Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids. It serves transportation, personal care, wellness, food, feed, agriculture, building and construction, water treatment, energy, consumables, durables, and electronics markets. Its Advanced Materials segment provides copolyesters, cellulosic biopolymers, polyvinyl butyral sheets, polyester films and window and protective films for value-added end uses in the transportation, durables, electronics, building and construction, medical and pharma, and consumables end-markets. The company's Chemical Intermediates segment offers olefin and acetyl derivatives, methylamines and salts, higher amines and solvents, ethylene, and commodity solvents; and primary non-phthalate and phthalate plasticizers, and niche non-phthalate plasticizers for industrial chemicals and processing, building and construction, health and wellness, and food and feed. Its Fibers segment provides cellulose acetate tow, triacetin, cellulose acetate flake, acetic acid, and acetic anhydride for use in filtration media primarily cigarette filters; natural and solution dyed acetate yarns, and staple fiber for use in consumables, and health and wellness markets; and wet-laid nonwoven media, specialty and engineered papers, and cellulose acetate fibers for transportation, industrial, agriculture and mining, and aerospace markets. Eastman Chemical Company was founded in 1920 and is headquartered in Kingsport, Tennessee.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $8.8B | $1.3B | $474M | $424M | 8.0% | -6.7% | -47.6% |
| 2024 | $9.4B | $1.8B | $905M | $688M | 15.7% | 1.9% | 1.2% |
| 2023 | $9.2B | $1.8B | $894M | $546M | 16.4% | -12.9% | 12.7% |
| 2022 | $10.6B | $1.6B | $793M | $364M | 15.4% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 10,580 | 9,210 | 9,382 | 8,752 |
| Operating Revenue | - | 10,580 | 9,210 | 9,382 | 8,752 |
| Cost Of Revenue | - | 8,443 | 7,149 | 7,092 | 6,908 |
| Gross Profit | - | 2,137 | 2,061 | 2,290 | 1,844 |
| Operating Expense | - | 889 | 1,007 | 914 | 888 |
| Research And Development | - | 264 | 239 | 250 | 255 |
| Selling General And Administration | - | 625 | 768 | 664 | 633 |
| Total Expenses | - | 9,332 | 8,156 | 8,006 | 7,796 |
| Operating Income | - | 1,248 | 1,054 | 1,376 | 956 |
| EBITDA | - | 1,642 | 1,800 | 1,803 | 1,300 |
| Normalized EBITDA | - | 1,734 | 1,515 | 1,865 | 1,406 |
| EBIT | - | 1,165 | 1,302 | 1,294 | 787 |
| Interest Income | - | 6 | 10 | 16 | 11 |
| Interest Expense | - | 188 | 215 | 216 | 219 |
| Net Interest Income | - | -182 | -215 | -200 | -208 |
| Other Non Operating Income Expenses | - | 3 | -37 | -36 | -74 |
| Other Income Expense | - | -89 | 248 | -98 | -180 |
| Interest Income Non Operating | - | 6 | 10 | 16 | 11 |
| Interest Expense Non Operating | - | 188 | 215 | 216 | 219 |
| Net Non Operating Interest Income Expense | - | -182 | -215 | -200 | -208 |
| Pretax Income | - | 977 | 1,087 | 1,078 | 568 |
| Tax Provision | - | 181 | 191 | 170 | 93 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -17.04 | 51.30 | -9.78 | -17.36 |
| Net Income Continuous Operations | - | 796 | 896 | 908 | 475 |
| Net Income From Continuing And Discontinued Operation | - | 793 | 894 | 905 | 474 |
| Net Income From Continuing Operation Net Minority Interest | - | 793 | 894 | 905 | 474 |
| Net Income | - | 793 | 894 | 905 | 474 |
| Net Income Common Stockholders | - | 793 | 894 | 905 | 474 |
| Net Income Including Noncontrolling Interests | - | 796 | 896 | 908 | 475 |
| Normalized Income | - | 867.96 | 660.30 | 957.22 | 562.64 |
| Diluted NI Availto Com Stockholders | - | 793 | 894 | 905 | 474 |
| Basic Average Shares | - | 123.50 | 118.60 | 116.70 | 114.70 |
| Diluted Average Shares | - | 124.90 | 119.40 | 117.90 | 115.60 |
| Reconciled Depreciation | - | 477 | 498 | 509 | 513 |
| Reconciled Cost Of Revenue | - | 8,443 | 7,149 | 7,092 | 6,908 |
| Total Unusual Items | - | -92 | 285 | -62 | -106 |
| Total Unusual Items Excluding Goodwill | - | -92 | 285 | -62 | -106 |
| Minority Interests | - | -3 | -2 | -3 | -1 |
| Special Income Charges | - | -95 | 286 | -51 | -96 |
| Gain On Sale Of Business | - | -43 | 323 | 0 | 0 |
| Other Special Charges | 1 | - | - | - | - |
| Impairment Of Capital Assets | - | 0 | 0 | 5 | 33 |
| Restructuring And Mergern Acquisition | - | 37 | 37 | 46 | 63 |
| Gain On Sale Of Security | - | 3 | -1 | -11 | -10 |
| General And Administrative Expense | - | 625 | 768 | 664 | 633 |
| Other Gand A | - | 726 | 727 | 736 | 658 |
| Salaries And Wages | - | -101 | 41 | -72 | -25 |
| Gain On Sale Of Ppe | 1 | -15 | 0 | 0 | - |
Basic Materials sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Eastman Chemical Companythis co. | EMN | $8.3B | 17.47β discount | 1.39 | 8.0% | 9.62 |
| Element Solutions Inc | ESI | $10.2B | 53.64 | 3.83 | 7.1% | 23.93 |
| The Mosaic Company | MOS | $7.3B | 13.46 | 0.60 | 4.5% | 4.90 |
| Century Aluminum Company | CENX | $6.6B | 157.29 | 8.16 | 5.2% | 49.15 |
| Celanese Corporation | CE | $5.9B |
| - |
| - |
| - |
| - |
| - |
| - |
| -5.08 |
| 1.46 |
| -28.8% |
| 65.88 |
| Warrior Met Coal, Inc. | HCC | $5.6B | 98.13 | 2.61 | 2.7% | 22.01 |
| Balchem Corporation | BCPC | $5.1B | 32.79 | 4.04 | 12.3% | 20.33 |
| Sensient Technologies Corporation | SXT | $4.8B | 35.70 | 4.02 | 11.3% | 20.41 |
| Materion Corporation | MTRN | $4.7B | 63.23 | 5.02 | 7.9% | 28.96 |
| Peer Median | - | 44.67 | 3.92 | 6.2% | 22.97 | |