Eastman Chemical (EMN) Financials

$73.81 -0.43 (-0.57%)

Closing price 05/13/2026 03:59 PM Eastern

Extended Trading

$73.76 -0.05 (-0.07%)

As of 09:15 AM Eastern

Annual Income Statements for Eastman Chemical

This table shows Eastman Chemical's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	848	854	1,384	1,080	759	478	857	793	894	905	474
Consolidated Net Income / (Loss)	854	859	1,388	1,084	762	489	867	796	896	908	475
Net Income / (Loss) Continuing Operations	854	859	1,388	1,084	762	489	867	796	896	908	475
Total Pre-Tax Income	1,129	1,049	1,289	1,310	902	530	1,082	977	1,087	1,078	568
Total Operating Income	1,384	1,382	1,399	1,478	1,120	868	1,281	1,159	1,302	1,278	776
Total Gross Profit	2,580	2,357	2,363	2,479	2,234	1,975	2,500	2,137	2,061	2,290	1,844
Total Revenue	9,648	9,008	9,549	10,151	9,273	8,473	10,476	10,580	9,210	9,382	8,752
Operating Revenue	9,648	9,008	9,549	10,151	9,273	8,473	10,476	10,580	9,210	9,382	8,752
Total Cost of Revenue	7,068	6,651	7,186	7,672	7,039	6,498	7,976	8,443	7,149	7,092	6,908
Operating Cost of Revenue	7,068	6,651	7,186	7,672	7,039	6,498	7,976	8,443	7,149	7,092	6,908
Total Operating Expenses	1,196	975	964	1,001	1,111	1,107	1,096	935	1,082	1,012	1,068
Selling, General & Admin Expense	771	707	729	721	691	654	795	726	727	736	658
Research & Development Expense	242	223	227	235	234	226	254	264	239	250	255
Other Operating Expenses / (Income)	-	-	-	-	63	-	-	-6.00	38	47	84
Restructuring Charge	183	45	8.00	45	126	227	47	-49	78	-21	71
Total Other Income / (Expense), net	-255	-333	-110	-168	-218	-338	-322	-225	108	-200	-208
Interest Expense	263	340	241	242	218	211	199	182	215	200	208
Other Income / (Expense), net	8.00	7.00	131	74	0.00	-127	-123	-43	323	0.00	0.00
Income Tax Expense	275	190	-99	226	140	41	215	181	191	170	93
Net Income / (Loss) Attributable to Noncontrolling Interest	6.00	5.00	4.00	4.00	3.00	11	10	3.00	2.00	3.00	1.00
Basic Earnings per Share	$5.71	$5.80	$9.56	$7.65	$5.52	$3.53	$6.35	$6.42	$7.54	$7.75	$4.14
Weighted Average Basic Shares Outstanding	148.60M	147.30M	144.80M	15.43B	135.99M	271.72M	257.94M	237.59M	234.69M	115.17M	114.10M
Diluted Earnings per Share	$5.66	$5.75	$9.47	$7.56	$5.48	$3.50	$6.25	$6.35	$7.49	$7.67	$4.10
Weighted Average Diluted Shares Outstanding	148.60M	147.30M	144.80M	15.43B	135.99M	271.72M	257.94M	237.59M	234.69M	115.17M	114.10M
Weighted Average Basic & Diluted Shares Outstanding	148.60M	147.30M	144.80M	15.43B	135.99M	271.72M	257.94M	237.59M	234.69M	115.17M	114.10M
Cash Dividends to Common per Share	$1.66	$1.89	$2.09	$2.30	$2.52	$2.67	$2.83	$3.07	$3.18	$3.26	$3.33

This table shows Eastman Chemical's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	178	310	165	230	180	330	182	140	47	105	107
Consolidated Net Income / (Loss)	179	311	165	231	181	331	183	140	47	105	107
Net Income / (Loss) Continuing Operations	179	311	165	231	181	331	183	140	47	105	107
Total Pre-Tax Income	199	425	214	287	280	297	253	169	134	12	136
Total Operating Income	256	477	263	337	329	349	302	222	188	64	188
Total Gross Profit	484	464	532	599	605	554	567	506	433	338	431
Total Revenue	2,267	2,207	2,310	2,363	2,464	2,245	2,290	2,287	2,202	1,973	2,177
Operating Revenue	2,267	2,207	2,310	2,363	2,464	2,245	2,290	2,287	2,202	1,973	2,177
Total Cost of Revenue	1,783	1,743	1,778	1,764	1,859	1,691	1,723	1,781	1,769	1,635	1,746
Operating Cost of Revenue	1,783	1,743	1,778	1,764	1,859	1,691	1,723	1,781	1,769	1,635	1,746
Total Operating Expenses	228	310	269	262	276	205	265	284	245	274	243
Selling, General & Admin Expense	160	191	191	180	183	182	182	157	160	159	178
Research & Development Expense	60	57	59	60	65	66	67	67	63	58	60
Other Operating Expenses / (Income)	10	-2.00	13	26	3.00	5.00	8.00	49	3.00	24	13
Restructuring Charge	-2.00	64	6.00	-4.00	25	-48	8.00	11	19	33	-8.00
Total Other Income / (Expense), net	-57	271	-49	-50	-49	-52	-49	-53	-54	-52	-52
Interest Expense	57	52	49	50	49	52	49	53	54	52	52
Income Tax Expense	20	114	49	56	99	-34	70	29	87	-93	29
Net Income / (Loss) Attributable to Noncontrolling Interest	1.00	1.00	0.00	1.00	1.00	1.00	1.00	0.00	0.00	-	0.00
Basic Earnings per Share	$1.50	$2.63	$1.40	$1.96	$1.55	$2.84	$1.58	$1.22	$0.41	$0.93	$0.93
Weighted Average Basic Shares Outstanding	118.56M	234.69M	117.65M	116.86M	115.91M	115.17M	115.46M	114.83M	114.07M	114.10M	114.35M
Diluted Earnings per Share	$1.49	$2.61	$1.39	$1.94	$1.53	$2.81	$1.57	$1.20	$0.40	$0.93	$0.93
Weighted Average Diluted Shares Outstanding	118.56M	234.69M	117.65M	116.86M	115.91M	115.17M	115.46M	114.83M	114.07M	114.10M	114.35M
Weighted Average Basic & Diluted Shares Outstanding	118.56M	234.69M	117.65M	116.86M	115.91M	115.17M	115.46M	114.83M	114.07M	114.10M	114.35M
Cash Dividends to Common per Share	$0.79	-	$0.81	$0.81	$0.81	-	$0.83	$0.83	$0.83	-	$0.84

