undamentalytics Newsletter

Graftech International LTD (EAF) stock

Add holding +

NYSE: EAF NYSE Specialty Chemicals Next results ~February 5, 2027

E Fundamentals grade

Graftech International LTD is a US-listed company in the specialty chemicals industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

Not valued: the figures our models need are missing or failed our data-quality checks.

Price vs value

No model value. How we value companies.

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Funds49 adding, 39 cuttingOf 22 active managers that changed their stake, 10 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Graftech International files

Where Graftech International LTD stands after its latest 10-Q

Revenue for the twelve months to September 2026 was $509m, down 2.5% on a year earlier, against growth of 0.9% a quarter earlier. That puts it 28 of 30 for growth among the specialty chemicals companies we cover. Free-cash-flow margin fell to -31.1% from -23.1% a year earlier. Operating margin narrowed to -21.0% from -12.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades E. It passes 1 of our 4 financial-health checks.

Our models give no value for Graftech International at present, so past values are not shown.

Source: 10-Q filed October 23, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~February 5, 2027 (estimated)

Graftech International LTD's trailing-twelve-month revenue fell 2.5% year on year, with a free-cash-flow margin of -31.1%. Where it lags: long-term debt as % of assets of 117.4% ranks 36 of 36 specialty chemicals companies we cover.

Our discounted-cash-flow model values the business at ~$2.6 per share in the base case (—–$16 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 31.3% while net income grew 4.2%: a 35pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Strengths

  • Shrinking share count. Diluted shares fell 1.3% in a year, so each share owns more of the business.

Things to watch

  • Priced above our value. The share price of $11.33 is 77% above our value per share of $3.
  • Revenue shrinking. Revenue fell 2.5% over the last 12 months.
  • Loss-making. Operating margin is -21.0%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 9.0 points on a year ago.
  • Burning cash. Free cash flow was -31.1% of revenue over the last 12 months.
  • High debt. Long-term debt exceeds cash by $1.1bn, more than 1.5 times annual revenue.

Latest results: FY2026 Q3

Filed October 23, 2026
Earnings per share
-$1.21 against an average estimate of -$1.48: beat by 18.2%
Revenue
$140m, down 2.7% on a year earlier
Share reaction
+43.0% in the first session after the results on October 23, 2026, against +0.2% for the S&P 500
Guidance given
graphite electrode sales volume growth growth 5% to 10% (full year of 2026); full-year capital expenditures $35m (full-year)
Next report
October 23, 2026; average EPS estimate -$0.97

Graftech International's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-4.8%
  • 1 week+6.4%
  • 1 month+20.0%
  • This year-27.0%
  • 1 year-16.1%
  • 5 years-89.7%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$509M
Operating margin
-21.0%
Net margin
-38.4%
EPS (TTM, diluted)
$-7.44

Growth

Revenue growth
−2.5%
Change in growth rate
−3.3 pts

Cash

Free cash flow (TTM)
-$158M
FCF margin
-31.1%
Stock pay % of revenue
1.1%

Earnings

Last results
October 23, 2026
Next results (est.)
February 5, 2027

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance
  3. Restructuring
  4. Results

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

What the price is pricing in

The share price implies about 7.3% a year of cash-flow growth for five years.That is faster than the -17.7% a year revenue growth Graftech International has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in7.3%
  • Last 12 months-2.5%
  • 3 years a year-11.4%
  • 5 years a year-17.7%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($11.50, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$2.6
Price used
$11.50close November 3, 2026
Implied change
▼ 78%
Uncertainty
Very high

How we got here: a discounted-cash-flow model of Graftech International LTD's free cash flow after stock-based pay with after-tax interest added back ($61.3M, FY2026 Q3 TTM), growing 9% and 4.4% in the next two years (forecasts, guidance and its record), then back to 2% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span no equity value–~$16 ; that spread sets a 45% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Graftech International LTD's free cash flow after stock-based pay ( $61.3M, FY2026 Q3 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Graftech International LTD as an operating company, with every model that fits that kind of business. Cost of equity 10.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.33 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$2.6 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$2.6 ~$2.6–$16 1 model

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Graftech International LTD with Specialty Chemicals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% —$5$21$41$68$103
8.5% ——$5$20$39$64
10% ———$7$22$41

