Eastman Chemical CoEastman Chemical Co
Eastman Chemical Co

Eastman Chemical Co

EMN
Materials·Chemicals

Eastman Chemical Co. engages in the provision of specialty chemicals. It operates through the following segments: Advanced Material (AM), Additives and Functional Products (AFP), Chemical Intermediates (CI), and Fibers. The AM segment produces and markets its polymers, films, and plastics with differentiated performance properties for value-added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets. The AFP segment includes chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets. The CI segment refers to large scale and vertical integration from the cellulose and acetyl, olefins, and alkylamines streams to support operating segments with advantaged cost positions. The Fibers segment offers cellulose acetate tow for use in filtration media, primarily cigarette filters. The company was founded by George Eastman in 1920 and is headquartered in Kingsport, TN.

Tennessee; U.S.A
Market cap
$7.3BNo data
Revenue
$8.8B−6.7% YoY
Net income
$474M−47.6% YoY
Free cash flow
$424M−38.4% YoY

Market

Listed stock
EMNPriceNYSE
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Financial performance

Revenue
$8.8B−6.7% YoY
Operating income
$322M−56.7% YoY
Net income
$474M−47.6% YoY
Free cash flow
$424M−38.4% YoY

Revenue, profit & cash trend

Revenue
Operating income
Net income
Free cash flow
Reference
Revenue: 2021 $10.5B, 2022 $10.6B, 2023 $9.2B, 2024 $9.4B, 2025 $8.8B. Operating income: 2021 $1.4B, 2022 $633M, 2023 $575M, 2024 $744M, 2025 $322M. Net income: 2021 $857M, 2022 $793M, 2023 $894M, 2024 $905M, 2025 $474M. Free cash flow: 2021 $1.1B, 2022 $364M, 2023 $546M, 2024 $688M, 2025 $424M. Reference line: Reference at $0.

Growth & profitability

Revenue growth
-6.7%−858 bps YoY
Gross margin
No dataNo data
Operating margin
No dataNo data
FCF margin
No dataNo data

Earnings power over time

Operating income
Net income
Free cash flow
Operating income: 2021-12-31 $1.4B, 2022-12-31 $633M, 2023-12-31 $575M, 2024-12-31 $744M, 2025-12-31 $322M. Net income: 2021-12-31 $857M, 2022-12-31 $793M, 2023-12-31 $894M, 2024-12-31 $905M, 2025-12-31 $474M. Free cash flow: 2021-12-31 $1.1B, 2022-12-31 $364M, 2023-12-31 $546M, 2024-12-31 $688M, 2025-12-31 $424M

Growth heatmap

2022202320242025CAGR
Revenue
+1.0%
-12.9%
+1.9%
-6.7%
-4.4%
Gross profit
-14.5%
-3.6%
+11.1%
-19.5%
-7.3%
Operating income
-55.4%
-9.2%
+29.4%
-56.7%
-31.0%
Free cash flow
-65.8%
+50.0%
+26.0%
-38.4%
-20.5%

Earnings quality

Operating cash flow
$970M−24.6% YoY
Net income
$474M−47.6% YoY
Free cash flow
$424M−38.4% YoY
Diluted EPS
No dataNo data

Cash conversion quality

Operating cash flow
Free cash flow
Net income = 100%
Operating cash flow: 2025-12-31 205%, 2024-12-31 142%, 2023-12-31 154%, 2022-12-31 123%, 2021-12-31 189%. Free cash flow: 2025-12-31 89%, 2024-12-31 76%, 2023-12-31 61%, 2022-12-31 46%, 2021-12-31 124%. Reference line: Net income = 100% at 100%.

Per-share economics

Diluted EPS
Latest
No data
FCF / share
Latest
No data
Diluted shares
Latest
No data

Financial flexibility

Cash & equivalents
No dataNo data
Total debt
No dataNo data
Net debt
No dataNo data
Current ratio
No dataNo data

Cash Coverage of Debt

Cash / Total debt
No data

Returns

Return on equity
No dataNo data
Return on assets
No dataNo data
Return on invested capital
No dataNo data
Asset turnover
No dataNo data

Return on capital

No data

Valuation

Price to earnings
No dataNo data
Price to sales
No dataNo data
EV / EBITDA
No dataNo data
Free cash flow yield
No dataNo data

Valuation vs its own 5Y history

Metric
Own five-year range
Current
Own 5Y median
Position in own range
Price to earnings
No data
No data
No data
No data
Price to sales
No data
No data
No data
No data
EV / EBITDA
No data
No data
No data
No data
Free cash flow yield
No data
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No data