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Eastman Chemical Co (EMN) stock

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NYSE: EMN NYSE Diversified Chemicals Next results ~January 28, 2027

C+ Fundamentals grade

Eastman Chemical Co is a US-listed company in the diversified chemicals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($22.10) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($22.10) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating. We'll show the comparison once resolved.

Eastman Chemical Co valuation: adjust assumptions and compare models →

Who’s trading

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

  • Insiders0 buying, 1 selling0 purchases and 2 sales by directors and officers, last 12 monthsInsider trades
  • Funds310 adding, 267 cuttingOf 57 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Eastman Chemical files

10-Q filed October 30: Eastman Chemical Co

Revenue for the twelve months to September 2026 was $9.05bn, up 0.3% on a year earlier, against a decline of 4.5% a quarter earlier. Free-cash-flow margin held at 5.2%. Its fundamentals grade moves from C to C+.

Our model value for Eastman Chemical is under review, so past values are not shown until it is resolved.

Source: 10-Q filed October 30, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Eastman Chemical Co stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $8.87bn, down 4.5% on a year earlier, faster than -7.7% a quarter earlier. That puts it 897 of 931 for growth among all the companies we cover. Free-cash-flow margin rose to 6.1% from 4.4% a year earlier. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 3 of our 6 financial-health checks. At that price, our model says the market is pricing in about 9.2% a year of cash-flow growth for five years, faster than the -3.3% a year revenue growth it has delivered.

10-Q on SEC EDGAR

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 ~January 28, 2027 (estimated)

Eastman Chemical Co's trailing-twelve-month revenue grew 0.3% year on year, with a free-cash-flow margin of 5.2%.

Our discounted-cash-flow model values the business at ~$22 per share in the base case (~$6.7–$42 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 18.7% while net income fell 13.3%: a 32pp divergence.

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

Highlights

How we pick these

Strengths

  • Growth speeding up. The growth rate is 4.8 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 1.1% in a year, so each share owns more of the business.

Things to watch

  • Gross margin slipping. Gross margin is down 2.3 points on a year ago.
  • Weak cash conversion. Free cash flow was 75% of net income over the last 12 months.

Latest results: FY2026 Q3

Filed October 30, 2026
Earnings per share
$1.84 against an average estimate of $1.92: missed by 4.0%
Revenue
$2.38bn, up 8.3% on a year earlier
Share reaction
-0.2% in the first session after the results on October 29, 2026, against -2.1% for the S&P 500
Guidance given
adjusted earnings per diluted share $6 to $6.2 (full-year 2026); operating cash flow $850m (full-year 2026)
Next report
January 28, 2027; average EPS estimate $1.32

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

Price chart

  • 1 day+0.4%
  • 1 week+1.6%
  • 1 month+2.9%
  • This year+8.4%
  • 1 year+17.8%
  • 5 years-26.1%
  • S&P 500 this year+11.2%

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

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$9B
Net margin
6.9%
EPS (TTM, diluted)
$5.44

Growth

Revenue growth
+0.3%
Change in growth rate
+4.8 pts
Share count change
−1.1%

Cash

Free cash flow (TTM)
$469M
FCF margin
5.2%
Stock pay % of revenue
0.8%

Earnings

Last results
October 29, 2026
Next results (est.)
January 28, 2027

News & updates

Updated November 1, 2026

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

  1. Our research
  2. Results
  3. Announcement
  4. Guidance
  5. Announcement
  6. Dividend
  7. Results
  8. Announcement

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.