Valuation multiples over time Market data may be delayed

Graftech International LTD: market value and multiples by fiscal year
At fiscal year end 20182019202020212022202320242025Now
Share price$108.30$113.06$105.22$117.15$47.41$21.90$17.30$15.51$11.33
Market value$3.2bn$3.3bn$2.8bn$3.1bn$1.2bn$563m$446m$403m$298m
+ Net debt (− = net cash)$2.2bn$1.7bn$1.3bn$972m$787m$773m$869m$987m$1.1bn
Enterprise value$5.4bn$5.0bn$4.1bn$4.1bn$2.0bn$1.3bn$1.3bn$1.4bn$1.4bn
Multiples
Price / sales 1.7x1.8x2.3x2.3x1.0x0.9x0.8x0.8x0.6x
Price / earnings 3.8x4.4x6.5x8.0x3.2x————
Price / free cash flow 4.2x4.4x5.3x8.1x4.9x25.0x———
EV / EBITDA 4.6x4.8x6.3x7.1x3.8x————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

55 /100

Moderate moat

How hard Graftech International's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 11 / 20

    Net income has been a median 7.6% of total assets over 10 years.

  • Pricing power 4 / 20

    Gross margin has been a median 32.9%, moving by 26.8 percentage points (standard deviation) across 10 years.

  • Durability 7 / 20

    Operating margin has been a median 22.9%; its worst year was -47.6%.

  • Cash conversion 13 / 20

    Free cash flow was positive in 6 of 10 years, at a median 14.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 9.5% over five years; stock-based pay has been a median 0.6% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

Graftech International LTD: consensus estimates
Fiscal yearEPSGrowthRevenueGrowth
Current −$5.70 +11% $519m +3%
Next −$3.31 +42% $624m +20%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −13.6% on 90 days ago. In the last 30 days, 0 analysts raised Graftech International LTD's forecast and 0 cut it.

Consensus EPS forecast Graftech International LTD, last 90 days
−$8.00 −$6.00 −$4.00 −$2.00 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$6.60 Current fiscal year, 60 days ago: −$6.60 Current fiscal year, 30 days ago: −$6.60 Current fiscal year, 7 days ago: −$6.60 Current fiscal year, Now: −$5.70 −$5.70 Next fiscal year, 90 days ago: −$4.30 Next fiscal year, 60 days ago: −$4.30 Next fiscal year, 30 days ago: −$4.30 Next fiscal year, 7 days ago: −$4.30 Next fiscal year, Now: −$3.31 −$3.31

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$6.60−$4.30
60 days ago −$6.60−$4.30
30 days ago −$6.60−$4.30
7 days ago −$6.60−$4.30
Now −$5.70−$3.31

Earnings against estimates

Graftech International LTD: reported EPS against the consensus estimate
Quarter toEstimateActualSurprise
Sept 2026 −$1.48 −$1.21 +18.2%
Jun 2026 −$1.65 −$1.47 +10.9%
Mar 2026 −$1.08 −$2.05 −89.8%
Dec 2025 −$1.16 −$2.45 −111.9%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, October 23, 2026
  • graphite electrode sales volume growth full year of 2026 5% growth to 10% growth Maintained
    “For GrafTech, we are maintaining our expectation for a 5-10% year-over-year increase in graphite electrode sales volume as we continue to gain market share.” source
  • full-year capital expenditures full-year about $35m Maintained
    “We also continue to anticipate full-year capital expenditures of approximately $35 million.” source
  • annual cash cost savings from Monterrey facility closure 2028 $20m to $25m New
    “We expect this initiative to generate $20 to $25 million in annual cash cost savings, excluding one-time costs, with the full annual benefit expected to be realized in 2028.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Graftech International LTD's revenue by +9.0% next year and +4.4% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+17.5%, weight 45%) and the company's own record (+2.0%, weight 55%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy125%
Hold250%
Sell125%

Monthly trend

  1. Oct 20261214
  2. Sep 20261214
  3. Aug 20261214

Counts of recommendations published by analysts covering Graftech International LTD, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
6.1%
of tradable shares
Days to cover
2.07
at average volume
Short interest, 1 month
−7%
to October 15, 2026
Held by institutions
40%
of shares
Held by insiders
40.3%
of shares
Employees
1,071
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −16.1%

$13.50 on October 31, 2025 to $11.33

Graftech International LTD: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $509m $513m +0.9%
P/S multiple 0.7x 0.6x −15.7%
Share count 26m 26m −1.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −62.0%

