Eastman Chemical Company (EMN) Balance Sheet

NYSE: EMNAssets, liabilities, debt and equity over 10 years.

EMN balance sheet, 2025

December 31, 2025 · U.S. dollars

$14.86B assets = $8.82B liabilities + $6.04B equity

Both columns are drawn to the same scale: what EMN owns equals what it owes plus shareholders’ equity. Hover a block for its value.

EMN financial health

Current ratio1.37

Adequate · current assets cover current liabilities 1.37×

Debt / equity0.85

Moderate leverage · $0.85 of debt for each $1 of equity

Equity / assets40.1%

Equity-funded · of assets funded by shareholders

Cash / debt11.1%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles31.2%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

EMN balance sheet trends, 2016–2025

Eastman Chemical Company balance sheet trends
Metric	Then	Latest	Change
Total assets	$15.46B2016	$14.86B2025	−0.4%/yr
Total liabilities	$10.85B2016	$8.82B2025	−2.3%/yr
Shareholders’ equity	$4.54B2016	$5.96B2025	+3.1%/yr
Cash & short-term investments	$181.0M2016	$566.0M2025	+13.5%/yr
Total debt	$6.59B2016	$5.08B2025	−2.9%/yr
Net cash (debt)	−$6.41B2016	−$4.51B2025	+$1.9B
Working capital	$1.07B2016	$993.0M2025	−$78.0M
Book value per share	$30.632016	$51.572025	+6.0%/yr
Current ratio	1.602016	1.372025	−0.22
Debt / equity	1.452016	0.852025	−0.60
Shares outstanding	148.4M2016	115.6M2025	−2.7%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

EMN assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

EMN liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

EMN debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

EMN balance sheet

Eastman Chemical Company annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$566.0M	$837.0M	$548.0M	$493.0M	$459.0M	$564.0M	$204.0M	$226.0M	$191.0M	$181.0M
Cash & equivalents	$566.0M	$837.0M	$548.0M	$493.0M	$459.0M	$564.0M	$204.0M	$226.0M	$191.0M	$181.0M
Short-term investments	—	—	$1.0M	$1.0M	$26.0M	$1.0M	$1.0M	$1.0M	$1.0M	$1.0M
Receivables	$999.0M	$1.17B	$1.15B	$1.28B	$1.58B	$1.51B	$1.38B	$1.48B	$1.39B	$1.21B
Inventory	$1.98B	$1.99B	$1.68B	$1.89B	$1.50B	$1.38B	$1.66B	$1.58B	$1.51B	$1.40B
Other current assets	$100.0M	$104.0M	$96.0M	$114.0M	$1.10B	$83.0M	$80.0M	$73.0M	$57.0M	$70.0M
Total current assets	$3.65B	$4.10B	$3.48B	$3.78B	$4.65B	$3.54B	$3.32B	$3.37B	$3.14B	$2.87B
Property, plant & equipment (net)	$5.92B	$5.62B	$5.55B	$5.16B	$5.00B	$5.55B	$5.57B	$5.60B	$5.61B	$5.28B
Goodwill & intangible assets	$4.63B	$4.66B	$4.78B	$4.87B	$5.00B	$6.26B	$6.44B	$6.65B	$6.90B	$6.93B
Long-term investments	$0	$0	$0	$0	$0	$0	$174.0M	$126.0M	$95.0M	$107.0M
Other non-current assets	$657.0M	$833.0M	$820.0M	$855.0M	$874.0M	$736.0M	$500.0M	$252.0M	$254.0M	$278.0M
Total assets	$14.86B	$15.21B	$14.63B	$14.67B	$15.52B	$16.08B	$16.01B	$15.99B	$16.00B	$15.46B
Liabilities
Accounts payable	$1.21B	$1.31B	$1.17B	$1.32B	$1.23B	$799.0M	$890.0M	$914.0M	$842.0M	$704.0M
Short-term debt	$642.0M	$499.0M	$593.0M	$1.13B	$797.0M	$349.0M	$171.0M	$243.0M	$393.0M	$283.0M
Deferred revenue	—	—	−$95.0M	$671.0M	$620.0M	$638.0M	$448.0M	$94.0M	$399.0M	$412.0M
Total current liabilities	$2.65B	$2.71B	$2.58B	$3.25B	$2.97B	$2.04B	$1.79B	$1.85B	$1.98B	$1.79B
Long-term debt	$4.20B	$4.57B	$4.30B	$4.03B	$4.41B	$5.27B	$5.61B	$5.92B	$6.15B	$6.31B
Other long-term liabilities	$1.97B	$2.09B	$2.23B	$2.15B	$2.35B	$2.67B	$2.58B	$2.34B	$2.39B	$2.74B
Total liabilities	$8.82B	$9.36B	$9.10B	$9.43B	$9.73B	$9.97B	$9.98B	$10.12B	$10.52B	$10.85B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M
Retained earnings (deficit)	$10.11B	$10.01B	$9.49B	$8.97B	$8.56B	$8.08B	$7.96B	$7.57B	$6.80B	$5.72B
Treasury stock	—	—	—	−$5.93B	−$4.86B	−$3.96B	−$3.90B	−$3.58B	−$3.17B	−$2.83B
Accumulated other comprehensive income	−$160.0M	−$314.0M	−$319.0M	−$205.0M	−$182.0M	−$273.0M	−$214.0M	−$245.0M	−$209.0M	−$281.0M
Minority interest	$76.0M	$73.0M	$72.0M	$83.0M	$84.0M	$85.0M	$74.0M	$75.0M	$77.0M	$76.0M
Total shareholders' equity	$5.96B	$5.78B	$5.46B	$5.15B	$5.70B	$6.02B	$5.96B	$5.80B	$5.49B	$4.54B
Key figures
Total debt	$5.08B	$5.26B	$5.14B	$5.15B	$5.52B	$5.62B	$5.78B	$6.17B	$6.54B	$6.59B
Net cash (debt)	−$4.51B	−$4.42B	−$4.59B	−$4.66B	−$5.06B	−$5.05B	−$5.58B	−$5.94B	−$6.35B	−$6.41B
Working capital	$993.0M	$1.39B	$905.0M	$527.0M	$1.68B	$1.50B	$1.53B	$1.51B	$1.16B	$1.07B
Tangible book value	$1.33B	$1.11B	$674.0M	$279.0M	$701.0M	−$234.0M	−$484.0M	−$849.0M	−$1.41B	−$2.38B
Book value per share	$51.57	$49.02	$45.71	$41.26	$41.60	$44.12	$43.02	$40.61	$37.60	$30.63
Shares outstanding	115.6M	117.9M	119.4M	124.9M	137.1M	136.5M	138.5M	142.9M	146.1M	148.4M
Current ratio	1.37	1.51	1.35	1.16	1.56	1.74	1.86	1.82	1.59	1.60
Quick ratio	0.59	0.74	0.66	0.54	0.69	1.02	0.88	0.92	0.80	0.78
Debt / equity	0.85	0.91	0.94	1.00	0.97	0.93	0.97	1.06	1.19	1.45
Equity / assets	40.1%	38.0%	37.3%	35.1%	36.8%	37.4%	37.2%	36.3%	34.3%	29.4%