Valuation

Eastman Chemical Co valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($22.10) was left out of our combined valuation (it is more than 3x away from the median of our other models), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Eastman Chemical Co's free cash flow after stock-based pay ( $421M, 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.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Eastman Chemical Co as an operating company, with every model that fits that kind of business. Cost of equity 9.3%: the 10-year Treasury yield (4.9%) plus a beta of 0.97 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. ~$22 ~$6.7–$42 Left out: far from the other models (more than 3x away from their median)
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$66 ~$51–$150 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$85 ~$64–$120 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$96 ~$83–$110 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Eastman Chemical Co with Materials sector 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$47.09$53.88$68.04$55.04$61.65$81.24$100.36$69.88$80.12$84.21$61.58$66.78
Market value$7.1bn$8.0bn$9.9bn$7.9bn$8.5bn$11.1bn$13.8bn$8.7bn$9.6bn$9.9bn$7.1bn$7.7bn
+ Net debt (− = net cash)$6.7bn$6.4bn$6.3bn$5.9bn$5.6bn$5.1bn$4.7bn$4.7bn$4.3bn$4.2bn$4.2bn$4.5bn
Enterprise value$13.8bn$14.4bn$16.3bn$13.8bn$14.1bn$16.1bn$18.5bn$13.4bn$13.9bn$14.1bn$11.3bn$12.1bn
Multiples
Price / sales 0.7x0.9x1.0x0.8x0.9x1.3x1.3x0.8x1.0x1.1x0.8x0.8x
Price / earnings 8.3x9.4x7.2x7.3x11.2x23.2x16.1x11.0x10.7x11.0x15.0x12.3x
Price / free cash flow 7.3x10.5x9.9x7.7x7.9x10.3x12.9x24.0x17.5x14.4x16.8x16.4x
EV / EBITDA 7.0x7.3x7.7x—————————

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

66 /100

Moderate moat

How hard Eastman Chemical'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 12 / 20

    Cash operating profit has been a median 9.7% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 23.1%, moving by 1.6 percentage points (standard deviation) across 10 years.

  • Durability 12 / 20

    Operating margin has been a median 14.3%; its worst year was 7.8%.

  • Cash conversion 14 / 20

    Free cash flow was positive in 10 of 10 years, at a median 7.0% of revenue.

  • Discipline 20 / 20

    The diluted share count fell 16.0% 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

Next results: January 28, 2027, after the close. Analysts expect revenue of $2.2bn and EPS of $1.32 (range $0.98 to $1.65) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $6.30 +16% $9.2bn +6%
Next $6.64 +5% $9.4bn +2%

Next year's EPS estimate has moved −3.3% in 90 days, across 16 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +0.3% on 90 days ago. In the last 30 days, 0 analysts raised Eastman Chemical Co's forecast and 5 cut it.

Consensus EPS forecast Eastman Chemical Co, last 90 days
$6.20 $6.40 $6.60 $6.80 $7.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $6.28 Current fiscal year, 60 days ago: $6.39 Current fiscal year, 30 days ago: $6.38 Current fiscal year, 7 days ago: $6.31 Current fiscal year, Now: $6.30 $6.30 Next fiscal year, 90 days ago: $6.87 Next fiscal year, 60 days ago: $6.93 Next fiscal year, 30 days ago: $6.92 Next fiscal year, 7 days ago: $6.66 Next fiscal year, Now: $6.64 $6.64

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $6.28$6.87
60 days ago $6.39$6.93
30 days ago $6.38$6.92
7 days ago $6.31$6.66
Now $6.30$6.64

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 $1.92 $1.84 −4.0%
Jun 2026 $1.82 $1.97 +8.2%
Mar 2026 $1.06 $1.09 +2.4%
Dec 2025 $0.72 $0.75 +4.2%

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

Management guidance

Earnings release, October 29, 2026
  • Adjusted earnings per diluted share full-year 2026 $6.00 to $6.20 Non-GAAP
    “we project adjusted earnings per share for full-year 2026 to be between $6.00 and $6.20 and operating cash flow to be approximately $850 million.” source
  • Operating cash flow full-year 2026 about $850m Lowered vs about 900m
    “we project adjusted earnings per share for full-year 2026 to be between $6.00 and $6.20 and operating cash flow to be approximately $850 million.” source
  • Cost savings, net of inflation 2026 $125m to $150m Maintained
    “On track to deliver $125 million to $150 million of cost savings, net of inflation” source
  • Selling price increases 2026 about $500m Maintained
    “We remain on track to implement approximately $500 million of selling price increases in 2026 compared to our expectations from before the Middle East conflict began.” 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 Eastman Chemical Co's revenue by +3.1% next year and +1.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+3.6%, weight 69%) and the company's own record (+2.0%, weight 31%) . How the weights are set.