$29.80 on November 3, 2023 to $11.33

Graftech International LTD: share-price change split into its parts
PartThenNowEffect
Revenue (last 12 months) $876m $513m −41.4%
P/S multiple 0.9x 0.6x −33.9%
Share count 26m 26m −1.8%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Graftech International LTD: yearly return, monthly win rate and worst fall against the S&P 500
Calendar year 202120222023202420252026 to date
Return
EAF+11%−60%−54%−21%−10%−27%
Industry peers (median)+19%−25%−8%+7%−15%+6%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EAF58%25%33%42%50%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EAF−27%−65%−69%−75%−69%−71%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since April 19, 2018: 97% from August 1, 2018 to March 12, 2026. Getting back needed a 3719% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.23 – $18.01
From 52-week high
−37.1%
vs 50-day average
+34.3%
vs 200-day average
+35.4%
Volatility (1 year)
104%
Beta vs S&P 500
2.07

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
7 up, 5 down
typical move ±16.1%
After a week
4 up, 8 down
typical move ±19.6%
After a month
4 up, 7 down
typical move ±27.6%
Graftech International LTD: share-price change after each results release
Results releasedNext dayS&P 500 next day5 days21 days
October 23, 2026 +43.0% +0.2% +59.7% —
July 24, 2026 +9.7% +0.1% −5.4% −9.0%
May 1, 2026 +8.6% −0.1% +9.3% +31.2%
February 6, 2026 −43.1% +2.4% −57.5% −64.1%
October 24, 2025 −21.8% +2.0% −22.3% −27.7%
July 25, 2025 +21.5% +0.4% −5.2% −25.9%
April 25, 2025 −3.5% +0.8% −7.2% +73.0%
February 7, 2025 −23.5% −0.2% −23.5% −27.5%
November 12, 2024 +3.9% −0.3% +3.9% −7.2%
July 26, 2024 −3.6% +1.2% −24.0% −0.8%
April 26, 2024 +3.1% +1.3% +12.4% +11.2%
February 14, 2024 +7.6% +1.6% −4.5% +26.5%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Graftech International LTD’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Graftech International LTD in five measures

