Element Solutions Inc ESI
Element Solutions, incorporated in Delaware in January 2014, is a leading global specialty chemicals technology company whose businesses supply a broad range of solutions that enhance the performance of products people use every day. Developed in multi-step technological processes, these innovative solutions enable customers' manufacturing processes in multiple high-value industries, including consumer electronics, power electronics, semiconductor fabrication, high-performance computing, communications and data storage infrastructure, automotive systems, industrial surface finishing and offshore energy. Our product innovation and product extensions are expected to continue to drive sales growth in both new and existing markets while expanding margins through a consistent focus on increasing customer value propositions.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.55B | $2.46B | $2.33B | $2.55B | $2.40B | $1.85B | $1.84B | $1.96B | $1.88B | $1.77B |
| Cost of revenue | $1.48B | $1.42B | $1.41B | $1.60B | $1.44B | $1.07B | $1.05B | $1.12B | $1.06B | $992.8M |
| Gross profit | $1.07B | $1.04B | $918.5M | $952.7M | $960.8M | $786.0M | $788.3M | $837.6M | $813.8M | $777.3M |
| R&D | $67.6M | $63.0M | $68.1M | $48.8M | $49.7M | $48.6M | $42.2M | $44.3M | $46.4M | $45.0M |
| SG&A | $660.7M | $628.8M | $596.8M | $578.6M | $611.2M | $504.7M | $497.0M | $544.8M | $567.2M | $596.3M |
| Total operating expenses | $728.3M | $691.8M | $744.9M | $627.4M | $660.9M | $553.3M | $539.2M | $589.1M | $613.6M | $687.9M |
| Operating income | $342.2M | $343.9M | $173.6M | $325.3M | $299.9M | $232.7M | $249.1M | $248.5M | $200.2M | $89.4M |
| Interest expense | $53.4M | $56.3M | $49.3M | $51.2M | $54.2M | $63.4M | $90.7M | $311.0M | $336.9M | $372.3M |
| Pre-tax income | $265.6M | $287.7M | $129.1M | $272.0M | $251.7M | $81.1M | $140.9M | -$53.2M | -$260.4M | -$231.8M |
| Income tax | $74.6M | $44.8M | $13.0M | $85.8M | $48.3M | $4.3M | $61.3M | $23.8M | $68.6M | $41.3M |
| Net income | $190.8M | $244.2M | $118.1M | $187.2M | $203.7M | $75.7M | $92.9M | -$319.9M | -$295.6M | -$73.7M |
| EPS, basic | 0.79 | 1.01 | 0.49 | 0.76 | 0.82 | 0.30 | 0.36 | -1.13 | -1.04 | -0.17 |
| EPS, diluted | 0.79 | 1.01 | 0.49 | 0.76 | 0.82 | 0.30 | 0.35 | -1.13 | -1.04 | -0.65 |
| Shares, diluted (wtd. avg.) | $242.4M | $242.6M | $241.8M | $245.8M | $247.9M | $249.9M | $260.1M | $288.2M | $286.1M | $272.3M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $626.5M | $359.4M | $289.3M | $265.6M | $330.1M | $291.9M | $190.1M | $233.6M | $258.4M | $422.6M |
| Receivables | $517.7M | $439.6M | $461.8M | $455.8M | $492.2M | $403.4M | $363.9M | $382.4M | $399.8M | $1.05B |
| Inventory | $294.7M | $246.2M | $298.9M | $290.7M | $274.4M | $203.1M | $199.6M | $188.1M | $186.4M | $416.4M |
| Total current assets | $1.58B | $1.27B | $1.20B | $1.19B | $1.21B | $989.9M | $833.4M | $2.48B | $2.34B | $2.07B |
| Property, plant and equipment | $319.6M | $276.8M | $296.9M | $277.2M | $278.1M | $240.4M | $264.8M | $266.9M | $287.4M | $460.5M |
| Goodwill | $2.24B | $2.13B | $2.34B | $2.41B | $2.53B | $2.25B | $2.18B | $2.18B | $2.25B | $2.13B |
| Other intangibles | $657.2M | $732.0M | $879.3M | $805.5M | $956.7M | $855.9M | $944.4M | $1.02B | $1.16B | $3.23B |
| Total assets | $5.10B | $4.87B | $4.97B | $4.90B | $5.14B | $4.48B | $4.32B | $9.40B | $10.25B | $10.05B |
| Accounts payable | $165.5M | $121.3M | $140.6M | $132.2M | $138.4M | $95.6M | $96.8M | $100.9M | $111.2M | $383.6M |
| Short-term debt | — | — | — | — | — | — | — | — | — | $116.1M |
| Total current liabilities | $429.9M | $379.7M | $369.4M | $344.4M | $415.2M | $314.3M | $293.8M | $1.14B | $1.09B | $1.08B |
| Long-term debt | $1.64B | $1.84B | $1.95B | $1.91B | $1.93B | $1.54B | $1.54B | $5.40B | $5.51B | $5.24B |
| Total liabilities | $2.41B | $2.48B | $2.63B | $2.55B | $2.64B | $2.17B | $2.11B | $7.22B | $7.39B | $7.16B |
| Retained earnings | -$904.6M | -$1.02B | -$1.18B | -$1.22B | -$1.33B | -$1.47B | -$1.54B | -$1.20B | -$869.7M | -$573.5M |
| Total equity | $2.67B | $2.38B | $2.34B | $2.35B | $2.50B | $2.32B | $2.22B | $2.18B | $2.86B | $2.89B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $289.8M | $362.0M | $333.6M | $295.9M | $326.0M | $276.0M | $170.9M | -$800.0K | -$34.3M | -$38.0M |
| Depreciation and amortisation | $151.2M | $157.6M | $166.7M | $161.3M | $163.9M | $161.4M | $154.7M | $156.7M | $156.0M | $155.7M |
| Stock-based compensation | $59.1M | $14.8M | $9.4M | $17.7M | $40.1M | $6.0M | $11.8M | $15.4M | — | — |
| Capital expenditure | $62.2M | $68.4M | $52.7M | $47.8M | $46.3M | $28.8M | $29.7M | $28.4M | $30.8M | $32.6M |
| Investing cash flow | $286.1M | -$73.8M | -$250.2M | -$75.2M | -$568.9M | -$39.9M | $4.20B | -$23.8M | -$18.9M | -$26.1M |
| Financing cash flow | -$320.4M | -$206.6M | -$58.7M | -$275.6M | $290.0M | -$123.6M | -$4.44B | -$1.4M | -$1.7M | -$130.5M |
| Dividends paid | $77.8M | $78.2M | $77.4M | $78.4M | $61.9M | $12.4M | $0 | $0 | — | — |
| Buybacks | $25.0M | $0 | $0 | $151.0M | $19.6M | $55.7M | $507.1M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001590714-26-000018.
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