Analyst recommendations

17 analysts, Oct 2026
Buy847%
Hold953%
Sell00%

Monthly trend

  1. Oct 202626917
  2. Sep 202636716
  3. Aug 202636615
  4. Jul 202636615

Counts of recommendations published by analysts covering Eastman Chemical Co, 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
7.3%
of tradable shares
Days to cover
4.5
at average volume
Short interest, 1 month
+8%
to October 15, 2026
Held by institutions
95%
of shares
Held by insiders
0.9%
of shares
Employees
13,000
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 +17.8%

$56.69 on October 31, 2025 to $66.78

ThenNowEffect
Revenue (last 12 months) $9.3bn $8.9bn −4.5%
Net margin 9.0% 5.0% −44.4%
P/E multiple 8.0x 17.4x +118.2%
Share count 117m 115m +1.6%

Biggest factor: p/e multiple.

Last 3 years −1.9%

$68.09 on November 3, 2023 to $66.78

ThenNowEffect
Revenue (last 12 months) $9.8bn $8.9bn −9.7%
Net margin 7.2% 5.0% −30.9%
P/E multiple 11.6x 17.4x +50.0%
Share count 120m 115m +4.7%

Biggest factor: p/e multiple.

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

Calendar year 202120222023202420252026 to date
Return
EMN+24%−30%+15%+5%−27%+8%
Industry peers (median)——————
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
EMN67%33%42%42%33%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
EMN−23%−43%−23%−20%−44%−21%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 63% from March 12, 2018 to March 23, 2020. Getting back needed a 168% gain, reached on November 24, 2020, 246 days after the low.

Price behaviour

52-week range
$53.69 – $78.50
From 52-week high
−14.9%
vs 50-day average
+0.5%
vs 200-day average
−4.1%
Volatility (1 year)
32%
Beta vs S&P 500
0.79

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
6 up, 6 down
typical move ±4.8%
After a week
6 up, 5 down
typical move ±5.9%
After a month
9 up, 2 down
typical move ±4.7%
Results releasedNext dayS&P 500 next day5 days21 days
October 29, 2026 −0.2% −2.1% — —
July 30, 2026 +4.0% +2.4% +9.2% +8.5%
April 30, 2026 +10.1% +1.3% +4.6% +7.2%
January 29, 2026 +0.4% −0.5% +10.2% +9.1%
November 3, 2025 +2.0% −1.0% +3.4% +3.4%
July 31, 2025 −19.9% −2.0% −16.6% −4.2%
April 24, 2025 −3.8% +2.8% −3.3% +2.2%
January 30, 2025 +7.5% 0.0% +9.2% +1.9%
October 31, 2024 −3.7% −1.5% −1.4% −0.7%
July 25, 2024 +4.5% +0.6% +5.5% +4.6%
April 25, 2024 −0.8% +0.6% −0.5% +4.0%
February 1, 2024 −1.1% +2.4% −0.7% +5.6%

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.

Eastman Chemical Co in five measures

Fundamentals grade C+
Growth Profitability Cash Balance sheet

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) Eastman Chemical Co
$8.6B $8.8B $9B $9.2B $9.4B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $9.2B Revenue (TTM), FY24 Q1: $9.1B Revenue (TTM), FY24 Q2: $9.1B Revenue (TTM), FY24 Q3: $9.3B Revenue (TTM), FY24 Q4: $9.4B Revenue (TTM), FY25 Q1: $9.4B Revenue (TTM), FY25 Q2: $9.3B Revenue (TTM), FY25 Q3: $9B Revenue (TTM), FY25 Q4: $8.8B Revenue (TTM), FY26 Q1: $8.6B Revenue (TTM), FY26 Q2: $8.9B Revenue (TTM), FY26 Q3: $9B $9B