This table details how cash moves in and out of Eastman Chemical's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	79	-112	10	35	-22	360	-105	34	55	289	-271
Net Cash From Operating Activities	1,624	1,385	1,657	1,543	1,504	1,455	1,619	975	1,374	1,287	970
Net Cash From Continuing Operating Activities	1,624	1,385	1,657	1,543	1,504	1,455	1,619	975	1,374	1,287	970
Net Income / (Loss) Continuing Operations	854	859	1,388	1,084	762	489	867	796	896	908	475
Consolidated Net Income / (Loss)	854	859	1,388	1,084	762	489	867	796	896	908	475
Depreciation Expense	571	580	587	604	611	574	538	477	498	509	513
Non-Cash Adjustments To Reconcile Net Income	76	-138	-67	-21	134	338	279	-175	-209	-1.00	-55
Changes in Operating Assets and Liabilities, net	123	84	-251	-124	-3.00	54	-65	-123	189	-129	37
Net Cash From Investing Activities	-693	-655	-643	-463	-480	-394	-29	392	-432	-534	-462
Net Cash From Continuing Investing Activities	-693	-655	-643	-463	-480	-394	-29	392	-432	-534	-462
Purchase of Property, Plant & Equipment	-652	-626	-649	-528	-431	-396	-578	-611	-828	-599	-546
Acquisitions	-45	-26	-4.00	-3.00	-48	-1.00	-114	-1.00	-77	0.00	0.00
Sale of Property, Plant & Equipment	4.00	41	14	5.00	0.00	0.00	667	998	456	38	38
Other Investing Activities, net	0.00	-44	-4.00	63	-1.00	3.00	-4.00	6.00	17	27	46
Net Cash From Financing Activities	-844	-838	-1,006	-1,040	-1,043	-704	-1,690	-1,321	-888	-454	-797
Net Cash From Continuing Financing Activities	-844	-838	-1,006	-1,040	-1,043	-704	-1,690	-1,321	-888	-454	-797
Repayment of Debt	-755	-2,111	-1,044	-1,926	-765	-535	-315	-764	-1,158	-1,012	-562
Repurchase of Common Equity	-103	-145	-350	-400	-325	-60	-1,000	-1,002	-150	-300	-100
Payment of Dividends	-244	-280	-296	-318	-343	-358	-375	-381	-376	-379	-381
Issuance of Debt	250	1,698	684	1,604	390	249	0.00	826	796	1,237	246
Effect of Exchange Rate Changes	-8.00	-4.00	2.00	-5.00	-3.00	3.00	-5.00	-12	1.00	-10	18

This table details how cash moves in and out of Eastman Chemical's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	29	109	-49	15	108	215	-419	5.00	66	77	99
Net Cash From Operating Activities	514	452	-16	367	396	540	-167	233	402	502	-137
Net Cash From Continuing Operating Activities	514	452	-16	367	396	540	-167	233	402	502	-137
Net Income / (Loss) Continuing Operations	179	311	165	231	181	331	183	140	47	105	107
Consolidated Net Income / (Loss)	179	311	165	231	181	331	183	140	47	105	107
Depreciation Expense	120	118	127	126	127	129	126	127	129	131	131
Non-Cash Adjustments To Reconcile Net Income	14	-243	-97	48	59	-11	-123	20	15	33	-75
Changes in Operating Assets and Liabilities, net	201	266	-211	-38	29	91	-353	-54	211	233	-300
Net Cash From Investing Activities	-182	248	-179	-121	-102	-132	-131	-147	-137	-47	-104
Net Cash From Continuing Investing Activities	-182	248	-179	-121	-102	-132	-131	-147	-137	-47	-104
Purchase of Property, Plant & Equipment	-236	-175	-185	-117	-121	-175	-147	-150	-137	-112	-103
Acquisitions	2.00	-3.00	0.00	-	-	-	0.00	-	-	-	0.00
Other Investing Activities, net	30	8.00	6.00	-4.00	19	5.00	16	3.00	-	27	-1.00
Net Cash From Financing Activities	-299	-593	148	-227	-194	-181	-124	-90	-201	-382	341
Net Cash From Continuing Financing Activities	-299	-593	148	-227	-194	-181	-124	-90	-201	-382	341
Repayment of Debt	-1.00	-326	-499	-32	-494	13	-559	-4.00	-1.00	2.00	-157
Repurchase of Common Equity	-	-100	0.00	-	-100	-100	0.00	-50	-50	-	0.00
Payment of Dividends	-94	-94	-95	-95	-95	-94	-96	-95	-96	-94	-96
Issuance of Debt	-204	-73	742	-	495	-	531	59	-54	-290	594
Effect of Exchange Rate Changes	-4.00	2.00	-2.00	-	8.00	-12	3.00	9.00	2.00	4.00	-1.00

This table presents Eastman Chemical's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	15,580	15,457	10,325	15,995	16,008	16,083	15,519	14,667	14,633	15,213	14,859
Total Current Assets	2,878	2,866	191	3,365	3,321	3,541	4,646	3,778	3,481	4,101	3,645
Cash & Equivalents	293	181	191	226	204	564	459	493	548	837	566
Accounts Receivable	1,038	1,211	-	1,483	1,375	1,515	1,580	1,277	1,154	1,172	999
Inventories, net	1,479	1,404	-	1,583	1,662	1,379	1,504	1,894	1,683	1,988	1,980
Other Current Assets	68	70	-	73	80	83	1,103	114	96	104	100
Plant, Property, & Equipment, net	5,130	5,276	5,607	5,600	5,571	5,549	4,996	5,160	5,548	5,615	5,731
Plant, Property & Equipment, gross	11,234	11,699	-	12,731	13,081	13,531	12,680	12,942	13,574	13,985	14,507
Accumulated Depreciation	6,104	6,423	-	7,131	7,510	7,982	7,684	7,782	8,026	8,370	8,776
Total Noncurrent Assets	7,572	7,315	4,527	7,030	7,116	6,993	5,877	5,729	5,604	5,497	5,483
Goodwill	4,518	4,461	4,527	4,467	4,431	4,465	3,641	3,664	3,646	3,632	3,665
Intangible Assets	2,650	2,479	-	2,185	2,011	1,792	1,362	1,210	1,138	1,032	970
Other Noncurrent Operating Assets	404	375	-	378	674	736	874	855	820	833	848
Total Liabilities & Shareholders' Equity	15,580	15,457	6,593	15,995	16,008	16,083	15,519	14,667	14,633	15,213	14,859
Total Liabilities	11,559	10,849	0.00	10,117	9,976	9,975	9,731	9,431	9,103	9,361	8,822
Total Current Liabilities	2,056	1,795	0.00	1,851	1,789	2,038	2,971	3,251	2,576	2,708	2,652
Short-Term Debt	431	283	-	243	171	349	747	1,126	541	450	586
Accounts Payable	1,625	1,512	-	1,608	1,618	1,689	2,133	2,125	2,035	2,258	2,066
Total Noncurrent Liabilities	9,503	9,054	0.00	8,266	8,187	7,937	6,760	6,180	6,527	6,653	6,170
Long-Term Debt	6,577	6,311	-	5,925	5,611	5,269	4,412	4,025	4,305	4,567	4,201
Noncurrent Deferred & Payable Income Tax Liabilities	928	1,206	-	884	915	848	810	671	601	533	669
Noncurrent Employee Benefit Liabilities	1,297	1,018	-	925	1,016	1,143	811	628	667	630	409
Other Noncurrent Operating Liabilities	701	519	-	532	645	677	727	856	954	923	891
Total Equity & Noncontrolling Interests	4,021	4,608	6,593	5,878	6,032	6,108	5,788	5,236	5,530	5,852	6,037
Total Preferred & Common Equity	3,941	4,532	6,593	5,803	5,958	6,023	5,704	5,153	5,458	5,779	5,961
Total Common Equity	3,941	4,532	6,593	5,803	5,958	6,023	5,704	5,153	5,458	5,779	5,961
Common Stock	1,865	1,917	-	2,050	2,107	2,176	2,189	2,317	2,370	2,465	2,502
Retained Earnings	5,146	5,721	6,802	7,573	7,965	8,080	8,557	8,973	9,490	10,013	10,105
Treasury Stock	-2,680	-2,825	-	-3,575	-3,900	-3,960	-4,860	-5,932	-6,083	-6,385	-6,486
Accumulated Other Comprehensive Income / (Loss)	-390	-281	-209	-245	-214	-273	-182	-205	-319	-314	-160
Noncontrolling Interest	80	76	-	75	74	85	84	83	72	73	76

