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EMN

Eastman Chemical Company
$65.31
+2.85% Oct 22 close
MaterialsS&P 600 CompareTechnicals
-9%+1%+12%+22%+33%Oct 2025Oct 2026Apr 2026
EMNSPY
1W
+2.3%
1M
-2.6%
3M
-2.6%
6M
-7.0%
YTD
+6.0%
1Y
+12.1%

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What they do

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants. It serves transportation, personal care, wellness, food, feed, agriculture, building and construction, water treatment, energy, consumables, durables.

Basic Materials · Specialty Chemicals

For information only · Important disclosures

Grades vs sector

Momentum
50th percentile in sector
C+
12-1 return: +14.4%
Percentile within its GICS sector across the S&P 1500.
Growth
54th percentile in sector
C+
Revenue growth (YoY): +9.9%
Percentile within its GICS sector across the S&P 1500.
Value
78th percentile in sector
B+
Forward E/P: 10.7% · EBITDA/EV: 11.6%
Percentile within its GICS sector across the S&P 1500.
Profitability
40th percentile in sector
C
Profit margin: +5.0% · Return on equity: +7.3%
Percentile within its GICS sector across the S&P 1500.
Revisions
Not enough data yet
–
EPS estimate change, 30 days (current FY): –
30-day change in analysts' current-year EPS estimate; graded across covered stocks.

Our models

Not held by any of our 5 live models right now.

Quality Growth
Outside this model's universe or screens
Momentum Top 15
Outside this model's universe or screens
Momentum Blend
Not in the current book
New Highs Growth
Outside this model's universe or screens
Coteau Long Book
Not in the current book

News

More news
Eastman Chemical Company (EMN) files 8-K: other event
SEC 8-K · Oct 20

Key stats

Market value$7.3B
P/E (last 12 months)16.6
P/E (next 12 months, estimated)9.6
52-week range$56.11 – $83.47
Revenue growth (latest quarter vs a year ago)+9.9%
Dividend yield5.29%
Analyst consensusBuy (16)
Average analyst price target$75.06 (+15%)
Valuation and fundamentals

Valuation & fundamentals

Bottom line
Leans expensive
Model read-out from the numbers below, not advice. Score -1 (DCF counts double).
▼DCF (base case)below the price by 18%
▲Forward P/E vs sector9.6x vs median 12.7x
•Piotroski F-score5/9
•Altman Z2.4 (grey)
•Net debt / EBITDA2.2x
•Analyst target+15% (16 analysts)

Discounted cash flow

CyclicalValued on average-cycle margins
Bear
$20
-69%
growth -3% · disc. 10.6% · term. 2.0%
Base
$53
-18%
growth 2% · disc. 9.6% · term. 2.5%
Bull
$98
+49%
growth 5% · disc. 8.6% · term. 3.0%

Starting cash flow is mid-cycle: 8.5% average margin × current revenue = 0.8B (last 12 months: 0.5B at a 6% margin). On trailing cash flow the base case would be $27.

Reverse DCFfor context, not a signal
Today's price assumes free cash flow grows about 4% a year for 10 years.
Implied
+4%/yr
FCF, last 3 yrs
+5%/yr
FCF, last 5 yrs
-17%/yr
Revenue, last 3 yrs
-6%/yr
Revenue, last 5 yrs
+1%/yr
Same inputs as the DCF above: mid-cycle free cash flow 0.8B, 9.6% discount rate, 2.5% growth after year 10, net debt and today's share count. Actual growth rates are compound annual rates from SEC annual filings through FY2025; "n/a" means too little history or a negative starting year.
Edit assumptions · recalculates instantly
Your value per share–

Free cash flow = operating cash flow − capital spending, trailing 12 months (TTM to 2026-06-30). Growth default: average of 3-year revenue CAGR and latest revenue growth, capped at 30%. Years 6–10 fade linearly to terminal growth. Discount rate = 4.25% risk-free assumption + beta 1.08 × 5% equity premium, kept within 7–13%. Bear: lower growth, +1 pt discount, 2% terminal. Bull: higher growth, −1 pt, 3%.

