Latest Ratios: P/E Ratio -11.9x · EV/EBITDA 10.9x · ROE -2.2%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $2.4B | $4.0B | $6.9B | $7.9B | $9.4B | $3.9B | $2.8B | $3.4B | $6.0B | $4.2B |
| Enterprise Value | $4.9B | $5.4B | $7.0B | $9.8B | $10.6B | $12.4B | $7.9B | $6.3B | $6.4B | $9.4B | $7.7B |
| P/E Ratio → | -11.88 | — | 37.14 | 15.11 | 5.92 | 7.23 | — | — | 10.31 | 10.91 | — |
| P/S Ratio | 0.29 | 0.35 | 0.62 | 1.02 | 0.84 | 1.05 | 0.67 | 0.46 | 0.49 | 0.96 | 0.76 |
| P/B Ratio | 1.06 | 1.28 | 1.97 | 3.06 | 3.09 | 3.54 | 2.67 | 1.16 | 1.20 | 2.18 | 1.86 |
| P/FCF | 8.91 | 9.63 | 13.11 | 9.41 | 4.67 | 6.09 | 28.92 | 12.08 | 6.48 | 16.91 | 13.01 |
| P/OCF | 4.16 | 5.03 | 8.03 | 7.13 | 4.09 | 5.39 | 8.96 | 4.54 | 3.73 | 9.24 | 7.01 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.79 | 1.07 | 1.43 | 1.13 | 1.39 | 1.38 | 1.03 | 0.93 | 1.50 | 1.38 |
| EV / EBITDA | 10.91 | 8.44 | 8.61 | 7.87 | 4.46 | 5.08 | — | 8.13 | 5.04 | 10.97 | 11.95 |
| EV / EBIT | 43.68 | 52.44 | 19.71 | 12.62 | 5.80 | 6.47 | — | 23.71 | 10.65 | 21.77 | 25.21 |
| EV / FCF | — | 21.62 | 22.76 | 13.28 | 6.30 | 8.02 | 59.05 | 27.20 | 12.32 | 26.48 | 23.57 |
Margins and return-on-capital ratios measuring operating efficiency
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 | 7.4% | 7.4% | 11.3% | 17.0% | 23.3% | 25.7% | 6.7% | 10.9% | 14.6% | 12.2% | 10.9% |
| Operating Margin | 1.7% | 1.7% | 4.5% | 10.4% | 19.0% | 20.8% | -13.0% | 2.9% | 9.7% | 4.7% | 1.9% |
| Net Profit Margin | -0.6% | -0.6% | 1.7% | 6.7% | 14.2% | 14.6% | -16.8% | -0.2% | 4.7% | 8.8% | -0.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.2% | -2.2% | 5.0% | 19.1% | 51.1% | 63.2% | -50.1% | -0.4% | 11.7% | 21.9% | -0.2% |
| ROA | -0.6% | -0.6% | 1.4% | 5.8% | 16.0% | 15.4% | -11.1% | -0.1% | 3.6% | 6.1% | -0.0% |
| ROIC | 1.7% | 1.7% | 4.4% | 10.3% | 24.4% | 25.0% | -9.8% | 2.3% | 8.4% | 3.8% | 1.4% |
| ROCE | 1.9% | 1.9% | 4.9% | 11.2% | 26.7% | 26.6% | -9.8% | 2.2% | 8.4% | 3.7% | 1.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.68 | 1.68 | 1.53 | 1.33 | 1.16 | 1.19 | 2.92 | 1.54 | 1.14 | 1.31 | 1.59 |
| Debt / EBITDA | 4.95 | 4.95 | 3.87 | 2.43 | 1.24 | 1.30 | — | 4.80 | 2.53 | 4.22 | 5.64 |
| Net Debt / Equity | — | 1.59 | 1.45 | 1.26 | 1.08 | 1.12 | 2.78 | 1.45 | 1.08 | 1.23 | 1.51 |
| Net Debt / EBITDA | 4.68 | 4.68 | 3.65 | 2.29 | 1.16 | 1.22 | — | 4.52 | 2.39 | 3.97 | 5.35 |
| Debt / FCF | — | 11.99 | 9.65 | 3.86 | 1.63 | 1.93 | 30.13 | 15.12 | 5.84 | 9.57 | 10.56 |
| Interest Coverage | 0.54 | 0.54 | 1.93 | 4.29 | 12.71 | 5.49 | -0.06 | 1.09 | 2.49 | 1.98 | 1.58 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.21 | 1.21 | 1.27 | 1.29 | 1.38 | 1.34 | 1.43 | 1.58 | 1.53 | 1.78 | 1.68 |
| Quick Ratio | 0.73 | 0.73 | 0.77 | 0.73 | 0.78 | 0.82 | 0.87 | 0.94 | 0.89 | 1.07 | 0.99 |
| Cash Ratio | 0.10 | 0.10 | 0.11 | 0.11 | 0.12 | 0.11 | 0.16 | 0.20 | 0.16 | 0.23 | 0.20 |
| Asset Turnover | — | 0.93 | 0.86 | 0.89 | 1.17 | 1.05 | 0.70 | 0.67 | 0.77 | 0.68 | 0.63 |
| Inventory Turnover | 8.00 | 8.00 | 7.05 | 6.61 | 7.64 | 7.62 | 7.97 | 7.83 | 8.34 | 8.06 | 7.84 |
| Days Sales Outstanding | — | 49.04 | 56.89 | 47.54 | 37.67 | 45.34 | 49.82 | 46.26 | 41.10 | 43.68 | 46.06 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
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% | 3.8% | 2.3% | 1.5% | 1.5% | 1.4% | 3.3% | 4.6% | 3.9% | 2.2% | 3.1% |
| Payout Ratio | — | — | 86.7% | 21.9% | 8.8% | 9.9% | — | — | 40.7% | 24.2% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 2.7% | 6.6% | 16.9% | 13.8% | — | — | 9.7% | 9.2% | — |
| FCF Yield | 11.2% | 10.4% | 7.6% | 10.6% | 21.4% | 16.4% | 3.5% | 8.3% | 15.4% | 5.9% | 7.7% |
| Buyback Yield | 2.6% | 2.1% | 7.4% | 10.2% | 17.2% | 2.7% | 0.0% | 5.2% | 1.5% | 0.0% | 0.0% |
| Total Shareholder Yield | 7.2% | 6.0% | 9.8% | 11.7% | 18.7% | 4.0% | 3.3% | 9.8% | 5.4% | 2.2% | 3.1% |
| Shares Outstanding | — | $115M | $120M | $129M | $149M | $163M | $158M | $162M | $168M | $169M | $165M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying OLN stock.