Fundamentals grade E
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Graftech International LTD
$500M $550M $600M $650M FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $620.5M Revenue (TTM), FY24 Q1: $618.3M Revenue (TTM), FY24 Q2: $570M Revenue (TTM), FY24 Q3: $541.7M Revenue (TTM), FY24 Q4: $538.8M Revenue (TTM), FY25 Q1: $514M Revenue (TTM), FY25 Q2: $508.6M Revenue (TTM), FY25 Q3: $521.9M Revenue (TTM), FY25 Q4: $504.1M Revenue (TTM), FY26 Q1: $517.4M Revenue (TTM), FY26 Q2: $512.9M Revenue (TTM), FY26 Q3: $509.1M $509.1M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $620.5M
FY24 Q1 $618.3M
FY24 Q2 $570M
FY24 Q3 $541.7M
FY24 Q4 $538.8M
FY25 Q1 $514M
FY25 Q2 $508.6M
FY25 Q3 $521.9M
FY25 Q4 $504.1M
FY26 Q1 $517.4M
FY26 Q2 $512.9M
FY26 Q3 $509.1M
Revenue growth, TTM YoY Graftech International LTD
-60% -40% -20% 0% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -51.6% Revenue growth, TTM YoY, FY24 Q1: -41.3% Revenue growth, TTM YoY, FY24 Q2: -34.9% Revenue growth, TTM YoY, FY24 Q3: -25.9% Revenue growth, TTM YoY, FY24 Q4: -13.2% Revenue growth, TTM YoY, FY25 Q1: -16.9% Revenue growth, TTM YoY, FY25 Q2: -10.8% Revenue growth, TTM YoY, FY25 Q3: -3.7% Revenue growth, TTM YoY, FY25 Q4: -6.4% Revenue growth, TTM YoY, FY26 Q1: 0.7% Revenue growth, TTM YoY, FY26 Q2: 0.9% Revenue growth, TTM YoY, FY26 Q3: -2.5% -2.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -51.6%
FY24 Q1 -41.3%
FY24 Q2 -34.9%
FY24 Q3 -25.9%
FY24 Q4 -13.2%
FY25 Q1 -16.9%
FY25 Q2 -10.8%
FY25 Q3 -3.7%
FY25 Q4 -6.4%
FY26 Q1 0.7%
FY26 Q2 0.9%
FY26 Q3 -2.5%
Operating margin (TTM) Graftech International LTD
-60% -40% -20% 0% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: -34.6% Operating margin (TTM), FY24 Q1: -38.6% Operating margin (TTM), FY24 Q2: -43.8% Operating margin (TTM), FY24 Q3: -47.6% Operating margin (TTM), FY24 Q4: -14.0% Operating margin (TTM), FY25 Q1: -14.0% Operating margin (TTM), FY25 Q2: -16.5% Operating margin (TTM), FY25 Q3: -12.0% Operating margin (TTM), FY25 Q4: -15.3% Operating margin (TTM), FY26 Q1: -17.3% Operating margin (TTM), FY26 Q2: -17.5% Operating margin (TTM), FY26 Q3: -21.0% -21.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 -34.6%
FY24 Q1 -38.6%
FY24 Q2 -43.8%
FY24 Q3 -47.6%
FY24 Q4 -14.0%
FY25 Q1 -14.0%
FY25 Q2 -16.5%
FY25 Q3 -12.0%
FY25 Q4 -15.3%
FY26 Q1 -17.3%
FY26 Q2 -17.5%
FY26 Q3 -21.0%
FCF margin (TTM) Graftech International LTD
-40% -30% -20% -10% 0% 10% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 3.6% FCF margin (TTM), FY24 Q1: 1.9% FCF margin (TTM), FY24 Q2: -1.5% FCF margin (TTM), FY24 Q3: -5.8% FCF margin (TTM), FY24 Q4: -13.8% FCF margin (TTM), FY25 Q1: -20.6% FCF margin (TTM), FY25 Q2: -23.4% FCF margin (TTM), FY25 Q3: -23.1% FCF margin (TTM), FY25 Q4: -23.9% FCF margin (TTM), FY26 Q1: -20.3% FCF margin (TTM), FY26 Q2: -24.1% FCF margin (TTM), FY26 Q3: -31.1% -31.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 3.6%
FY24 Q1 1.9%
FY24 Q2 -1.5%
FY24 Q3 -5.8%
FY24 Q4 -13.8%
FY25 Q1 -20.6%
FY25 Q2 -23.4%
FY25 Q3 -23.1%
FY25 Q4 -23.9%
FY26 Q1 -20.3%
FY26 Q2 -24.1%
FY26 Q3 -31.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Graftech International LTD: annual financial statements
Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Sept 2026
Income
Revenue 659 1,007 1,320 1,248 1,167 825 533 438 551 1,896 1,791 1,224 1,346 1,281 621 539 504 509
Gross profit 190 289 325 316 139 92 — −30 88 1,190 1,040 660 644 555 36 −20 −16 −34
EBITDA 133 201 248 238 121 −136 — −11 98 1,192 1,036 652 574 530 −158 −13 −15 −46
Operating income 100 158 166 156 −3 −256 — −94 32 1,126 974 589 508 474 −214 −75 −77 −107
Net income 16 175 153 118 −27 −285 — −236 8 854 745 434 388 383 −255 −131 −220 −196
Diluted EPS $1.30 $14.10 $10.50 $8.40 −$2.00 −$21.00 — −$7.80 $0.30 $28.70 $25.80 $16.20 $14.60 $14.80 −$9.93 −$5.09 −$8.45 −$7.44
Growth (year on year)
Revenue −44.6% +52.8% +31.1% −5.4% −6.5% −29.3% −35.4% −17.8% +25.8% +244.2% −5.5% −31.6% +9.9% −4.8% −51.6% −13.2% −6.4% −2.5%
EBITDA −60.5% +50.8% +23.5% −4.0% −49.3% −212.5% — — — +>999% −13.1% −37.1% −11.9% −7.7% −129.7% — — —
Operating income −66.7% +57.5% +5.0% −5.7% −101.6% — — — — +>999% −13.5% −39.6% −13.7% −6.7% −145.2% — — —
Net income −91.5% +>999% −12.3% −23.2% −123.2% — — — — — −12.8% −41.7% −10.6% −1.4% −166.7% — — —
Diluted EPS −91.9% +984.6% −25.5% −20.0% −123.8% — — — — — −10.1% −37.2% −9.9% +1.4% −167.1% — — —
Margins
Gross margin 28.8% 28.7% 24.6% 25.3% 11.9% 11.2% — −6.9% 15.9% 62.8% 58.1% 53.9% 47.9% 43.3% 5.8% −3.7% −3.1% −6.7%
EBITDA margin 20.2% 19.9% 18.8% 19.1% 10.4% −16.5% — −2.6% 17.8% 62.9% 57.8% 53.2% 42.6% 41.3% −25.4% −2.4% −3.1% −9.0%
Operating margin 15.2% 15.7% 12.6% 12.5% −0.2% −31.0% — −21.5% 5.8% 59.4% 54.4% 48.1% 37.8% 37.0% −34.6% −14.0% −15.3% −21.0%
Net margin 2.4% 17.3% 11.6% 9.4% −2.3% −34.6% — −53.9% 1.4% 45.1% 41.6% 35.5% 28.9% 29.9% −41.1% −24.3% −43.6% −38.4%
Free-cash-flow margin 17.3% 5.8% −6.1% −2.1% 2.6% 4.4% — −1.2% 0.3% 40.5% 41.4% 43.1% 28.6% 19.7% 3.6% −13.8% −23.9% −31.1%
Cash flow
Cash from operations 170 145 77 101 117 121 — 23 37 837 805 564 443 325 77 −40 −82 −113
Capital spending 56 86 157 128 86 85 — 28 35 68 64 36 58 72 54 34 39 45
Free cash flow 114 59 −80 −26 30 36 — −5 2 768 741 528 385 252 23 −74 −121 −158
Stock-based pay 7 7 9 10 8 6 15 0 0 1 2 3 17 2 4 6 5 6
Free cash flow after stock pay 107 52 −89 −36 22 30 — −5 2 767 739 525 368 250 18 −80 −125 −164
Balance sheet
Cash 50 12 12 12 12 18 7 12 13 50 81 145 58 135 177 256 138 134
Total debt 3 301 418 563 552 718 372 374 356 2,263 1,813 1,420 1,030 922 950 1,125 1,125 1,201
Net debt (negative = net cash) −48 288 405 551 540 700 365 363 342 2,213 1,732 1,275 972 787 773 869 987 1,066
Diluted shares 12m 12m 15m 14m 14m 14m 14m 30m 30m 30m 29m 27m 27m 26m 26m 26m 26m 26m
Returned to shareholders
Dividends — — — — — — — 0 0 56 21 9 7 10 5 0 0 —
Buybacks 0 1 31 103 2 1 — 0 0 0 11 30 50 60 0 0 — —
Total returned 0 1 31 103 2 1 — 0 0 56 31 39 57 70 5 0 0 —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

