Latest Ratios: P/E Ratio -23.2x · EV/EBITDA 28.3x · ROE -6.5%. (2008–2025 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 | $17.6B | $13.9B | $24.2B | $31.0B | $27.2B | $30.8B | $30.6B | $33.4B | $32.3B | $44.0B | $36.0B |
| Enterprise Value | $30.1B | $26.5B | $33.8B | $40.6B | $38.3B | $42.9B | $46.3B | $46.0B | $41.4B | $51.1B | $44.1B |
| P/E Ratio → | -23.24 | — | 17.90 | 14.72 | 7.04 | 5.51 | 21.62 | 9.85 | 6.90 | 9.02 | 9.40 |
| P/S Ratio | 0.58 | 0.46 | 0.60 | 0.75 | 0.54 | 0.67 | 1.10 | 0.96 | 0.83 | 1.28 | 1.23 |
| P/B Ratio | 1.72 | 1.37 | 1.92 | 2.37 | 2.14 | 2.57 | 3.78 | 4.08 | 3.11 | 4.92 | 5.93 |
| P/FCF | 45.81 | 36.31 | 12.23 | 9.09 | 6.44 | 5.37 | 21.01 | 14.71 | 9.61 | 12.03 | 10.71 |
| P/OCF | 7.78 | 6.16 | 6.34 | 6.27 | 4.45 | 4.00 | 8.99 | 6.72 | 5.91 | 8.46 | 6.43 |
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 | — | 0.88 | 0.84 | 0.99 | 0.76 | 0.93 | 1.67 | 1.33 | 1.06 | 1.48 | 1.51 |
| EV / EBITDA | 28.32 | 24.89 | 10.11 | 8.85 | 6.01 | 5.26 | 15.74 | 8.48 | 6.40 | 7.70 | 7.21 |
| EV / EBIT | — | — | 16.20 | 13.08 | 7.56 | 5.88 | 24.24 | 10.47 | 7.30 | 8.54 | 7.94 |
| EV / FCF | — | 68.89 | 17.05 | 11.90 | 9.05 | 7.48 | 31.81 | 20.31 | 12.30 | 13.97 | 13.12 |
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 | 9.0% | 9.0% | 11.3% | 12.8% | 13.1% | 19.0% | 12.2% | 15.6% | 16.6% | 18.6% | 20.5% |
| Operating Margin | -1.1% | -1.1% | 4.5% | 7.4% | 10.1% | 14.7% | 5.6% | 11.9% | 13.4% | 15.8% | 17.3% |
| Net Profit Margin | -2.5% | -2.5% | 3.4% | 5.1% | 7.7% | 12.2% | 5.1% | 9.8% | 12.0% | 14.1% | 13.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -6.5% | -6.5% | 10.6% | 16.4% | 31.4% | 55.8% | 17.4% | 36.5% | 48.5% | 65.0% | 60.7% |
| ROA | -2.1% | -2.1% | 3.7% | 5.8% | 10.6% | 15.6% | 4.3% | 11.5% | 17.2% | 19.7% | 16.6% |
| ROIC | -1.1% | -1.1% | 6.1% | 9.9% | 16.0% | 21.2% | 5.2% | 15.3% | 22.1% | 27.1% | 27.2% |
| ROCE | -1.1% | -1.1% | 6.2% | 10.3% | 17.3% | 22.8% | 5.7% | 17.1% | 23.7% | 27.1% | 27.1% |
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 | 1.56 | 1.56 | 1.03 | 1.00 | 1.03 | 1.13 | 2.16 | 1.66 | 0.90 | 0.96 | 1.48 |
| Debt / EBITDA | 15.02 | 15.02 | 3.87 | 2.83 | 2.07 | 1.67 | 5.94 | 2.50 | 1.45 | 1.30 | 1.47 |
| Net Debt / Equity | — | 1.23 | 0.76 | 0.74 | 0.87 | 1.01 | 1.94 | 1.55 | 0.87 | 0.79 | 1.33 |
| Net Debt / EBITDA | 11.77 | 11.77 | 2.86 | 2.10 | 1.73 | 1.49 | 5.34 | 2.34 | 1.40 | 1.07 | 1.32 |
| Debt / FCF | — | 32.59 | 4.82 | 2.82 | 2.61 | 2.11 | 10.79 | 5.60 | 2.69 | 1.94 | 2.41 |
| Interest Coverage | -0.40 | -0.40 | 4.33 | 6.51 | 17.64 | 14.08 | 3.63 | 12.68 | 15.75 | 12.19 | 17.25 |
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 | 1.77 | 1.77 | 1.83 | 1.84 | 1.75 | 1.69 | 2.11 | 1.83 | 1.92 | 2.46 | 2.11 |
| Quick Ratio | 1.19 | 1.19 | 1.13 | 1.17 | 1.04 | 1.01 | 1.32 | 0.95 | 1.10 | 1.57 | 1.28 |
| Cash Ratio | 0.56 | 0.56 | 0.50 | 0.47 | 0.32 | 0.20 | 0.45 | 0.20 | 0.22 | 0.59 | 0.45 |
| Asset Turnover | — | 0.89 | 1.13 | 1.11 | 1.39 | 1.26 | 0.78 | 1.14 | 1.38 | 1.32 | 1.24 |
| Inventory Turnover | 7.61 | 7.61 | 7.67 | 7.52 | 9.13 | 7.63 | 5.61 | 6.39 | 7.20 | 6.65 | 6.09 |
| Days Sales Outstanding | — | 34.06 | 32.15 | 35.42 | 29.52 | 41.20 | 59.04 | 36.31 | 41.49 | 45.75 | 42.49 |
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 | 10.0% | 12.7% | 7.1% | 5.2% | 11.9% | 4.8% | 4.6% | 4.4% | 4.8% | 3.2% | 3.9% |
| Payout Ratio | — | — | 126.5% | 76.2% | 83.6% | 26.5% | 98.9% | 43.1% | 33.1% | 29.0% | 36.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 5.6% | 6.8% | 14.2% | 18.2% | 4.6% | 10.2% | 14.5% | 11.1% | 10.6% |
| FCF Yield | 2.2% | 2.8% | 8.2% | 11.0% | 15.5% | 18.6% | 4.8% | 6.8% | 10.4% | 8.3% | 9.3% |
| Buyback Yield | 1.1% | 1.4% | 0.8% | 0.7% | 1.5% | 1.5% | 0.0% | 11.2% | 5.7% | 2.0% | 8.2% |
| Total Shareholder Yield | 11.2% | 14.1% | 7.9% | 5.9% | 13.5% | 6.3% | 4.6% | 15.6% | 10.5% | 5.2% | 12.0% |
| Shares Outstanding | — | $322M | $326M | $326M | $328M | $334M | $334M | $353M | $389M | $399M | $420M |