Multiples vs Materials

P/E (trailing)
sector median 20.6× · 29th pct
16.6×
cheaper
Forward P/E
sector median 12.7× · 22nd pct
9.6×
cheaper
EV / EBITDA
sector median 11.1× · 1st pct
5.7×
cheaper
Price / sales
sector median 1.4× · 31st pct
0.8×
cheaper
Price / book
sector median 2.3× · 9th pct
1.2×
cheaper
FCF yield
sector median 4.7% · 76th pct
7.4%
cheaper

Forward EPS $6.64 vs trailing $3.83 (+73% expected growth). Forward P/E uses analysts' next-12-month estimate.

Quality & financial health

Gross margin
19.9%
Operating margin
17.3%
FCF margin
6.1%
Net margin
5.0%
Return on equity
7.3%
Return on invested capital
11.9%
Net debt / EBITDA
2.2×
Current ratio
1.5×
Interest cover
–
Cash conversion (OCF/NI)
2.2×
Piotroski F-score 5/9 · last two fiscal years
✓ Positive net income✓ Positive operating cash flow✗ Return on assets improved✓ Cash flow above net income✓ Long-term debt / assets fell✗ Current ratio improved✓ No share dilution✗ Gross margin improved✗ Asset turnover improved

Altman Z-score 2.4 (grey zone; above 3.0 = safe, below 1.8 = distress). Not meaningful for banks and insurers.

Analysts

Mean target
$75
+15%
Analysts
16
Buy
Range
$65–$85
low – high
● price · ◆ mean target

Annual history

FYRevenueNet incomeFree cash flow
2025$8.8B$474.0M$424.0M
2024$9.4B$905.0M$688.0M
2023$9.2B$894.0M$546.0M
2022$10.6B$793.0M$364.0M
2021$10.5B$857.0M$1.1B
2020$8.5B$478.0M$1.1B

From the company's 10-K filings via SEC XBRL. 3-year revenue CAGR -6.1%.

Earnings

Next report: 2026-10-29 · after close · EPS est 1.92
24-1025-0125-0425-0725-1126-0126-0426-070.002.26
EstimateActual (beat)Actual (miss)
ReportEPS estActualSurprise
2026-07-301.821.97+8.2%
2026-04-301.061.09+2.4%
2026-01-290.720.75+4.2%
2025-11-031.171.14-2.2%
2025-07-311.751.60-8.7%
2025-04-241.891.91+1.2%
2025-01-301.571.87+18.9%
2024-10-312.142.26+5.4%

Quarterly revenue

QuarterRevenueYoY
2026-03-31$2.2B-4.9%
2025-12-31$2.0B–
2025-09-30$2.2B–
2025-06-30$2.3B–
2025-03-31$2.3B–
Rating changes
Downgrade
2026-10-16 · JP Morgan downgraded EMN from Overweight to Neutral
Reiterated
2026-10-13 · RBC Capital reiterated Sector Perform on EMN
Initiated
2026-10-13 · Barclays started covering EMN at Equal-Weight
Reiterated
2026-10-05 · UBS reiterated Buy on EMN
Reiterated
2026-10-01 · Mizuho reiterated Outperform on EMN
Reiterated
2026-09-30 · Citigroup reiterated Buy on EMN

Third-party analyst actions, not Coteau's views. All rating changes

Recent dividends

2026-09-15: $0.840 · 2026-06-15: $0.840 · 2026-03-13: $0.840 · 2025-12-15: $0.840 · 2025-09-15: $0.830 · 2025-06-13: $0.830 · 2025-03-14: $0.830 · 2024-12-16: $0.830
Insider trades
Holt Adrian James
SVP, Chf HR Ofcr · 2026-08-04
Sell
$234.1K
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Stats refreshed 2026-10-21 18:07:21 ET from Yahoo Finance (yfinance). "–" means the data isn't available. Refresh now

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Independent research · Not investment advice · Hypothetical unless marked Live · Data: Yahoo Finance (15-min delayed), SEC EDGAR, House Clerk · Important disclosures · Contact desk@coteau.app

Beta 0.9 · Oct 21, 2026