This table presents Eastman Chemical's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	14,771	14,594	14,633	14,748	14,945	15,060	15,213	14,971	15,219	14,979	15,222
Total Current Assets	3,671	3,567	3,481	3,638	3,842	3,937	4,101	3,901	4,021	3,787	4,056
Cash & Equivalents	410	439	548	499	514	622	837	418	423	489	665
Accounts Receivable	1,205	1,149	1,154	1,274	1,329	1,332	1,172	1,259	1,340	1,274	1,217
Inventories, net	1,960	1,721	1,683	1,769	1,900	1,904	1,988	2,116	2,151	1,937	2,078
Other Current Assets	96	258	96	96	99	79	104	108	107	87	96
Plant, Property, & Equipment, net	5,402	5,426	5,548	5,535	5,529	5,589	5,615	5,639	5,746	5,746	5,687
Plant, Property & Equipment, gross	13,361	13,382	13,574	13,651	13,717	13,916	13,985	14,130	14,361	14,454	14,550
Accumulated Depreciation	7,959	7,956	8,026	8,116	8,188	8,327	8,370	8,491	8,615	8,708	8,863
Total Noncurrent Assets	5,698	5,601	5,604	5,575	5,574	5,534	5,497	5,431	5,452	1,781	5,479
Goodwill	3,697	3,643	3,646	3,644	3,641	3,655	3,632	3,642	3,665	0.00	3,662
Intangible Assets	1,180	1,148	1,138	1,110	1,086	1,072	1,032	1,021	1,028	1,008	946
Other Noncurrent Operating Assets	821	810	820	821	847	807	833	768	759	773	871
Total Liabilities & Shareholders' Equity	14,771	14,594	14,633	14,748	14,945	15,060	15,213	14,971	15,219	14,979	15,222
Total Liabilities	9,419	9,170	9,103	9,140	9,246	9,332	9,361	9,027	9,313	9,136	9,136
Total Current Liabilities	2,787	2,615	2,576	2,618	2,741	2,590	2,708	2,269	2,387	2,156	2,768
Short-Term Debt	844	640	541	740	697	448	450	285	344	290	770
Accounts Payable	1,943	1,940	2,035	1,878	2,044	2,142	2,258	1,984	2,043	1,866	1,998
Total Noncurrent Liabilities	6,632	6,555	6,527	6,522	6,505	6,742	6,653	6,758	6,926	6,980	6,368
Long-Term Debt	4,593	4,580	4,305	4,340	4,336	4,606	4,567	4,736	4,782	4,785	4,450
Noncurrent Deferred & Payable Income Tax Liabilities	573	549	601	588	576	517	533	512	429	525	680
Noncurrent Employee Benefit Liabilities	622	611	667	663	655	652	630	624	620	607	400
Other Noncurrent Operating Liabilities	844	815	954	931	938	967	923	886	1,095	1,063	838
Total Equity & Noncontrolling Interests	5,352	5,424	5,530	5,608	5,699	5,728	5,852	5,944	5,906	5,843	6,086
Total Preferred & Common Equity	5,281	5,352	5,458	5,538	5,627	5,654	5,779	5,871	5,835	5,771	6,009
Total Common Equity	5,281	5,352	5,458	5,538	5,627	5,654	5,779	5,871	5,835	5,771	6,009
Common Stock	2,344	2,354	2,370	2,390	2,419	2,437	2,465	2,478	2,480	2,493	2,522
Retained Earnings	9,190	9,274	9,490	9,559	9,694	9,780	10,013	10,099	10,143	10,095	10,114
Treasury Stock	-5,982	-5,982	-6,083	-6,083	-6,184	-6,285	-6,385	-6,385	-6,435	-6,486	-6,486
Accumulated Other Comprehensive Income / (Loss)	-271	-294	-319	-328	-302	-278	-314	-321	-353	-331	-141
Noncontrolling Interest	71	72	72	70	72	74	73	73	71	72	77