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $9.2B
FY24 Q1 $9.1B
FY24 Q2 $9.1B
FY24 Q3 $9.3B
FY24 Q4 $9.4B
FY25 Q1 $9.4B
FY25 Q2 $9.3B
FY25 Q3 $9B
FY25 Q4 $8.8B
FY26 Q1 $8.6B
FY26 Q2 $8.9B
FY26 Q3 $9B
Revenue growth, TTM YoY Eastman Chemical Co
-15% -10% -5% 0% 5% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: -12.9% Revenue growth, TTM YoY, FY24 Q1: -11.4% Revenue growth, TTM YoY, FY24 Q2: -6.8% Revenue growth, TTM YoY, FY24 Q3: -0.3% Revenue growth, TTM YoY, FY24 Q4: 1.9% Revenue growth, TTM YoY, FY25 Q1: 2.8% Revenue growth, TTM YoY, FY25 Q2: 1.5% Revenue growth, TTM YoY, FY25 Q3: -3.4% Revenue growth, TTM YoY, FY25 Q4: -6.7% Revenue growth, TTM YoY, FY26 Q1: -7.7% Revenue growth, TTM YoY, FY26 Q2: -4.5% Revenue growth, TTM YoY, FY26 Q3: 0.3% 0.3%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 -12.9%
FY24 Q1 -11.4%
FY24 Q2 -6.8%
FY24 Q3 -0.3%
FY24 Q4 1.9%
FY25 Q1 2.8%
FY25 Q2 1.5%
FY25 Q3 -3.4%
FY25 Q4 -6.7%
FY26 Q1 -7.7%
FY26 Q2 -4.5%
FY26 Q3 0.3%
Operating margin (TTM) Eastman Chemical Co
10% 12% 14% 16% 18% FY15 Q1 FY15 Q4 FY16 Q3 FY17 Q4 Operating margin (TTM), FY15 Q1: 11.5% Operating margin (TTM), FY15 Q2: 11.8% Operating margin (TTM), FY15 Q3: 12.7% Operating margin (TTM), FY15 Q4: 14.3% Operating margin (TTM), FY16 Q1: 15.6% Operating margin (TTM), FY16 Q2: 15.0% Operating margin (TTM), FY16 Q3: 14.4% Operating margin (TTM), FY16 Q4: 15.4% Operating margin (TTM), FY17 Q1: 15.2% Operating margin (TTM), FY17 Q2: 15.5% Operating margin (TTM), FY17 Q3: 16.3% Operating margin (TTM), FY17 Q4: 16.0% 16.0%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period Operating margin (TTM)
FY15 Q1 11.5%
FY15 Q2 11.8%
FY15 Q3 12.7%
FY15 Q4 14.3%
FY16 Q1 15.6%
FY16 Q2 15.0%
FY16 Q3 14.4%
FY16 Q4 15.4%
FY17 Q1 15.2%
FY17 Q2 15.5%
FY17 Q3 16.3%
FY17 Q4 16.0%
FCF margin (TTM) Eastman Chemical Co
4% 5% 6% 7% 8% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 5.9% FCF margin (TTM), FY24 Q1: 5.7% FCF margin (TTM), FY24 Q2: 6.6% FCF margin (TTM), FY24 Q3: 6.4% FCF margin (TTM), FY24 Q4: 7.3% FCF margin (TTM), FY25 Q1: 6.1% FCF margin (TTM), FY25 Q2: 4.4% FCF margin (TTM), FY25 Q3: 4.4% FCF margin (TTM), FY25 Q4: 4.8% FCF margin (TTM), FY26 Q1: 5.8% FCF margin (TTM), FY26 Q2: 6.1% FCF margin (TTM), FY26 Q3: 5.2% 5.2%

Source: SEC EDGAR filings. Retrieved October 30, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 5.9%
FY24 Q1 5.7%
FY24 Q2 6.6%
FY24 Q3 6.4%
FY24 Q4 7.3%
FY25 Q1 6.1%
FY25 Q2 4.4%
FY25 Q3 4.4%
FY25 Q4 4.8%
FY26 Q1 5.8%
FY26 Q2 6.1%
FY26 Q3 5.2%