1 of 4 checks passed · September 30, 2026
What it owns · $1.0bn
Short-term assets $519mLonger-term assets $503m
What it owes, and who funded it · $146m
Short-term liabilities $146mShareholders' equity $-388m
  • Short-term assets cover short-term liabilities $519m of assets due within a year against $146m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $134m of cash against $1.2bn of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$113m of operating cash flow against $1.2bn of debt.
  • Operating profit covers interest at least five times over Operating income of −$107m against $99m of interest.

From Graftech International LTD's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

R&D spending
1.2%
of revenue
Sales & admin spending
10.4%
of revenue

Competitors: side by side with peers

Closest by revenue in specialty chemicals
Growth, margins and cash generation against peers
Last 12 months unless stated EAF LXFR PRM ECVT FTK ALTO Median
Revenue, last 12 months $509m $355m $757m $869m $293m $943m $906m
Revenue growth, last 12 months −2.5% −11.8% 24.2% 39.8% 36.8% 1.1% 5.4%
Revenue growth, 3-year average −11.4% −5.9% 33.0% 4.6% 15.0% −10.1% 0.9%
Revenue growth, latest quarter −2.7% −4.1% 31.5% 42.0% 70.3% 12.5% 8.3%
Gross margin −6.7% 25.1% 54.7% 21.3% 24.7% 6.8% 28.8%
Operating margin −21.0% 6.3% −50.6% 9.4% 12.8% 3.8% 4.3%
Operating margin, 3-year average −26.9% 5.2% −13.6% 11.8% 8.4% −1.8% 5.5%
Net margin −38.4% 1.7% −44.9% −7.1% 13.0% 5.5% 0.8%
Cash from operations / revenue −22.2% 8.4% 16.9% 17.1% −0.8% 6.9% 6.9%
Free-cash-flow margin −31.1% 5.3% 12.8% 8.3% −1.6% 5.3% 4.3%
Free-cash-flow margin, 3-year average −20.0% 7.6% 19.9% 12.9% −1.6% 1.4% 5.1%
Stock pay / revenue 1.1% 1.0% 2.3% 1.2% 1.1% 0.3% 1.0%
Change in share count −1.3% −0.1% 6.7% −3.5% 17.5% 4.0% 0.1%