This table displays calculated financial ratios and metrics derived from Eastman Chemical's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	1.27%	-6.63%	6.01%	6.30%	-8.65%	-8.63%	23.64%	0.99%	-12.95%	1.87%	-6.72%
EBITDA Growth	20.65%	0.31%	7.52%	1.84%	-19.71%	-24.03%	28.97%	-6.07%	33.27%	-15.83%	-27.87%
EBIT Growth	18.27%	-0.22%	10.15%	1.44%	-27.84%	-33.84%	56.28%	-3.63%	45.61%	-21.35%	-39.28%
NOPAT Growth	18.14%	8.10%	33.12%	-18.81%	-22.64%	-15.36%	28.17%	-8.01%	13.65%	0.30%	-39.72%
Net Income Growth	12.81%	0.59%	61.58%	-21.90%	-29.70%	-35.83%	77.30%	-8.19%	12.56%	1.34%	-47.69%
EPS Growth	13.88%	1.59%	64.70%	-20.17%	-27.51%	-36.13%	78.57%	1.60%	17.95%	2.40%	-46.55%
Operating Cash Flow Growth	13.33%	-14.72%	19.64%	-6.88%	-2.53%	-3.26%	11.27%	-39.78%	40.92%	-6.33%	-24.63%
Free Cash Flow Firm Growth	157.57%	-31.49%	182.68%	-119.34%	349.72%	8.02%	28.87%	1.23%	-30.08%	-23.42%	-51.52%
Invested Capital Growth	-1.73%	2.65%	-8.05%	16.64%	-1.78%	-3.86%	-5.22%	-6.48%	-0.67%	2.08%	2.25%
Revenue Q/Q Growth	-1.27%	-0.41%	1.86%	0.14%	-1.81%	-0.22%	5.10%	-2.94%	-1.77%	0.41%	-3.01%
EBITDA Q/Q Growth	9.85%	3.85%	-0.24%	-4.60%	-4.26%	0.15%	14.52%	-25.46%	47.02%	7.65%	-18.00%
EBIT Q/Q Growth	12.62%	5.39%	-0.52%	-6.62%	-6.12%	0.82%	25.87%	-32.57%	71.59%	9.98%	-26.86%
NOPAT Q/Q Growth	11.34%	5.61%	25.07%	-23.74%	-1.04%	16.19%	23.78%	-28.17%	33.21%	25.81%	-25.57%
Net Income Q/Q Growth	14.48%	-0.81%	36.75%	-29.61%	-1.04%	1.45%	66.41%	-32.20%	52.64%	2.25%	-32.24%
EPS Q/Q Growth	14.11%	-0.69%	37.25%	-28.95%	-1.26%	0.57%	68.01%	-29.83%	51.62%	2.68%	-31.44%
Operating Cash Flow Q/Q Growth	5.87%	-11.73%	18.27%	6.49%	-4.39%	-15.41%	1.50%	2.85%	-0.36%	7.34%	-3.77%
Free Cash Flow Firm Q/Q Growth	174.60%	-21.72%	357.22%	-159.84%	-10.03%	-11.88%	43.03%	-29.73%	78.94%	-6.75%	-90.09%
Invested Capital Q/Q Growth	-1.75%	0.95%	-12.62%	-4.89%	-4.04%	-1.84%	-4.48%	-1.76%	-4.02%	-1.26%	51.66%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	26.74%	26.17%	24.75%	24.42%	24.09%	23.31%	23.86%	20.20%	22.38%	24.41%	21.07%
EBITDA Margin	20.35%	21.86%	22.17%	21.24%	18.67%	15.52%	16.19%	15.06%	23.05%	19.05%	14.73%
Operating Margin	14.34%	15.34%	14.65%	14.56%	12.08%	10.24%	12.23%	10.95%	14.14%	13.62%	8.87%
EBIT Margin	14.43%	15.42%	16.02%	15.29%	12.08%	8.75%	11.05%	10.55%	17.64%	13.62%	8.87%
Profit (Net Income) Margin	8.85%	9.54%	14.54%	10.68%	8.22%	5.77%	8.28%	7.52%	9.73%	9.68%	5.43%
Tax Burden Percent	75.64%	81.89%	107.68%	82.75%	84.48%	92.26%	80.13%	81.47%	82.43%	84.23%	83.63%
Interest Burden Percent	81.11%	75.52%	84.25%	84.41%	80.54%	71.53%	93.44%	87.54%	66.89%	84.35%	73.20%
Effective Tax Rate	24.36%	18.11%	-7.68%	17.25%	15.52%	7.74%	19.87%	18.53%	17.57%	15.77%	16.37%
Return on Invested Capital (ROIC)	9.67%	10.40%	14.24%	11.14%	8.08%	7.03%	9.44%	9.22%	10.88%	10.84%	6.40%
ROIC Less NNEP Spread (ROIC-NNEP)	6.92%	6.25%	11.86%	8.21%	4.88%	1.17%	6.20%	6.09%	6.93%	6.87%	2.26%
Return on Net Nonoperating Assets (RNNOA)	12.78%	9.51%	10.54%	6.24%	4.72%	1.02%	5.13%	5.22%	5.76%	5.11%	1.59%
Return on Equity (ROE)	22.44%	19.91%	24.78%	17.38%	12.80%	8.06%	14.58%	14.44%	16.65%	15.96%	7.99%
Cash Return on Invested Capital (CROIC)	11.41%	7.78%	22.63%	-4.22%	9.87%	10.97%	14.81%	15.92%	11.55%	8.79%	4.17%
Operating Return on Assets (OROA)	8.80%	8.95%	11.87%	11.79%	7.00%	4.62%	7.33%	7.39%	11.09%	8.56%	5.16%
Return on Assets (ROA)	5.40%	5.54%	10.77%	8.24%	4.76%	3.05%	5.49%	5.27%	6.12%	6.08%	3.16%
Return on Common Equity (ROCE)	21.97%	19.55%	24.62%	17.28%	12.64%	7.95%	14.37%	14.22%	16.41%	15.75%	7.89%
Return on Equity Simple (ROE_SIMPLE)	21.67%	18.95%	21.05%	18.68%	12.79%	8.12%	15.20%	15.45%	16.42%	15.71%	0.00%
Net Operating Profit after Tax (NOPAT)	1,047	1,132	1,506	1,223	946	801	1,026	944	1,073	1,076	649
NOPAT Margin	10.85%	12.56%	15.78%	12.05%	10.20%	9.45%	9.80%	8.93%	11.65%	11.47%	7.41%
Net Nonoperating Expense Percent (NNEP)	2.75%	4.15%	2.38%	2.93%	3.20%	5.87%	3.24%	3.14%	3.96%	3.97%	4.14%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.09%	10.34%	9.90%	6.00%
Cost of Revenue to Revenue	73.26%	73.83%	75.25%	75.58%	75.91%	76.69%	76.14%	79.80%	77.62%	75.59%	78.93%
SG&A Expenses to Revenue	7.99%	7.85%	7.63%	7.10%	7.45%	7.72%	7.59%	6.86%	7.89%	7.84%	7.52%
R&D to Revenue	2.51%	2.48%	2.38%	2.32%	2.52%	2.67%	2.42%	2.50%	2.60%	2.66%	2.91%
Operating Expenses to Revenue	12.40%	10.82%	10.10%	9.86%	11.98%	13.07%	10.46%	8.84%	11.75%	10.79%	12.20%
Earnings before Interest and Taxes (EBIT)	1,392	1,389	1,530	1,552	1,120	741	1,158	1,116	1,625	1,278	776
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,963	1,969	2,117	2,156	1,731	1,315	1,696	1,593	2,123	1,787	1,289
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.97	1.94	1.65	1.48	1.56	2.03	2.63	1.76	1.89	1.83	1.22
Price to Tangible Book Value (P/TBV)	0.00	0.00	5.26	0.00	0.00	0.00	21.39	32.59	15.28	9.49	5.49
Price to Revenue (P/Rev)	0.81	0.98	1.14	0.84	1.00	1.44	1.43	0.86	1.12	1.13	0.83
Price to Earnings (P/E)	9.17	10.29	7.85	7.93	12.27	25.59	17.50	11.47	11.52	11.70	15.36
Dividend Yield	3.17%	3.16%	2.76%	3.76%	3.68%	2.96%	2.54%	4.05%	3.66%	3.57%	5.22%
Earnings Yield	10.91%	9.72%	12.74%	12.61%	8.15%	3.91%	5.72%	8.72%	8.68%	8.55%	6.51%
Enterprise Value to Invested Capital (EV/IC)	1.36	1.39	1.05	1.23	1.29	1.56	1.87	1.40	1.49	1.48	1.13
Enterprise Value to Revenue (EV/Rev)	1.51	1.70	1.12	1.44	1.61	2.05	1.89	1.31	1.59	1.58	1.32
Enterprise Value to EBITDA (EV/EBITDA)	7.42	7.76	5.04	6.76	8.65	13.21	11.66	8.68	6.91	8.30	8.98
Enterprise Value to EBIT (EV/EBIT)	10.47	11.00	6.98	9.40	13.36	23.44	17.08	12.40	9.03	11.61	14.92
Enterprise Value to NOPAT (EV/NOPAT)	13.92	13.50	7.09	11.92	15.82	21.69	19.27	14.65	13.67	13.78	17.84
Enterprise Value to Operating Cash Flow (EV/OCF)	8.97	11.03	6.44	9.45	9.95	11.94	12.22	14.19	10.68	11.53	11.94
Enterprise Value to Free Cash Flow (EV/FCFF)	11.79	18.04	4.46	0.00	12.95	13.91	12.29	8.49	12.88	17.01	27.38
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.74	1.43	0.00	1.05	0.96	0.92	0.89	0.98	0.88	0.86	0.79
Long-Term Debt to Equity	1.64	1.37	0.00	1.01	0.93	0.86	0.76	0.77	0.78	0.78	0.70
Financial Leverage	1.85	1.52	0.89	0.76	0.97	0.88	0.83	0.86	0.83	0.74	0.71
Leverage Ratio	4.16	3.60	2.30	2.11	2.69	2.64	2.66	2.74	2.72	2.62	2.53
Compound Leverage Factor	3.37	2.72	1.94	1.78	2.16	1.89	2.48	2.40	1.82	2.21	1.85
Debt to Total Capital	63.54%	58.86%	0.00%	51.20%	48.94%	47.91%	47.13%	49.59%	46.70%	46.16%	44.23%
Short-Term Debt to Total Capital	3.91%	2.53%	0.00%	2.02%	1.45%	2.98%	6.82%	10.84%	5.21%	4.14%	5.41%
Long-Term Debt to Total Capital	59.63%	56.34%	0.00%	49.19%	47.49%	44.93%	40.30%	38.75%	41.49%	42.02%	38.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.73%	0.68%	0.00%	0.62%	0.63%	0.72%	0.77%	0.80%	0.69%	0.67%	0.70%
Common Equity to Total Capital	35.73%	40.46%	100.00%	48.17%	50.43%	51.36%	52.11%	49.61%	52.60%	53.17%	55.07%
Debt to EBITDA	3.57	3.35	0.00	2.86	3.34	4.27	3.04	3.23	2.28	2.81	3.71
Net Debt to EBITDA	3.42	3.26	0.00	2.76	3.22	3.84	2.77	2.92	2.02	2.34	3.27
Long-Term Debt to EBITDA	3.35	3.21	0.00	2.75	3.24	4.01	2.60	2.53	2.03	2.56	3.26
Debt to NOPAT	6.69	5.83	0.00	5.04	6.11	7.02	5.03	5.45	4.52	4.66	7.38
Net Debt to NOPAT	6.41	5.67	0.00	4.86	5.90	6.31	4.58	4.93	4.00	3.88	6.50
Long-Term Debt to NOPAT	6.28	5.58	0.00	4.84	5.93	6.58	4.30	4.26	4.01	4.24	6.47
Altman Z-Score	1.84	1.97	0.00	2.24	2.18	2.23	2.75	2.45	2.66	2.60	2.29
Noncontrolling Interest Sharing Ratio	2.10%	1.81%	0.68%	0.60%	1.25%	1.31%	1.42%	1.51%	1.44%	1.27%	1.25%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.40	1.60	0.00	1.82	1.86	1.74	1.56	1.16	1.35	1.51	1.37
Quick Ratio	0.65	0.78	0.00	0.92	0.88	1.02	0.69	0.54	0.66	0.74	0.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,236	847	2,393	-463	1,156	1,249	1,609	1,629	1,139	872	423
Operating Cash Flow to CapEx	250.62%	236.75%	260.94%	295.03%	348.96%	367.42%	0.00%	0.00%	369.35%	229.41%	190.94%
Free Cash Flow to Firm to Interest Expense	4.70	2.49	9.93	-1.91	5.30	5.92	8.09	8.95	5.30	4.36	2.03
Operating Cash Flow to Interest Expense	6.17	4.07	6.88	6.38	6.90	6.90	8.14	5.36	6.39	6.44	4.66
Operating Cash Flow Less CapEx to Interest Expense	3.71	2.35	4.24	4.21	4.92	5.02	8.58	7.48	4.66	3.63	2.22
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.61	0.58	0.74	0.77	0.58	0.53	0.66	0.70	0.63	0.63	0.58
Accounts Receivable Turnover	8.62	8.01	0.00	0.00	6.49	5.86	6.77	7.41	7.58	8.07	8.06
Inventory Turnover	4.73	4.61	0.00	0.00	4.34	4.27	5.53	4.97	4.00	3.86	3.48
Fixed Asset Turnover	1.89	1.73	1.75	1.81	1.66	1.52	1.99	2.08	1.72	1.68	1.54
Accounts Payable Turnover	4.22	4.24	0.00	0.00	4.36	3.93	4.17	3.97	3.44	3.30	3.20
Days Sales Outstanding (DSO)	42.33	45.56	0.00	0.00	56.25	62.25	53.92	49.28	48.17	45.25	45.27
Days Inventory Outstanding (DIO)	77.15	79.11	0.00	0.00	84.13	85.41	65.97	73.45	91.31	94.47	104.83
Days Payable Outstanding (DPO)	86.40	86.08	0.00	0.00	83.64	92.88	87.45	92.04	106.20	110.47	114.23
Cash Conversion Cycle (CCC)	33.09	38.59	0.00	0.00	56.74	54.78	32.43	30.69	33.29	29.24	35.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,736	11,021	10,134	11,820	11,610	11,162	10,579	9,894	9,828	10,032	10,258
Invested Capital Turnover	0.89	0.83	0.90	0.92	0.79	0.74	0.96	1.03	0.93	0.94	0.86
Increase / (Decrease) in Invested Capital	-189	285	-887	1,686	-210	-448	-583	-685	-66	204	226
Enterprise Value (EV)	14,571	15,275	10,677	14,583	14,968	17,369	19,779	13,833	14,671	14,838	11,578
Market Capitalization	7,776	8,786	10,868	8,566	9,316	12,230	14,995	9,092	10,301	10,585	7,281
Book Value per Share	$26.52	$30.88	$45.87	$41.44	$43.82	$44.46	$42.43	$42.95	$46.03	$49.86	$52.26
Tangible Book Value per Share	($21.71)	($16.41)	$14.37	($6.06)	($3.56)	($1.73)	$5.21	$2.33	$5.68	$9.62	$11.62
Total Capital	11,029	11,202	6,593	12,046	11,814	11,726	10,947	10,387	10,376	10,869	10,824
Total Debt	7,008	6,594	0.00	6,168	5,782	5,618	5,159	5,151	4,846	5,017	4,787
Total Long-Term Debt	6,577	6,311	0.00	5,925	5,611	5,269	4,412	4,025	4,305	4,567	4,201
Net Debt	6,715	6,413	-191	5,942	5,578	5,054	4,700	4,658	4,298	4,180	4,221
Capital Expenditures (CapEx)	648	585	635	523	431	396	-89	-387	372	561	508
Debt-free, Cash-free Net Working Capital (DFCFNWC)	960	1,173	0.00	1,531	1,499	1,288	1,963	1,160	898	1,006	1,013
Debt-free Net Working Capital (DFNWC)	1,253	1,354	191	1,757	1,703	1,852	2,422	1,653	1,446	1,843	1,579
Net Working Capital (NWC)	822	1,071	191	1,514	1,532	1,503	1,675	527	905	1,393	993
Net Nonoperating Expense (NNE)	193	273	118	139	184	312	159	148	177	168	174
Net Nonoperating Obligations (NNO)	6,715	6,413	3,541	5,942	5,578	5,054	4,791	4,658	4,298	4,180	4,221
Total Depreciation and Amortization (D&A)	571	580	587	604	611	574	538	477	498	509	513
Debt-free, Cash-free Net Working Capital to Revenue	9.95%	13.02%	0.00%	15.08%	16.17%	15.20%	18.74%	10.96%	9.75%	10.72%	11.57%
Debt-free Net Working Capital to Revenue	12.99%	15.03%	2.00%	17.31%	18.37%	21.86%	23.12%	15.62%	15.70%	19.64%	18.04%
Net Working Capital to Revenue	8.52%	11.89%	2.00%	14.91%	16.52%	17.74%	15.99%	4.98%	9.83%	14.85%	11.35%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$5.71	$5.80	$9.56	$7.65	$5.52	$3.53	$6.35	$6.42	$7.54	$7.75	$4.14
Adjusted Weighted Average Basic Shares Outstanding	147.81M	146.49M	142.97M	139.78M	135.99M	271.72M	257.94M	237.59M	234.69M	115.17M	114.10M
Adjusted Diluted Earnings per Share	$5.66	$5.75	$9.47	$7.56	$5.48	$3.50	$6.25	$6.35	$7.49	$7.67	$4.10
Adjusted Weighted Average Diluted Shares Outstanding	147.81M	146.49M	142.97M	139.78M	135.99M	271.72M	257.94M	237.59M	234.69M	115.17M	114.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	147.81M	146.49M	142.97M	139.78M	135.99M	271.72M	257.94M	237.59M	234.69M	115.17M	114.10M
Normalized Net Operating Profit after Tax (NOPAT)	1,185	1,169	985	1,260	1,053	1,010	1,064	904	1,138	1,059	708
Normalized NOPAT Margin	12.29%	12.97%	10.31%	12.42%	11.35%	11.92%	10.16%	8.55%	12.35%	11.29%	8.09%
Pre Tax Income Margin	11.70%	11.65%	13.50%	12.91%	9.73%	6.26%	10.33%	9.23%	11.80%	11.49%	6.49%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	5.29	4.09	6.35	6.41	5.14	3.51	5.82	6.13	7.56	6.39	3.73
NOPAT to Interest Expense	3.98	3.33	6.25	5.05	4.34	3.80	5.16	5.19	4.99	5.38	3.12
EBIT Less CapEx to Interest Expense	2.83	2.36	3.71	4.25	3.16	1.64	6.27	8.26	5.83	3.59	1.29
NOPAT Less CapEx to Interest Expense	1.52	1.61	3.62	2.89	2.36	1.92	5.61	7.31	3.26	2.58	0.68
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	28.57%	32.60%	21.33%	29.34%	45.01%	73.21%	43.25%	47.86%	41.96%	41.74%	80.21%
Augmented Payout Ratio	40.63%	49.48%	46.54%	66.24%	87.66%	85.48%	158.59%	173.74%	58.71%	74.78%	101.26%

