Albemarle
ALB · NYSEPlastic Materials, Synth Resins & Nonvulcan Elastomers · Fiscal year ends Dec 31
Albemarle reported revenue of $5.1B in the fiscal year ended Dec 2025, down 4.4% from the year before. Operating income was −$367M, an operating margin of −7.1%, and net income was −$511M. Operating cash flow of $1.3B less capital expenditure of $590M left free cash flow of $692M. Net debt was $1.6B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $3.3B | $7.3B | $9.6B | $5.4B | $5.1B |
| Cost of revenue | $2.3B | $4.2B | $8.4B | $5.3B | $4.5B |
| Gross profit | $998M | $3.1B | $1.2B | $63M | $669M |
| Research & development | $54M | $72M | $86M | $87M | $51M |
| Selling, general & admin | $441M | $524M | $910M | $618M | $550M |
| Operating income | $798M | $2.5B | $252M | −$1.8B | −$367M |
| Pre-tax income | $134M | $2.4B | $247M | −$1.8B | −$552M |
| Income tax | $29M | $391M | $430M | $87M | $157M |
| Net income | $124M | $2.7B | $1.6B | −$1.2B | −$511M |
| Diluted EPS | 1.06 | 22.84 | 13.36 | −11.20 | −5.76 |
| Diluted shares | 117M | 118M | 118M | 118M | 118M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $439M | $1.5B | $890M | $1.2B | $1.6B |
| Receivables | $557M | $1.2B | $1.2B | $742M | $594M |
| Inventory | $799M | $2.1B | $2.2B | $1.5B | $1.2B |
| Current assets | $2B | $5.2B | $5.2B | $3.8B | $4B |
| Net PP&E | $5.9B | $7B | $9.5B | $9.3B | $8.6B |
| Goodwill | $1.6B | $1.6B | $1.6B | $1.6B | $1.5B |
| Total assets | $11B | $15.5B | $18.3B | $16.6B | $16.4B |
| Payables | $600M | $1.5B | – | – | – |
| Deferred revenue | – | – | – | $2M | $93M |
| Current liabilities | $1.9B | $2.7B | $3.6B | $2B | $1.8B |
| Short-term debt | $390M | $2M | $626M | $398M | $74M |
| Long-term debt | $2B | $3.2B | $3.5B | $3.1B | $3.1B |
| Shareholders' equity | $5.6B | $8B | $9.4B | $10B | $9.5B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $344M | $1.9B | $1.3B | $688M | $1.3B |
| Capital expenditure | $954M | $1.3B | $2.2B | $1.7B | $590M |
| Free cash flow | −$609M | $651M | −$828M | −$993M | $692M |
| Depreciation & amortisation | $254M | $301M | $430M | $589M | $659M |
| Stock-based compensation | $20M | $30M | $37M | $32M | $40M |
| Dividends paid | $178M | $184M | $187M | $189M | $191M |
| Dividend per share | 1.56 | 1.58 | 1.60 | 1.61 | 1.62 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 120.0% | 31.4% | −44.1% | −4.4% |
| Operating income growth (YoY) | – | 209.4% | −89.8% | −805.3% | – |
| EPS growth (YoY) | – | 2054.7% | −41.5% | −183.8% | – |
| Gross margin | 30.0% | 42.0% | 12.3% | 1.2% | 13.0% |
| Operating margin | 24.0% | 33.7% | 2.6% | −33.0% | −7.1% |
| Net margin | 3.7% | 36.7% | 16.4% | −21.9% | −9.9% |
| Return on equityBlank when equity is negative | 2.2% | 33.7% | 16.7% | −11.8% | −5.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 8.8% | 19.4% | 1.7% | −12.1% | −2.5% |
| Free cash flow margin | −18.3% | 8.9% | −8.6% | −18.5% | 13.5% |
| Cash conversion (CFO ÷ net income) | 2.78x | 0.71x | 0.84x | −0.58x | −2.51x |
| Receivable days | 61 | 59 | 46 | 50 | 42 |
| Inventory days | 125 | 178 | 94 | 103 | 96 |
| Payable days | 94 | 132 | – | – | – |
| Debt ÷ equity | 0.43x | 0.40x | 0.44x | 0.35x | 0.33x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $2B | $1.7B | $3.3B | $2.3B | $1.6B |
| Current ratio | 1.06x | 1.89x | 1.47x | 1.95x | 2.23x |
Recent filings
More in Plastic Materials, Synth Resins & Nonvulcan Elastomers
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.