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

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 4.4 5.8 7.2 8.1 9.4 9.5 9.6 9.0 9.5 10.2 9.3 8.5 10.5 10.6 9.2 9.4 8.8 9.0
Gross profit 1.0 1.5 1.6 1.8 2.8 2.2 2.6 2.4 2.4 2.5 2.2 2.0 2.5 2.1 2.1 2.3 1.8 1.9
EBITDA 0.6 1.1 1.2 1.2 2.3 1.6 2.0 2.0 2.1 — — — — — — — — —
Operating income 0.3 0.8 0.9 0.8 1.9 1.2 1.4 1.4 1.5 — — — — — — — — —
Net income 0.1 0.4 0.6 0.4 1.2 0.8 0.8 0.9 1.4 1.1 0.8 0.5 0.9 0.8 0.9 0.9 0.5 0.6
Diluted EPS $0.93 $2.88 $4.52 $2.93 $7.44 $4.97 $5.66 $5.75 $9.47 $7.56 $5.48 $3.50 $6.25 $6.35 $7.49 $7.67 $4.10 $5.44
Growth (year on year)
Revenue −25.9% +32.9% +22.9% +12.9% +15.4% +1.9% +1.3% −6.6% +6.0% +6.3% −8.6% −8.6% +23.6% +1.0% −12.9% +1.9% −6.7% +0.3%
EBITDA −24.3% +75.8% +11.2% −4.1% +97.8% −29.8% +21.3% +0.4% +7.9% — — — — — — — — —
Operating income −37.4% +144.6% +11.0% −14.6% +132.8% −37.6% +19.1% −0.1% +10.8% — — — — — — — — —
Net income −60.7% +212.5% +52.0% −32.4% +166.6% −35.5% +12.9% +0.7% +62.1% −22.0% −29.7% −37.0% +79.3% −7.5% +12.7% +1.2% −47.6% −13.3%
Diluted EPS −79.6% +209.7% +56.9% −35.2% +153.9% −33.2% +13.9% +1.6% +64.7% −20.2% −27.5% −36.1% +78.6% +1.6% +18.0% +2.4% −46.5% −12.3%
Margins
Gross margin 23.5% 25.0% 21.9% 21.7% 29.7% 23.3% 26.7% 26.2% 24.7% 24.4% 24.1% 23.3% 23.9% 20.2% 22.4% 24.4% 21.1% 20.6%
EBITDA margin 14.1% 18.6% 16.9% 14.3% 24.5% 16.9% 20.3% 21.8% 22.2% — — — — — — — — —
Operating margin 7.8% 14.4% 13.1% 9.9% 19.9% 12.2% 14.3% 15.4% 16.0% — — — — — — — — —
Net margin 3.1% 7.3% 9.0% 5.4% 12.5% 7.9% 8.8% 9.5% 14.5% 10.6% 8.2% 5.6% 8.2% 7.5% 9.7% 9.6% 5.4% 6.9%
Free-cash-flow margin 10.2% 5.7% 2.3% 8.2% 8.7% 8.8% 10.1% 8.4% 10.6% 10.0% 11.6% 12.7% 10.2% 3.4% 5.9% 7.3% 4.8% 5.2%
Cash flow
Cash from operations 0.8 0.6 0.6 1.1 1.3 1.4 1.6 1.4 1.7 1.5 1.5 1.5 1.6 1.0 1.4 1.3 1.0 0.9
Capital spending 0.3 0.2 0.5 0.5 0.5 0.6 0.7 0.6 0.6 0.5 0.4 0.4 0.6 0.6 0.8 0.6 0.5 0.4
Free cash flow 0.4 0.3 0.2 0.7 0.8 0.8 1.0 0.8 1.0 1.0 1.1 1.1 1.1 0.4 0.5 0.7 0.4 0.5
Stock-based pay — 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.0 0.1 0.1 0.1 0.1 0.0 0.1
Free cash flow after stock pay — 0.3 0.1 0.6 0.8 0.8 0.9 0.7 1.0 1.0 1.0 1.0 1.0 0.3 0.5 0.6 0.4 0.4
Balance sheet
Cash 0.8 0.5 0.6 0.2 0.2 0.2 0.3 0.2 0.2 0.2 0.2 0.6 0.5 0.5 0.5 0.8 0.6 0.8
Total debt 1.6 1.6 1.8 4.8 4.3 7.5 7.0 6.6 6.5 6.2 5.8 5.6 5.2 5.2 4.8 5.0 4.8 5.2
Net debt (negative = net cash) 0.8 1.1 1.2 4.5 4.0 7.3 6.7 6.4 6.3 5.9 5.6 5.1 4.7 4.7 4.3 4.2 4.2 4.5
Diluted shares 147m 148m 143m 149m 157m 151m 150m 148m 146m 143m 139m 137m 137m 125m 119m 118m 116m 115m
Returned to shareholders
Dividends 0.1 0.1 0.1 0.2 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4
Buybacks — — — — — — — — — — — — 0.9 — — — — —
Total returned 0.1 0.1 0.1 0.2 0.1 0.2 0.2 0.3 0.3 0.3 0.3 0.4 1.3 0.4 0.4 0.4 0.4 0.4