This table displays calculated financial ratios and metrics derived from Eastman Chemical's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	114,349,960.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	114,349,960.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.94
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-16.32%	-7.00%	-4.23%	1.68%	8.69%	1.72%	-0.87%	-3.22%	-10.63%	-12.12%	-4.93%
EBITDA Growth	-14.74%	148.95%	0.78%	4.75%	21.28%	-19.66%	9.74%	-24.62%	-30.48%	-59.21%	-25.47%
EBIT Growth	-20.99%	290.98%	6.91%	4.33%	28.52%	-26.83%	14.83%	-34.12%	-42.86%	-81.66%	-37.75%
NOPAT Growth	-33.65%	3,905.51%	19.34%	-16.95%	-7.64%	11.43%	7.72%	-32.20%	-68.99%	43.98%	-32.29%
Net Income Growth	-40.53%	15,450.00%	23.13%	-15.07%	1.12%	6.43%	10.91%	-39.39%	-74.03%	-68.28%	-41.53%
EPS Growth	-39.43%	4,250.00%	24.11%	-14.54%	2.68%	7.66%	12.95%	-38.14%	-73.86%	-66.90%	-40.76%
Operating Cash Flow Growth	100.78%	-1.09%	-700.00%	-10.49%	-22.96%	19.47%	-943.75%	-36.51%	1.52%	-7.04%	17.96%
Free Cash Flow Firm Growth	-95.46%	-40.17%	-59.60%	491.53%	377.67%	-55.44%	-142.71%	-147.91%	1,082.86%	80.59%	138.63%
Invested Capital Growth	1.68%	-0.67%	-1.20%	-1.55%	-0.78%	2.08%	3.51%	3.83%	-33.43%	2.25%	0.89%
Revenue Q/Q Growth	-2.45%	-2.65%	4.67%	2.29%	4.27%	-8.89%	2.00%	-0.13%	-3.72%	-10.40%	10.34%
EBITDA Q/Q Growth	-14.93%	58.24%	11.11%	18.72%	-1.51%	4.82%	-10.46%	-18.46%	-9.17%	-38.49%	63.59%
EBIT Q/Q Growth	-20.74%	86.33%	12.88%	28.14%	-2.37%	6.08%	-13.47%	-26.49%	-15.32%	-65.96%	193.75%
NOPAT Q/Q Growth	-29.49%	51.58%	18.93%	33.76%	-21.59%	82.89%	-43.84%	-15.81%	-64.14%	749.25%	-73.59%
Net Income Q/Q Growth	-34.19%	73.74%	-46.95%	40.00%	-21.65%	82.87%	-44.71%	-23.50%	-66.43%	123.40%	1.90%
EPS Q/Q Growth	-34.36%	75.17%	-46.74%	39.57%	-21.13%	83.66%	-44.13%	-23.57%	-66.67%	132.50%	0.00%
Operating Cash Flow Q/Q Growth	25.37%	-12.06%	-103.54%	2,393.75%	7.90%	36.36%	-130.93%	239.52%	72.53%	24.88%	-127.29%
Free Cash Flow Firm Q/Q Growth	155.50%	577.40%	38.17%	32.27%	-32.29%	-36.81%	-175.46%	-48.39%	1,771.67%	-90.35%	-83.86%
Invested Capital Q/Q Growth	-1.34%	-4.02%	3.67%	0.28%	-0.57%	-1.26%	5.13%	0.59%	-36.24%	51.66%	3.73%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	21.35%	21.02%	23.03%	25.35%	24.55%	24.68%	24.76%	22.13%	19.66%	17.13%	19.80%
EBITDA Margin	16.59%	26.96%	16.88%	19.59%	18.51%	21.29%	18.69%	15.26%	14.40%	9.88%	14.65%
Operating Margin	11.29%	21.61%	11.39%	14.26%	13.35%	15.55%	13.19%	9.71%	8.54%	3.24%	8.64%
EBIT Margin	11.29%	21.61%	11.39%	14.26%	13.35%	15.55%	13.19%	9.71%	8.54%	3.24%	8.64%
Profit (Net Income) Margin	7.90%	14.09%	7.14%	9.78%	7.35%	14.74%	7.99%	6.12%	2.13%	5.32%	4.92%
Tax Burden Percent	89.95%	73.18%	77.10%	80.49%	64.64%	111.45%	72.33%	82.84%	35.07%	875.00%	78.68%
Interest Burden Percent	77.73%	89.10%	81.37%	85.16%	85.11%	85.10%	83.77%	76.13%	71.28%	18.75%	72.34%
Effective Tax Rate	10.05%	26.82%	22.90%	19.51%	35.36%	-11.45%	27.67%	17.16%	64.93%	-775.00%	21.32%
Return on Invested Capital (ROIC)	9.38%	14.77%	7.80%	10.20%	7.91%	16.37%	8.61%	7.17%	3.19%	24.49%	5.54%
ROIC Less NNEP Spread (ROIC-NNEP)	8.29%	13.92%	7.02%	9.35%	7.22%	15.00%	7.84%	6.22%	2.49%	13.65%	4.65%
Return on Net Nonoperating Assets (RNNOA)	7.17%	11.58%	6.22%	8.08%	5.99%	11.17%	6.23%	4.94%	1.15%	9.65%	3.54%
Return on Equity (ROE)	16.55%	26.35%	14.02%	18.27%	13.90%	27.54%	14.85%	12.11%	4.34%	34.13%	9.08%
Cash Return on Invested Capital (CROIC)	6.27%	11.55%	9.99%	9.89%	9.17%	8.79%	7.08%	5.89%	50.44%	4.17%	4.64%
Operating Return on Assets (OROA)	7.16%	13.59%	6.98%	8.78%	8.41%	9.77%	8.31%	5.98%	5.13%	1.89%	4.94%
Return on Assets (ROA)	5.01%	8.86%	4.38%	6.02%	4.63%	9.27%	5.03%	3.77%	1.28%	3.10%	2.81%
Return on Common Equity (ROCE)	16.31%	25.97%	13.83%	18.04%	13.71%	27.19%	14.66%	11.96%	4.29%	33.71%	8.96%
Return on Equity Simple (ROE_SIMPLE)	10.97%	0.00%	16.74%	15.75%	15.71%	0.00%	15.77%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	230	349	203	271	213	389	218	184	66	560	148
NOPAT Margin	10.16%	15.82%	8.78%	11.48%	8.63%	17.33%	9.54%	8.04%	2.99%	28.38%	6.79%
Net Nonoperating Expense Percent (NNEP)	1.09%	0.85%	0.78%	0.84%	0.69%	1.37%	0.77%	0.95%	0.71%	10.83%	0.89%
Return On Investment Capital (ROIC_SIMPLE)	-	3.36%	-	-	-	3.58%	1.99%	1.67%	0.60%	5.17%	1.31%
Cost of Revenue to Revenue	78.65%	78.98%	76.97%	74.65%	75.45%	75.32%	75.24%	77.87%	80.34%	82.87%	80.20%
SG&A Expenses to Revenue	7.06%	8.65%	8.27%	7.62%	7.43%	8.11%	7.95%	6.86%	7.27%	8.06%	8.18%
R&D to Revenue	2.65%	2.58%	2.55%	2.54%	2.64%	2.94%	2.93%	2.93%	2.86%	2.94%	2.76%
Operating Expenses to Revenue	10.06%	14.05%	11.65%	11.09%	11.20%	9.13%	11.57%	12.42%	11.13%	13.89%	11.16%
Earnings before Interest and Taxes (EBIT)	256	477	263	337	329	349	302	222	188	64	188
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	376	595	390	463	456	478	428	349	317	195	319
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.64	1.89	2.15	2.05	2.31	1.83	1.73	1.48	1.25	1.22	1.45
Price to Tangible Book Value (P/TBV)	15.67	15.28	15.16	12.81	14.11	9.49	8.40	7.55	1.52	5.49	6.22
Price to Revenue (P/Rev)	0.94	1.12	1.30	1.26	1.40	1.13	1.08	0.93	0.80	0.83	1.01
Price to Earnings (P/E)	15.03	11.52	12.85	13.05	14.78	11.70	11.01	10.36	10.36	15.36	21.82
Dividend Yield	4.26%	3.66%	3.19%	3.29%	2.89%	3.57%	3.72%	4.42%	5.27%	5.22%	4.38%
Earnings Yield	6.65%	8.68%	7.78%	7.66%	6.76%	8.55%	9.09%	9.65%	9.65%	6.51%	4.58%
Enterprise Value to Invested Capital (EV/IC)	1.33	1.49	1.62	1.58	1.73	1.48	1.41	1.26	1.76	1.13	1.25
Enterprise Value to Revenue (EV/Rev)	1.46	1.59	1.82	1.76	1.88	1.58	1.58	1.44	1.32	1.32	1.54
Enterprise Value to EBITDA (EV/EBITDA)	9.45	6.91	10.61	10.20	10.60	8.30	8.12	7.83	7.57	8.98	11.31
Enterprise Value to EBIT (EV/EBIT)	14.41	9.03	15.38	14.80	15.14	11.61	11.26	11.14	11.21	14.92	20.15
Enterprise Value to NOPAT (EV/NOPAT)	16.94	13.67	18.37	18.79	20.56	13.78	13.58	13.33	13.65	17.84	22.78
Enterprise Value to Operating Cash Flow (EV/OCF)	9.90	10.68	12.16	12.24	14.67	11.53	13.05	13.37	11.80	11.94	13.34
Enterprise Value to Free Cash Flow (EV/FCFF)	21.43	12.88	16.14	15.82	18.80	17.01	20.20	21.83	2.79	27.38	27.13
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.96	0.88	0.91	0.88	0.88	0.86	0.84	0.87	0.87	0.79	0.86
Long-Term Debt to Equity	0.84	0.78	0.77	0.76	0.80	0.78	0.80	0.81	0.82	0.70	0.73
Financial Leverage	0.86	0.83	0.89	0.86	0.83	0.74	0.80	0.79	0.46	0.71	0.76
Leverage Ratio	2.72	2.72	2.74	2.69	2.66	2.62	2.57	2.60	2.60	2.53	2.51
Compound Leverage Factor	2.11	2.42	2.23	2.29	2.26	2.23	2.16	1.98	1.85	0.47	1.82