Olin Corporation's current P/E ratio is -11.9x. The historical average is 14.6x.
Olin Corporation's current EV/EBITDA is 10.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 7.9x.
Olin Corporation's return on equity (ROE) is -2.2%. The historical average is 12.7%.
Based on historical data, Olin Corporation is trading at a P/E of -11.9x. Compare with industry peers and growth rates for a complete picture.
Olin Corporation's current dividend yield is 4.62%.
Olin Corporation has 7.4% gross margin and 1.7% operating margin.
Olin Corporation's Debt/EBITDA ratio is 4.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.
Key Metrics
Top Statement Risk
Leverage without equity cushion
Metrics are mathematically derived from official filings.
Negative Earnings Distort Trailing Multiples
Based on reported figures, Olin trades at 7.79x EV/EBITDA and 7.96x price-to-free-cash-flow, a range that sits modestly above the peer cluster despite a trailing P/E of -46.78 that offers no usable earnings signal.
The negative trailing P/E reflects near-breakeven net income recently rather than a meaningful valuation read, so EV/EBITDA and price-to-FCF are the more informative anchors. Against peers such as EMN at 8.22x EV/EBITDA, Olin's multiple appears roughly in line, which suggests the market is not paying a premium for its cyclical cash generation. Investors should monitor whether the 4.6% dividend yield is supported by cash flow, given how volatile quarterly free cash flow has been.
Margin Recovery Remains Cyclically Fragile
As reported in the income statement, Olin's operating margin recovered to 3.4% in 2026Q3 from a negative 3.8% trough in 2025Q4, yet remains well below the 8.3% peak seen in 2024Q2.
The swing between peak and trough margins indicates heavy exposure to external pricing rather than a stable structural earnings base. Net margin of 0.8% in the latest quarter, compared with peers such as EMN at 5.4%, suggests Olin is still earning thin returns on its revenue base. The recent improvement may reflect a temporary price recovery and warrants further investigation before being treated as durable.
Returns Hover Near Cost of Capital
Based on the reported ratio series, Olin's ROIC has moved within a narrow band of roughly -0.9% to 2.0%, and its latest reading of 0.9% trails peer EMN's 6.7%, implying limited value creation.
Returns on invested capital in the low single digits suggest the asset base, which includes roughly $1.4B of goodwill and a substantial PP&E base, is not generating returns clearly above its financing cost. ROE of 0.8% in 2026Q3 is similarly thin, and the equity base has been shrinking, which can inflate leverage-driven ratios. The pattern appears to be one of decaying rather than compounding returns, though the quarterly data is too noisy to confirm a durable trend.
Debt Burden Rising Against Shrinking Equity
According to reported figures, Olin's debt-to-equity ratio climbed from 1.49 in 2024Q2 to 1.98 in 2026Q3, while interest coverage has been unstable, ranging from 0.62x to 3.20x.
The rising D/E ratio reflects an equity base that has eroded faster than debt, which may limit flexibility if earnings soften again. Interest coverage repeatedly dipping below 1.5x in several quarters suggests that debt service has at times relied on cash flow timing rather than steady operating earnings. Refinancing risk and covenant headroom cannot be assessed from the supplied data, so investors should monitor these areas closely.
Thin Cash Buffer Against Heavy Debt
Based on reported balance sheet figures, Olin's current ratio of 1.45 in 2026Q3 appears adequate on paper, but cash of roughly $215M against about $3.4B of total debt leaves a narrow cushion for a downturn.
The current ratio is supported mainly by receivables and inventory rather than cash, and the quick ratio of 0.88 indicates reliance on inventory conversion to meet short-term obligations. Under a severe demand or pricing shock, working capital could reverse quickly, as the cash flow history already shows. The position suggests limited capacity to absorb stress without external financing, a conclusion that should be treated as analytical inference rather than proven fact.
Cyclical Recovery May Not Hold
Based on reported figures, the 2026Q3 margin rebound follows several loss quarters, and the metric most commonly misapplied to Olin is trailing P/E, which is distorted by near-zero and negative earnings.
Chemicals producers like Olin are commodity-linked, so a single strong quarter can reflect temporary pricing or working capital timing rather than structural improvement. Applying trailing P/E here obscures the earnings base entirely, and EV/EBITDA on normalized through-cycle EBITDA or price-to-cash-flow averaged over a full cycle would be more appropriate. Investors should treat the recent recovery as provisional until several consecutive quarters confirm sustained margin and cash conversion.