LyondellBasell Industries
LYB · NYSEIndustrial Organic Chemicals · Fiscal year ends Dec 31
LyondellBasell Industries reported revenue of $30.2B in the fiscal year ended Dec 2025, down 9.7% from the year before. Operating income was −$420M, an operating margin of −1.4%, and net income was −$738M. Operating cash flow of $2.3B less capital expenditure of $1.9B left free cash flow of $384M. Net debt was $8.9B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $46.2B | $50.5B | $33.3B | $33.4B | $30.2B |
| Cost of revenue | $37.4B | $43.8B | $28.4B | $28.8B | $27.6B |
| Gross profit | $8.8B | $6.6B | $4.9B | $4.6B | $2.6B |
| Research & development | $124M | $124M | $130M | $135M | $136M |
| Selling, general & admin | $1.3B | $1.3B | $1.5B | $1.6B | $1.6B |
| Operating income | $6.8B | $5.1B | $2.7B | $1.9B | −$420M |
| Interest expense | $519M | $287M | $477M | $481M | $487M |
| Pre-tax income | $6.8B | $4.8B | $2.3B | $1.7B | −$715M |
| Income tax | $1.2B | $882M | $433M | $259M | $70M |
| Net income | $5.6B | $3.9B | $2.1B | $1.4B | −$738M |
| Diluted EPS | 16.75 | 11.81 | 6.46 | 4.15 | −2.34 |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.5B | $2.2B | $3.4B | $3.4B | $3.4B |
| Receivables | $4.6B | $3.4B | – | – | – |
| Inventory | $4.9B | $4.8B | $4.8B | $4.7B | $3.5B |
| Current assets | $12.2B | $11.8B | $13.2B | $12.3B | $10.9B |
| Net PP&E | $14.6B | $15.4B | $15.5B | $15.1B | $15.8B |
| Goodwill | $1.9B | $1.8B | $1.6B | $1.6B | $708M |
| Total assets | $36.7B | $36.4B | $37B | $35.7B | $34B |
| Deferred revenue | $169M | $167M | $175M | $110M | $113M |
| Current liabilities | $7.2B | $6.8B | $7.2B | $6.7B | $6.1B |
| Short-term debt | $362M | $349M | $117M | $119M | $226M |
| Long-term debt | $11.2B | $10.5B | $10.3B | $10.5B | $12.1B |
| Shareholders' equity | $11.9B | $12.6B | $12.9B | $12.5B | $10.1B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $7.7B | $6.1B | $4.9B | $3.8B | $2.3B |
| Capital expenditure | $2B | $1.9B | $1.5B | $1.8B | $1.9B |
| Free cash flow | $5.7B | $4.2B | $3.4B | $2B | $384M |
| Depreciation & amortisation | $1.4B | $1.3B | $1.5B | $1.5B | $1.4B |
| Stock-based compensation | $66M | $70M | $91M | $91M | $91M |
| Share buybacks | $463M | $420M | $211M | $195M | $201M |
| Dividends paid | $1.5B | $3.2B | $1.6B | $1.7B | $1.8B |
| Dividend per share | 4.44 | 4.70 | 4.94 | 5.27 | 5.45 |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 9.3% | −33.9% | 0.2% | −9.7% |
| Operating income growth (YoY) | – | −24.7% | −46.6% | −29.6% | −121.9% |
| EPS growth (YoY) | – | −29.5% | −45.3% | −35.8% | −156.4% |
| Gross margin | 19.0% | 13.1% | 14.7% | 13.9% | 8.5% |
| Operating margin | 14.7% | 10.1% | 8.2% | 5.7% | −1.4% |
| Net margin | 12.2% | 7.7% | 6.4% | 4.1% | −2.4% |
| Return on equityBlank when equity is negative | 47.4% | 30.8% | 16.4% | 11.0% | −7.3% |
| ROCEEBIT ÷ (assets − current liabilities) | 22.9% | 17.2% | 9.1% | 6.6% | −1.5% |
| Free cash flow margin | 12.4% | 8.4% | 10.2% | 5.9% | 1.3% |
| Cash conversion (CFO ÷ net income) | 1.37x | 1.57x | 2.33x | 2.79x | −3.07x |
| Receivable days | 36 | 25 | – | – | – |
| Inventory days | 48 | 40 | 61 | 59 | 47 |
| Interest cover | 13.1x | 17.8x | 5.71x | 3.99x | −0.86x |
| Debt ÷ equity | 0.98x | 0.86x | 0.81x | 0.85x | 1.22x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $10.1B | $8.7B | $7.1B | $7.3B | $8.9B |
| Current ratio | 1.69x | 1.75x | 1.84x | 1.83x | 1.77x |
Recent filings
More in Industrial Organic Chemicals
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.