Debt to Total Capital	49.04%	46.70%	47.53%	46.90%	46.87%	46.16%	45.79%	46.46%	46.48%	44.23%	46.17%
Short-Term Debt to Total Capital	6.01%	5.21%	6.92%	6.49%	4.16%	4.14%	2.60%	3.12%	2.66%	5.41%	6.81%
Long-Term Debt to Total Capital	43.03%	41.49%	40.61%	40.40%	42.72%	42.02%	43.19%	43.35%	43.83%	38.81%	39.36%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.68%	0.69%	0.65%	0.67%	0.69%	0.67%	0.67%	0.64%	0.66%	0.70%	0.68%
Common Equity to Total Capital	50.28%	52.60%	51.82%	52.43%	52.44%	53.17%	53.54%	52.89%	52.86%	55.07%	53.15%
Debt to EBITDA	3.62	2.28	3.26	3.19	3.04	2.81	2.75	3.00	3.23	3.71	4.42
Net Debt to EBITDA	3.31	2.02	2.94	2.86	2.67	2.34	2.52	2.75	2.92	3.27	3.86
Long-Term Debt to EBITDA	3.17	2.03	2.78	2.74	2.77	2.56	2.60	2.79	3.04	3.26	3.77
Debt to NOPAT	6.48	4.52	5.64	5.87	5.91	4.66	4.60	5.10	5.82	7.38	8.91
Net Debt to NOPAT	5.93	4.00	5.09	5.27	5.18	3.88	4.22	4.68	5.26	6.50	7.78
Long-Term Debt to NOPAT	5.68	4.01	4.82	5.06	5.38	4.24	4.34	4.76	5.49	6.47	7.60
Altman Z-Score	2.24	2.40	2.45	2.43	2.55	2.40	2.44	2.28	2.19	2.13	2.21
Noncontrolling Interest Sharing Ratio	1.42%	1.44%	1.32%	1.29%	1.31%	1.27%	1.24%	1.23%	1.26%	1.25%	1.25%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.36	1.35	1.39	1.40	1.52	1.51	1.72	1.68	1.76	1.37	1.47
Quick Ratio	0.61	0.66	0.68	0.67	0.75	0.74	0.74	0.74	0.82	0.59	0.68
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	61	415	327	432	293	185	-140	-207	3,462	334	54
Operating Cash Flow to CapEx	217.80%	258.29%	-8.60%	313.68%	327.27%	308.57%	-113.61%	155.33%	293.43%	448.21%	-133.01%
Free Cash Flow to Firm to Interest Expense	1.07	7.98	6.67	8.64	5.97	3.56	-2.85	-3.91	64.11	6.42	1.04
Operating Cash Flow to Interest Expense	9.02	8.69	-0.33	7.34	8.08	10.38	-3.41	4.40	7.44	9.65	-2.63
Operating Cash Flow Less CapEx to Interest Expense	4.88	5.33	-4.12	5.00	5.61	7.02	-6.41	1.57	4.91	7.50	-4.62
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.63	0.63	0.61	0.62	0.63	0.63	0.63	0.62	0.60	0.58	0.57
Accounts Receivable Turnover	6.84	7.58	6.98	7.22	7.53	8.07	7.39	6.96	6.93	8.06	6.98
Inventory Turnover	4.01	4.00	3.79	3.66	3.94	3.86	3.62	3.48	3.63	3.48	3.31
Fixed Asset Turnover	1.80	1.72	1.69	1.67	1.70	1.68	1.68	1.65	1.59	1.54	1.53
Accounts Payable Turnover	3.65	3.44	3.67	3.55	3.50	3.30	3.64	3.45	3.48	3.20	3.48
Days Sales Outstanding (DSO)	53.39	48.17	52.32	50.56	48.46	45.25	49.38	52.45	52.70	45.27	52.31
Days Inventory Outstanding (DIO)	91.11	91.31	96.20	99.67	92.60	94.47	100.75	104.81	100.66	104.83	110.43
Days Payable Outstanding (DPO)	100.11	106.20	99.36	102.95	104.28	110.47	100.16	105.74	105.03	114.23	104.85
Cash Conversion Cycle (CCC)	44.39	33.29	49.16	47.28	36.78	29.24	49.97	51.52	48.33	35.87	57.89
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	10,240	9,828	10,189	10,218	10,160	10,032	10,547	10,609	6,764	10,258	10,641
Invested Capital Turnover	0.92	0.93	0.89	0.89	0.92	0.94	0.90	0.89	1.07	0.86	0.82
Increase / (Decrease) in Invested Capital	169	-66	-124	-161	-80	204	358	391	-3,396	226	94
Enterprise Value (EV)	13,646	14,671	16,533	16,117	17,589	14,838	14,823	13,394	11,898	11,578	13,340
Market Capitalization	8,793	10,301	11,882	11,526	13,083	10,585	10,147	8,620	7,240	7,281	8,708
Book Value per Share	$45.14	$46.03	$47.07	$47.83	$48.38	$49.86	$50.98	$50.54	$50.26	$52.26	$52.67
Tangible Book Value per Share	$4.73	$5.68	$6.66	$7.65	$7.93	$9.62	$10.49	$9.89	$41.48	$11.62	$12.28
Total Capital	10,644	10,376	10,688	10,732	10,782	10,869	10,965	11,032	10,918	10,824	11,306
Total Debt	5,220	4,846	5,080	5,033	5,054	5,017	5,021	5,126	5,075	4,787	5,220
Total Long-Term Debt	4,580	4,305	4,340	4,336	4,606	4,567	4,736	4,782	4,785	4,201	4,450
Net Debt	4,781	4,298	4,581	4,519	4,432	4,180	4,603	4,703	4,586	4,221	4,555
Capital Expenditures (CapEx)	236	175	186	117	121	175	147	150	137	112	103
Debt-free, Cash-free Net Working Capital (DFCFNWC)	1,153	898	1,261	1,284	1,173	1,006	1,499	1,555	1,432	1,013	1,393
Debt-free Net Working Capital (DFNWC)	1,592	1,446	1,760	1,798	1,795	1,843	1,917	1,978	1,921	1,579	2,058
Net Working Capital (NWC)	952	905	1,020	1,101	1,347	1,393	1,632	1,634	1,631	993	1,288
Net Nonoperating Expense (NNE)	51	38	38	40	32	58	35	44	19	455	41
Net Nonoperating Obligations (NNO)	4,816	4,298	4,581	4,519	4,432	4,180	4,603	4,703	921	4,221	4,555
Total Depreciation and Amortization (D&A)	120	118	127	126	127	129	126	127	129	131	131
Debt-free, Cash-free Net Working Capital to Revenue	12.30%	9.75%	13.85%	14.04%	12.55%	10.72%	16.01%	16.75%	15.87%	11.57%	16.12%
Debt-free Net Working Capital to Revenue	16.98%	15.70%	19.32%	19.66%	19.21%	19.64%	20.48%	21.30%	21.29%	18.04%	23.82%
Net Working Capital to Revenue	10.15%	9.83%	11.20%	12.04%	14.42%	14.85%	17.43%	17.60%	18.07%	11.35%	14.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.50	$2.63	$1.40	$1.96	$1.55	$2.84	$1.58	$1.22	$0.41	$0.93	$0.93
Adjusted Weighted Average Basic Shares Outstanding	118.56M	234.69M	117.65M	116.86M	115.91M	115.17M	115.46M	114.83M	114.07M	114.10M	114.35M
Adjusted Diluted Earnings per Share	$1.49	$2.61	$1.39	$1.94	$1.53	$2.81	$1.57	$1.20	$0.40	$0.93	$0.93
Adjusted Weighted Average Diluted Shares Outstanding	118.56M	234.69M	117.65M	116.86M	115.91M	115.17M	115.46M	114.83M	114.07M	114.10M	114.35M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	118.56M	234.69M	117.65M	116.86M	115.91M	115.17M	115.46M	114.83M	114.07M	114.10M	114.35M
Normalized Net Operating Profit after Tax (NOPAT)	228	396	207	268	229	211	224	193	145	68	142
Normalized NOPAT Margin	10.08%	17.94%	8.98%	11.34%	9.29%	9.39%	9.79%	8.44%	6.58%	3.44%	6.51%
Pre Tax Income Margin	8.78%	19.26%	9.26%	12.15%	11.36%	13.23%	11.05%	7.39%	6.09%	0.61%	6.25%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.49	9.17	5.37	6.74	6.71	6.71	6.16	4.19	3.48	1.23	3.62
NOPAT to Interest Expense	4.04	6.71	4.14	5.42	4.34	7.48	4.46	3.47	1.22	10.77	2.84
EBIT Less CapEx to Interest Expense	0.35	5.81	1.57	4.40	4.24	3.35	3.16	1.36	0.94	-0.92	1.63
NOPAT Less CapEx to Interest Expense	-0.10	3.35	0.34	3.08	1.87	4.11	1.46	0.64	-1.32	8.62	0.86
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	63.54%	41.96%	40.67%	42.66%	42.68%	41.74%	41.04%	45.51%	54.35%	80.21%	95.49%
Augmented Payout Ratio	89.10%	58.71%	40.67%	65.24%	76.46%	74.78%	73.43%	75.45%	82.88%	101.26%	120.55%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Eastman Chemical (EMN) based on the quarterly reports provided (last four years of quarterly data). The notes focus on trends in revenue, profitability, cash flow, and the balance sheet, with a view toward potential implications for retail investors.

