Huntsman CORP HUN
We are a global manufacturer of diversified organic chemical products. We operate in three segments: Polyurethanes, Performance Products and Advanced Materials. Our products comprise many different chemicals and chemical formulations, which we market globally to a wide range of consumers that consist primarily of industrial and building product manufacturers. Our products are used in a broad range of applications, including those in the adhesives, aerospace, automotive, coatings and construction, construction products, durable and non-durable consumer products, electronics, insulation, power generation and refining. Many of our products offer effects such as premium insulation in homes and buildings and the lightweighting of airplanes and automobiles that help conserve energy. We are a leading global producer in many of our key product lines, including MDI, amines, maleic anhydride and epoxy-based polymer formulations. Our revenues for the years ended December 31, 2025, 2024 and 2023 were $5,683 million, $6,036 million and $6,111 million, respectively.
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 | $5.68B | $6.04B | $6.11B | $8.02B | $7.67B | $5.42B | $6.80B | $7.60B | $6.84B | $7.52B |
| Cost of revenue | $4.93B | $5.17B | $5.21B | $6.48B | $6.09B | $4.44B | $5.42B | $5.84B | $5.19B | $6.00B |
| Gross profit | $751.0M | $866.0M | $906.0M | $1.55B | $1.58B | $977.0M | $1.38B | $1.76B | $1.65B | $1.52B |
| R&D | $120.0M | $121.0M | $115.0M | $125.0M | $135.0M | $121.0M | $137.0M | $145.0M | $132.0M | $137.0M |
| SG&A | $670.0M | $671.0M | $689.0M | $711.0M | $739.0M | $670.0M | $786.0M | $789.0M | $759.0M | $772.0M |
| Total operating expenses | $882.0M | $891.0M | $822.0M | $874.0M | $853.0M | $545.0M | $913.0M | $937.0M | $922.0M | $855.0M |
| Operating income | -$131.0M | -$25.0M | $84.0M | $672.0M | $731.0M | $432.0M | $469.0M | $827.0M | $729.0M | $663.0M |
| Interest expense | — | — | — | — | — | — | — | — | — | $202.0M |
| Pre-tax income | -$192.0M | -$39.0M | $99.0M | $697.0M | $1.25B | $331.0M | $391.0M | $734.0M | $531.0M | $474.0M |
| Income tax | $26.0M | $61.0M | $64.0M | $186.0M | $191.0M | $42.0M | $38.0M | $45.0M | $20.0M | $109.0M |
| Net income | -$284.0M | -$189.0M | $101.0M | $460.0M | $1.04B | $1.03B | $562.0M | $337.0M | $636.0M | $326.0M |
| EPS, basic | -1.65 | -1.10 | 0.57 | 2.29 | 4.77 | 4.69 | 2.46 | 1.42 | 2.67 | 1.38 |
| EPS, diluted | -1.65 | -1.10 | 0.57 | 2.27 | 4.72 | 4.66 | 2.44 | 1.39 | 2.61 | 1.36 |
| Shares, diluted (wtd. avg.) | $172.6M | $172.1M | $177.4M | $203.0M | $221.4M | $221.9M | $230.6M | $241.6M | $243.9M | $239.6M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $429.0M | $340.0M | $540.0M | $654.0M | $1.04B | $1.59B | $525.0M | $340.0M | $481.0M | $396.0M |
| Inventory | $818.0M | $917.0M | $867.0M | $995.0M | $1.04B | $848.0M | $914.0M | $1.00B | $1.07B | $918.0M |
| Total current assets | $2.06B | $2.12B | $2.31B | $3.15B | $3.93B | $3.57B | $3.75B | $2.96B | $5.98B | $3.56B |
| Property, plant and equipment | $2.49B | $2.49B | $2.38B | $2.38B | $2.44B | $2.50B | $2.38B | $2.35B | $3.10B | $3.03B |
| Goodwill | $630.0M | $633.0M | $644.0M | $641.0M | $650.0M | $533.0M | $276.0M | $275.0M | $140.0M | $121.0M |
| Other intangibles | $308.0M | $344.0M | $387.0M | $425.0M | $469.0M | $453.0M | $197.0M | $213.0M | $56.0M | $43.0M |
| Total assets | $7.01B | $7.11B | $7.25B | $8.22B | $9.39B | $8.71B | $8.32B | $7.95B | $10.24B | $9.19B |
| Accounts payable | — | — | — | $907.0M | $1.05B | $842.0M | $765.0M | $761.0M | $946.0M | $774.0M |
| Short-term debt | $353.0M | $325.0M | $12.0M | $66.0M | $12.0M | $593.0M | $212.0M | $96.0M | $40.0M | $50.0M |
| Total current liabilities | $1.59B | $1.56B | $1.17B | $1.70B | $2.05B | $1.98B | $2.01B | $1.61B | $3.27B | $1.78B |
| Long-term debt | $1.66B | $1.51B | $1.68B | $1.67B | $1.54B | $1.53B | $2.18B | $2.22B | $2.26B | $4.12B |
| Total liabilities | $4.06B | $3.95B | $3.77B | $4.38B | $4.83B | $5.04B | $5.50B | $5.20B | $6.87B | $7.72B |
| Retained earnings | $1.81B | $2.25B | $2.62B | $2.71B | $2.44B | $1.56B | $690.0M | $292.0M | $161.0M | -$325.0M |
| Total equity | $2.75B | $2.96B | $3.48B | $3.84B | $4.56B | $3.67B | $2.82B | $2.75B | $3.37B | $1.47B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $289.0M | $263.0M | $209.0M | $914.0M | $952.0M | $253.0M | $897.0M | $1.21B | $1.22B | $1.09B |
| Depreciation and amortisation | $287.0M | $289.0M | $278.0M | $281.0M | $278.0M | $267.0M | $270.0M | $255.0M | $236.0M | $318.0M |
| Stock-based compensation | $31.0M | $30.0M | $28.0M | $29.0M | $30.0M | $26.0M | $29.0M | $27.0M | $36.0M | $32.0M |
| Capital expenditure | $173.0M | $184.0M | $230.0M | $272.0M | $326.0M | $237.0M | $274.0M | $251.0M | $234.0M | $318.0M |
| Investing cash flow | -$132.0M | -$126.0M | $305.0M | -$279.0M | -$524.0M | $1.46B | -$260.0M | -$973.0M | -$424.0M | -$203.0M |
| Financing cash flow | -$76.0M | -$326.0M | -$620.0M | -$994.0M | -$977.0M | -$655.0M | -$450.0M | -$424.0M | -$519.0M | -$723.0M |
| Dividends paid | $146.0M | $174.0M | $169.0M | $171.0M | $159.0M | $144.0M | $150.0M | $156.0M | $120.0M | $120.0M |
| Buybacks | $0 | $4.0M | $349.0M | $1.00B | $200.0M | $96.0M | $208.0M | $277.0M | — | — |
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 0001437749-26-004524.
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