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 6 checks passed · September 30, 2026
What it owns · $15.5bn
Short-term assets $4.4bnLonger-term assets $11.1bn
What it owes, and who funded it · $15.4bn
Short-term liabilities $2.8bnLonger-term liabilities $6.4bnShareholders' equity $6.3bn
  • Short-term assets cover short-term liabilities $4.4bn of assets due within a year against $2.8bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities $4.4bn short-term assets against $6.4bn of longer-dated liabilities.
  • More cash than debt $768m of cash against $5.2bn of debt.
  • Debt below 40% of shareholders' equity Debt is 83% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 74% to 83% over five years.
  • A year's operating cash flow covers at least 20% of debt $879m of operating cash flow against $5.2bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Eastman Chemical Co'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

Dividends (TTM)
$382M
Returned to shareholders
81%
of free cash flow
Diluted share count
−1.1%
year over year
Total shareholder yield
5.0%
dividends 5.0% + buybacks 0.0% of market value
Dividend payout ratio
61%
of net income paid out
R&D spending
2.7%
of revenue
Sales & admin spending
7.7%
of revenue
Days sales outstanding
43 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in diversified chemicals
Last 12 months unless stated EMN CE HUN Median
Revenue, last 12 months $9.0bn $9.7bn $5.9bn $9.0bn
Revenue growth, last 12 months 0.3% −2.2% 0.6% 0.3%
Revenue growth, 3-year average −1.2% −1.9% −4.9% −1.9%
Revenue growth, latest quarter 8.3% 8.7% 14.1% 8.7%
Gross margin 20.6% 20.9% 13.5% 20.6%
Operating margin 16.0% −7.1% −0.5% −0.5%
Operating margin, 3-year average 15.2% −0.1% −0.9% −0.1%
Net margin 6.9% −12.0% −3.1% −3.1%
Cash from operations / revenue 9.7% 10.1% 2.7% 9.7%
Free-cash-flow margin 5.2% 7.3% −0.2% 5.2%
Free-cash-flow margin, 3-year average 5.3% 8.1% 1.2% 5.3%
Stock pay / revenue 0.8% 0.3% 0.5% 0.5%
Change in share count −1.1% 0.5% 0.4% 0.4%

Median of all 3 companies we cover in diversified 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

171 materials companies
Measure Company Peer median Rank
Revenue growth Growth 0.3% 8.3% 126 of 170
Change in growth rate Growth +4.8pp +2.4pp 62 of 168
Gross margin Profitability 20.6% 26.1% 92 of 151
Net margin Profitability 6.9% 3.8% 59 of 170
Free-cash-flow margin Cash generation 5.2% 5.0% 81 of 167
Stock pay as % of revenue Cash generation 0.8% 0.7% 74 of 137
Long-term debt as % of assets Balance sheet 28.8% 22.8% 90 of 147
Change in share count Balance sheet -1.1% 0.4% 42 of 161
Days sales outstanding Balance sheet 43 days 45 days 57 of 125

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
Segments
Line of business Revenue Share YoY
Advanced Materials $2.9B 32.9% ▼ 5.6%
Additives and Functional Products $2.9B 32.9% ▲ 0.6%
Chemical Intermediates $1.9B 22.0% ▼ 9.8%
Fibers $1.1B 12.0% ▼ 20.3%
All Other Segments $17M 0.2% ▼ 5.6%
Geography
Region Revenue Share YoY
All Foreign Countries $4.1B 47.3% ▼ 8.7%
United States $3.7B 41.8% ▼ 2.9%
China $950M 10.9% ▼ 11.5%

From Eastman Chemical Co'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.

