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Chemicals · Basic Materials · Fiscal year ends Dec 31
OLIN reported revenue of $6.8B in the fiscal year ended Dec 2025, up 3.7% from the year before. Operating income was $5M, an operating margin of 0.1%, and net income was −$101M. Operating cash flow of $474M less capital expenditure of $226M left free cash flow of $248M. Net debt was $2.7B.
Ranks among the 18 chemicals companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 8,911 | 9,376 | 6,833 | 6,540 | 6,781 |
| Cost of revenue | 6,616 | 7,194 | 5,668 | 5,803 | 6,279 |
| Gross profit | 2,294 | 2,182 | 1,166 | 738 | 502 |
| Selling, general & admin | 417 | 394 | 407 | 409 | 463 |
| Operating income | 1,851 | 1,779 | 712 | 297 | 5.3 |
| Interest expense | 348 | 144 | 181 | 185 | 188 |
| Pre-tax income | 1,539 | 1,676 | 559 | 142 | −161 |
| Income tax | 242 | 349 | 107 | 36.7 | −60.0 |
| Net income | 1,297 | 1,327 | 452 | 105 | −101 |
| Diluted EPS | 7.96 | 8.94 | 3.57 | 0.91 | −0.88 |
| Diluted shares | 163 | 149 | 129 | 120 | 115 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 181 | 194 | 170 | 176 | 168 |
| Receivables | 1,107 | 925 | 875 | 1,008 | 845 |
| Inventory | 868 | 942 | 859 | 824 | 785 |
| Current assets | 2,248 | 2,156 | 1,973 | 2,080 | 1,971 |
| Net PP&E | 2,914 | 2,674 | 2,520 | 2,328 | 2,197 |
| Goodwill | 1,421 | 1,421 | 1,424 | 1,424 | 1,428 |
| Total assets | 8,518 | 8,044 | 7,713 | 7,579 | 7,326 |
| Payables | 848 | 838 | 775 | 862 | 806 |
| Deferred revenue | – | 43.4 | 34.5 | 23.2 | 38.6 |
| Current liabilities | 1,682 | 1,561 | 1,528 | 1,632 | 1,630 |
| Short-term debt | 201 | 9.7 | 78.8 | 129 | 110 |
| Long-term debt | 2,578 | 2,571 | 2,591 | 2,713 | 2,718 |
| Total liabilities | 5,866 | 5,501 | 5,445 | 5,524 | 5,455 |
| Shareholders' equity | 2,652 | 2,544 | 2,232 | 2,023 | 1,839 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | 1,741 | 1,922 | 974 | 503 | 474 |
| Capital expenditure | 201 | 237 | 236 | 195 | 226 |
| Free cash flow | 1,540 | 1,685 | 738 | 308 | 248 |
| Depreciation & amortisation | 583 | 599 | 533 | 518 | 522 |
| Stock-based compensation | 8.3 | 14.1 | 18.6 | 17.1 | 20.7 |
| Acquisitions | 0.0 | 0.0 | −63.9 | 0.0 | −55.8 |
| Share buybacks | 252 | 1,351 | 711 | 300 | 50.5 |
| Dividends paid | 128 | 116 | 101 | 94.2 | 91.6 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 5.2% | −27.1% | −4.3% | 3.7% |
| Operating income growth (YoY) | – | −3.9% | −60.0% | −58.4% | −98.2% |
| EPS growth (YoY) | – | 12.3% | −60.1% | −74.5% | −196.7% |
| Gross margin | 25.7% | 23.3% | 17.1% | 11.3% | 7.4% |
| Operating margin | 20.8% | 19.0% | 10.4% | 4.5% | 0.1% |
| Net margin | 14.6% | 14.2% | 6.6% | 1.6% | −1.5% |
| Return on equityBlank when equity is negative | 48.9% | 52.2% | 20.2% | 5.2% | −5.5% |
| ROCEEBIT ÷ (assets − current liabilities) | 27.1% | 27.4% | 11.5% | 5.0% | 0.1% |
| Free cash flow margin | 17.3% | 18.0% | 10.8% | 4.7% | 3.7% |
| Cash conversion (CFO ÷ net income) | 1.34x | 1.45x | 2.16x | 4.79x | −4.69x |
| Receivable days | 45 | 36 | 47 | 56 | 45 |
| Inventory days | 48 | 48 | 55 | 52 | 46 |
| Payable days | 47 | 43 | 50 | 54 | 47 |
| Interest cover | 5.32x | 12.4x | 3.93x | 1.61x | 0.03x |
| Debt ÷ equity | 1.05x | 1.01x | 1.20x | 1.40x | 1.54x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 2,599 | 2,387 | 2,500 | 2,667 | 2,660 |
| Current ratio | 1.34x | 1.38x | 1.29x | 1.27x | 1.21x |
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.