Operating cash flow has turned positive and trended higher in 2025, rising from about $233M in Q2 to $502M in Q4. This supports ongoing capability to fund capex and dividends without relying on external financing.
Free cash flow in Q4 2025 was robust (~$390M), calculated as cash from operating activities of $502M minus capex of $112M. This strengthens the company’s liquidity and capacity to allocate capital to shareholders or debt repayment.
Dividend per share to common shareholders remained steady at $0.83 across 2025 (Q1–Q4), indicating a stable, shareholder-friendly dividend policy.
All 2025 quarters posted positive net income, underscoring ongoing earnings power (roughly: Q1 about $182M, Q2 $140M, Q3 $47M, Q4 $105M).
Revenue generally sits in the $2.0–$2.3B quarterly range, suggesting durable top-line demand over the period.
The balance sheet remains solid with total assets around $15B, total equity near $5.8–$5.9B, and a cash balance around $0.4–0.5B in recent periods, indicating decent liquidity and a stable capital structure.
Gross margin shows variability, declining through 2025 (roughly mid-20s earlier in the year to about 17% in Q4 2025), which points to margin pressure or mix effects. This could impact quarterly profitability if cost pressures persist.
Leverage remains elevated, with long-term debt broadly in the $4.6–4.8B range and total liabilities near $9–9.4B, suggesting significant financial commitments and sensitivity to interest costs.
Margin-driven weakness in Q4 2025: operating income fell to about $64M (vs. $188M in Q3 2025), highlighting quarterly margin volatility.
Year-over-year earnings softness in late 2025 (e.g., Q4 2025 net income ~$105M vs. Q4 2024 ~$331M) indicating earnings volatility that investors should watch.