Who owns it

Funds buying and selling
Reported value
$7.2B
Institutions reporting
637
Shares held vs prior quarter
▼ 0.1%
Positions opened / closed
75 / 72

Top buyers and sellers, Q2 2026: 310 institutions bought and 267 sold ; the biggest buyer was Marshall Wace, LLP (+1.0M shares) and the biggest seller Capital Research Global Investors (−2.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.1B 16.9M 15.7% ▲ 2.7%
Vanguard Portfolio Management LLC $506M 7.6M 7.0% ▼ 1.0%
Dimensional Fund Advisors LP $346M 5.2M 4.8% ▲ 4.6%
Vanguard Capital Management LLC $346M 5.2M 4.8% ▲ 1.0%
State Street Corp $283M 4.2M 3.9% ▲ 0.7%
Morgan Stanley $223M 3.3M 3.1% ▲ 8.2%
Franklin Resources Inc $192M 2.9M 2.7% ▼ 26.5%
Massachusetts Financial Services Co $178M 2.7M 2.5% ▲ 2.0%
Bank Of America Corp $165M 2.5M 2.3% ▲ 10.1%
Earnest Partners LLC $161M 2.4M 2.2% ▼ 1.8%
Capital Research Global Investors $147M 2.2M 2.0% ▼ 54.8%
Allspring Global Investments Holdings, LLC $146M 2.2M 2.0% ▼ 15.9%

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 Eastman Chemical Co's complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $365,789 2 trades by 1 insider · 0% under pre-set plans
Net ▼ $365,789 net selling
Insider Date Trade Shares Price Value
Holt Adrian James SVP, Chf HR Ofcr August 4, 2026 Sell 3,283 $71.31 $234,111
Holt Adrian James SVP, Chf HR Ofcr May 5, 2026 Sell 1,709 $77.05 $131,678

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.

Trades by members of Congress

All 11 trades and filings

No trades in Eastman Chemical Co disclosed in the last 12 months; 11 earlier trades on record.

  • Lisa C. McClain(R-MI 9):Sale (full), $1,001 - $15,000, traded August 4, 2025, filed September 12, 2025
  • Lisa C. McClain(R-MI 9):Purchase, $1,001 - $15,000, traded June 17, 2025, filed August 13, 2025
  • Robert P. Bresnahan, Jr.(R-PA 8):Sale (full), $1,001 - $15,000, traded May 15, 2025, filed June 9, 2025

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 28, 2027 estimated from the company's past filing pattern, not announced

  • October 29, 2026
  • July 30, 2026
  • April 30, 2026
  • January 29, 2026
  • November 3, 2025
  • July 31, 2025

Recent SEC filings

Data status

When each part of this page on Eastman Chemical Co 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.

Eastman Chemical Co in brief

What does Eastman Chemical Co do?
Eastman Chemical Co is a US-listed company in the diversified chemicals industry. Its financial year ends in December.
What is Eastman Chemical Co's stock ticker?
Eastman Chemical Co trades under the ticker EMN on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Eastman Chemical Co's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Eastman Chemical Co reported revenue of $9B, 0.3% higher than a year earlier, according to its SEC filings.
What is Eastman Chemical Co's free cash flow?
Eastman Chemical Co's free-cash-flow margin is 5.2% of revenue over the trailing twelve months, ranking 81 of the 167 materials companies we cover.
Who are Eastman Chemical Co's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Vanguard Portfolio Management LLC and Dimensional Fund Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Eastman Chemical Co's market cap?
On November 2, 2026, Eastman Chemical Co's market capitalisation was about $7.7B, with a price-to-earnings ratio of 12.3 and net debt of $4.5B. Market figures come from third-party market data and may be delayed.
Does Eastman Chemical Co pay a dividend?
Yes: Eastman Chemical Co paid $382M in dividends over the trailing twelve months, a dividend yield of 4.96% and a payout ratio of 61.1%.
How much debt does Eastman Chemical Co have?
Eastman Chemical Co's debt-to-equity ratio is 83.1%, from its latest balance sheet (74.3% five years earlier). The financial health section below sets out its other solvency checks.
Who are Eastman Chemical Co's competitors?
In our Diversified Chemicals peer group, the companies closest to Eastman Chemical Co are Celanese Corp and Huntsman Corp. The side-by-side comparison below sets their revenue, margins and growth against Eastman Chemical Co's.
Are insiders buying or selling Eastman Chemical Co stock?
Over the last 12 months, Eastman Chemical Co's directors and officers reported 0 open-market purchases and 2 sales on Form 4. The insider trading page charts every trade.
When is Eastman Chemical Co's next earnings date?
Around January 28, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Eastman Chemical Co announces its own schedule.