Eastman Chemical Company quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$691.0M	$665.0M	$566.0M	$489.0M	$423.0M	$418.0M	$837.0M	$622.0M	$514.0M	$499.0M	$548.0M	$439.0M
Cash & equivalents	$691.0M	$665.0M	$566.0M	$489.0M	$423.0M	$418.0M	$837.0M	$622.0M	$514.0M	$499.0M	$548.0M	$439.0M
Short-term investments	—	—	—	—	—	—	—	—	$16.0M	$10.0M	$1.0M	$16.0M
Receivables	$1.36B	$1.22B	$999.0M	$1.27B	$1.34B	$1.26B	$1.17B	$1.33B	$1.33B	$1.27B	$1.15B	$1.15B
Inventory	$2.10B	$2.08B	$1.98B	$1.94B	$2.15B	$2.12B	$1.99B	$1.90B	$1.90B	$1.77B	$1.68B	$1.72B
Other current assets	$98.0M	$96.0M	$100.0M	$87.0M	$107.0M	$108.0M	$104.0M	$79.0M	$99.0M	$96.0M	$96.0M	$258.0M
Total current assets	$4.25B	$4.06B	$3.65B	$3.79B	$4.02B	$3.90B	$4.10B	$3.94B	$3.84B	$3.64B	$3.48B	$3.57B
Property, plant & equipment (net)	$5.69B	$5.69B	$5.92B	$5.75B	$5.75B	$5.64B	$5.62B	$5.59B	$5.53B	$5.54B	$5.73B	$5.43B
Goodwill & intangible assets	$4.58B	$4.61B	$4.63B	$4.67B	$4.69B	$4.66B	$4.66B	$4.73B	$4.73B	$4.75B	$4.78B	$4.79B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$898.0M	$871.0M	$657.0M	$773.0M	$759.0M	$768.0M	$833.0M	$807.0M	$847.0M	$821.0M	$640.0M	$810.0M
Total assets	$15.42B	$15.22B	$14.86B	$14.98B	$15.22B	$14.97B	$15.21B	$15.06B	$14.95B	$14.75B	$14.63B	$14.59B
Liabilities
Accounts payable	$2.08B	$1.99B	$1.21B	$1.83B	$2.01B	$1.98B	$1.31B	$2.11B	$2.04B	$1.87B	$1.17B	$1.93B
Short-term debt	$765.0M	$770.0M	$642.0M	$290.0M	$344.0M	$285.0M	$499.0M	$448.0M	$697.0M	$740.0M	$593.0M	$640.0M
Deferred revenue	—	—	—	—	—	—	—	−$2.56B	−$1.96B	—	$287.0M	—
Total current liabilities	$2.84B	$2.77B	$2.65B	$2.16B	$2.39B	$2.27B	$2.71B	$2.59B	$2.74B	$2.62B	$2.58B	$2.62B
Long-term debt	$0	$4.45B	$4.20B	$4.79B	$4.78B	$4.74B	$4.57B	$4.61B	$4.34B	$4.34B	$4.30B	$4.58B
Other long-term liabilities	$6.41B	$1.92B	$1.97B	$2.19B	$2.14B	$2.02B	$2.09B	$2.14B	$2.17B	$2.18B	$2.22B	$1.98B
Total liabilities	$9.25B	$9.14B	$8.82B	$9.14B	$9.31B	$9.03B	$9.36B	$9.33B	$9.25B	$9.14B	$9.10B	$9.17B
Shareholders' equity
Common stock & paid-in capital	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M	$2.0M
Retained earnings (deficit)	$10.20B	$10.11B	$10.11B	$10.10B	$10.14B	$10.10B	$10.01B	$9.78B	$9.69B	$9.56B	$9.49B	$9.27B
Accumulated other comprehensive income	−$160.0M	−$141.0M	−$160.0M	−$331.0M	−$353.0M	−$321.0M	−$314.0M	−$278.0M	−$302.0M	−$328.0M	−$319.0M	−$294.0M
Minority interest	—	$77.0M	$76.0M	$72.0M	$71.0M	$73.0M	—	—	—	—	—	—
Total shareholders' equity	$6.10B	$6.01B	$5.96B	$5.77B	$5.83B	$5.87B	$5.78B	$5.65B	$5.63B	$5.54B	$5.46B	$5.35B
Key figures
Total debt	$5.22B	$5.33B	$5.08B	$5.08B	$5.13B	$5.02B	$5.26B	$5.05B	$5.03B	$5.08B	$5.14B	$5.22B
Net cash (debt)	−$4.53B	−$4.66B	−$4.51B	−$4.59B	−$4.70B	−$4.60B	−$4.42B	−$4.43B	−$4.52B	−$4.58B	−$4.59B	−$4.78B
Working capital	$1.42B	$1.29B	$993.0M	$1.63B	$1.63B	$1.63B	$1.39B	$1.35B	$1.10B	$1.02B	$905.0M	$952.0M
Tangible book value	$1.51B	$1.40B	$1.33B	$1.10B	$1.14B	$1.21B	$1.11B	$927.0M	$900.0M	$784.0M	$674.0M	$561.0M
Book value per share	$52.87	$52.30	$51.88	$50.01	$50.22	$49.80	$49.02	$48.00	$47.45	$46.85	$45.98	$44.97
Shares outstanding	115.3M	114.9M	114.9M	115.4M	116.2M	117.9M	117.9M	117.8M	118.6M	118.2M	118.7M	119.0M
Current ratio	1.50	1.47	1.37	1.76	1.68	1.72	1.51	1.52	1.40	1.39	1.35	1.36
Quick ratio	0.72	0.68	0.59	0.82	0.74	0.74	0.74	0.75	0.67	0.68	0.66	0.61
Debt / equity	0.86	0.89	0.85	0.88	0.88	0.86	0.91	0.89	0.89	0.92	0.94	0.98
Equity / assets	39.5%	39.5%	40.1%	38.5%	38.3%	39.2%	38.0%	37.5%	37.7%	37.6%	37.3%	36.7%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 13, 2026); data from EODHD.

EMN financial position

At the end of fiscal 2025 (December 31, 2025), Eastman Chemical had total assets of $14.9 billion (down 2.3% from a year earlier), total liabilities of $8.8 billion and shareholders' equity of $6.0 billion. It held $566.0 million in cash and short-term investments against $5.1 billion of debt, net debt of $4.5 billion. Its current ratio was 1.37. In the latest quarter (ended June 30, 2026) total assets were $15.4 billion and equity $6.1 billion.

Related: EMN income statement, EMN cash flow statement, EMN key metrics. See the EMN stock overview for the latest quote and news.

EMN balance sheet FAQ

What are Eastman Chemical's total assets?

Eastman Chemical reported total assets of $14.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $15.2 billion a year earlier.

How much debt does Eastman Chemical have?

Eastman Chemical had $5.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.85.

How much cash does Eastman Chemical have?

Eastman Chemical held $566.0 million in cash and short-term investments at the end of fiscal 2025; with $5.1 billion of debt that is net debt of $4.5 billion.

What is Eastman Chemical's book value?

Eastman Chemical's shareholders' equity (book value) was $6.0 billion at the end of fiscal 2025, or $51.57 per share.

What is Eastman Chemical's current ratio?

Eastman Chemical had current assets of $3.6 billion and current liabilities of $2.7 billion, a current ratio of 1.37 (it can cover its short-term obligations).

How much goodwill does Eastman Chemical have?

Eastman Chemical carried $4.6 billion of goodwill and intangible assets, 31.2% of total assets, at the end of fiscal 2025.