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Page Corporate Overview 6 Business Strategy 7 Financial Strategy 9 Business Segments 9 Advanced Materials Segment 9 Additives & Functional Products Segment 11 Chemical Intermediates Segment 12 Fibers Segment 13 Eastman Chemical Company General Information 15 5 Tab le of Contents CORPORATE OVERVIEW Eastman Chemical Company ("Eastman" or the "Company") is a global specialty materials company that…
10.64% operating margin is respectable but not wide. ROIC at 7.78%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 6.7% YoY. Margins deteriorated 3.3pp alongside, both lines moving the wrong way.
Free cash flow declined 38% versus the prior year, cash generation momentum has weakened. ROIC dropped from 10.75% to 7.78%, capital efficiency is deteriorating.
Profitability & Returns
Revenue (TTM)
$8.64B
▼ -6.7% YoY
Net Income (TTM)
$399M
▼ -47.6% YoY
Op. Margin
9.33%
▼ -3.3pp YoY
ROIC
6.89%
▼ -3.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$498M
▼ -38.4% YoY
Op. Cash Flow (TTM)
$1.00B
▼ -24.6% YoY
Net Debt
$4.55B
Cash & Equiv.
$665M
5Y CAGR: +0.7%
5Y CAGR: -16.9%
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