05/14/26 09:16 AM ETAI Generated. May Contain Errors.

Eastman Chemical Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Eastman Chemical's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Eastman Chemical's net income appears to be on a downward trend, with a most recent value of $475 million in 2025, falling from $854 million in 2015. The previous period was $908 million in 2024. Check out Eastman Chemical's forecast to explore projected trends and price targets.

Eastman Chemical's total operating income in 2025 was $776 million, based on the following breakdown:

Total Gross Profit: $1.84 billion
Total Operating Expenses: $1.07 billion

Over the last 10 years, Eastman Chemical's total revenue changed from $9.65 billion in 2015 to $8.75 billion in 2025, a change of -9.3%.

Eastman Chemical's total liabilities were at $8.82 billion at the end of 2025, a 5.8% decrease from 2024, and a 23.7% decrease since 2015.

In the past 10 years, Eastman Chemical's cash and equivalents has ranged from $181 million in 2016 to $837 million in 2024, and is currently $566 million as of their latest financial filing in 2025.

Over the last 10 years, Eastman Chemical's book value per share changed from 26.52 in 2015 to 52.26 in 2025, a change of 97.1%.

Related Companies

Financial statements for NYSE:EMN last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Eastman Chemical (EMN) Financials

Financials Breakdown Chart

Key Financial Trends

Eastman Chemical Financials - Frequently Asked Questions

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Eastman Chemical (EMN) Financials

Annual Income Statements for Eastman Chemical

Quarterly Income Statements for Eastman Chemical

Annual Cash Flow Statements for Eastman Chemical

Quarterly Cash Flow Statements for Eastman Chemical

Annual Balance Sheets for Eastman Chemical

Quarterly Balance Sheets for Eastman Chemical

Annual Metrics And Ratios for Eastman Chemical

Quarterly Metrics And Ratios for Eastman Chemical

Financials Breakdown Chart

Key Financial Trends

Eastman Chemical Financials - Frequently Asked Questions

When does Eastman Chemical's financial year end?

How has Eastman Chemical's net income changed over the last 10 years?

What is Eastman Chemical's operating income?

How has Eastman Chemical's revenue changed over the last 10 years?

How much debt does Eastman Chemical have?

How much cash does Eastman Chemical have?

How has Eastman Chemical's book value per share changed over the last 10 years?

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools