Eastman Chemical Company (EMN) Key Metrics
EMN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $7.13B
- Enterprise value
- $12.16B
- P/E (TTM)
- 16.3 10-yr median 12.9
- Forward P/E
- 9.2
- PEG ratio
- 0.51
- Price / sales
- 0.8 10-yr median 1.2
- Price / book
- 1.3 10-yr median 2.0
- EV / EBITDA
- 9.5 10-yr median 9.3
- Dividend yield
- 5.39% $3.36 a year
- Beta
- 1.08
EMN key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsEMN valuation Price multiples at each fiscal year-end price.
EMN returns How much profit the business earns on the capital it uses.
EMN per-share figures Results divided by the shares outstanding at year-end.
EMN financial health Debt, liquidity and how easily interest is covered.
EMN efficiency & capital use Working capital cycle and where the cash goes.
EMN valuation history
EMN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
EMN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
EMN cash returned to shareholders
EMN price vs earnings per share
EMN key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $7.38B | $10.77B | $10.72B | $10.17B | $16.58B | $13.69B | $10.98B | $10.45B | $13.53B | $11.16B |
| Enterprise value | $11.89B | $15.19B | $15.31B | $14.83B | $21.64B | $18.74B | $16.56B | $16.39B | $19.88B | $17.57B |
| P/E ratio | 15.6 | 11.9 | 12.0 | 12.8 | 19.3 | 28.6 | 14.5 | 9.7 | 9.2 | 12.9 |
| Price / sales | 0.8 | 1.1 | 1.2 | 1.0 | 1.6 | 1.6 | 1.2 | 1.0 | 1.4 | 1.2 |
| Price / book | 1.2 | 1.9 | 2.0 | 2.0 | 2.9 | 2.3 | 1.8 | 1.8 | 2.5 | 2.5 |
| Price / free cash flow | 17.4 | 15.6 | 19.6 | 29.0 | 15.9 | 12.8 | 10.2 | 10.3 | 13.4 | 14.7 |
| Price / operating cash flow | 7.6 | 8.4 | 7.8 | 10.4 | 10.2 | 9.4 | 7.3 | 6.8 | 8.2 | 8.1 |
| EV / sales | 1.4 | 1.6 | 1.7 | 1.4 | 2.1 | 2.2 | 1.8 | 1.6 | 2.1 | 2.0 |
| EV / EBITDA | 9.2 | 8.4 | 9.6 | 9.1 | 11.9 | 14.3 | 9.6 | 7.6 | 9.4 | 9.2 |
| EV / free cash flow | 28.0 | 22.1 | 28.0 | 42.3 | 20.8 | 17.5 | 15.3 | 16.1 | 19.7 | 23.2 |
| Earnings yield | 6.4% | 8.4% | 8.3% | 7.8% | 5.2% | 3.5% | 6.9% | 10.3% | 10.9% | 7.8% |
| Free cash flow yield | 5.7% | 6.4% | 5.1% | 3.5% | 6.3% | 7.8% | 9.8% | 9.7% | 7.4% | 6.8% |
| Dividend yield | 5.2% | 3.5% | 3.5% | 3.7% | 2.3% | 2.6% | 3.1% | 3.0% | 2.2% | 2.4% |
| Shareholder yield (dividends + buybacks) | 6.5% | 6.3% | 4.9% | 13.6% | 8.3% | 3.1% | 6.1% | 6.9% | 4.8% | 3.7% |
| Share price at fiscal year-end | $63.83 | $91.32 | $89.82 | $81.44 | $120.91 | $100.28 | $79.26 | $73.11 | $92.64 | $75.21 |
| Per share | ||||||||||
| Revenue per share | $75.71 | $79.58 | $77.14 | $84.35 | $76.46 | $62.01 | $66.77 | $70.83 | $65.12 | $60.28 |
| Earnings per share | $4.10 | $7.68 | $7.49 | $6.35 | $6.25 | $3.50 | $5.48 | $7.56 | $10.09 | $5.84 |
| Operating cash flow per share | $8.39 | $10.92 | $11.51 | $7.81 | $11.81 | $10.66 | $10.86 | $10.80 | $11.34 | $9.33 |
| Free cash flow per share | $3.67 | $5.84 | $4.57 | $2.81 | $7.59 | $7.85 | $7.79 | $7.10 | $6.90 | $5.11 |
| Cash per share | $4.90 | $7.10 | $4.59 | $3.95 | $3.35 | $4.13 | $1.47 | $1.58 | $1.31 | $1.22 |
| Book value per share | $51.57 | $49.02 | $45.71 | $41.26 | $41.60 | $44.12 | $43.02 | $40.61 | $37.60 | $30.63 |
| Tangible book value per share | $11.47 | $9.46 | $5.64 | $2.23 | $5.11 | −$1.71 | −$3.49 | −$5.94 | −$9.62 | −$16.07 |
| Dividends per share | $3.30 | $3.21 | $3.15 | $3.05 | $2.74 | $2.62 | $2.48 | $2.23 | $2.03 | $1.83 |
| Capex per share | $4.72 | $5.08 | $6.93 | $5.00 | $4.22 | $2.81 | $3.07 | $3.69 | $4.44 | $4.22 |
| Debt per share | $43.92 | $44.60 | $43.03 | $41.24 | $40.28 | $41.16 | $41.75 | $43.16 | $44.76 | $44.43 |
| Shares outstanding | 115.6M | 117.9M | 119.4M | 124.9M | 137.1M | 136.5M | 138.5M | 142.9M | 146.1M | 148.4M |
| Change in shares outstanding | −2.0% | −1.3% | −4.4% | −8.9% | +0.4% | −1.4% | −3.1% | −2.2% | −1.5% | −0.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 8.1% | 16.1% | 16.9% | 14.6% | 14.6% | 8.0% | 12.9% | 19.1% | 29.4% | 20.4% |
| Return on invested capital (ROIC) | 7.5% | 11.4% | 9.1% | 8.6% | 10.8% | 9.2% | 9.6% | 10.3% | 13.4% | 11.6% |
| Return on assets (ROA) | 3.2% | 6.1% | 6.1% | 5.3% | 5.4% | 3.0% | 4.7% | 6.8% | 9.4% | 5.6% |
| Return on tangible assets | 4.6% | 8.6% | 9.1% | 8.1% | 8.1% | 4.9% | 7.9% | 11.6% | 16.2% | 10.2% |
| Free cash flow margin | 4.8% | 7.3% | 5.9% | 3.3% | 9.9% | 12.7% | 11.7% | 10.0% | 10.6% | 8.5% |
| Income quality (OCF / net income) | 2.05 | 1.42 | 1.54 | 1.23 | 1.89 | 3.04 | 1.98 | 1.43 | 1.12 | 1.60 |
| Financial health | ||||||||||
| Total debt | $5.08B | $5.26B | $5.14B | $5.15B | $5.52B | $5.62B | $5.78B | $6.17B | $6.54B | $6.59B |
| Cash & short-term investments | $566.0M | $837.0M | $548.0M | $493.0M | $459.0M | $564.0M | $204.0M | $226.0M | $191.0M | $181.0M |
| Net debt | $4.51B | $4.42B | $4.59B | $4.66B | $5.06B | $5.05B | $5.58B | $5.94B | $6.35B | $6.41B |
| Debt / equity | 0.85 | 0.91 | 0.94 | 1.00 | 0.97 | 0.93 | 0.97 | 1.06 | 1.19 | 1.45 |
| Debt / assets | 0.34 | 0.35 | 0.35 | 0.35 | 0.36 | 0.35 | 0.36 | 0.39 | 0.41 | 0.43 |
| Net debt / EBITDA | 3.50 | 2.45 | 2.88 | 2.85 | 2.79 | 3.86 | 3.23 | 2.77 | 3.00 | 3.35 |
| Current ratio | 1.37 | 1.51 | 1.35 | 1.16 | 1.56 | 1.74 | 1.86 | 1.82 | 1.59 | 1.60 |
| Quick ratio | 0.63 | 0.78 | 0.70 | 0.58 | 1.06 | 1.06 | 0.93 | 0.96 | 0.82 | 0.81 |
| Interest coverage | 4.5 | 6.4 | 4.6 | 5.8 | 7.7 | 5.5 | 6.0 | 6.2 | 6.3 | 6.0 |
| Working capital | $993.0M | $1.39B | $905.0M | $527.0M | $1.68B | $1.50B | $1.53B | $1.51B | $1.16B | $1.07B |
| Invested capital | $10.47B | $10.20B | $10.05B | $9.81B | $10.77B | $11.08B | $11.54B | $11.74B | $11.84B | $10.96B |
| Tangible asset value | $1.40B | $1.19B | $746.0M | $362.0M | $785.0M | −$149.0M | −$410.0M | −$774.0M | −$1.42B | −$2.32B |
| Net current asset value | −$5.18B | −$5.26B | −$5.62B | −$5.65B | −$5.08B | −$6.43B | −$6.66B | −$6.75B | −$7.38B | −$7.98B |
| Graham number | $68.97 | $92.01 | $87.76 | $76.77 | $76.50 | $58.96 | $72.83 | $83.10 | $92.39 | $63.41 |
| Graham net-net per share | −$56.37 | −$56.41 | −$57.35 | −$56.31 | −$53.50 | −$55.57 | −$57.11 | −$55.89 | −$58.41 | −$61.04 |
| Capital allocation | ||||||||||
| Dividends paid | $381.0M | $379.0M | $376.0M | $381.0M | $375.0M | $358.0M | $343.0M | $318.0M | $296.0M | $272.0M |
| Share buybacks (net) | $100.0M | $300.0M | $150.0M | $1.00B | $1.00B | $60.0M | $325.0M | $400.0M | $350.0M | $145.0M |
| Dividend payout ratio | 80.4% | 41.9% | 42.1% | 48.0% | 43.8% | 74.9% | 45.2% | 29.4% | 20.1% | 31.4% |
| Dividends + buybacks / free cash flow | 113.4% | 98.7% | 96.3% | 394.0% | 132.1% | 39.0% | 61.9% | 70.7% | 64.1% | 54.9% |
| Capex / revenue | 6.2% | 6.4% | 9.0% | 5.9% | 5.5% | 4.5% | 4.6% | 5.2% | 6.8% | 7.0% |
| Capex / operating cash flow | 56.3% | 46.5% | 60.3% | 64.0% | 35.7% | 26.3% | 28.3% | 34.2% | 39.2% | 45.2% |
| Capex / depreciation | 1.06 | 1.18 | 1.66 | 1.31 | 1.07 | 0.67 | 0.70 | 0.87 | 1.11 | 1.08 |
| Stock-based compensation / revenue | — | 1.1% | 0.7% | −1.0% | 2.9% | 4.6% | 1.0% | 0.6% | 0.5% | 0.4% |
| R&D / revenue | 2.9% | 2.7% | 2.6% | 2.5% | 2.4% | 2.7% | 2.5% | 2.3% | 2.2% | 2.4% |
| SG&A / revenue | 7.5% | 7.1% | 8.3% | 6.9% | 7.6% | 7.7% | 7.5% | 7.1% | 7.4% | 7.9% |
| Efficiency | ||||||||||
| Days sales outstanding | 45.3 | 45.2 | 48.2 | 49.5 | 53.9 | 62.3 | 56.4 | 51.7 | 49.8 | 45.9 |
| Days of inventory on hand | 104.8 | 94.5 | 91.3 | 73.1 | 66.1 | 85.9 | 84.6 | 73.4 | 75.6 | 81.1 |
| Days payables outstanding | 66.6 | 63.8 | 63.5 | 54.8 | 46.4 | 47.7 | 47.0 | 41.7 | 40.1 | 39.5 |
| Cash conversion cycle (days) | 83.5 | 75.9 | 75.9 | 67.8 | 73.5 | 100.5 | 94.0 | 83.4 | 85.3 | 87.5 |
| Receivables turnover | 8.06 | 8.07 | 7.58 | 7.37 | 6.77 | 5.86 | 6.47 | 7.06 | 7.33 | 7.95 |
| Payables turnover | 5.48 | 5.72 | 5.74 | 6.66 | 7.86 | 7.65 | 7.76 | 8.76 | 9.10 | 9.25 |
| Inventory turnover | 3.48 | 3.86 | 4.00 | 4.99 | 5.53 | 4.25 | 4.31 | 4.98 | 4.83 | 4.50 |
| Asset turnover | 0.58 | 0.63 | 0.63 | 0.70 | 0.66 | 0.53 | 0.58 | 0.63 | 0.60 | 0.58 |
| Average receivables | $1.09B | $1.16B | $1.22B | $1.43B | $1.55B | $1.45B | $1.43B | $1.43B | $1.30B | $1.12B |
| Average payables | $1.26B | $1.24B | $1.24B | $1.27B | $1.01B | $844.5M | $902.0M | $878.0M | $773.0M | $701.5M |
| Average inventory | $1.98B | $1.84B | $1.79B | $1.70B | $1.44B | $1.52B | $1.62B | $1.55B | $1.46B | $1.44B |
| Intangibles / total assets | 31.2% | 30.7% | 32.7% | 33.2% | 32.2% | 38.9% | 40.2% | 41.6% | 43.1% | 44.8% |
Computed from EMN's annual financial statements (latest annual report filed February 13, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
EMN valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Eastman Chemical traded at 15.6 times earnings, against a 10-year median of 12.9. Based on the latest twelve months, the trailing P/E is 16.3 and the forward P/E is 9.2. Eastman Chemical earned a return on equity of 8.1% and a return on invested capital of 7.5% in fiscal 2025. It ended the year with $5.1 billion of debt and $566.0 million in cash and short-term investments, net debt of $4.5 billion. It returned $481.0 million to shareholders: $381.0 million in dividends and $100.0 million in share buybacks, 113% of free cash flow. The share count fell 22.1% from 148.4M to 115.6M over 9 years.
See the EMN income statement, the EMN chart for price history, or the EMN stock overview for the latest quote and news.
EMN key metrics FAQ
What is Eastman Chemical's P/E ratio?
Eastman Chemical's trailing P/E ratio is 16.3 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.2. At the end of fiscal 2025 it was 15.6, compared with a 10-year median of 12.9.
What is Eastman Chemical's EV/EBITDA?
Eastman Chemical's enterprise value was 9.2 times EBITDA at the end of fiscal 2025 (enterprise value $11.9 billion, EBITDA $1.3 billion); the current EV/EBITDA is 9.5.
What is Eastman Chemical's return on equity?
Eastman Chemical's return on equity (ROE) was 8.1% in fiscal 2025: net income of $474.0 million on average shareholders' equity of $5.9 billion.
What is Eastman Chemical's ROIC?
Eastman Chemical's return on invested capital was 7.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Eastman Chemical have?
Eastman Chemical had total debt of $5.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.85 and $4.5 billion of net debt (3.50 times EBITDA).
What is Eastman Chemical's dividend yield?
Eastman Chemical's forward dividend yield is 5.39%. Eastman Chemical paid $381.0 million in dividends in fiscal 2025 ($3.30 per share), a payout ratio of 80.4%.
Does Eastman Chemical buy back its shares?
Yes. Eastman Chemical spent $100.0 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.0% over the year, to 115.6M..
What is Eastman Chemical's free cash flow yield?
Eastman Chemical generated $424.0 million of free cash flow in fiscal 2025, a free cash flow yield of 5.7% on its market value at year-end ($7.4 billion).
What is Eastman Chemical's current ratio?
Eastman Chemical's current ratio was 1.37 at the end of fiscal 2025: current assets were 1.37 times current liabilities.