Cyclical margin compression
According to recent market data, LYB trades at a forward P/E of 5.85, which suggests that investors are pricing in a significant earnings recovery rather than relying on the current negative trailing P/E of -23.71, as reported in the latest financial statements.
The wide disparity between trailing and forward multiples indicates that the market is looking past current operational losses toward a normalized mid-cycle environment. However, the high P/FCF of 46.76 warrants caution, as it implies that the current cash-generating capacity is insufficient to support the company's valuation without a substantial rebound in commodity spreads.
Based on reported figures, ROIC has deteriorated from 3.2% in 2024Q2 to -0.1% by 2025Q4, signaling that the company is currently failing to generate returns that exceed its cost of capital during this period of intense industrial and pricing weakness.
The collapse in ROIC reflects the combined impact of margin compression in the O&P segments and the drag from underperforming assets. Investors should monitor whether the planned exit from refining and the pivot toward circular solutions can restore capital efficiency, or if these transitions will further dilute returns in the near term.
As reported in quarterly filings, the cash conversion cycle has remained volatile, fluctuating between 50 and 60 days over the last ten quarters, which suggests that management is struggling to optimize inventory and receivables in a highly unpredictable global demand environment.
The inconsistency in the CCC indicates that the company is highly reactive to market conditions, often forced to carry excess inventory during downturns. This lack of efficiency in working capital management exacerbates the cash flow strain, making the company's liquidity position more sensitive to sudden shifts in commodity pricing.
According to recent financial statements, the debt-to-equity ratio has climbed to 1.56, a notable increase from the 0.91 observed in 2024Q3, which indicates that the company is increasingly relying on external debt to fund operations and maintain its dividend policy.
The deterioration in interest coverage, which turned negative in recent quarters, suggests that the company's ability to service its debt from core operating income is currently compromised. This trend warrants further investigation, as sustained reliance on debt during a cyclical trough may limit the company's strategic flexibility for future capital investments.
Investors frequently misapply the 9.8% dividend yield as a signal of financial strength, yet as reported in recent filings, this payout is currently disconnected from negative net income and deteriorating free cash flow, suggesting it may be an unsustainable drain on the balance sheet.
The dividend yield is often used by income-oriented investors to justify a position, but it obscures the reality that the company is effectively paying out capital it is not currently earning. A more appropriate metric for assessing the sustainability of these returns would be the payout ratio relative to normalized mid-cycle free cash flow rather than current depressed earnings.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying LYB stock.
LyondellBasell Industries N.V.'s current P/E ratio is -23.2x. The historical average is 10.3x.
LyondellBasell Industries N.V.'s current EV/EBITDA is 28.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 8.6x.
LyondellBasell Industries N.V.'s return on equity (ROE) is -6.5%. The historical average is 34.2%.
Based on historical data, LyondellBasell Industries N.V. is trading at a P/E of -23.2x. Compare with industry peers and growth rates for a complete picture.
LyondellBasell Industries N.V.'s current dividend yield is 10.03%.
LyondellBasell Industries N.V. has 9.0% gross margin and -1.1% operating margin.
LyondellBasell Industries N.V.'s Debt/EBITDA ratio is 15.0x, indicating high leverage. A ratio above 4x may signal elevated financial risk.