Median of all 42 companies we cover in specialty chemicals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

42 specialty chemicals companies
Measures ranked against peers
Measure Company Peer median Rank
Revenue growth Growth -2.5% 6.0% 33 of 42
Change in growth rate Growth -3.3pp +1.3pp 35 of 42
Gross margin Profitability -6.7% 31.5% 39 of 40
Operating margin Profitability -21.0% 3.8% 26 of 39
Net margin Profitability -38.4% 1.7% 30 of 42
Free-cash-flow margin Cash generation -31.1% 4.8% 35 of 42
Stock pay as % of revenue Cash generation 1.1% 1.0% 22 of 36
Long-term debt as % of assets Balance sheet 117.4% 26.8% 36 of 36

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Graphite Electrodes $461M 91.4% ▼ 6.7%
By Products and Other $43.5M 8.6% ▼ 3.6%
Geography
Region Revenue Share YoY
United States $206M 40.9% ▲ 20.4%
Europe Middle East Africa $199M 39.5% ▼ 7.3%
Americas $67.1M 13.3% ▼ 29.7%
Asia Pacific $31.9M 6.3% ▼ 44.6%

From Graftech International LTD's 10-K filed February 13, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Reported value
$62.3M
Institutions reporting
87
Shares held vs prior quarter
▼ 0.4%
Positions opened / closed
24 / 17

Top buyers and sellers, Q2 2026: 49 institutions bought and 39 sold ; the biggest buyer was Blackrock, Inc (+953K shares) and the biggest seller Millennium Management LLC (−373K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $7.6M 1.3M 12.2% ▲ 288.2%
Yacktman Asset Management LP $6.8M 1.1M 10.9% ▲ 7.7%
Marathon Asset Management LP $5.7M 963K 9.1% ▼ 20.5%
Vanguard Capital Management LLC $4.8M 817K 7.7% ▼ 5.5%
Franklin Resources Inc $4.4M 737K 7.0% ▲ 3.3%
Benefit Street Partners LLC $4.4M 737K 7.0% ▲ 3.3%
Ameriprise Financial Inc $4.3M 720K 6.8% ▲ 28.1%
Charles Schwab Investment Management Inc $3.3M 564K 5.3% ▼ 38.2%
Marshall Wace, LLP $2.6M 446K 4.2% ▼ 38.7%
Geode Capital Management, LLC $2.5M 425K 4.0% ▲ 149.4%
Shenkman Capital Management Inc $1.5M 243K 2.4% New
Prescott Group Capital Management, L.L.C. $1.3M 215K 2.0% ▼ 51.1%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Graftech International LTD's complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart

No open-market insider trades reported in the last 12 months.

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around February 5, 2027 estimated from the company's past filing pattern, not announced

  • October 23, 2026
  • July 24, 2026
  • May 1, 2026
  • February 6, 2026
  • October 24, 2025
  • July 25, 2025

Recent SEC filings

Data status

When each part of this page on Graftech International LTD was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Graftech International LTD in brief

What does Graftech International LTD do?
Graftech International LTD is a US-listed company in the specialty chemicals industry. Its financial year ends in December.
What is Graftech International LTD's stock ticker?
Graftech International LTD trades under the ticker EAF on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Graftech International LTD's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Graftech International LTD reported revenue of $509M, 2.5% lower than a year earlier, according to its SEC filings.
What is Graftech International LTD's free cash flow?
Graftech International LTD's free-cash-flow margin is -31.1% of revenue over the trailing twelve months, ranking 35 of the 42 specialty chemicals companies we cover.
Who are Graftech International LTD's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Yacktman Asset Management LP and Marathon Asset Management LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Graftech International LTD's market cap?
On November 2, 2026, Graftech International LTD's market capitalisation was about $298M and net debt of $1.1B. Market figures come from third-party market data and may be delayed.
Who are Graftech International LTD's competitors?
In our Specialty Chemicals peer group, the companies closest to Graftech International LTD are Luxfer Holdings PLC, Perimeter Solutions, Inc., Ecovyst Inc., Flotek Industries Inc and Alto Ingredients, Inc. The side-by-side comparison below sets their revenue, margins and growth against Graftech International LTD's.
When is Graftech International LTD's next earnings date?
Around February 5, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Graftech International LTD announces its own schedule.