average of 2.4x). Net debt stands at $4.5B ($5.1B total debt minus $566M cash). Interest coverage of 3.7x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.84 | 0.84 | 0.90 | 0.93 | 0.98 | 0.95 | 0.92 | 0.96 | 1.05 | 1.17 | 1.43 |
| Debt / EBITDA | 3.52 | 3.52 | 2.79 | 3.22 | 3.30 | 2.75 | 3.31 | 2.99 | 2.97 | 3.10 | 3.11 |
| Net Debt / Equity | — | 0.75 | 0.76 | 0.83 | 0.89 | 0.87 | 0.83 | 0.92 | 1.01 | 1.14 | 1.39 |
| Net Debt / EBITDA | 3.12 | 3.12 | 2.35 | 2.88 | 2.98 | 2.52 | 2.97 | 2.89 | 2.86 | 3.01 | 3.02 |
| Debt / FCF | — | 10.64 | 6.43 | 8.41 | 12.80 | 4.86 | 4.77 | 5.20 | 5.85 | 6.30 | 8.45 |
| Interest Coverage | 3.73 | 3.73 | 5.99 | 5.82 | 6.16 | 6.64 | 3.59 | 5.05 | 6.48 | 6.26 | 5.17 |
EMN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.37x means Eastman Chemical Company can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 0.63x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.37 | 1.37 | 1.51 | 1.35 | 1.16 | 1.56 | 1.74 | 1.86 | 1.82 | 1.59 | 1.60 |
| Quick Ratio | 0.63 | 0.63 | 0.78 | 0.70 | 0.58 | 1.06 | 1.06 | 0.93 | 0.96 | 0.82 | 0.81 |
| Cash Ratio | 0.21 | 0.21 | 0.31 | 0.21 | 0.15 | 0.15 | 0.28 | 0.11 | 0.12 | 0.10 | 0.10 |
| Asset Turnover | — | 0.59 | 0.62 | 0.63 | 0.72 | 0.68 | 0.53 | 0.58 | 0.63 | 0.59 | 0.58 |
| Inventory Turnover | 3.49 | 3.49 | 3.57 | 4.24 | 4.48 | 5.30 | 4.68 | 4.21 | 4.86 | 4.66 | 4.62 |
| Days Sales Outstanding | — | 41.66 | 45.60 | 45.79 | 44.24 | 55.01 | 65.33 | 54.27 | 53.48 | 53.17 | 49.41 |
EMN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Eastman Chemical Company returns 5.8% to shareholders annually — split between a 4.6% dividend yield and 1.2% buyback yield. The payout ratio of 80.4% is elevated — while still covered by earnings, there is limited headroom for dividend increases. The earnings yield of 5.7% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 4.6% | 5.2% | 3.5% | 3.5% | 3.7% | 2.3% | 2.6% | 3.1% | 3.0% | 2.2% | 2.4% |
| Payout Ratio | 80.4% | 80.4% | 41.9% | 42.1% | 48.0% | 43.8% | 74.9% | 45.2% | 29.4% | 20.1% | 31.4% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.7% | 6.4% | 8.4% | 8.3% | 7.8% | 5.2% | 3.5% | 6.9% | 10.3% | 10.9% | 7.8% |
| FCF Yield | 5.2% | 5.7% | 6.4% | 5.1% | 3.6% | 6.3% | 7.7% | 9.8% | 9.7% | 7.4% | 6.8% |
| Buyback Yield | 1.2% | 1.4% | 2.8% | 1.4% | 9.9% | 6.0% | 0.4% | 3.0% | 3.8% | 2.6% | 1.3% |
| Total Shareholder Yield | 5.8% | 6.5% | 6.3% | 4.9% | 13.6% | 8.3% | 3.1% | 6.1% | 6.9% | 4.8% | 3.7% |
| Shares Outstanding | — | $116M | $118M | $119M | $125M | $137M | $137M | $139M | $143M | $146M | $148M |
Peer Comparison
Compare EMN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 EMNYou | $8B | 17.6 | 8.8 | 19.4 | 21.1% | 10.6% | 8.0% | 6.7% | 3.5 |
 LYB | $19B | -24.9 | 29.5 | 49.1 | 9.0% | -1.1% | -6.5% | -1.1% | 15.0 |
 CE | $6B | -4.7 | 11.4 | 6.9 | 18.8% | 8.0% | -23.1% | 3.4% | 8.6 |
 HUN | $2B | -7.2 | 17.4 | 17.3 | 13.2% | -0.7% | -9.0% | -0.6% | 11.0 |
 AVNT | $3B | 41.9 | 12.4 | 17.5 | 32.5% | 6.2% | 3.5% | 3.9% | 4.9 |
 ASH | $3B | -3.7 | — | — | 30.1% | -42.5% | -35.4% | -15.9% | — |
 FMC | $1B | -0.6 | — | — | 37.0% | -54.4% | -67.8% | -21.2% | — |
 DOW | $22B | -8.3 | 12.3 | — | 6.0% | 0.7% | -14.8% | 0.6% | 6.3 |
 DD | $20B | -25.9 | 14.7 | 18.3 | 30.3% | 12.6% | -4.1% | 2.8% | 2.1 |
 PPG | $27B | 17.2 | 11.8 | 22.9 | 38.0% | 13.7% | 92.2% | 23.5% | 2.8 |
 RPM | $14B | 20.1 | 14.9 | 25.6 | 41.4% | 12.3% | 25.5% | 13.3% | 2.7 |
| Basic Materials Median | — | 23.4 | 11.0 | 28.7 | 30.9% | 10.3% | -0.0% | 4.6% | 2.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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EMN — Frequently Asked Questions
Quick answers to the most common questions about buying EMN stock.
What is Eastman Chemical Company's P/E ratio?
Eastman Chemical Company's current P/E ratio is 17.6x. The historical average is 18.2x. This places it at the 75th percentile of its historical range.
What is Eastman Chemical Company's EV/EBITDA?
Eastman Chemical Company's current EV/EBITDA is 8.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
What is Eastman Chemical Company's ROE?
Eastman Chemical Company's return on equity (ROE) is 8.0%. The historical average is 16.1%.
Is EMN stock overvalued?
Based on historical data, Eastman Chemical Company is trading at a P/E of 17.6x. This is at the 75th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Eastman Chemical Company's dividend yield?
Eastman Chemical Company's current dividend yield is 4.58% with a payout ratio of 80.4%.
What are Eastman Chemical Company's profit margins?
Eastman Chemical Company has 21.1% gross margin and 10.6% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does Eastman Chemical Company have?
Eastman Chemical Company's Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.