Latest Ratios: P/E Ratio 16.8x · EV/EBITDA 8.6x · ROE 8.0%. (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 | $7.9B | $7.4B | $10.8B | $10.7B | $10.2B | $16.6B | $13.7B | $11.0B | $10.4B | $13.5B | $11.2B |
| Enterprise Value | $12.4B | $11.9B | $15.2B | $15.3B | $14.8B | $21.6B | $18.7B | $16.6B | $16.4B | $19.9B | $17.6B |
| P/E Ratio → | 16.80 | 15.57 | 11.91 | 11.99 | 12.83 | 19.35 | 28.65 | 14.46 | 9.67 | 9.18 | 12.88 |
| P/S Ratio | 0.90 | 0.84 | 1.15 | 1.17 | 0.97 | 1.58 | 1.62 | 1.19 | 1.03 | 1.42 | 1.25 |
| P/B Ratio | 1.32 | 1.22 | 1.84 | 1.94 | 1.94 | 2.86 | 2.24 | 1.82 | 1.78 | 2.43 | 2.42 |
| P/FCF | 18.58 | 17.40 | 15.65 | 19.64 | 27.94 | 15.92 | 12.93 | 10.23 | 10.29 | 13.43 | 14.71 |
| P/OCF | 8.12 | 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
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 | — | 1.36 | 1.62 | 1.66 | 1.41 | 2.06 | 2.21 | 1.79 | 1.62 | 2.09 | 1.96 |
| EV / EBITDA | 8.58 | 8.23 | 8.06 | 9.61 | 9.50 | 10.78 | 11.03 | 8.56 | 7.90 | 9.42 | 8.28 |
| EV / EBIT | 13.31 | 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 |
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 | 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% |
| 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% |
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 | 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 |
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 | 1.37 | 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 |
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 | 4.8% | 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% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 6.4% | 8.4% | 8.3% | 7.8% | 5.2% | 3.5% | 6.9% | 10.3% | 10.9% | 7.8% |
| FCF Yield | 5.4% | 5.7% | 6.4% | 5.1% | 3.6% | 6.3% | 7.7% | 9.8% | 9.7% | 7.4% | 6.8% |
| Buyback Yield | 1.3% | 1.4% | 2.8% | 1.4% | 9.9% | 6.0% | 0.4% | 3.0% | 3.8% | 2.6% | 1.3% |
| Total Shareholder Yield | 6.1% | 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 |
Cyclical volume and margin compression
According to current market data, EMN trades at a forward P/E of 11.07, which, when compared to its TTM P/E of 17.25, suggests that investors are pricing in a recovery in earnings that may be contingent on the successful scaling of its circular economy initiatives.
The current P/S ratio of 0.92 indicates that the market is valuing the company closer to a commodity-linked producer than a high-margin specialty chemical firm. This valuation gap warrants further investigation into whether the market is correctly discounting the long-term potential of the Tritan brand against the cyclical headwinds currently impacting the broader chemical sector.
Based on reported financial statements, EMN's ROIC has trended downward to 1.8% in 2026Q1, a significant contraction from historical levels that highlights the difficulty of generating adequate returns on invested capital during periods of high capital expenditure and softening demand for specialty polymers.
The decline in ROIC appears to be driven by both margin compression and the heavy capital intensity required for the company's molecular recycling facilities. Investors should monitor whether these returns can rebound as the Kingsport facility moves from the construction phase into full-scale revenue generation.
As indicated by quarterly data, the company's DIO has remained elevated at 105 days in 2026Q1, which, when compared to historical averages, suggests that inventory management remains a significant challenge in the current environment of persistent revenue contraction and shifting demand for specialty materials.
The fluctuation in the cash conversion cycle reflects the company's struggle to align production volumes with volatile end-market demand. This inefficiency in working capital management may continue to weigh on free cash flow until the company can better synchronize its supply chain with the cyclical nature of its core segments.
Based on EMN's reported figures, the current ratio of 1.47 in 2026Q1 provides a stable liquidity cushion, which appears sufficient to navigate the current period of revenue volatility and the ongoing financial requirements of its large-scale capital projects in the circular economy space.
While the quick ratio of 0.71 suggests a reliance on inventory to meet short-term obligations, the company's overall liquidity position remains healthy relative to its peers. This buffer is critical for maintaining operational continuity during planned maintenance turnarounds and periods of raw material price volatility.
The reported debt-to-equity ratio of 0.84% is frequently misapplied by analysts as a sign of extreme balance sheet strength, yet this figure likely obscures the true leverage profile of a capital-intensive industrial firm when legacy pension and post-retirement obligations are excluded from the calculation.
Investors should instead focus on net debt-to-EBITDA or interest coverage ratios to gain a more accurate picture of the company's financial flexibility. Relying solely on the D/E ratio may lead to an underestimation of the risks associated with the company's significant long-term liabilities and capital-intensive growth strategy.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying EMN stock.
Eastman Chemical Company's current P/E ratio is 16.8x. The historical average is 18.2x. This places it at the 71th percentile of its historical range.
Eastman Chemical Company's current EV/EBITDA is 8.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 9.6x.
Eastman Chemical Company's return on equity (ROE) is 8.0%. The historical average is 16.1%.
Based on historical data, Eastman Chemical Company is trading at a P/E of 16.8x. This is at the 71th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Eastman Chemical Company's current dividend yield is 4.78% with a payout ratio of 80.4%.
Eastman Chemical Company has 21.1% gross margin and 10.6% operating margin. Operating margin between 10-20% is typical for established companies.
Eastman Chemical Company's Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.